Effect of Omitting Adjusting Entry

The adjusting entry for accrued wages was omitted at July 31, the end of the current year. Indicate which items will be in error, because of the omission, on (a) the income statement for the current year and (b) the balance sheet as of July 31. Also indicate whether the items in error will be overstated or understated.

a. Income Statement Wages Expense, Net Income
b. Balance Sheet Wages Payable, Stockholders' Equity

Agood for which demand increases as income rises is and a good for which demand increases as income falls is

Record the journal entry for the provision for uncollectible accounts under each of the following independent assumptions: a. the allowance for doubtful accounts before adjustment has a credit balance of $500. b. the allowance for doubtful accounts before adjustment has a debit balance of $250. c. assume that octoberʼs credit sales were $70,000. uncollectible accounts expense is estimated at 2% of sales. smith, gaylord n.. excel applications for accounting principles (p. 51). cengage textbook. kindle edition.

Find the zeros of the polynomial 5 x square + 12 x + 7 by factorization method and verify the relation between zeros and coefficient of the polynomials