gabbypittman20

04.05.2021 • 

Business

On December 31, 2014, the bookkeeper for Grillo Company prepared the following income statement and balance sheet summarized here but neglected to consider three adjusting entries. As Effects of Corrected
Prepared Adjusting Entries Amounts
Income Statement
Revenues $ 97,000
Expenses (73,000)
Income tax expense
Net income $ 24,000
Balance Sheet
Assets
Cash $ 20,000
Accounts receivable 22,000
Rent receivable Equipment 50,000
Accumulated depreciation (10,000)
$ 82,000
Liabilities
Accounts payable $ 10,000
Income taxes payable
Stockholders' Equity
Common stock 10,000
Additional paid-in capital 30,000
Retained earnings 32,000
$ 82,000
Data on the three adjusting entries follow:
a. Rent revenue of $2,500 earned for December 2014 was neither collected nor recorded.
b. Depreciation of $4,500 on the equipment for 2014 was not recorded.
c. Income tax expense of $5,100 for 2014 was neither paid nor recorded.
Required:
1. Prepare the three adjusting entries that were omitted. Use the account titles shown in the income statement and balance sheet data.
2. Complete the two columns to the right in the preceding tabulation to show the correct amounts on the income statement and balancesheet.

Ответ:

Tyrant4life

17.07.2021

Business

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The correct answer is: In Japan, most of the shares are owned by members of a keiestsu . A family of companies with supplier, customer and financial ties. Japanese companies tend to continue to grow and diversify instead of profits.

In Japan, a leading bank generally owns 5% of the shares and other banks own a smaller percentage.

In the US UU work in the interest of the shareholder. Japanese companies did not care about stock prices or market confidence, but instead financed themselves by selling stocks or bonds. Instead, the main bank lent them the money they needed.

Jobs for life; Lifetime job security: reluctant to fire the main male employees. Companies pay small or no dividends.

In Japan, the inclusion of companies allows companies to work with each other and compete with foreign companies instead of other national companies.

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