Answer:
Two adjustments must be made to year 1's financial statements:
- The income statement must be adjusted since net income increased because cost of goods sold decreased.
- The balance sheet must be adjusted since retained earnings will increase because net income increased.
Explanation:
The retrospective approach hides any changes with the accounting methods, and shows the financial statements as if the new accounting method was used all along and there was no error or change.
Answer:
c) leadership is first and foremost about establishing a personal bond with employees
Explanation:
Sam believes in rewarding his employees for their hard work. he is acting as a _______ when he processes their merit raises promptly on their hire date anniversaries.
As a manager seeks to develop her leadership skills, she should be aware that:
a) there is one best leadership style to which all managers should aspire
b) leadership is primarily about personal efficiency
c) leadership is first and foremost about establishing a personal bond with employees
d) many different styles of leadership can be effective
Sam is acting as a manager when he processes their merit raises promptly on their hire date anniversaries. Leadership is the ability for an individual to direct or guide other individuals, teams, or entire organizations. Leadership in an organization is directing employees to accomplish a goal or meet the company need.
A leader should be able to communicate effectively with his/her team, be honest and have integrity and also build good relationship among client, team members and the community at large. The first thing a leader must do is establishing a personal bond with employees.
Answer:
Explanation:
The necessary adjusting entries at December 31 to record amortization required by the events above has been prepared.
It should also be noted that due to the goodwill having an indefinite life, no entry was made to amortize the goodwill.
It should be noted that the amortization expense was gotten as:
Annual amortization = $75,000/5
= $15,000
2015 amortization= $15,000 × 8/12months
= $15,000 × 2/3
= $30,000/3
= $10,000
Kindly check the attached file forthe adjusting entries
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