Winnie Ltd. provides computer services to business customers. In 2020, the Company failed to record accrued service revenues for $150,000 The Company received and recorded this amount as service revenue in 2021. This accounting treatment would Have no effect on reported net earnings for 2020. O b. Make net earnings for 2020 equal to net earnings for 2021. O c. Overstate net earnings for 2020 by $150,000. O d. Understate net earnings for 2020 by $150,000.

Q: Define BOM along with an example.

A: There are different types of BOM based on the specific engineering used in the design process or…

Q: Explain the characteristics

A:

Q: Define Assigning.

A: Assigning is a process of assignment. Assignment means a transfer of a right to receive a…

Q: What is full form of GAAP? Describe about it.

A: Generally Accepted Accounting Principles, are commonly known as GAAP

Q: Describe about the LIFO and FIFO method.

A:

Q: Describe the functions and powers of ASIC

A: Australian securities and investment commission is a commission made in 1998 of Australian…

Q: Describe WACC and its components.

A: WACC: The weighted average cost of capital (WACC) is a computation of   cost of capitalof a company…

Q: Explain

A: LCNRV method means Lower of cost and net realizable value method.

Q: Explain put–call parity relationship

A: Put-Call parity is the concept that defines the relationship between price of European call option…

Q: Define covered call option

A: Covered call option It alludes to financial market exchanges where the financial specialist who…

Q: Can i see the exact working out for 2a

A: FIFO stands for First in First Out which is the inventory method states that the inventory which is…

Q: Define the term CQS Plan?

A: Introduction: Usually, stock exchanges such as the New York Stock Exchange operate as a forum where…

Q: Parallel

A: ISTISNA AND PARALLEL ISTINA :

Q: Match the terms

A: Accounting principles are the accounting rules which an organization must follow while maintaining…

Q: Define the term realization principle.

A: Accounting: Accounting refers to the information system, where the economic activities of a…

Q: Illustrate the CDO Structure?

A: CDO is the abbreviation used for collateralized debt obligation. It is corporate based funanacial…

Q: Define the term Net method.

A: As per the net method, the company records the amount of purchase by deducting any potential…

Q: What is the full form of ERP? Explain ERP with examples?

A: ERP means Enterprise Resource Planning, it is a process management software used by organizations to…

Q: Describe Caveats?

A: A notice that is given to the court that it must give caveator a fair hearing before making any…

Q: Discus the elements of GAAS, how does it relate to GAAP?

A: GAAS(Generally Accepted Auditing Standards) :- provides standards by which the prepared financial…

Q: What is full form of CIP? Explain about it.

A: Carriage and Insurance Paid to is the full form of CIP

Q: Define direct quote

A: A direct quote can be computed using the following formula: Direct quote=1Indirect quote

Q: Describe the features of JIT.

A:

Q: Describe about the concept of COGS.

A: Cost of goods sold (COGS): Cost of goods sold is the accumulate amount of all direct cost incurred…

Q: Define synergy

A: