The income statement of annette co. for the month of july shows net income of $3,200 based on service revenue $7,700, salaries and wages expense $2,600, supplies expense $1,400, and utilities expense $500. in reviewing the statement, you discover the following: 1. insurance expired during july of $500 was omitted.2. supplies expense includes $300 of supplies that are still on hand at july 31.3. depreciation on equipment of $250 was omitted.4. accrued but unpaid salaries and wages at july 31 of $400 were not included.5. services provided but unrecorded totaled $700.required: a. what effect do the corrections have on the amount reported as total assets on the balance sheet? b. what effect do the corrections have on the amount reported as total liabilities on the balance sheet?

The following accounts appeared in recent financial statements of delta air lines. identify each account as either a balance sheet account or an income statement account. for each balance sheet account, identify it as an asset, a liability, or stockholders' equity. for each income statement account, identify it as a revenue or an expense. item financial statement type of account accounts payable balance sheet advanced payments for equipment balance sheet air traffic liability balance sheet aircraft fuel (expense) income statement aircraft maintenance (expense) income statement aircraft rent (expense) income statement cargo revenue income statement cash balance sheet contract carrier arrangements (expense) income statement flight equipment balance sheet frequent flyer (obligations) balance sheet fuel inventory balance sheet landing fees (expense) income statement parts and supplies inventories balance sheet passenger commissions (expense) income statement passenger revenue income statement prepaid expenses income statement taxes payable balance sheet

Eliza works for a consumer agency educating young people about advertisements. instead of teaching students to carefully read advertisement claims, she encourages them to develop a strong sense of self and to keep their life goals and dreams separate from commercial products. why might eliza's advice make sense?

The returns on the common stock of maynard cosmetic specialties are quite cyclical. in a boom economy, the stock is expected to return 22 percent in comparison to 9 percent in a normal economy and a negative 14 percent in a recessionary period. the probability of a recession is 35 percent while the probability of a boom is 10 percent. what is the standard deviation of the returns on this stock?