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andreev551 [17]

3 years ago

6

The _____ was/were enacted to restore confidence in financial reporting and business ethics after the accounting scandals of the

early 2000s.

1 answer:

dybincka [34]3 years ago

6 0

The Sarbanes-Oxley Act was enacted. It gave more responsibility and harsher penalties to managers who signed off on financial records.

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During Year 1, Ashkar Company ordered a machine on January 1 at an invoice price of $24,000. On the date of delivery, January 2,

oksian1 [2.3K]

Answer:

Explanation:

1.

January 1 Assets - no effect; Liabilities - no effect; Stockholder's equity - no effect

January 2 Assets: Cash -$8000; Equipment + $24000

Liabilities: Short term note payable +$16000

January 3 Assets: Cash -$700; Equipment +$700

January 5 Assets: Cash -$2500; Equipment +$2500

July 1 Assets: Cash -$16720; Liabilities: Short term note payable - $16,000

Stockholders equity - $720

*(24,000-8,000)*0.09*6/12 = $720

2. Acquisition cost of the machine:

Cash paid $8,000

Note payable with supplier $16,000

Freight costs $700

Installation costs $2,500

Acquisition cost $27,200

3. Depreciation(2013) = ($27,200 - residual value of $3,200) *1/10= $24,000/10 = $2400

5. Equipment cost = $27,200

Less: Depreciation [$2400*2] $4800

net book value of the machine at the end of 2014 $22,400

6 0

3 years ago

Read 2 more answers

A client, age 67, owns his own home free and clear. The customer has an annual income of $25,000, mainly from social security an

FromTheMoon [43]

Answer:

The best recommendation to be made to this client is to do nothing.

Explanation:

Investment in stock is a highly risky investment because price of stock often fluctuates which can make an investor to lose a lot of money.

From the question, the client is already old at age 67 with a low income and he does not have any other liquid assets apart from the annual income of $25,000, mainly from social security and interest on funds held in a bank savings account.

Since losing so much money through investment in stock is not affordable to him, the best recommendation to be made to this client is to that he should do nothing.

3 0

3 years ago

Andrew is the prom committee chairman. He is at the prom and realizes that the meal delivered to the attendees was steak and not

scoray [572]

Answer:

monitoring and controlling

Explanation:

The five stages in the project management process are:

Project initiation
Project planning
Project execution
Project monitoring and controlling: in this stage you must measure the project's performance in order to identify any possible deviation from the project's plan. Project managers should use key performance indicators (KPI) to determine if the project s on track or not. In this case, one KPI was chicken meal and the deviation was steak meal.
Project closure

5 0

2 years ago

Goldfinger Corporation had account balances at the end of the current year as follows: sales revenue, $29,000; cost of goods sol

vladimir2022 [97]

Answer:

sales revenue 29,000 debit

income summary 29,000 credit

income sumamry 10,520 debit

operating expenses 6,200 credit

income tax expense 4,320 credit

income summary 18,480 debit

retained earnings 18,480 credit

Explanation:

To close the temporary account we will use an auxiliar account called income summary.

We will post expense in the credit against income summary in the debit

for revenues we will do the other way around, debit aainst income summary on credit.

Last, we transfer the balcne of this account into retained earnigns.

<u>balance of retained earnings: </u>

29,000 - 10,520 = 18,480

5 0

3 years ago

Which of the following questions would be permissible to ask during an interview with a candidate who is in a wheelchair?

faust18 [17]

Answer:

A

Explanation:

This seems the most reasonable depending on the interview....if it was for a job then you might need something that is not done with your legs

3 0

3 years ago