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erma4kov [3.2K]
1 year ago
12

Over the years, the Securities and Exchange Commission (SEC) has delegated its statutory authority to establish accounting princ

iples for publicly traded companies in the United States. This delegated authority impacts which organization(s)
Business
1 answer:
dimulka [17.4K]1 year ago
3 0

The delegated authority of the Securities and Exchange Commission (SEC) on establishing accounting principles for publicly traded companies in the United States impacts all <u>publicly held companies</u>.

<h3>What is the role of the SEC?</h3>

The Securities and Exchange Commission (SEC) is a well-recognized U.S. government oversight agency.

It is responsible for regulating the securities markets and protecting investors' investments.

It does this, by:

  • Maintaining fair, orderly, and efficient markets
  • Ensuring compliance with financial regulations
  • Ensuring transparency in financial reporting
  • Facilitating capital formation.

Thus, the delegated authority of the Securities and Exchange Commission (SEC) on establishing accounting principles for publicly traded companies in the United States impacts all <u>publicly held companies</u>.

Learn more about the Securities and Exchange Commission at brainly.com/question/3798508

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The City of Crescent Hill operates a central motor pool as an internal service fund for the benefit of the city's other funds an
aliya0001 [1]

Answer:

C. Expenditures

Explanation:

Based on the information provided within the question it can be said that the Parks Department should use an expenditures account to record these billings. Expenditures refers to the action of spending funds to purchase goods or services on behalf of the company. Such purchases can include vehicle rentals like what was billed for the Parks Department.

4 0
2 years ago
4. The E. Harris Company issued bonds in September of 2003. When issued, the bonds had 20 years to maturity, a coupon rate of 7.
stiv31 [10]

Answer:

6%

Explanation:

Yield to maturity is the annual rate of return that an investor receives if a bond bond is held until the maturity. It is the long term return of the bond which is expressed in annual term.

Face value = F = $1,000

Coupon payment = $1,000 x 7.5% = $75

Selling price = P = $1110.40

Number of payment = n = 10 years

Yield to maturity = [ C + ( F - P ) / n ] / [ (F + P ) / 2 ]

Yield to maturity = [ $75 + ( $1,000 - $1,110.4 ) / 10 ] / [ ( $1,000 + $1,110.4 ) / 2 ]

Yield to maturity = [ $75 - 11.04 ] / $1,055.2

Yield to maturity = $63.96 / $1,055.2

Yield to maturity = 0.0606 = 6.06%

Rounded off to whole percentage 6%

3 0
3 years ago
On the end-of-period spreadsheet, Supplies has a balance of $2,000 in the Unadjusted Trial Balance Debit column and an adjustmen
Mademuasel [1]

Answer:

$1,500

Explanation:

On the end-of-period spreadsheet, the credit adjustment of $500 is made in the Debit balance of Supplies inventory, which will net off the values and resulted Supplies Inventory value will be $1,500 at the end of the year and it will be reported on the financial statements. $1,500 should be appeared for supplies in the adjusted Trial Balance column.

7 0
3 years ago
Brief Exercise 8-06 The cash register tape for Bluestem Industries reported sales of $6,871.50. Record the journal entry that wo
astra-53 [7]

Journal entries

A.

Dr Cash $6,871.50

DrCash Exceed and Short $50.75

Cr Sales Revenue ($6,871.50+ 50.85) $6,922.25

B.

Dr Cash ($6,922.25 +28.32) $6,950.57

Cr Sales Revenue $6,922.25

Cr Cash Exceed and Short $28.32

8 0
3 years ago
A buyer will receive a utilities bill for an estimated $400 at the end of the month. At closing, the seller has used an estimate
MrMuchimi

Answer:

Dr Seller Account $100

Cr Buyer Account      $100

Explanation:

The property sold on 15th of the month by Mr. A to Mr. B and the utility bill received later of this month would be split between Mr. A and Mr. B. The basis for the split of the utility bills would be the share that Mr. A utilized the facilities and in this scenario, it is $100. Hence the buyer Mr. B has receivable of $100 and the seller Mr. A has a liability payable of $100 amount.

Hence the buyer will debit the bill by $100 receivable and the Seller will debit the bill owed to buyer by $100.

3 0
3 years ago
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