Answer:
The correct answer is Public Company Accounting Oversight Board.
Explanation:
The Sarbanes Oxley Law was enacted in the United States with the purpose of monitoring companies that are listed on the stock exchange, preventing the valuation of their shares from being altered doubtfully, while their value is lower. Its purpose is to avoid fraud and bankruptcy risk, protecting the investor.
This law, beyond the local level, also involves all companies listed on the NYSE (New York Stock Exchange), as well as its subsidiaries.
This law arose in response to the financial scandals of large corporations, such as: Enron, Tyco International, WorldCom and Peregrine Systems, as these diminished the public's confidence in the accounting systems and, above all, in the audit.
Answer:
$12,209
Explanation:
The computation of the pro forma net working capital is shown below;
Add items
Cash $1,383 {$1,320 × (1 + 4.8%)}
Inventory $10,690 {$10,200 × (1+4.8%)
}
Accounts receivable $3,961 {$3,780 × (1 + 4.8%)}
Less
Accounts payable -$3,825 {$3,650 × (1 + 4.8%)}
Pro forma net working capital $12,209
We simply added the current assets and deduct the current liabilities
Answer:
The correct answer is letter "A": drop shipper.
Explanation:
A drop shipper is a provider that supplies products to a business that wants to engage in trade without the need of having a warehouse. The drop shipper is in charge of storing the products, offering its services in exchange for a sales fee or a fixed fare. This type of entity has gained popularity thanks to e-commerce where most online stores act as intermediaries offering goods without the need for physically having them.
Answer:
a. $349,700
b. $209,900
Explanation:
The computation is shown below:
Before computing the cash payment made to supplier first we have to find out the purchase amount which is shown below:
(a) Change in Finished goods + purchase = Cost of goods sold
-$25,800 + purchases = $307,000
So, the purchase is $332,800
Now
Cash paid to supplier is
= $332,800 + $16,900
= $349,700
And,
(b) Cash paid for operating expenses is
= $229,000 - $8,000 - $11,100
= $209,900
Answer:
C. credit balance of $14,000
Explanation:
Net income = Earned revenues - Incurred expenses = $18,000 - $4,000 = $14,000
This net profit of $14,000 will be credited to the the Income Summary account before closing to the Retained Earnings account.
Therefore, the correct answer is C. credit balance of $14,000.