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3 years ago

Following high-profile corporate scandals including Enron and WorldCom, Congress

Business

1 answer:

Bogdan [553]3 years ago

7 0

Answer:

Following high-profile corporate scandals including Enron and WorldCom, Congress

passed a set of legislations known as the Sarbanes-Oxley Act which requires the

disclosure of the presence or absence of a Code of Ethics for senior financial officers.

Explanation:

The Sarbanes-Oxley Act of 2002 is a federal law that established sweeping auditing and financial regulations for public companies. Lawmakers created the legislation to help protect shareholders, employees and the public from accounting errors and fraudulent financial practices.

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Cragmont has beginning equity of $277,000, net income of $63,000, withdrawals of $25,000 and no additional investments by owners

MatroZZZ [7]

The ending equity is $315,000 This is just a matter of adding income and subtracting withdraws. So let's do it. "Cragmont has beginning equity of $277,000," x = $277000 "net income of $63,000" x = $277000 + $63000 = $340000 "withdrawals of $25,000" x = $340000 - $25000 = $315000

3 0

3 years ago

Mountain Dental Services is a specialized dental practice whose only service is filling cavities. Mountain has recorded the foll

Ivenika [448]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

The high-low method involves taking the highest level of activity and the lowest level of activity and comparing the total costs at each level.

Mountain has recorded the following for the past nine months:

January:

Number of Cavities= 375

Total cost= $5,300

February:

Number of Cavities 500

TC= 5,850

March

Number of Cavities 350

TC= 5,200

April

Number of Cavities 600

TC=6,250

May

Number of Cavities 325

TC= 5,150

June

Number of Cavities 475

TC= 5,700

July

Number of Cavities 525

TC= 6,100

August

Number of Cavities 575

TC= 6,300

September

Number of Cavities 450

TC= 5,550

A) Variable cost= (Highest activity cost - lowest activity cost) / (Highest activity units - lowest activity units)

Variable cost= (6300 - 5150) / (600 - 325)= 4.18 per unit

Fixed cost= HACost - (variable cost per unit * HAUnits)= 6300 - (4.18*600)= 3792

Fixed cost= LACost - (variable cost per unit* LAUnits)= 5150 - (4.18*325)= 3792

B) Q= 400

Total cost= 3792 + 4.18*400= $5464

8 0

3 years ago

At the end of the current year, the accounts receivable account has a debit balance of $999,000 and sales for the year total $11

Pavel [41]

Answer:

A.$28,325

B.$56,700

C.$56,650

D.$46,700

Explanation:

A.Record adjusting entry for bad debts on estimated percentage of sales as shown below:

Dr bad debt expenses$11,330,000× 1%×(1/4) $28,325

Cr Allowance for doubtful accounts $28,325

B.Record adjusting entry for doubtful accounts based on aging of accounts as shown below:

Dr Bad debt expense ($43,200+$13,500) $56,700

Cr Allowance for doubtful accounts $56,700

C.Record adjusting entry for bad debts on estimated at 1/2 of 1% of sales.

Dr bad debt expenses$11,330,000× 1%×(1/2) $56,650

Cr Allowance for doubtful accounts $56,650

D.Dr Bad debt expense ($53,100- $6,400) $46,700

Cr Allowance for doubtful accounts $46,700

3 0

3 years ago

Computers Inc. is a United States computer and consumer electronics company that designs and manufactures electronic devices. Co

Galina-37 [17]

No the electronic devices where made to text and easier to text

5 0

3 years ago

At what stage of growth is a business profitable, with enough money to reinvest into the company? A. Successful B. Start-up C. M

Trava [24]

D. Stability, is right.

6 0

3 years ago

Read 2 more answers