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3 years ago

Under section 404 of the sarbanes oxley act auditors are required to

1 answer:

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Basically, the Sarbanes Oxley Act was not a single Act, but a series of Acts that were designed to expand starting requirements for companies such as firms and overall businesses. Section 404 is one of the Acts that are specifically set on the company's control on their financial reports made. As a result, internal management or more commonly known as the Internal Affairs program of a company must provide a detailed and clear-written (straight-to-the-point) report on the company's structure (how they do things) and creating, or establishing, a set of procedures on how they plan to report their financial status.

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Exercise 20-19 Budgeted cash payments LO P2 Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $

beks73 [17]

Answer:

See explanation section.

Explanation:

P2 Zisk Co.

Budgeted cash payments

For the 2nd quarter

April May June

Accounts payable $22,000

70% in the month of purchase $56,000 $77,000 $84,000

30% in the month after purchase $24,000 $33,000

Budgeted cash payments $78,000 $101,000 $117,000

Total budgeted cash for the 2nd quarter = $296,000.

30% in the month after purchase means 30% amount will be given in the following month.

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3 years ago

Suppose that in an? economy, investment is? $400 billion, saving is? $400 billion, tax revenues are? $500 billion, exports are?

ludmilkaskok [199]

By definition, government expenditure refers to the money used in the acquisition of goods and services for current use. In this case, the government expenditure is simply equivalent to investment.

<span>Government expenditure = </span>$400 billion

From economics: I=S+T–G+M–X

Where

I = Investment

S = Savings

T= Tax revenues

G =Government budget

M = Import

X = Export

Rearraging to get G:

G = S – I + T + M – X

G = $400 billion - $400 billion + $500 billion + $200 billion - $300 billion

<span>G = Government budget = $400 billion</span>

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3 years ago

On November 1, 20x1, Bishop Company issued 10% bonds with a face amount of $20 million. The bonds mature in 10 years. For bonds

lapo4ka [179]

Answer:

The issue price of the bonds is $ 17,706,015.76 as contained in the attached

The double entries upon bond issuance are as follows:

Dr Cash $17,706,015.76

Dr Discount on bond $ 2,293,984.24

Cr Bonds payable $20,000,000.00

The journal entries for the interest are found in the attached.

Explanation:

Ultimately, the bond issue at a discount of $ 2,293,984.24

($20,000,000.00-$17,706,015.76)

Download xlsx

7 0

3 years ago

The main difference between CPM and PERT is Group of answer choices

goldfiish [28.3K]

Answer: CPM and PERT use different activity time estimates.

Explanation:

Program (Project) Management and Review Technique (PERT) is appropriate when the project time needed to complete different activities are unknown while the Critical Path Method or CPM is fitted for recurring projects in nature. PERT deals with activities that are not predictable but CPM deals with repetitive activities. PERT focuses/concentrates on time while CPM focuses on time-cost & trade-off. Also, PERT requires three-time estimate while CPM requires one-time estimate. PERT uses a probabilistic model and on the other hand, CPM uses a deterministic model. In PERT, a technique of planning and controlling time is used but CPM uses a technique to control cost and time.

4 0

3 years ago

Read 2 more answers

If a check correctly written and paid by the bank for $749 is incorrectly recorded in the company's books for $794, how should t

sertanlavr [38]

Answer:

To treat this in the bank reconciliation, the difference of $45 is deducted from the balance per bank.

Explanation:

Based on the information given;

The amount recorded (as a deduction) in the books was in excess of $45 being the difference between the actual amount $749 and the erroneous amount recorded $794.

As such, to reconcile the bank statement balance to the balance in the books, the difference $45 is deducted from the balance per bank.

However, in the computation of the book balance the excess amount $45 is added to the book balance to correct the error.

3 0

3 years ago