Answer:
The correct answer is
D. Request the client to have the bank seal the safe deposit box until the auditors can count the securities at a subsequentdate.
d. by dividing the total estimated manufacturing overhead costs by the total estimated amount of the allocation base
Answer:
Net Income for the year is $174,000
Explanation:
Net Income Calculation for the year is done below:
<u>Particulars</u> <u>$</u>
Revenues (290,000 + 50,000) 340,000
Less: Rent (30,000 / 2) (15,000)
Less: Salaries (110,000)
Less: Utilities (40,000 + 1,000) (41,000)
Net Income 174,000
Please note the following with regard to the calculation done above:
- Revenue includes both the cash collected from customers and cash owed by the customers, which received later on at the end of the year.
- Rent has been divided by two, this is due to the fact that calculation of net income is done for the current period so only one year rent is taken.
- Utilities include cash paid for utilities and the amount company owed to gas & electric company.
Preserved remains of organisms are known as fossils.
Fossils are generally <u>remains of ancient dead living organisms, including plants and animals</u>. Fossils can be in the form of bones, shells, or even an animal’s imprint.
These things help Charles Darwin in proving his theory of evolution, which states that heritable characteristics in living organisms change over several generations.
Answer:
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