Answer: d. A statement that the financial statements are the responsibility of the client's management
Explanation:
The new reporting standard (AS 3101) requires auditor's opinion on the financial statements to be moved to the first paragraph of the Audit report, Requires the Auditor to use section titles to identify and highlight important information, Requires an Auditor to provide a clear clarification that the audit scope includes notes to the financial statement, and also the Auditor is required to disclose the year they began serving consecutively as the company's auditors.
A statement that the financial statements are the responsibility of the client's management is NOT part of changes brought by AS 3101
Answer: D. $600 included in Ned's medical expenses
Explanation:
The amount that Ned can include in his itemized deductions will be the $600 that's included in Ned's medical expenses.
It should be noted that the medical expenses will be under the itemized deductions. On the other hand, the other options will be under the miscellaneous itemized deductions. Therefore, the correct option is D.
Answer:
$20,000
Explanation:
First find 2/3 of $12,000. It is $8000.
The price of the car today = $12,000 + $8000= $20,000.
I hope my answer helps you
Answer:
Instructions are listed below
Explanation:
Giving the following information:
The predetermined overhead rate based on direct labor cost. The information used in setting this rate includes estimates that the company will incur $754,000 of overhead costs and $580,000 of direct labor cost.
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 754000/580000= $1.3 per direct labor dolar
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
