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3 years ago

By law, the financial records of publicly held companies are required to be:________.

Business

1 answer:

antiseptic1488 [7]3 years ago

4 0

Answer:

D) Audited by a certified professional accounting firm.

Explanation:

The Securities and Exchange Commission (SEC) requires that publicly traded corporations file audited quarterly financial reports and annual audited financial reports. The Sarbanes-Oxley Act (2002) is the law that established the current external auditing rules imposed by the SEC. It also established legal responsibilities for CEOs and CFOs regarding the financial statements. If they fail to meet them or provide false information, they may face criminal charges and end in jail.

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Use the following selected information from Wheeler, LLC to determine the 2017 and 2016 common size percentages for operating ex

Gwar [14]

Answer:

19.8%; 16.8%

Explanation:

In 2016:

Common size percentages for operating expenses:

= (Operating expenses ÷ Net sales) × 100

= (65,960 ÷ $333,800) × 100

= 0.198 × 100

= 19.8%

In 2017:

Common size percentages for operating expenses:

= (Operating expenses ÷ Net sales) × 100

= ($68,440 ÷ $407,400) × 100

= 0.1680 × 100

= 16.8%

Note:

Table is missing in this question, so i have attached the missing table.

6 0

3 years ago

Diaz Company owns a machine that cost $125,500 and has accumulated depreciation of $91,800. Prepare the entry to record the disp

natta225 [31]

Answer:

Accumulated Depreciation $91,800

Loss on Disposal $33,700

Machine Account $125,500

Cash $35,000

Accumulated Depreciation $91,800

Profit on Disposal $1,300

Machine Account $125,500

Cash $68,000

Accumulated Depreciation $91,800

Profit on Disposal $34,300

Machine Account $125,500

Cash $80,000

Accumulated Depreciation $91,800

Profit on Disposal $46,300

Machine Account $125,500

Explanation:

The situations were missing which were as follow:

1. The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receiving nothing in return.

2. Diaz sold the machine for $35,000 cash.

3. Diaz sold the machine for $68,000 cash.

4. Diaz sold the machine for $80,000 cash.

Journal Entries are made according to these.

6 0

3 years ago

Penalty apr is interest that applies to the balance if___.

Yanka [14]

It’s c because purchase are not made in the introduction period

3 0

3 years ago

Read 2 more answers

V\\\To record a sales transaction, use: Multiple Choice Create Invoices > Receive Payment > Make Deposits Create Purchase

Degger [83]

Answer:

Create Invoices > Receive Payment > Make Deposits

Explanation:

A sales transaction can be defined as a business transaction between two or more individuals or organizations, which generally involves the buyer purchasing either a tangible or intangible goods and services from the seller (service provider) through the use of money, credit cards or vouchers.

After successfully initiating, processing and execution of a sales transaction, the following are important to consider.

To record a sales transaction, use:

1. Create Invoices: a sales invoice is defined as an accounting document which is used for recording the essential details of the payment of goods and services made by a customer. It is the first step in the sales transaction, as it is expected that the seller or service provider makes it available and issues it for all sales transactions. Also, it is an essential accounting document which serves as an evidence of payment and delivery of goods and services to the customer.

2. Receive Payment: after filling out the sales invoice, the cashier is expected to receive cash or any other form of payment made available to the customer as a medium of payment. At this stage, the cashier or sales representative should ensure the payment is confirmed to be complete and we'll received.

3. Make Deposits: the cashier then goes ahead to record the sales transaction in balance sheet of the organization, after the customer has successfully paid for the service being provided or received.

In a nutshell, for a number of sales the above mentioned steps should be followed by sales persons or cashiers judiciously after all transactions are done.

6 0

3 years ago

Seven-year-old tim has a chinese american mother who believes that tim should obey her without question. according to the text,

Ymorist [56]

Seven-year-old Tim has a Chinese American mother who acknowledges that Tim should follow her without question. According to the text, Tim's mother may occasionally use shame or guilt as a tactic to discipline Tim.

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Some things are generally regarded “bad” by anyone. Physical abuse, negligence, emotional abuse, and sexual misuse are the most serious and damaging manners traits that most of us correlate with bad parenting.

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2 years ago