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scZoUnD [109]
4 years ago
7

Benji works for a private firm that has been contracted to examine the books of accounts of the sanborn corporation. after she h

as checked the figures and examined the company's accounting methods, she is required to prepare a report on her findings. the work that benji is tasked with is characteristic of a(n) _____.
Business
1 answer:
Lorico [155]4 years ago
5 0
I would say that the work that Benji conducted on the books of the Sanborn Corporation would be classified as a financial audit because she checked their figures, examined their accounting procedures and prepared a report so this would qualify as an audit. 
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If the Fed increases the discount rate, which of the following accurately describes the system, finally leading to a decline in
AnnyKZ [126]

Answer:

B

Explanation:

Reserves J: Excess reserves J: Loans J: Deposits ;Money supply

8 0
3 years ago
Hemingway Corporation has 100,000 shares of common stock issued and outstanding. At the meeting of the board of directors on Dec
DaniilM [7]

Answer:

See the journal entry below

Explanation:

Retained earnings A/c Dr $500,000

Dividends payable A/c Cr $500,000

Here, cash dividend is being declared by the board on 100,000 shares hence the account of retained earnings is debited and account of dividends payable is credited.

NB.

Amount = Share × Price per share

Given that;

Share = 100,000

Price per share = $5

Amount

= 100,000 × $5

= $500,000

4 0
3 years ago
You have been pricing an MP3 player in several stores. Three stores have the identical price of $500. Each store charges 24 perc
Alja [10]

Answer:

Store A = $9

Store B = $8

Store C = $10

Explanation:

Finance charges calculated by average daily balance finance charges basis, adjusted balance method finance charges basis and Previous Balance Method Finance Charge basis is calculated as follows

Store A:

Average Daily Balance Finance Charge basis = ($500 + $400) /2

Average Daily Balance Finance Charge basis = $450

Finance Charges = $450 x (24% / 12)

Finance Charges = $9

Store B:

Adjusted Balance Method Finance Charge basis = $500 - $100

Adjusted Balance Method Finance Charge basis = $400

Finance Charges = $400 x (24% / 12)

Finance Charges = $8

Store C:

Previous Balance Method Finance Charge basis = $500 - $0

Previous Balance Method Finance Charge basis = $800

Finance Charges = $500 x (24% / 12)

Finance Charges = $10

3 0
4 years ago
A convenience store owner is contemplating putting a large neon sign over his store. It would cost​ $50,000, but is expected to
Radda [10]

Answer:  <em>No, since the value of the cash flows over the first two years are less than the initial investment</em>

Explanation:

value of cash flows for the first two years = $48,000 (24,000x2)

Initial Investment = $50000

Because the additional $48,000 profit during the two year payback is not grater than the $50,000 purchase, they should not put the large neon sign up.

4 0
3 years ago
Explain five reasons that may cause a company to redeem its own shares ​
pochemuha
- Companies buyback shares for a variety of reasons, including firm consolidation, increased equity value, and to appear more financially appealing.


-The disadvantage of buybacks is that they are frequently financed with debt, putting a burden on cash flow.


-Stock repurchases can have a modestly favorable impact on the economy as a whole.
4 0
2 years ago
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