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Aneli [31]
3 years ago
12

An accountant has been engaged to compile the financial statements of a nonissuer. The financial statements contain many departu

res from U.S. GAAP because of inadequacies in the accounting records. The accountant believes that modification of the compilation report is not adequate to indicate the deficiencies. Under these circumstances, the accountant should __________.
Business
1 answer:
melisa1 [442]3 years ago
5 0

Answer:

Withdraw from the engagement and provide no further service concerning these financial statements.

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Watauga Office Supply paid state unemployment taxes of $168.00. What is the entry to journalize the payment of the unemployment
alisha [4.7K]

Answer:

State unemployment tax payable A/c Dr $168

         To Cash A/c $168

(Being state unemployment taxes are paid for cash)

Explanation:

The journal entry to record the payment of the unemployment taxes is shown below:

State unemployment tax payable A/c Dr $168

         To Cash A/c $168

(Being state unemployment taxes are paid for cash)

For recording this transaction, we debited the State unemployment tax payable as it increase the liability and cash account should be credited as it reduce the current assets

7 0
3 years ago
g The "monetary base" is simply: a. the total of all currency in circulation, outside banks b. the total vault cash held among a
Zanzabum

Answer:

e. the total of currency in circulation, plus depository institution reserves and vault cash

Explanation:

Monetary base is a concept in money supply that measures highly liquid assets in an economy.

It includes all cash that is in circulation in the economy and those deposits that are held as reserves by the central bank from commercial banks. Cash in bank vaults are also included because they are readily available to the economy.

For example if there is $200 million in circulation and there is $13 billion in the central bank as reserves from commercial banks, the total monetary base is $13.2 billion

6 0
3 years ago
The law of demand states that A. a higher price will lead to increased sales. B. quantity demanded will vary inversely with the
Alchen [17]

Answer:

The correct answer is B. The law of demand states that quantity demanded will vary inversely with the price of the good.

Explanation:

The law of demand states that the value of demand decreases as the price of the product increases, that is, between the value of demand and the price there is an inverse relationship, therefore, an increase in price causes a decrease in demand, and a decrease in price causes an increase in demand.  

Therefore, manufacturers who have decided to produce more should know that an increased number of goods can only be sold at a lower price.

The quantity of goods purchased depends on the price as well as on the average income of the buyers, the size of the market, the price and usefulness of other goods, including substitutes, subjective tastes and preferences of buyers.

8 0
2 years ago
Read 2 more answers
You buy a seven-year bond that has a 6.50% current yield and a 6.50% coupon (paid annually). In one year, promised yields to mat
Harlamova29_29 [7]

The current yield and annual coupon rate of 6.50% show that the bond price was at par a year ago.

The givens are FV=1,000, n= 6, PMT = 65.00, and i= 7.50 so with this we know that the selling price this year is $953.06.

So the holding period return is $1,000+$953.06+$65.00

$1,000=0.0181=1.81%

Hope this helps, now you know the answer and how to do it. HAVE A BLESSED AND WONDERFUL DAY! As well as a great rest of Black History Month! :-)  

- Cutiepatutie ☺❀❤

7 0
3 years ago
What is the one area in the list below in which manufacturers do not have to use due care?
Sonja [21]
The one are in which manufacturers do not have to use due care is : 
using adequate test marketing
They only need to use it in an area where they may unintentionally cause harms to other people
6 0
2 years ago
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