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3 years ago

Independent auditors express an opinion on the:________.

Business

1 answer:

katen-ka-za [31]3 years ago

6 0

Answer:

A) Fairness of financial statements.

Explanation:

Auditors review the financial statements of firms.

An unqualified or clean audit opinion means the financial statements are true and fair.

A qualified opinion means that there is some exception to accounting standards in the financial statement.

An adverse audit opinion means that the financial statement are not fairly represented

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An asset is purchased on January 1 for $44,700. It is expected to have a useful life of five years after which it will have an e

Black_prince [1.1K]

Answer:

Gain of $2,780

Explanation:

Calculation to determine what The company will record If it is sold for $32,000 exactly two years after it is purchased

First step is to calculate the Annual depreciation expense using this formula

Annual depreciation expense = (Cost − Residual value) × (1 ÷ Useful life)

Let plug in the formula

Annual depreciation expense = ($44,700 − $6,000) × (1 ÷ 5)

Annual depreciation expense =$38,700× (1 ÷ 5)

Annual depreciation expense =$ 7,740

Second step is to calculate the Accumulated depreciation using this formula

Accumulated depreciation = Year 1 depreciation expense + Year 2 depreciation expense

Let plug in the formula

Accumulated depreciation = $7,740 +$7,740

Accumulated depreciation = $15,480

Now let calculate the Gain (loss) on disposal

Using this formula

Gain (loss) on disposal = Proceeds from sale − (Cost − Accumulated Depreciation at time of sale)

Let plug in the formula

Gain (loss) on disposal = $32,000 − ($44,700 − $15,480)

Gain (loss) on disposal =$32,000-$29,220

Gain (loss) on disposal=$2,780

Therefore If it is sold for $32,000 exactly two years after it is purchased, the company will record a GAIN of $2,780

5 0

2 years ago

Small Treasure Gifts is deciding whether to sell its products in kiosks outside subway stations or in stores at popular malls. W

Monica [59]

Answer:

Place

Explanation:

Marketing mix is the understanding of 4 important and controllable elements of marketing plan. Usually, these elements are considered as 4P which are Product, Place, Price and Promotion.

Place: To enter more effectively or in general to be successful in the market, as a supplier you should choose your segment or where to reach to your potential customers carefully and certainly. That’s why the place which is selected must be considered where the target market is.

Product: It is very important to develop your product to make the customers to have “willingness to pay”. So it has to have unique or good design, standards, quality and other important attributes. You should seek to sell the products which have big demand.

Price: There should be the reasonable price to the customers who will be able to buy your products. Sure, the price is established after the analysis of your costs (fix, variable and etc.). However, you should be careful about your rivals in the price policy. The buyers will have always power on you in this case so they can substitute your product to others.

Promotion: This element is about the process of explanation how your product will create the value on the customers. It is very necessary point on the value chain activities. If you have a better promotion than others your products will be demanded more or permanently.

3 0

2 years ago

Saturn Corporation issued $300,000 par value 10-year bonds at 107 on January 1, 20X3, which Star Corporation purchased. Pluto Co

taurus [48]

Answer:

a. $8,000 gain

Explanation:

The face value of the bonds purchased by Pluto Corporation are $120,000. The bonds are purchased at discount of $1,980. The bonds have carrying value of $126,019 at the time of purchase. The net gain or loss is calculated by the difference between two values.

$120,000 - $126,019 - $6,019

The discount amount of the bond was $1,980.

Total gain on the bonds approximately ($6,019 + $1,980) = $8,000

8 0

2 years ago

You have just received an offer in the mail from Friendly Loans. The company is offering to loan you $4,250 with low monthly pay

Kobotan [32]

Answer:

73 months

approximately 6 years

Explanation:

The period of time it would take to pay off the loan can be determined using excel nper function as below:

=nper(rate,pmt,-pv,fv)

rate is the interest expressed in monthly terms which is 15.3%/12

pmt is the amount payment per month i.e $90

pv is the amount of loan which is $4250

fv is the balance of the loan after all payments have been made i.e $0

=nper(15.3%/12,90,-4250,0)= 73 months

73 months/12 months=approximately 6 years

8 0

3 years ago

A proposed new investment has projected sales of $557,000. Variable costs are 39 percent of sales, and fixed costs are $131,000;

Lana71 [14]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.

8 0

3 years ago