Answer:
There are issues with Revenue recognition, Accrual basis of accounting and Cash basis of accounting.
Explanation:
The ethical issues are important to handle with care in business. The accountant has used accrual basis accounting technique in order to apply for a loan. The revised financial statements are prepared with accrual concept so that the company is successful in procuring loan. The revenue should be recognized when performance obligation is completed and the required services are rendered. The accrual concept states that the transaction should be recorded when it occurs regardless when the cash is actually received. Daryl has been involved in unethical practice as he has instructed his accountant to prepare revised financial statements to portray that the company's performance is good. It is an intention to deceive bank in order to procure loan.
Answer:
Johan Co.
Explanation:
Since in the question it is given that the Johan Co. has an intangible asset and we already know that on an intangible asset, the amortization expense is charged whereas on the other side the Abco Co has goodwill on which the impairment is charged
So, in the given scenario, the amortization should be reported on Johan Co financial statements only
Answer:
Complementary
Explanation:
The complementary resource is a term that describes a type of resources contributed by each partner to a business or investment. In other words, it is the resources each partner brings to the partnership that, when merged together, provide for new resources or capabilities that neither firm could readily create alone.
Hence, the right answer is COMPLEMENTARY RESOURCES
Answer:
correct option is B. about 30 years
Explanation:
given data
real per capita GDP west = $10,000
annual growth rate = 2.33%
real per capita GDP east = $2,500
annual growth rate = 7%
to find out
How many years will it take for East to catch up GDP of West
solution
we know here that future value is equal to real GDP of west after time will be
future value = real per capita GDP west × 
future value = 10000 × 
.....1
and
future value = real per capita GDP east ×
future value = 2500 × 
.....2
compare equation 1 and 2
10000 × = 2500 ×
4 
= 
t = about 30 years
so correct option is B. about 30 years
Answer:
Correct option is (d)
Explanation:
Capacity refers to the amount of goods that a plant or organization can produce. Maximum capacity refers to the total number of goods produced at maximum efficiency.
In this case, Joe's plant could produce 1,000 items if all conditions are met, which means when the plant is at its highest efficiency. This states the maximum capacity of the plant.
