Answer:
E. None of the above
Explanation:
The only two accounts that you must add to net income are the amortization and depreciation
In order to reconcile net income to cash from operations the Amortization and Depreciation must be added to Net Income.
Why? because These accounts: Amortization and Depreciation are not cash accounts. This means that the figures in amortization and Depreciation are not actual outflows of cash but just a bookkeeping figure.
Answer:
: $4,610
Explanation:
The allowance for uncollectible accounts should be 2% of accounts receivable. So first we wil find out the 2% of $268,000.
($268,000 x 2%) = $5,360
Then we will subtract the $750 allowance for uncollectible accounts before any adjustments.
$5,360 - $750 = $4,610
The amount of the adjusting entry for uncollectible accounts would be: $4,610.
Answer:
D. They might order a greater number of gallons with jugs or with barrels, depending on various factors like the demand rate, ordering cost, and holding cost.
Explanation:
Let us assume the following things
D be the demand rate
P be the Unit cost
H be the holding cost per gallon per months
S be the ordering cost
Now the economic order quantity is
EOQ units = Q = √(2DS ÷ (H))
Therefore, the order quantity would be based upon demand rate, ordering cost and holding cost.
So the last option is correct
Answer:
B. Requiring disclosure of all relevant facts so that investors can make informed decisions.
Explanation:
The Securities and Exchange Commission (SEC) is a governmental agency saddled with the sole responsibility of regulating the securities or capital markets, as well as protecting investors in a country.
In the United States of America, the Securities and Exchange Commission (SEC) as an independent government agency was established under the Securities Act of 1933 and the Securities and Exchange Act of 1934 of the United States of America. It has the power to propose securities rules and regulations, and enforce federal securities law in the securities market.
The basic purpose of the securities laws in the United States is to regulate the issuance of investment securities by requiring disclosure of all relevant facts so that investors can make informed decisions.
Some of the forms to be filled as required by the United States of America, Securities and Exchange Commission (SEC) includes;
1. Form 10-K.
2. Form 10-Q.
3. Form 8-K.
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