Answer:
$0
Explanation:
Amount paid by the customer for 100 preferred stock = 100 * $100 = $10,000
Number of preferred stock when converted to common stock = 100 * 2 = 200 shares
Revenue from selling the 200 shares = 200 * $50 = $10,000
Profit or loss to customer = Revenue from selling the 200 shares - Amount paid by the customer for 100 preferred stock = $10,000 - $10,000 = $0
Therefore, the customer made no profit nor loss.
Answer:
Consider the likelihood that the risks could result in material misstatements.
Explanation:
The risk of material misstatement is the risk that the financial statements of an organization have been misstated to a material degree. This risk is assessed by auditors at the following:
At the assertion level. This is further subdivided into inherent risk and control risk. Inherent risk is the susceptibility of an assertion to misstatement because of error or fraud, before considering controls. Control risk is the risk of misstatement that will not be prevented or detected by a reporting entity's internal controls.
At the financial statement level. Relates to the financial statements as a whole. This risk is more likely when there is a possibility of fraud.
Answer:
Cash Flow From Operating Activities indicate the amount of cash and income that a company get from its ongoing day to day and regular business activities.
Operating activities from Hampton Company reports are Net income, Depreciation, Accounts receivable increase, Inventory decrease
, Salaries payable increase
Cash flows from operating activities using the Indirect method
Net income 23,000
Depreciation 7,000
Accounts receivable increase -8,000
Inventory decrease 3,000
Salaries payable increase 700
Net cash provided by $25,700
operating activities
Answer:
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Lines PQ and RS intersect each other at . If POR: ROQ = 3:7, find all the angles a, b, c and d.
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