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jok3333 [9.3K]
3 years ago
6

Suppose you are starting a​ business, wholly​ shirts, to imprint logos on​ t-shirts. in organizing the business and setting up i

ts accounting​ records, you take your information to a cpa to prepare financial statements for the bank. name the organization that governs the majority of the guidelines that the cpa will use to prepare financial statements for wholly shirts. what are those guidelines​ called?
Business
1 answer:
Ilya [14]3 years ago
7 0
The guidelines is called <span>Generally accepted accounting principle.
</span><span>Generally accepted accounting principle is a method to conduct financial reporting that is deemed as acceptable for Security Exchange Comission.
</span>The purpose of the GAAP is to ensure that all companies follow a generalized rule in making their finnacial report.
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Which reason for trade barriers is being used when the us refuses to trade with another country because they use child labor to
Kruka [31]

The reason why trade barriers is being used when the us refuses to trade with another country is: Upholding standards.

<h3>What is upholding standard?</h3>

Upholding standard is the process were a country tend to follow and maintain their set standard without deviating from it.

United states refuse to trade with others country because  other country were using children as a laborer to produce goods and United state is against it leading to what is called trade barrier.

Inconclusion the reason why trade barriers is being used when the us refuses to trade with another country is: Upholding standards.

Learn more about upholding standard here:brainly.com/question/6868717

4 0
2 years ago
Over the past 50 years, many countries have experienced an annual growth rate in real GDP per capita greater than that of the Un
Lady_Fox [76]

Answer:

No, the U.S. is not regressing

No, it will not take over the U.S.

Explanation:

No, the United States is not regressing because the poor country can boost their growth rate by taking the advanced technology from the developed countries like the United States. So it is easy to poor countries to increase their growth rate but for the developed nations who already using the advance technology is difficult to increase growth rate.

No, the country will not take over the United States because the percentage increase in GDP can be greater but actual value of GDP will be very high in developed nations.

3 0
3 years ago
The RST Company makes 38,000 parts to be used in its main products. The cost per part at this activity level is:
Rudiy27

Answer:

($43,700)

Explanation:

38,000 units produced:

  • Direct materials  $ 6.50
  • Direct labor  $6.60
  • Variable manufacturing overhead $3.75
  • Fixed manufacturing overhead  $3.45
  • total cost per unit = $20.30

outside supplier offers parts at $18 per unit

fixed manufacturing overhead is unavoidable

                                Alternative 1             Alternative 2        Differential

                                keep producing       buy                        amount

Prod. cost                $771,400                               $0            $771,400

Purchase cost                    $0                  $684,000            ($684,000)

<u>Unavoidable costs            $0                     $131,100               ($131,100) </u>

total                         $771,400                    $815,100               ($43,700)

The financial disadvantage of purchasing the parts from an outside vendor = ($43,700)

3 0
3 years ago
Yates Co. uses the allowance method to account for bad debts. At the end of the period, Yate's unadjusted trial balance shows an
Sedbober [7]

Answer:

The bad debts would be debited with $5,000.

Explanation:

The bad debts under the allowance method is calculated by either as a percentage of accounts receivables or as a percentage of sales.

Percentage of Sales method:

In the percentage of sales method the allowance is calculated as below:

Allowance for doubtful debts = Sales * Percentage for doubtful debts

Allowance for doubtful debts = $500,000 * 1% = $5,000

Now always remember that this amount will be used only and their is no need to include the allowance for doubtful accounts balance.

Whereas on the other hand, in the percentage of accounts receivable method the allowances are included in the amount calculated.

The entry would be:

Dr Bad Debt Expense $5000

Cr Allowance for Doubtful Debts $5000

8 0
3 years ago
How much of a good is offered for a sale at a specific price?
Sindrei [870]
It is indeed quantity supplied and the economists define it as the amount of a good that sellers are willing to sell and are able to sell. One of the movements related to the quantity supplied syas that when there are rising prices then there are new firms into a market and add to the quantity supplied of a good. Quantity supplied can be measured with a Market supply curve or the <span>Elasticity of supply.</span>
8 0
3 years ago
Read 2 more answers
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