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Novosadov [1.4K]
3 years ago
10

Qualified Retirement plans must provide a written Investment Policy Statement. Under ERISA interpretations, all of the following

items must be included in the Investment Policy Statement EXCEPT:
[A] the client/participants investment goals and objectives
[B] risk tolerance and liquidity requirements of the client/participant
[C] time horizon
[D] a list of the actual securities in the portfolio
Business
1 answer:
mariarad [96]3 years ago
7 0

Answer:

D: a list of the actual securities in the portfolio

Explanation:

Under Employee Retirement Income Security Act of 1974 (ERISA) interpretations, the details of risk, time horizon, target asset mix, investment goals and objectives, and guidelines for review are among the items which must be disclosed in the statement. A list of the specific investments in the plan is not a required disclosure.

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The following transactions apply to Ozark Sales for Year 1:
Anni [7]

Answer and Explanation:

According to the scenario, The presentation of the each financial statement is presented below:

                                                    Income Statement

Particular                                         Amount ($)

Sales                                                    203,000

Less - merchandise cost                    128,000

Gross Profit                                              75,000

Less-Operating expenses paid             53,500

Less-Paid warranty repairs                       5,500

Less-Provision for warranty($203,000 ×3%) 6,090

Less-interest expenses($20,000 × 6% × 4 ÷ 12) 400

Net Income                                                   9510

                                              Balance Sheet

Assets        Amount ($)               Liabilities

                                                     & stockholder’s equity Amount ($)

Cash        92,300                       Accounts payable

                                                          ($176,500-$124,200)     52,300

Merchandise

inventory

($176,500-$128,000)  48,500    Sales tax payable

                                                          {($203,000 × 7%) - $10,710}  3,500

                                              Warranty payable 6,090

                                               Interest payable 400

                                               Notes payable 20,000

                                               Common stock equity 49,000

                                               Retained earnings 9,510

Total              140,800                              Total            140,800

                                                  Cash Flow Statement

Particular                                                                 Amount($)

Cash flow from operating activities:-  

Cash receipt from sale                                                   217,210

Less - Paid accounts payable                                  -124,200

Less - Sales tax paid                                                  -10,710

Less - Paid warranty repairs                                           -5,500

Less - paid operating expenses                                  -53,500

Total amount of Cash flow from operating activities 23,300

Cash flow from investing activities:-  

Cash flow from financing activities:-  

Issue of common stock                                                        49,000

Add-Borrowing from local bank                                      20,000

Total amount of Cash flow from financing activities        69,000

Net increase in cash                                                        92,300

Opening cash balance                                                               -

Ending cash balance                                                           92,300

Working note:

Total Cash  Amount

Particulars                                                            Amount ($)

Amount received from issue of common stock        49,000

Add-Sold equipment $203,000 + ($203,000 × 7%) 217,210

Less-Sales tax paid to the state agency ($153,000 × 7%) 10,710

Add-Borrowed from local bank                                       20,000

Less-Paid warranty repairs                                               5,500

Less-Paid operating expenses                                    53,500

Less-Paid accounts payable                                            124,200

Net cash                                                                          92,300

                                  Retained Earnings

Particulars                                                 Amount ($)

Sold equipment                                       203,000

Less-Merchandise cost                              128,000

Less-Paid warranty repairs                        5,500

Less-Paid operating expenses              53,500

Less-interest expenses                              400

Less-Provision for warranty                       6,090

Net Retained earnings                               9,510

These are items of the financial statement i.e listed above

5 0
3 years ago
If a plan sets long term goals for an organization it is
Archy [21]

There are six types of business plans:

<span>1.      </span><span>Start-up – details the steps to start a new business.</span>

<span>2.      </span>Internal -  targets an audience within the business

<span>3.      </span>Strategic - details company’s goals and how to achieve them, lays out a foundational plan for the company

<span>4.      </span>Feasibility - describes the need for the product or service, makes recommendations

<span>5.      </span>Operations -  are internal plans that consist of elements related to company operations

<span>6.      </span>Growth plans.- are expansion plans written for internal or external purposes

If a plan sets long-term goals for an organization it is strategic planning.

3 0
3 years ago
Firms will generally make-to-order when
Semmy [17]

Firms will generally make-to-order when the demand for goods is not stable.

<h3>What is Make to order?</h3>

Make to order (MTO) is a production process that involves a customer ordering a specific products which is usually different from the general products.

The products may be customized and its usually done when a company has less demand or work.

Therefore, Firms will generally make-to-order when the demand for goods is not stable.

Learn more make to order below

brainly.com/question/24553900

#SPJ1

8 0
2 years ago
The statement of cash flows for Baldwin Company shows what happens in the Cash account during the year. It can be seen as a summ
gavmur [86]

Answer:

A) It is a use of cash, and will be shown in the investing section as a subtraction.

B) Depreciation Expense

C) Chester’s long-term debt will rise by $10,000,000

D) Broad differentiation

E) Andrews ROE will increase.

Explanation:

A) As the company will do a cash dibursement will be considered cash use and because is investing on it to increase future cash flow

B) A period cost is a cost which cannot be capitalized into an asset. As cost which occur as the time passes over the years Which is the case for depreciation expense

C) bonds payable for 10,000,000 will be recorded

the leverage is a ratio to analize the firm it does not influence the accounting

D) The company differenciate his products from the rest of their competitors in a great variety of products rather than a single buyer segment.

E) ROE will increase as the leverage makes the debt weight increase while the equity weight (proportion of the company owned by the stockholders)

For the rest ofthe options the information provided is insufficient please do another question with the information

8 0
3 years ago
Discuss why exploring different career options is an important step in choosing the right path in your professional life. What a
AnnyKZ [126]

1) You can get to know what career suits you the most

2) Know about the relevant options you can go for

3) Know what career suits your qualifications

4) Benefits and pros and cons

3 0
3 years ago
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