Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
If a CPA does an audit irresponsibly, the CPA will be held liable to third parties who were recognized and not foreseeable to the CPA for gross negligence.
It needs to be specified if the third party had been “anticipatable,” liability; it may be recognized for ordinary negligence within a Rosenblum v. Adler decision.
Explanation:
Answer:
D) Paying a fee at another financial institution to cash the check. thats the answer
Explanation:
Answer:
Inventory balance will be of 73,318
Explanation:
Inventory 75,400
Account payable 75,400
to record goods received
Account payable 1,300
Inventory 1,300
to record return of goods
Inventory 700
Cash 700
to record payment of freight
Account Payable 74,100
Inventory 1,482
Cash 72,618
to record payment of invoice within discount period
75,400 - 1,300 = 74,100
74,100 x 2% = 1,482
Inventory balance:
<em> DEBIT CREDIT</em>
75,400
1,300
700
1,482
<u><em>balance: </em></u>
73,318