Answer:
B. The Financial Accounting Standards Board
Explanation:
- The Mission of AICPA is, 'to Power the success of global business, CPAs, CGMAs and specialty credentials by providing the most relevant knowledge, resources and advocacy, and protecting the evolving public interest'.
- The Mission of the Public Company Accounting Oversight Board is to 'oversees the audits of public companies and SEC-registered brokers and dealers in order to protect investors and further the public interest in the preparation of informative, accurate, and independent audit reports'.
- The Misson of the Governmental Accounting Standards Board is to 'to establish and improve standards of state and local governmental accounting and financial reporting that will result in useful information for users of financial reports and guide and educate the public, including issuers, auditors, and users of those financial reports'.
Answer:
$6.30
Explanation:
For computing the unit price, first we have to determine the difference in cost which is shown below:
= $150,000 - $120,000
= $30,000
Now the break even price would be
= Variable cost + cost difference
= $600,000 + $30,000
= $630,000
So, the unit price would be
= Break even price ÷ number of unit produced
= $630,000 ÷ 100,000 units
= $6.30
Answer:
$368
Explanation:
Bad debts also known as uncollectible expenses are the portion of the accounts receivable in accrual accounting that have to be written off as they are eventually not paid by the accounts receivable.
One of the ways of estimating bad debt is allowance method , which is expressing a bad expenses as a percentage of credit sales based on experience and past records.
Days past due balance % uncollectible
Current 11,000 1% 110
30-60 days 2,400 3% 72
61-90 days 1,700 6% 102
Over 90 days 840 10% 84
Total 368
Bad debt expenses to be recognized is $368
Answer:
$5,550
Explanation:
Preparation of an Income statement
REVENUE :
Service revenue $8,200
Less EXPENSES:
Salaries expense $1,650
Utilities expense $1,000
Total Expenses($2,650)
($1,650+$1,000)
Net income $5,550
($8,200-$2,650)
Therefore the Net income amount for the income statement will be $5,550
The main purpose was to rebel against
