Answer:
Explanation:
As auditor, I may not agree with the policy that is been changed. It
is believed that, by default there is a normal loan risk that is been associated with the business of Pacific Bank. A way to help reduce this risk is to carefully asses the loan applications. Loans that are large has greater risk in the event of default compared to smaller loans. Therefore, it is reasonable to have more than several individual involved in decision making give a loan that is very big. In addition, loans should be given base on those that meet the requirements, it should not be on the base on favoritism or people with relationship with bank president. Giving the bank president the power to give huge loans may lead to him granting loans to people who he is familiar with, without the required due process been followed. This may cause the bank to be credit exposed risks that are poor.
Answer:
The government needs to revamp the Social Security program to make it sustainable.
Explanation:
Normative economics consists in the belief in the normalization of market events through interventions in legislation. Among the options, the only alternative that denotes a normative character is that states that the government needs to renew the Social Security Program to make it sustainable. The other alternatives have more informational character - not normative.
Answer:
$16,667
Explanation:
Annual Depreciation = (Original Value - Residual Value) / Useful Life
Annual Depreciation = ($88,000 - $8,000) / 8
Annual Depreciation = $10,000 [Depreciation for 2010 = $10,000]
Depreciation for 2009 = $10000 * 8/12
Depreciation for 2009 = $6,667
Total Accumulated Depreciation = $10,000 + $6,667
Total Accumulated Depreciation = $16,667
So, the total accumulated depreciation on this machinery at the end of 2010 will be $16,667.
Answer:
Assets Liaiblities
current current
cash 65,000 interest payable 27,000
prepaid rent: 19,500
marketable 55,000
non-current non current
prepaid rent 19,500 notes payable 230,000
marketable sec 55,000
Explanation:
We must determinate the current and non-current portion of assets and liaibilities:
current assets: will convert to cash within a year or is cash
crrent liaibility: obligation within a year
<u>prepaid rent:</u>
it is for 2-years therefore half is current (within a year) and half is non current.
39,000 / 2 = 19,500
<u>notes payables: </u>
the interest accrued are current as will be paid within 2022
the principal don't
<u>marketable securities:</u> 110,000 and a half will be sold the rest will be kept.
Last, cash is alwas current as the definition of current is that can be converted into cahs within 12 months
The cash already is cash
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