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lilavasa [31]
4 years ago
11

An accountant’s standard report on a compilation should state that the accountant

Business
1 answer:
drek231 [11]4 years ago
6 0

Answer:

A, Has not audited or reviewed the accompanying financial statements.

Explanation:

It is important that an accountant states that the financial statements of a compilation hasn't been reviewed so as to avoid a situation wherein the financial statement is not in accordance with accounting principles of the country, e.g United states.

An accountant is meant to just prepare financial statements for an organization without going against the accounting principles while management is responsible for presentaion of the financial statements.

Cheers. i hope this helps

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In each of the following situations, state whether the bonds will sell at a premium or discount. Required a. Valley issued $300,
IrinaK [193]

Answer:

a. Premium

b. Discount

c. Discount

Explanation:

a. Valley issued $300,000 of bonds with a stated interest rate of 7 percent. At the time of issue, the market rate of interest for similar investments was 6 percent.

Premium (discount) = Bond's stated interest rate - Market rate of interest for similar investments = 7% - 6% = 1% premium

Therefore, Valley's bond will sell at a premium.

b. Spring issued $220,000 of bonds with a stated interest rate of 5 percent. At the time of issue, the market rate of interest for similar investments was 6 percent.

Premium (discount) = Bond's stated interest rate - Market rate of interest for similar investments = 5% - 6% = -1% discount

Therefore, Spring's bond will sell at a discount.

c. River Inc. issued $150,000 of callable bonds with a stated interest rate of 5 percent. The bonds were callable at 102. At the date of issue, the market rate of interest was 6 percent for similar investments.

Premium (discount) = Bond's stated interest rate - Market rate of interest for similar investments = 5% - 6% = -1% discount

Therefore, River Inc.'s bond will sell at a discount.

3 0
3 years ago
Casey Motors recently reported net income of $148 million. The firm's tax rate was 40.0% and interest expense was $46 million. T
HACTEHA [7]

Answer:

$61,640,000

Explanation:

Earning before tax:

= Net income ÷ 60%

= $148,000,000 ÷ 60%

= $246,666,667

EBIT:

= Earning before tax + Interest expense

= $246,666,667 + $46,000,000

= $292,666,667

EVA:

= EBIT(1 - t) - (Capital employed × cost of capital)

= $292,666,667(1 - 0.4) - ($1,036,000,000 × 11%)

= $175,600,000 - 113,960,000

= $61,640,000

3 0
3 years ago
__________ refers to the investment that shareholders make in a company that cannot be recovered if the company fails and goes b
photoshop1234 [79]

Answer:

<em>Risk capital</em>

Explanation:

Risk capital <em>relates to funds allocated to risky operation and used to invest heavy-risk, elevated-reward.</em>

Diversification is key to a successful risk capital investment, because the prospects of each investment appear to be undetermined in nature, although the yields may be far above average when an investment is successful.

5 0
4 years ago
Nirav, Samantha, and Nev want to incorporate their small skateboard business. To do so, they must file legal documents with the
Sophie [7]

Based on the fact that the legal documents in question are to be used to incorporate the skateboard business, these are<u> Articles of Incorporation. </u>

<h3>What are Articles of Incorporation?</h3>

When a company needs to be created and registered with the government, it will need to supply certain documents that lead to its creation.

These are the Articles of Incorporation which serve as proof that a company has been registered / incorporated in a certain state.

Find out more on Articles of Incorporation at brainly.com/question/1198900.

5 0
2 years ago
Exercise 7-1 The controller for Clint Metlock Co. is attempting to determine the amount of cash to be reported on its December 3
Anettt [7]

Answer:

The amount of cash and cash Equivalents reported on December 31, 2017.

$8,698,231    

Explanation:

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

Download xlsx
3 0
3 years ago
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