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3 years ago

A company might hire an accountant if it wants help with which of the following duties?

Business

2 answers:

AlladinOne [14]3 years ago

6 0

Answer:

The correct answer would be D, All of the above.

Explanation:

An accountant is a person in a company who manages all the financial transactions of that company. From recording entries till the preparation and understanding of complex financial statements and analyzing and recommendations for the financial decisions, an accountant is helpful for the company. An accountant keeps financial records, also helps in understanding the tax code and prepare the financial statements of the company. Company may also seek recommendations from him about a future financial decision.

Ira Lisetskai [31]3 years ago

4 0

The correct answer is A.
Keeping financial records. The purpose of managerial accounting is different with the purpose of financial accounting whereby managerial accounting assists in decisions of the internal management for the firm. In accounting, we have an equation which states that liabilities plus owners equity is equal to the asset.

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On January 1, 2018, the Accounts Receivable and the Allowance for Doubtful Accounts balances of Kendall Company were $40,000 and

aivan3 [116]

Answer:

Bad Debt Expense = $652

Explanation:

Ending balance [Un-adjusted) = Beginning balance + Credit sales - Cash collected - Written off

Ending balance [Un-adjusted) = $40,000 + $80,000 - $78,200 - $500

Ending balance [Un-adjusted) = $41,300

Allowance For Doubtful Accounts = Beginning balance - Written off

Allowance For Doubtful Accounts = $1,500 - $500

Allowance For Doubtful Accounts = $1,000

Adjusted amount required = $41,300 × 4%

Adjusted amount required = $1,652 Credit

Un-adjusted balance available = $ 1000 Credit

Bad Debt Expense = Adjusted amount required - Un-adjusted balance available

Bad Debt Expense = $1,652 - $1,000

Bad Debt Expense = $652

7 0

3 years ago

Innovative Components is a manufacturer of computer parts. The company recently reported earnings of $2,014,802. In addition, In

sp2606 [1]

Answer:

C) $128.15

Explanation:

The computation of the intrinsic value of Innovative Components’ equity per share is shown below:

= Retained earnings ÷ number of shares issued × PE ratio

= $2,014,802 ÷ 402,500 shares × 24.6

= $128.15

We simply applied the above formula so that the intrinsic value of Innovative Components’ equity per share could come

and ignored the company PE ratio of 24.6

6 0

3 years ago

Andrew is a financial planner and charges fees of 2% for every investment made. He made investments worth $500,000. What amount

eduard

Fees charge = 2%
Investment worth = $500,000
Amount due = 2/100 * 500,000 = 10,000
The amount Andrew will receive as compensation is $10,000.

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4 years ago

If a stock's P/E ratio is 13.5 at a time when earnings are $3 per year and the dividend payout ratio is 40%, what is the stock's

REY [17]

Answer:

Price of share = $40.50

Explanation:

P/E ratio describes the price to earnings ratio.

Provided if P/E ratio = 13.5

And Earnings per share = $3 per share.

That means,

$\frac{Price}{Earnings} = 13.5$

$\frac{Price}{3} = 13.5$

Price = 13.5 $\times$ 3 = $40.5

Therefore, it is not dependent on dividend payout ratio, and the price = $40.50

4 0

3 years ago

G MC Qu. 87 When is a goodwill impairment loss... When is a goodwill impairment loss recognized?

marin [14]

Answer:

Goodwill impairment occurs when a company decides to pay more than book value for the acquisition of an asset.

An impairment is recognized as a loss on the income statement and as a reduction in the goodwill account. The amount of the loss is the difference between the current fair market value of the asset and its carrying value or amount.

Explanation:

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3 years ago