Answer:
C
Explanation:
no idea what a,b,c, and d are for. no question?
Answer:
1. Issued one million shares of common stock at $20 per share.
The proceed of the issuance of common stock shall be taken as cash inflow in the financing activities.
2. Paid $75,000 to suppliers for inventory.
The payment made to the suppliers shall be taken as outflow in the operating activities.
3. Paid a dividend of $1 per share to common stockholders.
The payment made to common stockholders shall be taken as outflow in the financing activities.
4. Loaned $50,000 to an employee and accepted a note receivable.
The loan given to employee shall be taken as outflow in the operating activities.
Answer:
Journal Entries
Date Accounts Titles Debit Credit
Nov 1 Warranty expense $3,120
($52,000 * 6%)
Estimated warranty payable $3,120
Nov 20 Estimated warranty payable $1,600
Cash $1,600
Dec 31 Vacation benefit expense $6,000
Vacation benefit payable $6,000
Dec 31 Employee bonus expense $1
,515
Employee bonus payable $1,515
<u>Working</u>
Bonus = 3% * (Net income-Bonus)
Let bonus= x
x = 3% * (52,000 - (1+x))
x = 0.03 * (52,000- (1+x))
x = 1560 - 1.03
1.03x = 1560
x = $1,560 / 1.03
x = $1,514.5631
Bonus= $1,515
Given that <span>Patrick
graduated from college five years ago. He has set up an emergency fund
and has been paying off his student loans. In addition, he participates
in the retirement plan offered by his employer. He wants to invest $75
per month in very small companies (capitalization between $50 and $300
million or less).
He should purchase micro cap stocks.
</span>M<span>icrocap refers to the stock of public companies in the United States which have
a market capitalization of roughly $50 million to $300 million.</span>
Answer:C. Documentation to demonstrate compliance with its policies and procedures.
Explanation:CPA(CERTIFIED PUBLIC ACCOUNTANT) firm system of quality control is generally expected to provide and maintain documentation to demonstrate compliance with its policies and procedures.
Monitoring and evaluation by regulatory bodies essentially requires documented evidence to show compliance, the ISO(INTERNATIONAL STANDARDS ORGANISATION) makes it as part of it requirements for QUALITY MANAGEMENT SYSTEM (QMS) that all firms must document,record and maintain its activities, in a document for reference purposes and to show compliance to established standards and procedures.