You need to have an emergency fund that can cover___

insens350 [35]

Answer:

a. Mr Smith's orange business because it's a small fraction of the economy

3 0

2 years ago

The auditing standards board has concluded that analytical procedures are so important that they are required during the?

Musya8 [376]

The Auditing Standards Board has concluded that analytical procedures are so important that they are required during planning and completion phases.

The American Institute of Certified Public Accountants has designated the Auditing Standards Board as its senior technical committee for the purpose of issuing standards, guidelines, and auditing, attestation, and quality control statements to certified public accountants for audits of non-public companies.

The Auditing Standards Board (ASB) provides certified public accountants with standards, guidelines, and auditing, attestation, and quality control statements (CPAs). It is the senior technical committee of the AIPCA and is in charge of creating generally recognized auditing standards (GAAS) for private enterprises.

Learn more about Auditing Standards Board (ASB) here

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3 0

2 years ago

The following monthly data are available for Coronado Industries. which produces only one product: Selling price per unit, $38;

In-s [12.5K]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

Selling price per unit= $38

Unit variable expenses= $14

Total fixed expenses= $42,000

Actual sales for June= 3000 units.

First, we need to calculate the break-even point in dollar using the following formula:

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 42,000/ [(38 - 14)/38]

Break-even point (dollars)= $66,500

Now, we can calculate the margin of safety in dollars:

Margin of safety= (current sales level - break-even point)

Margin of safety= (3,000*38 - 66,500)

Margin of safety= (114,000 - 66,500)

Margin of safety= $47,500

5 0

3 years ago

Pizza ltd. leased equipment from Tasty Company under a four-year lease requiring equal annual payments of sh.86, 038, with the f

adoni [48]

Answer:

Sh. 300,001.60

Explanation:

Note: <em>Missing word has been attached</em>

Particulars Amount

Annual payments 86,038

x PV Annuity due 8%, 10 periods 3.48685

Amount recorded for the leased asset 300,001.60

8 0

2 years ago

Wilson Inc. developed a business strategy that uses stock options as a major compensation incentive for its top executives. On J

jasenka [17]

Answer:

Wilson Inc. developed a business strategy that uses stock options as a major compensation incentive for its top executives. On January 1, 2021, 20 million options were granted, each giving the executive owning them the right to acquire five $1 par common shares. The exercise price is the market price on the grant dateâ€”$10 per share. Options vest on January 1, 2025. They cannot be exercised before that date and will expire on December 31, 2027. The fair value of the 20 million options, estimated by an appropriate option pricing model, is $40 per option. Ignore income tax.

Assume that all compensation expense from the stock options granted by Wilson already has been recorded. Further assume that 200,000 options expire in 2014 without being exercised. The journal entry to record this would include

5 0

2 years ago

You need to have an emergency fund that can cover____months of your fixed expences.