Answer:
Option B and C are correct because adjusting entries arises due to mistakes and errors found in the recording of transactions and this does not arises in the start of the accounting period. It arises in the month ends and interim & final audits. The internal auditors also reviews the financial statements to eliminate all the errors and ommissions in the Financial statement.
Option A is incorrect because adjusting entries are passed both in accrual accounting and cash accounting system.
Option D is incorrect because these adjustments arises at the end of months and year audits.
Answer:
0.65 per share
Explanation:
Calculate weighted average share
Date Weighted average share
Jan 1 200*1.05*2/12 35
Mar 1 (200-24)*1.05*4/12 61.6
July 1 184.80*3/12 46.2
Oct 1 188.80*3/12 47.2
Total 190
Earning per share = (150-27)/190 = 0.65 per share
Answer:
TRUE.
Explanation:
A secondary boycott is an attempt to influence the actions of one business by exerting pressure on another business. It is a situation where one refuses to do business with a company in an attempt to persuade them not to do business with another company where the employees are striking or involved in a disagreement with their employees.
Typically a labor union involved in a dispute with an employer will arrange a secondary boycott if less drastic measures to reach a satisfactory accord with the employer have been ineffective. Secondary boycotts have two main forms: a secondary consumer boycott, in which the union appeals to consumers to withhold patronage of a business, and a secondary employee boycott, in which the union dissuades employees from working for a particular business.
Since the postal employees refused to deliver mail claiming that they were honoring the strike for their fellow service union members. Therefore, it is TRUE that the postal employees were participating in a voluntary secondary boycott.
Answer:
1 Jan 2021- Debit Investment $220 million, Credit Bank $201 million, Credit Discount received $19 million.
30 June 2021 Debit Bank $8,800,000 Credit Interest income $8,800,000
31 December Debit Bank $8,800,000 Credit Interest income $8,800,000
31 December 2021 Debit Fair value loss $10 million, Credit Investment $10 million.
Explanation:
Required: prepare journal entries.
interest income = 220 million *0.08 *6/12= $8,800,000
fair value gain or loss = opening fair value - fair value at the end of the year
= 220 million - 210 million
= $10 million
Part 1. The problem with the manager asking for an adjustment of the bad debt loss to meet the desired bonus is that it is <u>unethical</u>.
<h3>What is ethical accounting?</h3>
Ethical accounting follows the specific rules of the accounting profession and not the personal biases of management.
Accounting ethics deals with the following principles:
- Integrity
- Objectivity
- Professionalism,
- Confidentiality
- Professional competence and due care.
Part 2. The amount that would be recorded as the bad debt expense is $10,560
<h3>Data and Calculations:</h3>
2% of $33,000 = $660
5% of $14,000 = $700
10% of $22,000 = $2,200
25% of $12,000 = $3,000
40% of $10,000 = $4,000
Total $10,560
Part 3. The bad debt expense for the year would be $10,560 if there were no previous balance of the allowance for doubtful accounts.
Part 4. Since the required information is lacking, we can conclude that it is unethical behavior if the bad debt expense must be adjusted to meet the desired bonus target.
Learn more about ethical accounting at brainly.com/question/13396824
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