Answer:
2) Debit to Cash (for dividends received from the investee), and a Credit to Dividend Revenue.
Explanation:
Whenever the investment is made in shares of a company where the investor can exercise significant influence, then equity method is used.
Under equity method, it is that all incomes of investee company are incomes of investor company.
And any amount of income received as a distribution is deducted from the carrying value of investment, as reduces the cost of investment.
Thus, any dividend received is debited and investment account is credited.
Dividend is never treated as dividend revenue.
Thus, option 2 is not correct.
Answer:
Explanation:
NASSA rules are set of laws enacted to guide the administration of business and trading activities. Some of the NASAA are protection of vulnerable adults from financial exploitation and guides against unethical practices by investment advisers.
NASSA rules does not forbid RIA from charging an incentive fee based on investment performance, however , it must be able to prove that the fee charged is fair , reasonable and affordable by the customer , in as much as the customer is not being financially exploited.
Answer:
d.All of these choices are true.
Explanation:
In a process costing system, a.There is no need to track materials to processes.b.There is no need to use time tickets to assign costs to processes.c.A process costing system is more expensive to maintain because it has more work-in-process accounts.d.All of these choices are true . All of the choices given are true .
Answer:
I used an excel spreadsheet to record this transactions on an accounting equation.
Practice Makes Perfect, Inc.
Income Statement
For the month ended July 31, 202x
Revenues $2,000
Expenses:
- Advertising expense $500
- Rent expense $1,000
- Wages expense $1,000
- Supplies expense $300
- Depreciation expense $750
- Interest expense $417 <u> ($3,967)</u>
Net income ($1,967)
Practice Makes Perfect, Inc.
Balance Sheet
For the month ended July 31, 202x
Assets:
- Cash $99,783
- Accounts receivables $1,800
- Supplies $1,700
- Pianos $47,250
Total assets $150,533
Liabilities:
- Accounts payable $2,500
- Notes payable $50,000
Total liabilities $52,500
Stockholders' equity
- Common stock $100,000
- Retained earnings ($1,967)
Total stockholders' equity $98,033
Total liabilities + equity $150,533
Hello there!
There is quite a HUGE difference between these both. When being frauded or making a fraud, this would also be known as stealing money.
But when making a mistake in a statement, they can be things resolved faster than if a person were to steal money. When making this mistake, you could resolve this by explaining why this was a mistake and also what could you do to fix it as well.
Both of these kind of acts are seriously two major different things, they have nothing in common.
