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DochEvi [55]
2 years ago
10

Wayne Rogers Corp. maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from

its regular bank, Wayne Rogers Corp. requests you as its independent CPA to convert its cash-basis income statement data to the accrual basis. You are provided with the following summarized data covering 2013, 2014, and 2015.
2013 2014 2015
Cash receipts from sales:
On 2013 sales 293,430 166,990 39,820
On 2014 sales 361,040 94,750
On 2015 sales 409,660
Cash payments for expenses:
On 2013 expenses 191,910 68,8703 4,880
On 2014 expenses 45,320 a176,560 55,130
On 2015 expenses 47,250 b222,210
a) Prepayments of 2014 expenses.
b) Prepayments of 2015 expenses.

Business
1 answer:
kiruha [24]2 years ago
3 0

Answer:

Kindly check attached picture

Explanation:

Given the following :

2013 2014 2015

Cash receipts from sales:

On 2013 sales 293,430 166,990 39,820

On 2014 sales 361,040 94,750

On 2015 sales 409,660

Cash payments for expenses:

On 2013 expenses 191,910 68,8703 4,880

On 2014 expenses 45,320 a176,560 55,130

On 2015 expenses 47,250 b222,210

Kindly check attached picture for detailed explanation

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You are the project manager assigned to a project to upgrade an old bus shelter. The shelter is located along South Street trave
Zarrin [17]

Answer:

Risks of the project include

disruption in the highway during renovation process. - High risk

Poor material used in the construction - High risk

Rainfall may delay the work process. - Medium risk

Traffic flow management will be difficult during peak hours. - Medium risk

Dust and noise during the construction will disturb the society. - Low risk

Explanation:

The risk register includes Risk description, its impact in terms of probability and measures to mitigate such risk. There are many potential risks that are associated with the construction of the bus shelter. The risks are not acceptable as the highway disruption should be kept to minimum and any delay in the work is not tolerable. These risks are reduced by deploying extra labors so that the renovation work is completed on time.

4 0
3 years ago
Each month the Census Bureau carries out the Current Population Survey (CPS) (which has been carried out every month since 1940)
katovenus [111]

Answer:

a) 60,000

Explanation:

The Current Population Survey(CPS) contacts a representative sample of 60,000 people of age 15 and above every month in order to make an inferential assumption about the US population as a whole.

7 0
3 years ago
The financial statement that reports the changes in the retained earnings and common stock for a period of time is known as the.
Tamiku [17]

The statement of owner's equity—also called the statement of retained earnings—shows the change in retained earnings between the start and end of a period (e.g., a month or a year). The record reflects a company's solvency and financial position.

<h3>What are the three financial statements?</h3>

The earnings report , record , and statement of money flows are required financial statements. These three statements are informative tools that traders can use to research a company's financial strength and provide a quick picture of a company's financial health and underlying value.

What is the statement of retained earnings ?

Reports the way that net and the distribution of dividends affected the financial position of the company during the accounting period. the sum of the share of net income which is not paid to the shareholder as dividend. the aim of the retained earnings is reinvestment

Learn more about financial statement:

brainly.com/question/26240841

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8 0
1 year ago
Suppose a bond with a 10% coupon rate and semiannual coupons, has a face value of $1,000, 20 years to maturity and is selling fo
NikAS [45]

Answer:

The YTM is less than 10%

Explanation:

If a coupon rate of a bond is greater than its yield to maturity (YTM), the bond is said to trade at a premium. The Bond's current price would be greater than its Face value

If a coupon rate of a bond is less than its yield to maturity (YTM), the bond is said to trade at a discount. The bonds current price would be less than its face value

In this Question, the bond's current price ($1,197.93) is greater than its face

($1,000) which means that the bond is trading at a premium. Therefore, we can conclude that the bond's YTM is less than its coupon payment. In this question the coupon rate is 10%, therefore the YTM should be less than 10%.

8 0
3 years ago
We typically hear of the gains from trade coming through specialization wherein each nation produces more of and exports that go
Brut [27]

Answer:

Generally theoretical models work only in theory. E.g. perfect competition models exist in theory but no market is really a perfect competition market.

The Ricardian model or the H-O model, or other trade models make the mistake of assuming that resources can be allocated at will and almost immediately, e.g. a fisherman can immediately become an engineer and start developing apps. Or a farmer that produces corn or rye (very popular examples) can suddenly start working at a factory producing bluejeans.

In real life, it doesn't happen. Also, trade models never consider natural trade barriers and extra costs related to trade. E.g. it is not the same to sell $10,000 worth of corn (you need a very large truck) than selling $10,000 worth of jeans (all you need is a small delivery van). In real life, trade is not simple, it is actually extremely complicated.

E.g. everyone knows that manufacturing goods in America is not efficient, at best companies can be less inefficient, but no manufacturing company in America is really efficient if we compare them to foreign companies. Even people who work in manufacturing industries know this, but they want to continue working in them. They want the companies to keep producing in America and they want to keep their jobs. Not everyone in America has a college degree in computer programming, finances, is able to design robots, or is a doctor, etc.

In real life, efficient industries have to exist alongside inefficient industries, and the whole economy suffers from it. But it is unavoidable. In the long run, the economy will eventually shift resources to more efficient industries,  but it takes a long time, and a lot of people and companies will be against it. E.g. every year there are less shoe manufacturers in America, and eventually sometime in the future there will be none.

7 0
3 years ago
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