If it’s free then I don’t think they need to determine the price bc it’s free
Answer:
Option B
Explanation:
The un-amortized debt discount can be defined as the difference between both the interest of a bond — the value of the bond at redemption — and the profits from the issuing company's sale of the bond, less than the amount currently amortised on the statement of profit and loss.
The authorizing agency may either agree to pay the full amount of the rebate or view the discount as a profit to be amortized. Some amount which has yet to be spent is alluded to as the reduction for un-amortized bonds.
Answer:
The opportunity to grow under a famous brand and enjoy the advantages of a larger group of business owners
Explanation:
Opening a franchise is often considered a lower risk for an entrepreneur than setting up a new business because of "The opportunity to grow under a famous brand and enjoy the advantages of a larger group of business owners."
Other benefits to derived include:
1. There is operational support from the franchisor during the lifetime of the business arrangement, which may cover finances, training, accounting, etc.
2. The franchisee's management abilities can be enhanced without extra cost
3. Transactions established on proven and famous brands.
Answer and Explanation:
The journal entries are shown below:
On Aug. 1
Merchandise Inventory $75,000
To Accounts Payable $75,000
(Being the purchase of merchandise inventory is recorded)
For recording this we debited the merchandise inventory as it increased the assets and credited the account payable as it also increased the liabilities
On Sept. 1
Accounts Payable $75,000
To Notes Payable $75,000
(Being the issued of note payable on the account is recorded)
For recording this we debited the account payable as it decreased the liabilities and credited the note payable as it increased the liabilities
On Nov. 30
Notes Payable $75,000
Interest Expense $1,125 ($75,000 × 6% × 90 days ÷ 360 days)
To Cash $76,125
(Being cash paid is recorded)
For recording this we debited the note payable and interest expense as it decreased the liabilities and increased the expense and credited the cash as it decreased the assets
Full question:
Management implements internal controls to ensure that all required footnote disclosures are accurate. Auditors tests those controls to provide evidence supporting the ________ presentation.
A) completeness and valuation
B) completeness and accuracy
C) rights and obligations and existence
D) occurrence and accuracy
<u>Answer:</u>
Auditors tests those controls to provide evidence supporting the completeness and accuracy presentation.
<u>Explanation:</u>
During the interim audit, the internal control system is documented and assessed. The completeness and accuracy of the erudition in the report superimposed which the auditor is relying on. Accuracy simply is inadequate. One requires to obtain certitude about both the completeness and the accuracy.
The statement that all the transactions that should hold been recorded are recorded is named completeness. A transaction is deemed accurate if: There is no fault while developing the supporting document, and there is no failure while posting this transaction.
