Answer:
Date Accounts Titles and Explanations Debit Credit
Sept, 11 Cash $450
2016 Sales $450
(To record the Cash Sales)
Sept, 11 Warranty Expenses $40.50
2016 ($450 x 9%)
Estimated Warranty Payable $40.50
(To record the Warranty Expenses)
July, 24 Estimated Warranty Payable $32
2017 Repairs Parts Inventory $32
(To record the material taken from Inventory)
Answer:
B) Single agency.
Explanation:
In real estate, a single agency relationship means that the broker can only represent one of the parties involved in the transaction, either the buyer or the seller, but he/she cannot represent both parties. Most broker-client relationships are single agencies, since that way the broker should pursuit his/her client's best interest.
In a dual agency relationship, the broker represents both he seller and the buyer.
Typical farm vehicles go slower and are expensive so you must drive slowly to make sure you don't run into it as Well as be polite
Answer:
The answer is -$4,940
Explanation:
Net income = Profit before interest and tax minus interest minus taxes
We rewrite the formula to get interest:
Interest = Profit before interest and tax minus taxes minus net income
= $27,130 - $5,450 - $16,220
=$5,460
Cash flow to creditor equals:
Amount repaid to suppliers minus new amount borrowed plus interest
$31,600 - $42,000 + $5,460
-$4,940
Answer:
An error is unintentional, whereas fraud is intentional.
Explanation:
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP).
An auditor refers to an authorized individual who review, examine and verify the authenticity and accuracy of business financial records or transactions.
Thus, an audit of historical financial statements most commonly includes the balance sheet, income statement, statement of cash flows, and the statement of changes in stockholders' equity.
Hence, the statement which is the most correct regarding errors and fraud is that, an error is an unintentional that can happen to any financial expert, whereas fraud is intentional.
