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2 years ago

What are the reasons for having internal controls that facilitate ethical behavior?

Business

1 answer:

givi [52]2 years ago

5 0

Answer:

Mostly Preventive Controls and feedback Controls

Explanation:

For this case is important to conduct preventive and feedback controls.

The definition of preventive control is "Controls that are used to keep a loss or an error from occurring". And is improtant to do these controls continuosly in order to ensure that the ethical behavior is accomplished by all the people analyzed.

The definition of feed back controls is "a process that owners and manager uses to evaluate if their teams meet the stated goals at the end of a production process"

And for this case these two controls are so important when we want to facilitate check ethical behavior since the conduct is something that needs to be measured in all the time in order to ensure the condition for any employee.

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3 years ago

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With a regressive tax system, as the level of income increases in an economy, the average tax rate will:  A. Increase B. Decreas

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The correct answer to the following question is option B) decrease.

Explanation:

Regressive tax is that of tax which is imposed in such manner that when the income level in the economy increases , the average tax rate would decrease. This type of tax has heavy burden on the low income people as it takes high proportion of their income. So it can be said here that there is an inverse relationship between tax payer's ability to pay ( which can be measured in income , assets or consumption) and the tax rates imposed.

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3 years ago

Progressive companies who want to attract and keep good employees are now offering their employees ________ benefits, such as on

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2 years ago

Nash Co. sells $435,000 of 12% bonds on June 1, 2020. The bonds pay interest on December 1 and June 1. The due date of the bonds

garri49 [273]

Answer:

$\left[\begin{array}{ccccccc}\\ &&$Carrying Value&$Cash&$Int. exp&$Amortization&$E.Carrying\\& 1&493574.88&26100&19743&6357&487217.88\\& 2&487217.88&26100&19488.72&6611.28&480606.6\\& 3&480606.6&26100&19224.26&6875.74&473730.86\\& 4&473730.86&26100&18949.23&7150.77&466580.09\\& 5&466580.09&26100&18663.2&7436.8&459143.29\\& 6&459143.29&26100&18365.73&7734.27&451409.02\\& 7&451409.02&26100&18056.36&8043.64&443365.38\\& 8&443365.38&26100&17734.62&8365.38&435000\\\end{array}\right]$

Journal entries:

cash 493,574.88 debit

bonds payable 435,000.00 credit

premium on bp 58,574.88 credit

--to record issuance--

Interest expense 19743

Amortization 6357

cash 26100

--to record Dec 31st, 2020--

Interest expense 19488.72

Amortization 6611.28

cash 26100

--to record June 30th, 2021--

bonds payable 130,500.00 debit

premium on bp 13,681.98 debit

interest expense 17,400.00 debit

gain on redemption 25,081.98 credit

cash 136,500.00 credit

--to record redemption--

premium on BP 4,813.04 debit

interest expense 13,456.96 debit

cash 18,270 credit

-- to record December 31st, 2021--

Explanation:

First, we solve for the proceeds from the bonds payable:

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C 26,100 (435,000 x 12% / 2)

time 8 ( 4 years x 2)

yield to maturity 0.04 ( 8% / 2)

$26100 \times \frac{1-(1+0.04)^{-8} }{0.04} = PV\\$

PV $175,724.6412

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity 435,000.00

time 8.00

rate 0.04

$\frac{435000}{(1 + 0.04)^{8} } = PV$

PV 317,850.24

PV c $175,724.6412

PV m $317,850.2392

Total $493,574.8804

We now build the amortization schedule.

We take this value, we multiply by the interest rate and then, solve for amortization and ending carrying value.

To record the redemption:

accrued interest:

435,000 x 0.12 x 4/12 (months from June to oct) = 17,400

premium:

480,606.6 - 435,000 = 45,606.6

proportional of premium:

45,606 / 435,000 x 130,500 = 13.681,98

we now solve for the gain/loss on redemption:

130,500 + 13,681.98 + 17,400 = 161.581,9 value redeem

for cash 136,500

gain on redemption 25.081,98

bonds payable 130,500.00 debit

premium on bp 13,681.98 debit

interest expense 17,400.00 debit

gain on redemption 25,081.98 credit

cash 136,500.00 credit

Now, we solve for Dec 31st, 2021 entry.

bonds payable: 435,000 - 130,500 = 304,500

premium: 45,606 - 13,681.98 = 31.924,02

interest expense:

(304,500 + 31,924.02) x 0.04 = 13,456.96

cash outlay:

304,500 x 0.06 = 18,270

amortization 18,270 - 13,456.96 = 4,813.04

6 0

3 years ago

Our play ___ has days of sales tied up in receivables, which is much ___ than the industry average. it takes our play

MrMuchimi

The answer to this question is 14.24 ; higher
Currently, the industry standard for this kinda thing is 9.0. This indicated that most of the sales that the play made during the period mostly paid in the form of debt. (usually caused by customers buying the ticket of the play by using their credit cards)

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2 years ago