Answer: Option D
Explanation: In simple words, accrual basis refers to the method of accounting in which the expenses are recorded when they are incurred and revenues are recorded when they are earned.
Under this method, accountant does not take into consideration whether the cash has been exchanged or not. This is widely followed as it represents the position of an organisation more effectively.
D. The response protocols and structures described in the National Response Framework align with the NIMS, and all NIMS components support response. This looks like the best option as the two are interelated.
Answer:
a. $495.60
Explanation:
It is asking for the amount of FUTA
The FUTA rate is 6% but Niemann is paying their State taxes so it get's a discount for 5.4%
<em>His FUTA rate is then 0.6%</em>
82,600 x 0.06 = 495.6
Answer:
False.
Explanation:
Liquidity ratios are used by creditors to determine the ability of a company or debtor to pay off current short-term debt without any external help. They are thus, of great importance to creditors to show them the debtor's ability.
Answer:
$439,610
Explanation:
Preparation for the current assets section of the balance sheet
Current assets
Cash $32,000
Accounts Receivable$111,900
Allowance for Doubtful Accounts($9,080)$102,820
($111,900-$9,080)
Inventory $295,000
Prepaid Insurance $9,790
Total current assets $439,610
($32,000+$102,820+$295,000+$9,790)
Therefore the current assets section of the balance sheet is $439,610
