Answer:
The answer is: A) No auditing procedures were performed after the date of the Year 1 auditor's report.
Explanation:
Since Gole is including a separate paragraph in the review report for Year 2 to describe his responsibility for the previous period's financial statement (Year 1), he should include in that paragraph the fact that he didn't perform any more audit procedures after he presented his review report for Year 1.
Answer:
1. Cash will increase by $18,700 for the services to be rendered over the 12 months.
2. Cash will reduce by $64,000 for the legal service acquired.
3. No effect on cash as the transaction is on accounts.
4. Cash will decrease by $1,250 for the supplies purchased.
5. Cash will decrease by $6,000 for the dividends paid.
6. Cash will decrease by $20,000 due to operating expenses
7. no effect on cash
8. no effect on cash.
Explanation:
The business transactions recorded by Hart, Attorney at Law, These transactions have impact on the cash. The inflow and outflow of cash is recorded in the cash flow statement. Transaction no. 3, 7 and 8 will have no effects on cash balance of the company.
Answer:
Nikki should choose a B) Sole Proprietorship
Explanation:
The least expensive form of ownership for Nikki will be a sole proprietorship. This requires the least amount of admin work and is also the least cost intensive. Establishing a partnership will reduce her cost, but will dilute her ownership and also split her income. And also doesn't give her any form of limited liability either. Under a LLC she will incur registration costs as well as an annual fee, excluding the admin process and incorporation agreements.
Thus it is recommended that she chooses the sole proprietorship option as it will be the easiest and least costly. She can simply conduct business in her own name and will be taxed in her own name. There is no need to register a LLC and incur those costs.
Answer:
Aggregate expenditure must have increased by $50 billion
Explanation:
We have given level of GDP is increased by $100 billion
Marginal prosperity MPS = 0.5
So multiplier
We have to find the aggregate expenditure change
Aggregate expenditure change is given by
So aggregate expenditure must have increased by $50 billion
Answer:
A title search is done to insure that there are no leans are owed on the property. Its to insure that the property is clean of any debt.