Answer:
directors are the trustees of the company's money and property, and also act as agents in the transaction which they enter into on behalf of the company. Directors are liable as trustees for breach of trust, if they misapplied the funds or committed breach of byelaws of the company.
An auditor is an authorised personnel that reviews and verifies the accuracy of financial records and ensures that companies comply with tax norms. They primarily objective is to protect businesses from fraud, highlight any discrepancies in accounting methods, among other things.
Answer:
0.75 times
Explanation:
The computation of the acid test ratio is shown below:
Quick ratio = Quick assets ÷ total current liabilities
where,
Quick assets = Account receivable + cash balance
= $30,000 + $15,000
= $45,000
And, the current liabilities is $60,000
Now put these values to the above formula
So, the value would equal to
= $45,000 ÷ $60,000
= 0.75 times
Answer:
Face value of bond = 100
Years of maturity = 4
Market value = 106
Coupon frequency = 2
Semi annual coupon = 12
1. Current yield = Semi-annual * Coupon frequency / Market value
Current yield = 12 * 2 / 106
Current yield = 0.2264150943396226
Current yield = 22.64%
2. YTM = 2*Rate(Years of maturity*Coupon frequency, Semi annual, - market value, FV, 0)
YTM = 2*Rate(4, 2, 12, -106, 100,0)
YTM = 0.2168
YTM = 21.68%
3. Capital yield = Current yield - YTM
Capital yield = 21.68% - 22.64%
Capital yield = -0.96%
Answer:
a. HORIZONTAL METHOD
INCOME STATEMENT
date Income $ - Expenses $ = net income
1 Nov - - - - -
b. adjusting
31 each rent 5,300 - - 5,300
month
c. BALANCE SHEET AS AT 31 DEC
Assets = Equity + Liabilities
+ bank $84,800 - prepaid expense +$84,800
Explanation:
on 1 Nov there is no entry for the amount in the income statement because it is not yet earned only the balance sheet is affected + bank $31800 and + income received in advance ( liability) $31800
each month's rent = $31800/ 6month =$5300
18 months rent = 95400
unearned at december = 18 months - 2 months earned
= 95400- 10600
=$84,800
Answer:a. Willing suspension of disbelief
Explanation:
What does this phrase mean?
It occurs when we accept event as believable so that we can enjoy the the story line.
This occurs when we watch drama or read a story on the book evethough we know that these are just characters and non of this is true but still in order for us to enjoy the story to the fullest we willingly accept these characters as real in order to have a true feeling towards the story and it's message.
It like when we watch a sad movie and we find ourselves crying because we have accepted the characters to be true in order to fully enjoy the story.