Answer:
Compatibility principle
Explanation:
The compatibility principle prescribes that an accounting information system has internal controls, meaning, it employs methods and procedures that allow managers to control and monitor. The compatibility principle is a concept of an information system that suggests the accounting system of any type of organization should adapt to its employees or managers, operations and business structure.
For example, if goods are sold so fast but the orders may not be processed fast enough, here we will apply compatibility principle and we will add new technology to the system to solve this issue.
Answer: $1 million
Explanation:
Permanently restricted net assets are the assets that are held by nonprofit organizations whereby the donors would have imposed some usage restrictions on such asset.
It should also b noted that permanent restrictions are also found when donors give out large sums of money to nonprofits. From the question, we are informed that local charity received a $1 million gift, the income from which was restricted to support activities for senior citizens.
Therefore, on its year-end statement of financial position, the charity would report permanently restricted net assets of $1 million.
The correct answer is
A) An increase in international shipping has led to more pollution.
Answer: See explanation
Explanation:
The journal entry will be prepared thus:
May 31:
Dr Fees earned $1,150,000
Dr Retained earnings $16,200
Cr Rent Expense $200,000
Cr Supplies expense $19,300
Cr Wages expenses $915,000
Cr Miscellaneous expense $31,900
May 31:
Dr Retained earnings $5000
Cr Dividend $5000
Answer:
$1,600,000
Explanation:
Given the following parameters:
Patent = $8,000,000
Trademark = $6,000,000
Goodwill= $9,000,000
Given that both the trademark and goodwill cannot be amortized as they were impaired or revealed.
Therefore, in this situation, only patents will be amortized over a five-year service life
Hence, the total amount of amortization expense that would appear in Burger Mania's income statement for the first year ended December 31 related to these items is = 8,000,000 divided by 5 = $1,600,000
