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3 years ago

Besides the shift of jobs to foreign countries, outsourcing has other drawbacks such as ______

1 answer:

6 0

Besides the shift of jobs to foreign countries, outsourcing has other drawbacks such as safety and quality problem, loss of managerial control, thread to confidentiality, and hidden cost. An outsourcing system means that a company will use labors or employees from a different entity by paying a specific amount of cost<span>. Both of the company and the outsourcing agency bind by an agreement. Thus, this system has several drawbacks.</span>

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During the year a donor pledged $1,000,000 in funds to a not-for-profit private charter school. The school will receive the pled

KonstantinChe [14]

Answer:

D) It would not be recorded.

Explanation:

FASB means Financial Accounting Standards Board.

Financial Accounting Standards Board is a private, non-profit organization standard-setting body whose primary purpose is to establish and improve Generally Accepted Accounting Principles (GAAP) within the United States in the public's interest. The Securities and Exchange Commission (SEC) designated the FASB as the organization responsible for setting accounting standards for public companies in the US.

No matter what kind of restriction a donor might impose, FASB standards require nonprofits to report finances in a way that makes it clear which funds have donor restrictions and which funds come without donor restrictions. FASB standards are in three categories: “unrestricted,” “temporarily restricted,” and “permanently restricted.”

Unrestricted are those items that have no donor-imposed restrictions

Temporarily Restricted are those items that were received with a donor-imposed restriction that will be satisfied in the future (generally within one year)

Permanently restricted assets are funds of a nonprofit organization that must be used in designated ways and whose principal cannot be touched.

Since the school will recieve the pledge ONLY if it is able to raise $500,000 in funds over the next year, then the pledge would not be recorded

3 0

3 years ago

Ultimately your business offers a

Readme [11.4K]

Usually a product or a service to the surrounding community or communities

5 0

4 years ago

For both unearned revenues and prepaid expenses, the cash payment occurs __________ the adjusting entry to record the earning of

alex41 [277]

Answer:

The correct answer that fills the gap is <em>d. before.</em>

Explanation:

Everything that happens in the business must be registered in the accounting system, so that the newspaper and the major contain a complete history of all the commercial operations of the period. If an operation or transaction has not been registered, account balances will not show the correct figure at the end of the accounting period.

The seats with which the accounts are adjusted or updated are called adjustment seats. If the adjustment does not affect an income or expense account, it is not an adjustment entry.

The income can be earned (accrued) before the cash is received from the client, or from accounting for the transaction in the accounting records. These are revenues that have been earned but the corresponding cash has not yet been collected.

The adjustments made to the income accounts are necessary to ensure that all income earned in the period has been recorded in the accounting. In order for the net profit to be expressed correctly in the income statement. There are two types of income adjustment:

Cumulative income not collected.
Customer advances.

5 0

3 years ago

You have been engaged to review the financial statements of Sage Corporation. In the course of your examination, you conclude th

Triss [41]

Answer and Explanation:

The Journal entry is shown below:-

1. Salaries & Wages Expenses Dr, $3,540

To Salaries & Wages Payable $3,540

(Being salaries and expenses is recorded)

2. Salaries & Wages Expenses Dr, $28,800

To Salaries & Wages Payable $28,800

(Being salaries and expenses is recorded)

3. Prepaid Insurance Dr, $2,250

To Insurance Expense $2,250

($2,700 × 10 months ÷ 12)

(Being prepaid insurance is recorded)

4. Sales Revenue Dr, $109,080

($1,927,080 × 6 ÷ (100 + 6))

To Sales Tax Payable $109,080

(Being Sales revenue is recorded)

5. Sales Tax Payable Dr, $93,780

To Sales Tax Expense $93,780

(Being sales tax expenses is recorded)

5 0

3 years ago

What is the discount yield, bond equivalent yield, and effective annual return on a $3 million commercial paper issue that curre

aleksklad [387]

Answer:

(a) 6.206%

(b) 6.54%

Explanation:

Given that,

Commercial paper value = $3 million

Currently selling at 97.50 percent of its face value.

Days from maturity = 145

(a) Discount yield:

= $\frac{(Face\ value - Current\ price)}{Face\ value}\times\frac{360}{Days\ in\ maturity}$

= $\frac{(100 - 97.50)}{100}\times\frac{360}{145}$

= 0.025 × 2.4827

= 0.06206 or 6.206%

(b) Bond equivalent yield:

= $\frac{(Face\ value - Current\ price)}{Current\ price}\times\frac{365}{Days\ in\ maturity}$

= $\frac{(100 - 97.50)}{97.50}\times\frac{365}{145}$

= 0.026 × 2.52

= 0.0654 or 6.54%

Future value = Present value × $(1+r)^{n}$

$100 = $97.50 × $(1+r)^{\frac{145}{365}}$

$(\frac{100}{97.50})^{\frac{365}{145}} = 1+r$

1.0658 = 1 + r

0.0658 or 6.58% = r

6 0

3 years ago