Answer:
The Multi-step income statement is attached, Please find it
Explanation:
The multi-step income statement is attached with this answer please find it.
Gain On Disposal will appear in the other income section of the multi-step income statement
Cost of goods sold will appear in the cost of goods sold section of the multi-step income statement
Depreciation expense will appear in the operating expense section of the multi-step income statement
Sales returns and allowances will appear in the sales / net sales section of the multi-step income statement
Answer: the correct answer is a disclosure of $20,000
Explanation:
The annual preferred stock dividend is $15,000 = 3,000 x $100 x 5%. Total dividends in arrears at the end of 20X3 are therefore $20,000 = 2 years x $15,000 - $10,000 paid.
Dividends in arrears are footnoted only. They are not recognized as a liability until they are declared.
Answer:
Misstatement is referred to as errors in the presentation of financial information that could lead to wrong decision by the users
Explanation:
Occurrence : Issuing of dummy invoices for sales that did not occur
Completeness: Sales invoice were not fully recorded due to omission or misplacement
Authorization: Sales are not approved by the responsible manager. No authorized signature
Accuracy : Casting of sales figure on the register is not correct.
Cutoff : Sales are not recorded in the proper accounting period. January sales being recorded in the previous year account.
Classification : Grants being wrongly recorded as revenue
Presentation : Exaggerated revenue.
Answer:
True
Explanation:
It is essential to know and ensure that the taxpayer lists all the sources of income before the Form 13614-C is being submitted. This is necessary for the calculation of the tax to be paid by the person. The taxpayer should also fill the Form 1099-INT and declare all other sources of income. The statement above is true.
about $103 billion. is the answer
