Answer: The Sarbanes-Oxley Act increases the penalties for corporate wrongdoing. (A)
Explanation:
The Sarbanes-Oxley Act was passed to reduce corporate fraud. The Act led to the creation of the Public Company Accounting Oversight Board which was in charge of overseeing the accounting industry. Protection was given to whistleblowers and giving company loans to executives was banned. Chief executive officers were also held responsible for errors made in accounting audits.
The Sarbanes-Oxley Act was as a result of financial scandals involving publicly traded firms such as WorldCom, Tyco International Plc and Enron Corporation in 2000. The frauds in the companies affected the confidence of investors which eventually led to the Act.
Answer:
The correct answer for option (a) is 7.82% and for option (b) is 8.13%.
Explanation:
According to the scenario, the given data are as follows:
Amount borrowed (PV)= 75% × $3,000,000= $2,250,000
Monthly payment = $17,100
Time period Nper = 25 × 12 = 300
FV = 0
(a). So by using financial calculator, we have
Monthly APR = 0.6517%
APR annually = 0.6517% × 12 = 7.8204%
(b). We can calculate the EAR by using following formula:
EAR = (1 + k ÷ n)^n - 1
Where, K = 7.82%
N = 300
By putting the following value, we get
= ( 1 + 0.0782 ÷ 300)^300 -1
= 0.0813 or 8.13%
<span>a. good personal hygiene is your Answer.</span>
Answer:
8983
Explanation:
Total Premium (934609-850000) 84609
Divide: Periods total 12
Premium amortized each period 7050.75
Interest expense for Nov21 (Two months)
Cash Interest payable (850000*8%*2/12) 11333.33
Less: Premium amortized (7050.75*2/6) 2350.25
Interest expense for year ending 30.11.21 8983.08
Total Premium (934609-850000) 84609
Divide: Periods total 12
Premium amortized each period 7050.75
Interest expense for Nov21 (Two months)
Cash Interest payable (850000*8%*2/12) 11333.33
Less: Premium amortized (7050.75*2/6) 2350.25
Interest expense for year ending 30.11.21 8983.08
Answer is $8983
Answer:
assets, liabilities, common stock, retained earnings, dividends, revenues, and expenses
Explanation:
General Ledger accounts are prepared to sort and summarize various accounts.
The order followed while presenting general ledger accounts has balance sheet items i.e assets and liabilities presented first followed with income statement items.
Assets and liabilities come first. Assets refer to items of value or something that yields future benefits. Liabilities refer to obligations which are owed and need to be discharged in future.
Retained earnings refer to retained profits which are pumped back into the business.
Revenues and expenses are costs or incomes arising out of routine business activities.