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2 years ago

Identify the detective control below.

Business

1 answer:

Darina [25.2K]2 years ago

7 0

Answer:

Reconciling the bank statement to the cash control account.

Explanation:

The reason is that the detective approach is the one which helps in identification of the errors in recording the facts and figure in a control system is the detective control. In this case, bank reconciliation helps in accessing the errors and entries that are not recorded in the books of accounts hence it is a detective control.

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If interest rates are declining, which of the following would be expected? (A) Discount bonds will appreciate more than premium

KengaRu [80]

Answer:

option A

Explanation:

The correct answer is option A.

When interest rates are declining , prices of the bond rise, but in this case the discount bonds will appreciate more than the premium bonds.

When interest rates fall it becomes very easier to borrow money and causing many companies to issue new bonds so that they can invest in new ventures.

A premium bond is a bond trading above its face value.

A bond issued at a discount has its market price below the face value.

5 0

3 years ago

Elkland Heating & Cooling installs and services commercial heating and cooling systems. Elkland uses job costing to calculat

andrey2020 [161]

Answer:

Estimated manufacturing overhead rate= $15 per direct labor hour

Explanation:

Giving the following information:

Overhead is allocated to each job based on the number of direct labor hours spent on that job.

The estimated overhead= $61,500.

Estimated direct labor hours= 4,100

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 61,500/4,100= $15 per direct tlabor hour

6 0

3 years ago

On January 1, 2021, White Water issues $570,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each

monitta

Answer:

White Water

1. Schedule

Date Cash Paid Interest Expense Increase in Carrying value FV

01/01/2021 0 $570,000.00

12/31/2021 $39,900.0 $39,900.00 0 $570,000.00

12/31/2022 $39,900.0 $39,900.00 0 $570,000.00

2. January 1, 2021:

Debit Cash $570,000

Credit 7% Bonds Payable $570,000

To record the issue of bonds for cash.

December 31, 2021:

Debit Interest Expense $39,900

Credit Cash $39,900

To record the first interest payment.

December 31, 2022:

Debit Interest Expense $39,900

Credit Cash $39,900

To record the second interest payment.

Explanation:

a) Data and Calculations:

Face value of 7% bonds = $570,000

Proceeds from the bond issue = $570,000

No premiums, no discounts on bonds.

Coupon interest rate = 7%

Market interest rate = 7%

6 0

2 years ago

Customer World expects the credit card company to deposit funds in their business account for their sales where a customer uses

Murljashka [212]

Answer:

$88.75

Explanation:

Customer World expects the credit card company to deposit funds in their business account for their sales where a customer uses a credit card to pay. If Customer World earned $90 from a sale and the transaction fee was $1.25, the Customer World should expect $88.75 to be deposited into his business bank account by the credit card company.

I hope the answer is helpful.

Thanks for helping.

3 0

3 years ago

Rappaport Corp.'s sales last year were $385,000, and its net income after taxes was $23,000. What was its profit margin on sales

Marianna [84]

Answer:

5.97%

Explanation:

Profit margin is an example of profitability ratio

profitability ratio measures the ability of a firm to generate profit from its assets

Profit margin = net income / sales

= $23,000. / $385,000,

5 0

3 years ago