Which of the following is an advantage of print publication as an advertising

All of the following are examples of results of unethical business actions except:

lawyer [7]

Answer: A

Explanation:

6 0

3 years ago

Financial statements are prepared: Group of answer choices For corporations, but not for sole proprietorships or partnerships. P

telo118 [61]

Answer:

Primarily for the benefit of persons outside of the business organization.

Explanation:

Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, account payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP) and financial accounting standards board (FASB). The financial accounting standards board (FASB) is a private, non-profit organization saddled with the responsibility of establishing and maintaining standard financial accounting and reporting for general guidance of individuals such as investors, issuers and auditors.

Financial reporting can be defined as the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.

Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. Thus, it includes balance sheet, statement of retained earnings and income statement. The information that are found in a financial statement are revenues, expenses, liability, equity and assets.

Hence, the primary objective of financial accounting is to provide accounting information for external users so as to enable them have a good understanding of the financial inclination of a business firm and thus, make an informed decision whether or not to invest in the business firm.

In Accounting, the external users of a financial accounting information includes customers, creditors, investors shareholders and government regulators.

8 0

2 years ago

If you need to confiscate a PC from a suspected attacker who does not work for your organization, what legal avenue is most appr

kirill115 [55]

Answer:

The correct answer is

b) Consent agreement signed by employees.

good luck ❤

8 0

3 years ago

A customer sells short 100 shares of ABC stock at $30 as an initial transaction in a margin account. The customer must deposit:

Ber [7]

Answer:

The best answer is C.

Explanation:

Regulation T initial margin to short stock is 50% of $3,000 = $1,500. However, since this is a new account, it must meet the minimum initial margin of $2,000 needed to open an account. Therefore, $2,000 must be deposited.

4 0

3 years ago

The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $166,436. The bank statement indicated a balance

daser333 [38]

Answer:

1. Pala Medical Co. Bank Reconciliation Statement as on June 30, 20Y1

PARTICULARS $ $

Balance as per cash book 166,436

Add: Cheques issued but not yet presented 19,427

25,000 note collected by Bank 26,500

45,927

212,363

Deduct: Checks deposited but not yet collected

by the bank 12,300

Overstatement of figure by the bank 720

Returned check wrongly recorded by Pala

Medical Co. 3,600

Bank service charge 55

16,675

Balance as per bank statement as on June 30, 20Y1 195,688

2. DETAIL DR CR

$ $

Cash Account 25,000

Investment 25,000

Matured Investment ($25,000 Notes)

Cash Account 1,500

Interst Income 1,500

Being interest on $25,000 Notes received

Cash Account 400

Creditors - Skyline Supply Co. 400

Being correction of Payment to Skyline Supply Co. wronfly recorded

Creditors - Skyline Supply Co. 4,000

Cash Account 4,000

Being Payment to Skyline Supply Co.

Bank Charges 55

Cash Account 55

Bank Charges recorded captured in the bank statement

3. If a balance sheet were prepared for Pala Medical Co. on June 30, 20Y1 the amount to be reported as cask is $166,436

Explanation:

1. The balance shown by the bank statement seldom agree with the balance shown by the cash book, bank reconciliation statement is usually drawn up to agree the balance shown by the bank statement with the balance shown by the cash book.

In this question:

a. Check outstanding of $19,427 are checks issued to creditors which where not presented for payment. generally known as unpresented checks.

b. The receipts of $12,300 recorded in Pala Medical Co. cash book was not credited by the bank, this will obviously cause a disagreement between the bank statement and the cash book at month end.

c. The amount of $26,500 recorded in the bank statement must be reported correctly the the cash book and the relevant ledger by debiting the cash book by the total receipt of $26,500 and crediting investment and with $25,000 and crediting the interest elements to interest income account.

d. The wrong recording of $400 instead of $4000 must be corrected by reversing the initial entry. this is done by debiting Cash book with $400 and crediting Creditor account - Skyline Supply Co. with $400 and recording the correct entry by debiting Creditor account - Skyline Supply Co. with $4000 and crediting cash book by $4000.

e. The check of $195 is recorded correctly already in the cash book, it is the bank to pass the necessary entry but it will only enter the company cash book.

f. Bank service charge should be recorded by debiting bank charges with $55 and crediting cash book with $55

8 0

3 years ago