Answer:
c) Beth Teal pays $15,000 a year to her gardener, Ben. Beth is Ben's grandmother.
Explanation:
A related party transaction is any business transaction that takes place between entities that share some type of common interest, e.g. a parent company leasing a factory to one of its subsidiaries. They are legal, but the potential for conflicts of interest exist. Following the example, if the lease price is higher than fair market price, then the transaction could be considered fraudulent. The SEC requires that publicly traded corporations disclose all related party transactions.
Answer:
See below
Explanation:
Recording the entire cost as expense would have understated retained earnings by $2,650,000
Annual depreciation on machine = ( Purchase cost - Residual value ) / Useful life
= ($2,650,000 - $165,000) / 9
= $2,485,000 / 9
= $276,111.11
Depreciation would have been recorded for $552,222 for 2 years had the machinery been corrected recorded I.e $276,111 × 2 = $552,222
Therefore , the cumulative effect of this error on the income statement of Sheridan for the year ended, 31 December 2021 would have shown
= $2,650,000 - $552,222
= $2,097,779
The answer is C
<span>Getting information from reliable sources</span>
Initiating, Planning, Executing, Monitoring and Controlling, and Closing are the five groups of the project management process.<span>
Activities performed that relate to each knowledge area are part of the planning group from the project management process. </span><span> Planning involves calculating the budget and schedule for the project, and determines what resources are needed.</span>
He refused to help enslaved people escape
