1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
MatroZZZ [7]
3 years ago
6

Required information Subsequent Events-Two Types Read the overview below and complete the activities that follow Oftentimes a CP

A's opinion on the fairness of the financial statements may be changed by subsequent events. Subsequent events are events that happen after the balance sheet date but before the financial statements are issued. Auditors have responsibility for evidence not available at the close of the period but which becomes available before the auditors finish their fieldwork and issue their opinion. Subsequent events are divided into two categories: Type 1 are those providing additional evidence about facts existing on or before the balance sheet date and Type 2 are those involving facts coming into existence after the balance sheet date. CONCEPT REVIEW: Accounting standards divide subsequent events into two categories--those that provide more information about facts that already existed at the balance sheet date (Type 1 and those that involve facts after the balance sheet date (Type 2). Match each definition or example with the correct type of subsequent event. During the audit, a customer with a large A/R balance at year-end declares bankruptcy A lawsuit that was in progress as of year-end was settled shortly thereafter Type 1 Type 2 A flood damages a significant portion of the operating facility after year-end. Conditions that have come into existence after the balance sheet date Additional evidence about conditions that existed at the balance sheet date. Reset
Business
1 answer:
Drupady [299]3 years ago
7 0

Answer:

Explanation:

Situation                                                            Type Logic

During the audit, a customer with a large A/R balance at year end declares bankruptcy Type 1 Facts were available on balance sheet date

a lawsuit…...thereafter Type 1 Facts were available on balance sheet date

A flood damages….after year end Type 2 Facts were not available on balance sheet date

Conditions that….after the balance sheet date Type 2 Facts were not available on balance sheet date

Additional evidence….balance sheet date Type 1 Facts were available on balance sheet date

You might be interested in
Ben cartwright runs the wild west wax museum in carson city, nevada. the museum has been in business for 40 years and is a major
lawyer [7]

<u>Solution and Explanation:</u>

The implicit cost of capital

Implicit cost of capital is the opportunity cost of capital which is already incurred but not reported as a separate cost/expense, Implicit cost is the cost which results from using an existing asset instead of selling or renting it.

For example when a businessman uses his/her existing land which has implicit cost of say $1000 per month but bought it for say $100 many years ago, so $1000 is its implicit cost/current market rent per month which is equal to its oppo

5 0
3 years ago
Masterson Company's budgeted production calls for 68,000 units in April and 64,000 units in May of a key raw material that costs
Finger [1]

Answer:

The budgeted materials needed in units for April = 67000 litres

Explanation:

The budgeted  production for April = 68000 units

The budgeted  production for may = 64000 units

The cost of raw material per unit = $1.70 per unit

It is given that at the end of each month the inventory should be = 25%

The April 1 inventory = 17000 units

Now calculate the material required for April production:= [ Materials needed + ending inventory requirements - beginning inventory available ]= [ 68000 + (64000 × 25%) – 17000 ] = 67000 Litres

Therefore, the budgeted materials needed in units for April = 67000 litres

7 0
3 years ago
In a wholly owned or closely held corporation, there really is little distinction between the functions of a board of directors
umka21 [38]

It is true that there is little distinction between the functions of a board of directors and those of a board of advisers in a wholly owned or closely held corporation.

<h3>What is a board of directors and board of advisors? </h3>

A board of directors refers to the elected group of individuals that represent shareholders while the board of advisors refers to the group of individuals who are appointed to provide counsel businesses.

In conclusion, it is true that there is little distinction between the functions of a board of directors and those of a board of advisers in a wholly owned or closely held corporation.

Read more about board

<em>brainly.com/question/4771644</em>

8 0
2 years ago
Question 7
elena-14-01-66 [18.8K]

Today's share price for CCN is $16.67

Today's share price for CCN can be determined using the Gordon constant dividend growth model

The Gordon growth model is used to determine the value of the share of a firm using the value of its dividend with the assumption that the firm grows at a constant rate.

The formula of the Gordon constant dividend growth model :  

price = d1 / (r - g)

d1 = next dividend to be paid = $0.50

r = cost of equity = 12%

g = growth rate = 9%

0.50 / (12% - 9%)

0.50 / 3%

0.50 / 0.03

= $16.67

A similar question was answered here: brainly.com/question/15023105?referrer=searchResults

6 0
2 years ago
Which of the following is true for a stock whose returns are more variable than the market's returns? a. The stock's beta will b
sdas [7]

Answer:

c. The stock's beta will be greater than one.

Explanation:

In order to understand the right answer here, we need to understand what Beta is and what does it represent.

Well, Beta tells about the responsiveness of any stock in comparison with the stock market index. For example, if the index move 100 points positive and the stock price moves $120 positive, this means that the stock is very responsive and has a high beta of more than 1. For stocks that are less response to stock market, their beta is less than 1, while for stocks who move the exact same direction as per the stock market, their beta is said to be equal to 1.

Here, in this question, since the stock return is more variable than the market return, it clearly tells that the Beta of that stock will be greater than one.

Hope this helps, Good Luck.

8 0
3 years ago
Other questions:
  • Becoming informed about economics helps a person understand the
    15·2 answers
  • Most likely, Staples's lower color print price point is aimed at ______.
    13·1 answer
  • If the cpi is 200 in year 1980 and 300 today, then $600 in 1980 is equivalent to ______ today.
    8·1 answer
  • Devon and edmond enter into a contract for the closing of a sale of devon's recording studio. when edmond's schedule conflicts,
    15·1 answer
  • There are four main categories of strategies that managers may define to create and sustain a competitive advantage. Which of th
    10·1 answer
  • Veronica Gilbert is an accountant for a surf shop that is expanding their retail store locations. Her supervisor has assigned he
    9·1 answer
  • When you gave your friend a fifty-dollar bill for an iPod, you used money as a
    13·1 answer
  • Safefen, a safety assurance and standards association in the country of Eilenst, made it mandatory for all the toy manufacturers
    15·1 answer
  • Karen Moore is a new employee with Cars R Us. One of her first responsibilities as the new HR Director is to create an incentive
    9·1 answer
  • A homeowner desires to sell his or her home and signs an exclusive-listing agreement, requiring payment of a six percent commiss
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!