Answer:
The answer is "choice B".
Explanation:
Please find the numbering of the question in the attachment file.
Whenever the cash flows become substantial after the required period, managers would use their option to surpass the pay-back rule, as well as the managers, recommend that ignoring all investment returns after a period of pay-back would not be an important component in the capital-budget evaluation repayment process, that's why the choice "B" is correct.
Answer
Well, this difference can result from the outstanding checks and the electronic charges on the bank statement.
Explanation
When handling bank statements and transactions, it is common to notice that some items in the check book that are yet to reflect on the bank statement, for example <u>outstanding checks and deposits on transit</u>. These are the <u>adjustments to the balance statement.</u> Other charges such as banking service charges and statement printing charges may not appear recorded in the check book so they <u>have to be deducted from the total cash balance in the check books.</u>
Answer:
Reasonable - Yes Absolute - No
Explanation:
When conducting an audit, the auditor is responsible to perform the review and provide reasonable assurance that the financial statements are free of material misstatement.
Due to the type of audit evidence obtained and the attribute of the fraud, the auditor cannot provide absolute assurance that the financial statements are free from any material misstatement, whether due to fraud or error. The assurance provided by the auditor is reasonable and not absolute.
Answer:
Option (d) is correct.
Explanation:
Given that,
Inventory sold to Alberta, Inc. on account = $5,800
Cost of goods sold = $4,000
The journal entries are as follows:
(i) On October 1,
Accounts receivable A/c Dr. $5,800
To sales A/c $5,800
(To record the credit sale of inventory)
(ii) On October 1,
Cost of goods sold A/c Dr. $4,000
To Merchandise inventory A/c $4,000
(To record the cost of goods sold)
Answer:
Debit to Bad debt expense for $15,100
Explanation:
According to the above information, we were informed that a company's account receivable shows the estimate of uncollectible accounts totalled $14,000. While the allowance for doubtful account has the amount $1,100.
It therefore means that the adjustment to record the bad debt expense for the period will require
A debit to bad debt expense for $15,100