What is the present value of a 3 year annuity of $260 if the discount rate is 5%

In reviewing the accounting records of the transportation services fund, an internal service fund of douglas city, you notice th

zubka84 [21]

The reason why the fund uses the budgetary accounts because it is most likely needed that the funding budget to be approved legally by the city council in order for the budget funds to be used by the members or people responsible of handling the budgets.

5 0

4 years ago

Exercise 2-6 Analyzing account entries and balances LO A1 Use the information in each of the following separate cases to calcula

VARVARA [1.3K]

Answer:

a) Corentine Co.

Cash paid to suppliers:

Beginning balance, September 30 $152,000

Purchases $281,000

Ending balance, October 31 $132,500

Cash paid $300,500

b) Valerian Co.

Sales to customers on account:

Ending balance, October 31 $89,000

Cash collected $102,890

Beginning balance, September 30 $102,500

Sales $89,390

c) Alameda Company

Cash balance on September 30:

Cash disbursements $103,150

Balance, October 31 $18,600

Cash receipts $102,500

Balance, Sept. 30 $19,200

Explanation:

The unknown amount for each case is the difference between the opening balance, the transactions for the month of October and closing balance.

5 0

3 years ago

China, India, Eastern Europe, and other developing countries have been sourcing hot spots. Explain why and also discuss any prob

Oksana_A [137]

Answer: The problem in outsourcing from low-cost country:

It is seeking goods and services beyond the border of a region. It is a process where organizations look for the most cost-effective place globally to manufacture their goods. Most organizations choose a global sourcing strategy as the cost is using lower abroad.

Explanation:

Outsourcing from low-cost countries a move by the company to cut costs as they have a huge presence of labor. It will allow them to concentrate on their core activities. But, there are some problems outsourcing from low-cost countries. Some are :

1. Sometimes the outsourcing does not provide the expected cost savings.

There might be new conflict and problem arising from different sources

2. There might be legal barriers present between the two different nations involved in outsourcing.

7 0

3 years ago

In the united states, 54% of all garbage is categorized as ___________ waste.

kogti [31]

Answer:

agricultural and industrial

6 0

3 years ago

Presented below are four statements which you are to identify as true or false.

vagabundo [1.1K]

Answer:

1. True.

2. False.

3. True.

4. False.

Explanation:

GAAP is an acronym for Generally Accepted Accounting Principles. It comprises of the accounting standard, procedures and principles used by public institutions in the United States of America. The GAAP is issued by the Financial Accounting Standards Board (FASB) and adopted by the U.S. Securities and Exchange Commission (SEC).

GAAP includes each of the following pronouncements:

Statements of Financial Accounting Standards.

Accounting Research Bulletins.

Accounting Principles Board Opinions.

For external reporting purposes, US Generally Accepted Accounting Principles (GAAP) allows companies to use only the traditional format of the income statement.

When accountants prepare and compile financial statements for public firms, it must be in line with United States of America, Generally Accepted Accounting Principles (GAAP).

Also, 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.

Additionally, Securities and Exchange Commission (SEC) reviews registration statements of bond issuers, investment advisers etc, to ensure they comply with current laws and regulations.

1. True: GAAP is the term used to indicate the whole body of FASB authoritative literature.

2. False: Any company claiming compliance with GAAP must comply with most standards and interpretations but does not have to follow the disclosure requirements. All companies are required to follow the disclosure requirements at all times.

3. True: The primary governmental body that has influence over the FASB is the SEC.

4. False: The FASB has a government mandate and therefore does not have to follow due process in issuing a standard. FASB has to follow due process all the time in issuing standards.

6 0

3 years ago