<span>The AICPA’s Statements on Auditing Standards is a guideline for auditors. This guideline shows what the minimal standards are in order for an auditor to perform their work correctly. These guidelines need to be followed in order to ensure accuracy and efficiency.</span>
Answer:
b. increase as the demand for high tech skills increases.
Explanation:
Due to the fact that the demand for technological products is increasing, the demand for people who possess high tech skills would also increase as firms would want to provide more tech products to satisfy the demand of consumers.
This would lead to an increase the demand for people with high tech skills. When demand exceeds supply, wages would rise.
I hope my answer helps you
Answer:
2000LTC
Explanation:
From the given data, the distribution which is $8000 will be subtracted from $10000 which is David's stock basis and this will remain l $2000
That is to say
($10000-$8000) = $2000 As the
stock basis.
Answer and Explanation:
a. The Journal entry is shown below:-
Lawsuit loss Dr, $900,000
To Lawsuit liability $900,000
(Being lawsuit loss is recorded)
Here we debited the lawsuit loss as it increased the losses and we credited the lawsuit liability as it also increased the liabilities because the losses contains normal debit balance and the liability contains normal credit balance
b. No Journal entry is required as The loss is not accrued as it is not expected that a liability has been spent at Dec 31, 2020
Answer:
$27,500
Explanation:
As mention in the question the company selling the 2000 seats
also the manufacturing cost is =$40
Direct labor cost =$15
As the seat company A =500 seats
So the Direct Material Cost= seat company A allotment *manufacturing cost
=500*40
=$20,000
Also the Direct labor cost =seat company A allotment *direct labor cost
=$500*$15
=$7500
Therefore the total relevant cost of the firm is
=Direct Material cost +Direct labor cost
=$20,000+$7500
=$27,500
