Answer:
b)
Explanation:
Based on the scenario being described within the question it can be said that the most efficient fix for this error would be to use Find and Replace. This is a feature that allows you to type the error that you made, and the console will find every instance of that error throughout the entire document and change each iteration to whatever you want.
Answer:
The retained earnings of Amos company for the year ended 31st December 2017 is $1,016,400.00
Explanation:
In calculating retained earnings for 2017, I began with prior year retained earnings of $866,000,deducted depreciation net of taxes not recorded previously.
After,having adjusted retained earnings for prior year, I added net income for the year 2017 of $216,000
Finally,I deducted dividends paid during 2017 of $25000 to arrive at closing retained earnings for 2017 as shown in the attached.
Answer:
The multiple choices are:
a.$15,000,000
b. $14,000,
c. $13,750,000
d. $0
The correct option is D,$0
Explanation:
The city by all standards should have adopted a modified accrual basis of accounting where amounts owed in terms of principal and interest payments are not recorded in the necessary books of accounts until they become due.
As at 30,2020,the amount due in respect of the loan has been recorded and paid off,hence as at 31st December,2020,no amount is due in respect of the general obligation bonds issued,hence no recording would be effected until next obligation date when the amount to be paid is due
Answer:
(a) 8 times
(b) 45.6 days
Explanation:
Given that,
Cost of goods sold = $500,000
Average inventory = $62,500
Assume 365 days a year.
(a) Inventory turnover ratio:
= Cost of goods sold ÷ Average inventory
= $500,000 ÷ $62,500
= 8 times
(b) Number of days' sales in inventory days:
= 365 days ÷ Inventory turnover ratio
= 365 days ÷ 8
= 45.6 days
Answer:
19.07%
Explanation:
The computation of the total compound return over the 3 years is shown below:
= (1 + investment percentage earned in first year) × (1 + investment percentage earned in second year) × (1 + investment percentage loss in second year)
= (1 + 0.35) × (1 + 0.40) × (1 - 0.37)
= 1.35 × 1.40 × 0.63
= 1.1907
= 19.07%
