Brennan Manufacturing monitors the number of customer returns for each product model to attempt to track when the organization is producing a large number of defective products. This is an example of: Feedback control.
Answer:
- The amount expensed by the end of the year is $520.
- The balance in the supplies account at the end of the year, after the adjusting entries have been prepared and posted is $2,000.
Explanation:
To calculate the amount of supplies that was expensed, we simply deduct the closing balance of $2,000 from the opening balance of $2,520, as follows: $2,520 - $2,000 = $520. So, the amount of $520 was expensed during the year and the appropriate entries recorded will be:
Debit Supplies expense $520
Credit Supplies $520
<em>(To record the amount of supplies expensed)</em>
Answer:
Yes, this could be considered insider trading.
Explanation:
Insider trading refers to activities carried out in order to benefit from confidential information about publicly traded corporations. Generally speaking, those activities involve buying or selling stocks before some important information is known by the public.
In this case, Donna as corporate director knew that the financial statements would disappoint and therefore the stock price would fall. So she decided to sell her stocks before the public knew about the lower profits, or lower sales, etc.. Then after the stock price fell, she decided to purchase stocks again at a much lower price.
Answer:
You disclose the information to the potential buyer and inform the seller of your action. You are risking the sale of the property
Explanation:
The reason is that not disclosing the matter would be fraudulent action, because if I didn't disclosed the issue to the buyer then I had datched the person by not disclosing the matter which has potential for altering the decision making of the buyer. So the right course of action would be disclosing the matter to the buyer and seller and encouraging ethical relationship.
