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Helga [31]
3 years ago
7

During February, $75,150 was paid to creditors on account, and purchases on account were $96,190. Assuming the February 28 balan

ce of Accounts Payable was $32,310, determine the account balance on February 1.
Business
1 answer:
lidiya [134]3 years ago
5 0

Answer:

$45,000

Explanation:

Given the above information, the account balance on February 1 is computed below;

Balance of account payable Feb 28 + Cash paid to creditors in February - Purchases on account

= $59,900 + $186,500 - $201,400

= $45,000

Therefore, the account balance on February 1 is $45,000

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lubasha [3.4K]

Answer:

master budget is based on one specific level of production and a flexible budget can be prepared for any production level within a relevant range.

Explanation:

A master budget is a budget that contains an aggregation of smaller level budgets into an overall single budget

A flexible budget is a budget that can be  adjusted based on the activity levels of a firm.

7 0
3 years ago
___ involves defining and documenting the features and functions of the products produced during the project as well as the proc
stepan [7]

The answer to the above question is - Collecting Requirements.

Collecting requirements helps in clearly defining and providing information on the features and the function of the products products and the processes used for manufacturing or creating them.

3 0
3 years ago
the current price of a stock is 200 if a coll option on this stock has a strike price of 201 the call is
PSYCHO15rus [73]

The call in this scenario is known as Out of the money (OTM).

Out of the money is when an option has no intrinsic value but rather, has an extrinsic value.

  • Here, the current stock price is below the strike price of 201,then, we say that the call is out of money.

  • A call option is called Out of the money when the underlying price is trading below the strike price of the call.

Hence, the call in this scenario is known as Out of the money (OTM)

Read more about Out of the money (OTM):

<em>brainly.com/question/15684431</em>

6 0
2 years ago
Franco's Pizzeria sells slices of pizza for $2.00. According to the market demand schedule and assuming ceteris paribus, what ha
Furkat [3]
Due to the increase in the price of the pizza, it is conclusive that the demand will decrease. Assume that the amount he will earn will stay the same and it is the product of the number of pizza and the price, the choice that would satisfy this is the third choice. 
8 0
3 years ago
All of the following are considered examples of disreputable conduct for which a CPA can be disbarred or suspended except Direct
ivann1987 [24]

Answer:

Failure to timely pay personal income taxes.

Explanation:

Rules of Conduct

This is simply said to be a full stated guidance to aim to help an auditor in applying broad principles contained in AICPA's Code of Professional Conduct

These Disreputable conduct if commited by an attorney, certified public accountant, or enrolled practitioner, it can therefore lead to them being disbarred or suspended from practice before the Bureau.

Rules sometimes do changes over time due to the fact that members of profession encountered specific ethical dilemmas in complying with the principles of the code

There are 6 Principles of the AICPA Code of Professional Conduct. They cover:

1. Responsibilities

2. The Public Interest

3. Integrity

4. Objectivity

5. Due Care

6. Scope and Nature of Services

The disreputable conduct for which a CPA can be disbarred or suspended includes the following;

1. When they Directly or indirectly attempting to influence the official action of any employee of the Internal Revenue Service by use of threats or false accusations or by bestowing any gift, favor, or thing of value.

2. Knowingly aiding and abetting another person to practice before the Internal Revenue Service during a period of suspension or disbarment.

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