Answer:
The answer is: A) No auditing procedures were performed after the date of the Year 1 auditor's report.
Explanation:
Since Gole is including a separate paragraph in the review report for Year 2 to describe his responsibility for the previous period's financial statement (Year 1), he should include in that paragraph the fact that he didn't perform any more audit procedures after he presented his review report for Year 1.
Answer:
cash 1,500 debit
accumulated depreciation- VAN 18,000 debit
loss at disposal 500 debit
VAN 20,000 credit
Explanation:
The journal entry must remove the van and their associate account from the company's books.
Therefore, will write-off van account and the accumulated depreciation.
Patel is receiving cash by the amount of 1,500 dollars. It will post the receipts as a debit to this account.
The difference will be considered gain/loss at disposal.
In this case, as the amount received 1,500
is lower than book value: 20,000 - 18,000 = 2,000
it will be a loss at disposal
Answer:
its demand increases and when the price of a commodity rises,
Explanation:
demand decreases other things remaining constant.
<span><span>(d)
George can disaffirm the contract, but he must pay for the reasonable value of
the goods. A minor who
has been emancipated has all the </span>contractual<span> rights and obligations of a person who has reached the age of majority
and the right to disaffirm is the 1st right granted to minors in
contract law cases.</span></span>
Answer and Explanation:
The computation of the overhead rate for each activity is as follows;
Overhead rate is
= Respective overhead cost ÷ Respective activity
For Machine setups
= ($202,800 ÷ 2,600 setups)
= $78 per setup
For Machining
= ($364,500 ÷ 24,300 machine hours)
= $15 per machine hour
For Inspection
= ($88,000 ÷ 1,600 inspections)
= $55 per inspection
In this way it is calculated
