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vladimir1956 [14]
3 years ago
11

. Identify and explain two principles for ethical accounting practice

Business
1 answer:
Makovka662 [10]3 years ago
4 0

The revised Code establishes a conceptual framework for all professional accountants to ensure compliance with the five fundamental principles of ethics:

Integrity.

Objectivity.

Professional Competence and Due Care.

Confidentiality.

Professional Behavior.

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Berning Company purchased a tractor at a cost of $180,000. The tractor has an estimated salvage value of $20,000 and an estimate
scoundrel [369]

Answer:

$38,000 loss

Explanation:

For calculation of entry to record the sale of the tractor first we need to determine the total depreciation and net book value on Jan 1, 2018 which is shown below:-

Total depreciation = (Tractor cost - Salvage value) × (Hours in 2016 + Hours in 2017) ÷ Hours of operation

= ($180,000 - $20,000) × (2,400 + 2,100) ÷ 10,000

= $72,000

Net book value on January 1, 2018 = Tractor cost - Total depreciation

= $180,000 - $72,000

= $108,000

Loss on sale = Sold tractor amount - Net book value on January 1, 2018

= $70,000 - $108,000

= $38,000

8 0
2 years ago
in a based economy transaction require that each party have something the other desires increase market
Galina-37 [17]

Answer:

The ansewr is a barter based economy.

In a barter based economy, goods are exchanged for other goods, because no good that takes the functions of money exists (unit of account, store of value, and medium of exchange).

Barter economies can work on a limited scope, but to a larger extent, they can become inefficient, because this type of economy requires a double coincidence of wants: both parties of the transaction must desire the other party's goods.

6 0
2 years ago
What is the percentage change in the multifactor labor and raw materials productivity measure for sunpath between 2011 & 201
scZoUnD [109]
2013,2014,2015,2016,2017,2018,2019,2020,2021

6 0
2 years ago
According to the video, what are some common issues treated by Marriage and Family Therapists? Check all that apply.
ira [324]

Answer:

mental and emotional disorders, health and behavioral problems, relationship issues

Explanation:

3 0
3 years ago
Read 2 more answers
A machine is purchased on January 1, 2018, for $102,000. It is expected to have a useful life of eight years and a residual valu
allochka39001 [22]

Answer:

Depreciation expense 2019= $17,062.5

Explanation:

Giving the following information:

Purchase price= 102,000

Useful life= 8

Salvage value= 11,000

To calculate the depreciation expense under the double-declining balance, we need to use the following formula:

Annual depreciation= 2*[(book value)/estimated life (years)]

2018= 2*[(102,000 - 11,000)/8]= $22,750

2019= 2*[(91,000 - 22,750)/8]= $17,062.5

4 0
3 years ago
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