1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
pochemuha
3 years ago
9

Auditors-Are-Us LLC, audited the financial statements of LINKCO Industries, a private company, for the year ended December 31, 2

020. Materiality threshold was $500,000. The following issues were encountered during the audit:
1. Management understated Income Tax Expense by $800,000. The auditors' Proposed Adjusting Journal Entry was accepted. This was a matter that involved especially challenging, subjective and complex judgements.
2. Management revealed to the auditors that it had lost a customer - Alliance Industries - on June 1, 2021. This Customer accounted for 25% of LINKCOS Revenues in 2020.
3. LINKCO is a defendant in a lawsuit alleging patent infringement. This is adequately disclosed in the Notes to the Financial Statements but no provision for liability was recorded by Management. The auditors Proposed Adjusting Journal Entry for $1,000,000 was rejected by Management. Masco's Net Income is $8,000,000 in 2020. It had weighted average common shares outstanding of 200,000 and fully diluted shares of 400,000 during 2020.
Business
1 answer:
Finger [1]3 years ago
4 0
Bfncncnnfg

b
h
b

j
u
enshjrhfjfjjdjejeuejjfjrieudueheh
You might be interested in
State any five reasons why an entrepreneur may carryout Market survey.​
swat32

Answer:

to know what the other people are interested in, for example they do a survey to see how much of each product they need and the popularity of how many people like the stuff, those are 2 reasons, quantity and I would say popularity 3: get the people to know that enreprenuer cares 4 and five just think about it, I cant really think of anymore

Explanation:

6 0
3 years ago
Read 2 more answers
If the economy booms, RTF, Inc., stock is expected to return 13 percent. If the economy goes into a recessionary period, then RT
Furkat [3]

Answer: 0.000903

Explanation:

Expected return is the sum of the probability that the other returns will happen.

= (13% * 83%) + (5% * 17%)

= 10.79 % + 0.85%

= 11.64%

Variance = ((Return during boom - Expected return)²*probability of boom) + ((Return during recession - Expected Return)²*probability of recession)

Variance = ((13% -11.64%)² * 83%) + (5% - 11.64%)² * 17%)

= 0.0001535168 + 0.0007495232

= 0.000903

6 0
3 years ago
After shopping at a Cut-Price store, Dyan finds a fitness watch in her bag of purchases that she knows she did not pay for. If D
hram777 [196]

Answer:

A) conversion

Explanation:

Conversion is when someone wrongfully use property of another for their own purposes . In an action for conversion, the taking of the property may be lawful, but the retaining of the property is unlawful.

Same in this case retaining the fitness watch is unlawful to use the property which belongs to others.

5 0
3 years ago
The class trip is going to cost each of the fifty
Alex

Answer:

$6,825.00

Explanation:

50x$130=$6,500.00

$6,500 × 5% = $325.00

$325.+$6,500=6,825.00

8 0
3 years ago
What is the definition of a growth stock?
sergeinik [125]

Answer:

In finance, a growth stock is a stock of a company that generates substantial and sustainable positive cash flow and whose revenues and earnings are expected to increase at a faster rate than the average company within the same industry.

Explanation:

3 0
3 years ago
Other questions:
  • What is a sales lead?
    9·2 answers
  • The study of large-scale economic phenomena is calle
    11·1 answer
  • When Miami Herald launches a Spanish-language newspaper, El Nuevo Herald, with articles emphasizing Hispanic, Cuban, and Latin A
    5·1 answer
  • Katlin Markets is debating between a levered and an unlevered capital structure. The all-equity capital structure would consist
    14·1 answer
  • Matt newell, a former air force pilot, decides to operate a helicopter tour company to provide customers with breathtaking views
    5·1 answer
  • Outstanding stock of the West Corporation included 40,000 shares of $5 par common stock and 10,000 shares of 5%, $10 par non-cum
    10·1 answer
  • A particular forecasting model was used to forecast a six-month period. Here are the forecasts and actual demands that resulted:
    8·1 answer
  • Which type of interview presents the interviewee with a project which the interviewee must create and carry out a plan for?
    6·1 answer
  • Comfy Clothing is thinking of hiring Tom. If hired, he can increase total production by 100 units a week. He would cost the firm
    7·1 answer
  • Kotter studied a number of successful general managers over a five-year period and found that they spend most of their time by t
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!