The goal of an audit of financial statements is to enable an auditor to specific an opinion as to whether or not the economic statements are prepared, in all material respects,
in accordance with International Financial Reporting Standards or another recognized financial reporting framework.
<h3>What is the primary motive of monetary statements?</h3>
This studying has presented an overview of economic statement analysis. Among the principal factors included are the following: The principal purpose of financial reports is to furnish records and records about a company's economic position and performance, consisting of profitability and cash flows.
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Explanation:
I will work and raise a foundation to help to all those in need with a non profit organization
The statement that provides the financial position of a company as of a specific date is the balance sheet.
<h3>What is a statement of financial position?</h3>
A balance sheet is often known as a statement of financial situation. It serves as a summary of a company's financial situation at a specific moment.
A balance sheet is a summary of the financial positions of a person or an organization in financial accounting, regardless of whether they are a sole proprietorship, a business partnership, a corporation, a private limited company, or another type of organization like the government or a not-for-profit entity.
An organization's assets, liabilities, and shareholder equity are listed on a balance sheet, which is a financial statement. One of the three primary financial statements used to assess a company is the balance sheet. It offers a snapshot of the assets and liabilities of a corporation as of the publication date.
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Answer and Explanation:
The journal entries are shown below:
On Mar 12
Account receivable Dr $9,100
To Service revenue $9,100
(Being the service provided on the account is recorded)
For recording this we debited the account receivable as it increased the assets and credited the service revenue as it also increased the revenue
On Mar 20
Cash $8,918
Sales discount ($9,100 × 2%) $182
To Accounts receivable $9,100
(Being cash received recorded)
For recording this we debited the sales discount and cash as it increased the discount and assets and credited the account receivable as it reduced the assets
Answer:
650
Explanation:
A call option is an option to buy a product or asset at a stated price at a later date. The risk of call option is capped at premium for buying the option. Wildwood corporation will incur cost of 650 to establish the bull money spreads with calls.
8.5 +4.5 = 13
13 * $50.00 = $650
