Answer:
Explanation:
Workable ethical theory that was violated was the ideology of justice. However if we look at SECE and IEEE COE, the clauses that have been violated are
SECE: Clause g. “Software engineers shall be fair to and supportive of their colleagues”
IEEE COE: Clause 3. “To be honest and realistic in stating claims or estimates based on available data”
By taking a gold spot instead of a green spot that he was entitled he has violated the overall rights of justice and has not supported his colleagues. He also has not been honest in his claims.
However, considering the overall view of ethics, the student did not have any choice and he did the right thing by parking at whichever spot available.
In the closing procedure, expenses and dividends are zeroed out by crediting each account, and incomes are zeroed out by debiting each account.
<h3>What is the objective of the closing process?</h3>
One purpose of closing admissions is to communicate net income or net loss for the period to Retained Earnings. A second objective is to "zero out" all temporary accounts (revenue accounts, expense accounts, and Dividends) so that they begin each new period with a zero balance.
The statement of cash flows must be prepared last because it takes data from all three previously prepared financial statements.
To learn more about the closing procedure visit the link
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Answer:
B. n/a (200) 200 200 n/a 200 n/a
Explanation:
A purchase discount is a contra-expense account which has a credit balance. Expenses have normal debit balances, so a credit balance will decrease the expenses incurred by the company.
E.g. you paid $100 within the discount period (2% discount)
Dr Accounts payable 100
Cr Cash 98
Cr Purchase discounts 2
This transaction doe snot affect assets, but it will decrease liabilities by $200 and increase R.E. by $200. Since this is a contra expense account, it will increase revenue and net income. It doesn't generate any additional cash flows.
Answer:
a decrease in the effectiveness of assets in producing sales by a favorable trend in using assets to generate sales.
Explanation:
Assets turnover ratio = 
Therefore when the ratio increases it means the level of sales has increased, with a higher rate than earlier.
Now also with this it reflects that the effectiveness of assets in producing sales as by a favorable trend, as higher the ratio more favorable it is, as depicts higher sales.
Residual income is named as such because it is the net income that you obtain. This includes all your total sales subtracted with bill payments, personal debts and other variable costs. Its formula is
Residual income = Net Operating Income - (Minimum Required Return * Average Operating Assets)
Substituting the values to the equation.
Residual Income = $100,000 - (0.15 × <span>$500,000)
Residual Income = $25,000
</span>The residual income gives the company an idea on its success and influences the company's decision to close or to expand. If the residual income is positive, then it means the company is earning more than its minimum. If the residual income is negative, then the company has a deficit.
