Answer:
Delta
a) Error discovered on 1/1/17: Net income for 2015 is incorrect. The net income is too low by $525
b) Error discovered on 1/1/17: Net income for 2016 is incorrect. The net income is too high by $75.
c) Error discovered on 1/1/18: Total assets for 1/1/18 are incorrect. The assets are too low by $300 ($525 - $225)
d) Error discovered on 1/1/24: Retained earnings and total assets are correct.
Explanation:
a) Data and Analysis:
Cost of equipment on 1/1/15 = $525
Estimated useful life = 7 years
Salvage value = $0
Cost of equipment recorded as Repairs and Maintenance Expense
Answer:
Multiple Employer Welfare Association
Explanation:
A multiple employer welfare association (MEWA) is formed by at least 10 employers who want to lower the tax implications of providing life insurance benefits to their employees.
The whole group combines their contributions into a self-contributing health insurance plan that benefits their employees.
MEWAs are usually formed by small companies, since large corporations with tens of thousands of employees can do the same but on their own without needing other companies.
Answer: (A) Organizational control
Explanation:
According to the question, the organizational control is one of the type of business system process in which the resources are get evaluating and regulating for accomplished the company goals.
There are mainly three types of organizational control that are:
- Clan control
- Output control
- Performance control
The organizational control is one of the important factor in terms of business as identifying all the problem and also prevents from all the frauds in the business. It also improve the communication channel in an organization.
Therefore, Option (A) is correct.
Answer:
Pretax cost of debt = 7.02%
Aftertax cost of debt is 4.56%
Explanation:
As of today, the time to maturity of this bond is 16-2 = 14 years.
You can solve the pretax cost of debt; YTM using the following inputs in a financial calculator;
Time to maturity; N = 14*2 = 28
Face value; FV = 1000
Semiannual coupon payment ; PMT = (6%/2) *1000 = 30
Price of the bond ; PV = 0.91* 1000 = 910
Compute the semiannual interest rate ; CPT I/Y = 3.510%
Since YTM is an annual rat; multiply 3.510% by 2
Pretax cost of debt = 7.02%
b.) Aftertax cost of debt = pretax cost of debt * (1-tax)
= 7.02% *(1-0.35)
= 4.563%
Therefore, aftertax cost of debt is 4.56%
Answer:
The correct answer is B. Group.
Explanation:
The group interview is, as its name suggests, that in which a group of people participate, rather than just one. It is very similar to the panel interview, although in this case the applicant is interviewed successively by different people who belong to different areas and, therefore, you should know some of the questions in a group work interview. In this type of interview it is quite frequent that there is a company psychologist.
Each interviewer will evaluate the candidate according to his own criteria and, once the interviews are finished, criteria will be unified and a common decision will be made on the suitability of the candidate.
