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2 years ago

Which of the following statements is false?

Business

1 answer:

ella [17]2 years ago

3 0

Answer: D

Explanation:

Not necessarily. As long as the company follows GAAP (IFRS or ASPE), the format and information should be the same. This is because the accounting standards requires firm to report financial information in a specific way.

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Ruth, a cashier at a private bank, strongly believes that no matter how much effort she puts in or how many hours she works over

Citrus2011 [14]

Answer:

Ruth, a cashier at a private bank, strongly believes that no matter how much effort she puts in or how many hours she works overtime, she will not be offered a promotion in the next 10 years. In this scenario, Ruth's beliefs are in accordance with the expectancy theory.

6 0

3 years ago

"Tiberend, Inc., sold $150,000 in inventory to Schilling Company during 2017 for $225,000. Schilling resold $105,000 of this mer

Mkey [24]

Answer:

$9900

Explanation:

Given:

Inventory value $150,000
Revenue: $225,000
Schilling resold: $105,000
Tiberend owns 25 percent

We need to find the gross profit and its ratio.

The gross profit = Revenue - Inventory value

= $225,000 - $150,000 = $75,000

The gross profit ratio = $\frac{Gross profit}{Revenue}$ = $\frac{75,000}{225,000}$ = $\frac{1}{3}$ = 33.33%

Ending inventory with schilling resold

= Revenue - schilling resold

= $225,000 - $105,000 = $120,000

Total unrealized profit: $120,000*25% = $30,000

So, Intra entity unrealized gross profit is

= Total unrealized profit × Tiberend ownership intra entity unrealized gross profit is

= $30,000 × 33%

= $9900

Hope it will find you well.

7 0

3 years ago

Read 2 more answers

How does a payroll accountant use the information in the General Ledger? (You may select more than one answer. The account balan

son4ous [18]

Answer: General Leger account balances aggregate data to determine payroll costs .

The account balances form the basis for accounting reports.

Explanation: a General ledger is defined as the central accounting record of a company or organization consisting of the accounts that support the value items shown in the major financial statements.

The general ledger provides information of accounting reports which in turn is used to balance aggregate data to determine payroll costs .

4 0

3 years ago

Bonds ________ and stocks ________.

Sindrei [870]

Answer:

The correct words for the blank spaces are: are low-risk investments; are high-risk investments.

Explanation:

Bonds are considered to be <em>low-risk investments </em>compared to stocks because an interest rate fixed payment is made with bonds in regular periods. Instead, stocks are <em>high-risk investment</em>s since they payout dividends to stakeholders based on a company's profits implying investors will only earn a profit if the company has been able to earn income during a period. Even if that happens, the firms can retain the earnings for reinvestment.

7 0

2 years ago

Havermill Co. establishes a $450 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei

alexdok [17]

Answer:

Dr Petty cash $312

Cr Cash $312

Explanation:

Preparation of the journal entry to record the reimbursement of the fund on September 30

Since we were told that Havermill Co. establishes the amount of $450 as petty cash fund on September 1 in which the fund also had a balance of $138 which means the Amount required for reimbursement of the fund will be:

Amount required for reimbursement of the fund = The Beginning balance - The Remaining balance

Amount required for reimbursement of the fund = 450 - 138

Amount required for reimbursement of the fund = $312

Therefore the journal entry to record the reimbursement of the fund on September 30 will be :

September 30

Dr Petty cash $312

Cr Cash $312

3 0

2 years ago