Answer:
O'Hara Marine Co.
Depreciation Expense is:
$13,903
Explanation:
a) Data and Calculations:
sales = $75,500;
costs = $35,200;
addition to retained earnings = $9,580;
dividends paid = $8,420;
interest expense = $2,620;
tax rate = 23 percent
Net Income:
addition to retained earnings = $9,580;
dividends paid = $8,420
Total net income = $18,000
Pre-tax Income = $18,000/0.77 = $23,377
Income tax (23%) of $23,377 = $5,377
After Tax Income = $18,000 ($23,377 - 5,377)
Depreciation:
sales = $75,500
costs = $35,200
Gross profit = $40,300
Less interest (2,620)
Less net income (23,777)
Depreciation = $13,903
ANSWER:
Social change refers to any significant alteration over time in behaviour patterns and cultural values and norms. By “significant” alteration, sociologists mean changes yielding profound social consequences.
Answer:
C encourage employee participation while setting goals.
Explanation:
Goals are ideas in which an individual or group of people or organization aim to achieve within a stipulated time.
While top managements of organizations are saddled with the responsibility of setting goals and cascaded to lower managers and subsequently junior employees, it is now essential that employees are encouraged to participate in these goal settings.
By involving employees in goal settings, there would be increase in goals commitment thereby leading to dedication amongst employees and subsequently results to attainment of such goals.
Answer:
The answer is A, assets will be understated.
Explanation:
When a purchase is registered, it must be like this:
+credit for the supplies
+debit for the liability, or -credit for the cash used
If the registration of the asset is not made, then the assets will be understated and the accounting equation does not balance, because the liability or the -credit of asset cash has been registered.
Understated means two things, the amount is not the correct amount, and the amount is less than the true amount. In other words, the amount is too small.
Answer:
A) Fairness of financial statements.
Explanation:
Auditors review the financial statements of firms.
An unqualified or clean audit opinion means the financial statements are true and fair.
A qualified opinion means that there is some exception to accounting standards in the financial statement.
An adverse audit opinion means that the financial statement are not fairly represented
