Answer:
The answer is D.
Explanation:
A scope limitation in audit means circumstances hindering an auditor from carrying out his duties according to the audit procedure. A scope limitation can make an auditor issue a qualified opinion or a disclaimer of opinion depending on the materiality of the issue.
Back to the question, a scope limitation sufficient to preclude an unqualified opinion always will result when management refuses to provide a representation letter acknowledging its responsibility for the fair presentation of the financial statements in conformity with General Accepted Accounting Principle (GAAP)
Last year, Big W Company reported earnings per share of $2.70 when its stock was selling for $40.50. If its earnings this year increase by 10% and the P/E ratio remains constant, what will be the price of its stock?
Answer: $44.55
Explanation:
P/E ratio last year = Market price / Earnings per share
= 40.50/2.70
= 15
PE ratio remains constant.
Earnings increase by 10% = 2.70 * 1.10 = $2.97
15 = Market Price / 2.97
Market Price = 15 * 2.97
= $44.55
The MerryWeather Firm wants to raise $11 million to expand its business. To accomplish this, the firm plans to sell 15-year, $1,000 face value zero-coupon bonds. The bonds will be priced to yield 4%. What is the minimum number of bonds the firm must sell to raise the $11 million it needs?
a. 20,711.
b. 113,377.
c. 41,422.
d. 56,688.
e. 23,000.
Answer:
$19,810.54
Explanation:
Calculation for the minimum number of bonds the firm must sell to raise the $11 million it needs
First step is to calculate the price of each bond
Price of each bond =1,000 / (1+0.04)^15
Price of each bond =1,000 / (1.04)^15
Price of each bond =$555.26
Now let calculate the minimum number of bonds the firm must sell
Minimum number of bonds to sell=$11 million/$555.26
Minimum number of bonds to sell=$19,810.54
Therefore the minimum number of bonds the firm must sell to raise the $11 million it needs is
$19,810.54
Higher Ed Publishing is conducting market research to determine what customers think about its educational technology products. Which statement is the best example of how this company can use primary data to gauge customer opinions and interest in its products?
Answer:
It can conduct a telephone survey about its products.
Explanation:
Researches regarding the product, customer opinions and interests of the customers are obtained through the primary and secondary data collection. The collection of the such data helps in gathering the information and helping in the advancement of the product.
In the given excerpt, the company is using the primary data and collecting the information from the customers. The primary data here is gathered through the telephonic survey about the product. The opinions and interests of the customer are collected through market research.
Belkin co provides medical care and insurance benefits to its retireees in the current year belkin agrees to contribute 5% of the employees 310000 gross salaries to a terirement program what is the amount of employee benefits expense for the current period?
a. $25
b. $100
c. $250
d. $12,500
e. $25,000
Answer: 15,500
Explanation:
From the question, we are informed that Belkin co provides medical care and insurance benefits to its retireees in the current year Belkin agrees to contribute 5% of the employees 310000 gross salaries to a terirement program.
The amount of employee benefits expense for the current period will be calculated as:
= 5% × 310,000
= 5/100 × 310,000
= 0.05 × 310,000
= 15,500
Celeste transferred 100 percent of her stock in Supply Chain Company to Marketing Corporation in a Type A merger. In exchange, she received stock in Marketing with a fair market value of $562,000 + $562,000 in cash. Celeste's tax basis in the Supply Chain stock was $1,320,000. What amount of loss does Celeste recognize in the exchange and what is her basis in the Marketing stock she receives?
Answer: $196000
Explanation:
Firstly, we have to calculate the stock basis which will be the difference between the carryover Basis and the cash received. This will be:
= $1,320,000 - $562,000
= $758,000
If the sticks are being sold at $562,000, this will bring about a loss of:
= $758,000 - $562,000
= $196000
_____ is the system used to record a firm's financial transactions in a routine and clerical process.
Answer:
book-keeping
Explanation:
Congress votes to substantially increase the minimum wage. The determinant causing the shift in this scenario is:___________.
Answer:
resource cost or availability
Explanation:
In the case when there is a votes of congress that rise the minimum wage. So this results in the shifting of the cost of the resource or the availability
Therefore as per the given situation there would be rightward shifting as the minimum wage is rised
Also the shifting could be done with respect to the resource cost or the availability
Zwick Company bought 25,500 shares of the voting common stock of Handy Corporation in January 2021. In December, Handy announced $202,700 net income for 2021 and declared and paid a cash dividend of $3.00 per share on all 202,500 shares of its outstanding common stock. Zwick Company's dividend revenue from Handy Corporation in December 2021 would be:
Answer:
$76,500
Explanation:
Zwick Company owns 25,500 shares of Handy Corporation, which represents 25,500 / 202,500 = 12.59% of all common stocks. Since Zwick influence over Handy is not significant, all dividends received will be directly considered dividend revenue.
total dividends received = $3 per share x 25,500 shares = $76,500
On June 1 of the current year, Cross Corp. issued $300,000 of 8% bonds payable at par with interest payment dates of April 1 and October 1. In its income statement for the current year ended December 31, what amount of interest expense should Cross report?
a. $14,000.
b. $6,000.
c. $12,000.
d. $8,000.
Answer: amount of interest expense Cross should report =a. $14,000.
Explanation:
interest expense = Principal( Face value) x Rate x period( Time)
Carrying value of the bond ( face value ) =$300,000
Rate= 8%
year ended on December, therefore The interest expense recorded would be for four months ( From June 1 to December 31 )
Therefore the Interest Expense = $300,000 x 8% x 7/12
= $300,000 x 0.08 x 7/12
= $168,000/12
$14,000
The amount of interest expense Cross should report at the current year end is $14,000
Which of the following is not a level of control
Answer:
ere are the option???
Explanation:
When the grocery store orders a large shipment of chocolate candy just before Valentine's Day, this type of inventory is typically called:_______
A. Smoothing Inventory
B. Hedge Inventory
C. Cycle Stock
D. Transportation Inventory
E. Anticipation Inventory
Answer:
E. Anticipation Inventory
Explanation:
In the case when the grocery store wants to order for a big chocolate shipment prior to the valentine day so there the inventory type would be anticipation inventory as it represents the demand anticipation for the forthcoming event i.e. valentine day
So the same is to be considered
Hence, the correct option is E
And, the other options are incorrect
Hassock Corp. produces woven wall hangings. It takes 3 hours of direct labor to produce a single wall hanging. Hassock standard labor cost is $13 per hour. During August, Hassock produced 9,000 units and used 27,160 hours of direct labor at a total cost of $323,220. What is Hassocks labor efficiency variance for August?
Answer:
Direct labor time (efficiency) variance= $2,080 unfavorable
Explanation:
Giving the following information:
Standard= 3 hours of direct labor per unit
The standard labor cost is $13 per hour.
During August, Hassock produced 9,000 units and used 27,160 hours
To calculate the direct labor efficiency variance, we need to use the following formula:
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (3*9,000 - 27,160)*13
Direct labor time (efficiency) variance= $2,080 unfavorable
18)
Whiskey, gin, and vodka are examples of
spirits (3 pts).
Answer:
Vodka, gin, baijiu, shōchū, soju, tequila, rum, whisky, brandy and singani are examples of distilled drinks. Beer, wine, cider, sake and huangjiu are examples of fermented drinks.
Explanation:
King Corporation owns machinery with a book value of $760,000. It is estimated that the machinery will generate future cash flows of $700,000. The machinery has a fair value of $560,000. King should recognize a loss on impairment of:_____.
A. $ 60,000.
B. $ 140,000.
C. $200,000.
D. $ -0-.
E. None of the other answers are correct.
Answer:
C. $200,000.
Explanation:
The computation of the impairment loss is shown below:
= Book value of the machinery - fair value of machinery
- $760,000 - $560,000
= $200,000
Hence, the impairment loss is $200,000
Therefore the correct option is c.
We simply applied the above formula so that the correct value could come
And, the same is to be considered
You have been offered a 10-year bond issued by Tiger Inc., at a price of $950.00. The bond has a coupon rate of 8% and pays the coupon semiannually. Similar bonds in the market offers a yield of 9% today. Should you buy the bonds at the offered price
Answer:
since the market price is lower than the offered price, you should reject this offer
Explanation:
bond's market value
PV of face value = $1,000 / (1 + 4.5%)²⁰ = $414.64
PV of coupon payments = $40 x 13.00794 (PV annuity factor, 20 periods, 4.5%) = $520.32
market price = $934.96
since the market price is lower than the offered price, you should reject this offer
On the foundation day of an organization, the president of the organization awards exceptionally performing employees with a bouquet and a plaque at a banquet every year. This is an example of:
Answer:
Ceremony
Explanation:
Ceremony which can as well be reffered to as Rites and Rituals in an organization can be regarded as a pre-planned events which has social, formalities as well as latents purposes. This manifest purpose have effect on how the organization is working and in aiding the acheiving the organizational goals. It involves motivation of employee in the organization by giving bout award to the outstanding among them. For instance, On the foundation day of an organization, the president of the organization awards exceptionally performing employees with a bouquet and a plaque at a banquet every year is an example of a ceremony.
What is the general relationship between risk and return?
Marigold Corp. constructed a building at a cost of $30600000. Weighted-average accumulated expenditures were $13000000, actual interest was $1300000, and avoidable interest was $604000. If the salvage value is $2400000, and the useful life is 40 years, depreciation expense for the first full year using the straight-line method is
Answer: 720,100
Explanation:
Given that:
Cost of building = 30600000
Avoidable interest = 604,000
Salvage value = 2400000
Useful life = 40 years
((Cost of building + Avoidable interest) - salvage value)) / 40
((30600000 + 604000) - 2400000)) / 40
= 28804000 / 40
= 720,100
question 5 eiyfgeyfie
Answer:
where's the question?
What is the percentage return on a stock that was purchased for $48.40, paid a $1.67 dividend, and was then sold after one year for $46.20?
a) -1.10%
b) -2.50%
c) 0.23%
d) -0.33%
Answer:
a) -1.10%
Explanation:
To calculate the holding period return we will use the foloowinf formula
Holding Period return = ( Dividend Income + Price appreciation ) / Initial price
Where
Dividend Income = $1.67
Price appreciation = Selling Price - Initial price = $46.20 - $48.40 = -$2.20
Initial Price = $48.40
Placing the above values in the formula of Holding period return
Holding period return = ( $1.67 + ( -$2.2 ) ) / $48.40
Holding period return = ( $1.67 - $2.2 ) / $48.40
Holding period return = -$0.53 / $48.40
Holding period return = -0.01095
Holding period return = -1.095%
Holding period return = -1.10%
dishwashers. How many of each type should Sparkle Clean produce to fulfill the order AND minimize their production cost
Answer:
hello your question is incomplete attached below is the complete question
Answer :
112 units of standard dishwashers and
178 units of deluxe dishwashers
Explanation:
from the calculations we can see that
D(x,y) > 0 and Vxx > 0
The cost will be minimized during production when 112 units of standard dishwashers and 178 units of deluxe dishwashers are produced by sparkle clean
attached below is a detailed solution
Xtron has few rules and procedures and prides itself on empowering lower-level employees to be nimble and responsive to its customers' rapidly changing needs. Xtron would be best described as a(n) ______ organization.
Answer:
Organic
Explanation:
From the question, we are informed about Xtron who has few rules and procedures and prides itself on empowering lower-level employees to be nimble and responsive to its customers' rapidly changing needs. In this case Xtron would be best described as a organic organization.
Organic organizations, which was set up by Tom Burns and G.M. Stalker arround 1950, organic organization can be regarded as organization that is can be embrace flexibility and have the potential to adapt well to changes, they also have
value external knowledge.
g Stock A has a beta of 1.5. Stock B has a beta of 1.2 and an expected return of 12 percent. If the risk-free rate is 2 percent and both stocks have equal reward-to-risk ratios, what is the expected return on stock A
Answer:
14.5%
Explanation:
The computation of the expected return on stock A is shown below:
Given that
The expected return of stock b = 12%
beta = 1.2
Now
risk free rate = 2% market risk premium
So as per CAPM, the expected return = risk free rate + beta × market risk premium
0.12 = 0.02 + 1.2 × market risk premium
1.2 × market risk premium = 0.10
So,
market risk premium is
= 0.10 ÷ 1.2
= 0.0833 or 8.33%
Since they have equal risk reward so the market risk premium would be same for stock A
Now
The expected return of stock A is
= 2% + (1.5 × 8.33)
= 14.5%
The information that follows relates to Khan Corporation:________.
Sales margin: 7.5%
Capital turnover: 2
Invested capital: $20,000,000
On the basis of this information, the company's sales revenue is:______.
A) $40,000,000.
B) $10,000,000.
C) $1,500,000.
D) $3,000,000.
E) None of the answers is correct.
Answer:40,000,000
Explanation:
Sales margin: 7.5%
Capital turnover: 2
Invested capital: $20,000,000
The company sales revenue will be calculated thus:
Capital turnover = Sales / Invested capital
Therefore, 2 = Sales / 20,000,000
Sales = 2 × 20,000,000
Sales = 40,000,000
Therefore,the company sales revenue is 40,000,000
I am trying to convince my dad to let me be Interior Designer. What are some resons for me to become a Interior Designer?
Answer:
Explanation:
1 You can manage your time according your scheduled projects.
2 You can have a lot of costumers around the world
3 It is a profitable niche if you are skilled.
4 Your brain always gonna be creative and curious.
5. You can travel around the world with your knowledge.
6. If you are a good one, you maybe have a lot of followers in your networks liking your work.
7 And if really is your passion job, you will be happy in your life.
Best regards
The term inadequacy refers to:______
A. The inability of a plant asset to meet its demands.
B. An asset that is worn out.
C. An asset that is no longer functional.
D. The condition where the salvage value is too small to replace the asset.
Answer: A. The inability of a plant asset to meet its demands.
Explanation:
When something is said to be inadequate, it means that it is not in enough quantity or rather lacks the capacity to perform the tasks that it is needed for.
The same goes when this is being spoken in relation to an asset. A plant asset that is inadequate is unable to meet the demands that it was acquired for.
In U.S. price support programs, the "loan rate" is:______.
a. determined by Federal Reserve policy.
b. the interest rate a farmer must pay if he borrows from the government with his crop as collateral.
c. the difference between the market price and the target price.
d. the proportion of the farmer's crop he can loan to the government.
e. the effective price (i.e. price floor) for the commodity to ensure loan repayment.
Answer: E. the effective price (i.e. price floor) for the commodity to ensure loan repayment
Explanation:
The Price Support Programm is a policy by the government that is used in order to help farmers when there's a reduction in prices of agricultural products by giving out insurance to the farmers.
In U.S. price support programs, the "loan rate" is simply the effective price (i.e. price floor) for the commodity to ensure loan repayment.
Brian Inc. borrowed $8,000 from First Bank and signed a promissory note. What entry should Brian Inc. record?
Answer:
Dr Notes Receivable $8,000
Cr Cash $8,000
Explanation:
Based on the information given we were told that Brian Inc. borrowed the amount of $8,000 from First Bank in which they signed a promissory note which means that the journal entry that Brian Inc. should record the transaction is :
Dr Notes Receivable $8,000
Cr Cash $8,000
Robert House believed that a leader cannot move back and forth among the four leadership styles: directive, supportive, achievement-oriented, and participative.
a) True
b) False
brainstorming solicits the help of multiple people to formulate concepts and identify ways to bring them to market. true or false
Answer:
a.
Explanation:
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