The correct option is D. state government officials review the audit performed by CPA firms for such organizations
The following information should be considered:
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This is op's alt account its D
Answer: Expected Return = 0.47
Explanation:
Using the CAPM, The Capital Asset Pricing Model formulae , we have that
Expected Return = Risk Free Rate + Beta(Market Return - Risk Free Rate)
Where
market return is 0.19
Beta =2.67
risk-free asset= 0.02
Expected Return=0.02 +2.67 X (0.19 - 0.02)
=0.02 +2.67 X (0.17)
0.02 +0.4539
Required Return=0.47
Therefore Expected Return for Snap On Inc is 0.47
Answer:
September 11 2017
Dr Cash 600
Cr Sales revenue 600
(to record sales revenue on cash)
Dr Cost of good sold 370
Cr Inventory 370
(to record cost of good sold)
Dr Warranty expenses 54
Cr Warranty liabilities 54
(to accrue for warranty liabilities)
Jul 24 2018
Dr Warranty liabilities 42
Cr Inventory 42
(to record warranty services provided which was accrued)
Explanation:
11 Sep 2017:
- As sell of $600 is made on cash with the cost of good sold is $370, we Dr Cash 600 and Dr Cost of good sold 370 to record increase in cash and in Cost of good sold; and Cr Sales 600 and Cr Inventory 370 to record increase in sales and decrease in Inventory delivered.
- Warranty expenses should be recorded at the time to ensure matching of cost and revenue. Warranty expenses is estimated at 9% of sales, so it will be 9% x 600 = $54. Expenses is recorded and liabilities is accrued.
Jul 24 2018:
Warranty liabilities which was accrued actually occurs. So we Dr Liability by the expenses actually incurred and Cr Inventory consumed for the warranty services $42.
b. The company paid $6,000 cash in advance for prepaid insurance coverage.
c. The company purchased $800 of supplies on account.
d. The company paid $600 cash for selling expenses.
e. The company received $6,000 cash for services provided.
f. The company paid $800 cash toward accounts payable.
g. The company paid $4,000 cash for equipment.
Here are the general journal entries for each of the transactions:
a. D. Belle invested in the business with cash, equipment, and web servers in exchange for common stock:
b. The company paid in advance for insurance coverage:
c. The company purchased supplies on account:
d. The company paid cash for selling expenses:
e. The company received cash for services provided:
f. The company paid cash to settle accounts payable:
g. The company paid cash to acquire equipment:
Journal entries are the chronological recordings of financial transactions in a company's accounting system. They serve as a detailed record, documenting each transaction's effects on various accounts, such as assets, liabilities, revenues, and expenses.
Journal entries provide a clear audit trail, helping track the flow of money and enabling the creation of financial statements.
They act as the foundation for accurate financial reporting, facilitating transparency, analysis, and decision-making within an organization.
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This question is about preparing general journal entries for various transactions in Belle Co.'s business. The company engages in activities such as investing cash and equipment, purchasing supplies on account, and receiving cash for services provided. The journal entries for each transaction are provided in the response.
Journal Entry a:
Debit: Cash ($5,900) + Equipment ($6,900) + Web servers ($12,900)
Credit: Common stock ($25,700)
Journal Entry b:
Debit: Prepaid Insurance ($6,000)
Credit: Cash ($6,000)
Journal Entry c:
Debit: Supplies ($800)
Credit: Accounts payable ($800)
Journal Entry d:
Debit: Selling expenses ($600)
Credit: Cash ($600)
Journal Entry e:
Debit: Cash ($6,000)
Credit: Service revenue ($6,000)
Journal Entry f:
Debit: Accounts payable ($800)
Credit: Cash ($800)
Journal Entry g:
Debit: Equipment ($4,000)
Credit: Cash ($4,000)
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Answer:
a. $49,933,333.33 million
b. $48,533,333.33 million
Explanation:
The computations are presented below:
a. For current profits as dividends in before case
= Profits × (1 + opportunity cost) ÷ (opportunity cost - growth rate)
= $1,400,000 × (1 + 0.07) ÷ (0.07 - 0.04)
= $1,400,000 × 35.6666
= $49,933,333.33 million
b. For current profits as dividends in after case
= Profits × (1 + growth rate) ÷ (opportunity cost - growth rate)
= $1,400,000 × (1 + 0.04) ÷ (0.07 - 0.04)
= $1,400,000 × 34.6666
= $48,533,333.33 million
Using the Gordon growth model, the value of the firm before dividend payouts is calculated to be $49,933,333.33. However, instantly after the dividend payouts, the firm's value becomes zero.
The value of the firm can be determined using the Gordon growth model, which is used to determine the value of a firm or stock that pays dividends that are expected to grow at a constant rate. In such a scenario, the firm's value is equal to the dividends of the next period (D1) divided by the required rate of return minus the growth rate of dividends.
Part A: The firm's value, before the payouts, can be calculated as:
Value = D0 * (1+g) / (k-g) = $1,400,000 * (1+0.04) / (0.07-0.04) = $49,933,333.33
Part B: The firm's value, after payouts, assumes that the firm's capital has come back to the company and will start accumulating again once the next cycle begins. Thus the firm's value would become zero.
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Answer: $550,000
Explanation:
From the question, we are informed that Barney and Betty sold their home (sales price $750,000; cost $200,000) and that all the closing costs were paid by the buyer.
Since no unusual or hardship circumstances apply and all the closing stocks were paid by the buyer, the amount of the gain that will be included in gross income will be:
= $750,000 - $200,000
= $550,000
Answer:
a. 244,662,000
b. 155,654,000
c. 63.62%
d. 7.92%
Explanation:
a. the adult population
Adult population = Number of employed + Number of unemployed + Number of people not included in labor force
= 143,322,000 + 12,332,000 + 89,008,000
= 244,662,000
b. the labor force
Labor force = Number of employed + Number of unemployed
= 143,322,000 + 12,332,000
= 155,654,000
c. the labor-force participation rate
Labor-force participation rate = Labor force ÷ Adult population × 100
= 155,654,000 ÷ 244,662,000 × 100
= 63.62%
d. the unemployment rate
Unemployment rate = Number of unemployed ÷ Labor force × 100
= 12,332,000 ÷ 155,654,000 × 100
= 7.92%
The Bureau of Labour Statistics announced is:
A. The adult population = Employed + Unemployed + Not in the labour force
The adult population = 143,322,000 + 12,332,000 + 89,008,000
The adult population = 244,662,000
B. The labour force = Employed + Unemployed
The labour force = 143,322,000 + 12,332,000
The labour force = 155,654,000
C. The labor-force participation rate = (Labour force / Adult population) × 100
The labor-force participation rate = 155,654,000 ÷ 244,662,000 × 100
The labor-force participation rate = 63.62%
D. The unemployment rate = Number of unemployed ÷ Labour force × 100
The unemployment rate = 12,332,000 ÷ 155,654,000 × 100
The unemployment rate = 7.92%
Therefore, a. 244,662,000, b. 155,654,000, c. 63.62%, d. 7.92%
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