Answer:
Management
Explanation:
Sometimes in the course of discharging his duties, an auditor might discover a case of non-compliance with laws and regulations. In such situations, he is expected to report the issue to the governing body or management of the organization who in turn notify parties outside the client's organization. This might imply reporting to the appropriate law enforcement agencies who now investigate the matter.
The auditor should ensure that he is keeping to the code of confidentiality before proceeding on such a case. The management is expected to review the report to determine if the action was indeed non-compliant with the laws before proceeding on the next call of action.
Answer:
x = $16,078.46
Explanation:
$100,000 = 1.0101x + 1.0204x + 1.0309x + 1.0417x + 1.0526x + 1.0638x
$100,000 = 6.2195x
x = $100,000 / 6.2195 = $16,078.46
month investment value at end of month 6
1 $16,078.46 $17,104.74
2 $16,078.46 $16,924.68
3 $16,078.46 $16,748.39
4 $16,078.46 $16,575.73
5 $16,078.46 $16,406.59
6 $16,078.46 $16,240.87
total $96,470.76 $100,001*
*the extra $1 is due to rounding errors.
Depreciation is a way not only to recognize the lost value over time of an asset, but also a way to recognize the expense of the asset over time. To this end, we want to see the value of the asset get smaller, and a piece of the asset on the the income statement ever period.
The depreciation base is 95,000 -5,000 = 90,000, and the depreciation period is 90,000/15,000 = 6 years.
The journal entry every year will be
Dec. 31
Debit: Depreciation expense 15,0000
Credit: Accumulated Depreciation (15,000)
Accumulated depreciation is a *contra-asset* account on the balance sheet that reduces the value of the the depreciable asset.
Answer:
$138,000
Explanation:
The computation of the cost of Raw Materials Purchased is shown below:
= Direct materials used + ending direct material inventory - beginning direct material inventory
= $130,000 + $40,000 - $32,000
= $138,000
Simply we added the ending direct material inventory and deduct the beginning direct material inventory to the direct material used so that the accurate amount can come
