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Problem -
1. lf ABC Co had net income of$650,000 in 2019 and it experienced a 30% Increase in net income over 2018, what was its 2018 net income?
2. Net income was $500,000 in 2017, $400,000 in 2013, and $508,000 in 2019. What is the percentage change from 2017 to 2018 and 2018 to 2019? Is the change an increase or decrease?
3. Watson Company has owner's equity of S400,000 and net income of $54,000. It has a payout ratio of 20% and a rate of return on assets of 15%. How much did Watson pay in cash dividends, and what were its average assets?
Membership expenses are not related to the business and should be shown as a dividend to shareholder. Record the correcting entry
One of the most significant areas of audit planning and risk assessment is to become expertly knowledgeable about the industry or industries that the audit client operates in. This may involve multiple SBU's (Strategic Business Units).
Assuming that the system of internal control over securities is satisfactory, what are the objectives (specific assertations) for audit of noncurrent securities
In January, they sold 1,750 cakes. How much does each cake contribute to paying for fixed expenses and generating profit
What is the market interest rate on XYZ's debt and its component cost of debt? What is the firm's cost of preferred stock
The following data pertain to operations for the last month: Actual hours 2,900 hours. What is the variable overhead efficiency variance for the month
Adam Ltd acquires all the share capital of Luke Ltd for 5290.000. Provide the workings of necessary worksheet consolidation entries (no marks given) and complete the worksheet below
Reflecting on the information presented in this unit, if you were the owner of a jewelry store, what type of internal controls would you implement? Why?
If the company sold the asset on 31 August 2018 by SR 90,000 what would be the entry to record the disposal of the asset
A total of $836,880 in conversion costs were incurred in the department during the month. What is the cost per equivalent unit for the month
rick is scheduled to go to london on business and would like to do some sightseeing while there. a colleague advises
Which are considered as financial asset or financial liability held for trading? It is a financial asset held for currently undetermined purpose.
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