32. which of the following is not an appropriate reporting option one component Auditors are involved in the audit of group financial statements assuming that the component Auditors work did not identify any issues affecting the group Auditor's report? a. issue a standard (unmodified) report that does not reference any involvement by the component auditors b. identify the component Auditors by name and present their report along with the group Auditor's report c. refer to the component Auditors work and disclose the extent of their work in the group Auditor's report d. disclaim an opinion on the portion of the financial statements examined by the component auditors

Q: A company had the following transactions during September, the first month of its operations: Issued...

A: Formula: Net income = Revenues - Expenses

Q: Ace Hardware Inc has the following information: • Dividends on its 10,000 cumulative preference shar...

A: Retained Earnings The calculation of retained earnings is added the net earning which are incurred i...

Q: Netsol Communication purchased equipment on January 1, 2018, for $27,500. Suppose Netsol Communicati...

A: Formula: Straight line method = ( Asset cost - Salvage value ) / Useful life 

Q: Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions. May 11...

A: To maintain track of financial transactions, journal entries are utilized. You create a journal entr...

Q: What is the capital recovery cost for a machine costing $504,000 with a life of 9 years and a salvag...

A: Capital recovery or equivalent annual cost =(P-S)(A/P,i,n) + S*I  , Where, P = investment S- salv...

Q: Sweet Company purchased equipment on January 1, 2018, for S28,000. Suppose Sweet Company sold the eq...

A: recording of journal entry for depreciation are as follows.

Q: your client, failed to record accrued salaries expense of P 50,000 as of December 31, 2022.   Based...

A: Since you have posted question with multiple sub-parts , we will do the first three sub-parts for yo...

Q: Karla Tanner opened a Web consulting business called Linkworks and completed the following transacti...

A: The question requires us to prepare General Journal, General Ledgers' and Trial Balance in the Books...

Q: The partners in the Majesty partnership have agreed that partner Prince may sell his $150,000 equity...

A: Partnership is considered as an agreement between two or more partners, where partners are comes tog...

Q: Ocean Adventures issues bonds due in 10 years with a stated interest rate of 6% and a face value of ...

A: Issue price of bond is the present value of future cash inflows PV = PV of face value + PV of intere...

Q: 22. It uses the physical inventory system of accounting for your examination, you discovered that th...

A: Understatement of ending inventory results in higher cost of goods sold The net effect of the overst...

Q: Transcontinental Pipelines is considering a technical process that is expected to reduce annual main...

A: Annual saving (S) = $84000 Interest rate = 4.5% Effective annual rate (r) = [1+(0.045/4)]4-1        ...

Q: Fore Farms reported a pretax operating loss of $300 million for financial reporting purposes in 2021...

A: Journal entry is the first step in process of accounting which is recording the financial data in ch...

Q: What is the risk free return?

A: Rate of return is the return percentage which an investor gets from the money which has been investe...

Q: on CorporatIon is a manufacturing company that makes small electric motors it sells for $40 per unit...

A:

Q: Within the partnership, Jamestown's capital is $140,000, and Maryland's is $40,000. They share incom...

A: In case of multiple questions, we are allowed to solve only the first question. If you want other qu...

Q: 4. Mr. B is the owner of a hardware store. His ten wheeler truck is under going major repair. Mr. B ...

A: Note: Hi! Thank you for the question As per the honor code, We’ll answer the first question since th...

Q: a)Determine the value of the bonds. Assume an interest rate of 12% b)If the rates increase by 1%, w...

A:   Bond A B Par Value 100 100 Coupon Rate 10% 8% Rate of Interest 12% 12% Assume Maturity ...

Q: The Prepaid insurance was not recognized in year 2021. What is the effect of its omission in Prepaid...

A: Misrepresentation or error of prepaid expenses will have impact on both the balance sheet and the in...

Q: martinez company relevant range of production is 7500 units to 12500 units. When it produces and sel...

A: Solution..     Average Fixed manufacturing cost  at 10,000 units  Fixed manufacturing overhead costs...

Q: You are examining the financial statements of France Company for the year ended December 31, 2022. I...

A: The error in the financial statement given in the question is: Sales of P 120000 was recorded in 202...

Q: What is the difference between Direct and Indirect Financing?

A: Financing refers to raising of funds or capital from various sources. In this process, company borro...

Q: Required: Journalize the 2019 transactions for Olio Corporation

A: Olio Corporation is authorized to issue 800,000 shares of $5 par value common stock, and 100,000 sha...

Q: artinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and ...

A: The question is based on the concept of Cost Accounting. Fixed cost is the cost that remains the sam...

Q: Assume that you are one of the owners of Pinoy Corporation. Upon reviewing the project income statem...

A: The income statements are projected to forecast the profit in future years on the basis of estimatio...

Q: Sweet Company purchased equipment on January 1, 2018, for $28,000. Suppose Swee December 31, 2019. A...

A: Journal entries refer to posting of the transactions into the day book or accounts of company and it...

Q: What is the meaning of: a. 2/10, n/30: _____________________________________________________________...

A: The terms 2/10, n/30 & n/eom are used in the business while credit sales happen between the buye...

Q: The Malaysia debt as of today amounts to 12 trillion. This balloons with an interest rate of 0.16% y...

A:

Q: Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item availabl...

A: Inventory valuation is based on the flow of exemption used by the company. There are many methods fo...

Q: 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and g...

A: Weighted Average cost method refers to Total Cost of Goods available for sale is divided by it Numbe...

Q: Q1 A company is considering an investment proposal which has in investment outlay of RO 50,000. The ...

A: ANSWER ARR = 14.8 % CALCULATION OF ACCOUNTING RATE OF RETURN ( ARR ) INITIAL INVESTMENT = RO 50000 P...

Q: On January 1, 2024, Lanny, Inc. purchased a copyright for $410,000 cash. The copyright is expected t...

A: The Copyright is an intangible assets. Hence, will be amortized over the useful life of the assets. ...

Q: On January 1, 2019, Aspen Company acquired 80 percent of Birch Company's voting stock for $352,000. ...

A: Accruals are revenues or expenditures incurred that influence a company's net income on the financia...

Q: To more efficiently manage its inventory, Treynor Corporation maintains its internal inventory recor...

A: LIFO reserve = FIFO inventory - LIFO inventory FIFO , in first in first out inventory the inventory ...

Q: For each of the following separate situations, determine the amount of expense each company should r...

A: Formula: Monthly insurance expense = Total expense / Number of months in a year

Q: How much in dividends were paid to shareholders during the year? Assume that In its most recent fina...

A: Since you have asked multiple questions, we will solve the first question for you. If you want any s...

Q: According to GAAP, interest cost incurred to finance construction of an asset must be capitalized in...

A: As per US GAAP on Capitalised Interest, interest costs that are directly attributable to the acquisi...

Q: may you please help me with the following question thank you

A: These are the accounting transactions that are having a monetary impact on the financial statement o...

Q: 8. Alta Ski Company's inventory records contained the following information regarding its latest ski...

A:

Q: Beginning Work-in-Process is 3,350 units; 66,600 units completed, and ending Work-in-Process is 5,45...

A: 1.  

Q: Andres Michael bought a new boat. He took out a loan for $24,320 at 4.5% interest for 2 years. He ma...

A: Lets understand the basics. Here in this question, we are required to calculate how much amount is d...

Q: preciation example on page 7-7 of the VLN determine Activity based year 2 accumulated depreciation__...

A: Depreciation Expenses Calculation of Depreciation cost is important for the business which can be re...

Q: Jefrey Yang receives a bill of P30,500 dated January 13 with terms, 7, 5/10 and n/30. What cash disc...

A: As per payment terms,  Jefrey Yang will get 7% discount if paid immediately, 5% discount if paid wit...

Q: The outside basis is defined in the internal revenue code as a partner's basis in the partnership in...

A: True

Q: Silver Limited is a manufacturing company that produces furniture. To improve efficiency and usefuln...

A: Department refer to the section in a company which is assigned or handed over a particular role or f...

Q: Ukraine Company, your client, failed to record accrued salaries expense of P 50,000 as of December 3...

A:

Q: Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and...

A: Step2 in the solution. 

Q: Ms. Magan Dah and her sister, Ms. Supla Dah got into the cakes and pastries business almost by accid...

A: Earnings Before Tax also known as EBIT. It indicates profitability of any entity. It is calculated a...

Q: P-2. One of your first assignments at the world famous Pez Candy Company located in Milford, Connect...

A: Here, in this case, we are given 2 projects with different cash flows and different life. We will co...

Q: 5. A comparative balance sheet for Bill Industries is given below: Assets 20x2 20x1 Cash and cash eq...

A: Under the indirect method, the deferred tax will be adjusted to profit in the operating activities a...