Under the Sarbanes-Oxley Act of 2002, chief financial officers must certify the accuracy of information in corporate financial statements and reports that are filed with the Securities and Exchange Commission
Indicate whether the statement is true or false
T
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On January 1, 2016, the Mills Car Repair Company acquired equipment at a cost of $55,000. At that time, the equipment was estimated to have a residual value of $5,000 at the end of an estimated five-year service life. During 2016 and 2017, the company recorded straight-line depreciation on the equipment.
Required: Prepare all the journal entries for 2018 relating to the equipment for each of the following independent situations (ignoring income taxes): ? a. Assume that the company switched to sum-of-the-years'-digits depreciation at the beginning of 2018 with a new estimated remaining life of four years. b. Assume, instead, that at the beginning of 2018, the equipment is determined to have a five-year remaining service life. Straight-line depreciation will still be used. c. Assume, instead, that at the beginning of 2018 the company discovered that it had erroneously ignored the estimated residual value in the computation of its depreciation for 2016 and 2017. What will be an ideal response?
As part of the rapid globalization of today's economy, companies are selling more domestically-produced goods in international markets and ________
A) taking a local view of their industry B) purchasing more supplies abroad C) reducing competition within their industry D) downplaying concerns for social responsibility E) competing solely in traditional marketplaces
Matching
Column 1 Column 2 1. Bailiff a. A person who records (electronically or stenographically) the testimony that takes place during theopen court proceeding 2. Court clerk b. An individual who is responsiblefor the safety of the judge and fororder within the courtroom 3. Court reporter c. A court employee who assists the court and the judge by filing documents, marking and safeguardingevidence, reviewing documents that are submitted to the judge, and performing other similar tasks 4. Lawyer d. A judicial officer who is appointed by the President and subject to approvalby the Senate 5. Judge e. An individual who is authorized by a state to practice law
An important improvement of XML Schema over DTDs is that XML Schema are ________
Fill in the blank(s) with correct word