The following data were provided by Mystery Incorporated for the year ended December 31: Cost of Goods Sold Income Tax Expense Merchandise Sales (gross revenue) for Cash Merchandise Sales (gross revenue) on Credit Office Expense Sales Returns and Allowances Salaries and Wages Expense equired: Prepare a multistep income statement for external reporting purposes. $ 160,000 16,290 230,000 40,000 18,500 6,750 38,200

UnderCover Ltd sells and supplies security and surveillance equipment and other spyware, and also provides related services.              The accountant of UnderCover Ltd is currently preparing its financial reports for the year ended 30 June 2020. The company is a reporting entity. The reports have not been completed as at 11 August 2020. Required: Explain (with reasons) in your own words how and where (including class/category where applicable) each of the events/transactions described below would be treated, recognised and/or disclosed in the financial reports of UnderCover Ltd for the year ended 30 June 2020.  Note: You need to consider whether information about the event or transaction needs to be presented separately. Journal entries and actual disclosure notes are not required. On 6 July 2020, the government announced new regulations relating to the sale and use of drones (i.e. unmanned aerial vehicles). Part of the new regulations require that from 1 September 2020, drones can…

The audit report date on a standard unmodified opinion audit report indicates A. the last day of the fiscal period. B. the last day of the auditor's responsibility for the review of significant events that occurred after the date of the financial statements. O C. the date on which the financial statements were filed with the Securities and Exchange Commission. D. the last date on which users may institute a lawsuit against either the client or the auditor.

S1: Material misstatements that are discovered by the auditor are accumulated on "passed adjusting journal entries" working paper. S2: In dual dating, the report is redated and review procedures are extended to the date of the event.    a. BOTH STATEMENTS ARE TRUE b. BOTH STATEMENTS ARE FALSE c. ONLY S1 IS TRUE d. ONLY S2 IS TRUE