Every winter, Bonnie’s Boutique hires 10 seasonal employees to work from November 15 through January 15. The workers are paid 25% of their total salary in November, 50% of their total salary in December, and the remaining 25% of their total salary in January. Bonnie’s Boutique recognizes all salary expenses related to these workers at the end of January. In this scenario, Bonnie’s hasA. violated the matching principle because this principle requires the firm to recognize 25% of the total salary expense in November, 50% in December, and 25% in January. B. has not violated GAAP because generally accepted accounting principles require that companies use accrual-basis accounting. C. violated GAAP because generally accepted accounting principles require that companies use cash-basis accounting. D. not violated the matching principle because this principle requires that all of the seasonal employees’ salary expenses be recognized in January, at the end of their employment period.

Jamie lee is reviewing her finances one month later. she has provided the actual amounts paid below. use the cash budget table below to her identify the variances in her budget. each answer must have a value for the assignment to be complete. enter "0" for any unused categories. actual amounts income: monthly expenses: gross monthly salary $2,315 rent obligation $260 net monthly salary $1,740 utilities/electricity $130 savings allocation: utilities/water $10 regular savings $130 utilities/cable tv $155 rainy-day savings $20 food $160 entertainment: gas/maintenance $205 cake decorating class $90 credit card payment $25 movies with friends $50 car insurance $75 clothing $145 budgeted amounts assets: monthly expenses: checking account $1,850 rent obligation $225 emergency fund savings account $4,300 utilities/electricity $75 car $5,200 utilities/water $35 computer & ipad $1,100 utilities/cable tv $120 liabilities: food $115 student loan $6,600 gas/maintenance $95 credit card balance $1,000 credit card payment $45 income: car insurance $45 gross monthly salary $2,155 clothing $45 net monthly salary $1,580 entertainment: savings allocation: cake decorating class $90 regular savings $130 movies with friends $50 rainy day savings $20

The following pertains to smoke, inc.’s investment in debt securities: on december 31, year 3, smoke reclassified a security acquired during the year for $70,000. it had a $50,000 fair value when it was reclassified from trading to available-for-sale. an available-for-sale security costing $75,000, written down to $30,000 in year 2 because of an other-than-temporary impairment of fair value, had a $60,000 fair value on december 31, year 3. what is the net effect of the above items on smoke’s net income for the year ended december 31, year 3?

Experienced problem solvers always consider both the value and units of their answer to a problem. why?