User Account

All Pages

Company personnel erroneously recorded a sales transaction

Assignment Help Accounting Basics
Reference no: EM13111679

Describe what is likely to occur if company personnel erroneously recorded a sales transaction for the wrong customer. What if a cahs receipt were applied to the wrong customer? Identify Internal control that would detect or prevent thid from occurring.

Reference no: EM13111679

Questions Cloud

Which membrane transport mechanism is in eukaryotic cell : Which membrane transport mechanism is found in eukaryotic cells.
Hypothesis testing for red blood cell volume : Medical Red Blood Cell Volume. Total blood volume (in ml) per body weight (in kg) is important in medical research. For healthy adults, the red blood cell volume mean is about = 28ml/kg.
Nonlinear adsorption isotherms for metals : A peat soil was found to have the following Langmuir constants for the adsorption of heavy metals. Using the nonlinear Langmuir equation above, show the equations and plot the nonlinear adsorption isotherms for the three metals
Standard deviation and hypothesis testing-shopping time : Shopping time: House wares. How much customers buy is a direct result of how much time they spend in a store. The mean shopping time for women accompanied by children in national house wares stores is 7.3 minutes.
Company personnel erroneously recorded a sales transaction : Describe what is likely to occur if company personnel erroneously recorded a sales transaction for the wrong customer. What if a cahs receipt were applied to the wrong customer? Identify Internal control that would detect or prevent thid from occurri..
Hypothesis testing-college athletics : College Athletics: Graduation Rate. Women Athletes at the University of Colorado Boulder have a long term graduation rate of 67%. Over the past several years, a random sample of 38 women athletes at the school showed that 21 eventually graduated.
Hypothesis testing- fishing northern pike : Fishing Northern Pike. Athabasca Fishing Lodge is located on Lake Athabasca in northern Canada. In one of its recent brochures, the lodge advertises that 75% of its guests catch northern pike over 20 pounds.
Suppositions for distribution of lifetimes of light bulbs : Assume that the random sample of 200 light bulbs has mean life of 635 hours and standard deviation of 48 hours. Before applying Empirical Rule, what suppositions requires to be made about distribution of lifetimes of light bulbs?
Determining osha permissible exposure limits : Suppose that the solvent ethanol could serve to replace the methanol in this process, but at the expense of double the concentrations of the solvent in the atmosphere.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Annual cash outflow for operating costs

Jim Bingham is considering starting a small catering business. He would need to purchase a delivery van and several equipment costing $125,000 to equip the business and another $60,000 for inventories

  Diluted eps and securities

Sabonis Corporation reported net income of $400,000 in 2008 and had 50,000 shares of common stock outstanding throughout the year.

  Sarbanes-oxley act-prevention detection

Summarize your ideas about internal controls. An introduction to internal controls, explaining in your own words the two primary goals of internal control. A description of how the Sarbanes-Oxley Act of 2002 has affected internal controls

  Journal entries for tax transactions

Prepare journal entries(excluding budgetary and closing entries) to record the following property tax related transactions in which the country engaged in 2007 and 2008.

  Tax effect of rental use

Kristen's AGI is $120,000 before considering effect of rental activity. What is Kristen's AGI after considering the tax effect of rental use of her home?

  Anticipated revenue and estimated rate of return

The XYZ has a choice between two warehouses. A lease at location A costs 1000 per month with a payment 2000 upfront to guarantee the 3 year lease. Location B would cost 1200 per month and would be leased from month to month.

  Pension plans-overtime pay-basic wages

What are four safeguards that the ERISA legislation specified to address the many obstacles employees faced with pension plan funding? How did the Pension Protection Act add additional requirements to the protection of these plans?

  Preferred shareholders-common stockholders

What amount of dividends must the company pay the preferred shareholders in 2009 if they wish to pay the common stockholders a dividend?

  Describe the discrepancy between diamond foods

Describe the discrepancy between Diamond Foods, Inc.'s description of payments to walnut growers and what the farmers themselves say the payments are for

  Journal entries for insurance-interest and payment

On December 1, 2007 Gates Company borrowed $45, 00 cash from FirstBank on a 90-day, 9% note payable. Prepare Gate's general journal entry to record the insurance of the note payable.

  Preparation of classified balance sheet using given data

Preparation of classified balance sheet using given data, From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.

  Income under absorption costing

During the year just ended, Kerry Company's income under absorption costing was $3,000 lower than its income under variable costing.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd