Physical count of inventories

Assignment Help Accounting Basics
Reference no: EM13149780

Describe how the use of the audit software package and a copy of the inventory file data might be helpful to the auditor when observing the physical count of inventories as of a given date and test a sample for accuracy

Reference no: EM13149780

Questions Cloud

Determining the tax consequences : Josephine is considering taking a 6-month rotation in Paris for her job. Which type of authority may be especially helpful in determining the tax consequences of Josephine's job in Paris?
Exploding gases push the bullet down the barrel of the gun : A 9-mm Xian short-barrel experimental pistol is fired and the reacting, exploding gases push the bullet down the barrel of the gun. The pressure is recorded as the bullet accelerates to the exit.
What is the oc of cake for b also who will export shirts : Draw the PPFs for A and B when they work for 4 hours. What if the OC of shirt for A? What is the OC of shirt for B? What is the OC of cake for B? Who will export shirts? Why?
What will be value of the investments at end of that time : Thus, the second investment was $120, the third investment $140, and so on. If she continues series of investment 20 years, what will be the value of the investments at the end of that time?stock? d. None of the chemicals are in stock?
Physical count of inventories : Describe how the use of the audit software package and a copy of the inventory file data might be helpful to the auditor when observing the physical count of inventories as of a given date and test a sample for accuracy
What phase or phases are present when energy is removed : What phase or phases are present when 250. kJ of energy is removed from this sample? Specific heat capacities:
Determine the amount of the pbo : During 2009, pension benefits paid were $40,000. The discount rate for the plan for this year was 10%. Service cost for 2009 was $80,000. Plan assets (fair value) increased during the year by $45,000. Required: Determine the amount of the PBO at D..
What is soroush income elasticity of demand for good : What is Soroush’s income elasticity of demand for Good 1? C. What is Soroush’s income elasticity of demand for Good 2?
Journal entries to record transaction-perpetual inventory : Berry Corporation pays 6% for its borrowed funds. Flynn Company, however, pays 8% for its borrowed funds. The product sold is carried on the books of Berry at a manufactured cost of $570,000. Assume Berry uses a perpetual inventory system.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What tasks in medisoft found to be most challenging

What tasks in Medisoft have you found to be the most challenging so far, and why? How did you overcome these challenges?

  Company total manufacturing costs

Winter Company incurred direct materials costs of $500,000 during the year. Manufacturing overhead applied was $150,000 and is applied at the rate of 75% of direct labor costs. Winter Company's total manufacturing costs for the year was:

  Budgeted tuition revenue for the upcoming academic year

What is the budgeted tuition revenue for the upcoming academic year ? How many faculty members will be needed to teach classes in the upcoming year ?

  Ebit roa-roa and roe

Their net profit margin for the year was 20 percent, while the operating profit margin was 30 percent. What are Cisco's net income, EBIT ROA, ROA, and ROE?

  Discuss whether the modification costs would qualify

Green Corporation made extensive modifications to a portion of a building so that it could be used to conduct product research. Discuss whether the modification costs would qualify as research and experimental expenditures.

  What proceeds does mayberry receive from the investors

Mayberry Gas Corp. sells $200,000 of bonds to private investors. The bonds are due in five years, have an 8% coupon rate, and interest is paid semi-annually. The bonds were sold to yield 6%. What proceeds does Mayberry receive from the investors?

  Result of the error and salvage value

Kentucky Enterprises purchased a machine on January 2, 2010, at a cost of $120,000. An additional $50,000 was spent for installation, but this amount was charged erroneously to repairs expense. The machine has a useful life of five years and a sal..

  Landscape designs for the customers

Collins Landscape Company purchased various landscaping supplies on account to be used for landscape designs for their customers. How will this business transaction affect the accounting equation?

  Production cost information

Consider the production cost information for Santiago's Salsa in Problem 1-1. The company is currently producing and selling 325,000 jars of salsa annually.The jars sell for $5.00 each. The company is considering lowering the price to $4.60. Suppo..

  Quantity materials variances problem

Compute price, and quantity materials variances for Tile Company for March. Indicate amount ($) and favorable (F) or unfavorable (U) effects.

  First installment payment-principal balance

Buffon Electronics Company issues a $1,000,000, 10%, 20-year mortgage note on January 1. The terms provide for semiannual installment payments, exclusive of real estate taxes and insurance, of $58,276. After the first installment payment, the prin..

  Financial impact of buying ct unit

The user has updated the question: User's response: Calculate the financial impact of buying a CT unit that would cost $3.0 million, would have a five-year useful life, would have a 10 percent salvage value.

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!

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