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Describe how the separation of (1) authorization of production transactions, (2) recording of these transactions, and (3) physical custody of inventories can be specified among the production, inventory, and cost accounting departments. How does the production order document provide a control over the quantity of materials used in production? From what population of documents would an auditor sample to determine (1) whether all are authorized, (2) production was completed and placed in inventory or written off as scrap, and (3) finished goods inventory was actually produced and properly costed?
younger corporation purchased a one-year insurance policy in january 2009 for 36000. the insurance policy is in effect
you invest an amount a into an account at time0. the account is governed by a constant force of interest equal to
Grossman Products began operations in 2013. The following selected transactions occurred from September 2013 through March 2014. Grossman's fiscal year ends on December 31.
a companys current net operating income is 26000 and its average operating assets are 148000. the companys required
At that time, it was estimated that the dining room set could be sold for $2,400 as repossessed, or for $3,000 if the company spent $300 reconditioning it. The gross profit rate on this sale was 70%. The gain or loss on repossession was a
Each literature review must be backed up by 5-10 articles, booksm journals and referenced.
yengling companys payroll for the year is 593150. of this amount 211630 is for wages paid in excess of 7000 to each
the chart of accounts is many times described in financial accounting as the central element of a general ledger
holvey company makes three products in a single facility. data concerning these products follow the mixing machines are
Company acquires a delivery truck at a cost of $28,000 on January 1, 2009. The truck is expected to have a salvage value of $3,000 at the end of its 5-year useful life. Compute annual depreciation for the first and second years using the straight-..
may 1 invested 20000 cash in the golf course business. may 3 purchased hampstead golf land for 15000 cash. the price
on december 31 2013 perry corporation leased equipment to admiral company for a five-year period. the annual lease
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