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Pizza Napoli is a very successful restaurant that delivers pizza, salads, and hot sandwiches to customers in a medium-sized city that has a large public university. Pizza Napoli has four locations, one on each side of town (north, south, east, and west) in order to provide quick delivery (30 minutes or less or the customer gets $5 off) and delicious food to the majority of the city. Pizza Napoli’s owner, Maria, frequently generates and analyzes reports that give her information about her company's customers. Using these reports, Maria decides whether to change the menu items, prices, delivery areas, and so forth. She is able to gauge relative performance of the four store locations. Pizza Napoli has approximately sixty employees. Order clerks take customer orders over the telephone and instruct the cooks on what they need prepared. The cooks prepare the requested food and give it to the order clerks who package it for delivery. Delivery people take the final packaged orders to the customers' residences using company-owned delivery vehicles. Delivery people accept credit card, check, and cash payments. Delivery people return a copy of the delivery ticket along with the customer's remittance to the order clerk who records the payment using the company's electronic cash register. Each day’s receipts are totaled and Maria decides into which of Pizza Napoli’s bank accounts those receipts should be deposited.
(a) List the operating events and the decision and management events discussed in this example.
(b) Identify and discuss any risks associated with the events.
(c) Propose at least one or more internal controls that would mitigate the risks.
Complete the Journal Entries. Purchased Merchandise on account from Lingard Co., terms 2/10, n/30, FOB shipping point, $25,000. Sold merchandise for cash $90,000. The cost of the merchandise sold was $50,000
assume you are interviewing for a part-time accounting job at spilker amp associates inc. and the interviewer gives you
A bond has a 10.5 percent coupon rate, 8 years left to maturity, makes annual interest payments and is currently selling for $1070. What is its YTM? Use the trial and error method. Answer- First try? Why? Second try? Why? Using the calculator YTM=9.2..
The standard cost of Product B manufactured by MIT Company includes 2.40 units of direct materials at $5.20 per unit. During June, 27,400 units of direct materials are purchased at a cost of $5.09 per unit, and 27,400 units of direct materials are us..
How much gain or income will Bob recognize on his contribution of the land to the partnership? Illustrate what is the character of any gain or income recognized?
Define distributions to owners and provide examples of this type of transaction. Illustrate what financial statement element other than equity is typically affected by distributions?
Material are entered at the beginning of the process, Conversion costs are incurred uniformly during the process. Compute equivalent unit of production for materials and conversion costs for the month of July.
Evaluate the Cost of Job order costing system and The company made the following estimates at the beginning of the current year.
On January 1, a company issues bonds dated January 1 with a par value of $300,000. The bonds mature in 5 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for $3..
larkspur corp. manufactures bird feeders. it currently has two product lines the standard and the deluxe. larkspur has
Home Depot wants to make credit purchases from your company, with payment due in 60 days assuming you are a credit manager of a medium sized supplier.
The employee has offered to settle the lawsuit out of court for $900,000, but Steel will not agree to the settlement - In its December 31, year 2 balance sheet, what amount should Steel report as liability from lawsuit?
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