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Which of the following is an internal control activity that could prevent a paid disbursement voucher from being presented for payment a second time?
a. Vouchers should be prepared by individuals who are responsible for signing disbursement checks.
b. Disbursement vouchers should be approved by at least two responsible management officials.
c. The date on a disbursement voucher should be within a few days of the date the voucher is presented for payment.
d. The official who signs the check should compare the check with the voucher and should stamp "PAID" on the voucher documents.
Duncan Brooks, Co., needs to borrow $500,000 to open new stores. Brooks can borrow $500,000 by issuing 5%, 10-year bonds at a price of 96. How much will Brooks actually receive in cash under this arrangement? How much must Brooks pay back at matur..
Regency Corp. recently acquired $500,000 of the bonds of Safire Co., one of its subsidiaries, paying more than the carrying value of the bonds. According to the most practical view of this intra-entity transaction, to whom would the loss be attrib..
Moran corporation has these accounts at December 31:common stock,$12 par, 5150 shares issued,$61,800;paid in,capital in excess of par value $20,100, retained earning $42,360, and treasury stock-common, 510 share,$12,240. Prepare the stock holders ..
Glen and Michael are equal partners in Trout Enterprises, a calendar year partnership. During the year, Trout Enterprises had gross income of $400,000 and operating expenses of $220,000.
China is a manufacturing superpower. Assume that you are CFO of an automobile manufacturer looking to build a $U.S.800 million plant in China. You are discussing this project with your spouse, who is intelligent, but has no background in finance.
Suppose that Helen's marginal income tax rate is 28 percent. Compare her after-tax income and her group medical costs under three scenarios:
The flotation cost is 2% of the par value. Similar issues of preferred stock are currently providing a yield of 12%. What can the company expect to receive for each share of stock sold.
A US multinational is contemplating a production facility in the UK. The production will be sold locally in the UK. The cost of the facility is estimated at $100,000,000 USD. 100% of the project will be financed through parent equity. The US corpo..
At the end of the current year, Accounts Receivable has a balanced of $800,000; Allowance for Doubtful accounts has a debit balance if $2000; and Net Sales for the year total $2,200,000. Bad debt expense is estimated at 1/2 of 1% of net sales. Pre..
One employee earning $200 per month can be terminated if product B production is dropped. Clinton's other fixed costs are allocated and will continue regardless of the decision made. A condensed, budgeted monthly income statement with both product..
accounting objective questions, Which of the following is a cash flow from operating activities? A cash inflow from financing activities includes?
Set up the known information in a linear statement and find the missing cash sales by reversing the additive functions also complete an Accrual Income Statement.
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