User Account

All Pages

Stored in a safe in the treasurer office

Assignment Help Accounting Basics
Reference no: EM13949751

Brief Exercise 8-5 Mingenback Company has the following internal control procedures over cash disbursements.

Identify the internal control principle that is applicable to each procedure.

1. Company checks are prenumbered.
2. The bank statement is reconciled monthly by an internal auditor.
3. Blank checks are stored in a safe in the treasurer's office.
4. Only the treasurer or assistant treasurer may sign checks.
5. Check signers are not allowed to record cash disbursement transactions.

Reference no: EM13949751

Questions Cloud

A letter to the president of staley company : Staley uses a periodic inventory system. The inventories at January 1, 2008, and December 31, 2009, are correct. However, the ending inventory at December 31, 2008, was overstated $5,000.
Calculate the break-even number of units : Calculate the break-even number of units. Calculate the break-even sales revenue. Calculate the margin of safety in units. Calculate the margin of safety in sales dollars.
Amount of water vapor condensed : Determine for AF 5 15 and T 5 708F, the percent excess air and the amount of water vapor condensed, in lb per lbmol of fuel. Plot the amount of water vapor condensed, in lb per lbmol of fuel, versus T ranging from 70 to 1008F, for AF 5 15, 20, 25, 30..
Draw the fdd from the fd given below : A Course is presented in one or more classrooms, on prescribed days and times
Stored in a safe in the treasurer office : Brief Exercise 8-5 Mingenback Company has the following internal control procedures over cash disbursements. Identify the internal control principle that is applicable to each procedure.
Combustion with the theoretical amount of air : A sample of dried Appanoose County coal has a mass analysis of 71.1% carbon, 5.1% hydrogen (H), 9.0% oxygen (O), 1.4% nitrogen (N2), 5.8% sulfur, and the rest noncombustible ash. For complete combustion with the theoretical amount of air, determin..
Interpret the results of the wilks test : Find the mean vector and covariance matrix for each of the three treatments. Does there appear to be differences between the treatments and do you think that the assumption of equal variances is sensible?
The nominal exchange rate : Over a period of time, Alexis (a U.S. resident) notes that the nominal exchange rate (USD/EUR) has decreased by 3%, the price level in the Eurozone has increased by 5%, while the price level in the United States has increased by 6%. Compute the chang..
Identify a business that is bringing shalom to a city : Identify a business or other organization that is bringing Shalom to a city, region, or even nations through its activities in the marketplace.

Reviews

Write a Review

Accounting Basics Questions & Answers

  King cones leased ice cream-making equipment from liang

king cones leased ice cream-making equipment from liang leasing. liang earns interest under such arrangements at a 6

  On the advice of her estate planner grace made taxable

on the advice of her estate planner grace made taxable gifts of 5 million in 2011. grace dies in late 2013 leaving a

  Determine the amount of interest to be capitalized

Determine the amount of interest to be capitalized in 2010 in relation to the construction of the building.

  Calculate the breakeven point for each option

The fixed costs directly associated with Springfield's nursing division were estimated to be $9,000 a month for rent and other expenses. The variable costs of supplies (measured on a per-visit basis) were expected to be $30. Mr. Hoover believed th..

  Net income and comprehensive income

Murphy Co. had 200,000 shares outstanding of $10 par common stock on March 30 of the current year. Murphy reacquired 30,000 of those shares at a cost of $15 per share and recorded the transaction using the cost method on April 15.

  Muscle construction signs a contract to build a classroom

muscle construction signs a contract to build a classroom addition for smallville high school. the total price for the

  Detailed explanation of equivalent units

Griffith Company started its production operations on July 1. During July, the silk-screening department completed 15,600 units. There were 2,400 units in ending inventory which were 75% complete with respect to materials and 20% complete with res..

  Griffiths president has asked why you use one method for

griffith delivery services purchased a delivery truck for 33600. the truck has an estimated useful life oif six years

  What should we consider next

if a loss contingency is probably or estimable but not both, what should we consider next? What must we disclose to the readers of the financial statements?

  Compare the advantages of using the retail method

High-volume retailers generally use the retail method for valuing inventories Instead of the various cost methods. Identify and evaluate the conditions that may distort the results under the retail method.Compare the advantages of using the retail..

  Required rate of return for gamma limited

Gamma Ltd is not expecting to pay dividends for three years, at the end of year four, a dividend of $2.00 is planned and dividends are expected to be constant forever after that. The required rate of return for Gamma Ltd equity is 14% pa.

  Number of fish caught during a fishing tournament

a. the number of textbook authors now sitting at a computer b. the weight of a T-bone steak

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