Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
For each of the following independent situations, indicate the apparent internal control weaknesses and suggest alternative procedures to eliminate the weaknesses.
1. John Smith is the petty cash custodian. John approves all requests for payment out of the $200 fund, which is replenished at the end of each month. At the end of each month, John submits a list of all accounts and amounts to be charged and a check is written to him for the total amount. John is the only person ever to tally the fund.
2. All of the company's cash disbursements are made by check. Each check must be supported by an approved voucher, which is in turn supported by the appropriate invoice and, for purchases, a receiving document. The vouchers are approved by Dean Leiser, the chief accountant, after reviewing the supporting documentation. Betty Hanson prepares the checks for Leiser's signature. Leiser also maintains the company's check register (the cash disbursements journal) and reconciles the bank account at the end of each month.
3. Fran Jones opens the company's mail and makes a listing of all checks and cash received from customers. A copy of the list is sent to Jerry McDonald who maintains the general ledger accounts. Fran prepares and makes the daily deposit at the bank. Fran also maintains the subsidiary ledger for accounts receivable, which is used to generate monthly statements to customers.
Philly Corp's stock recently paid a dividend of $2 per share (Do = $2), and the stock is in equilibrium. The company has a constant growth rate of 5% and a beta of 1.5. The required rate of return on the market is 15%
question 1 the steps of the operating cycle for a retailer usually take place in which order?1.purchases of merchandise
ROGER'S DILEMMA: A Situational Examination of Ethical Behavior in the Presence of Internal Control Deficiencies Due Monday of Week 12.
Explain the relationship between Section 401 of the Sarbanes Oxley Act and the concept of transparency.
on january 2 2010 ubuy.com paid 100000 to acquire 25 percent 10000 shares of the com- mon stock of e-net corporation.
The board of directors declared and paid a $2,000 dividend in 2009. In 2010, $12,000 of dividends are declared and paid. What are the dividends received by the common stockholders in 2010?
Mr. Z has asked your advice concerning which option would be most advantageous to him from an after-tax point of view. Prepare a brief memorandum in which you explain which alternative you would recommend and why.
Using the data above, compute pension expense for Webb Corp. for the year 2010 by preparing a pension worksheet.
How many units must be sold to break even if variable selling costs are $2 per unit, variable production costs are $31 per unit, and total fixed costs
Indicate the affect of the misstatement on Gentry Supplies Company's balance sheet and income statement for the year ended December 31, 2009.
Lendlease Company was established in 1958 by G K Dick with the object to run the company in a profitable and ethical manner. This Construction Company is one of the Largest Listed Multinational Companies in Australia. It is a much diversified company..
a dairy allocates the cost of unprocessed milk to the production of milk cream butter and cheese. for the current
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd