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You are an accountant at a local CPA firm that is auditing the accounting records of ABC Company. During your audit, you have identified that because of a weak internal control system, an adjusting entry for prepaid insurance was not recorded for the first 3 months of the year at $500 per month.Explain the impact of the missing journal entry on the financial statements of the company.
on january 2 2013 benson hospital purchased a 105164 special radiology scanner from picard inc. the scanner had a
survivor company was formed on january 1 2006 by selling and issuing 20000 shares of common stock at 15 per share. on
a department store has budgeted sales of 12000 mens suits in september. management wants to have 6000 suits in
on june 30 of the current year rural gas amp electric co. issued 50000000 face value 9 percent 10-year bonds payable
On January 1, 2010, Gucci Brothers Inc. started the year with a $500,000 credit balance in retained earnings and a $608,000 balance in common stock. During 2010, the company earned net income of $109,000, paid a dividend of $14,200, and issued mor..
Each coffee table produced by Robert West Designers nets the firm aprofit of $16. Each bookcase yields a $12 profit. How many tables should be produced each week?
medusa products uses a job-order costing system. overhead costs are applied to jobs on the basis of machine-hours. at
Discuss the nature of preventive controls that may be designed into an AIS. Give an example and explain how it may prevent fraud or abuse of the system.
in october 2010 rojo inc.s production was 53600 equivalent units for direct material 48800 equivalent units for direct
Steiner recliner purchased a delivery truck at the beginning of 2008. The truck cost $17,500 and is expected to last 5 years. Assume the truck has a salvage value of $1,000. Calculate the trucks depreciation using the double declining balance.
clem company issued 990000 10-year 4 percent bonds on january 1 2012. the bonds sold for 940000. interest is payable
on january 2 20x7 brian rein invested 10000 in the stock market and purchased 500 shares of heartland development inc.
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