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At Morris Mart Inc., all sales are on account. Mary Morris-Manning is responsible for mailing invoices to customers, recording the amount billed, opening mail, and recording the payment. Mary is very devoted to the family business and never takes off more than one or two days for a long weekend. The customers know Mary and sometimes send personal notes with their payments. Another clerk handles all aspects of accounts payable. Mary's brother, who is president of Morris Mart, has hired an accountant to help with expansion. Required 1. List some problems with the current accounts receivable system 2. What suggestions would you make to improve the internal control? 3. How would you explain to Mary that she personally is not the problem?
sun instruments expects to issue new stock at 34 a share with estimated flotation costs of 7 percent of the market
if a company had net income of 1526875 a times interest earned ratio of 4 a tax rate of 25 and operating income of
find the accounts receivable may also be called trade receivables for wal-mart. how much is the net amount? this is the
there are two types conservative and aggressive so please give me the answers for both. conservative the end of period-
The beginning inventory is 300 units, the number of units set forth in the production budget, representing total production for the currentperiod, is?
Year 1 production nil. year 2 production 6000.3rd year 24000 4th year 60000 5th year 45000 prepare shortworkings accounts in the books of company for five years.
On September 1, 2005, Saturn Corporation's common stock was selling at a market price of $300 per share. On that date, Saturn announced a 3 for 2 stock split. At what price would you expect the stock to trade immediately after the split goes into ..
you have been hired as a consultant for pristine urban-tech zither inc. putz manufacturers of fine zithers. the market
Compute the issue price of the bonds on January 1, 2003. Provide the journal entry to record the issuance of the bonds on January 1, 2003. Provide the journal entry that Buster should make on December 31, 2003 assuming the effective interest method.
the transactions completed by franklin company during january its first month of operations are listed below. assume
Purple never used the land for any business purpose during the time it was owned by the corporation. What amount of loss can Purple Corporation recognize on the sale of the undeveloped land?
The individual accounting records
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