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Osakwe, an enterprising student, has set up an internship clearing house for business students. Each student who uses the service fills out a form and lists up to 10 companies that he or she would like to have contacted. The clearing house has a choice of two methods to use for processing the forms.
The traditional method requires about 20 minutes to review the form and arrange the information in the proper order for processing. Once this set-up is done, it takes only two minutes per company requested to complete the processing.
The other alternative uses an optical scan/retrieve system, which takes only a minute to prepare but requires five minutes per company for completing the processing. If it costs about the same amount per minute for processing witheither of the two methods, when should each be used?
Vance Company's balance sheet reported assets of $11,900, liabilities of $4,500 and common stock of $1,600 as of December 31, 2010. If Retained Earnings on the December 31, 2011 balance sheet is $9,000 and Vance paid a $2,000 dividend during 2011, th..
It wasn’t until the monthly payroll reports were sent to Ken’s supervisor that the error was detected. Ken refused to return the four extra checks. Illustrate what actions should the company take?
Define in your own words the character trait that you selected and what it means to you in terms of appropriate business and professional conduct.
Explain what you would do in the situations described below, and identify two internal control problems that exist in each situation.
Compute the sales tax amount and prepare journal entries necessary to pay this. Toys, Inc., sells merchandise in a state that has a 5 percent sales tax. Rather than record sales taxes collected in a separate account, the company records both the sale..
Impact of irresponsible policy changes by management. The most effective way to make sure of that freedom - obtain appropriate support from a health, safety and environmental professional for the engagement.
What is the amount of property and equipment on the balance sheet for the two most recent years? What is the amount of depreciation expense? What amounts are on the cash flow statement for the most recent year that relate to depreciation, gains and s..
What is the companys net income for the year ending December 31, 2010 and financial statements of Dinkel Company for the year ending December 31, 2010
FINANCIAL ACCOUNTING PRACTICE (BBAC301). The ledger of Daniel Penny, Financial consultant, contains the following account balances on 30th June 2015 and additional information for adjusting accounts. You are required to: Prepare the income statem..
Shin Company has a loan agreement that provides it with cash today, and the company must pay $25,000 4 years from today. Shin agrees to a 6% interest rate. The present value factor for 4 periods, 6% is 0.7921. What is the amount of cash that Shin..
Under a modified wage plan, an employee earns $1.50 for each finished unit and is guaranteed $18 per hour as a minimum wage. If the daily quota is 96 units, on a particular day when an employee completes 90 units and works 8 hours, the amount of the ..
Phil believes the restaurant could greatly improve its profitability by reducing the complexity and selling price of its entrees to increase the number of clients that it serves. It would then more heavily market its appetizers and beverages.
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