User Account

All Pages

Company personnel erroneously recorded a sales transaction

Assignment Help Accounting Basics
Reference no: EM13111679

Describe what is likely to occur if company personnel erroneously recorded a sales transaction for the wrong customer. What if a cahs receipt were applied to the wrong customer? Identify Internal control that would detect or prevent thid from occurring.

Reference no: EM13111679

Questions Cloud

Which membrane transport mechanism is in eukaryotic cell : Which membrane transport mechanism is found in eukaryotic cells.
Hypothesis testing for red blood cell volume : Medical Red Blood Cell Volume. Total blood volume (in ml) per body weight (in kg) is important in medical research. For healthy adults, the red blood cell volume mean is about = 28ml/kg.
Nonlinear adsorption isotherms for metals : A peat soil was found to have the following Langmuir constants for the adsorption of heavy metals. Using the nonlinear Langmuir equation above, show the equations and plot the nonlinear adsorption isotherms for the three metals
Standard deviation and hypothesis testing-shopping time : Shopping time: House wares. How much customers buy is a direct result of how much time they spend in a store. The mean shopping time for women accompanied by children in national house wares stores is 7.3 minutes.
Company personnel erroneously recorded a sales transaction : Describe what is likely to occur if company personnel erroneously recorded a sales transaction for the wrong customer. What if a cahs receipt were applied to the wrong customer? Identify Internal control that would detect or prevent thid from occurri..
Hypothesis testing-college athletics : College Athletics: Graduation Rate. Women Athletes at the University of Colorado Boulder have a long term graduation rate of 67%. Over the past several years, a random sample of 38 women athletes at the school showed that 21 eventually graduated.
Hypothesis testing- fishing northern pike : Fishing Northern Pike. Athabasca Fishing Lodge is located on Lake Athabasca in northern Canada. In one of its recent brochures, the lodge advertises that 75% of its guests catch northern pike over 20 pounds.
Suppositions for distribution of lifetimes of light bulbs : Assume that the random sample of 200 light bulbs has mean life of 635 hours and standard deviation of 48 hours. Before applying Empirical Rule, what suppositions requires to be made about distribution of lifetimes of light bulbs?
Determining osha permissible exposure limits : Suppose that the solvent ethanol could serve to replace the methanol in this process, but at the expense of double the concentrations of the solvent in the atmosphere.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Allocating partnership income

During its first year, the firm earned 249,000. Prepare the entry to close the firms income summary accounts as of its December 31 year end and to allocate the 249,000 net income to partners under each of the following separate assumptions:

  Price variance and quantity variance

Explain why the quantity purchased is used in computing the direct materials price variance, but the actual quantity consumed is used in computing the direct materials quantity variance.

  Prepare a schedule of cash collections

Prepare a schedule of cash collections for January, February, and March and for the quarter in total, Prepare a production budget for January, February, and March and for the quarter in total.

  Variable cost assessment

The MedView brochure said, "Only 45 scans per month to cover the monthly equipment rental of $18000." *The footnote at the bottom of the brochure read: *"Assumes a reimbursable fee of $475 per scan."

  Journal entry for the issuance

Prepare the journal entry for the issuance when the market price of the common shares is $ 168 each and market price of the preferred is 210 each. (Round to nearest dollar.)

  Valid appropriation

It is illegal for a government to spend money for any purpose unless a valid appropriation for that purpose exists. Does this legal rule assure good financial management for each government? Why or why not?

  Connection with consolidation of assest

What worksheet entries are needed in connection with the consolidation of this asset? Assume that the parent applies the partial equity method.

  Qualitative characteristics of relevance and reliability

Explain clearly why each of the qualitative characteristics discussed in the IASB conceptual framework is important. Which characteristic or characteristics do you think are the most important? Why?

  Forecasting recurring revenue

I understand that non-recurring items such as adjustments for changes in accounting methods, extraordinary gains/losses, income from discontinued operations, etc. must not be included. However, what items should I address?

  Global business management-how to write business plan

What are the critical components of a business plan? Consider any changes which would be required if the plan were to be used in the foreign country.

  Types and benefits and intricacies of rules

Tax rules are often very precise. For instance, a taxpayer must ordinarily provide "over 50%" of another person's support in order to claim a dependency exemption. Why is the threshold "over 50%" as opposed to "50% or more"? Explain in detail.

  Steps of accounting cycle

Can you please describe to me in detail the steps of the accounting cycle? please include references searched the solution library and need new information.

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