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!
Point 1: The case presented here is based on an actual situation. Centennial Construction Company, headquartered in Dallas, Texas, built a Rodeway Motel 35 miles north of the city. The construction foreman, Slim Chance, hired 40 workers to complete the project. Slim had the construction workers fill out necessary tax forms and sent these documents to the home office.
Point 2: Work on the motel began on April 1 and ended September 1. Each week, Slim filled out a timecard for hours worked for each employee during the week. Slim faxed the timecards to the home office, which prepared payroll checks every Friday morning. Slim drove to the home office on Fridays, picked up the paychecks, and returned to the construction site. At 5 pm each Friday, Slim distributed the paychecks to the construction crew.
Question 1: Describe the internal control weakness in the situation. Specify what negative result(s) might occur as a result. Please advise on how you would correct the internal control weakness
When a buyer returns merchandise purchased for cash, the buyer will record the transaction as a debit to Merchandise Inventory; a credit to Cash debit to Cash; a credit to Sales debit to Cash; a credit to Merchandise Inventory debit to Sales; a credi..
December 31, 2008, amounts owed to publishers for books purchased, $8,000; one-year note payable to a local bank for $2,850. No dividends were declared or paid to the stockholders during the year - complete the balance sheet at December 31, 2009.
cumulative gross earnings, including overtime pay, of $92,000 prior to this pay.
Prepare a classified balance sheet for Jason's Hardware Corporation. Business application- Compute Jason's Hardware's current ratio and debt to equity ratio.
On January 1, 2012, Siena Corporation purchased 2,000 shares of treasury stock. Other information regarding Siena Corporation is provided below.
One client gave the company a computer with a retail price of $2,500 and a fair market value of $2,000 in exchange for accounting services. Based on these facts, what is the company's gross income for the year
Cost Accumulated Depreciation Cash Proceeds Fair Market Value Nature of disposition. Land: On February 15, a condemnation award was received as consideration for unimpoved land held primarily as an investment, and on March 31, another parcel of unimp..
how should the bank manager adjust the bank's maturity gap to take advantage of this anticipated increase? What if the manager believes rates will fall?
The company recently announced a new plan to manufacture a dual purpose propane/charcoal BBQ conversion kit. Cost and sales data for the first month of operations April
Lino's 1992 net income is $150,000. What amount should Lino include as net cash provided by operating activities in the statement of cash flows? Show supporting calculations.
Which of the following would be least likely to be used as an allocation base in a company that applies a single plantwide rate? A company's income is $73,000. Sales are 1,200,000 and ROI 17%, Find turnover and average total assets. A company's ROI i..
Northwest Paperboard Company, a paper and allied products manufacturer, was seeking to gain a foothold in Canada. Toward that end, the company bought 40% of the outstanding common shares of Vancouver Timber and Milling, Inc., on January 2, 2016, for ..
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