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Question: Cantu Company is a rapidly growing start-up business. Its recordkeeper, who was hired nine months ago, left town after the company's manager discovered that a large sum of money had disappeared over the past three months. An audit disclosed that the recordkeeper had written and signed several checks made payable to her fiancé and then recorded the checks as salaries expense. The fiancé, who cashed the checks but never worked for the company, left town with the recordkeeper. As a result, the company incurred an uninsured loss of $84,000. Evaluate Cantu's internal control system and indicate which principles of internal control appear to have been ignored.
what is the correct journal entry to record direct labor when the actual labor mix is favorable and the total standard
Brown Company has $30,000 of ending finished goods inventory as of December 31, 2008. If beginning finished goods inventory was $25,000 and cost of goods sold was $40,000, how much would Brown report for cost of goods manufactured?
on may 31 2010 james logan company had a cash balance per books of 6781.50. the bank statement from farmers state bank
the following information was made available from the income statement and balance sheet of lauren company.item 123110
Which of the following should be classified as an investing activity on a statement of cash flows?
determine the average rate of return for a project that is estimated to yield total income of 400000 over four years
in 200 words or more please review a public companys financial statements. comment on each account that you find in the
income tax was 303279 for the year. income tax payable was 26951 and 41632 at the beginning and end of the year.
Prepare all necessary journal entries for Adams for this lease through January 1, 2012.
Assuming that the weighted-average method is used for determining the inventory cost, including repossessed merchandise, prepare schedules computing for 2010, 2011, and 2012:
"Young people with little wealth should not invest money in risky assets such as the stock market, because they can't afford to lose what little money they have." Do you agree or disagree with this statement? Why?
Judgment in Context feature "Thor Industries, Inc. and Mark Schwartzhoff: Fraudulent Reductions in Cost of Goods Sold Through Manipulation of Inventory Accounts." Answer the fol- lowing questions.
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