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Internal Controls are required to safeguard assets and to ensure ethical business practices. (1) Identify and explain the reason for any two of the five components of internal control (10 points) and (2) provide examples of how your two selected components of internal control will meet the goal of safeguarding assets and promoting ethical business practices.
An example of an economic entity is a:a. town. b. business. c. nonprofit hospital. d. church
How do you describe the continued existence of counter trade? Under what scenarios may its popularity increase still further by the year 2015?
What 3 items of important information does the income statement reveal about the financial performance of the company over the last three years?
Her purchase price is $6 for each box of discs and she has determined that storage costs for one year are 25 percent of thepurchase price. What is her approximate total ordering cost?
Suppose fixed- and variable-cost pools were allocated separately. Specify how each pool should be allocated. Compute the cost allocated to the Public Works Department in August.
Compute the budgeted profit at the expected volume of 600,000 units under both the old and the new production environments.
Prepaid rent at 1/1/10 was $20,000. During 2010 rent payments of $123,000 were made and charged to "rent expense." The 2010 income statement shows as a general expense the item "rent expense" in the amount of $122,000.
for the current year sheila jones had adjusted gross income of $100,000 during the year she contributed $6,000 to her church and a additional $3,000 to qualified charities.
1.During its first year of operations, the McCollum Corporation entered into the following transactions relating to shareholders' equity. The corporation was authorized to issue 170 million common shares, $1 par per share.
Instructions: Prepare the journal entries to record the transactions on April 1 and August 1, 2007.
Discuss the advantages and disadvantages of at least two (2) forms of business structures. Make a recommendation regarding the structure your friend or relative should use based on this particular venture.
Smith has decided to write off the franchise over the longest possible period. How much should be amortized by Smith Co. for the year ended December 31, 2008?
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