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Problem 1: To minimise the likelihood of bad debts, it is important to prepare reports documenting accounts receivable, debt recovery process, debt minimising process. List at least 4 key points how bad debts can be minimised by managing a well-documented debt recovery plan.
Problem 2: List at least 3 points that are correct practice to identify, investigate and rectify if you receive incorrect invoice from your supplier.
Recommend two actions that companies can take to prevent or detect intentional misstatements of liabilities for personal financial gain. Justify your response.
ABC Co. uses the effective interest method in amortizing discount and issue cost. What is the value of premium or discount on December 31, 2020
frontier sports sells hunting and fishing equipment and provides guided hunting and fishing trips. frontier sports is
Compute the gain or loss for D. Yeager Corp. and prepare a schedule of receivable reduction and interest revenue for the years 2010 through 2013.
The cash in bank is subject to a compensating balance of $5,000. What amount should Lipkus report as "Cash and cash equivalents" on its balance sheet
namo inc. is preparing its budget for the second quarter. the following sales data have been forecasted april may june
Suppose that Jack also reported income of $11,300 from a half share of profits from a partnership. Disregard any potential self-employment taxes on this income.
Your auditor's report for Data for the year ended 30 June 2018 was unmodified, Outline a defense for your audit firm to any legal action
Fennimore Company purchased a copyright from another company early in 2008 for $50,000. Fennimore had not amortized the copyright because its value had not diminished. The copyright has a useful life at purchase of 20 years.
Bought a piece of equipment costing $110,000, with a salvage value of $10,000. What is the new depreciation using SL method
A project costing $6,200 initially should produce cash inflows of $2,860 a year for three years. What is the net present value of project
This company has 500,000 shares authorized and 100,000 shares outstanding. Prepare the journal entries required on July and August
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