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Assume you are the auditor of Abel Web Design Company. Select four (4) expense accounts and suggest possible scenarios that could account for the variance between the actual and budgeted expenses. Where applicable, make recommendations to management for controlling the expenses.
Consider the following information when explaining to management possible reasons for the variance between the actual and budget income statement expenses:
The company has a December 31, 2015 fiscal year end.Sales staff is paid a 6% commission on sales.The insurance company increased the monthly insurance in October to $230.00 per month.
Problem 1: Mr. Abel is very disappointed that his actual expenses were more than $12,000 off what was forecasted. Can you make two recommendations as to how to improve upon this next year?
On January 2, 2012, Concord Corporation issued $1,700,000 of 10% bonds at 97 due December 31, 2021. Interest on the bonds is payable annually each December 31. The discount on the bonds is also being amortized on a straight-line basis over the 10 yea..
Bank A Offers loans at an 8% nominal rate (its APR) buat requires that interest be paid quarterly, that is, it uses quarterly compounding. Bank B wants to charge the same effective rate on its loans but it wants to collect interest on a monthly basis..
Estimate the ratio slide from the presentation (Let's Estimate some Ratios for Ruckman (GAAP)). Follow the presentation and complete the second table (Let's Estimate some Ratios for Ruckman (IFRS).
Pablo Management has five part-time employees, each of whom earns $250 per day.- Prepare the adjusting entry that would be recorded on Monday, December 31, 2013.
Issued $3,000,000 face value, 8% bond for $3,270,600. Interest is payable semiannually on December 1 and June 1 with the bonds maturing 10 years from this past December 1. The market effective interest rate is 6%. Prepare the journal entry for the in..
Calculate the annual compound growth rate of the house price since the house was sold to Mark and Ann Kington (since 2000) until the price
What would be the break-even EBIT for OKR Ltd? OKR Ltd is deciding to use two different capital structures to expand the business.
Mary Helu and Randy Adams recently graduated from the same university. After graduation they decided not to seek jobs at established organizations but, rather, to start their own small business hoping they could have more flexibility in their persona..
Company’s Bank statement shows a cash balance of $31,000, which is different from the one reported on the trial balance.
Gather data from The Wall Street Journal on interest rates for today's government securities of various maturities. Graph the yield curve.
The cost of goods sold is $5 for one skirt and $6 for one bluse. Other allocated costs are $1 for one skirt and $5 for one blusel. what amount of QPAI is available to Green for claculating the DPAD?
What are the total band cost and the cost per person if concert attendance is 5,000, 5,500, 6,000, 6,500, or 7,000? Is the cost of hiring the band a fixed cost
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