Solution-How would the company be affected if the check is

How would the company be affected if the check is written

Reference no: EM132829580

On the last day of the fiscal year, a co-worker asks you to cut a check for $2,000 as a miscellaneous expense for supplies in order to complete a project for a VIP customer today. You notice the invoice looks a little different from other invoices that are usually processed. You know that by preparing the closing entries tomorrow, the miscellaneous expense will be set to zero for the beginning of the year.

Problem 1: Should an indivdual write this check today and record the expense or write the check tomorrow?

Problem 2: How would the company be affected if the check is written and the invoice ends up being erroneous?

Reference no: EM132829580

Questions Cloud

How is the sq3r method used for effective reading : How is the SQ3R method used for effective reading? Give a personal example in point form, that is, use of each point of SQ3R method to be described separately.

What research question did the authors set out to answer : What research question did the authors set out to answer? What type of bias is inherent to the study design used in the study?

Analyze thomas project performance on project : Analyze Thomas's project performance on this project, assuming the original quote given to the customer was an estimate.

What is the basic government structure : What is the basic government structure? Analyze the nature of organized crime in the assigned area (you may narrow the scope of your analysis through your).

How would the company be affected if the check is written : On the last day of the fiscal year, How would the company be affected if the check is written and the invoice ends up being erroneous?

Identify opportunities for improvement : In order to identify opportunities for improvement, as well as to meet and exceed regulatory requirements in any healthcare organization,

Describe the context approach and the cluster approach : What is outsourcing? Provide a detailed example.? Describe the context approach and the cluster approach to understanding cultural differences.?

Calculate the total cost including allocations : Amy's Binders produces and sells both custom and ordinary binders. Calculate the total cost, including allocations, of each of the two operating departments

Developing infection control guidelines : The Centers for Disease Control (CDC-non-regulatory) has played a major role in developing infection control guidelines/recommendations,

User Account

All Pages

How would the company be affected if the check is written

Reference no: EM132829580

Reference no: EM132829580

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

Disadvantages relative to revenue sharing

Prepare the journal entries to record payment of salaries

How do you think the value of these brands is reported

Why do companies make investments in other companies

Calculate sycamore taxable income

What are the cash flows from operating activities

Which criterion of liability be classified as non-current

What is the npv of the opportunity

What is meant by journalize transactions

What is the face value of the bond

How much profit did you earn on the sale

Post the balance from the unadjusted trial balance

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT