Illustrate which procedure will not prevent or detect

Assignment Help Financial Accounting
Reference no: EM13127632

The accounts receivable clerk destroys all invoices for sales made to family and friends and does not record the sales in the accounts receivable subsidiary ledgers. The family and friends usually give the clerk cash as a"thank you". Which procedure will not prevent or detect this fraud?

Reference no: EM13127632

Questions Cloud

Compute the unit contribution margin : Coastal Carolina Company produces a single product. the projected income statement for the coming year, based on sales of 100,000 units, is as follows: Sales 2,000,000 Less:Variable costs 1,000,000 contribution margin 900,000 less: fixed costs 765..
Power series representations : integral over gamma of e^(iz) / z^2 dz, where gamma(t) = e^(it), 0=
Professional services and banking : A CPA firm was purchased by a public company. The acquirer performs other professional services and has banking, insurance, and brokerage subsidiaries.
What is a passive activity : What is a Passive Activity? Why is there an active rental exception? How do you carry over/allocate rental losses? Why were these rules adopted? Should we have these rules?
Illustrate which procedure will not prevent or detect : The family and friends usually give the clerk cash as a"thank you". Illustrate which procedure will not prevent or detect this fraud?
How much heat (in ) is required : How much heat (in ) is required to warm 12.0 g of ice, initially at -11.0 degrees C, to steam at 111.0 degrees C? The heat capacity of ice is 2.09 and that of steam is 2.01 J/gC.
Write conclusion for this essay on distrust : write conclusion for this essay on Distrust
Compute the entropy change that occurs : Calculate the entropy change that occurs when 3.5 moles of an ideal gas expands from 1.75 L at 20 degress Celsius to 8.46 L at .54 atm.
Probability-female students-male students will be selected : Students from the class for an oral exam, what is the probability that 3 female students and 5 male students will be selected?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Determine the estimated allowance for doubtful accounts

The Draber Company uses the allowance method based on the aging method to determine the estimated allowance for doubtful accounts- Given the above information, determine the estimated allowance for doubtful accounts at the end of the period.

  Identification of several factors of materiality

Identification of several factors of materiality and Identify several factors considered by an accountant in deciding whether an item is "material."

  Using the deferral method, prepare a statement of revenues

Using the deferral method, prepare a statement of revenues and expenses and a statement of changes in net assets for Wise Owls for 20X1.

  Find the effective annual rate

Calculating Annuity Present Value, EPR & Annual Percentage Rate - What rate should the shop report? Find the effective annual rate?

  Find the net service credit and debit

Does Triton owe the bank the amount you have calculated for the net service credit/(debit), or can it carry this amount forward to offset future shortfalls?

  Determine the revenue and cost for each client

Computing the revenue and cost of two clients using the data given - determine the revenue and cost for each client.

  Effect of accrued interest on financial statements

Evaluate interest expense would be reported on the 2012 income statement? Determine total liabilities would be reported on the 31 st December, 2012, balance sheet?

  Illustrate what is total amount of other financing source

Illustrate what is the total amount of other financing sources to be recognized on the fund-based financial statements over this six-year period?

  Determine the costs per equivalent unit for may

Finding  the equivalent units for materials and conversion - Determine the costs per equivalent unit for May?

  What was the net amount of bad debts

What was the net amount of bad debts expense recognized through the year?

  Determining the transfer price

Recommend a transfer price and describe your reasons for choosing that price and determining the transfer price.

  Draft a one-half page memorandum to terrio

Company owner Abel Terrio has reviewed the 2011 financial statements you prepared for Jackson Company as accountant, and questions the $6,000 loss reported on sale of its investment in Blackhawk Co. common stock - Draft a one-half page memorandum t..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd