Problem on revenue and payroll cycles

Assignment Help Accounting Basics
Reference no: EM13144069

What internal controls components are commonly found among the revenue and payroll cycles? What components are unique to each cycle? - Answer 150-200 words.

Reference no: EM13144069

Questions Cloud

Determining recognized gain or loss on distribution : Pursuant to a complete liquidation, Oriole Corporation distributes to its shareholders land with a basis of $450,000 and a fair market value of $550,000. The land is subject to a liability of $600,000. What is Orioles's recognized gain or loss on ..
Revenue or payroll cycle at your organization : Describe the revenue or payroll cycle at your organization? What source documentation is used in the revenue and payroll cycles at your organization? - answer 150-200 words.
What is the equivalent weight of this metal : A.117 gram sample of a metal reacts with hyrdochloric acid to produce 36.3 ml of dry hydrogen gas, measured at STP. what is the equivalent weight of this metal?
Discuss the propriety of increasing the stated value : Explain why the book and fair values of the goodwill of Elson Corporation are different. Discuss the propriety of (a) increasing the stated value of goodwill prior to the negotiations and (b) eliminating goodwill completely from the balance sheet p..
Problem on revenue and payroll cycles : What internal controls components are commonly found among the revenue and payroll cycles? What components are unique to each cycle? - Answer 150-200 words.
Application of internal controls to systems : Identify all risks and internal control points by incorporating the controls and risks into the flowcharts. Design internal controls to mitigate risks to the systems. Evaluate the application of internal controls to the systems.
What was balance in the cash account at beginning of oct : the account was debited for a total of $4,250 and credited for a total of $5,340. What was balance in the Cash account at the beginning of October?
What would be the loss accrual : Sue Co. has a probable loss that can only be reasonably estimated within a range of outcomes. No single amount within the range is a better estimate than any other amount. The loss accrual should be:
Cumulative effect of this accounting change : At the beginning of 2007, a decision was made to change to the straight-line method of depreciation for this machine. Assuming a 30% tax rate, the cumulative effect of this accounting change, net of tax is?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare basic journal entries under proper accounting method

Big Co. acquired 1,000 shares of voting stock in Little Co. for $100,000 cash. Little Co. currently has 10,000 shares of voting stock issued and outstanding. Little Co.'s shares are trading at $115 per share. Big Co. subsequently receives a divide..

  Capital improvement phase of the project

The governing body of the Order decided that it was no longer feasible to operate the convent, which had been built about sixty years ago, so it was advertised locally for sale.

  What amount of loss should be reported on income statement

Nicole, Inc. uses IFRS for its external financial reporting. During 2011, an employee of the company was injured in the factory. Discussions with corporate attorneys resulted in a determinatin that the company would be required to pay between $1,5..

  Show support for the bond payable discount by preparing

On June 1, 2002, a company purchased on the open market $20,000 of a company's non-convertible (or convertible) bonds (2% of $1,000,000 bonds outstanding) at a price of "60" ($12,000 cash) plus accrued interest.

  Managerial and financial accounting concepts

Explain the two (2) basic types of analysis that are used to compare accounting information. In addition to above posted explain how Managerial Accounting differs from Financial Accounting (GAAP).

  What is material from the point of view of a bank

Discuss the steps involved in setting the preliminary judgment about materiality. Class, the concept of materiality is important in the context of auditing. Materiality is a function of the time, the situation, and the people involved.

  What is needles basis in the machinery

Nora transfers to Needle Corp depreciable machinery originally costing $18,000 and now having a $15,000 adjusted basis. In exchange, Nora receives all 100 shares of Needle stock having an $18,000 FMV and a three-year Needle note having a $4,000 FM..

  What is the ending oaa balance

If the beginning balance in OAA is $3,900, and the following transactions occur, what is the ending OAA balance?

  Ideas of ways of comparing four companies

Can you provide me with some ideas for a project which entails choosing four companies that are in the same industry and similar in size (total revenues or total assets) from companies included on the Standard and Poor's (S&P 500)?

  Problem related to compounded semi-annually

If I invest $40,000 0n January 1, 2010 in a savings account that earns interest of 8% compounded semi-annually. What will be the amount in the fund on December 31, 2015?

  What amount should abby and co. report as adjusted beginning

Abby and Co. reported a retained earnings balance of $500,000 at December 31, 2010. In September 2011, Abby and Co. determined that insurance premiums of $90,000 for the three-year period beginning January 1, 2010, had been paid and fully expensed..

  Risk premium and capital asset pricing model

Suppose Intel stock has a beta of 2.16, whereas Boeing stock has a beta of 0.69. If the risk-free interest rate is 4% and the expected return of the market portfolio is 10%,

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