Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - You have been recently hired as an assistant controller for XYZ Industries, a large, publically held manufacturing company. Your immediate supervisor is the controller who also reports directly to the VP of Finance. The controller has assigned you the task of preparing the year-end adjusting entries. In the receivables area, you have prepared an aging accounts receivable and have applied historical percentages to the balances of each of the age categories. The analysis indicates that an appropriate estimated balance for the allowance for uncollectible accounts is $180,000. The existing balance in the allowance account prior to any adjusting entry is a $20,000 credit balance.
After showing your analysis to the controller, he tells you to change the aging category of a large account from over 120 days to current status and to make a new invoice to the customer with a revised date that agrees with the new category. This will change the required allowance for uncollectible accounts from $180,000 to $135,000. Tactfully, you ask the controller for an explanation for the change and he tells you "We need the extra income, the bottom line is too low".
Identify the key internal and external stakeholders. What are the negative impacts that can happen if you do not follow the instructions of your supervisor?
On the basis of the exact sampling distribution of the sample mean, X¯, determine a 95% con?dence interval estimate of the population parameter, β.
Suppose a larger firm approached Comet with an offer of acquisition. Create a chart outlining the major pros and cons of such an offer.
How each option affects the financial statements. Include your journal entry(ies) in the body of your memo. Discuss the strengths and weaknesses.
Does Big Dave's Pizza have internal controls in place to catch this error? If so, how will this error be detected
In the audit of accounts receivable, auditors develop specific audit assertions related to the receivables. They then design specific substantive procedures.
What are the total equivalent units for conversion costs? The Filling Department of Eve Cosmetics Company had 5,000 ounces in beginning work in process
sundance skis company is preparing its end-of-year gross margin computations. sundance skis manufactures three types of
In an Excel spreadsheet: Provide a dollar range of costs to reduce budgets (worst and best case analysis). She needs to cut $94,000 in cost. Prioritize those cuts that can be made without impacting the operation or quality care of the organization.
On January 1, 2021, Lowly's book value was $901,500, a figure that rises to $945,250. What is net income attributable to noncontrolling interest
What kinds of questions about future cash flows do investors and creditors attempt to answer with information in the income statement?
Lin Corporation has a single product whose selling price is $135 per unit. Calculate the unit sales needed to attain a target profit of $4,500
A two year bond with par value of R1000, making annual coupon payments of R110 is priced at R1000. What is the yield to maturity of the bond
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd