User Account

All Pages

What is the risk in this situation

Assignment Help Accounting Basics
Reference no: EM133061817

Question - Eddie works at a clothing store in the mall. He sees that his manager is very busy. At the end of the day, Eddie offers to count the cash in the cash register, deposit it at the bank, and record the accounting journal entries. What is the risk in this situation? Explain using the concept of separation of duties.

Reference no: EM133061817

Questions Cloud

Perform a risk assessment for that project : Evaluate the likelihood and the impact of that threat. What would you do as a response to that threat - Perform a risk assessment for that project and record
New zealand producer of consumer goods : Ivano Boesky is part of the executive team of a large New Zealand producer of consumer goods sold in New Zealand, Australia, and to a smaller extent internation
What is the present value of cash flows : An owner of the Atrium Tower Office Building is currently negotiating a five-year lease with ACME Consolidated Corporation for 20,000 rentable square feet of of
Calculate the firm weighted average cost of capital : a. Calculate the firm's Weighted Average Cost of Capital.
What is the risk in this situation : Eddie offers to count the cash in the cash register, deposit it at the bank, and record the accounting journal entries. What is the risk in this situation
What is the effect of taking the action on the tax payments : Change the estimated salvage value of its largest piece of equipment from $10,000 to $20,000. What is the effect of taking the action on the tax payments
Allocate the cost of advertising : Do you agree with TRU's decision not to allocate the cost of advertising? Why or why not? Be specific about any alternative allocation methods that you would co
Allocate the building-related costs : Would you recommend that TRU continue to allocate the building-related costs only to the preschool program? What alternative allocation method would you Suggest
Investment earn on an annualized basis : 1. Your grandfather gave you a stamp originally issued in 1955, that he bought for 20 cents in that year. But after searching through the internet, you find th

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine what is the equity multiplier

What is its total assets turnover? Do not round intermediate calculations. Round your answer to two decimal places. What is its equity multiplier?

  Define the status of the accounts before adjustment

For each item, indicate the type of adjustment (prepaid expense, unearned revenue, accrued revenue, or accrued expense).

  Pratt company is currently operating at a loss of 15000 the

pratt company is currently operating at a loss of 15000. the sales manager has received a special order for 5000 units

  Calculate operating income for the period

Selling, general, and administrative expenses were $165,000; net sales were $750,000; Calculate operating income for the period

  Problem - Purchases Discounts and Accounts Payable

Problem - Purchases Discounts and Accounts Payable - How would you respond to Cam Pfeifer's request

  Gross profit ratio

Dexter Inc. recorded net sales of $50,000 during the period, and its cost of goods sold amounted to $30,000. Compute the company's gross profit ratio.

  What is the change in retained earnings

If service revenue is $260,000, total expenses are $175,000, what is the change in retained earnings as a result of the closing process

  Explore collaboration and how you will apply it

Explore collaboration and how you will apply it in this course based upon the discussion with your Learning Team. Be sure to reference and cite your sources.

  Cost versus usage percentages be assessed and analyzed

How should cost versus usage percentages be assessed and Analyzed? This area will need to address actual costs compared to edible portion costs. It should also include how waste affects costs. 100-150 words

  Calculate the annual depreciation charge

Calculate the annual depreciation charge for each of the six years of the truck's life using the following methods the straight-line method

  What the consequences of failing to adjust standard costs

Jody Elgar is in charge of standard costing at Taylor Industries. What are the consequences of failing to adjust the standard costs

  How much of the gain may Jamie exclude from gross income

On February 1, year 2, Jamie sold the home at a $48,500 gain. How much of the gain, if any, may Jamie exclude from her gross income in year 2

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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