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The following list presents various internal control strengths (S) or risks (R) that may be found in a company revenues and cash collection processes.Credit is authorized by the credit manager.Checks paid in excess of $5,000 require the signatures of two authorized members of management.A cash receipts journal is prepared by the Treasurer department.Collections received by check are received by the company receptionist, who has no additional recordkeeping responsibilities.Collections received by check are immediately forwarded unopened to the accounting department.A bank reconciliation is prepared on a monthly basis by the Treasurer department.Security cameras are placed in the shipping dock.Receiving reports are prepared on pre-printed, numbered forms.The billing department verifies the amount of customer sales invoices by referring to the authorized price list.Entries in the shipping log are reconciled with the sales journal on a monthly basis.Payments to vendors are made promptly upon receipt of goods or services.Cash collections are deposited in the bank account on a weekly basis.Customer returns must be approved by a designated manager before a credit memo is prepared.Account statements are sent to customers on a monthly basis.Purchase returns are presented to the sales department for preparation of a receiving report
Skycrest Co., a furniture wholesaler, sells merchandise to Boyle Co. on accounts, $45,000, terms 2/10, n/30. The cost of the merchandise sold is $27,000.
Each coffee table produced by Robert West Designers nets the firm aprofit of $16. Each bookcase yields a $12 profit. How many tables should be produced each week?
calculate the change that occurred in cash during the month. you may assume that the change in each balance sheet
1. maker systems manufactures automated test systems that perform quality inspections during and at the completion of
Variable manufacturing costs $ $ $
How do companies balance the need to maintain control over their payroll systems with the costs to implement controls to mitigate risks?
Which of the following is an advantage of a corporation over a partnership?
What is a characteristic line? How is this line used to estimate a stock's beta coefficient? Write out and explain the formula that relates total risk, market risk, and diversifiable risk.
wilkins manufacturing uses a job order cost accounting system. on december 1 the company has a balance in work in
capizzi corporation has an activity-based costing system with three activity cost pools-machining order filling and
during the current year karen sells her entire interest in central corporation common stock for 22000. she is the sole
Develop a budget template for the project in your scenario - Develop a BSC which includes your suggested KPIs in the four BSC categories for the project in your scenario.
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