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Question 1. Why audit trail is needed for payroll?
Question 2. The importance of internal control over fixed assets.
Question 3. Explain the consequences of buying fixed assets without prior approval.
Question 4. Explain the importance of inventory control.
Question 5. Give an example why inventory may cause losses to the company?
Question 6. What are the advantages and disadvantages in adopting just-in-time(JIT) inventory system?
Presented below is a set of independent situations. For each independent situation, indicate the journal entry to be made to record the transaction
Do you think this type of proposal is a good idea? Explain what effect the proposal would have on the involved companies.
Two genetic tests routinely offered to women during pregnancy are Chorionic Villus Sampling (CVS) and Amniocentesis. Many health care professionals believe these two tests are best to determine if there are any genetic mutations or any undesired g..
during periods of rising prices a perpetual inventory system would result in the same dollar amount of ending inventory
Explain how this will impact on the financial position, performance and valuation of company from the perspective of investors?
Compute the depreciation expense and year-end book values for 2016 and 2017 using the Sum-of-the-years'-digits method and Double-declining balance method
Analyzing and Interpreting the Inventory Turnover Ratio Polaris Industries Inc. is the biggest snowmobile manufacturer in the world.
a firms accumulated depreciation account increased 30000 for the year and total plant assets at cost increased 200000.
Monforte Inc. began operations in January 2015. For certain of its property sales, Monforte recognizes income in the period of sale for financial reporting purposes. However, for income tax purposes, Monforte recognizes income when it collects..
Included in the income of 2016 was an installment sale of property in the amount of $34,000. Prepare the year-end journal entries to record income taxes
on january 1st of the current year lenox company decides to sale with recourse 4000000 of their receivables. the
1. which of the following statements concerning the statement of cash flows is true?athe statement of cash flows is
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