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You're a business consultant providing information and advice to future small business owners. Controls are especially important with respect to cash. Three of them are clear assignment of responsibility, specific procedures for documentation, and independent internal verification of the data. Explain the importance of the three areas of cash control and make recommendations for procedures that could be implemented.
Which of the following is recorded in the cash payments journal?
Prepare the necessary journal entry to close the overhead account if the balance is considered immaterial.
Would the answers to Part a change if the accounting firm reimburses Roberta for these expenses?
What was the amount of Stoop's earnings that should be included in calculating consolidated diluted earnings per share?
DNA Corporation issued $4,000,000 in 8 percent, 10-year bonds on February 1, 2010, at 115. Semiannual interest payment dates are January 31 and July 31. Use the straight-line method and ignore year-end accruals.
An outside supplier has offered to produce the machines for Thomas for $700 a unit. What is the incremental effect on profit for this make or buy decision?
Gannon, Inc., had 100,000 shares of common stock outstanding. During the current year, the company distributed a 10 percent stock dividend and subsequently paid a $.50 per share cash dividend Calculate the number of shares outstanding at the time ..
Funzy Cereal includes one coupon in its cereal and offers a toy car in exchange for $1.00 and coupons. The cars cost $1.50. 40% of the coupons were redeemed in the 1st month. 12 million boxes of cereal were sold and 2.4 million coupons redeemed. W..
Woolery, Inc. had 50,000 shares of common stock outstanding at January 1, 2009. Compute basic earnings per share for the year ended December 31, 2009.
Consider an investor who believes in CAPM and is willing to bear the amount of systematic risk given beta of 1.2. Investor buys the passive portfolio by combining the market portfolio and T-bills. What should be the weight to T-bill in her pas..
Explain the rules for marital status and community property income. Her address is 500 Elizabeth Street, Brownsville, Texas 78520.
What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?
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