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October collections on account were $257,000, and write-offs of uncollectible receivables totaled $3,600. Uncollectible-account expense is estimated as 3% .
Late in 2014, Almond instructed Brad Lail, the accountant and a personal friend of yours, to record a $10,000 sale of portraits to the Almond family.
On July 1, 2014, when the business collected $14,000 rent in advance, it debited Cash and credited Unearned Rent Revenue.
Purchased equipment for $4.9 million, paying cash of $2.0 million and signing a longterm note payable for $2.9 million.
Compute Baltimore's net working capital and current ratio at December 31, 2014, and again at January 31, 2015.
The contract for this job has been signed, and Cross Timbers will deliver the natural gas during January of next year.
Define "fraud." List and briefly discuss the three major components of the "fraud triangle."
How do computer viruses, Trojan Horses, and phishing expeditions work? How can these e-commerce pitfalls hurt you? Be specific.
Cash may be a small item on the financial statements. Nevertheless, internal control over cash is very important. Why is this true?
Cardinal Company requires that all documents supporting a check be canceled by punching a hole through the packet.
Prepare a bank reconciliation to determine how much cash Vincente actually has at August 31.
The symphony's procedure requires Young to write a patron receipt for all memberships sold.
Suppose a purchasing agent receives the goods that he purchases and also approves payment for the goods.
To meet daily cash needs next year, FM must maintain a cash balance of at least $11 million. Prepare the organization's cash budget for 2015.
Describe the types of assets that are typically included under the heading "cash and cash equivalents" on the balance sheet.
Juan Higaredo works as a security guard at VALID parking in Denver. Higaredo has a master key to the cash box where customers pay for parking.
Redstone, Inc., policy calls for project supervisors to purchase the equipment needed for jobs.
Downtown Columbia was led by a board of directors comprised of civic leaders. Munson's embezzlement went undetected until Downtown Columbia couldn't pay .
Patrick's Cash account shows a June 30 cash balance of $1,876. How much cash does Patrick actually have at June 30, 2014?
Write a memo to convince the store manager that there is an internal control weakness over cash receipts.
Identify the main internal control weakness in this situation, state how the weakness can hurt Blue Manufacturing, and propose a way to correct the weakness.
Will the budgeted level of cash receipts leave Dexter with the desired ending cash balance of $70 million, or will the company need additional financing?
Kirk Kennedy works as a security guard at TOWN parking in Des Moines. Kennedy has a master key to the cash box where customers pay for parking.
Gary Chapman Construction policy calls for construction supervisors to request the equipment needed for their jobs.
Explain how these threats impact on the Auditor's independence and any other implications for yourself and your firm.