How to improve cash flows
Auditors found out that Campbell was delaying payments to creditors at year end and selling inventories as huge discounts in order to improve cash flows. Please highlight the ethical issues involved in this practice if any?
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Equipment was purchased at a cost of $57,620, and fully depreciated equipment costing $15,710 was discarded, with no salvage realized.
Tomas Corporation began operations at the start of 20C. During the year, it made sales totaling $875,000 and collected $850,000 in cash from its customers.
Signs an agreement to manufacture a specially designed machine for a customer for $60,000 to be delivered in January of next year. At the time of signing, the customer advances $12,000 of the contract price.
Isabel Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations.
Most people have some exposure to an accounting information system, but not all people have the same exposure or experience. What are your experiences, job backgrounds.
Office supplies had a balance of $192 on January 1. During the year, $785 of office supplies were purchased on account. At the end of the year, $43 of supplies remained on hand.
Mr. Patterson is paid through the piecework method at $100 for each 1,000 units. He did 6,000 units of work and had these deductions: FIT $12.50 PIT $10.00 UIC $6.00 Medicare $2.50 Union $8.00 What is Mr. Patterson's gross pay?
General Chemical Company (GCC) manufactures two products as part of a joint process: A1 and B1. Joint costs up to the split-off point total $26,500.
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