Answer:
BLANK 1. (B)
BLANK 2. (D)
The office manager of ABC company has the authority to the whole financial operations. He authorizes activities, controls the company’s expenses, records the company’s transactions, and rarely takes vacation?
The owners of the company are happy with his work since the company is making a profit. You are giving the opportunity to educate the owners about the risk of not implementing internal control. What would be your advice? (2
Q3. At the end of the month, XYZ company’s bank statement is different from the cash book balance. How would the company do the bank reconciliation? (
The risk of not implementing internal control is that it can lead to unethical practices in the workplace.
Internal control refers to the process for assuring the objectives of an organization in operational efficiency and effectiveness. Reliable financial reporting and compliance with laws are vital in internal control.
The risk of not implementing internal control is that it can lead to unethical practices. Also, since there isn't any review of the work done by the financial manager, and this can be risky for the company. This can lead to fraudulent activities.
Since the bank statement is different from the cash book balance, the bank can reconcile this by getting the bank records. This can be done through the checking of appropriate debit and credit transactions in the bank records.
Read related link on:
https://brainly.com/question/25219745
The Centers for Disease Control and Prevention (CDC) defines a healthy sleep duration
to be at least seven hours per day. The CDC reports that the percentage of people who
report a healthy sleep duration varies by marital status. The CDC also reports that in
2018, 67% of those who are married report a healthy sleep duration; 62% of those who
have never been married report a healthy sleep duration; and 56% of those who are
divorced, widowed, or separated report a healthy sleep duration. The file Sleep Habits
contains sample data on the sleeping habits of people who have never been married
that are consistent with the CDC's findings. Use these data to answer the following
questions. Click on the datafile logo to reference the data,
DATA file
a. Develop a point estimate and a 95% confidence interval for the proportion of those
who have never been married who report a healthy sleep duration,
Point estimate
(to 4 decimals)
to
Confidence interval
(to 4 decimals)
4
b. Develop a point estimate and a 95% confidence interval for the mean number of
hours of sleep for those who have never been married.
(to 4 decimals)
Point estimate
to
Confidence interval
(to 4 decimals)
c. For those who have never been married, estimate the number of hours of sleep per
day for those who report a healthy sleep duration (to 4 decimals).
a. The point estimate of the married people that sleep well is = 0.6299. The confidence interval for the mean hours of sleep for those that have never been married but report good sleep is 0.6186, 0.6412
b. The point estimate of the number of hours for people that have never been married = 7.2257
95% confidence interval for the mean number of hours of sleep for those who have never been married = 7.2065, 7.2447
c. the estimated number of sleep for those that have never been married = 7.729 hours
a. The point estimate
[tex]P=\frac{Xp}{n}[/tex]
[tex]Xp = successes\\n = sample size\\[/tex]
Those who have never been married n = 7044
Xp = those who sleep for 7 hours at least
To get Xp, the excel function
Countif(range, criteria)
Countif(A:A, >=7)
This gives Xp = 4437
Point estimate =
[tex]\frac{4477}{7044}[/tex]
= 0.6299
The point estimate of the married people that sleep well is = 0.6299
At 95% interval of confidence,
α = 1-0.95 = 0.05
α/2 = 0.05/2 = 0.025
Z0.025 = 1.96 ( Use the standard probability normal table)
Margin of Error
=[tex]M.E = 1.96\sqrt \frac{0.6299(1-0.6299)}{7044} \\\\= 1.96\sqrt{0.000033} \\\\1.96*0.0057[/tex]
= 0.0113
The 95% confidence interval
= 0.6299 - 0.0113 , 0.6299 + 0.0113
= 0.6186, 0.6412
The confidence interval for the mean hours of sleep for those that have never been married is 0.6186, 0.6412
b. Sample mean
x = ∑x/n
x = number of sleep of the never been married
Mean is calculated using excel function
Average(range)
Average(a:a)
This gives the sample mean = 7.2257
The point estimate of the number of hours for people that have never been married = 7.2257
Standard deviation using excel =
Stdev(A:A) = 0.8211
[tex]Margin of error =1.96*\frac{0.8211}{\sqrt{7044} }[/tex]
= 0.0192
The confidence interval =
= 7.2257-0.0192, 7.2257+0.0192
= 7.2065, 7.2447
95% confidence interval for the mean number of hours of sleep for those who have never been married = 7.2065, 7.2447
c. From the available data, the mean number of sleep per day that is gotten from the 4437 people that are unmarried and sleep healthily for at least 7 hours = 34295.1
Mean = 34295.1/4437
= 7.729
the estimated number of sleep for those that have never been married = 7.729 hours
Read more on https://brainly.com/question/15601189?referrer=searchResults
A decrease in the discount rate causes employment to
Answer: A decrease in discounts for employees causes employment to decrease as well
Explanation:
Along with a complete shut down or even jail time for its principals, what other possible result can occur if a business violates federal regulations?
A. The business may be fined for its infractions.
B. The business may be sanctioned and employees asked to resign.
C. The principal owners would be asked to leave the country
no links please
Answer:
The answer is "yes".
By definition they regulate them, which means restraining some of the actions they might otherwise take that are perceived to harm others or have other greater negative impacts on society.
That being said, they also benefit them by generally fostering an environment of stability in the markets, which is the first thing that commerce needs in exploiting opportunities. When a business knows what to expect, it is able to develop effective strategies that optimize profits for the circumstances.
Explanation:
Can anyone help me with this accounting question? Im confused with the question
Answer:
what the heck
Explanation:
is this englesh
3.
Just before the accident, Falicia actually reduced her policy from $50,000 to $25,000.
a.
How much does Alicia have to pay?
b. How much does her insurance pay?
Answer:25,000
Explanation: Falicia actually reduced her policy from $50,000 to $25,000. so that's how i came up with my answer here.
$50,000 - $25,000 = $25,000
and there u go!
Answer:
Alicia will pay $15,500
Her insurance will pay $24,500
Explanation:
Identify the supporting document:
A_ Sale of merchandise
B_Payment of rent
C_Buy a car
D_Current account deposit
E_Delivery of goods
Lansing Company’s current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $ 130,200 Expenses Cost of goods sold 53,000 Depreciation expense 17,500 Salaries expense 29,000 Rent expense 10,100 Insurance expense 4,900 Interest expense 4,700 Utilities expense 3,900 Net income $ 7,100 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Prior Year Accounts receivable $ 6,700 $ 8,000 Inventory 3,080 2,090 Accounts payable 5,500 6,800 Salaries payable 1,100 810 Utilities payable 440 270 Prepaid insurance 370 500 Prepaid rent 440 290
Required:
Prepare the cash flows from operating activities section only of the company's 2017 statement of cash flows using the indirect method.
From the computation that was done, the value of the cash flow from operating activities will be $30430.
Net income = $7100
Add: Interest expense = $4700
Add: Depreciation = $17500
Account receivable = $8000 - $6700 = $1300
Inventory = $2090 - $3080 = - $990
Prepaid insurance = $500 - $370 = $130
Prepaid rent = $290 - $440 = -$150
Utilities payable = $270 - $440 = -$170
Accounts payable = $6800 - $5500 = $1300
Salaries payable = $810 - $1100 = $290
Cash flow from operating activities = $30430
Read related link on:
https://brainly.com/question/25693759
Pina Colada Co. had the following transactions during the current period.
Mar. 2 Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $29,400 for services performed in helping the company to incorporate.
June 12 Issued 58,300 shares of $5 par value common stock for cash of $362,400.
July 11 Issued 1,025 shares of $100 par value preferred stock for cash at $130 per share.
Nov. 28 Purchased 2,520 shares of treasury stock for $78,000.
Requried:
Journalize the transactions.
Pina Colada Co. will record the following journal entries for the transactions.
Mar. 2 Debit Attorney's Fees $29,400
Credit Common Stock $25,000
Credit Additional Paid-in Capital - Common $4,400
To record the issuance of 5,000 shares at $5 par value for attorney's bill.June 12 Debit Cash $362,400
Credit Common Stock $291,500
Credit Additional Paid-in Capital - Common $70,900
To record the issuance of 58,300 shares at $5 par value for $362,400.July 11 Debit Cash $133,250
Credit Preferred Stock $102,500
Credit Additional Paid-in Capital -Preferred $30,750
To record the issuance of 1,025 shares of $100 par value at $130 per share.Nov. 28 Debit Treasury Stock $12,600
Debit Additional Paid-in Capital - Common $65,400
Credit Cash $78,000
To record the purchase of 2,520 shares at $5 par for $78,000.Data and Calculations:
Mar. 2 Attorney's Fees $29,400 Common Stock $25,000 Additional Paid-in Capital - Common $4,400
issuance of 5,000 shares at $5 par value.
June 12 Cash $362,400 Common Stock $291,500 Additional Paid-in Capital - Common $70,900
58,300 shares at $5 par value.
July 11 Cash $133,250 Preferred Stock $102,500 Additional Paid-in Capital -Preferred $30,750
1,025 shares of$100 par value at $130 per share
Nov. 28 Treasury Stock $12,600 Additional Paid-in Capital - Common $65,400 Cash $78,000
2,520 shares at $5 par for $78,000.
Learn more: https://brainly.com/question/24148265
What Do You Need To Know About Taxi To Heathrow?
This year you earned 75,500. Last year you earned 72,400. What was the rate of change on your earnings since last year? A. 4.28% B. 4.68% C. 4.92% D. 5.12%
A firm buys on terms of 2/8, net 45 days, it does not take discounts, and it actually pays after 63 days. What is the effective annual percentage cost of its non-free trade credit? (Use a 365-day year.)
The effective annual percentage cost of its non-free trade credit is 13.08%/
Here, we are to calculate the effective annual percentage cost.
Given Information
Discount % = 2%
Discount Days = 8
Net Days = 45
Actual days = 68
Nominal % cost = Disc. %/(100 – Disc. %) × (365/(Actual days – Disc. days)
Nominal % cost = 2 /(100 - 2) * 365/(68 -8)
Nominal % cost = 2 /98 * 365/60
Nominal % cost = 0.0204081 * 6.083333
Nominal % cost = 0.1241496
Nominal % cost = 12.41%
n = 365/(63 - 8) = 6.64
Effective annual rate = (1 + Nominal % rate/n)^ n – 1
Effective annual rate = (1 + 0.1241/6.64)^6.64 - 1
Effective annual rate = 1.13083302405 - 1
Effective annual rate = 0.13083302405
Effective annual rate = 13.08%
Read more about this here
brainly.com/question/13130639
I hope that if you graduate, what can you do for this company better?
Answer:
I be confident for your company
Joanna ran a red light and hit another car. No one was hurt, but there was
damage to both vehicles. Joanna has liability coverage, but she does not
have collision insurance. Joanna's insurance carrier will pay for the damage
to:
A. neither vehicle.
Ο Ο
B. Joanna's vehicle only.
C. the other driver's vehicle only.
O
O
D. both vehicles.
Because his vehicle have a liability coverage alone on his car, then, the insurance carrier will pay for the damage to other driver's vehicle only.
The liability coverage provided is this case is also called a Third party insurance because it provide compensation for liability arising from damage to other road users.
Hence, since his vehicle have a liability coverage alone on his car, then, the insurance carrier will pay for the damage to other driver's vehicle only.
Therefore, the Option C is correct.
Read more about liability insurance
brainly.com/question/1198575
which of the following sentence ls use active voice
Answer:
Where is the picture
Explanation:
zarasiato24, I couldn't give Brainliest so I am posting a new question so I can give you Brainliest
Answer:
im here
Explanation:
On job training techniques example
Answer:
tyf didi
Explanation:
workforce Zoya Jacobson
The purpose of the cash flow statement is to:
To give a detailed breakdown of key items shown in the primary financial statements
Show where the business's cash has come from and where it has been spent
Show, at a particular date, the sources of funds provided to a business by shareholders and others and how these funds have been used
Show the revenues, expenses and operating profit for the financial year
The purpose of the cash flow statement is to show where the business's cash has come from and where it has been spent.
What is a cash flow statement?A cash flow statement is a type of financial statement that gives total information about all of the cash inflows a business makes from continuing activities and outside investment sources. It also includes any cash outflows made within a specific time period to cover investments and business expenses.
The financial statements of a firm give investors and analysts a picture of all the business transactions that take place, where each transaction helps the company succeed. Because it tracks the cash generated by the business in three key ways—through operations, investments, and financing—the cash flow statement is seen to be the most understandable of all the financial statements.
The cash flows from operating activities (CFO) portion of the cash flow statement contains transactions from all operational business activities. The net income is the starting point for the cash flows from operations segment, which subsequently reconciles all non-cash items to cash items comprising operational activities. In other words, it is the business's net income, but expressed in cash.
The cash flows from investing (CFI), which are the outcome of investment gains and losses, are examined in the second section of the cash flow statement. Cash spent on real estate, machinery, and equipment is also included in this part. In this section, analysts search for variations in capital expenditures.
The cash flow statement's final section is titled cash flows from financing (CFF). An overview of how cash is used in business finance is given in this section. It gauges the movement of money between a business's owners and creditors, and its funding typically comes from debt or equity. When the cash flow from finance is positive, more money is coming into the business than is leaving it. If the number is negative, it could indicate that the business is repurchasing stock or paying down debt.
To learn more about cash flow statement, click here
https://brainly.com/question/735261
#SPJ2
Grady, Inc. manufactures model airplane kits and projects production at 650, 500, 450, and 600 kits for the next four quarters. Direct materials are 4 ounces of plastic per kit and the plastic costs $1 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 850 ounces, and the company desires to end each quarter with 10% of the materials needed for the next quarter’s production. Grady desires a balance of 200 ounces in Raw Materials Inventory at the end of the fourth quarter. Each kit requires 0.10 hours of direct labor at an average cost of $10 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.20 per kit, and fixed overhead is $165 per quarter. Prepare Grady’s direct materials budget, direct labor budget, and manufacturing overhead budget for the year. Round the direct labor hours needed for production, budgeted overhead costs, and pre-determined overhead allocation rate to two decimal places.
Refer to the budgets prepared. Determine the cost per kit to manufacture the model airplane kits. Grady projects sales of 100, 150, 100, and 200 kits for the next four quarters. Prepare a cost of goods sold budget for the year. Grady has no kits in beginning inventory.
Grady, Inc.'s Direct Materials Budget, Direct Labor Budget, and Manufacturing Overhead Budget for the year are as follows:
Direct Materials Budget
Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total
Projected production 650 500 450 600 2,200
Ounces of plastic per kit 4 4 4 4 4
Total materials required 2,600 2,000 1,800 2,400 8,800
Ending materials inventory 200 180 240 200
Raw materials available 2,800 2,180 2,040 2,600
Beginning materials inventory 850 200 180 240
Purchases of raw materials 1,950 1,980 1,860 2,360
Cost of materials purchased $1,950 $1,980 $1,860 $2,360 $8,150
Direct Labor Budget
Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total
Projected production 650 500 450 600 2,200
Hours per kit 0.10 0.10 0.10 0.10 0.10
Total direct labor hours reqd. 65 50 45 60 220
Average cost per hour $10 $10 $10 $10 $10
Total direct labor cost $650 $500 $450 $600 $2,200
Manufacturing Overhead Budget:
Variable overhead $130 $100 $90 $120 $440
Fixed overhead $165 $165 $165 $165 $660
Total manufacturing o/h $295 $265 $255 $285 $1,100
Manufacturing overhead/unit $0.45 $0.53 $0.57 $0.475 $0.50
Cost per Kit:
Direct materials cost per unit = $4.00
Direct labor cost per unit $1.00
Manufacturing overhead $0.50
Cost per kit = $5.50
Cost of goods sold budget for the year:
Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total
Quarter Sales 100 150 100 200 550
Cost per unit $5.50
Cost of goods sold $550 $825 $550 $1,100 $3,025
Learn more: https://brainly.com/question/13767214
Developing training program
Answer:
Training can be viewed as a process comprised of five related stages or activities: assessment, motivation, design, delivery, and evaluation.
Explore five stages of the training process:
Assess.
Motivate.
Design.
Deliver.
Evaluate.
Integrating 160 different nationalities into one
corporation, such as The Emirates Group, has
challenges and opportunities. What challenges
do you see? What opportunities come from this
diverse workforce?
Answer:
6/7okay
hi
288+287299(
udueuiiowiiikd78((_88
The integration of different nationalities in a corporation, such as The Emirates Group, can have the advantages of increasing knowledge and innovation.
The disadvantages of this type of commercial integration can be related to cultural and adaptive differences among workers.
What are the challenges of a multicultural environment?Globalization has tightened social and economic relationships between nations, making work environments multicultural, which is positive for increasing creativity, but there are several challenges that must be managed such as:
Language barriersEthicIndividual valuesTherefore, it is essential that in a multicultural corporation, there is a focus on promoting cultural skills and ethics as guides for actions in micro and macro environments.
Find out more about globalization here:
https://brainly.com/question/14088698
#SPJ2
Companies use esg integration to create new forms of
It's about using ESG integration to create new forms of competitive advantage. And since it involves fundamental strategic and operational choices, it can't be left entirely to the investor relations team or the sustainability department.
Describe ESG integration?Environmental, social, and governance (ESG) integration is the practice of integrating significant ESG data into the investment process with the goal of enhancing the long-term financial performance of our clients' portfolios.
Why are ESGs integrated by businesses?The examination of corporate actions that impact operational effectiveness, future course, and boosted risk-adjusted returns and long-term viability can be supported by ESG integration. ESG integration supports the evaluation of possibilities and risks in organizations and portfolios.
What are the uses of ESG?ESG, or environmental, social, and governance, is a phrase used to describe an organization's corporate financial interests, which primarily concentrate on ethical and sustainable outcomes. Capital markets utilize ESG to assess businesses and forecast their financial prospects.
To know more about ESG integration visit:
https://brainly.com/question/28473522
#SPJ2
sample of event proposal
Tanong nyo po Kay Jollibee
des
11. Ashleigh has a pet boa constrictor named
Pauline. She keeps it in the most expensive,
escape-proof cage she can find. Regardless,
the boa escapes and kills the neighbor's famed
show cat which was valued at more than $5,000.
Will Ashleigh be liable?
at
ely
Will Ashleigh be liable
Answer:
yes
Explanation:
it was her boa constrictor so therefore she is held responsible
Karson is a manager in a bottle manufacturing company. He wants to check whether 100 bottles were produced and dispatched to the market. Which department should
he consult?
Answer:
Answer is Operations Department.
Explanation:
Stone Age Surfboards is a small manufacturer of two types of popular high-tide surfboards, the Rockwell and the Limestone models. The manufacturing process consists of two departments: fabrication and finishing. The fabrication department has 15 skilled workers, each of whom works 5 hours per day. The finishing department has 5 workers, who also work a 5-hour shift. Each pair of Rockwell surfboards requires 3 labor hours in the fabrication department and 1.5 labor hours in finishing. The Limestone model requires 4.5 labor-hours in fabrication and 2 labor-hours in finishing. The company operates 6 days a week. It makes a per-unit profit of $60 on the Rockwell model and $75 on the Limestone model. Approximately 4.1 Rockwell models and 8.4 Limestone models are produced per day. What is the total number of hours used for the finishing operation
Based on the information given, the total number of hours that will be used for the finishing operation will be 22.95 hours.
The total number of hours that will be required for finishing 4.1 Rockwell models will be:
= 1.5 × 4.1 = 6.15 hours.
The total number of labor hours that'll be required for finishing 8.4 Limestone models will be:
= 2 × 8.4 = 16.8 hours.
Therefore, the total labor hours that will be required will be:
= 6.15 hours + 16.8 hours
= 22.95 hours
Read related link on:
https://brainly.com/question/25692769
Identify a current trending topic on Yahoo! or Twitter. Why do you think this particular topic is currently trending? How long do you think this topic will remain popular? Can you connect the trending topic to any of the cultural values and behaviors discussed in your readings?
Answer:
I am pro of free fire
Explanation:
124 5
In the field of organizational behavior, organizations are described as
Answer:
hljikgukg8jguihgihgigg
Boreki Enterprise has the following 10 items in inventory. Theodore Boreki asks you a recent OM graduate to divide these item into ABC classification. Fill in the blanks and then answer the following questions. round dollar volume to the nearest number and percentage of dollar volume to two decimal places.
Item Annual Demand Cost\Unit Dollar Volume % of Total Dollar Volume
A2 3500 50 ___ ___
BB 4000 12 48,000 4.89
CT 1500 45 67,500 6.60
D1 6000 20 _____ _____
E9 1000 20 20,000 1.95
F3 500 500 ____ _____
G2 200 1500 300,000 29.34
H2 600 20 12,000 1.17
I5 1750 10 ____ ___
J8 2500 5 12,500 1.22
Based on the percentages of dollar volume, Item A2 should be classified as _____.
1. The blanks are filled with the correct values and each item classified according to the ABC classification as follows:
A - outstandingly important
G2 200 1500 300,000 37.62%
A2 3500 50 175,000 21.94%
D1 6000 20 120,000 15.05%
B - of average importance
CT 1500 45 67,500 8.46%
BB 4000 12 48,000 6.02%
C - relatively unimportant
F3 500 500 25,000 3.13%
E9 1000 20 20,000 2.51%
I5 1750 10 17,500 2.19%
J8 2500 5 12,500 1.57%
H2 600 20 12,000 1.50%
2. Item A2 is classified as A - outstandingly important.
Data and Calculations:
Item Annual Demand Cost\Unit Dollar Volume % of Total Dollar Volume
A2 3500 50 175,000 21.94%
BB 4000 12 48,000 6.02%
CT 1500 45 67,500 8.46%
D1 6000 20 120,000 15.05%
E9 1000 20 20,000 2.51%
F3 500 500 25,000 3.13%
G2 200 1500 300,000 37.62%
H2 600 20 12,000 1.50%
I5 1750 10 17,500 2.19%
J8 2500 5 12,500 1.57%
Total Dollar Volume 797,500 100%
Percentages of dollar = Dollar Volume/Total Dollar Volume x 100
Thus, based on the percentages of dollar volume, Item A2 should be classified as A - outstandingly important.
Learn more: https://brainly.com/question/22608476
what are books of prime entry?
Answer:
A book or record in which certain types of transaction are recorded before becoming part of the double-entry book-keeping system.
