Answer: Company Pays $1640
Carol Bryd pays $410
Explanation:
The total bill is $2300 and the deductible needs to be taken out.
$2300-$250
=$2050
Company Payment.
Company Pays 80% which translates to 0.8
0.8*2050
= $1640 is the company Payment.
Carol then pays the difference which is
$2050 - $1640
= $410
Carol pays $410
Answer:
Since this is the first time you have ever done this, is this a problem?
Of course this is a problem, you stole money. Stealing money is not right and it is a problem. If someone finds out, you will lose your job. legally, you could also be prosecuted, but the amount is very little. Another problem is that if you are able to go unpunished and no one finds out, this behavior will continue until you cannot hide it anymore. By then , the amount might be larger, not just a few dollars, and you will be in deep trouble.
If so, what steps should be taken to fix this problem? If not, why not?
Pay back the money you took. Simple as that. Sometimes, doing the correct thing is not difficult. Do not spend money on unnecessary things and pay the $30. Do it before this becomes a bad habit and you get into serious trouble that seriously damage your career. No company will hire someone fired for stealing money form their previous employer.
Answer:
a. Unearned Revenue; b. Accrued Revenue; c. Accrued Expense; d. Prepaid Expense
Explanation:
Prepaid Expenses : Expenses paid before due
Unearned Revenue : Revenue earned before due i.e Advance Income
Accrued Revenue : Revenue earned i.e due , but not received
Accrued Expense : Expense due but not paid i.e Outstanding Expense
a. Cash received for use of land next month = Unearned Revenue or Advance Income
b. Fees earned but not received in cash = Accrued Revenue / Accrued Income
c. Wages owed but not yet paid = Accrued Expense / Outstanding Expense
d. Supplies on Hand = Prepaid Expense
Answers;
In scrutinizing a statement of cash flows in an attempt to gain a better understanding of the client, the auditor should evaluate to check if the client is meeting interest payments when they are due. The auditor may use information about the client's industry. This is done to evaluate whether significant changes is made in the company from prior periods, including changes in its internal control over financial reporting, affect the risks of material misstatement.
