Answer:
As the Federal Reserve conducts monetary policy, it influences employment and inflation primarily through using its policy tools to influence the availability and cost of credit in the community
Answer:
the standard variable overhead rate exceeded the actual rate.
Explanation:
Considering that, Variable overhead rate variance = Actual overhead costs - (actual hours * Standard rate)
Hence, in this case, since it is assumed that, if variable manufacturing overhead is applied on the basis of direct labor-hours and the variable overhead rate variance is favorable, then: the standard variable overhead rate exceeded the actual rate.
Answer:
Total Assets = Total Liabilities + Total Owner's Equity = $35,550
Explanation:
Note: See the attached excel file for the tabular analysis of the September transactions beginning with August 31 balances.
In the attached excel file, Evidence that Assets Equal Liabilities Plus Stockholders' Equity is prepared below the tabular analysis to show that the accounting equation holds as follows:
Total Assets = Total Liabilities + Total Owner's Equity = $35,550
In the attached excel file, the following calculations are performed:
1. Under Transaction 3: Accounts Payable ($) = $2,350 - $900 = $1,450
2. Under Transaction 4: Accounts Receivable = $7,900 - $2,550 = $5,350
Answer:
b. Skimming
Explanation:
Skimming is a scheme to evade tax, wherein business accept the amount from customer without recording in the accounting system. It is one of the off book fraud as cash was theft before it is entered into the book keeping system. It is difficult to detect as it does not have audit trail.
There type of skimming fraud:
- Direct theft
- Tax evasion
- Bribery
In the given case, rather than adding the check to the deposit, Anne pocketed $57 cash from the previously recorded amount and included the customer's check in the money to be taken to the bank. Therefore, as per the defination of skimming, Anne has commited Skimming fraud.