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3 years ago

The difference between errors in the financial statemetns as compared to fraud is

1 answer:

4 0

Hello there!

There is quite a HUGE difference between these both. When being frauded or making a fraud, this would also be known as stealing money.

But when making a mistake in a statement, they can be things resolved faster than if a person were to steal money. When making this mistake, you could resolve this by explaining why this was a mistake and also what could you do to fix it as well.

Both of these kind of acts are seriously two major different things, they have nothing in common.

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Use the information below to calculate the number of orders per year when using the EOQ: Annual demand for an item is 43,000 uni

IRINA_888 [86]

Answer:

The closest answer is 49.

Explanation:

Given that,

Annual demand, D = 43,000 units

Ordering cost, O = $200

Per unit cost of the item = $50

Annual holding cost, H = annual holding rate × Per unit cost of the item

= 35% × $50

= $17.5

$EOQ=\sqrt{\frac{2\times D\times O}{H} }$

$EOQ=\sqrt{\frac{2\times 43,000\times 200}{17.5} }$

= 991.39

= 992 units

Therefore,

Number of orders per year = Annual demand ÷ EOQ

= 43,000 ÷ 992

= 43.34

Hence, the closest answer is 49 and this is not given in the question.

5 0

3 years ago

Journalize the following transactions for the Evans Company. Assume the company uses a perpetual inventory system.

marta [7]

Answer:

Evans Company

General Journal

Part a.

Debit : Cash $645

Debit : Cost of goods sold $375

Credit : Sales Revenue $645

Credit : Merchandise $375

Part b.

Debit : Cash $432

Debit : Cost of goods sold $195

Credit : Sales Revenue $432

Credit : Merchandise $195

Part c.

Debit : Accounts Receivable $670

Debit : Cost of goods sold $438

Credit : Sales Revenue $670

Credit : Merchandise $438

Part d.

Debit : Credit Card fees $85

Credit : Cash $85

Explanation:

The Perpetual inventory system calculates the cost of sale and inventory balance on each and every sale made hence the journals above.

4 0

3 years ago

. Find an example of a print or Internet ad that includes images and text, and then answer the following questions about it. a.

andreev551 [17]

90% of people marry there 7th grade love. since u have read this, u will be told good news tonight. if u don't pass this on nine comments your worst week starts now this isn't fake. apparently if u copy and paste this on ten comments in the next ten minutes you will have the best day of your life tomorrow. you will either get kissed or asked out in the next 53 minutes someone will say i love you.

Answer:

Explanation:

8 0

3 years ago

Mr. wilkes has difficulty hearing sounds in the range of 20 to 40 decibels, but he has no difficulty hearing sounds above that r

Ede4ka [16]

Answer:

more audible

Explanation:

Note that decibels means the level of volume or loudness of sound. Therefore sounds higher than 20 to 40 decibels would be louder for Mr Wilkes.

It is important to note also that today's Hearing aids are used to correct hearing loss in patients. A device that could assist Mr Wilkes is a customized In the ear aids (ITE) device fitted to his outer ear bowl.

6 0

3 years ago

Ruston Company Income Statement January 1 to December 31, 2017 (amounts in thousands) 7,800 1,560 6,240 780 700 500 4,260 70 4,1

uranmaximum [27]

Answer:

The Net Cash Flow is -$4,686,000.

Explanation:

Note: The data in this question are merged. The complete question with the sorted data are therefore provided before answering the question. See the attached pdf file for the complete question with the sorted data.

The explanation of the answers is now provided as follows:

Net Cash Flow can be determined by preparing the cash flow statement as follows:

Ruston company

Cash Flow Statement

For the Year Ended December 31, 2017

Details $’000 $’000

Cash Flows from Operating Activity

Net Income 2,514

Adjustment to net income

Depreciation expense 700

Increase in accounts receivable (600)

Increase in accounts payable 300

Net Cash Flows from Operating Activity 2,914

Cash Flows from Investing Activity

Increase in Gross Property, Plant, & Eq. (8,300)

Net Cash Flows from Investing Activity (8,300)

Cash Flows from Financing Activity

Increase in Long Term Debt 700

Net Cash Flows from Financing Activity 700

Net Cash Flow  (4,686) 

Therefore, the Net Cash Flow is -$4,686,000.

Download pdf

8 0

3 years ago