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Rina8888 [55]
3 years ago
13

There are three simple procedures that small business owners should do on a timely basis to prevent fraud when they can’t afford

sufficient employees to guarantee effective segregation of duties.. Which of the following is NOT one among them?
Business
1 answer:
Mars2501 [29]3 years ago
8 0

Answer:

Allow one key employee to operate the bank account personally.

Explanation: Allowing one key employee to operate the bank account personally is a major non compliance in management of business ventures. Two or more persons with TRUSTED INTEGRITY can be assigned especially if they are PERMANENT STAFF and in MANAGEMENT POSITIONS. This two factors will help to Prevent or reduce the chance of any Criminal or fraudulent activities.

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Caribbean Reef Software has 8.4 percent coupon bonds on the market with 9 years to maturity. The bonds make semiannual payments
Zepler [3.9K]

Answer:

9.14%

Explanation:

Calculation for YTM

First step is to use financial calculator to find the I which represent Interest rate

FV = 1,000

PMT= 1,000*8.4%/2= 42

N= 9years*2= 18

PV= -955

Hence,

I= 4.57%

Now let calculate YTM

YTM = 4.57%*2

YTM =9.14%

Therefore YTM will be 9.14%

5 0
3 years ago
What is trading account​
REY [17]
a trading account deals with the u.s. government
6 0
2 years ago
The following selected transactions were completed by Capers Company during October of the current year:
pychu [463]

Answer:

Oct. 1 Purchased merchandise from UK Imports Co., $13,377, terms FOB destination, n/30.

Dr Merchandise inventory 13,377

   Cr Accounts payable 13,377

Oct. 3 Purchased merchandise from Hoagie Co., $10,650, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $230 was added to the invoice.

Dr Merchandise inventory 10,880

    Cr Accounts payable 10,880

Oct. 4 Purchased merchandise from Taco Co., $14,350, terms FOB destination, 2/10, n/30.

Dr Merchandise inventory 14,350

    Cr Accounts payable 14,350

Oct. 6 Issued debit memo to Taco Co. for $5,000 of merchandise returned from purchase on October 4.

Dr Accounts payable 5,000

    Cr Merchandise inventory 5,000

Oct. 13 Paid Hoagie Co. for invoice of October 3.

Dr Accounts payable 10,880

    Cr Cash 10,667

    Cr Purchase discounts 213

Oct. 14 Paid Taco Co. for invoice of October 4, less debit memo of October 6.

Dr Accounts payable 9,350

    Cr Cash 9,163

    Cr Purchase discounts 187

Oct. 19 Purchased merchandise from Veggie Co., $25,850, terms FOB shipping point, n/eom.

Dr Merchandise inventory 25,850

   Cr Accounts payable 25,850

Oct. 19 Paid freight of $430 on October 19 purchase from Veggie Co.

Dr Merchandise inventory 430

    Cr Cash 430

Oct. 20 Purchased merchandise from Caesar Salad Co., $23,000, terms FOB destination, 1/10, n/30.

Dr Merchandise inventory 23,000

    Cr Accounts payable 23,000

Oct. 30 Paid Caesar Salad Co. for invoice of October 20.

Dr Accounts payable 23,000

    Cr Cash 22,770

    Cr Purchase discounts 230

Oct. 31 Paid UK Imports Co. for invoice of October 1.

Dr Accounts payable 13,377

   Cr Cash 13,377

Oct. 31 Paid Veggie Co. for invoice of October 19.

Dr Accounts payable 25,850

    Cr Cash 25,850

8 0
2 years ago
The gross earnings of the factory workers for Larkin Company during the month of January are $91,000. The employer's payroll tax
cestrela7 [59]

Answer:

Explanation:

The journal entry is shown below:

(a) Factory Labor/Expenses A/c Dr $103,800

        To Factory wages payable               $91,000

         To Employer payroll taxes payable $7,700

         To Fringe benefits payable              $5,100

(Being labor expenses are recorded)

(b) Direct labor A/c Dr   $87192 ($103,800 × 84%)

    Indirect labor A/c Dr $16,608 ($103,800 × 16%)

          To Factory Labor                     $103,800

(Being factor labor is assigned)

7 0
2 years ago
For each of the situations​ listed, identify the primary standard from the IMA Statement of Ethical Professional Practice that i
DaniilM [7]

Answer:

1. To reduce the company's tax bill, Jack uses total cost to value inventory instead of using product cost as required by law.

  • Competence: accounting records must follows applicable laws, regulations and standards, you must IRA and GAAP rules when preparing financial statements and tax reports.

2. Since Emilie works in the accounting department, she is aware that profits are going to fall short of analysts' projections. She tells her aunt to sell stock in the company before the earnings release date.

  • Confidentiality: accounting records must b confidential unless you are authorized to disclose them, and you are not authorized to disclose the information to your aunt.

3. Veronica pays a Mexican official a bribe of $50,000 to allow the company to locate a factory in that jurisdiction so that the company can take advantage of the cheaper labor costs. Without the bribe, the factory cannot be located in that location.

  • Integrity: you must abstain from performing illegal activities, and bribery is illegal.

4. There is a failure in the company's backup system after a system crash. Month-end reports will be delayed. Kayla, the manager of the division experiencing the system failure, does not report this upcoming delay to anyone since she does not want to be the bearer of bad news.

  • Credibility: you must report all relevant and important information regardless of whether that information will make you bad or not.
4 0
3 years ago
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