Answer:
A. The accounting department prepares a shipping report authorizing the shipment of goods
Explanation:
Internal control over sales is part of the audit procedures for the sales and collection cycle. Its purpose is to control the entire sales process so that there is no alteration in the related activities or in the documents associated with them. This type of control establishes parameters to disaggregate the tasks in several people, creates verification mechanisms so that the products delivered will be those already registered and controls that the goods or services are only delivered to customers with a good credit score.
According to the above, the response that shows an effective internal control over sales transactions is the A, since it establish a list of products authorized to ship, creating a control over the procedure avoiding errors that may appear.
Answer:
I dont get what this is asking
Explanation:
This is not a question
Answer:
a)
Rent Expense Dr.$16,000
Bank Dr.$48,000
Prepaid Rent Cr.$64,000
Explanation:
The company entered into lease on 1st November 2019 with rent of $8,000 per month. the company on 1st November 2019 recorded prepaid rent as follows; which is wrong
Prepaid Rent Dr. $72,000
Bank Cr. $72,000
This is wrong entry as prepaid rent was overstated by ($72,000-$24,000 ) $48,000 and same like bank was understated by $48,000
The correct entry should have been like this as on 1st November 2019;
Prepaid Rent Dr. $24,000
Bank Cr. $ 24,000
By 31st December 2019, two months rent have already accrued so prepaid rent should be credited by (8000*2+48,000 for additional amount recorded)
<em>So the rectifying entry is; as on 31st December 2019</em>
<em>Rent Expense Dr.$16,000</em>
<em>Bank Dr.$48,000</em>
<em>Prepaid Rent Cr.$64,000</em>
Answer:
2.6%
Explanation:
Jensen Measure is calculated using the below formula
Jensen Alpha = Rp - (Rf + beta*(Rm - Rf))
Where Rp = Return on portfolio = 20%, Rf = risk free rate = 3%, Beta = Beta of portfolio = 1.8 and Rm = Market return = 11%
Jensen Alpha = 20 - (3 + 1.8*(11-3))
Jensen Alpha = 20 - (3 + 1.8*8)
Jensen Alpha = 20 - (3 + 14.4)
Jensen Alpha = 20 - 17.4
Jensen Alpha = 2.6%
Answer:
C
Explanation:
One reason people do not get enough to eat in a country is because some crops are grown for export, leaving little to consume internally.
The amount of money made by expoting this crops is more beneficial to the economy and to the farmers that they prefer to export than to sell locally.This akes the crops scare in the country and equally very expensive.
