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bixtya [17]
3 years ago
13

Bellswood Jewelers uses an ID card scanner and six-digit code to allow entry into their jewelry vault. The six-digit code is the

same for all employees. However, use of the ID card allows the system to identify who entered the vault. One day, a salesperson sees another salesperson’s ID card lying unattended in the break room, and the employee uses the card to enter the vault and steal jewelry worth $36,840. Which principle of control activities was violated in this scenario?
Business
1 answer:
erastova [34]3 years ago
7 0

Answer:

Violate Establishment of responsibility

Explanation:

Establishment of responsibility is an characteristic of control such as internal related methods,measures adopted within an organization to safeguard assets and enhance the reliability of accountability, increase efficiency of operations,etc and which is used for assigning of responsibility to an individuals i.e when only ONE person is responsible for a given task.

Bellswood Jewelers makes used of the principle of establishment of responsibility in it operations.

The salesperson who sees another salesperson’s ID card lying unattended in the break room, and then make uses of the card to enter the vault and steal jewelry worth $36,840 had violated the establishment of responsibility of Bellswood

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An electronics company makes communications devices for military contracts. The company just completed two contracts. The navy c
posledela

Answer:

(A) Navy contract= 1.0

Army contract= 0.8

(B) Navy contract

Explanation:

(A) The productivity for navy can be calculated as follows

= 28 × 2× 40

= 2240

Since the navy contract was for 2266 devices then productivity is

= 2266/2240

= 1.0 labor hour

The productivity for army can be calculated as follows

= 29×6×40

= 6960

Since the army contract was for 5510 devices then productivity is

= 5510/6960

= 0.8 labor hour

(B) The workers were more productive on the navy contract

7 0
2 years ago
A $1,000 par bond is currently selling for $1,100. It has a 9% coupon rate, fifteen years remaining to maturity, and pays intere
DanielleElmas [232]

Answer:

$54.17 per bond

Explanation:

the journal entry to record the issuance of the bond:

Dr Cash 1,100

    Cr Bonds payable 1,000

    Cr Premium on bonds payable 100

The bond premium amortization using straight line amortization:

$100 / 30 = $3.33 per coupon payment

journal entry to record coupon payment:

Dr Interest expense 41.67

Dr Premium on bonds payable 3.33

    Cr Cash 45

the yearly interest expense = $41.67 x 2 = $83.34 x (1 - tax rate) = $83.34 x 0.65 = $54.17

5 0
3 years ago
The channel of distribution consists of ___________, who assist in moving goods and services from producers to businesses and fr
sp2606 [1]

Answer: intermediaries

                                       

Explanation: In simple words, channel of distributions refs to the chain of business activities and intermediaries who prof rm the function of transferring the product from the producer to its final customer.

This channel of distribution consists of intermediaries such as agents, brokers , wholesalers and retailers who deals with each other at different levels and earn their margin of profit from the product while transferring it to next stage.

These are important parties to the market as without them producer has to perform all the ruination by himself which can result in delay or unstable supply in the market.

5 0
3 years ago
Easton Co. deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of busines
jek_recluse [69]

Answer:

Easton Co.'s adjusted book balance June 30 =  $72,724

Explanation:

Bank balance June 30:  $68,349        Book balance June 30:  $72,709

Deposit in transit:              $7,550        Interest earned:                     $55

<u>Outstanding checks:        ($3,175) </u>       <u>Check printing fees:            ($40)  </u>

Adjusted bank balance: $72,724       Adjusted book balance:  $72,724

3 0
3 years ago
Mofro's Computer Repair Shop started the year with total assets of $300,000 and total liabilities of $200,000. During the year,
azamat

Answer:

The change in stockholders' equity was of 150.000

Explanation:

With the amount of sales and expenses of the year, the company had a profit of 200.000, if it pay dividends by 50.000, it means that the company  retained earnings for 150.000, this is the change in the equity of the company and keep in cash in the total assets.

8 0
2 years ago
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