Answer:
Insurance expense amount is $500
Prepaid insurance amount is $7,000
Explanation:
The prepaid insurance amounts to $300, on March 31, before the adjustment, that represents the remaining portion of the policy before the renewal. And this amount must have expired by the March 31, as there is only a single insurance policy and which will be renewed on March 1.
The $300 is involves in the insurance expense for the 3 months that ended on March 31, and in addition, 1 month coverage is there.
Therefore, amount of $200 ($7,200/ 36 months), which is involves in the insurance expense for the 3 months. In aggregate $500 of the insurance expense is acknowledged.
Prepaid insurance left out balance on March 31, is $7,000 ($7,200 - $200).
Answer: $292,500,000
Explanation:
The following information can be derived from the question:
Issued bond = $300
Issue discount = 0.50%
Coupon rate = 7%.
Fees paid = 2.0%
The net amount of funds that the debt issue will provide for the firm will be:
= Issued bond price - Discount - Fees paid
= $300m - ($300m × 0.50%) - ($300m × 2.0%)
= $300m - $1.5m - $6m
= $300m - $7.5m
= $292.5 Million
Answer:
1. f. Document Design.
2. e. Computer agreement of batch totals.
3. a. Review shipped not billed sales order.
4. b. Turnaround documents.
5. d. Procedures of rejected input.
Explanation:
The business in todays world has to meet customer demands in order to be successful. It should deliver goods timely and the processing lines should be efficient. The employees should work efficiently and should be able to complete their assigned tasks within time. There should be strict internal controls to avoid errors and frauds. When shipping clerk is unable to read quantity there should be defined document design which clearly shows the quantity in bold on the ticket.
Answer:
D. Inventory larceny scheme
Explanation:
Inventory larceny scheme: It is a scheme of misappropriation or stealing of inventory or any other assets by the employee from the premises of the company without recording the theft in the books of accounts. These assets are stolen to be sold to the third party or for personal use.
There are several non-cash thefts by employees, including inventory or other expensive assets of the company. Misuse of inventory or other asset is also included in a larceny scheme.
In the given case, Ben Rogers asked his sister Dawn to come into the store. When she arrived, Ben put three watches, two fishing reels, and four pairs of sunglasses in a sack and gave it to her, which is a clear case of asset misappropriation and it is called Inventory larceny scheme.
Answer:
$13,130.4
Explanation:
Mean is a measure of average. It is used to calculate the average of a given set of data.
Mean = Sum of Terms/Number of Terms
Monthly Mean Rental Cost = Total rental cost / Number of rents
= ($6,350 + $5,745 + $11,870 + $15,255, + $26,432)/5
= $65652/5
=$13,130.4
