Answer:
The journal entry to record the day's sales would include
Debit Cash $10,648
Debit Cash shortage $32
Credit Sales $10,680
Explanation:
Total Sales is $10,680, so the sales will be recorded by this amount. The cash is $10,648, so it will also be recorded by the same amount. A debit entry will be placed to reflect the effect of this transaction as there is a cash shortage.
<em>Listed below are five (5) risks to accounting information systems:
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<em>1. Authentication risk - when you are working with systems, it is really important to keep authentications and log in materials in safety. Just make sure that nobody will know your log in credentials. You cannot trust anybody either no matter how close you are. Accounting systems holds confidential information thus, you cannot rely on trust alone.
</em>
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2. Security risk - You must also sure that all the person or authorized personnel doesn't leave a copy of the system files anywhere in their personal storages like phones, flash drives, emails etc. Data in the system should be remained in the system. </em>
<em>3. Connectivity risk - system that has multiple users need communication and connections. System cannot work if connection has been interrupted and terminated. You should ensure that all hardware related to connections are working from time to time.
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4. Data privacy risk and concerns - customers are sometimes asking where are their information are stored and how do the company used these information. Companies must be ready to provide privacy documents to make the customer understand on what is happening on their stored information. </em>
<em>5. Compatibility risk - system doesn't always work with all platforms, devices, media and software. Organizations must be aware on what is best the version of phones, desktops, operating systems to use in able for their system to run smoothly.</em>
Answer:
32.44 days
Explanation:
The computation of the average collection period is shown below:
But before that we have to determine the account receivable turnover ratio
So, the account receivable turnover ratio is
= (net sales) ÷ (average of account receivables)
= $25,875 ÷ ($2,400 + $2,200) ÷ 2
= $25,875 ÷ $2,300
= 11.25 times
Now the average collection period is
= Total no of days in a year ÷ account receivable turnover ratio
= 365 ÷ 11.25
= 32.44 days
We assume that the no of days that should be considered is 365 days
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Answer:
D. increase the number of employees and increase inventory
Explanation:
In order to increase sustainability for the next holiday season, it would be important to increase employees so that the workers would not be exhausted. Also, they have to increase inventory to have inputs needed to produce outputs needed for sustainability.
If customers are increased and employees are decreased, it would further increase the pressure on workers. Also, the inventory might be inadequate to cater for the needs of customers
