Answer:
Recall the components of internal control. Identify the internal control weakness in this situation, and propose a way to correct it.
Recall the components of internal control. Identify the internal control weakness in this situation, and propose a way to correct it
The internal control weakness is that the credit department receives incoming cash from the customers.
With access to cash,
a credit department employee can pocket
cash received from a customer
destroy the remittance slip
The credit department can then write-off the customer's account as noncollectable, and the company will stop pursuing collection from the customer
Explanation:
Answer:
D. how much the person has borrowed compared to how much he or she earns
Explanation:
A person's debt-to-income ratio, abbreviated as DTI, is a measure of a person's monthly debt obligation against their monthly gross income. It shows the fraction or percentage of gross income that is committed to debt repayments. Lenders use the debt-to-income ratio to assess a borrower's ability to repay future loans.
Calculating the debt-to-income ratio requires one to add up all their existing loan repayments and divide that figure with their gross income. Lenders insist on a ration that does not exceed 36% as per the 28/36 rule.
Answer:
If you had purchased 10 shares of GoPro at the IPO (Initial Public Offering) on June 26, 2014 at 31.34, you would have spent <u>$313.40</u>.
If you were more of a “gambler” than an “investor”, and you saw the market shoot up for GoPro and hit 86.97 just 3 months later and decided to SELL, you would have recognized a capital gain of <u>$869.70 - $313.40 = $556.30</u>.
This would have resulted in a YIELD of <u>($556.30 / $313.40) x 100 = 177.5%</u>.
Let’s say you hung on to your 10 shares of GoPro, believing that it would get even better. Today it is listed at 4.42. If you were to sell, you would recognize a loss of <u>$44.20 - $313.40 = -$269.20</u>.
This would result in a YIELD of <u>(-$269.20 / $313.40) x 100 = -85.9%</u>.
The average annual yield for 5.5 years would then be <u>-12%</u>.
Look up GoPro today. GoPro currently trading at <u>$8.63 (January 7, 2021)</u>.
Explanation:
1 + 0.859 = (1 + r)⁵°⁵
⁵°⁵√1.859 = ⁵°⁵√(1 + r)⁵°⁵
1.12 = 1 + r
r = -0.12 (since the yield was negative, r must be negative)
Answer:
$1,058,000
Explanation:
Calculation to determine the balance in the investment account on December 31, 2021
Using this formula
December 31, 2021 Balance in the investment account=Voting common stock-Net loss-Dividends
Let plug in the formula
December 31, 2021 Balance in the investment account=$1,100,000 -(30%*$112,000)-(30%*$28,000)
December 31, 2021 Balance in the investment account=$1,100,000 - $33,600 - $8,400
December 31, 2021 Balance in the investment account=$1,058,000
Therefore the balance in the investment account on December 31, 2021 is $1,058,000