Answer:
d. $80
Explanation:
The computation of the other current assets is shown below:
= Total assets - Net Property, Plant, & Equipment - cash - Accounts Receivable - inventory - Other Current Assets
= $1,870 - $1,080 - $90 - $210 - $410 - Other Current Assets
= $80 - Other Current Assets
So, the other current assets would be $80
And, we know that
Total assets = Total liabilities + total stockholder equity
So,
Total assets = $1,870
Answer:
1)Weakness:
Cashiers are not bonded and background checks are not conducted
Principle Violated:
Human resource Controls
2)Weakness:
Inability to establish responsibility for cash on a specific clerk
Principle Violated :
Establishment of responsibility
3)Weakness:
Cash is not adequately protected from theft
Principle Violated :
Physical Controls
4)Weakness:
Cash is not independently counted
Principle Violated :
Independent internal verification
5)Weakness:
The accountant should not handle cash
Principle Violated :
Segregation of duties
Answer:
government is the corret answer
Answer:
Journal Entry
May 3
Dr. Allowance for doubtful accounts $2,800
Cr. Account Receivable $2,800
Explanation:
When a receivable of the business is considered to be non-collectible from a customer, it is written off from the accounts. This event will decrease the account receivable balance and allowance for the doubtful accounts too. a Debit entry in the Allowance for doubtful account and a credit entry in accounts receivable is made to incorporate the effect of this transaction.
Answer:
Explanation:
The net assets would increase. This is because the $100,000 earnings from investments are additional cash inflows hence an increase in current assets. For the $3,000,000 if invested, it will be considered an asset. It is a cash donation invested to generate earnings for the non-profit organization. Thus, these two instances add onto the net asset value of Lifeworks.