The following is not a primary component of an internal control system <u>Control environment .</u>
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The primary cause of inner controls is to assist safeguard an corporation and further its objectives. internal controls characteristic to limit risks and shield property, make certain accuracy of facts, sell operational efficiency, and inspire adherence to policies, rules, regulations, and legal guidelines.
Internal controls are techniques designed to help guard an enterprise and limit danger to its objectives. inner controls decrease risks and guard belongings, ensure accuracy of statistics, sell operational performance, and encourage adherence to policies, policies, policies, and laws.
Determining whether a specific internal manage machine is effective is a judgement because of an assessment of whether the five additives - manage surroundings, risk assessment, manage sports, information and communique, and tracking - are present and functioning.
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Answer:
The recognized gain is $2000
Explanation:
The carrying value of the cab sold is the difference between the original cost of $23,000 and the accumulated depreciation of $16,000, hence, carrying value is $7000($23000-$16,000)
The cash proceeds from the disposal of then cab are $9000
Gain on disposal of cab=$9000-$7000
Gain on disposal of cab=$2000
Answer:
The cash effects of transactions that create revenues and expenses are operating activities.
Explanation:
Operating activities are useful to stable the business and they are mostly based on cash transactions. Business need cash for their daily operational activities.
Answer:
a. Interest Revenue
Identification: Asset
Increases with: Debit
Normal Balance: Debit
b. Accounts Payable
Identification: Liability
Increases with: Credit
Normal Balance: Credit
c. Calhoun, Capital
Identification: Equity
Increases with: Credit
Normal Balance: Credit
d. Office Supplies
Identification: Asset
Increases with: Debit
Normal Balance: Debit
e. Advertising Expense
Identification: Liability
Increases with: Credit
Normal Balance: Credit
f. Unearned Revenue
Identification: Liability
Increases with: Credit
Normal Balance: Credit
g. Prepaid Rent
Identification: Asset
Increases with: Debit
Normal Balance: Debit
h. Utilities Expense
Identification: Liability
Increases with: Credit
Normal Balance: Credit
i. Calhoun, Withdrawals
Identification: Equity
Increases with: Debit
Normal Balance: Debit
j. Service Revenue
Identification: Asset
Increases with: Debit
Normal Balance: Debit
Answer:
a. 10+5-19
b. 15-19=-4
Explanation:
This problem can be solved with a very simple rule that is, Bodmas stands for "brackets, orders, division, multiplication, addition, subtraction". if integers contain brackets ((), {}, []) then first solve bracket then powers and roots etc., then division, multiplication, addition and subtraction from your left to right.
PEMDAS is very similar to BODMAS and used in the USA.
PEMDAS means Parentheses, Exponents (powers and roots), Multiplication and Division, Addition and Subtraction.
