Answer:
Please see explanation
Explanation:
The following journal entry shall be recorded in the accounts of Weld-Rite Company in respect of salaries expense to be accrued as at December 31:
Debit Credit
Salaries expense $3,600
(6,000/5*3)
Salaries payable $3,600
Answer:
1.) The internal controls which were missing are from the separation of responsibilities. There must have been in place an inner regulator were an individual works with advisers while alternative individual or unit take-care of the expense procedure, then somebody else allow expenses and then office should distribute the expenditures. There is an absence of inner controls as you can realize that the corporation amalgamated with a larger corporation and no one measured other accounts such as Jackson and company any longer.
2.) With the lack of control, this offered Helen the chance to effect the fraud. With this presence said, she was talented to emulate sign receipts and spend the retailer’s expenditures. She were also the one in responsibility of office the initial and final of accounts. In short, she had several accountabilities that should have remained separated up better and had diverse individuals for the separations of the job. In addition, she needed a bank description from the corporation where she was capable to put the expenditures and pay individual expenditures.
3.) The method this fraud might be noticed is the inspection squad can ask the bank for reports. They might also conference sellers. The accounting section should have ended sure they were doing the due diligence in dealers and corresponding the receipts with statements and expenditures.
Answer:
are $270 billion
Explanation:
Change in business inventories in 2012 = -$70 billion
GDP of 2012 = $200 billion
Final sales in 2012 = GDP - Change in inventory
Final sales in 2012 = $200 billion - (- 70 billion )
Final sales in 2012 = $200 Billion + 70 billion
Final sales in 2012 = $270 billion
Hence proved that the correct answer is $270 billion
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