A fraud examiner can request a business’s bank records even if the business is not legally obligated to comply.a) trueb) false

An adjusting entry was made on year-end December 31 to accrue salary expense of $1,500. Assuming the company does not prepare re

cluponka [151]

Answer and Explanation:

The Journal entries are shown below:-

1. Salary Expense $1,500

To Salary Payable $1,500

(Being salary expense is recorded)

Here we debited the salary expenses as it increased the expenses and we credited the salary payable as it also increased the liabilities

2. Salary Expense Dr, $2,100

Salary Payable Dr, $1,500

To Cash $3,600

(Being cash paid is recorded)

Here we debited the salary expenses and salary payable as it increased the expenses and decreased the liabilities and we credited cash as it reduced the assets

7 0

3 years ago

Wood County Hospital consumes 1,000 boxes of bandages per week. The price of bandages is $35 per box, and the hospital operates

jarptica [38.1K]

Answer:

= $367.34

Explanation:

Economic order quantity (EOQ) is the order quantity that minimizes the balance of holding cost and ordering cost. At the EOQ, the holding costs are equal to the ordering costs.

EOQ = (2× Co× D)/Ch

Total relevant cost of inventory = ordering cost + Holding cost

Step 1

Total cost of inventory under EOQ

EOQ for Wood County

EOQ = 2√(2× 15 × 1000× 52)/(15%× 35)

= 545.10 units

ordering cost =( (1000× 52)/ 545.10 ) × 15 = 1,430.90

Holding cost = ( 545.10/ 2) × 15% × 35 =1,430.90

Total cost =1430.90 + 1430.90= $2,861.81

Step 2

Total cost of inventory using order size of 900 boxes

ordering cost =( (1000× 52)/900 ) × 15 = 866.66

Holding cost = (900/ 2) × 15% × 35 = 2,362.5

Total cost = 866.66 + 2,362.5 = $3,229.16

Step 3

Calculate in savings in total costs

Savings = Difference in total inventory cost of EOQ order size and 900 boxes order size :

=$3,229.16-$2,861.81

= $367.34

Savings = $367.34

3 0

2 years ago

TH Manufacturers expects to generate cash flows of $129,600 for the next two years. At the end of the two years the business wil

arsen [322]

Answer:

Vo = C1 + C2 + V2

1 + k (1 + K)2

Vo = $129,600 + $129,600 + $3,200,000

1 + 0.14 (1 + 0.14)2

Vo = $113,684.21 + $2,562,019.08

Vo = $2,675,703.29

The correct answer is C

Explanation:

The current value of the business equals cashflow in year 1 divided by 1 + K plus the aggregate of cashflow and sales value in year 2 divided by 1 + k raised to power 2.

7 0

2 years ago

What is the purpose of checks and balances in the constitution?

Mumz [18]

The system of checks and balances is an important part of the Constitution. With checks and balances, each of the three branches of government can limit the powers of the others. This way, no one branch becomes too powerful.

7 0

3 years ago

Read 2 more answers

To help understand why attendance at the team's games was so poor, the atlanta falcons used marketing research to gather factual

Nataly [62]

The gathering of factual statements is an example of marketing research in its descriptive role.

The descriptive role of marketing research is focused on the gathering of facts to explain the current situation of a market and/or marketing program.

3 0

3 years ago