Answer:
Fraudulent disbursements,
card statement review
Explanation:
Fraudulent disbursements are very common and occur when an employee misappropriates company funds by making inappropriate payments, fraudulent. They are also called on-book frauds and can only be traced by putting systems that keep these practices in check. The most likely way to have caught the employee in the above case was to review the card statement and review purchases made and to what amount the refund from the company's card was made
Can you be more specific with in what context
<span>$20.99 is the price of the box of plant fertilizer. Additionally, $20.99 ends up being 16% off the original price since $25 - $20.99 is $4.01, if you then divide $4.01 by $25 you get 0.16, which is 16% when you multiple by 100.</span>
Answer:
True
Explanation:
Supplies account is a current asset and has a normal debt balance. It is shown on the assets side of the balance sheet under the sub-head 'current assets'.
Given,
Opening balance = $1,500
Purchased supplies = $4,500
Closing balance = $500
Closing balance = Opening balance + Purchased supplies - Supplies used
$500 = $1,500 + $4,500 - Supplies used
Supplies used = $6,000 - $500
Supplies used = $5,500
The used supplies are recorded as an expense for the period. Thus, the supplies (as an asset account) decrease whereas the used supplies (supplies expense account) increase.
Thus, the adjusting entry would be:
Supplies expense Dr. $5,500
To supplies $5,500