An inventory turnover analysis is useful to the internal auditor because it may detect <u>the existence of obsolete merchandise.</u>
Inventory that has reached the end of its useful life is called as obsolete inventory. It has been a while since this inventory was utilized or sold, and it is not anticipated that it will be in the near future. This kind of inventory must be written off or written down and can result in significant losses for a business.
<h3>What is turnover analysis?</h3>
The dynamics of people leaving or remaining in an organization are evaluated using turnover analysis to:
- The causes of people's departures and stays
- The expense of turnover caused by a lapse in company continuity
- How to reduce the danger of present employees leaving the company through turnover
The projected expense of replacing a paid worker ranges from 6 to 9 months of that worker's salary and includes both the direct expense of hiring a replacement and the indirect expense of lost productivity.
The ability of the company to accomplish its objectives and provide for its consumers may be compromised by high turnover. The customer experience can change noticeably even in response to small increases in turnover.
Employee turnover costs are frequently unforeseen and hence not accounted for.
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Answer:
XYZ Company bought real estate properties in Boston 50 years ago for $30,000. In 2020, a real estate appraiser inspects the properties and concludes that their expected market value is $2 million. The company has been using historical accounting principles for the last 50 years.
Explanation:
Answer:
E)excessive markups
Explanation:
the car must was the must to the book
Answer:
condenced income statement
net sales 4699520
cost of sales (3097360)
opening stock 599200
purchase 3120320
returns ( 16800 )
frieght in 80640
closing stock (686000)
gross profit 1602160
other incomes 299040
purchase discount 30240
rent income 268800
expenses (1092448
)
office salary 387520
sales salary 31808
sales discount 38080
commission 92960
selling costs 77280
telephone costs 19040
accounting service 36960
utility costs 35840
insurance 26880
mascellaneous 8960
advertising 60480
delivery costs 104160
casuality loss 78400
depreciation-office 53760
depreciation-sales 40320
operating profit 808752
interest expense 197120 ( 197120
)
profit before tax 611632
tax expense (122326.4)
profit after tax <u>489305.6</u>
Explanation:
To get the net sales we take sales and minus sales return. The unearned sales are not to be recorded until they are earned and its performance obligation is satisfied. The balance sheet items such as common stock, cash do not belong in the statement of comprehensive incomes. T o calculate tax expense we take profit before tax and multiply by the tax rate.
when modifying commercial to meet accessibility requirements, owners should focus their attention on these four areas:
- Providing an accessible approach and entrance.
- The first area of focus is accessible approach and entrance.
- This can include ramps instead of stairways,
1 : a commonly roofed and walled shape built for everlasting use (as for a dwelling) 2 : the art or enterprise of assembling substances right into a shape. Synonyms instance Sentences terms Containing constructing analyze extra approximate building.
A building is a structure that has a roof and walls, for instance, a residence or a factory. They were on the top floor of the building. Crowds amassed across the Parliament building. Synonyms: shape, house, production, living [formal, literary] greater Synonyms of constructing.
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