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kirill [66]
2 years ago
5

In the audit of notes payable, an auditor testing the ASB balance assertion of accuracy and valuation most likely would: _______

_
a. read directors' and finance committee's minutes for authorization of financing transactions.
b. select a sample of paid notes and trace interest expense to the general ledger account.
c. select a sample of paid notes and recalculate interest expense for the period under audit.
d. select a sample of notes payable and vouch cash receipt to the bank statement.
Business
1 answer:
MariettaO [177]2 years ago
6 0

Answer:

I think it's c

Explanation:

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eally Great Corporation manufactures industrial−sized landscaping trailers and uses budgeted machine−hours to allocate variable
Anton [14]

Answer:

$7.60 per unit of output

Explanation:

Budgeted output units 51,000 units

Budgeted machine−hours 10,200 hours

Budgeted variable manufacturing overhead costs for 51,000 units $387,600

budgeted variable overhead cost per unit of output = $387,600 / 51,000 units = $7.60 per unit of output

In this case, the applied variable overhead rate = 35,750 units x $7.60 = $271,700, which would have been under-applied since the actual variable overhead costs were much higher, $328,900.

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The debt-to-income (DTI) ratio of a borrower is used to compare to the borrower's gross monthly income.
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Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual i
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Answer and Explanation:

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(Being purchased on account)

2. Inventory $50

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(being freight paid)

3. Accounts Payable $51

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(being the returned calculator is recorded)

4. Accounts Receivable $670

       To Sales Revenues $670

(Being sales is recorded)

5. Cost of Goods Sold $460

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(Being cost of goods sold is recorded)

6.  Sales returns $40

         To Accounts Receivable $40

(being sales return is recorded)

7. Inventory $28.20

      To Cost of Goods Sold $28.20

(Being cost return is recorded)

8. Accounts Receivable $780

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(Being the sales is recorded)

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