Answer:
b) Larceny at the point of sale
Explanation:
Larceny at the point of sale -
It is a type of fraud , where the employee itself steal money from the employer during the point in the business , when is the sale is been made .
This type of fraud is very commonly seen in the retail business .
Same case is shown in the question data , where Jan Ashley , who works for the R & S departmental store , tries to steal money during the sale .
Answer:
Missing word
<em>"Shipping supplies on hand, January 1 of the current year $13</em>
<em>Purchases of shipping supplies during the current year $75</em>
<em>Shipping supplies on hand, counted on December 31 of the current year $20"</em>
<em />
1. Adjusting entry for insurance at December 31 of the current year.
S/n General Journal Debit Credit
a. Insurance expense $870
(6,960/24)*3=$ 600
Prepaid insurance $870
(Insurance expired)
b. Shipping supplies expenses $68
($13+$75-$20)
Shipping supplies $68
(Supplies used)
2. What amount should be reported on the current year's income statement for Insurance Expense?
Insurance expense = $870
Shipping supplies expense = $68
3. What amount should be reported on the current year's balance sheet for Prepaid Insurance?
Prepaid insurance = ($6,960-$870) = $6,090
Shipping supplies as on Dec 31. = $20
Answer:
2012 - 2013
a. Return on equity 26,2% - 25,0%
b. Return on assets 14,0% - 14,3%
c. Return on sales 18,1% - 18,5%
d. Total assets to shareholders' equity 1,88 - 1,75
e. Asset turnover 0,77 - 0,77
Explanation:
2012 2013
TOTAL ASSETS $191.225 $212.440
TOTAL EQUITY $101.975 $121.165
Income Statement 2012 2013
Sales $147.860 163.585
Net Income after Taxes $26.765 30.340
