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Alex_Xolod [135]
3 years ago
6

Vaughan Services hires a new accountant to maintain its petty cash fund. Although the employee possesses an accounting​ degree,

he/she had been previously convicted of embezzlement. Which internal control procedure needs to be addressed in this​ situation?
Business
1 answer:
timama [110]3 years ago
5 0

Answer: Competent, reliable, and ethical personnel.

Explanation:

Vaughan Services needs to follow competent, reliable and ethical personnel procedure to addressed this type of situation.

Competent characteristic tell us about the employee skills, knowledge and capability or ability of doing some work successfully.

Reliable characteristic tell us about the employee performance, quality and trustworthy or not.

Ethical personnel tells us about the employee's behavior towards the other people, responsibilities towards work and how much he is committed towards work.

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At the beginning of the month, the Painting Department of Skye Manufacturing had 30,000 units in inventory, 70% complete as to m
VikaD [51]

Answer:

Cost per equivalent unit of material =  $2.20 per unit

Cost per equivalent unit of conversion =  $4 unit

Explanation:

The computation of Cost per equivalent unit of material, Cost per equivalent unit of conversion is shown below:-

For computing the cost per equivalent first we need to find the equivalent unit of material which is below:-

= Transferred units + ( Department units × Material percentage)

= 135,000 + (20,000 × 40%)

= 135,000 + 8,000

= 143,000

So, the Cost per equivalent unit of material = (Beginning material cost + Current month material cost) ÷ Equivalent unit of material

= ($32,400 + $282,240) ÷ 143,000

= $314,640  ÷ 143,000

= $2.20 per unit

Now, For computing the Cost per equivalent unit of conversion first we need to find the equivalent unit of conversion cost which is below:-

= Transferred units + ( Department units × Conversion percentage)

= 135,000 + (20,000 × 15%)

= 135,000 + 3,000

= 138,000

So, the Cost per equivalent unit of conversion = (Beginning conversion cost + Current month conversion cost) ÷ Equivalent unit of conversion cost

= ($6,250 + $544,700) ÷ 138,000

= $550,950  ÷ 138,000

= 3.99

or $4 unit

8 0
3 years ago
Which industry began to form in the 1930s? the railroad industry the cruise ship industry the airline industry the Disney resort
sasho [114]
The answer is airline industry.
The first passengers airlines actually first created in 1919, but at that time, the amount of money involved still hasn't big enough to be considered as industry.
The market for airline started to show a promising future in 1930s, where  they started to obtain more than 6,000 consumers per year. 4 Years after that, they started to obtain a staggering increase to 450,000 consumers per year.
6 0
3 years ago
he following information pertains to Benedict Company. Assume that all balance sheet amounts represent average balance figures.T
ra1l [238]

Answer:

b. 14.0%

Explanation:

NET INCOME  

Sales  $ 100.000

Net Income  $ 25.000

Preferred Stock  -$ 4.000

Net Income to Stockholders' equity—common $ 21.000   14%

Net Income to Stockholders         $ 21.000

                                                      ===========  =   14%

Stockholders' equity—common    $ 150,000

5 0
3 years ago
Where could student researchers and/or student subjects find additional resources regarding the IRB approval process? Select all
maksim [4K]

Answer:

The correct answer to the following question will be Option D (IRB Office).

Explanation:

  • By federal, state, and local ordinances, college strategies, or professional ethics, the IRB office enables the MSU processes. IRB board members are allocated incoming application forms, mainly based on the Principal Investigator's College or Department, subject to availability and work load.
  • The IRB office's mission is to promote IRB review procedures, provide support to help adherence with relevant federal, local, and state regulations, university processes and procedures, and to protect human subjects, and provide researchers with prompt, client-oriented service.

Therefore, Option D is the right answer.

7 0
3 years ago
Countess Corp. is expected to pay an annual dividend of $5.05 on its common stock in one year. The current stock price is $77.75
Alex_Xolod [135]

Answer:

Cost of equity = 10.10%

Explanation:

<em>Cost of equity can be ascertained using the dividend valuation model. The model states that the price of a stock is the present value of future dividends discounted at the required rate of return.  </em>

Ke=( Do( 1+g)/P ) + g  

g- growth rate in dividend, P- price of the stock, Ke- required return, D- dividend payable in now

DATA

D0- (1+g) = 5.05

g- 3.60%

P- 77.75

Note that the D0× (1+g) simply implies the dividend expected in year one, that is one year from now. And this has been given as 5.05 in the question, hence there is no need to apply the growth rate again.

Cost of equity = (5.05/77.75   + 0.036)×  100= 10.095%

Cost of equity = 10.10%

5 0
3 years ago
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