Give me 2 paragraphs on how auditors manage their day to day tasks
Q: 3
A: The average rate of return is the average annual amount expected from an investment. Calculating it…
Q: Which of the following accounts is debited to record the payment of employees' state income tax…
A: The objective of the question is to identify the correct account that is debited when recording the…
Q: A company has $103,000 in outstanding accounts receivable and it uses the allowance method to…
A: Step 1: Required allowance for doubtful/uncollectible accounts If the company is using percentage of…
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A: Step 1: Introduction to ratio analysisRatio analysis is a method used to analyze financial…
Q: Am. 104.
A: Step 1:Moving-average cost per unit for January 1 (Beginning Inventory).January 1 (Beginning…
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A: The objective of the question is to determine by how much the sales of Diamond, Inc. would need to…
Q: Compute the Cost of Goods Sold for a retail merchandiser with the below information: Yard…
A: Note: I supposed the definition given for cost of goods sold at the bottom part is not for a…
Q: bvs.1
A: Step 1: Compute the amortization for copyright and patent Copyright Patent Purchase price…
Q: Table 1. Estimated cost of ‘Sunbeam’ appliances at Coles’ selected stores. Costs $…
A: Step 1: Establishing the Basic Financial Framework for AnalysisThe initial step is to calculate the…
Q: At September 1, 2010, Kern Enterprises reported a cash balance of $45,000. During the month, Kern…
A: Step 1: Introduction to Disbursements of Cash:Disbursements of cash mean the payment of the cash to…
Q: None
A: To begin, the 3-Year Moving Average technique is a methodology that is often used in the field of…
Q: Depasquale Corporation is working on its direct labor budget for the next two months. Each unit of…
A: The objective of the question is to calculate the total combined direct labor cost for the two…
Q: The Games Company produces a specialty football item, and has the following information available…
A:
Q: The Cook Corporation has two divisions--East and West. The divisions have the following revenues and…
A: Current Financial Summary:East Division Net Operating Income: $65,000West Division Net Operating…
Q: What amount of money must be invested today in order to grow to $2,000 in 3 years at an interest…
A: Given information, Future value (FV) = $2,000Time (t) = 3 yearsAnnual interest rate (r) = 5% or…
Q: The adjusted trial balance for the year of Dreamer Corporation at July 31, 2021, follows. (Click the…
A: Certainly! Let's break down each financial statement and what they represent:Income Statement:This…
Q: Clipboard 2. RCB Manufacturing Inc. is a manufacturer of after-market auto parts. It is the end of…
A: Part 2: Explanation:1. The first step in addressing the yearend adjusting entries is to calculate…
Q: Federal Income Tax Withholding Bob Browning's weekly gross earnings for the present week were…
A: Part 2: Explanation- Step 1: Calculate Bob Browning's taxable income by subtracting the standard…
Q: Retrospective restatement usually is appropriate for a change in: Accounting Estimate Accounting…
A: Retrospective restatement usally is appropriate for a change in Accounting principle but not in…
Q: Comans Corporation has two production departments, Milling and Customizing. The company uses a…
A: Step 1:Computation of the total estimated manufacturing overhead cost in Customizing…
Q: Net Present Value-Unequal Lives Dakota Mining Company has two competing proposals: a diamond core…
A: Net Present Value (NPV) is a financial metric used to evaluate the profitability of an investment by…
Q: A firm evaluates all of its projects by applying the NPV decision rule. A project under…
A: Step 1: The calculation of the NPV ABCDEF1YearCashflowPVF @ 11%PVF @ 25%PV @ 11%PV @ 25%20…
Q: Please fill out these charts
A: Step 1:Answer 2a.Computation of the total product cost per unit under the variable costing:Per unit…
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: Revenue Section:- Sales: $159,500- Sales Returns and Allowances: $1,400- Sales Discounts: $4,160-…
Q: Tuku limited issued a 5% K70 million bond on 1/1/2018. The bond attract an issue costs of 10% as…
A: Initial Recognition (1/1/2018):Cash received from the issuance of the bond: K70,000,000Issuance…
Q: The bookkeeper entered an adjusting entry as DR. Depreciation Expense and CR. Cash. Further…
A: 1. Establish pairings of account titles of certain transactions, and unusual pairings of account…
Q: A distribution of money is made from an S corporation to its sole shareholder. Determine the tax…
A: Distribution of $50,000:The entire distribution of $50,000 is treated as a non-taxable return of…
Q: A5
A: Actual hours = 3,300 Standard Hours allowed = Standard DL Hours per unit × Units Manufactured = 3 ×…
Q: The Donut Stop acquired equipment for $26,000. The company uses straight-line depreciation and…
A: Step 1. Calculate the Original Depreciation Expense (Year 1 and 2)Given:Cost: $26,000Residual Value:…
Q: Crane Corporation issued 2,000 $1,000 bonds at 101. Each bond was issued with one detachable stock…
A: Step 1: Calculate the total cash received from selling the bonds and the total value of the…
Q: please answer in text form and in proper format answer with must explanation , calculation for each…
A: Explanations: Answer 1. Annual cost savings:- Reduction in welding crew costs: $114,000- Reduction…
Q: Domestic accounting standards developed to meet the needs of domestic environments. Which of these…
A: Define the business environment:The business environment can be defined as the summation of all the…
Q: Based on the following, what is the total direct materials variance? Total Product Cost Flexible…
A: To calculate the total direct materials variance, you need to combine both the Direct Materials Cost…
Q: A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED…
A: Step 1:The operating activities section of the statement of cash flows using the indirect method is…
Q: on january 1, 2005, the knowshon moreno company issued 200,000 bonds, each bond with a face value of…
A: Certainly! Let's break down the information provided and explain the calculations:1. **Bonds…
Q: The following section is taken from Oriole Company's balance sheet at december 31, 2021. Current…
A: for more information ping me, Happy learning.
Q: Instructions Nakajima Company provides its employees with vacation benefits and a defined…
A: Step 1: Figure Out What It Will Cost: Find the costs associated with pension benefits and vacation…
Q: On January 1, 2024, the general ledger of Grand Finale Fireworks includes the following account…
A: Closing entries are only required for income statement accounts (revenue and expenses), which are…
Q: Which of the following is not tax deductible? Gift tax Local income tax Real estate tax…
A: The objective of the question is to identify which among the given options is not tax deductible.…
Q: On June 1,2023 , JetCom Inventors Inc. issued a $560,000 8%, three-year bond. Interest is to be paid…
A: Step 1:We have to calculate the issue price of the bond. The formula of the present value:Present…
Q: On January 1, 2024, the general ledger of Grand Finale Fireworks includes the following account…
A: Closing entries are required only for income statement accounts - revenue and expenses. These are…
Q: The records of the Dodge Corporation show the following results for the most recent year: Sales…
A: Step 1: Contribution margin Contribution margin = Sales - Variable expensesContribution margin =…
Q: a- Find the radius r₁ of the electron in the ground state orbit of doubly ionized potassium which…
A: Step 1: Given : Atomic number Z= 19 Step 2: Formula : Radius of electron in ground state orbit…
Q: Atreides International has operations in Arrakis. The balance sheet for this division in Arrakeen…
A: The problem pertains to the Currency Exchange Rate. An exchange rate is a rate at which one currency…
Q: Cash and cash equivalents Accounts receivable Inventory Prepaid insurance Stock investments…
A: The most appropriate answer for the question based on the provided information is:$593,500 This can…
Q: Provide 7 entries in worksheet
A: DATENOTESMay 3We simply debit inventory or merchandise inventory then credit cash, $9000.May 5For…
Q: Explain why consistency is important in financial reporting.
A: Consistency in Financial reporting means applying the same accounting principles, methods and…
Q: During the year ended 30 September 20X6 Hyper entered into two lease transactions: On 1 October 20X5…
A: The objective of the question is to calculate the total amount that would be charged to Hyper's…
Q: Wildhorse Company uses the weighted-average process cost system. The Molding Department adds…
A: Step 1: Calculate adjustments for each item for 2020 and 2021:Prepaid insurance, interest…
Q: As part of his cost-reduction efforts, Fletch is interested in reducing labor costs. He asks you to…
A: Before you can begin the process of establishing the direct labor budget for MAN-5 staff, you will…
Give me 2 paragraphs on how auditors manage their day to day tasks
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- Discuss any four factors that an accountant would consider when selecting a data input device that they can use to perform their daily taskOutline from your own understanding the roles of the following people in information system audit department: a) The Executive. b) IT Department. c) Your d) UserDescribe how data analytics can be used during an external audit of a company's financial statements. Be specific and provide 4 examples?
- Which of the following is an example of an input control? a.making sure report that are distributed to the proper people b.monitoring the work of data entry clerks. c. Collecting accurate statistics of historical transactions while gathering data. d. Performing a check-digit test on a customer acount number e.Having anothr person review the design of a business formQ2. What is operational audit? List five examples of specific operational audits that could be conducted by an internal auditor in a manufacturing company?Give me 2 solid paragraphs as to why communication is important as an auditor
- Can you tell us what accounting will be used to evaluate each of the responsibility centers?i. Briefly inform these stakeholders of the benefits of automation on the current business processes within the organization, specifically referencing the benefits of using a spreadsheet solution and how easy it was to process data to derive the information presented in the report. ii. Give a brief analysis of the data found in the chartCan you explain some impacts of implementing software-based AIS (Accounting Information System) on the different departments and processes in the picture below.
- Give and explain three examples of how data analytics can be useful to an accountantQuestion based on Accounting Information System subject 5. What are the levels of data hierarchy ?6. Distinguish the roles of internal and external auditors7. Distinguish between the centralized and distributed approaches to organizing the IT function.Include examples of the type of information and reports the management accountant can provide.