developed by: Bautista‚ Glenn Mar C. Los Baños‚ Julius B. Nalog‚ Dennis M. after having been presented is hereby approved by the following members of the panel ____________________ ____________________ My Panel 1 My Panel 2 Panelist
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CHAPTER ONE THE PROBLEM AND ITS APPROCH 1.1 INTRODUCTION Effective management of accounts receivable present important opportunities for companies. The primary objective of accounts receivable management is to collect money due and to assist in meeting cash requirement. An effective accounts receivable function can assist in achieving the desired cash flow out come through the timely collection of out standing debts. All companies have an objective of continually improving customer service
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completed the following transactions: Feb 4 Collected $4‚000 cash from a client on account. 8 Performed tax services for a client on account‚ $4‚600. 13 Paid business debt on account‚ $2‚400. 18 Purchased office supplies on account‚ $900. 20 Paid cash dividends of $2‚200. 21 Mitchell paid for a deck for his private residence using personal funds‚ $8‚000. 22 Received $2‚300 cash for consulting work just completed. 2 Paid office rent‚ $500. 29 Paid employee salary‚ $1‚600. Requirements 1. Record
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reason behind it. It currently has a debt-to-equity ratio of 0.66. But‚ the Board of Directors has decided to raise a significant amount of debt to finance the construction of a new manufacturing plant for the Solar-Electro division. This would increase the debt-to-equity ratio‚ which could generate concerns to investors. It is sensible to assess a low acceptable audit risk when the external users rely greatly on the financial statements‚ which is the case in this audit. Likelihood of financial
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Company during January‚ its first month of operations‚ are listed below. Assume that Franklin Company uses the following journals: Cash Receipts (CR)‚ Cash Payments (CP)‚ Revenue (R)‚ Purchases (P)‚ and General (G). Assume that it uses Accounts Receivable and Accounts Payable Subsidiary Ledgers as well as a General Ledger. Indicate by letters which journal would be used for each transaction. Also indicate if the entry requires a posting to a subsidiary ledger. The transactions completed by Franklin
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Unit 5 Assignment Instructions Indicate whether each of the procedures of internal control represents: (1) a strength or (2) a weakness. For each weakness‚ indicate why it exists and what procedures should be put into place to alleviate the risk. For each letter A through H you should have at least a one paragraph answer. a. The bank reconciliation is prepared by the cashier‚ who works under the supervision of the treasurer. I think that this would be weak internal control because
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life cycle. Consider this example. Tell-4-Funds‚ a telemarketing company‚ has recently been contracted by a client to lead a national fundraising campaign. The client would like to have the campaign finished in three weeks‚ in order to begin the next phase of its long-term plan. Tell-4-Funds has just begun the project’s schedule development. It has made the assumption that the telemarketers can create the calling lists in two days and begin
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OF CONTENTS - CHAPTER 11 I. CHAPTER 11 – INVENTORY 1 II. OVERVIEW AND OBJECTIVES 1 A. Overview 1 B. Objectives 1 III. DEFINITION OF INVENTORY 1 IV. INTERNAL CONTROLS 2 V. ESTABLISHING AND MAINTAINING AN INVENTORY 2 VI. VALUING THE INVENTORY 4 A. FIFO 5 B. Weighted Average 6 VII. YEAR-END PHYSICAL INVENTORY 7 VIII. EXHIBITS 8 CHAPTER 11 – INVENTORY The purpose of this chapter of The Guide is to explain the concept of inventory and to discuss the policies‚ guidelines‚ and
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different Business located near the Andi’s Fashion Boutique like Drugstore‚ Beauty Salon and Food House. It was the only boutique in the area. The Andi’s Fashion Boutique started in year of 2010 at month of May. When the Business started‚ they only sell products of Sundance‚ Avon and Natasha. The business arises in one year‚ and earn some Capital‚ from that Capital they maintain and add different kinds of apparel until they selling Shoes‚ Bags‚ Cosmetic and became a distributor of Avon‚ Boardwalk‚ Natasha
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along the way. The problem is introduced when the group is held captive on a ship way ahead of time‚ at least for the 1880’s. The next item we shall discuss is characters. All these characters are fascinating in their own unique way. Starting with Professor Annorax‚ Annorax as he mainly goes by in the story is actually the narrator who is about 40 years
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