effective controls to ensure that the business has the lowest risk rate possible. The lower the risk‚ the less likely that fraud would occur. In this analysis‚ Learning Team B will provide a proposal for appropriate controls to cover cash‚ sales‚ accounts receivable‚ inventory‚ and production. The team will discuss some prevention techniques to reduce these risks and make recommendations in areas that will help controls within the organization. Cash Controls Internal controls for cash is essential to
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Economics 419: Managerial Economics Purdue University – Spring 2015 Professor: Bob Holland Office: TTh 8:30 – 10:30 a.m. Krannert 425 W 2:00 – 4:00 p.m. hollandr@purdue.edu Teaching Assistant: Stanton Hudja Office: MW 4:30 – 6:00 p.m. Krannert B024D F 8:00 – 11:00 a.m. shudja@purdue.edu Undergraduate Teaching Assistant: Jiaqi Zhou Office: MW 4:00 – 6:30 p.m. Krannert 469 zhou406@purdue.edu
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company issue a share having face value of Rs 10 at Rs 8 Give two examples of ‘Capital receipts’. Give two circumstances in which sacrificing ratio may be applied (1) (1) (1). (1) (1) Show how you would deal with the following items in the final accounts of a club: (3) Debit credit Prize fund Prize fund Investments 1‚20‚000 Income from Prize fund Investments Prizes awarded 9000 Q7. 1‚20‚000 12000 A‚B and C are partners sharing profits and losses in the ratio of 1 : 2: 3. They have omitted interest
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chart of accounts? Chart of accounts (COA) is a list of the accounts used by an organization. The list can be numerical‚ alphabetic‚ or alpha-numeric. The structure and headings of accounts should assist in consistent posting of transactions. Each nominal ledger account is unique to allow its ledger to be located. The list is typically arranged in the order of the customary appearance of accounts in the financial statements‚ profit and loss accounts followed by balance sheet accounts. It is
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Fixtures and fittings $000 $000 250 100 350 Current Assets Stock Debtors Cash Current Liabilities Creditors for supplies Accruals Bank 1540 820 3 2363 1210 192 203 1605 758 1108 25 910 Share capital – Ordinary shares Retained profits Loan accounts – Bracket Racket 104 69 173 1108 The company accountant resigned at the beginning of April 2002 and proper records were not kept for the six-month period 1 April to 30 September 2002. The following information is available for that six-month period
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Should we eat sharks’ fins? Shark’s fin soup is a delicacy which is enjoyed by many people around the world‚ especially the Chinese as they believe that it symbolizes wealth‚ honour and respect. However‚ the practice of cutting off sharks’ fins alive and then throwing them back into the sea had caused increasing awareness and ire of animal rights and environment advocates. Statistics have estimated that one hundred million sharks are killed every year‚ not considering the fact that these numbers
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Fin 350 Exam 2‚ Fall 2010 Name ___________________________ This has answers to the problems which I believe‚ but cannot guarantee‚ are correct. 1. Under certain conditions‚ a particular project may have more than one IRR. One condition under which this situation can occur is if‚ in addition to the initial investment at time = 0‚ a negative cash flow occurs at the end of the project’s life. a. True b. False 2. The modified IRR (MIRR) method has wide appeal to professors‚ but most business
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Standard reports that Disney has decided to take the shark’s fin soup off its wedding banquet menu. However‚ its hotels will still serve it on request after educating customers about the threat to sharks. The company plans to distribute pamphlets which detail the environmental impact of killing sharks‚ how they are killed and how the fins are harvested to customers who insist on having the soup. Disney also says it will only source shark’s fins from “reliable and responsible suppliers” that adhere to
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inventories amounted to RM 2‚000 on cash from Bedah Sdn Bhd 5 The owner contributed another additional RM 10‚500 cash at bank 6 Owner took goods worth RM 1‚000 for personal use 7 Bought goods by cash at bank from Hamidah for RM 1‚500 9 The business purchased goods from Senang Enterprise on credit amounting RM 14‚700 11 Withdrew cash RM 100 and goods for RM 600 12 Purchased goods on credit from Mr. Badrul RM 5‚000 and Mr. Jalil RM 3‚000 14 Sold goods to Namikah amounting
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Transactions Show Journal entries to record the following transactions. Post them into appropriate Ledger Accounts and then extract a Trial Balance on 31st December‚ 2012: 2012 Jan 1st: Commenced business with cash Rs 1‚00‚000. Jan 10th: Bought office equipment worth Rs 40‚000. Jan 25th: Purchased goods worth Rs 25‚000; less 10% trade dis. on credit from Rahul. Feb 4th: Purchased office stationary worth Rs 500. Feb 9th: Paid premium for fire insurance Rs 5‚000 Feb 20th: Sold goods on
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