Week 3 Assignment from the Reading
Jessica Pipito
ACC/340
February 25, 2015
Prof. David De La Calzada
Week 3 Assignment from the Reading
Case Analysis 8-17
Weakness
Recommended Improvements
Same Person collects daily fees and deposits the cash and files the wavier forms
There should be one person (A) that has visitor fill out the forms and files them, also keeping a tally of the number each day. And a second person (B) collects the cash and deposits it into the lock box.
The accountant deposits the cash at the bank and makes the journal entry
The manager at the end of the night could deposit the cash, and the next morning the accountant could make the journal entry.
No one checks the number of wavier forms filled out against the
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Employees are required to take vacation and they should be cross-trained to cover each other’s jobs when they are out.
d.) The Blue Mountain Utility Company was having difficulty with its customer payments. The payment amounts were entered directly into a terminal, and the transaction file thus created was used to update the customer master file. Among the problems encountered with this system were the application of customer payments to the wrong accounts and the creation of multiple customer master file records for the same account.
They should be matching the invoice number and account numbers; this review should catch the error. Another control is the customers reviewing their statements to make sure that they are not being over charged, ect.
e.) The Landsford brothers had lived in Center County all their lives. Ben worked for the local mill in the accounts payable department, and Tom owned the local hardware store. The sheriff couldn’t believe that the brothers had created several dummy companies that sold fictitious merchandise to the mill. Ben had the mill pay for this merchandise in its usual fashion, and he wrote off the missing goods as ‘‘damaged inventory.’’
Access control to create new vendors, and vendor approval procedures is a good control.
Problem 9-16 Identify one or more control procedures (either general or application controls, or both)
| The business itself does not retain any profits. 100% of profits remain with the owner and is considered personal income.
According to the text, __________ refers to biochemical or genetic changes that cause cell mutations and that account for predictable for age-related diseases.
Memory is a powerful concept. Often when an individual undergoes a traumatic situation, the ramifications of these actions seep into an individualfs psyche unknowingly. In effect this passes through memory and becomes sub-consciously buried within a personfs behavioural patterns generally. The Reader by Bernhard Schlink explores the concept of a young mans subconscious desire for a woman whom he gcanft remember to forgeth (1Memento) as she is so deeply inlaid within his soul.
It follows a strong internal control system for cash. A separate person is appointed to approve all purchases, payroll and any disbursement of cash. At the end of each month company prepares bank reconciliation statement to reconcile cash book balance and bank statement balance. Company keeps proper inventory record system. All these prevent frauds and ensure smooth functioning of the business.
Lau, T., & Johnson, L. (2013). The legal and ethical environment of business. (1st ed., p. 11.2-11.5).
Feelings are an abstract concept that takes children time and experience to understand and deal with in a socially acceptable manner. These activities have served to give the children in my class the foundation and the words needed to express their feelings. I can also use this strategy to remind children that emotions are okay, that words have power, and they now have the words.
The Age Discrimination in Employment Act (ADEA) passed in 1967. It was intended to protect the older half of the workforce from age discrimination in the workplace. Several of the major provisions of the ADEA include: protecting what a worker has earned in his/her tenure, allowing workers to oppose practices that are considered unlawful by the ADEA without consequence, and prevent employers and employment agencies from discriminating
Income Taxes- Taxes are paid as income tax, unless the limited partnership is classified as a corporation by the IRS for tax purposes. In order to keep from being taxed this way, you would have to stick solely to the contract as written, and keep away from operating outside of the agreement.
4. In a _____ essay, all supporting details clearly relate to the thesis. (Points : 5)
| Received cash of $15,000 and land valued at $10,000 from Jennifer Royall as an investment in the business.
This essay originally titled Studying Literature in Grade 12, has an abundance of information regarding and convincing the readers that the grade twelve English course should be composed of Canadian literature. The grammar in this essay however, was weak. The subject did not agree to their pronouns, making many sentences awkward. Overall, improvements could have been made. Some of these include MLA format, the title, introduction paragraph, grammar, punctuation and the citation format.
Offer- This is defined as a clear manifestation of willingness to enter an agreement made by another person with full understanding that their assent to the bargain is an invitation and is concluded.
The recommendation is for this task to be a separate duty from the person who receives the income. This will prevent any occupational fraud. Once income is received on the invoices, the deposit must be recorded into QuickBooks. This step removes the money from the undeposited funds account on the balance sheet and records the income in the general ledger account, associated with the bank account. After receiving the bank statement, begin the reconciliation by verifying that each deposit on the bank statement matches exactly to the bank deposits that were recorded into QuickBooks. Conversely, verify that all deposits recorded into QuickBooks, have cleared the bank statement. If there are any remaining deposits on the bank statement or in Quickbooks, then further investigation will be
thus minimizing the amount of currency that the Company has on hand at any point in time during the week. Additionally, the use of the bank on the daily basis facilitates the control of cash because it creates a double record of all bank transactions - one by the Company and one by the bank. Also we recommend that all receipts be deposited in the
4. Helen and Clara are twins. none of (Ingen av) them are interested in fashion.