Calculate the amount and the percent of total. Do not round intermediate calculations. Round the monetary values to the nearest cent and percentage values to two decimal places.
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I understand the cost classification, but not the total amount and percent of total. Thanks!
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- Hi! What is the data flow diagram of this process? Vendors send invoices to the AP department where they are reviewed and approved for payment. Once approved, the invoice and a cash disbursement voucher are sent to the cash disbursement department, where a check is prepared and sent to the vendor. A copy of the check, the invoice, and the voucher are returned to the AP department and filed.There are four reports used by the credit and collections department those are credit level report, receivable aging report, bad debt report, and customer profitability report. Explain the importance of those reports in the effective performance of the credit and/or collection. Discuss the benefits of the credit policy to (a) the credit department and (b) customers.There are four reports used by the credit and collections department those are credit level report, receivable aging report, bad debt report, and customer profitability report. Explain the importance of each reports in the effective performance of the credit and/or collection.
- Accounting QuestionSubject: Accounting Information SystemQuestion: What would be the correct system flowchart for this given process: Accounts Payable and Cash Disbursement Process:Vendors send invoices to the AP department where they are reviewed and approved for payment. Once approved, the invoice and a cash disbursement voucher are sent to the cash disbursement department, where a check is prepared and sent to the vendor. A copy of the check, the invoice, and the voucher are returned to the AP department and filed.Which one of the following best defines the term credit scoring? A. Categorizing customers into groups depending on the length of time it takes each customer to pay for purchases B. Compiling a list of accounts receivable segregated by the length of time each receivable has been outstanding C. Evaluating the opportunity costs of a credit policy D. Process of quantifying the probability of default when granting credit to customers E. Tracking of both the number and the size of customer orders over a period of time
- Question: The credit worthiness of a customer is normally checked by the organization's Credit Control Department, before any credit sales is approved. reqiured: state why this process is important?You are developing the policies and procedures in relation to credit sales. What processes would you include in relation to preparing invoices, preparing journal entries for these invoices, authorising these journal entries and filing invoices for auditing purposesDATA FLOW DIAGRAM-CASH DISBURSEMENTSPrepare a data flow diagram that reflects the activities presented in theprocess outlined in this Problem. SYSTEM FLOWCHART APUsing the format presented in Figure 2-4 in the text, develop a similarflowchart for the process of paying vendor accounts payable.The Process: Vendors send invoices to the AP department where they are reviewed and approved for payment. Once approved, the invoice anda cash disbursement voucher are sent to the cash disbursementdepartment, where a check is prepared and sent to the vendor. A copy ofthe check, the invoice, and the voucher are returned to theAP department and filed.
- Consider the following internal controls associated with an evaluated receipts process. For each control, identify the assertion for which the control is designed to prevent, or detect and correct misstatements. a. b. C. d. e. f. g. h. Software generates a daily report comparing the daily total in the cash disbursements journal with the total of payables submitted to the third-party payment processor for payment, and discrepancies are reported. Software generates a daily report of any discrepancies between the vendor accounting coding and general ledger accounts coding, which is compared with the purchase order and purchase requisition. Software generates a daily report of any discrepancies between the recorded payable and quantities on the receiving report. Once a receiving report is matched with a purchase, it cannot be matched with another purchase. Software generates a daily report of receiving reports that have not been matched one-for-one with the recording of a purchase and a…The credit bureau score model of credit scoring examines: Group of answer choices D. In-house data collected A. Credit card data collected from several banks B. Applicant profile C. FICO scoresWhich of the following tests is directed towards the management assertion of completeness of sales? Question 19 options: 1) Checking mathematical accuracy of invoices. 2) Vouching sales recorded to invoices held. 3) Tracing delivery documents to invoices and sales recorded. 4) Vouching invoices to delivery documents. Next Page