1. Provide 3 examples of telltale hints that are indications of a cover-up of fraudulent activity in the accounting records 2.
» #3) Prepare and income statement, statement of owners equty and balance sheet for Rabid Insect based on the information below Salary Expense 28,500.00 1. Provide 3 examples of telltale hints that are indications of a cover-up of fraudulent activity in the accounting records 2. #3) Prepare and income statement, statement of owners equty and balance sheet for Rabid Insect based on the information below Salary Expense 28,500.00 Rent Expense 14,250.00 Insurance Expense 9,500.00 Depreciation Expense 4,750.00 Miscellaneous Expense 1,900.00 Sales Returns/Allowance 5,000.00 Sales Discounts 7,500.00 Cost of Goods Sold 142,500.00 Accts Payable 30,000.00 Note Payable solve Equipment 400,000.00 Accum Depreciation (160,000.00) Accts Receivable 20,000.00 Mdse Inventory 60,000.00 Prepiaid Insurance 10,000.00 Cash 100,000.00 Capital 1/1 (beginning) 187,500.00 Drawing (5,415.00) Cost of Goods Sold 142,500.00 Intereest Expense 1,805.00 Tax Expense 7,220.00 Sales 250,000.00 4) Three identical units of merchandise were purchased during July, as follows: Date Product Basic H Units Cost 3-Jul Purchase 1 35 10 Purchase 1 36 24 Purchase 1 37 Total 3 $108 Average cost per unit $36 Assume one unit sells on July 28 for $45. Determine the gross profit, cost of merchandise sold, and ending inventory on July 31 using the (a) first-in, first-out, (b) last-in, first-out, and (c) average cost flow methods. 5) Prepare a bank reconciliation for XYZ on 11/30 Balance per books 11/30 9,920 Balance per bank 11/30 12,170 Deposit in Transit 1,500 Outstanding Checks 1,710 Bank Service Charge 190 Note Collected by bank 2,230 6) CBC has accounts receivable at year end 620,000.00 Balance in allowance for doubtful accts 12,400.00 credit balance Sales on account for the year were 868,000.00 The company uses the % of receivables allownace method for bad debt Prepare the journal entry for bad debt expense at year end if 3% is the expected bad debt
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more