Your friend John plans to open a parking garage business John states that he does not have time to develop and Implement a system of internal control start a explain to John the objective of a system of internal control Part B explain to John at least five internal control procedures that he must established […]
This is a 2-part question. Part 1) Journalize the adjusting entries below at year-end December 31, XXXX. Please share your supporting calculations for the adjusting entries requiring computations. (a) Accrued Service Revenue of $5,000 (b) The unadjusted balance of the Supplies account is $1,700. The total cost of supplies remaining is $900. (c) Interest revenue of […]
TCO C) This is a 2-part question. Part 1) Indicate which section of the statement of cash flows should contain each of the following items, and whether each item would result in an inflow or outflow of cash. The sections are Operating, Investing, and Financing. (30 points) (a) Amortization of a patent (b) Increase in accounts […]
(TCO G) Please review the following 6 ratios for Langley Company and XYZ Inc. for the year ended 2014, and address the 2 questions below. Ratio Name Langley Company XYZ Inc. (a) Rate of return on total assets 21.5% 17.9% (b) Debt ratio 25.0% 10.1% (c) Accounts receivable turnover 8.3 7.5 (d) Price-Earnings ratio 25 […]
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