Entries by mary WAMBUGU

Blaster, Inc., a manufacturer of portable radios, purchases the components from subcontractors to use to assemble into a complete radio.

September 6, 2019 in /by

Blaster, Inc., a manufacturer of portable radios, purchases the components from subcontractors to use to assemble into a complete radio. Each radio requires three units each of Part XBEZ52, which has a standard cost of $1.45 per unit. During May, Blaster experienced the following with respect to Part XBEZ52:   Units Purchases ($18,000) 12,000 Consumed […]

 

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How does managing and the oversight of third-party vendors impact the internal auditing industry today? What actions or steps do internal auditor need to take to assess the governance

September 6, 2019 in /by

How does managing and the oversight of third-party vendors impact the internal auditing industry today? What actions or steps do internal auditor need to take to assess the governance, risk management process and internal controls?  What are some of the challenges faced by internal auditors in assisting organizations in responding to risks resulting from the […]

 

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The adjusted gross income number (AGI) is an important one. It is said it is always better for a deduction to be “for” AGI, i.e., deductible in arriving at AGI.

September 6, 2019 in /by

The adjusted gross income number (AGI) is an important one. It is said it is always better for a deduction to be “for” AGI, i.e., deductible in arriving at AGI. These are also called “above the line” deductions. Why is it better? Can you name any specific benefits to being deductible above the AGI line?  Discuss one or two […]

 

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The following is the Bravo Unlimited adjusted Trial Balance. Bravo Unlimited Adjusted Trial Balance

September 6, 2019 in /by

The following is the Bravo Unlimited adjusted Trial Balance.Bravo Unlimited Adjusted Trial Balance December 31, 2016 Account Title Debit Credit Cash $88,450 Accounts Receivable 331,860 Supplies 11,255 Prepaid Rent 5,500 Equipment 295,285 Accumulated Depreciation $236,260 Accounts Payable 72,555 Wages Payable 10,000 Capital Stock 220,000 Retained Earnings 111,145 Service Revenue 898,105 Interest Income 1,500 Rent Expense […]

 

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