Answer:
D) $45,000
Explanation:
The computation of the amount which is included in the current liability section is shown below:
= Account payable balance + bonds payable - discount on bonds payable + dividend payable
= $15,000 + $25,000 - $3,000 + $8,000
= $45,000
The current liability is that liability which is arise for one year. Since, the notes payable is a long term liabilities so we do not consider in the computation part.
Stair rails is a barrier along the open sides of stairways and platforms that prevent falling is
Answer:
the correct answer is
The $400 retail price of the generator.
good luck
Answer:
Price weighted index
Explanation:
A price weighted index is an index used in stocks where each company that is part of the index makes up a fraction of the total, and is proportional to its price per share.
Higher weight is given to sticks that have higher prices.
Rice weighted index is a good way to track track portfolio performance that best match for your portfolio.
Answer: Options A and C are strengths while options B and D are weaknesses. See explanation below.
Explanation:
a. All employees must take at least five consecutive days off each year.
This is a strength in internal control. This would help to maintain stability in operational process and ensure leave days are effectively utilized. It also prevents staff from taking the leave days in piecemeal and sporadic manner thereby disrupting the operational process and causing team instability. It is also used to ensure leave days are promptly utilised and well accounted for.
b. The accounting department orders merchandise and approves invoices for payment.
This is a weakness in internal control. There should be a check and balance in this regard. In some organizations, proper scrutiny of the vendor and invoice is done by the Procurement Unit and the Expense Control Unit respectively. Even within the accounting department, there is approval hierarchy. Also, the unit within accounting department that is making the order should not be the one to approve the transaction.
c. Cash received over the counter is controlled by the sales clerk, who rings up the sale and places the cash in the register. The daily sales are recorded in the accounting records by the accounting department.
This is a strength in internal control as it ensures checks and balances. Fraud and error can be detected through this means. The accounting department should verify the transactions to the relevant supporting document before recording the transaction in the system.
d. The officer who signs checks need not examine the payment packet because he is confident the amounts are correct.
This is a weakness in internal control in the sense that checks signed by the officer is binding in the court of law. The officer cannot claim ignorance if anything goes wrong. There is therefore a need for proper scrutiny and relevant questions asked before checks are signed.
