Pre-numbering of shipping documents helps to verify that
A |
all transactions have been recorded. |
|
B |
documents have been used in order. |
|
C |
source data automation was used to capture data. |
|
D |
company policies were followed. |
Option A is the answer | ||
Pre numbering of the shipping documents aids in the verification whether all the transactions have been recorded or not. Comment if you face any issues Thank you |
Pre-numbering of shipping documents helps to verify that A all transactions have been recorded. B documents...
An audit trail: A. consists of business documents and records that provide evidence of transactions. B. requires employees to take an annual vacation. C. limits the number of employees who have access to company assets. D. requires the use of security cameras and alarm systems.
The December 31, 2021, year-end inventory balance of the Raymond Corporation is $212,000. You have been asked to review the following transactions to determine if they have been correctly recorded.Goods shipped to Raymond f.o.b. destination on December 26, 2021, were received on January 2, 2022. The invoice cost of $31,000 is included in the preliminary inventory balance.At year-end, Raymond held $15,000 of merchandise on consignment from the Harrison Company. This merchandise is included in the preliminary inventory balance.On December 29,...
n on as one transaction Alter all transactions have been tres cala Enter the transactions in the accounting e balance of each account, stal sets and t beginning with transaction Formacions that affect stockholders equity select the type of guilty transaction. For transaction .enter the amounts to the accounting able and stockholdereuty (Use pare or a mino n decreasing countsa box not used in the table leave the box empty do not enter a zero.) Assets Accounts + Rocavab Acoounts...
1.Which of the following controls would provide the most assurance to management that recorded sales actually occurred? A) Statements are sent to customers at the end of each month, and customer complaints are investigated B) Responsibilities for recording a customer order and shipping the products are segregated C) A credit sale is recorded only after a credit check is performed D) Shipping documents are prepared for every shipment made and filed in the shipping department 44. Which of the following...
Which of the following documents are used as evidence of transactions for the purpose of accounting record? A Purchase order 6 B Sales order D Delivery order ? lmoice If an item of expense is not adjusted for accrual, which of the following is the most likely consequence? A The expense is understated 7 B The expense is overstated C The expense is correctly stared D The liability component in the balance sheet will be overstated 8 Which of the...
Cynthia Company Bank reconciliation which of the audit procedures listed below would most likely have been used to verify the accuracy of the amounts identified of Balance per bank December 31, 2018 Balance per bank 12/31 $18,375.91 a Deposits in Transit 12/30 1,471.10$ b 12/31 2,840.69 b 4,311.79 Outstanding Checks 6/30 837 6,000.00 c 12/15 1941 671.80 12/20 1966 320.00 12/21 1984 1,855.42 12/23 1985 3,621.22 c 12/28 1985 2,576.89 c 12/30 1991 4,420.88 c (19,466.21) NSF check returned 12/29 ...
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All journal entries have been recorded correctly. However on
journal C the credit info is incorrect. It is either cash nor
accounts payable. what would the credit entry be?
Given this info, is the manufacturing overhead underapplied or
overapplied for the year?
record the above journal entry
prepare an income statement
Problem 3-16 Comprehensive Problem (LO3-1, LO3-2, LO3-4) Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South China market. The company sells its...