You have been assigned to analyze the accounting information for a Fortune 500 corporation. From the e-Activity‚ evaluate which tools you would use to analyze its business processes‚ indicating your rationale. The State Farm Insurance Company operates using a mutual company conducting business throughout the US and Canada. The company business lines include property‚ casualty‚ and life insurance companies. Since State Farm is a mutual company‚ it is collectively owned by State Farm policyholders
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Chapter 14: Problems 14-28(a-c) A. Test of Control or Substantive Test of Transactions | B. Transaction-related Audit Objective(s) | C. Substantive Test | Substantive Test of Transactions | Accuracy | N/A | Substantive Test of Transactions | Posting and summarization | N?A | Test of Control | Accuracy | Compare unit selling prices on duplicate sales invoices to the approved price list. | Test of Control | Classification | Examine a sample of sales transactions to determine if
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WCP 7 Part 2 a) Without considering the possibility of making the timing unit evaluate whether Waterways should buy or continue to make the small fitting. Manufacturing cost - $ 1.00 per unit Buying price - $ 0.82 per unit Fixed cost (cannot be eliminate) - $ 0.20 per unit Total unit (Small Fitting) - 460 000 units Make Buy Net Income Manufacturing Cost $460 000 $ 460 000 Purchase $377 200 $ (377 200) Fixed Cost Not Eliminated $ 92 000 $ (92 000) Total Annual Cost $ 460 000 $
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1. Recognition of normal balances a. Amounts paid to a mall for rent -expense b. Amounts to be paid in 10 days- liability c. A new fax machine purchases for office use- assets d. Land held as an investment - assets e. Amounts due from customers -assets f. Daily sales of merchandise sold - revenue g. Promotional costs to publicize a concert - expense h. A long-term loan owed to Citizens Bank -liability i. The albums‚ tapes‚ and CDs held for sale to customers –assets Normal balance for: liability
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Week 3‚ Journal Go the Hershey website to learn how to make Hershey chocolate. (There is also a "print friendly" version of the chocolate making process at the end of the video.) Review the process and take a look at some of the videos. Pay particular attention to the process steps of milling and pressing‚ mixing the ingredients‚ and refining. In at least one paragraph‚ describe the costing system that you would recommend Hershey use to account for its cost of goods sold and why. Include a few
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Chapter 4 and 5 Problems Please complete the following 7 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document‚ and submit it in the appropriate week using the Assignment Submission button. Chapter 4 Exercise 3 3. Cost flows and overhead application Cleveland Metals uses a job cost system and applies factory overhead to production at a predetermined
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Name: ________________________________________________________________________ (Last name) (First name) Student Number: _________________________________________Section_________________ UNIVERSITY OF WINDSOR ODETTE SCHOOL OF BUSINESS DR. GEORGE LAN MIDTERM EXAMINATION 70-251(01‚ 02) February 11‚ 2012 DURATION: 2 hours and 30 minutes SPECIFIC INSTRUCTIONS: 1. Answer Questions #1 & #2 on the exam paper and Questions #3 to #6 in the exam booklet(s)
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Quiz Chapter 9 Name_________________________________ Question 1 At age 65‚ Camilla retires from her job in Boston and moves to Florida. As a retiree‚ she is not subject to the time test in deducting her moving expenses. True False 1 points Question 2 A taxpayer who lives and works in Tulsa travels to Buffalo for five days. If three days are spent on business and two days are spent on visiting relatives‚ only 60% of the airfare is deductible. True False 1 points Question 3 Jake performs
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Accounting 493 –Advanced Auditing Winter 2004: Section 1 Dr. Raymond N. Johnson‚ CPA Office Hours: T 3:00 – 5:15‚ Office: 670 SBA after class or by appointment Phone: 725-5354 FAX: 725-5850 E-mail: JohnsonR@pdx.edu PREREQUISITES: Accounting 492 and Admission to the School of Business Administration DESCRIPTION AND OBJECTIVES OF THE COURSE: Goals of the Course: 1. To prepare students for the real world audit environment. 2. To be able to evaluate
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This work comprises ACC 491 Week 5 Audit Sampling Case Resource: Modern Auditing: Assurance Services and the Integrity of Financial Reporting Prepare a 1‚400- to 1‚750-word memo to the Audit Partner‚ John Smith‚ summarizing your findings from the following case: Ch. 13: Case: Mt. Hood Furniture—PPS sampling problem Case 13-36 Also‚ since John Smith is primarily a visual person‚ he has asked for all memos to be summarized and put into a presentation. Prepare 10-15 Microsoft®
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