ACC
sam boyer acc 290 week 8

sam boyer acc 290 week 8 - BE5-1 Sales Revenues Cost of...

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BE5-1 Sales Revenues Cost of goods Gross profit operting expense $71,200 41,200 $30,000 17,900 $108,000 $70,000 38,000 8,500 181,500 $71,900 $109,600 $46,200 BE5-2 Porcas Campany Inventory 900 Accounts payable 900 Wedell Company 900 Accounts receivable 900 sales revenue cost of goods 590 inventory 590 BE6-5 The phanom profit would be $1720 when following the FIFO (first in , firtst out) methed. Phantom only recover the cost first maiking the profit appear higher to begin with. This causes the net profit BE6-7 33,000
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Unformatted text preview: 33,000 BE7-4 A) Physical Control B) Human resource controls C) Independent internal verifcaTon D) SegregaTon duTes E) establishment oF responsibility BE7-5 debit credit Cash 975.74 cash over or short 12.88 sales revenue 988.62 BE7-6 A) DocumentaTon procedure B) independent internal verifcaTon C) physical control D) segregaTon duTes E) establishment oF responsibility net income 12,100 29,500 63,400 profts t to be overstated on the fnancial reports....
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  • Spring '12
  • Rob
  • Accounting, Revenue, Generally Accepted Accounting Principles, net profit, Porcas Campany, segregation duties, Phantom profits, BE5-1 Sales Revenues

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