QUIZ CHAPTER 6
Hansen Company uses the periodic inventory method and had the following inventory
QUIZ CHAPTER 7
1. Internal controls are not designed to safeguard assets from
a. natural disasters.
b. employee theft.
d. unauthorized use.
internal control standpoint, the asset most susceptible to imp
Fresh Fruit Company
The following represents the business activities of Fresh Fruit Company. Tim and Carolina
opened Fresh Fruit after having orchestrated the weddings of their five daughters decided to
take early retirement from their jobs and
1. The following information is available for Mullen Company for the year ended December
Accumulated depreciation, equipment
Notes payable (due in 5 years)
QUIZ CHAPTER 8
The December 31, 2013, balance sheet of the Kramer Company had Accounts Receivable of
$650,000 and a credit balance in Allowance for Doubtful Accounts of $33,000. During 2014, the
following transactions occurred: sales on account $1,550,000