The auditor is least likely to learn of retirement of equipment through which of the following?
A. Analyzing debits to the accumulated depreciation account.
B. Reviewing depreciation.
C. Reviewing the purchase return and allowance account.
D. Reviewing insurance policy riders.
Answer: C
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Answer the following statements true (T) or false (F)
1. Perpetuation objectives are one type of objective used in MBO. 2. In MBO, objectives that employees fail to meet should be put aside for the next period in favor of ones that they can achieve. 3. In order for MBO to be successful, it must be implemented throughout the entire organization. 4. Organizationwide, the best structure for objectives in MBO is known as a diversity pattern.
Bradley Corporation has three production departments A, B, and C. Bradley Corporation also has two service departments, Administration and Personnel. Administration costs are allocated based on value of assets employed, and Personnel costs are allocated based on number of employees. Assume that Administration provides more service to the other departments than does the Personnel Department. Dept
Direct Costs Employees Asset Value Admin. $900,000 25 $450,000 Personnel 350,000 10 600,000 A 700,000 15 300,000 B 200,000 5 150,000 C 250,000 10 800,000 Refer to Bradley Corporation. Using the step method, what amount of Administration costs is allocated to A (round to the nearest dollar)? a. $72,973 b. $291,892 c. $145,946 d. $389,189
A company uses the retail inventory method and has the following information available concerning its most recent accounting period:?At CostAt RetailBeginning-of-period inventory$148,600$245,200Net purchases677,4001,229,800Sales?1,200,0001. What is the cost-to-retail ratio using the retail method?2. What is the estimated cost of the ending inventory?
What will be an ideal response?
If accounts payable is $1,116 and cost of goods sold is $11,315, what is days' payable outstanding?
A. 36 days B. 45 days C. 30 days D. 33 days E. 40 days