All of the following are examples of internal control activities except
a. rotation of key personnel.
b. company picnics for all employees.
c. bank reconciliations.
d. insistence that employees take earned vacations.
B
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Grove Corp purchased equipment at a cost of $260,000 in January, 2012 . As of January 1, 2016, depreciation of $88,000 had been recorded on this asset. Depreciation expense for 2016 is $22,000 . After the adjustments are recorded and posted at December 31, 2016 . What are the balances for the Depreciation Expense and Accumulated Depreciation? Depreciation Expense Accumulated Depreciation
a. $ 22,000 $110,000 b. $ 22,000 $ 88,000 c. $110,000 $110,000 d. $110,000 $ 88,000
An email message being incorrectly classified as spam and blocked is referred to as?
a. Negative positive blocking b. False positive blocking c. False negative blocking d. Negative negative blocking
Owen Company's unadjusted book balance at June 30 is $12,920. The company's bank statement reveals bank service charges of $100. Two credit memos are included in the bank statement: one for $1330, which represents a collection that the bank made for Owen, and one for $160, which represents the amount of interest that Owen had earned on its interest-bearing account in June. What is the true cash balance?
A. $14,090 B. $12,920 C. $14,310 D. $14,510
The Curtis Company was started on January 1, Year 1 as a sole proprietorship. The initial investment from Charlotte Curtis, the owner, was $80,000. During Year 1, the business earned $60,000 in cash revenue and paid $45,000 in cash expenses. Ms. Curtis withdrew $7,000 for her personal use.Required:Using the above information, prepare an income statement, a capital statement, and a balance sheet for the Curtis Company.
What will be an ideal response?