Determine whether each procedure described below is an internal control strength or weakness, then identify the internal control violated or followed for each procedure. 1. The company does not allow employees with access to cash to modify accounting records.
2. The company devotes resources towards keeping accurate accounting records for machinery.
3. Several salesclerks share the same cash drawer.
4. The owner does not use ID scanners to limit access to expensive merchandise. Instead, the owner argues they hire honest employees.
5. The same employee requests, records, and makes payment for purchases of inventory.
Answer is not complete. Weakness or Strength Strength 1. Internal Control Principle Divide responsibility for related transactions Maintain adequate records Separate recordkeeping from custody of assets Divide responsibility for related transactions Apply technological controls Separate recordkeeping from custody of assets Maintain adequate records Establish responsibilities Apply technological controls Divide responsibility for related transactions

The following account balances at the beginning of january were selected from the general ledger of fresh bagel manufacturing​ company: work in process inventory ​$0 raw materials inventory $ 29 comma 000 finished goods inventory $ 40 comma 900 additional​ data: 1. actual manufacturing overhead for january amounted to $ 62 comma 600. 2. total direct labor cost for january was $ 63 comma 600. 3. the predetermined manufacturing overhead rate is based on direct labor cost. the budget for the year called for $ 255 comma 000 of direct labor cost and $ 382 comma 500 of manufacturing overhead costs. 4. the only job unfinished on january 31 was job no.​ 151, for which total direct labor charges were $ 5 comma 700 ​(1 comma 000 direct labor​ hours) and total direct material charges were $ 14 comma 400. 5. cost of direct materials placed in production during january totaled $ 123 comma 300. there were no indirect material requisitions during january. 6. january 31 balance in raw materials inventory was $ 35 comma 200. 7. finished goods inventory balance on january 31 was $ 35 comma 400. what is the cost of goods manufactured for​ january

You are head of the schwartz family endowment for the arts. you have decided to fund an arts school in the san francisco bay area in perpetuity. every 5 years, you will give the school $ 1 comma 000 comma 000. the first payment will occur 5 years from today. if the interest rate is 5.9 % per year, what is the present value of your gift?

When partners own different portions of the business, the terms should be stated clearly in what document? the articles of incorporation the executive summary the business summary the partnership agreement