Explore BrainMass

Explore BrainMass


    BrainMass Solutions Available for Instant Download

    Negative Growth

    Decide whether, in the event of an economic slowdown in the U.S., Bank of America's overseas revenue generation might serve to shelter the parent from slow or negative growth in the U.S. market. Explain and support your opinion.

    Internal Audit Processes

    Many companies have an internal audit staff to assess the adequacy of internal controls. Do you think your organization has an internal audit function? Or do you think your organization has outsourced this function to an external audit firm? Please include an explanation to support your answer.

    Honoring a Note

    Can you help me with the problems below? Exercise 9-6: Prepare journal entries to record these selected transactions for Vitalo Company. Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly White in granting a time extension on her past-due account receivable. Dec. 31 Adjusted the year-end a

    Strategic Audit for The Citigroup (http://www.citigroup.com/citi/homepage).

    Research The Citigroup (http://www.citigroup.com/citi/homepage). Strategic Audit Analysis of Strategic Factors. Since you are aware that your analysis of strategic factors or SFAS (Strategic Factor Analysis Summary) is based on IFAS and EFAS tables, and since we will need to understand your choices, you are required to submi

    Analyzing and journalizing notes receivable transactions

    Please provide instructions on how to process the journal entries. A sample template of the link to a similar problem from the solution library would be helpful. Fundamental Accounting Principals, 18th Edition Wild, Larson, Chiappetta, McGraw-Hill Irwin Problem 9-5A: Analyzing and journalizing notes receivable transac

    Anth Company has significant amounts of trade accounts receivable.

    Anth Company has significant amounts of trade accounts receivable. Anth uses the allowance method to estimate bad debts instead of the specific write-off method. During the year, some specific accounts were written off as uncollectible, and some that were previously written off as uncollectible were collected. Anth also has

    Audit: Sampling Risk

    When assessing the sampling risk, the risk of incorrect rejection and the risk of assessing control risk too high relate to the- A. Efficiency of the audit. B. Effectiveness of the audit. C. Selection of the sample. D. Audit quality controls.

    What is Ross's accounts receivable balance at December 31, 2004?

    Please help with the following problem. Please provide a step by step calculation. Certain information relative to the 2004 operations of Ross Co. follows: Accounts receivable, January 1, 2004 $22,000 Accounts receivable collected during 2004 39,000 Cash sales during 2004 12,000 Inventory, January 1, 2004

    Selling accounts receivable

    When a business sells its accounts receivable to a financial institution, is it called, line of credit,cash equivalent, factoring, or market to market?

    Journalizing and Posting for Bad Debts

    I need help in determining what amounts I need to use for the adjusting entries for bad debts and also how to journalize those when funds are collected later on as well. Presented below is an aging schedule for Lewis Company. Customer Total: Not Yet Due: Number of Days Past Due 1-30 31-60 61-90 Over 90

    The World Bank

    The World Bank is currently advising newly industrialized countries on how to encourage growth and they have asked for your help. Using the internet and other resources, research the factors behind economic growth in Hong Kong and Singapore. Which of these methods of encouraging growth would you suggest to a newly industriali


    Pat, I am still without power since the storm and I am having trouble with any research. All I have really is the text book and it is not that great. I finally found a friend out of state to get this typed for me. Is there anyway you might can help with this assignment? Deliverable length is 2 pages. AICPA professional

    Strategic Audit: Procter & Gamble

    Research Procter and Gamble (http://www.pg.com/en_US/index.shtml). Complete the following sections of a Strategic Audit: 1. Analysis of Strategic Factors (based on a) IFAS and b) EFAS tables which I would also like to see in a spreadsheet) 2. Strategic Alternatives 3. Recommended Strategy (analyze economic, socio-cul

    Net Realizable Value of Accounts Receivable

    Before year end adjusting entries, Bass Company's account balances at December 31, 2007, for accounts receivable and the related allowance for uncollectible accounts were $600,000 and $45,000, respectively. An aging of accounts receivable indicated that $62,500 of the December 31 receivables are expected to be uncollectible. The

    External Audit: relationship between risk and materiality with examples

    To assess your company's liability for the external audit, you must discuss with your team the following topics: What is the relationship of risk and materiality? How are risk and materiality related? How are risk and materiality integrated into the audit process? What is an example of a statement that includes both ri

    CSSC external audit: pre-audit planning and review meeting goals and problems

    Details: The following situations have caused you to become concerned about the quality of the upcoming external audit: The CPA firm that has been contracted by CSSC management has only been in business 2 years and is a small firm with mostly young inexperienced auditors. You have just been advised that the preaudit plann

    Create a Memo to the team: preparation for the 2005 year end audit of CSSC

    Create a memo that is on a business or professional level. I have the definitions needed and I know the relationship between the three. I have attached my definitions and the scenario of the company In preparation for the CSSC 2005 year-end audit, you want to have a complete understanding of the relationship between acco

    Tiny Company: Compute the balance of accounts receivable

    The following information from Tiny Company's first year of operations is to be used in testing the accuracy of Accounts Receivable. The December 31, 2008, balance is $28,300. (a) Collections from customers, $48,000. (b) Merchandise purchased, $74,000. (c) Ending merchandise inventory, $31,500. (d) Goods sell at 60% a

    What are the Transaction Audit Objectives?

    How do you know what would Transaction Audit Objectives be for the following key Controls 1.Independent reconciliation of the monthly bank statements 2.Use of prenumbered checks, properly accounted for 3.Use of prenumbered receiving reports, properly accounted for. 4.Internal verification of document package before c

    Audit problems: General or application control procedures to guard against errors

    Attached are the problems. Identify one or more control procedures (either general or application controls, or both) that would guard against each of the following errors or problems. a.Leslie Thomas, a secretary at the university, indicated that she had worked 40 hours on her regular time card. The university paid her for