John markov runs a family-owned department store in st. louis. the store consists of nine different departments, each with its own department manager. store hours are monday through saturday from 10: 00 a. m. to 7: 00 p. m., and from noon until 5: 00 p. m. on sunday. each department has its own cash register, and two salespersons are assigned to each register. to prevent any confusion, each salesperson must enter his or her own secret code with each transaction. at the end of each day, the sales manager in each department tallies the department’s register, collects the money (cash and checks) from the register, and prepares a transmittal slip for the general manager to review and sign. the general manager then double-checks the cash count before signing the transmittal slips. after collecting all cash receipts from all departments, the general manager prepares a daily cash sales report and sends it to the store’s finance manager. the finance manager again counts the money and signs three copies of the daily cash sales report. she keeps one copy for herself, a second copy goes to the store accountant, and the last copy goes to the store manager. the finance manager then puts all of the cash into the company safe, where it stays until the next morning when it is picked up by an armored car service. the store accountant reconciles copies of cash sales reports with bank deposit slips and with credits on the monthly bank statement. john has a close relationship with the bank, so he is always called first when there is any kind of issue or problem. he just received a call from one of the bank’s customer service representatives who suggested that he look into some customer checks that had recently bounced. the bank representative said that some of the payer names on the checks had come up in bad checks written to a number of other local businesses. "you have an insider working against you," said the bank employee. "this is happening all over town, and i heard a police investigator say that there’s always an insider involved."a. what possible check fraud schemes might the company be a victim of? b. given the store’s procedures for processing cash receipts, which persons in the store are in a position to participate in a check fraud scheme?
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Business, 21.06.2019 19:40
Policymakers are provided data about the private and social benefits of a good being sold in the market. quantity private mb ($) social mb ($) 6 6 9 7 4 7 8 2 5 9 0 3 what is the size of the externality? if the externality is positive, enter a positive number. if negative, make it a negative number. $ given this data, policymakers must decide whether to address the associated externality with a subsidy or a tax. as their economic consultant, which of the two policy tools would you recommend? a subsidy a tax
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Business, 21.06.2019 21:40
Tandard product costs deerfield company manufactures product m in its factory. production of m requires 2 pounds of material p, costing $4 per pound and 0.5 hour of direct labor costing, $10 per hour. the variable overhead rate is $8 per direct labor hour, and the fixed overhead rate is $12 per direct labor hour. what is the standard product cost for product m? direct material answer direct labor answer variable overhead answer fixed overhead answer standard product cost per unit answer
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Business, 22.06.2019 19:10
Below are the steps in the measurement process of external transactions. arrange them from first (1) to last (6). event step post transactions to the general ledger. assess whether the transaction results in a debit or credit to account balances. use source documents to identify accounts affected by an external transaction. analyze the impact of the transaction on the accounting equation. prepare a trial balance. record the transaction in a journal using debits and credits.
Answers: 3
John markov runs a family-owned department store in st. louis. the store consists of nine different...
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