Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need fast help in these questions and i have only 30 minutes. Please do them correctly and 100% and fast please. A Moving to

I need fast help in these questions and i have only 30 minutes. Please do them correctly and 100% and fast please.

image text in transcribed

image text in transcribed

image text in transcribed

A Moving to another question will save this response. Question 31 of 40 Question 31 4 points tower shop makes a large sale. They sale and the the towers to a customer for $1,000 on November 30. The customers and a statement on December 5 and a check is received on December 10. The flower shop follows GAAP and applies the revenue recognition ople Wiena the 51.000 considered to be recognized December 5 December 10 November 30 December 1 A Moving to another question will save this response Question 31 40 A Moving to another question will save this response. Question 32 Having one person responsible for the related activities of ordering merchandise, receiving goods, and paying for them Increases the potential for errors and traud Decreases the potential for errors and fraud, is an example of good internal control O is a good example of safeguarding the company's assets. Moving to another question will save this response. Moving to another question will save this response. Question 33 Sunshine, Inc. failed to adjust prepaid insurance for insurance that had partly expired. The original entry was recorded by debiting the prepaid insurance asset account, this will result in An overstatement of assets and an understatement of expenses An understatement of assets and an understatement of expenses An overstatement of assets and an overstatement of expenses An understatement of assets and an overstatement of expenses A Moving to another question will save this response. Question 31 of 40 Question 31 4 points tower shop makes a large sale. They sale and the the towers to a customer for $1,000 on November 30. The customers and a statement on December 5 and a check is received on December 10. The flower shop follows GAAP and applies the revenue recognition ople Wiena the 51.000 considered to be recognized December 5 December 10 November 30 December 1 A Moving to another question will save this response Question 31 40 A Moving to another question will save this response. Question 32 Having one person responsible for the related activities of ordering merchandise, receiving goods, and paying for them Increases the potential for errors and traud Decreases the potential for errors and fraud, is an example of good internal control O is a good example of safeguarding the company's assets. Moving to another question will save this response. Moving to another question will save this response. Question 33 Sunshine, Inc. failed to adjust prepaid insurance for insurance that had partly expired. The original entry was recorded by debiting the prepaid insurance asset account, this will result in An overstatement of assets and an understatement of expenses An understatement of assets and an understatement of expenses An overstatement of assets and an overstatement of expenses An understatement of assets and an overstatement of expenses

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions