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I need help with these: the Jackson Corp sells souvenirs at many tourist attractions accross the nation. Gross salaries are driven by both local and
I need help with these:
- the Jackson Corp sells souvenirs at many tourist attractions accross the nation. Gross salaries are driven by both local and nation wide trends in popular vacation spots. At the end of the fiscal year. The company examines its bonds to determine its level of succss over the last year, below is part of the company's records.
- gross sales: $250000
- manager's salaries: $50000
- COGS: $40000
- purchases of equipments: $50000
- depreciation: $30000
- supplies expenses: $2500
- loans to managers: $5000
- general Adm expenses: $2500
- retained earnings: $15000
what is the net income?
Q2. A company recorded depreciation for an assets in equal annual amount over the useful life of the asset. What mthode of depreciation did they used?
Q3. Generally speaking when a company recorded depreciation expenses on equipment, the company is attempting to?
Q4. An adequate control would include:
- Allowing the same person to handle bookkeeping and reporting
- Limiting checkbook access to designated employees
- Withholding customer receipt when necessary
- Allowing the same person to carry all bookeping duties
- musing randomly numbered invoices
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