Describe an internal control that would prevent the charging of depreciation expense to the maintenance department for a sweeper that is now located in and used by the engineering department
Prepare reports about the transfer of fixed assets. Perform an annual physical inventory and note the location of assets. Budget and then hold each department accountable for depreciation expense for assets located in each department.
Business
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On January 1, 2017, NOLA Services issued $20,000 of 8% bonds that mature in five years. The bonds were issued for $20,750. Prepare the journal entry to issue bonds
What will be an ideal response
Business
A firm's liquidity level decreases when:
a. inventory is purchased with cash b. inventory is sold on credit c. inventory is sold for cash d. an account receivable is collected e. proceeds from a long-term loan are received
Business