Daily Archives: February 20, 2021

write 2-3 pages memo on discussing our responsibilities for auditing the controls at a service organization, and whether a SSAE 16 report fulfills our obligations under Section 404 of SOX?

Read the attached files carefully. I need 2-3 pages memo on the given instructions. You must include 2-3 scholarly references must be cited in APA. Your answer must be properly addressed, must be 100% original.

 

Instructions

 

 

Read the attached files carefully, and write 2-3 pages memo on discussing our responsibilities for auditing the controls at a service organization, and whether a SSAE 16 report fulfills our obligations under Section 404 of SOX? Also, if I remember correctly, there are two types of SSAE 16 reports, but I don’t know which one we need and whether the attached letter is a Type 1 or Type 2 report. You need to discuss briefly that attached SSAE 16 report. Also, just include the service auditor’s report as a brief….

Calculate the select financial ratios for the fiscal year Year 2. (use MS word or excel but excel is more recommended)

Hello,

Please read the assignment before bidding.

Thanks.

 

Assignment Content

Purpose of Assignment

This activity helps students recognize the significant role accounting plays in providing financial information to management for decision making through the evaluation of financial statements. This experiential assignment requires students to use ratios to evaluate and analyze a company’s liquidity, solvency, and profitability.

Two-Rivers Inc. (TRI) manufactures a variety of consumer products. The company’s founders have run the company for thirty years and are now interested in retiring. Consequently, they are seeking a purchaser, and a group of investors is looking into the acquisition of TRI. To evaluate its financial stability, TRI was requested to provide its latest financial statements and selected financial ratios. Summary information provided by TRI Document presented below.

TRI Documents

….

Prepare a schedule of accounts receivable.

1. value:1.00 points

2. value:1.00 points

Ch 7. Homework – Group B (graded) instructions | help

Exercise 7-12 Posting to subsidiary ledger accounts; preparing a schedule of accounts receivable L.O. P2 [The following information applies to the questions displayed below.]

At the end of May, the sales journal of Clear View appears as follows.

Date Account Debited

Invoice Number PR

Accounts Receivable Dr. Sales Cr.

Cost of Goods Sold Dr. Inventory Cr.

May 6 Aaron Reckers 190 4,510 3,428 10 Sara Reed 191 3,570 2,945 17 Anna Page 192 1,589 934 25 Sara Reed 193 636 374

31 Totals 10,305 7,681

Clear View also recorded the return of defective merchandise with the following entry.

Date General Journal Debit Credit May 20 Sales Returns and Allowances 125

Accounts Receivable—Anna….

Compute the weighted-average unit contribution margin, assuming a constant sales mix. 

Disk City, Inc. is a retailer for digital video disks. The projected net income for the current year is  $1,840,000 based on a sales volume of 230,000 video disks. Disk City has been selling the disks for $23 each. The variable costs consist of the $11 unit purchase price of the disks and a handling cost of $2 per disk. Disk City’s annual fixed costs are $460,000.

     Management is planning for the coming year, when it expects that the unit purchase price of the video disks will increase 30 percent. (Ignore income taxes.)

 

Required:

 

1. Calculate Disk city’s break-even point for the current year in number of video disks. (Round your answer to the nearest whole number.)

 

 

  Break-even point 46,000  units

 

2. What will….

Cumulative Software Problem

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Chapter 7: Tax Credits Group 5: Cumulative Software Problem Book Title: Income Tax Fundamentals, 2019 Edition Printed By: Ahmed Almadan (almadana2@csp.edu) © 2019 Cengage Learning, Cengage Learning

Questions and Problems

Group 5: Cumulative Software Problem

The following information is available for the Albert and Allison Gaytor family in addition to that provided in Chapters 1, 2, 3, 4, 5, and 6.

The Gaytors paid tuition and fees for both Crocker and Cayman to attend college. Recall that Crocker is a freshman at Brickell State and Cayman is a part-time student in community college. Crocker received a $1,000 scholarship from Brickell State. Crocker’s Form 1098-T is shown below. The Gaytors paid tuition and fees of $1,400 for Cayman in 2018.

….

What is the par value of the preferred stock?

Answer the following questions in 1,050 words using the Lachlin Corporation Balance Sheet located on p. 575 of Financial Accounting:

How many shares of common stock are outstanding? Assuming there is a stated value, what is the stated value of the common stock? What is the par value of the preferred stock? If the annual dividend on preferred stock is $36,000, what is the dividend rate on preferred stock? If dividends of $72,000 were in arrears on preferred stock, what would be the balance reported for retained earnings?

Use the Week 4 Excel® spreadsheet and submit with your answers.

Compare the tax advantages of debt versus equity capital formation of the corporation for the client.

         Assignment 1: Client Letter

Due Week 2 and worth 150 points

Imagine that you are a Certified Public Accountant (CPA) with a new client who needs an opinion on the most advantageous capital structure of a new corporation. Your client formed the corporation in question to provide technology to the medical profession to facilitate compliance with the Health Insurance Portability and Accountability Act (HIPAA). Your client is very excited because of the ability to secure several significant contracts with sufficient capital.

Use the Internet and Strayer databases to research the advantages and disadvantages of debt for capital formation versus equity for capital formation of a corporation. Prepare a formal letter to the client using the six (6) step tax research process in Chapter 1 and demonstrated in Appendix….

Identify All Variances Accurately

ACC 202 Milestone Three Guidelines and Rubric Overview: In the third milestone, you will jump forward in time: Imagine that your business has already opened. Use the updated scenario information to analyze your company’s performance. Post-opening Scenario: Your angel investors are silent in relation to the business; however, they require board meetings for status updates on the company’s financial health. Therefore, you need to analyze your company’s performance over the last month using the data provided below. Note: Your instructor will create an announcement sharing the income statement data by the end of Module Four. All of the data you need for the cost-of- goods-manufactured statement can be found in the “COGM Schedule” tab of your workbook. For your variance analysis, use the following financial data:

Grooming labor….

Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters as transaction codes.

1.The weekly time tickets  indicate the following distribution of labor hours for three direct labor employees:

  Hours         Process   Job 301 Job 302 Job 303 Improvement Tom Couro 10 15 13 2 David Clancy 12 12 14 2 Jose Cano 11 13 15 1

The direct labor rate earned per hour by the three employees is as follows:

Tom Couro $32 David Clancy 36 Jose Cano 28

The process improvement category includes training, quality improvement, and other indirect tasks.

  Answers A. Journalize the entry on July 15 to record the factory labor costs for the week. (3 Journal Entries) B. Assume that Jobs 301 and 302 were completed but not sold during the week and that Job 303 remained incomplete at the end of the week. How would the direct….

Prepare a retained earnings statement for the year ended June 30, 2018.

Foxy Investigative Services is an investigative services firm that is owned and operated by Shirley Vickers. On November 30, 2018, the end of the fiscal year, the accountant for Foxy Investigative Services prepared an end-of-period spreadsheet, a part of which follows:

Foxy Investigative ServicesEnd-of-Period SpreadsheetFor the Year Ended November 30, 2018 ~Adjusted Trial BalanceAccount Title~Dr.Cr. ~

Cash~23,000 Accounts Receivable~71,800 Supplies~4,500 Prepaid Insurance~2,500 Building~444,000 Accumulated Depreciation-Building~ 44,600Accounts Payable~ 11,200Salaries Payable~ 2,900Unearned Rent~ 1,500Common Stock~ 80,000Retained Earnings~ 293,200Dividends~11,500 Service Fees~ 719,450Rent Revenue~ 11,500Salaries Expense~525,000 Rent Expense~46,000 Supplies Expense~10,500 Depreciation Expense-Building~7,400 Utilities Expense~7,350 Repairs Expense~2,500 Insurance Expense~2,300 Miscellaneous Expense~6,000

~1,164,3501,164,350

Required:1.A.Prepare an income statement for the year ended November 30, 2018. If a net loss has been incurred, enter that amount as a negative number using a minus sign. Be sure to….