Explain how a physical inventory count would be used differently by a company using a perpetual inventory
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
In a perpetual inventory system a physical inventory count is used to verify the accuracy of ...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Accounting Information Systems The Processes and Controls
ISBN: 978-1118162309
2nd edition
Authors: Leslie Turner, Andrea Weickgenannt
Question Posted:
Students also viewed these Accounting questions
-
A company just completed a physical inventory count at year-end, December 31. Items were counted and costed on a FIFO basis. The inventory amounted to $40,000. The following information was not...
-
Reggie Company has just completed a physical inventory count at year-end, December 31, 2010. Only the items on the shelves, in storage, and in the receiving area were counted and costed on a FIFO...
-
Travis Company has just completed a physical inventory count at year-end, December 31, 2014. Only the items on the shelves, in storage, and in the receiving area were counted and costed on a FIFO...
-
You are the cashier employed at Tastee Limited. On November 30, 2020, you started with a float of $6,500 and at the end of the business day your cash in the cash till were as follows: Notes Coins...
-
Discuss at least three advantages for a business of having a checking account?
-
Calculate the expected value, standard deviation and coefficient of variation of sales revenue of Power Software (see attached document for details): 2% $800 890 $1,000 2000 S1,400 40% 20% S2,600...
-
What is the magnetic potential energy stored in a cylindrical volume of height \(b_{\text {cylin }}=50 \mathrm{~mm}\) and radius \(R_{\text {cylin }}=24 \mathrm{~mm}\) that symmetrically surrounds an...
-
Using Figure, suppose management wants to create a server farm that is configured to allow a proxy firewall in the DMZ to access an internal Web server (rather than a Web server in the DMZ), Do you...
-
(a) A mutual fund raised Rs. 150 lakhs on April 1, 2018 by issue of 15 lakh units at Rs. 10 per unit. The fund invested in several capital market instruments to build a portfolio of Rs. 140 lakhs,...
-
What is the solution of the recursive equation T (n) = 0.015625T +n?? (1/4) a) O(n') b) O(n' lg n) c) O(n* Ign) d) O(7*)
-
Price discounts are commonly used in the business world as incentives for customers. How is it that this practice (or its misuse) may be deemed unethical?
-
How can programmed controls within the IT system for conversion processes enhance internal controls?
-
Cell phone usage in Vietnam has grown dramatically in the last few years, drawing the interest of a number of international telecommunications companies. A study done by the countrys Communications...
-
Budgeted sales for the first six months of 2001 for Henry Corp. are listed below: Apr Mar 8,000 7,000 Jan Feb UNIT 6,000 7,000 S: Henry Corp. has a policy of maintaining an inventory of finished....
-
The function header begins with the keyword Your answer: return O argument def fnc and is followed by the name of the functia
-
A 27 kg ladder is assumed to be a uniform bar which starts sliding without frictional resistance. Determine the forces at A and B. ( 1 = 1 4 = ml ml 1 = 2(), 1 = 22 ) B 3 12 16m 60 B
-
Explain how the focus on ethical and social responsibilities can be advantageous to a business.?
-
What roles are played by the shareholders, upper management, and the board of directors in the strategic implementation process? Explain
-
What do you think of Twitter's revenue prospects? Is the firm a viable independent service or simply a feature to be incorporated into other social media activity? Advocate where you think the...
-
If someone's Z-score for a variable was 0.67. Their score is a significant extreme score. Their score is not significant. O Their score is slightly above average. O Their score is an outlier.
-
According to Table 11.4 , cycling at \(15 \mathrm{~km} / \mathrm{h}\) requires less metabolic energy than running at \(15 \mathrm{~km} / \mathrm{h}\). Suggest reasons why this is the case. TABLE 11.4...
-
There are many vertical market industries with special accounting information needs apart from the industries discussed in this chapter. Identify three additional vertical market industries. What are...
-
Discuss specific steps you would take as a manager to ensure that a business process reengineering effort is successful.
-
Choose an industry described in this chapter and find out what vertical market accounting software is available for that industry. You may use resources such as the library, trade associations,...
-
Based on the introductory in Public Finance, what do you think must be the main role of the government in our individual lives? Any references will do, as long as the answer is related to question...
-
Apercu Industries borrowed $92,350 for 200 days at 15% simple interest. Find the total interest they will pay (a) using bankers' rule and (b) using the exact method.
-
On January 4th, Mark went to the hospital to have an appendectomy. His deductible is $2,500 and since it is the beginning of the year, he has not contributed anything to the deductible yet. The total...
Study smarter with the SolutionInn App