Explain what is meant by an imprest payroll account. What is its purpose as a control over
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (12 reviews)
An imprest payroll account is a separate payroll bank account in which a constant balance ...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
Question Posted:
Students also viewed these Auditing questions
-
Explain what is meant by an orderly transaction.
-
Explain what is meant by an Organization's risk utility.
-
Explain what is meant by an 'active market'.
-
Apply the product rule for exponents, if possible. y 4 y 5 y 6
-
In the Columbia Gas of Ohio study that forecasted the demand for gas (see p. 155), the company developed the following coefficients for their equation: Growth...
-
Light of wavelength \(380 \mathrm{~nm}\) strikes the metal target in Figure 34.47. As long as the potential difference \(V_{\mathrm{CT}}\) between the target and the collector is no greater than...
-
Reliable Professionals Pty Ltd is a firm that offers a wide variety of professional services such as marketing, employment of professionals for other firms and accounting services. The firm has the...
-
Adjustment data for Ms. Ellens Laundry Inc. for the year ended December 31, 2013, are as follows: a. Wages accrued but not paid at December 31, $2,150 b. Depreciation of equipment during the year,...
-
Compute the predetermined overhead allocation rates using machine hours as the allocation base for the Assembly Department and direct labor hours for the Packaging Department. Begin by selecting the...
-
A 50-fi lossless line is 4.2 m long. At the operating frequency of 300 MHz, the input impedance at the middle of the line is 80 j60. Find the input impedance at the generator and the voltage...
-
Explain why it is common to verify total officers compensation even when the tests of controls and substantive tests of transactions results in payroll are excellent. What audit procedures can be...
-
List several audit procedures that the auditor can use to determine whether payroll transactions are recorded at the proper amounts.
-
Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter...
-
Identify the name of each of the poultry cuts along with the suitable style of cooking. Image Poultry cuts Style of cooking
-
How is the process of making a reliable P & J sandwich related to the PDSA model? I look forward to your rseponse
-
Imagine the following scenario: It is early Friday morning and David, the Coffee Bistro manager, unlocks the door, flips on the lights, and starts getting ready for the morning rush of espressos,...
-
How many years must you wait for your $4,500 investment to grow to $7,700 if you invest at 5 percent per year (compounding annually)?
-
Consider a time when you had to make a major or minor decision. Describe the details of the decision utilizing the decision-making model. What was the outcome? Did you make the right decision? What...
-
They will sell a range of chips from that factory, and they need to decide how much capacity to dedicate to each chip. Imagine that they will sell two chips. Phoenix is a completely new architecture...
-
The nitrogen atoms in N2 participate in multiple bonding, whereas those in hydrazine, N2H4, do not. (a) Draw Lewis structures for both molecules. (b) What is the hybridization of the nitrogen atoms...
-
In this digital age, list six of the latest trends in job searching and rsum writing.
-
The Southern Guru Copper Company operates a large mine in a South American country. A National Assembly said in a speech that most of the capital for the mining operation was provided by loans from...
-
An insurance company is offering to sell an annuity for $20,000 cash. In return the firm will guarantee to pay the purchaser 20 annual end-of-year payments, with the first payment amounting to $1100....
-
A bank proudly announces that it has changed its interest computation method to continuous compounding. Now $2000 left in the bank for 9 years will double to $4000. (a) What nominal interest rate,...
-
The big mall near Sally and Amy's city has extended their operating hours to accommodate the huge crowds expected for the After Thanksgiving Sale. In their eagerness to beat the crowd, Sally forgets...
-
While taking the measurement of a different sphere with a radius of r = 2 . 2 2 cm , your instrument has a measurement uncertainty of \ pm 0 . 0 4 cm . What is the propagated uncertainty of the...
-
A sphere slides along a friction-free inclined surface n. The sphere slides from a height of n for the speed of the sphere once it reaches the point2. (b) 4.0m. (a) Develop an expression What is...
Study smarter with the SolutionInn App