of $300,000, which he summed together and calculated as follows: case, and what should he do to locate the issue's root cause?
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- Damon Davis was working on a spreadsheet for the Drano Plumbing Company. He calculated that the net profit would be $50,000. He totaled the columns on the Balance Sheet as follows: debit, $400,000; and credit, $300,000. What was the most likely cause of this disparity? If this was not the case, how should he go about determining the cause of the error?Damon Davis was concluding Drano Plumbing's paperwork. He predicted a $50,000 net profit. When he tallied up the columns on the Balance Sheet, he found that the debit column amounted to $400,000 and the credit column amounted to $300,000. What was the most likely source of the result discrepancy? If this was not the source of the problem, how might he continue to identify its origin?Damon Davis was putting the finishing touches on the paperwork for Drano Plumbing at the time of this writing. A net profit of $50,000, he predicted, would be generated. Upon tally of the balance sheet's columns, it became clear to him how much money was in the negative column ($400,000) and how much money was in the credit column ($300,000). What was the most likely cause of the mismatch in results, according to you? If this was not the source of the problem, what should he do next in order to determine the source of the issue?
- Damon Davis was doing the paperwork for Drano Plumbing. He estimated a net profit of $50,000. He discovered that the debit column on the balance sheet totaled $400,000 and the credit column, $300,000, when he added up the columns. What was the difference in the results' most likely cause? What should he do if this wasn't the root of the problem? How can he find out where it came from?We have a set of 8000 data points representing bank customers' behavior over the past year (each data point represents one customer): The support of (Overdraft) is 0.0500 The support of (UnpaidCreditCardBalance) is 0.2500 The support of (Overdraft, UnpaidCreditCardBalance} is 0.0375 For the the association rule with UnpaidCreditCardBalance as the premise, and Overdraft as the conclusion ("If UnpaidCreditCardBalance, then Overdraft"). What is the confidence?Krall Company recently had a computer malfunction and lost a portion of its accounting records. The company has reconstructed some of its financial performance measurements including components of the return on investment calculations.Required:Help Krall rebuild its information database by completing the following table: (Do not round your intermediate calculations. Round your final answers to 2 decimal places, (i.e. 0.1234 should be entered as 12.34%.).)
- Swell Computers is a public company that manufactures desktop and laptop computers. The components of the financial statements are: (1) income before taxes = $500,000, (2) total assets = $2.2 billion, and (3) total revenues = $7 billion. Swell Computers' CPA firm might use the lowest percentage for total assets for determining overall materiality, but they also consider qualitative factors. a. Determine overall materiality and tolerable misstatement. Justify your decisions.Krall Company recently had a computer malfunction and lost a portion of its accounting records. The company has reconstructed some of its financial performance measurements including components of the return on investment calculations. Required: Help Krall rebuild its information database by completing the following table: (Do not round your intermediate calculations. Round your final answers to 2 decimal places, (i.e. 0.1234 should be entered as 12.34%.).) Return on Investment Profit Margin Operating Income Average Invested Assets Investment Turnover Sales Revenue 44,000.00 $ 705,000.00 $ 1,400,000.00 10.00 % 0.31 82,460.00 2,660,000.00 15.30 % 1.85 3,200,500.00 11.10 % 2.55 500,000.00 %24 %24 %24 %24 %24Krall Company recently had a computer malfunction and lost a portion of its accounting records. The company has reconstructed some of its financial performance measurements including components of the return on investment calculations.Required:Help Krall rebuild its information database by completing the following table: (Do not round your intermediate calculations. Round your final answers to 2 decimal places, (i.e. 0.1234 should be entered as 12.34%.).) Return on Investment Profit Margin Investment Turnover Operating Income Sales Revenue Average Invested Assets % % $50,000.00 $714,000.00 $1.550.000.00 % 9.80 % 0.50 $1,23,970.00 $2,530,000.00 % 15.70 % 1.15 $1,955,000.00 11.10 % % 2.80 $505,000.00
- Krall Company recently had a computer malfunction and lost a portion of its accounting records. The company has reconstructed some of its financial performance measurements including components of the return on investment calculations. 1. Help Krall rebuild its information database by completing the following table: Note: Round your intermediate calculations to 2 decimal places. Round your final answers to 2 decimal places, (i.e. 0.1234 should be entered as 12.34%.). Return on Investment Profit Margin Investment Turnover Operating Income Sales Revenue Average Invested Assets $51,000.00 $709,000.00 $1,420,000.00 4.06% 9.90% 0.41 $105,128.10 $2,590,000.00 24.14% 14.20% 1.70 $3,043,000.00 11.205 5.09% 2.20 $519,000.00The president of Poleski canʼt figure out where her math went wrong. Use the CVP2 file to determine how many units would have to be sold at $14.40 in order for the firm to achieve its target net income of $250,000. Explain how the presidentʼs analysis is incorrect.Knowing that you have some accounting experience, your friend David has sought your adviceregarding a business that he intends purchasing. The balance sheet for the business shows total assetsof $170 000 and total liabilities of $100 000, out of which $40 000 is a bank loan. A review of thebusiness operations show that a considerable portion of the inventory is obsolete stock for which thereis limited demand. Further, many of the accounts receivable are overdue by more than 60 days. Theaccounts receivable and inventory are carried at their gross amount and cost value respectively on thebalance sheet.As you are an Accounting student, you have been asked to advise the following:a. Explain to David the form of organisation he can adopt for the business? Briefly discuss theadvantages and disadvantages of each form of organisation.b. David has a very limited understanding of the terms Assets and Liabilities. Explain to David thethree essential characteristics necessary to consider an item…