1_Group Exercise #8 - Chapter 12 Administrative Cycle

Answer multi choice question in photo please

Correcting internal control weakness Each of the following situations has an internal control weakness. Upside-Down Applications develops custom programs to customer’s specifications. Recently, the development of a new program stopped while the programmers redesigned Upside-Down’s accounting system. Upside-Down’s accountants could have performed this task. Norma Rottler has been your trusted employee for 24 years. She performs all cash- handling and accounting duties. Ms. Rottler just purchased a new luxury car and a new home in an expensive suburb. As an owner of the company, you wonder how she can afford these luxuries because you pay her only $30,000 a year and she has no source of outside income. Izzie Hardwoods, a private company, falsified sales and inventory figures in order to get an important loan. The loan went through, but Izzie later went bankrupt and could not repay the bank.</p> <p>d. The office supply company where Pet Grooming Goods purchases sales receipts…

What is a good response to... For this week’s discussion I chose to research and answer question number two.  Explain why denial of service attacks are such a danger to online retailers? Denial of Service (DoS) attacks are particularly dangerous for online retailers due to their immediate and serious impact on business operations.  In the case of Soap Shop, the three-day vendor website shutdown demonstrates how vulnerable e-tailers are to such disruptions.  A DoS attack can incapacitate key operational components, like Soap Shop’s auction-based vendor system, which directly affects their ability to procure products.  For a company utilizing a Just-In-Time (JIT) system, where inventory levels are kept minimal to reduce storage costs and increase efficiency, even a short disruption in supply chains can cause significant operational challenges (Jenkins, 2023).  Soap Shop’s inability to fill customer orders due to the DoS attack highlights this vulnerability. The financial repercussions of…

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The sales of $2,000 made to Shanaya has been posted to the Sara’s account by mistake. It happened because a customer account number was incorrectly entered into the system. Explain what internal control procedure(s) would provide protection against this threat in future?

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Please solve the question with a detailed explanation.

Give answer within 45 min I will give you upvote ....

edugen.wileyplus.com SOFTWARE UPDATE Return to Blackboard Weygandt, Accounting Principles, 13th Edition, Custom WileyPLUS Course for Bronx Community College Help | System Announcements macOS Big Sur 11.3.1 is available and will be in later tonight. CALCULATOR PRINTER VERSION 4 ВАCK Problem 8-03A a-b (Part Level Submission) (Video) Bramble Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Aug. 1 Established the petty cash fund by writing a check payable to the petty cash custodian for $210. 15 Replenished the petty cash fund by writing a check for $205.80. On this date, the fund consisted of $4.20 in cash and these petty cash receipts: freight-out $92.00, entertainment ex $47.60, postage expense $41.90, and miscellaneous expense $22.80. 16 Increased the amount of the petty cash fund to $325 by writing a check for $115.00. 31 Replenished the petty cash fund by writing a check for $308.80. On this date, the fund consisted…

which of the followingtaxpayers has a deductible loss from identity thief? ashen he hasnt received rent from his tenant for several months because his tenant was a victim of identity theft and had $5000 stolen geraldine she fell victim to a phone scam shegave identitythieves her personal bank account information and$8000 was taken harris he is sole proprietor and was the target of a phishing attempt he does not have a business checking account but the login information for his personal checking account was stolen and thieves took $10000 from the account jessica she owns residential rental property identity thieves impersonated her and took out a $50000 second mortage on her rental property that jessica must now repay

The goal of this problem is to identify and implement the proper internal controls on the following scenario. Give lengthy responses to each question.   Tim just recently opened a pet store. He sells pet food, toys, and everything else a pet owner needs to keep their pets happy. He hired a bunch of employees to help him run his shop. As of today he only collects cash from his customers. During business hours he keeps most of the cash in the front desk drawer. After he closes, he counts the money puts in an envelope keeps the money at his desk drawer in the back office. He keeps the back office locked unless he sends one of his employees in the back office to get supplies or cash when they run out at the front desk. At the end of the month Tim deposits the money in the bank.    1. What kinds of internal controls should Tim implement to protect the cash at his pet shop? Explain how each internal controls would protect cash.   2. Why is so important for Tim or any company to implement…

Question 1 The following internal control procedures are followed in Trisha’s Office Supplies: (a) Cash and Banking Johanne has been working as the cashier for Trisha’s Office Supplies for the last five years and apart from receiving and recording cash received, she also prepares banking and does deposits in the bank. (b)Debtors and Creditors There were several occasions when sales staffs have approved large credit sales and recently business’s bad debts have significantly increased. (c)Fixed Assets The business has three delivery vans and the drivers are allowed to keep the van after work and during the weekends. Recently it is noticed that there is high cost of van repairs and maintenance and fuel consumption while the sales have declined. (d)Inventory There are no perpetual records in Trisha’s Office Supplies, the store clerk does not keep records of goods received or issued. A physical count is done on a monthly basis by the store clerk under supervision. (e)Wages and…

Case 1 Steve Ramos owns apartment buildings in Baguio City, and Tagaytay City. Each property has a manager who collects rent, arranges for repairs, and runs advertisements in the local newspaper. The property managers transfer cash to Ramos monthly and prepare their own bank reconciliations. The manager in Baguio City has been stealing large sums of money. To cover the theft, he understates the amount of the outstanding checks on the monthly bank reconciliation. As a result, each monthly bank reconciliation appears to balance. However, the balance sheet reports more cash than Ramos actually has in the bank. In negotiating the sale of the Baguio City property, Ramos is showing the balance sheet to prospective investors. Required: 1. Identify two parties other than Ramos who can be harmed by this theft. In what ways can they be harmed? 2. Discuss the role accounting plays in this situation.

Charles Hart, an accounts payable clerk, is an hourly employee. He never works a minute past 5 PM unless the overtime has been approved. Charles has recently found himself faced with some severe financial difficulties. He has been accessing the system from his home during the evening and setting up an embezzlement scheme. As his boss, what control technique(s) discussed in this chapter could you use to help detect this type of fraud?

Credit Card Fraud and Identity Theft Loss of a credit card, the information on it, or your personal information can cause serious problems. For example, you could be required to pay for purchases you didn't make, or you could spend years repairing the damage to your credit rating. Consider the following two alternative behaviors. Behavior A If I receive an e-mail with a sales offer I like, rather than provide my account number through the e-mail link, I open a separate browser window and directly access the company's website to make my purchase. B I save all my charge receipts and reconcile them to my monthly statement, most often by accessing my account online. Which behavior is likely to reduce your chance of experiencing credit card fraud or identity theft? O Alternative A O Alternative B Both Alternatives A and B ONeither Alternative A nor B