AC 410 All Assignments
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
<strong>AC</strong> <strong>410</strong> Unit 6 Homework Assignment<br />
Click Below Link To Purchase<br />
http://www.foxtutor.com/product/ac-<strong>410</strong>-unit-6-<br />
homework-assignment<br />
Questions Requiring Analysis 12-21<br />
Nolan Manufacturing Company retains you on April 1 to perform an<br />
audit for the fiscal year ending June 30. During the month of May, you<br />
make extensive studies of internal control over inventories.<br />
<strong>All</strong> goods purchased pass through a receiving department under the<br />
direction of the chief purchasing agent. The duties of the receiving<br />
department are to unpack, count, and inspect the goods. The quantity<br />
received is compared with the quantity shown on the receiving<br />
department’s copy of the purchase order. If there is no discrepancy, the<br />
purchase order is stamped “OK—Receiving Dept.” and forwarded to the<br />
accounts payable section of the accounting department. Any<br />
discrepancies in quantity or variations from specifications are called to<br />
the attention of the buyer by returning the purchase order to him with<br />
an explanation of the circumstances. No records are maintained in the<br />
receiving department, and no reports originate there.