Umpqua's vision is "to become the world's greatest bank." The company sees its competitors as other financial institutions that

Without control, wrongdoings can escalate rapidly, as there are no checks in place to monitor activities, allowing misconduct to go unnoticed by management. Control is crucial for analyzing misdeeds against established standards. Thus, without control, understanding the scope of wrongdoings in the organization becomes challenging.

$114,000 To begin with, Net credit sales amount to $2,250,000. The starting allowance for doubtful accounts stands at $36,000. During the year, $90,000 worth of uncollectible accounts were written off. First, we need to ascertain the adjustment needed for the allowance for doubtful accounts: Excess amount to adjust = Uncollectible accounts written off - Beginning allowance for doubtful accounts = $90,000 - $36,000 = $54,000 Allowance amount calculated as follows: 10% of the accounts receivable balance: 0.1 × $600,000 = $60,000 Thus, the necessary adjustment for the Allowance for Doubtful Accounts at December 31, 2017 totals to: Excess to adjust + Allowance amount = $54,000 + $60,000 = $114,000.

Answer:

1.                                Damon Company

                     Bank Reconciliation Statement

                               October 31, 2018

Bank Balance                        

                                                                        Amount$

Bank cash balance as per statement             11,725

Add: Adjustment

       Deposits outstanding                               3,025

       (74,320 - 71,295)

       Bank error                                                  300

Less: Adjustment

         Check outstanding                                  1,485

         (72,467 - 70,983)

Bank balance as per Reconciliation              $13,567

Company's Cash balance

                                                                                   Amount$

Company's Cash balance as per General Ledger    8,397

Add: Adjustment

         Interest earned                                                    320

         Note collected                                                      5,000

Less: Adjustment

         Bank service fees                                                 150

Company's Cash balance as per Reconciliation         13,567

Thus, the accurate cash balance as of December 31, 2016 is $13,567

2. Required entries to modify the cash balance.

Date      Account Title and Explanation               Debit     Credit

31 Oct   Cash                                                            $5,320

                   Notes Receivables                                              $500

                    Interest revenue                                                 $320

              (For recording cash increase)

Date   Account Title and Explanation               Debit     Credit

31 Oct  Service charges                                        $150

                  Cash                                                                  $150

            (For recording cash decreases)

Answer:

d.92 units.

Explanation:

Total units completed plus

the completed portion of ending WIP minus

the completed portion of beginning WIP

Total units completed and transferred 100

ending WIP of 10 units x 40% = 4 units

beginning inventory of 20 units x 60% complete equals (12) units

Equivalent Units for conversion 92