Below is the balance sheet for Triple H Company: Triple H Company Balance Sheet Dec ember 31,
Current as sets: Cash Accounts receivable Inventory Prep aid insur ance Total current ass ets Long-term as sets: Fixed assets Less: Accumulated depreciation Total long-term assets Total assets Current liabilities: Accounts pay able Wages payable Total current liabilities Long-term liabilities: Notes payable Total liabilities Owners’ equity: Common stock Retained income Total owner’ equity Total liabilities and owners’ equity 20X6$38043023832$1,080$406(272) $134$1.214$17638$214420$634$190390$580$1,21420X5$24219438876$900$452(228) $224$1.124$15232$184420 $604$160360$520$1,124 Triple H Company's accounts receivable increased (decreased) by:
Understand the principles of internal control over cash and cash equivalents.
Analyze and apply internal control principles to cash disbursement and receipt processes.
Understand the prevalence of fraud and the role of internal control in fraud prevention.
Compare and contrast the definitions and treatments of cash and cash equivalents under IFRS and GAAP.
Direct Labor Hours
This term represents the total time spent by workers directly involved in the manufacturing process.
Flexible Budget Graph
A visual representation that shows the difference between actual and expected performance at various levels of activity.
Direct Labor Hours
The cumulative hours that employees, who are engaged directly in creating products or delivering services, spend on work.
Variable Costs
Expenses that vary proportionally with the level of production or sales volume, such as raw materials and direct labor.