FINANCIAL+MANAGERIAL ACCT CONNECT ACC
FINANCIAL+MANAGERIAL ACCT CONNECT ACC
9th Edition
ISBN: 9781266806414
Author: Wild
Publisher: MCG CUSTOM
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Chapter 6, Problem 3E
To determine

Concept Introduction: Internal control system is a set of policies and procedures used by managers to protect assets, promote efficient operations, ensure reliable record keeping, and uphold company policies. Managers use an internal control system to prevent avoidable losses, help plan operations, and monitor company and employees' performance.

The internal control strengths or weakness in each of the given procedures, and the internal control principle violated in each cash.

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During the year ended December 31, 2023, Ever glow Technologies Inc. earned$3,950,000 in net income after taxes. The company reported $278,000 of net unrealized gains on available-for-sale securities (net of taxes), and $190,000in foreign currency translation gains from the consolidation of its Canadian subsidiary (net of taxes). Prepare the Statement of Comprehensive Income for Ever glow Technologies Inc. for the year ended December 31, 2023. (In Table Format)
Please provide the accurate answer to this financial accounting problem using appropriate methods.
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