Managerial Accounting - 99267

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deepeyes
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Solution Description

 

 

 

 

Managerial Accounting

Student’s name

Institution

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Step 1

Summary of Errors in the Form of the PPMC Report

  1. There are sentence fragments and punctuation errors in the first paragraph of the report under the heading “CORPORATE HOUSE”, as follows:

We have prepared the attached projected Statement of the Net Income for a twelve month period for the Purchase Point Media.,(The Company”) from the information supplied to use by the management  and from various other periodicals and reports.

Thus the comma after full stop i.e. Media., is a punctuation error. Also, the inverted comma i.e. company” is a punctuation error.

  1. Also, in the first sentence of in the introduction paragraph uses “twelve month” in a singular form when it require plural. “… Net Income for a twelve month period for the Purchase Point Media…”
  2. The report is addressed to “dear sirs” while the attention is direct to a single person i.e. “Attention:  Albert Folsom”

Summary of Errors in the substance of the PPMC Report

  1. The report claims that the Projected Statement of the Net Income has been done in accordance with GAAP regulations, but under GAAP there no such financial statement.
  2. Note 15 of the report contain an apparent additional math error in the table. Specifically on the Annual Remuneration column. The total amount should be $289,000 instead of the $290,000
  3. Note 6 contain an apparent math additional error in the table. Specifically on the commissions column. The total amount in the column should be $18, 504, 000 instead of the reported total of $18,954,000.

Step 2

Table

PPMC

 

First year

 

Note

J

F

M

A

M

Attachments
Managerial_Accounting.docx
Managerial_Acco...