Q2) sea company had the following transactions :
... 1. ( ) Reliability of information means that the information is free of error and bias. 2. ( ) The economic entity assumption states that the economic life of a business can be divided into artificial time periods 3. ( ) The full disclosure principle requires that circumstances and events that make ...
... 1. ( ) Reliability of information means that the information is free of error and bias. 2. ( ) The economic entity assumption states that the economic life of a business can be divided into artificial time periods 3. ( ) The full disclosure principle requires that circumstances and events that make ...
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... The list price of $2000 was subject to a trade discount of 20 % and a cash discount of 5 %. Payment was made immediately. 2 A bad debt of $400 was written off. What was the total of current assets on 2 October 2005? A ...
... The list price of $2000 was subject to a trade discount of 20 % and a cash discount of 5 %. Payment was made immediately. 2 A bad debt of $400 was written off. What was the total of current assets on 2 October 2005? A ...
chapter 2
... Internal/External Use of Accounting Information Accounting data is used inside and outside the company. Company managers use accounting information to determine such things as which product lines to expand or discontinue, while investors use accounting data to decide whether to invest in a certain c ...
... Internal/External Use of Accounting Information Accounting data is used inside and outside the company. Company managers use accounting information to determine such things as which product lines to expand or discontinue, while investors use accounting data to decide whether to invest in a certain c ...
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... owner’s equity would be affected by this transaction? 1) Assets will decrease by $20,000 and owner’s equity will decrease by $20,000. 2) Assets will decrease by $20,000, owner’s equity will increase by $14,000, and liabilities will increase by $6,000. 3) Assets will decrease by $14,000 and owner’s e ...
... owner’s equity would be affected by this transaction? 1) Assets will decrease by $20,000 and owner’s equity will decrease by $20,000. 2) Assets will decrease by $20,000, owner’s equity will increase by $14,000, and liabilities will increase by $6,000. 3) Assets will decrease by $14,000 and owner’s e ...
2015-230 Presentation of Financial Statements of Not-for
... b. Composition of net assets with donor restrictions at the end of the period and how the restrictions affect the use of resources. Disagree in part – narrative about how the composition affects the use of resources is subjective, may be duplicative of information already in the financials and adds ...
... b. Composition of net assets with donor restrictions at the end of the period and how the restrictions affect the use of resources. Disagree in part – narrative about how the composition affects the use of resources is subjective, may be duplicative of information already in the financials and adds ...
It is recommended that you use a direct internet connection when
... instructor for lack of active participation prior to the census (20%) date and any time up to the 60% date. A student also shall be dropped by the instructor anytime up to the 60% date when he or she has been absent from or not actively participating in class for a total of two consecutive weeks, or ...
... instructor for lack of active participation prior to the census (20%) date and any time up to the 60% date. A student also shall be dropped by the instructor anytime up to the 60% date when he or she has been absent from or not actively participating in class for a total of two consecutive weeks, or ...
Rubric for Power Point Presentation
... alternative proposed in the text, applied them to the case correctly, and evaluated their effectiveness by linking to the causes for fraud from question 1 on causes for fraud Identified one or more ethical models, considered alternatives and compared them, and formulated an action plan based on the ...
... alternative proposed in the text, applied them to the case correctly, and evaluated their effectiveness by linking to the causes for fraud from question 1 on causes for fraud Identified one or more ethical models, considered alternatives and compared them, and formulated an action plan based on the ...
Chapter 16, TEST 16B
... all revenue items and their total, followed by all expense items and their total, to produce a difference that is either net income or net loss. _____ _____ 3. Gross sales plus sales returns and allowances is called net sales. _____ _____ 4. Gross profit less operating expenses produces the income f ...
... all revenue items and their total, followed by all expense items and their total, to produce a difference that is either net income or net loss. _____ _____ 3. Gross sales plus sales returns and allowances is called net sales. _____ _____ 4. Gross profit less operating expenses produces the income f ...
Ch 7 slides
... Traditional cost systems usually rely on volume measures such as direct labor hours and/or machine hours to allocate all overhead costs to products. ...
... Traditional cost systems usually rely on volume measures such as direct labor hours and/or machine hours to allocate all overhead costs to products. ...
LESSON ONE
... If the statement of recognised gains and losses is presented it is also necessary to include by way of a note a reconciliation of the opening and closing balances on Share Capital, Revaluation Reserve and Profit and Loss a/c. The fourth of the basic financial statements recognised in IAS 1, the Cash ...
... If the statement of recognised gains and losses is presented it is also necessary to include by way of a note a reconciliation of the opening and closing balances on Share Capital, Revaluation Reserve and Profit and Loss a/c. The fourth of the basic financial statements recognised in IAS 1, the Cash ...
Regulating Corporate Annual Reports in Australia
... the accountingstandards. In 1946, the Instituteissueda seriesof five Recommendations of Accounting Principles whichcovered thetreatment and disclosureof various items. However, such recommendationswere not ...
... the accountingstandards. In 1946, the Instituteissueda seriesof five Recommendations of Accounting Principles whichcovered thetreatment and disclosureof various items. However, such recommendationswere not ...
Chapter 9 Notes
... transactions for the month are recorded. Adjusting entries are obtained from the adjustment column of the WS. The heading, Adjusting Entries, is written in the middle of the Account title column of the journal. ...
... transactions for the month are recorded. Adjusting entries are obtained from the adjustment column of the WS. The heading, Adjusting Entries, is written in the middle of the Account title column of the journal. ...
Glosarry of Business Terms
... due date, and interest rate. Book value ‐‐ total assets minus total liabilities. (See also net worth.) Book value also means the value of an asset as recorded on the company's books or financial reports. Book value is often different than true value. It may be more or less. Breakeven point ‐‐ the am ...
... due date, and interest rate. Book value ‐‐ total assets minus total liabilities. (See also net worth.) Book value also means the value of an asset as recorded on the company's books or financial reports. Book value is often different than true value. It may be more or less. Breakeven point ‐‐ the am ...
LO1 - McGraw-Hill Education Canada
... • Study the accounting methods – LO2 Explain and apply the revenue and matching principles. – LO3 Analyze, record, and summarize the effects of operating transactions, using the accounting equation, journal entries, and ...
... • Study the accounting methods – LO2 Explain and apply the revenue and matching principles. – LO3 Analyze, record, and summarize the effects of operating transactions, using the accounting equation, journal entries, and ...
REPORTS TO: General Manager - California Special Districts
... PHYSICAL DEMANDS: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While perfo ...
... PHYSICAL DEMANDS: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While perfo ...
sample final exam MBA_607___final_exam_APRIL 2012 (1)
... C. As compared with the FIFO method of costing inventories, does the LIFO method result in a larger or smaller net income in a period of rising prices? Why? D. Adina Inc. uses the declining balance method to calculate depreciation on manufacturing equipment. The rate is 20%, and the equipment they b ...
... C. As compared with the FIFO method of costing inventories, does the LIFO method result in a larger or smaller net income in a period of rising prices? Why? D. Adina Inc. uses the declining balance method to calculate depreciation on manufacturing equipment. The rate is 20%, and the equipment they b ...
Transaction Analysis
... Generally Accepted Accounting Principles Generally Accepted Accounting Principles (GAAP) - A set of rules and practices, having substantial authoritative support, that the accounting profession recognizes as a general guide for ...
... Generally Accepted Accounting Principles Generally Accepted Accounting Principles (GAAP) - A set of rules and practices, having substantial authoritative support, that the accounting profession recognizes as a general guide for ...
Accounting Brief - Venture Mentors, LLC
... All sales are included in this line. If there are returns, discounts or credits, these should be separated in lines under sales and totaled, so there is a total net sales line. If there are different types of products, it is often beneficial to have a sales line for each type of product. This makes ...
... All sales are included in this line. If there are returns, discounts or credits, these should be separated in lines under sales and totaled, so there is a total net sales line. If there are different types of products, it is often beneficial to have a sales line for each type of product. This makes ...
Accounting Methods - Cash Basis and Accrual Basis
... treasurer will be able to both understand historical data and consistently process new transactions. Additionally, financial statements should be presented in such a way that they are easily comprehended. A congregation’s financial condition needs to be clearly understood by lay and rostered leaders ...
... treasurer will be able to both understand historical data and consistently process new transactions. Additionally, financial statements should be presented in such a way that they are easily comprehended. A congregation’s financial condition needs to be clearly understood by lay and rostered leaders ...
Chapter 3/Unit 4 Review Sheet 4/Preparing the Income Statement
... financial statements be defined and be consistent from one accounting period _____________________________________________________________________________ to another. _____________________________________________________________________________ ...
... financial statements be defined and be consistent from one accounting period _____________________________________________________________________________ to another. _____________________________________________________________________________ ...
Lesson 1 PowerPoint
... the residual interest in the assets of an entity that remains after deducting its liabilities. Called shareholders’ equity or stockholders’ equity for a corporation. Increases in equity of a particular business enterprise resulting from transfers to it from other entities of something of value to ob ...
... the residual interest in the assets of an entity that remains after deducting its liabilities. Called shareholders’ equity or stockholders’ equity for a corporation. Increases in equity of a particular business enterprise resulting from transfers to it from other entities of something of value to ob ...
Elements of the Income Statement
... each of the company’s stockholders’ equity accounts, including the change in the retained earnings balance caused by net income and dividends during the reporting period. STATEMENT OF CASH FLOWS – reports inflows and outflows of cash during the accounting period in the categories of operating, inves ...
... each of the company’s stockholders’ equity accounts, including the change in the retained earnings balance caused by net income and dividends during the reporting period. STATEMENT OF CASH FLOWS – reports inflows and outflows of cash during the accounting period in the categories of operating, inves ...
Presentation Title - Financial Management Services
... • Operating 60* and/or 66* accounts • R&R 92* account • Plant 95* account ...
... • Operating 60* and/or 66* accounts • R&R 92* account • Plant 95* account ...
Learning to Love ABC- GARY COKINS
... recognition that most data for decision making need not be accurate to several decimal places, any organization can implement ABC. ...
... recognition that most data for decision making need not be accurate to several decimal places, any organization can implement ABC. ...
Edward P. Moxey
Edward Preston Moxey, Jr. (Oct. 2, 1881 - April 6, 1943 ) was an American accountant, and the first Professor of Accounting at the Wharton School of Finance and Commerce at the University of Pennsylvania. He is known for his early works on cost keeping in factories, which describe the elementary principles of cost accounting.