calculate the following: Sales returns $ 700 Rent expense 1‚288 Sales discounts 950 Depreciation expense 600 Cost of merchandise sold 7‚600 Gross sales 20‚900 Advertising expense 1‚650 Salary expense 2‚900 Heat expense 900 A. Net sales B. Gross profit C. Total operating expenses D. Net Income 14.A truck costing $25‚000 with a residual value of $5‚000 was purchased by Rim Corporation. The truck’s estimated life is 10 years. At the end of Year 2‚ what is the book value using declining-balance method
Premium Generally Accepted Accounting Principles Revenue Marketing
The International Accounting Standards Committee was formed in 1973. This committee was the first international standard-setting body. In early 2001‚ this Committee was reorganized and became the the International Accounting Standards Board (IASB) to independently develop and establish a single set of accounting procedures for international business. Since the reorganization of the IASB‚ the use of these international financial reporting standards (IFRSs) have been required or permitted in over 100
Premium International Financial Reporting Standards Financial Accounting Standards Board Financial statements
ACC 557 Week 9 DQ1 "Cash Flow Reporting" Please respond to the following: Given the complexities related to preparing and interpreting the statement of cash flow‚ evaluate the current requirement under GAAP and IFRS‚ indicating improvements that you would make to each method’s requirement to better serve the users of the information. Provide a rationale for your changes. Analyze the impact of erroneous classifications in the Operating Activities section of the statement of cash flows‚ detailing
Premium Cash flow statement Cash flow Financial statements
Ethics Case Assignment ACC 349 August 9‚ 2014 Richard Ballas Good work this week on your individual assignments. Ethics Case Assignment Ethics Case INCLUDEPICTURE http//edugen.wiley.com/edugen/courses/crs4477/common/art/pixel.gif MERGEFORMATINET BYP1-6Wayne Terrago‚ controller for Robbin Industries‚ was reviewing production cost reports for the year. One amount in these reports continued to bother himadvertising. During the year‚ the company had instituted an expensive advertising campaign
Premium Ethics Generally Accepted Accounting Principles Depreciation
Axia College Material Appendix C Rights and Responsibilities of Educators and Students Perform a search in the University Library databases and locate four school-related court cases (with outcomes decided)‚ two which involve educators as defendants and two which involve students as defendants. Fill in the table below. When you give your informed opinion‚ state and discuss whether you agree or disagree with the outcome. Base your opinion on legal and ethical standards as discussed in Ch. 9
Premium Education Teacher Plaintiff
Week Four Team Reflection Tara Bolton‚ Misty Lambou‚ Kenneth Maxwell‚ Jeanette Platt ACC/422 November 26‚ 2012 Instructor: Don Minyard Week Four Team Reflection During Week Four Team D discussed the objectives learned in Week Three. In the following paragraphs‚ Team D will provide examples of the effect of using different depreciation methods and its effects of decision-making by the management. Team D will also analyze why reporting intangible assets are challenging for accountants. Depreciation
Premium Generally Accepted Accounting Principles Management Psychology
This work of ACC 422 Week 2 Individual Assignment includes: Chapter 8 1) Question 8-13 2. Due Day 7 (Monday): Exercises from the Text Prepare written responses to the following assignments from the text‚ Intermediate Accounting‚ 12th ed.: Chapter 7 1) Exercise E7-2 E7-2 (Determine Cash Balance) Presented below are a number of independent situations. Instructions For each individual situation‚ determine the amount that should be reported as cash. If the item(s) is not reported as cash‚ explain
Premium Generally Accepted Accounting Principles Accounts receivable Cheque
Week 5 – Assignment Ilba Rodriguez ACC 205: Principles of Accounting I Prof. Theresa Murray November 16‚ 2014 Problem 1 – Liquidity ratios. A. Edison Stagg Thornton Current ratio 3.56 3.69 3.83 Quick ratio 3.06 2.78 2.5 Current ratio calculations: Edison ($6‚000 (cash) + $3‚000 (short-term investments) + $2‚000 (AR) + $1‚000 (inventory) + $800 (prepaid expenses)) / ($200 (AP) + $3‚100 (notes payable) + $300 (accrued payables)) = 3.56 Stagg ($5‚000 (cash) + $2‚500 (short-term investments) + $2‚500
Premium Finance Financial ratio Generally Accepted Accounting Principles
Appendix A Subdivisions of the Genre of Poetry Narrative Poetry 1) Ballad - A narrative poem that has a refrain and is written as a song‚ usually telling of an exciting or dramatic episode. 2) Epic - A very long poem about the adventures of a hero written in lofty language. Lyric Poetry 1) Haiku - Originally a Japanese form of poetry about nature that has three lines and seventeen syllables. The first and third lines have five syllables‚ and the second line has seven syllables.
Free Poetry Poetic form
Team D Reflection During Week Two of ACC/291 Team D’s objective was to discuss the week’s topics as outlined in the syllabus. Additionally‚ team members were to discuss any challenges or problems with the topics that may have been experienced. Below is a summary of Team D’s discussion for Week Two. Objective 2.1 Differentiate among accounts payable‚ notes payable and accrued expenses. The team’s objective was first to differentiate and explain accounts payable‚ notes payable and accrued expenses
Premium Management Scientific method Thought