Page #156 4-2 1. Analyzing transactions 2. Journalizing transactions 3. Posting the journal entries 4. Preparing the unadjusted trial balance 5. Journalizing and posting adjusting entries 6. Preparing the adjusted trial balance 7. Preparing the financial statements 8. Journalizing and posting closing entries 9. Preparing the post-closing trial balance Page #159 Exe. 4-4 Account Title Debit
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Week 3‚ Journal Go the Hershey website to learn how to make Hershey chocolate. (There is also a "print friendly" version of the chocolate making process at the end of the video.) Review the process and take a look at some of the videos. Pay particular attention to the process steps of milling and pressing‚ mixing the ingredients‚ and refining. In at least one paragraph‚ describe the costing system that you would recommend Hershey use to account for its cost of goods sold and why. Include a few
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GASB Article Statement No. 49 Before diving directly into the article from the Governmental Accounting Standards Board (GASB) titled Governments to Report Liabilities Connected with Their Obligations to Clean Up Pollution (2006)‚ one must first take a step back and take time to read‚ comprehend‚ and take to heart exactly what this organization stands for. Taken directly from their main web page under the tab labeled Education‚ the first thing seen in big‚ bold‚ blue letters is‚ “Due Process: The
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Throughout this week I have learned a lot more about liabilities and how to identify the major types of current liabilities. I have learned previously about currently liability and this week really gave me a fresh reminder on the two key features: A company will the debt within one year or the operating cycle (for which ever is the longest)‚ also the company is responsible expects to pay the debt from existing current assets or though the creation of other current liabilities (as mentioned in Chapter
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Individual Assignment: Types of Surveys Question 5 on p. 270 of Business Research Methods. Patricia Figueroa November 17‚ 2009 Qnt 561 Christopher Ajagu In the following situations‚ decide whether you would use a personal interview‚ telephone survey‚ or self-administered questionnaire. Give your reasons. a A survey of the residents of a new subdivision on why they happened to select that area in which to live. You also wish to secure some information
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efficiency and expected productive life of a plant asset are generally expensed when incurred. not recorded until they become material in amount. capitalized as a part of the cost of the asset. debited to the Accumulated Depreciation account 3- Multiple Choice Question 149 A gain or loss on disposal of a plant asset is determined by comparing the original cost of the asset with the proceeds received from its sale. book value of the asset with the asset’s original cost. book value of
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produce $10‚000 of net income in addition to the savings on the rental of storage space. What decision should now be made? (5 marks) (c) What nonfinancial factors should be considered in the decision? (7 marks) Question 3 (8 marks) (26-5B) Betty Dillman is an accounting major at a Midwestern state university located approximately 60 miles from a major city. Many of the students attending the university are from the metropolitan area and visit their homes regularly
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Abstract “Theory to Practice” scenario: Big Time Toymaker Big Time Toymaker (BTT) develops‚ manufactures‚ and distributes board games and other toys to the United States‚ Mexico‚ and Canada. Chou is the inventor of a new strategy game he named Strat. BTT was interested in distributing Strat and entered into an agreement with Chou whereby BTT paid him $25‚000 in exchange for exclusive negotiation rights for a 90-day period. The exclusive negotiation agreement stipulated that no distribution
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the ethical issues involved? The ethical issue involved is changing the expense report to show lower expected profits for the current year just to manipulate the growth trend of the company which is against GAAP and ethical standards of accountants. 3. What should Sue do? The facts are that there are several stakeholders that will be affected by the decision. The stakeholders involved are the banks that would be extending loans to the company based on false information. The investors will be affected
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Lind Chapter 3: Exercise 60 Owens Orchards sells apples in a large bag by weight. A sample of seven bags contained the following numbers of apples: 23‚19‚26‚17‚21‚24‚22. a. Compute the mean number and median number of apples in a bag. Total number of Problems = 11 Mean = (23+19+26+17+21+24+22)/7 = 21.71 Problems correct = 8 Median = 22 CORRECT List of # in order from low to high: 17‚19‚21‚22‚23‚24‚26 List of # in order from high
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