Week 3 DQ 1: Due Day 2 Please post a 150-300-word response to the following discussion question by clicking on Reply. What is the difference between cash basis and accrual basis accounting? Why do accrual basis financial statements provide more useful information than cash basis financial statements? Describe when each method (cash basis and accrual basis accounting) would be appropriate to use. * Cash basis accounting recognizes revenues when cash is received and records expenses
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ACCT2522 Management Accounting 1 Session 1‚ 2013 Tutorial Week 3 – Cost basics Overall Theme We will explore fundamental assumptions of cost functions and discuss the relationships between cost behaviour‚ cost estimation and cost prediction. The concept of cost driver analysis and its application to cost estimation and cost management will also be discussed. We will also describe how to estimate cost behaviour using managerial judgment‚ engineering methods and other quantitative techniques.
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stock 140‚000 115‚000 Retained earnings 37‚000 55‚000 Total liabilities and stockholders ’ equity $220‚000 $195‚000 Additional information: 1. Net loss for 2002 is $14‚000. 2. Cash dividends of $4‚000 were declared and paid in 2002. 3. Land was sold for cash at a loss of $5‚000. This was the only land transaction during the year. 4. Equipment with a cost of $15‚000 and accumulated depreciation of $10‚000 was sold for $5‚000 cash. 5. $14‚000 of bonds were retired during the year
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Comparing IFRS to GAAP Essay John Lebo ACC/291 8 July 2015 Paul Brown Comparing IFRS to GAAP Essay Some steps which both the FASB and the IASB have taken in regards to moving the fair value measurement for the financial instruments have come a long way. FASB and ISAB are each individually‚ for the majority moving forward towards a fair value measurement for the financial instruments areas. Each believes in the fair value measurement rule to be a much more accurate description of how a company’s
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Week 3 Individual Assignment Shelley Ashburn ENG/135 April 2‚ 2013 Treva Hereford Week 3 Individual Assignment Chapter 4 1. We request that you use the order form supplied in the back of our catalog. To help process your order please use the order form supplied in the back of our catalog. 2. We insist that you always bring your credit card to the store. So that we can faster serve your needs‚ always bring your credit card to the store. 6. To avoid the loss of your credit rating‚ please
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be for strategic reasons‚ such as gaining some influence over customers or suppliers. 2. A company might have excess cash that it doesn’t need for operations due to seasonal fluctuations‚ or it could result from a better than normal economic cycle. 3. The typical investment when investing cash for short periods of time is low-risk‚ highly liquid securities that are usually short-term government securities. 4. Typical investments when investing cash to generate earnings are debt securities from banks
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Case Study 2-4: Better Boston Beans ACCT530 Accounting Ethics and Related Regulatory Issues Week 3 May 21‚ 2015 From the perspective of six pillars of character‚ if I were Cindie‚ I would be honest with Lyndell and tell him what’s been bothering me. Hopefully‚ by keeping quiet about him leaving early‚ he will feel that I’m trustworthy enough to tell me his problems‚ whether it’s drinking or any other problems he is facing in his life. I might be able to help him or at least come up with
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E4-3. The following control procedures are used in Elke Company for over-the-counter cash receipts. 1. Cashiers are experienced; thus‚ they are not bonded.Internal Control Weakness: There is a higher chance of theft with more experienced cashiers. Change: Cashiers should be bonded experience or not experienced. 2. All over-the-counter receipts are registered by three clerks who share a cash register with a single cash drawer.Internal control weakness: Disorganization and interference may
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expenditures essential to obtain the asset and make it prepared for its specific purpose. B. 1. Land 2. Factory Machinery 3. Delivery Equipment 4. Land Improvements 5. Delivery Equipment 6. Factory Machinery 7. Prepaid Insurance 8. License Expense E9-7 A. 1. 2011: $3‚500 2012: $3‚500 2. $0.28 per mile 2011: $4‚200 2012: $3‚360 3. 2011: $7‚500 2012: $5‚625 B. 1. Depreciation Expense 3‚500 3‚500
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ACC 291 WileyPLUS Week 2 Assignment Questions 1-6 Exercise E8-3 Exercise BE9-13 Exercise Do It! 9-4 Exercise E9-9 Exercise E9-10 Problem P9-5A University of Phoenix Question 1 | | The ledger of Hixson Company at the end of the current year shows Accounts Receivable $120‚000‚ Sales $840‚000‚ and Sales Returns and Allowances $30‚000. If Hixson uses the direct write-off method to account for uncollectible accounts‚ journalize the adjusting entry at December 31‚ assuming Hixson
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