The Accounting Process (Textbook Libby et al. Chapters 1 and 2). Objectives: When you have successfully completed this lesson‚ you will be able to... Define accounting and explain its purpose Define business and identify the different types of businesses Explain the accounting equation: Assets = Liabilities + Owner’s Equity Visualize the start of a business‚ create accounting transactions for it‚ and prepare simple financial statements Reading Assignment Please read chapters 1 and
Premium Balance sheet Generally Accepted Accounting Principles Financial statements
Week 4 Checkpoint March 17‚ 2013 XACC/290 Resource: Ch. 4 of Financial Accounting Complete Exercise BE4-1. Complete Problems 4-2A & 4-3A. BE4-1: |Cash |Net Income | |-$100 |$0 | |-$20 |$0 | |+$1‚300 |$1‚300 | |+$800 |$800 | |-$2‚500 |$0 | |-$600 |$0 | | |
Premium Generally Accepted Accounting Principles Income statement
Merchandise: Products that a company acquires to resell to customers. Merchandisers earn net income by buying and selling merchandise. -Wholesalers or retailers Wholesaler: An intermediary that buys products from manufacturers and sells them to retailers or wholesalers. Retailer: An intermediary that buys products from manufacturers or wholesalers and sells them to consumers. Cost of goods sold: The expense of buying and preparing merchandise. Gross profit: Net sales of a product – Cost of goods
Premium Revenue Generally Accepted Accounting Principles Inventory
CHAPTER 1 THE ACCOUNTANT’S ROLE IN THE ORGANIZATION TRUE/FALSE 1. Management accounting information focuses on external reporting. Answer: False Difficulty: 1 Objective: 1 Terms to Learn: management accounting Management accounting information focuses on internal reporting. 2. A good cost accounting system is narrowly focused on a continuous reduction of costs. Answer: False Difficulty: 2 Objective: 1 Terms to Learn: cost accounting A good cost accounting system
Premium Management accounting Cost accounting
of this problem is to found the price charged by Peter. Firstly‚ the below table illustrate all P‚ TR‚ TC‚ MR and MC when there is different Number of member served (Q). No. of member served (Q) Price per member(P) Total revenue (TR) Total cost (TC) Profit Marginal revenue (MR) Marginal cost (MC) 1 400 400 190 210 400 190 2 380 760 380 380 360 190 3 360 1080 570 510 320 190 4 340 1360 760 600 280 190 5 320 1600 950 650 240 190 6 300 1800
Premium Marginal cost Economics Microeconomics
Chapter 6 Summary – Friends Chapter 6 is all based the strengthening of friendship between the characters of Caitlin and Bill and of Old bill and Billy. In the section Comfort Bill talks about how he hated school and didn’t have any friends. The repetition of the negative quotes in the section emphasises how Billy did not belong in his old environment. “I never talked to girls‚ I hardly talked to anyone. Sure‚ I answered questions from teachers and occasionally I’d talk to some guys I’d know
Premium Interpersonal relationship Friendship Feeling
Chapter 6 Summary ITT Technical Institute Introduction to Networking NT1210 October 28‚ 2013 The chapter starts out explaining how a BN (Backbone Network) works. Backbone Network: Connecting all of the LANs of an organization entails another type of network (BN). A properly designed backbone network provides a high-speed circuit that serves as the central conduit across which the LANs of an organization can communicate
Premium Ethernet Computer network Local area network
*Chapter one* A meeting of the minds PROBLEM- None SOLVED- None GIFT- none *Chapter 2* Someone to count on PROBLEM- None SOLVED- None GIFT- None *Chapter 3* Beasts of my burden PROBLEM- 3 brothers had 35 camels they had to distribute where the oldest got half‚ the middle one-third‚ and the youngest one-ninth‚ but there was an uneven amount of camels. SOLVED- The man who counted added Hanak’s camel to the bunch‚ so the number of camels can be more easily divided. GIFT- In the end
Premium English-language films Question Interrogative word
`Assignments for chapters 1 through 6 EXERCISE 1.1 Each of us is confronted with decisions in our everyday lives that require us to gather and assess information on the different alternatives at hand and then make a decision. Examples of such decisions include the decision to attend college‚ buy a car or some other item‚ strike up a friendship with Person A or B‚ select a particular course‚ or take a trip to Point X or Y. You may have made an error in such decisions because your information
Premium Scientific method
Microeconomics (Fall 2014) Simon Bowmaker Problem Set 6 Submit at lecture (Monday‚ November 10) Write your answers on separate sheets of paper. Please include: your name your recitation teacher’s name day and time of the recitation NB: if your recitation takes place on Monday morning‚ you must submit your assignment to your teacher at the beginning of the recitation. 1. Assume a monopolist faces the following market demand: Q = 100 - 2P. The monopolist’s total cost function is TC = 5+8Q2. What
Premium Supply and demand Marginal cost Economics