STATEMENTS d 3. Pro forma financial statements are: a. statements recapping the performance of a firm for the past five years. b. accounting statements filed with the Securities and Exchange Commission. c. accounting statements filed with the Internal Revenue Service. d. projected accounting statements based on a sales forecast. e. the most-recently compiled accounting statements of a firm. PLUG VARIABLE e 4. The designated source of external financing required to make a pro forma balance sheet
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Camosun College Financial Accounting Acct110 PRACTICE Final Exam B. Edwards Name: ____________________________________________________________ ___________________ Question One: A/R and Bad debts (15 minutes) Read each transaction and record the appropriate journal entry for Morrison Consultants‚ which has a June 30 year end. Explanations are NOT required. 1. On June 30 2011‚ Morrison prepares an aging schedule of accounts receivable that shows estimated uncollectible accounts of $5‚200
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of University Textbooks When students talk about study the first thing comes to their minds will be textbooks. In university‚ almost every student needs textbooks for their courses; however‚ most of these books are heavy and expensive. Most professors require students in their classes buy the textbooks for their course. Many people think that buy the text book is not necessary. Because there are many things which are electronic equipment we can use to instead of the textbooks. But some people
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Textbooks will soon be replaced by notebook computers and tablets. Agree or disagree? With the advancement in technology‚ life has become much more convenient. These improvements in the living standards are brought about by the use of computers. In the 21st century the world has come across many innovative gadgets like tablets‚ notebook computers‚ and kindles etc. which are being used for educational purposes. Many discussions have taken place lately as to judge whether books will be replaced
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EXERCISES AND PROBLEMS ch 1 Carry Yoki’s Lounge consists of the following. Carry‚ the owner believed that people would come to hear a band play on Friday‚ Saturday‚ and Sunday evening. During the remainder of the week‚ she believed her customers would watch sporting events on several television sets located throughout the lounge. Carry employed two bartenders‚ three servers‚ two assistant servers‚ two cooks‚ one dishwasher and a clean-up person. She had a bar‚ 15 barstools‚ 4 tables‚ 40 chairs
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building was $30 million and its tax basis was $20 million. At December 31‚ 2013‚ the carrying value of the building was $28 million and its tax basis was $13 million. There were no other temporary differences and no permanent differences. Pretax accounting income for 2013 was $45 million.On January 1‚ 2010‚ Ameen Company purchased a building for $36 million. Ameen uses straight-line depreciation for financial statement reporting and MACRS for income tax reporting. At December 31‚ 2012‚ the carrying
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Workbook 0-07-877229-X 0-07-877231-1 0-07-877233-8 0-07-877235-4 978-0-07-877229-0 978-0-07-877231-3 978-0-07-877233-7 978-0-07-877235-1 ANSWERS FOR WORKBOOKS The answers for Chapter 7 of these workbooks can be found in the back of this Chapter Resource Masters booklet. StudentWorks Plus™ This CD-ROM includes the entire Student Edition text along with the English workbooks listed above. TeacherWorks Plus™ All of the materials found in this booklet are included for viewing‚ printing
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ASSIGNMENT 4 WEEK 3 SAMUEL GEORGE Financial Accounting / CHAPTER 4 | | | | | P4-1A | Thomas Magnum began operations as a private investigator on =anuary 1‚ 2008. The trial balance columns of the worksheet for THOMAS =AGNUM‚ P.I.‚ INC. at March 31 are as follows. | THOMAS MAGNUM‚ P.I.‚ =NC. | Worksheet | For the Quarter Ended March 31‚ =008 | | Trial Balance | | | | Account Titles | Dr. | Cr. | Cash | 11‚400 | | Accounts Receivable | 5‚620 | |
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Should we replace our textbooks with laptop computers? The initial reaction to this question by many people is‚ “What a ridiculous question!” However‚ there are many key issues to consider‚ like cost‚ ease of use (is the computer screen too hard on our eyes for extensive reading?)‚ maintenance and repair (if students carry them from class to class‚ will they break?)‚ but most importantly‚ student learning (what is the best way to help students learn?). In order to come to a conclusion on the
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Tablets vs. Textbooks Our technology is without doubt advancing at an exponential rate‚ but how best to use it is still being discerned. Since early Egypt to our modern day society books have been the most prevalent form of education; but now we are transitioning into a world that revolves around efficiency and effectiveness. Although we still use textbooks in our school‚ many schools are beginning to switch to electronic tablets for their economic and educational value over textbooks.
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