goods:- Consignment account (With the cost of goods) To Goods sent on consignment account (2) On payment of expenses on dispatch:- Consignment account (With the amount spent as expenses) To Bank account (3) On receiving advance: Cash or bills receivable account (With the amount cash or bill) To Consignee’s personal account (4) On the consignee reporting sale (as per A/S):- Consignee’s personal account (With gross proceeds
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Tugas 04 - Accounting for Managers Kelompok 4: 1. Haris Pratama Loeis 1306497062 2. Ibrahim Adam 1306497075 3. Jati Perdana 1306497144 4. Maydhani Arnia E.P. 1306497226 5. Meiryanti Andryani 1306497251 Problem 5-4 (in USD) Days Account Outstanding Amount Probability of Collection Allowance Amount Write-Off Amount Less than 16 450‚000.00 0.99 4‚500.00 - 16 to 30 150‚000.00
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result in account receivable is low. Number 2 is computer software development. Because there is no inventory‚ meanwhile computer software development need put lots of effort to R&D. Airline is number 3. Inventory is a small amount. But because of the nature and cost of airplanes‚ the ROE and financial leverage is remarkable. Railroad is number 4. Railroad is a long-term project‚ and need to borrow massive amount of capital. I see it from high percentage of account receivable‚ account payable‚ at
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Bank Accounting (FI-BL) Release 4.6C HELP.FIBL Bank Accounting (FI-BL) SAP AG Copyright © Copyright 2001 SAP AG. All rights reserved. No part of this publication may be reproduced or transmitted in any form or for any purpose without the express permission of SAP AG. The information contained herein may be changed without prior notice. Some software products marketed by SAP AG and its distributors contain proprietary software components of other software vendors. Microsoft ‚ WINDOWS
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Received cash from clients on account‚ $1‚750. 9. Paid cash for a newspaper advertisement‚ $300. 13. Paid office station company for part of the debt incurred on april 5‚ $400. 15. Recorded services provided on account for the period May 1-15‚ $6‚100. 16. paid part-time receptionist for two weeks’ salary including the amount owed on April 30‚ $750. 17. Recorded cash from cash clients for fees earned during the period May 1-16‚ $8‚200. 20. Purchased supplies on account‚ $400 21. Recorded services
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Sheppard observed the demand of foundation far outstripped supply in the region and long waits for foundation construction had become standard. ori Norm Sheppard have requested on July 30‚ 2007 an amount of $350‚000 loan from Mr. Brad Mac Dougall‚ account manager at the Canadian Commercial Bank (CCB). To know whether or not this amount needs to be passed depends on several factors thus for this purpose there are several questions that are needed to be answered before this decision can be made‚ thus
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C521 Exam 1 Name: | Imtiaz Ahmed | You have three hours to take and submit this exam. You must save this file using the following convention: LastnameFirstname (for example‚ my exam would be saved as SmithReed.docx). If you do not have the most current version of Word‚ that is OK. The file extension might be .doc instead. The document is protected (Tools menu) so that the data in the answer cells is type-restricted. You may unprotect the document in order to “paste” excerpts from Excel
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match the written off account with the period in which the sale was made. There are three essential accounting features to the allowance method: 1. Uncollected debt for accounts receivable are matched against revenues within the same accounting period in which they are recorded. 2. Estimated uncollected debt are debited to bad debts expense and credited to Allowance for Doubtful Accounts via an adjusting entry at the end of each period. 3. Allowance for Doubtful Accounts are actually debited
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Overview Mitten Manufacturing Ltd.’s (MML) sole shareholder and owner‚ Angela Mitten‚ has made the decision to sell her ownership in the business in order to be able to retire in the near future. MML produces children’s mittens and scarves. Prospective buyer‚ John Kachurowski‚ feels that this purchase would result in synergies and economies of scale with his current company that manufactures winter jackets. If this acquisition does go through‚ it is quite likely that the share price would increase
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invoice is sent to the customer and the others are retained by the seller. Credit Memo- The credit memo is a document which will indicate a reduction in the amount due from a customer due to returned goods or any allowances given. It reduces the accounts receivable rather than increasing it. Remittance Advice- Is a document mailed to the customer and returned to the seller at the time of cash payment. It has the customer name‚ invoice number‚ and invoice amount. Monthly Statement to Customer- A monthly
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