Week One Exercise Solutions -Set A 1. Recognition of normal balances | | | | | | The following items appeared in the accounting records of Triguero’s‚ a retail music store that also sponsors concerts. | Classify each of the items as an asset‚ liability; revenue; or expense from the company’s viewpoint. Also indicate the normal account balance of each item. | | | | | | Classification | Normal Balance | a. The albums‚ tapes‚ and CDs held for sale to customers. | A | Debit
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Week One Exercise Solutions -Set B 1. Recognition of normal balances The following items appeared in the accounting records of Triguero’s‚ a retail music store that also sponsors concerts. Classify each of the items as an asset‚ liability; revenue; or expense from the company’s viewpoint. Also indicate the normal account balance of each item. Classification Normal Balance a. Amounts paid to a mall for rent. E Debit b. Amounts to be paid in 10 days to suppliers
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Suggests alternative phrasing and sentence structure Provides detailed stylistic diagnostics Angus Jones & Partners‚ LLC Financials – Balance Sheet Assets Current Assets Cash & equiv Accts Receivable Inventories Other Total CA 2010 2009 290 251 459 428 411 425 59 50 1219 1154 Liabilities Current Liabilities Accts Payable Notes Payable Accrued Expenses Total CL Long Term Liabilities Deferred Taxes Long Term Debt Total LT Liab Total Liab SE/OE 2010 262 71 158 491 2009 245 66 257 568 212
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Chapter 7 Fund Analysis‚ CashFlow Analysis‚ and Financial Planning 7.1 Van Horne and Wachowicz‚ Fundamentals of Financial Management‚ 13th edition. © Pearson Education Limited 2009. Created by Gregory Kuhlemeyer. After Studying Chapter 7‚ you should be able to: 1. 2. 3. 4. 5. 6. 7. 7.2 Explain the difference between the flow of funds (sources and uses of funds) statement and the statement of cash flows – and understand the benefits of using each. Define "funds" and identify sources and uses
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Executive Compensation ACCT 530 General rules Defined as: “the wage and benefit packages that comprise the pay received by top executives of business corporations.” Pertinent Codes and Regulations §162(a)(1) Allows a deduction for reasonably-based salaries and other performance-based compensations §162(m) Disallows deduction of greater than $1 million for publicly held corporations Reg. §1.162-7(b)(3) Reasonable compensation is “paid for like services by like enterprises
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Ethics in Accounting Mistakes Julia Brewer Acct-530-61365 March 9‚ 2014 The following report will discuss Case 1-8 A Faulty budget included in chapter one of the text book Ethical Obligations and Decision Making in Accounting: Text and Cases‚ 2nd Edition. In this case‚ Jackson Daniels is an accountant for Lynchberg Manufacturing and had been employed there since graduating college a couple years back. Daniels was responsible for creating the sales budget for sales of machines manufactured by
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Case Study: Appaloosa County Day Care Center‚ Inc. Florida Memorial University Bus 501 Accounting for Management Fall 2011 Dr. Rosalie C. Hallbauer Aldon Hemmans Mary Saddler Gerald Turner Identify the services or program to be included in the cost and profitability analysis. The Department of Human Services licensing regulations of a staff to child ratio that all licensed facilities must follow. If a center pays just the minimum wage at least $1.95 per hour would
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AutoRama Drive N Nicholas Boothe December 1‚ 2009 Business Plan ENTR280-01 Executive Summary AutoRama Drive N is a startup business located in the southern Indianapolis area. AutoRama provides the community with an old fashioned 50’s style diner/drive-in that serves a variety of grilled and fried foods‚ as well as healthier alternatives. AutoRama is not the everyday low quality fast food restaurant. AutoRama prides itself in the quality of food‚ and the cheap prices it is able to offer
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Reserve’s Balance Sheet Assets Liabilities Securities + $1 billion Reserve acct. of securities dealers’ banks + $1 billion _____________________________________________________________________________________________
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consecutive years‚ dividend payments were distributed to shareholders • • • • ACCT 551 Financial Accounting & Reporting‚ Fall 2014 Group-2 2 INTRODUCTION cont. • More than 37‚000 employees worldwide • Approximately 7‚900 employees engaged in research and development • Clinical research conducted in more than 55 countries • Research and development facilities located in 9 countries • Manufacturing plants located in 13 countries ACCT 551 Financial Accounting & Reporting‚ Fall 2014 Group-2 3 INDUSTRY
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