Wenzhou-Kean University Fall 2013 ACCT 2200 30 MINUTE QUIZ-CH.1/CH.2 True/False Circle the correct answer T 1. Accounting is the information system that identifies‚ records‚ and communicates the economic events of an organization to interested users. True T 2. Bookkeeping deals with the record-keeping process and is only one aspect of accounting. True T 3. 4. 5. 6. 7. 8. False Collection of an accounts receivable will increase both cash and accounts receivable. True F False The
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Chapter 12: Statement of Cash Flows Problem Condensed financial data used to prepare the Statement of Cash Flows is as follows: ARMA COMPANY Balance Sheet December 31‚ 2011 Assets: 2011 2010 Acct change Cash $ 90‚800 $ 48‚400 Accounts receivable 92‚800 33‚000 Incr $59‚800 subtract (-) Inventories 112‚500 102‚850 Incr $9‚650 subtract (-) Prepaid Expenses 28‚400 26‚000 Incr $2‚400 subtract (-) Investments 138‚000
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American University in Cairo (AUC) Managerial Accounting ACCT (202) Dr.Mona ElBannan Spring 2012 HANDOUT CHAPTER 5 JOB COSTING AND PROCESS COSTING Product Costing Systems Companies use various product systems to accumulate‚ track‚ and assign the costs of production (direct labor‚ direct materials‚ and overhead costs) to the goods produced & services provided by the company. Reasons behind determining the cost of the product: 1- Pricing decisions made by the marketing manager
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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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MGT 45: Principles of Accounting Undergraduate‚ Spring 2015 Tuesday and Thursday 11:00-12:20PM Wells Fargo Hall‚ Room 1N108 PROFESSOR : Joe Pecore EMAIL : jpecore@ucsd.edu PHONE : 858-534-1619 OFFICE : Otterson Hall 2E119 OFFICE HOURS : Tuesday 6:30PM-7:30PM and by appointment TEACHING ASSISTANTS/TUTORS Kathie Le‚ lekathie@gmail.com OFFICE & OFFICE HOURS : Otterson Hall Theresa Wong‚ tyw011@ucsd.edu OFFICE & OFFICE HOURS : Otterson Hall Laura Lee‚ laura.eunji.lee@gmail.com
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Revenues measure the inflow of net assets resulting from selling products or services. Failure to adjust for depreciation results in the overstatement of assets and the understatement of net income. (FALSE). Which of the following transactions would not affect owners’equity? Purchasing supplies for cash. Increased earnings do not always generate an increase in cash flow. CFO includes: selling goods‚ not: buildings‚ dividends‚ long-term debt. Depreciation reduces net income but is not related to a
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Keller Graduate School of Management ACCT 551 Course Project Notes to Financial Statements Table of Contents I. Cover Page 1 II. Table of Contents Page 2 III. Tropical Pool Cleaning Income Statement Page 3 IV. Tropical Pool Cleaning Balance Sheet Page 4 V. Notes to Financial Statements Page 5 VI. Reference Page 9 Notes to Consolidated Financial Statements NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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to 40 years for buildings. Requirement 2: Sales Journal Date Invoice Number Customer Acct Debited A/R DR Sales Rev CR Cost of Goods Sold DR Merch Inv CR Aug 2‚ 2014 503 RTL $600 $190 Aug 7‚ 2014 504 KDS $2‚400 $759 Aug 23‚ 2014 505 FCO $9‚966 $3‚152 Purchases Journal Other accts DR Date Vendor acct credited Terms a/p CR Merch inventory DR Office supplies DR Acct Title Amt Aug 3 G INC 1/15‚ n/60 1400 Aug 22 B Corp 3/15‚ n/60 510 Furniture
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Dupont Analysis J.C. Penney ’s‚ Inc. versus Nordstrom‚ Inc. | Fiscal years 2005 and 2004 Refer to Figure 1. During fiscal year 2005‚ both J.C. Penney ’s Inc. ("Penney ’s) and Nordstrom‚ Inc. ("Nordstrom") provided similar and high returns on their shareholder investments‚ at 27% and 26%‚ respectively. Both companies ’ 2005 returns on equity ("ROE ’s") are up from prior year. While Nordstrom posted a significant increase in ROE by 20% over prior year‚ Penney ’s ROE is up 152% over its 2004
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USC Fall 2014– SYLLABUS ACCT 372: Internal Reporting Issues Dr. Cecil W. Jackson Office: ACC 110 Office Hours: M/W 2:15-3:30pm: Email: ceciljac@marshall.usc.edu Phone: (213) 740-5020 Section #: 14050 Day/Time: T/Th 10:00 - 11:50am Room #: ACC 303 Section #: 14051 Day/Time: T/Th 12:00 - 1:50pm Room
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