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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NOVEMBER 20 PAYROLL Glo-Brite Paint Company Employee List 11/20/-- Emp. Employee Soc. Sec./ # Pay G.L. Salary/ No. Name/Address Mar. Stat. Periods Acct. Rate 100 BONNO‚ Anthony Victor 537-10-3481 26 54 17.65 694 Bristol Avenue Married
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Minerals (KFUPM) in Saudi Arabia are required to take two courses in Principles of Accounting. The courses are designated as Acct 201 and Acct 202 and they are taught during the somophere year in fully coordinated sections. Both courses are taught in small lecture sections ranging from 15-20 students meeting three hours a week. The textbook used in teaching Acct 201 and Acct 202 is: Fundamental Accounting Principles by Larson & Pyle. Three examinations including the final are given in each class
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Appendix 1 - Department of Accounting SWOT Analysis Department of Accounting Meeting Minutes 1:00PM – 3:30 PM February 28‚ 2007 Revised April 20‚ 2007 by AAC Otto Martinson led the department in a “SWOT” analysis that resulted in the following list of Strengths‚ Weaknesses‚ Opportunities‚ and Threats: Strengths • Dedicated Hard Working Faculty • High Quality Faculty in terms of teaching/research/practice • Wide range of faculty expertise • Relatively newly renovated Buildings • Mediated Classrooms
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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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