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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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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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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Number of Questions: (for the whole examination) 17 Total Number of Marks 75 total marks TOTAL I Students must comply w1th the General Award Rules 1A.5 and 1A.7 which outline the responsibilities of students during an examination. ACCT 7101: Accounting- Final Examination‚ Second Semester‚ 2011 PART A Multiple Choice Questions (10 marks) Each multiple choice question is worth 1 mark. All questions to be answered. Choose only one (the most appropriate) answer for each question
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IMH POOL VI LP Landlord1 c/o GREENWIN INC. 19 Lesmill Road Toronto‚ Ontario M3B 2T3 1 This is the legal name and address of the Landlord provided for purposes of the Residential Tenancies Act‚ 2006 until subsequently notified. RENTAL APPLICATION Date: New Application Assignment Sublet Transfer Bldg. No.: Albe0383 Bldg. Address: 383 Albert St. Waterloo‚ ON N2L 6E3 Suite No.: Type: NAME OF APPLICANTS FOR TENANCY: (1) D.O.B M F SIN
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ACCT 3001: INTERMEDIATE ACCOUNTING I SPRING 2014 SYLLABUS Instructor: Time and Location: Office: E-mail: Office Hours: Elizabeth Johnson‚ CPA Tuesday and Thursday 1700 BEC BEC Room 2824 eschw15@lsu.edu Tuesday and Thursday 11:30 – 1:00 Course Objective ACCT 3001 is the first course that offers an in depth examination of generally accepted accounting procedures (GAAP). In this course‚ we will review the accounting cycle and the four primary financial statements
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Acct # | Acct Title | W/P Ref | Last Years (Audited) | Current Years (Unaudited) | Dr. | Cr. | Audited | 10100 | Cash on Hand | | 1‚987.28 | 2‚275.23 | | | | 10200 | Regular Checking Account | | 198‚116.52 | 532‚125.92 | | | | 10300 | Payroll Checkiing Account | | | | | | | 10400 | Savings Account | | 3‚044‚958.13 | 3‚670‚599.15 | | | | 11000 | Accounts Receivable | | 16‚410‚902.71 | 49‚780‚259.98 | | | |
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Q1.Evaluate the following items‚ and determine the correct amount to report on the income statement for each‚ using the accrual basis of accounting for the referenced period of time. Revenues A Company had beginning accounts receivable of $8‚000. The company reported cash basis revenues of $100‚000. The ending accounts receivable amounted to $18‚000. Supplies B Company purchased $25‚000 of supplies. Supplies on hand decreased by $5‚000 during the period. Rent C Company started the year
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offers an overall mid-high income which allows us more opportunity for maintenance accts. Our target market is very accessible. Weaknesses: The general manager’s knowledge of the industry is low. GTL has little money to get the business up and running. ($35‚000) Starting off in the hole Companies are more established in the area ( Bruno landscaping has been in area since 90’s) need to acquire more maintenance accts We need to secure a line of credit. Our employee’s morale needs to be boosted
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