the asset computers‚ increase the asset cash‚ decrease the liability accounts payable. b. increase the asset computers‚ increase the asset cash‚ decrease the liability accounts payable. c. increase the asset computers‚ decrease the asset cash‚ increase the liability accounts payable. d. increase the asset computers‚ decrease the asset cash‚ decrease the liability accounts payable. Question 2 Complete Mark 1.00 out of 1.00 Flag question Question text If only one side of a $100 transaction is recorded
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500‚ Merchandise Inventory $1‚700‚ and J. Hafner‚ Capital $4‚200. The following transactions were completed during April. (a) General Journal J1 |Date | |Account Titles and Explanation | |Ref. | |Debit | |Credit | |Apr. 4 | |Merchandise Inventory | |120 | | 840 | | | | | |Accounts Payable
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Foundation University Masters in Business Administration MBA 06a Managerial Accounting Report on Factory Overhead: Actual‚ Planned and Applied Submitted to: Engr. Marlon Tanilon Submitted by: Hazel R. Tanilon 04 February 2012 Factory Overhead • Defined as indirect material‚ indirect labor and other that cannot be conveniently identified with or charged
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is account receivable? Credit sales‚ sales on account b. How do accounts receivable differ from notes receivable? Notes Receivable arises when the seller asks for a note to replace an Accounts Receivable when the customer requests additional time to pay a past-due account. A promissory note is a written promise to pay a specific amount of money‚ usually including interest‚ at a future date. c. What is a contra asset? An account which offsets another account. A contra-asset account has
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Accounting for Receivables Definition Receivables are amounts due from other persons or entities. Receivables are highly liquid‚ which means it is expected that they will be converted into cash quickly‚ and are classified as current assets. Types of Receivables Accounts Receivable: amounts due from customers for sales on credit. Businesses sell to customers on credit in an attempt to increase their sales. Also called Trade Debtors. Bills Receivable: similar to accounts receivable but bills receivable
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Accounts receivable is a legally enforceable claim for payment from a business to its customer/clients for goods supplied and/or services rendered in execution of the customer’s order. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame. Accounts receivable is shown in a balance sheet as an asset. It is one of a series of accounting transactions dealing with the billing of a customer for goods and services that the
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Example of a good CV Stephanie Smith 19 Station Road Hunslet Leeds LS3 3SL Tel No: 0113 3110 1103 Mobile: 0777 0007 Email: S.Smith@uni.ac.uk A friendly‚ caring and hardworking undergraduate with a range of related experience‚ looking for employment opportunities working with children in a social supportive environment. Key Skills • Creative: Able to provide creative solutions to problems. When working as a support assistant one child in my care refused to enter the classroom. I introduced a game
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efficient and durable sports motorcycles. This gives birth to Phoenix Junior Sports bikes. The phoenix junior sports motorcycle is equipped with a power rating from 125cc to 200cc‚ single cylinder 4 stroke engine which made major sales in the Philippines. After two years of operation‚ the demand of VAMA’s customers evolve from junior sports bikes to full size branded sports bikes which let the company collaborate again with international manufacturers‚ including Japan‚ the number one branded motorcycle
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confirming year-end accounts receivable‚ auditors hope to accomplish the objective of obtaining evidence from third parties to evaluate the client’s assertions of year-end accounts receivable amounts. The client’s assertions that accounts receivable confirmation can effectively address are existence‚ rights‚ and valuation. (b) When performing year-end sales cutoff tests‚ auditors hope to accomplish the objective of obtaining evidence from third parties to evaluate the client’s assertions of sales recorded
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Accounts Receivable: There are several controls in accounts receivable. A thorough audit should be daily comparing the checklist and the system records in customers’ accounts. This is to ensure the payment received is applied to the right customer. A second control is to check if customers’ balances in record are true. One simple way is to send current statements to customers monthly. Customers can help identify if there is any discrepancy between their record and the account statement. A
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