company has large percentages of accounts payable and long-term debt (37% and 41% respectively). When we put these pieces of information we can see how a department store can have financial data that is consistent with firm A. The majority of transactions would be cash sales; however the company still has some accounts receivables‚ this could be explained by the customers who choose to use the department store’s own credit card. The large amount of accounts payable is used to buy inventory for the department
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Nature of Merchandising Business • Revenue activities of a merchandising business involve the buying and selling of merchandise. They purchase merchandise which is resold to customers. • Comparison to Service Business |Service Business |Merchandising Business | |Fees earned |Sales
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Assignment Please note you have three assignments for this week. The case study‚ the weekly assignment and continue working on the final draft for the individual research project. Case Study (Knapp book): Dollar General Stores Questions 1-4 Weekly Assignment: Textbook (Boynton book): Complete and submit the following questions for grading: 14-26 14-28 15-23 15-27 16-24 16-33 14-26 (Analytical procedures) the following data was taken from the production and account ing records for Casuccio Manufacturing
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Records Acquisition and payment cycle involves the decisions and processes necessary for obtaining the goods and services for operating business. The cycle begins with initiation of a purchase requisition of a product and ended with payment account payable. Processing Purchase Orders The exact form of the request and the required approval depend on the nature of the products and the company policy. The common documents include: 1. Purchase Requisition: used to request products by an authorized employee
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Financial statements will match up revenues to expenses incurred while earning them. This more accurately shows results of operations. No receivables At the point of sale a receivable is recorded even though payment was not received No payables Payables are taken down when payment is not made at time of purchase. No tracking of partial payments available. Revenues and expenses are recorded in full‚ even if payments are made over time. The
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Social Bond Theory Social bond theory was created by Travis Hirschi and it is a form of social control theory. Social control theorists are more interested in explaining why someone is not being deviant rather than why they are. In this theory it is expected that deviance will occur at some point. Hirschi’s social bond theory explains that deviane is expected to occur because crime is easy to do; you do not need any special skills to commit crimes. Everyone has the same amount of motivation to
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IDETIFYING DIFFERENT SOURCES OF FINANCE TO PLC ADVANTAGES AND LIMITATIONS Kensington College and Business & University of Wales In this article has been investigated about15 sources of capital finance available to PLCs January 2011 Nahid Mohsen Pour Nahid Mohsen Pour 2 identifying different sources of finance to Plc‚ advantages and limitations Contents QUESTION .........................................................................................................
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2. Develop a context diagram and a level O DFD for the cash receipts system at Starducks 3. Prepare a document flowchart to document the cash receipts at Starducks Narrative #2 Virginia Bagonggahasa has decided to analyze the accounts payable process at Mekeni Rogers. Her intent is to document how to present system works so the transition to a computerized system will be easier. She also hopes to improve any weaknesses she discovers in the system. In the following narrative‚ Virginia explains
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internal controls of Woolworths‚ and will look to describe and analyse them with the use of flow charts. The report will then move onto give details of an audit program that has been designed to test the internal controls of Woolworth’s accounts payable. Moreover‚ possible ways of how controls could be overridden as well as how the overall system could be realistically improved will also be discussed within the report. Business Introduction Woolworths is a supermarket chain situated within Australia
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The basic principles of an accounting information system include all of the following except | | | Student Answer: | | cost effectiveness. (Cost effectiveness is one of the basic principles of accounting information systems.) | | | | flexibility. (Flexibility is one of the basic principles of accounting information systems.) | | | | useful output. (Useful output is one of the basic principles of accounting information systems.) | | | | periodicity. (Correct! Periodicity
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