CHAPTER 5: ACCOUNTING FOR GENERAL CAPITAL ASSETS AND CAPITAL PROJECTS OUTLINE |Number |Topic |Type/Task |Status | | | | |(re: 14/e) | |Questions: | |
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CHAPTER 1 Introduction to Financial Statements Study Objectives 1. 2. 3. 4. 5. 6. Describe the primary forms of business organization. Identify the users and uses of accounting information. Explain the three principal types of business activity. Describe the content and purpose of each of the financial statements. Explain the meaning of assets‚ liabilities‚ and stockholders’ equity‚ and state the basic accounting equation. Describe the components that supplement the financial statements in an
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Mercantilism – colony exists to benefit mother country; Brit gave naval protection Indirect tax – you don’t know you’re taxed Colonies haphazardly placed Prime Minister George Grenville enforced Nav Laws: 1. Imperial trade done on Brit ships w/ ¾ crew British; 2. Only certain goods exported to foreign countries unless they go through Britain; 3. Economic diversification; 4. Colonies a protected market for low price consumer goods Sugar Act- raise tax on molasses; Woolen Act- banned export of
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chapter 3 Exe# 6 In question direct labor hours is not given‚ we can find D.Labor hours through this formula Direct labor cost = 40000 = 6250 Hours Per D.Labor hours rate 6.40 1) Prime Cost (2) Conversion Cost Material opening 24000 Direct labor 40000 + purchase 56000 FOH Applied Material available for use 80000 6250 Hours@ 8 50000 - Material ending (20000) Conversion cost 90000 Material used 60000 + Direct labor 40000 Prime Cost 100000
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CHAPTER I THE PROBLEM AND ITS BACKGROUND Introduction A growing amount of economic activity is taking place on the Internet. As a result‚ electronic payment displays a boom although paper based payment methods still dominate the payment system. Electronic Payment or on-line payment is a form of financial transactions that are made without the use of paper documents such as cheques or notes (“A consumer’s guide of electronic payments”‚ 2001). At present‚ business organizations‚ consumers and
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expected selling price. (iii) Dual Aspect The dual aspect concept can be defined as every transaction having a minimum of two entries into the accounting system. One represented by the assets of the enterprise and the other by the claims against it. Should there be a debit entry then there must be a credit entry as well. Due to this concept‚ the accounting equation ‘Asset = Equity + Liability’ is formed. Example: 1. Company ABC made payment of salary RM5000 by cheque to its staff. Using the dual
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Managerial Economics & Business Strategy Chapter 4 The Theory of Individual Behavior Michael R. Baye‚ Managerial Economics and Business Strategy‚ 6e. ©The McGraw-Hill Companies‚ Inc.‚ 2008 Overview I. Consumer Behavior Indifference Curve Analysis Consumer Preference Ordering II. Constraints The Budget Constraint Changes in Income Changes in Prices III. Consumer Equilibrium IV. Indifference Curve Analysis & Demand Curves Individual Demand Market Demand Michael R. Baye‚ Managerial
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inventory‚ salaries‚ and material‚ and revenue is generated through sales. When revenue are higher than the expenses‚ the company has an operating profit‚ and the company has an operating loss when the expenses exceed the operating revenue. 2) The accounting equation (A=L+SE) is a fundamental business concept. Explain what this equation reveals about a company’s sources and uses of funds and the claims on company resources. The equation reveals how heavily dependent a company is on debt versus owner
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its competitors priceswhich is the market price. If it raised them‚ its customers would switch all of their purchases to competing firms‚ and the first firms sales would drop to zero. 3. (Total Revenue) Look back at Exhibit 3‚ panel (a) in this chapter. Explain why the total revenue curve is a straight line from the origin‚ whereas the slope of the total cost curve changes. If the firm is operating under conditions of perfect competition‚ its output decisions cannot affect the price in the market
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Chapter Two Worldwide Accounting Diversity Learning Objectives After reading this chapter‚ you should be able to • Provide evidence of the diversity that exists in accounting internationally. • Explain the problems caused by accounting diversity. • Describe the major environmental factors that influence national accounting systems and lead to accounting diversity. • Describe a judgmental classification of countries by financial reporting system. • Discuss the influence that culture is thought to
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