“JOURNAL ENTRIES” a. JIL made initial cash investment. Cash XXX JIL‚ Capital XXX b. JIL made an additional investment‚ Equipment. Equipment XXX JIL‚ Capital XXX c. Purchased equipment on account. Equipment XXX Accounts Payable XXX d. Purchased equipment for cash. Equipment XXX Cash XXX e. Purchased supplies on account. Supplies XXX Accounts Payable XXX f. Purchased supplies for cash. Supplies XXX Cash XXX g. Rendered services on account. Accounts receivable XXX Service
Premium Accounts receivable Generally Accepted Accounting Principles Accounts payable
BALANCE OF TRADE AND BALANCE OF PAYMENTS – An Introduction The balance of payments account indicates a systematic record of all export incomes and import payments of a country during any year. Any import from abroad has to be paid for. On the other hand‚ any export will bring money flow into the country. If we subtract the total value of the imported commodities from the total value of the exported commodities of a country‚ what we obtain is called the ‘Balance of Trade’ of the country. If the
Premium International trade Export
promotion. To better understand accounting we need to know why adjusting entries are so important to a business. Adjusting journal entries are made at the end of each closing period to adjust the account balances. Most of the time‚ this is necessary in order to achieve a clean cut-off at the end of the accounting period‚ and to ensure the accounts are complete‚ and accurate. Current account balances may not represent correct balances‚ because some mistakes were identified in the posting of transactions
Premium Generally Accepted Accounting Principles
form of ownership 2. All of the financial statements are for a period of time except the a. income statement. b. balance sheet c. owner’s equity statement. d. statement of cash flows 3. A trial balance will not balance if a. a journal entry is posted twice. b. a wrong amount is used in journalizing. c. incorrect account titles are used in journalizing. d. a journal entry is only partially posted. 4. In a service-type business‚ revenue is considered earned a. at the end of the month.
Premium Balance sheet Generally Accepted Accounting Principles Liability
The Balance of Payments of a country always balances The BOP accounts summarize international transactions for a specific period‚ usually a year‚ and are prepared in a single currency‚ typically the domestic currency for the country concerned. Since the balance of payment is based upon system of double-entry book-keeping‚ the total debits must equal to total credits. This is because two aspects of each transaction recorded are equal in amount but appear on opposite sides
Premium Double-entry bookkeeping system Bookkeeping Balance of payments
QUIZ CHAPTER 3 ACTG 500 BE 161 Prepare adjusting entries for the following transactions. Omit explanations. 1. Depreciation on equipment is $800 for the accounting period. 2. There was no beginning balance of supplies and purchased $500 of office supplies during the period. At the end of the period $80 of supplies were on hand. 3. Prepaid rent had a $1‚000 normal balance prior to adjustment. By year end $600 was unexpired. Solution 161 |1 |Depreciation Expense
Premium Generally Accepted Accounting Principles
Pretrial and Trial On T.V. pretrial receives very little attention but is an important aspect of the criminal justice process. There are seven steps to the pretrial process including‚ arrest and booking‚ the criminal complaint‚ arraignment and plea‚ probable cause hearing‚ discovery‚ pretrial motions and plea bargaining. First is arrest and booking‚ this step begins one of two ways. One is the typical way of making an arrest and the second way of the process starting is by having an arrest
Premium Jury Crime Criminal law
ShurShot Computer Maintenance and Repair Manual ShurShot Computer Maintenance and Repair Manual Scott V Shurter Scott V Shurter Section One……………………Computer Safety Environmental Concerns Power Protection Unauthorized Downloads Section Two……………………Computer Cleaning Tower-Dust‚ Heat‚ and Static Monitor Keyboard Mouse Section Three…………………...Hardware Replacement Replacing the Motherboard Power Supply Replacement Processor Replacement Memory Upgrade Hard Drive Replacement
Premium Personal computer Motherboard Computer
Arrogance The Trial by Franz Kafka chronicles the arrest of a worldly‚ young bank official‚ Joseph K. for an unknown crime and traces his struggles and encounters with the invisible Law and untouchable Court. Although the novel is critically acclaimed for satirizing the Austro-Hungarian bureaucracy of Kafka’s time it also seems to be criticizing the arrogance of the common people. Joseph K.’s eventual downfall is not just due to the in comprehensible judicial system but can be attributed to his
Premium Franz Kafka Bureaucracy
Solved Ans. Accounts CA IPCC Nov. 2010 1 Attention C.A. Pcc & Ipcc Students Ipcc_Nov.10 Solved Ans. Acc. Ipcc_Nov.10 Keep Watching our website* for further solution. *www.jainclassesonline.com (No.1 Institute of Jharkhand) C.A. CPT‚ PCC‚ IPCC & FINAL Solved Ans Prepared by : C.A Arvind Kumar Jain and Team Members (Disclaimer : Questions asked in the exam may have wrong/inadequate information and/or ambiguous language. In that case the answers provided by institute may differ from
Premium Balance sheet Asset Inventory