CHAPTER 2 DOUBLE ENTRY SYSTEM AND BALANCING OFF THE LEDGER OBJECTIVES. At the end of the chapter reader is expected to understand - what a double entry system is - peculiarity of double entry system in accounting. - how a transaction can be posted in order to adhere with double entry system. - what make up a ledger - how ledger can be balanced up. INTRODUTION To make a relevant disclosure of transaction in accounting sense‚ it is necessary to open up all the items affected by a transaction
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Q. Timing of entry into the Indian market brought different results for PepsiCo and Coca Cola India. What benefits or disadvantages accrued as a result of earlier or later market entry? Introduction When an organization has made the big decision to enter into an overseas market‚ there are many options in relation to entry modes it must consider. The options vary from cost‚ risk and control measures associated to each. Here I will try and evaluate the Indian market and the benefits and disadvantages
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The Midnight Journal Entry Anne T. Lawrence‚ San José State University On an overcast afternoon in Portland‚ Oregon‚ on Friday‚ March 28‚ 2003‚ Richard Okumoto intently studied a set of hard-copy accounting documents called “adjusting journal entries” spread out on his desk. He had been appointed chief financial officer (CFO) of Electro Scientific Industries‚ Inc. (ESI)‚ a multi-million dollar equipment manufacturer‚ just a few weeks earlier. Okumoto was in the midst of closing the company’s
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On Friday‚ March 28‚ 2003‚ Richard Okumoto intently studied a set of hard-copy accounting documents called “adjusting journal entries” spread out on his desk. He had been appointed chief financial officer (CFO) of Electro Scientific Industries‚ Inc. (ESI)‚ a multi-million dollar equipment manufacturer‚ just a few weeks earlier. Okumoto was in the midst of closing the company’s books for the third quarter of fiscal year 2003‚ which ended February 28. An experienced executive who had served
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What is air pollution? Air pollution -is the introduction into the atmosphere of chemicals‚ particulates‚ or biological materials that cause discomfort‚ disease‚ or death to humans‚ damage other living organisms such as food crops‚ or damage the natural environment or built environment. The atmosphere is a complex dynamic natural gaseous system that is essential to support life on planet Earth. Stratospheric ozone depletion due to air pollution has long been recognized as a threat to
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The advent of computers has revolutionized the workplace and redefined operational practices. The use and deployment of computers‚ computer systems and information technology (IT) applications in every aspect of business is now commonplace. The recent application and adoption of Web-based‚ information and telecommunication technologies has force-multiplied the capabilities and benefits of computers. The importance of computers in business cannot be overstated. Collaboration o Businesses are using
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Rabindranath Tagore | Tagore c. 1915‚ the year he was knighted byGeorge V. Tagore repudiated his knighthood‚ in protest against the Jallianwala Bagh massacrein 1919.[1] | Born | May 7‚ 1861 Calcutta (Kolkata)‚ Bengal Presidency‚ British India | Died | 7 August 1941 (aged 80) Calcutta (Kolkata)‚ Bengal Presidency‚ British India | Occupation | Poet‚ short-story writer‚ song composer‚ playwright‚ essayist‚ and painter | Language | Bengali‚ English | Nationality | Indian | Ethnicity
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TITLE “Internationalization Process of Toyota in Europe from the Perspectives of Entry Mode and Network Structure” London School of Commerce (LSC) University of Wales Institute of Cardiff (UWIC) Student Name: Miss. Sajida Ramzan Student ID: 0089kkvl0409 Course: BABS 6 (HONS) Subject: Disertation Lecturer: Dr. Gerald Pollio Executive Summary Problem‚ Purpose and Method Decision-makers‚ like sailors‚ need to know how to ride out a potential storm and to understand how the
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Job Order Cost System There are two main cost accounting systems used: Job order cost systems and Process cost systems. Both have very distinct differences that help each specialize in a certain type of manufacturing company. The job order cost system in particular is used to "provide product costs for each quantity of a product that is manufactured." When a product is called to be manufactured‚ then it is called a job. Once the job is ordered‚ the manufacturing company must go through a flow
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Adjusting Entries – Examples Let’s work with some examples. We are working with a one year accounting period that ends on 12/31/X2. Let’s use a three step process. Step 1 – Analyze the transaction. Step 2 – Record in the journal. Step 3 – Post to the ledger. Example 1: On 12/31/X2 (before the adjusting process)‚ Supplies‚ an asset‚ has a balance of $2‚500. Employees take a physical account of the supplies on hand. That physical count reveals that $1‚200 of supplies remains. Step 1 ‐‐ The balance
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