Chapter 9 Practice Problems S9-2. Asset Market Value Percentage of Total Value × Total Purchase Price = Assigned Cost of Each Asset Land $ 80‚000 $80‚000 / $160‚000 = 50% × $150‚000 = $ 75‚000 Building 60‚000 $60‚000 / $160‚000 = 38% × $150‚000 = 57‚000 Equipment 20‚000 $20‚000 / $160‚000 = 12% × $150‚000 = 18‚000 Total $ 160‚000 100% $ 150‚000 Date Accounts and Explanation Debit Credit Land 75‚000 Building 57‚000 Equipment 18‚000 Notes Payable 150‚000 To record
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Vocabulary Quiz Name _______________ Chapter 1 1. An accounting principle that states that assets should be recorded at their cost. 2. Debts and obligations of a business. 3. Resources owned by a business. 4. The amount by which expenses exceed revenues. 5. An association of two or more persons to carry on as co-owners of a business for
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Chapter 1 1.1 The study of Biology * Biology is the organised study of life and living things‚ and their interactions with one another and the natural environment. The importance of Biology * Biological research brought benefits to our lives and environment. a.) A better understanding of how the human body functions. b.) Finding cures for diseases. c.) Saving animal and plant species which are facing extinction. d.) A better management
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Sta. Maria‚ Oel Angel BSBA – Marketing III February 15‚ 2014 Law in Income Taxation Mrs. Gosom Business Income Tax – A tax that governments impose on financial income generated by all entities within their jurisdiction. By law‚ businesses and individuals must file an income tax return every year to determine whether they owe any taxes or are eligible for a tax refund. Income tax is a key source of funds that the government uses to fund its activities and serve the public.
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Chapter 1 Starting up a Proprietorship Proprietorship-an unincorporated business owned by one individual Easy to start Three advantages o Easily and inexpensively formed o Few government regulations o Its income is not subject to public taxation Three limitations o May be difficult for them to obtain capital needed for growth o Proprietor has unlimited personal liability o Life of a proprietorship is limited to the life of the founder Used primarily for small businesses Only account for
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Chapter 1 The Foundation of Ethical Thought Multiple Choice Questions Utilitarian Ethics: One Playground at a Time 1. Which country is the focus of “Utilitarian Ethics: One Playground at a Time”? a. India b. Bangladesh c. South Africa d. Nigeria Difficulty: Easy Page 1 2. “Utilitarian Ethics: One Playground at a Time” addresses what problem? a. not enough schools in the country b. not enough children going to school c. lack of clean drinking water in the community d. lack of shelter in the community
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Chapter 1 1.1 Introduction Billing and Collection system are very complex systems that generate water usage reports of the customers. A billing & collection system are combination of software and hardware that receives service usage information and group these information for the specific account of the customers. It also create reports of service usage and record payments consumed by the customer. Psion is a meter reading device use by Balibago Waterworks System Inc. They have been using this
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Chapter 2 The Balanced Scorecard and Strategy Map | | ------------------------------------------------- QUESTIONS 2-1 Financial performance measures‚ such as operating income and return on investment‚ indicate whether the company’s strategy and its implementation are increasing shareholder value. However‚ financial measures tend to be lagging indicators of the strategy. Firms monitor nonfinancial measures to understand whether they are building or destroying their capabilities—with customers
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Chapter 1 Lab 1-7 and Lab B exercise 6 Why is there a new or renewed interest in the field of project management? Today project management involves much more‚ and people in every industry and every country manage projects. New technologies have created a higher demand for businesses. Project management is a great significance for project involving information technology. Government’s and nonprofit organizations are recognizing to be successful‚ the need to be conversant with and use project management
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CHAPTER 1 A. INTRODUCTION Nowadays‚ we all have problems when it comes to buying. Because we exceed in buying in the markets‚ we sometimes buy expensive dishwashing liquid. It nice that we use this sometimes‚ but sometimes we run out of money because of this. We also feel rough after we wash the dishes. The kamias dishwashing liquid can be a one-step solution for this problem. Because of the high oxalic acid content‚ the extract is considered as anti-bacterial‚
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