780683648 ------------------------------------------------- Email: faisal.yousufzai7@gmail.com Business Management graduate with specialized academic qualification in financial management and accounting including financial controls and financial report writing. Skilled in Information Technology applications and various financial software. Having experience and skills in business development and research.Have proven competencies including promoting team
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Week 2 I)Frontier Park was started on April 1 by C.J Mendez and associates. The following selected events and transactions occurred during April. April 1 Stockholders invested $40‚000 cash in the business in exchange for common stock. 4 Purchased land costing $30‚000 for cash. 8 Incurred advertising expense of $1‚800 on account. 11 Paid salaries to employee $1‚500. 12 Hired park manager at a salary of $4‚000 per month‚ effective May 1. 13 Paid
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1. | Question : | Li Retailing reported the following items for the current year: Sales = $3‚000‚000; Cost of Goods Sold = $1‚500‚000; Depreciation Expense = $170‚000; Administrative Expenses = $150‚000; Interest Expense = $30‚000; Marketing Expenses = $80‚000; and Taxes = $300‚000; Li’s operating profit margin is equal to | | | Student Answer: | | 25.67% | | | | 35.67% | | | | 36.67% | | | | 50.00% | | Instructor Explanation: | Operating Profit Margin = EBIT/Sales
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* Identify the four major lines. * (1) The heart line. * (2) The head line. * (3) The life line. * (4) The fate line (not everybody has this). * * 3 Interpret the heart line. This line can be read in either direction (from the pinkie finger to the index finger or vice versa) depending on the tradition being followed. It’s believed to indicate emotional stability‚ romantic perspectives‚ depression‚ and cardiac health. The basic interpretations
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| |7. |Of the two methods of accounting for uncollectible receivables‚ the allowance method provides in advance for uncollectible | | | |receivables. |True False | |8. |Generally accepted accounting principles do not normally allow the use of the direct write-off method of accounting for |
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3/13/01 9:40 M Page 9 PART I Purpose of Cost Accounting 9 CH01_Bragg_36794 3/13/01 9:40 M Page 10 CH01_Bragg_36794 3/13/01 9:40 M Page 11 CHAPTER 1 Role of Cost Accounting When properly implemented‚ the cost accounting function can have a pervasive influence in the modern corporation. Unfortunately‚ it is not always properly implemented because management often is not completely aware of all the uses to which the cost accounting function can be put. This chapter describes
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Masters of Business Administration – MBA Semester 1 MB 0041 – Financial and Managerial Accounting – Assignment Roll No. 1305015785 Name of the Student: Pallab Kakoti Email id: ksetrajna@gmail.com Mobile : 958 256 3250 Q1. Accounting is one of the oldest‚ structured management information system. Give the meaning of accounting and book keeping? Explain the objectives of accounting? Accounting‚ as an information system is the process of identifying‚ measuring and communicating the economic
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Chapter 3—THE BASICS OF ADJUSTING ENTRIES Study Objectives—after studying the chapter‚ you should be able to: 1. Explain the time period assumption. 2. Explain the accrual basis of accounting. 3. Explain why adjusting entries are needed. 4. Identify the major types of adjusting entries. 5. Prepare adjusting entries for deferrals (prepayments). 6. Prepare adjusting entries for accruals. 7. Describe the nature and purpose of an adjusted trial balance. 8. Prepare adjusting
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FINANCIAL ACCOUNTING III – ACCT 3018 ASSIGNMENT 1 DUE : TOTAL MARKS = 50 QUESTION 1 Marks=10 Listed below are items that are treated differently for accounting purposes than they are for tax purposes. Indicate whether the items are permanent differences OR temporary differences. For temporary differences‚ indicate whether they will create future tax assets or future tax liabilities 1. Advance rental receipts Temporary difference‚ deferred tax asset 2. Membership costs in a health
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Chapter 6: Revenue RecognitionRead: Chapter 6 and partly 13 on warrantyIn-class exercises: BE6-7‚ EX6-11‚ EX6-9‚ EX6-16‚ EX6-18 Practice exercises: EX6-7‚ BE6-11‚ P6-1‚ P6-2‚ E13-17 There are two main conceptual views on how to account for revenues/sales: Earnings approach Contract-based approach Earnings Approach Revenues are recognized when the following criteria are met: 1. Performance is achieved: a. risks and rewards transferred and/or earnings process substantially complete‚ and
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