following transactions were completed during April. (a) General Journal J1 |Date | |Account Titles and Explanation | |Ref. | |Debit | |Credit | |Apr. 4 | |Merchandise Inventory | |120 | | 840 | | | | | |Accounts Payable | |201 | |
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2011 June 1 Mr. Edgar Detoya opened a bank current account with Land Bank of the Philippines in the amount of P1‚000‚000 and invested merchandise inventory valued at P45‚000 to start with his business. GJ Cash in Bank 1‚000‚000 Merchandise Inventory 45‚000 E. Detoya‚ Capital 1‚045‚000 Initial Investment June 15 Purchased store furniture and fixtures for cash from Ayala de Cebu costing P150‚000 plus VAT of 12%. Issued Check No. 48501 covered by Check Voucher No. 001. CDJ Store Furniture
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30‚ Li Ming Co. had a $97‚500 balance in Accounts Receivable. During October‚ the company collected $88‚950 from its credit customers. The October 31 balance in Accounts Receivable was $100‚500. Determine the amount of sales on account that occurred in October. c. Nasser Co. had $147‚000 of accounts payable on September 30 and $136‚500 on October 31. Total purchases on account during October were $270‚000. Determine how much cash was paid on accounts payable during October. 2-4 Prepare general
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paid within 10 days of the invoice date. The maximum amount of interest that can be charged varies by state. 4. Phone customers and start trying to collect the day after a payment is due.Never wait -- let them know that you keep close track of your accounts receivable. 5. Until a customer pays their bills‚ don’t do any more business with them. Do not bend on this rule – you’ll only cause yourself more problems and scuttle any chance of collecting what you’re owed. If you really want to keep doing business
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illustrate my opinion. Australia is a country that has had a current account deficit for over 50 years. Furthermore‚ forecasts on this current account deficit tend to show that if there is no increase of international competitiveness and decrease of reliance of overseas capital goods‚ the situation will keep on getting worse. Nevertheless‚ if a multinational company wants to invest in a country that tends to have a current account deficit‚ it must bear in mind that one of the ways to decrease this
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Vol. 6‚ 2012-46 | November 29‚ 2012 | http://dx.doi.org/10.5018/economics-ejournal.ja.2012-46 Are Current Account Deficits Sustainable? New Evidence from Iran Using Bounds Testing Approach to Level Relationships Hassan Heidari Urmia University Salih Turan Katircioglu Eastern Mediterranean University Narmin Davoudi Islamic Azad University Abstract This paper provides new evidence on the long-run relationship between exports and imports of the Iranian economy by employing bounds testing
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Statistics‚ Economics‚ Engineering‚ and many other subjects. The following are the balances in the accounts for Joan Miller Advertising Agency as of January 31‚ 2001: Cash Accounts Receivable Fees Receivable Art Supplies Office Supplies Prepaid Rent Prepaid Insurance Art Equipment Accumulated Depreciation‚ Art eq. Office Equipment Accumulated Depreciation – Office Eq. Accounts Payable Unearned Art Fees Wages Payable Joan Miller‚ Capital Totals Debit Credit $1‚720 2
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PART – 1 INTRODUCTORY SECTION INTRODUCTION During the last decade‚ banking became the most competitive industries of Bangladesh with a huge amount of growth. A large number of new banks have made their way in the industry and yet there are more to come. In such a highly competitive service industry‚ ‘customer satisfaction’ is a very important factor to consider. High customer satisfaction and loyalty give an organization a better base than its competitors and allows it to flourish in the
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Consolidated Accounts Balance Sheet • Home Page» • Business & Economy» • Accounting Consolidated Accounts Balance Sheet C UNIT 3: CONSOLIDATED BALANCE SHEET Definition of a Group Under IAS 27 Consolidated and Separate Financial Statements‚ a group exists where one enterprise (the parent) controls‚ either directly or indirectly‚ another enterprise (the subsidiary). A group consists of a parent and its subsidiaries. Definition of Control Under IFRS 3 Business Combinations‚ control
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SECRECY OF BANK DEPOSITS LAW PEOPLE OF THE PHILIPPINES vs. JOSEPH ESTRADA AND SANDIGANBAYAN I. Problem Whether the Sandiganbayan erred in holding that the use of alias by respondent Estrada was not public‚ was allowable under banking rules‚ and was an exception to illegal use of alias punishable under CA 142; in limiting the coverage of the amended Information in Criminal Case 26565; and in departing from its earlier final finding on the non-applicability of Ursua v. Court of Appeals
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