sheet (Kimmel‚ P.D.). In order to maintain the balance that was mentioned above each business transaction that is made has an effect on at least two of these components. For example‚ if a company borrows money from a lender‚ the company’s assets will increase but the company’s liabilities will also increase by the same exact amount. The borrowed money becomes an asset but it has to be repaid and therefore it is a liability as well. This would be the same as the owner of a
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report the total cash received from customers. The Financial Accounting Standards Board allows both statements of cash flow preparation methods because the purpose is to show the cash inflows and outflows from each activity. According to Weygandt‚ Kimmel‚ and Kieso (2010)‚ the direct method shows operating cash receipts and payments‚ making it more consistent with the objective of a statement of cash flows. The FASB has expressed a preference for the direct method‚ but allows the use of either method
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Snap Fitness Cost Volume Analysis is helpful to managers in decision-making activities such as setting prices‚ determining product mix‚ and maximizing the use of production facilities. (Kimmel‚ Weygandt‚ & Kieso‚ 2009) To begin Cost Volume Analysis of a potential new Snap Fitness site‚ the following data must be considered: (1) total fixed costs‚ (2) incremental variable costs‚ (3) monthly revenue per customer‚ and (4) and desired return on investment. Projected total monthly fixed costs
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recognized as the lower of cost or market‚ or LCM (Weygandt‚ Kieso‚ & Kimmel‚ 2005). In the valuation of inventory‚ when the inventory value is lower than its cost‚ the inventory is written down to its market value or current replacement value or cost (Weygandt‚ Kieso‚ & Kimmel‚ 2005). An asset is a defined as an economic resource. It is considered to be not
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inception of the company (Kimmel‚ 2009). Virtual Business versus Brick and Mortar Business The term “brick and
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Ethical Legal Decision Making Informatics Disaster Plan Proposal‚ Part 2 The following paper is a literature review that shall focus on disaster. Numerous studies have shown that disasters disrupt the smooth running of things. The first part of this paper shall focus on business continuity steps‚ risk management and risk assessment that support data security and confidentiality during a disaster. The second part of the paper shall be an education outline for consumers and the public on access to
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emerged about Han Solo. It looks like Harrison Ford aka Han Solo might return in “Star Wars: Episode 8‚” reports The Melty Galaxy. In an interview with Jimmy Kimmel‚ Ford indicated at the return of his character. Though he did not say anything when asked about his return‚ his mime act was enough to spark rumors of a possible return. When Kimmel asked Ford if he is still part of Episode 8‚ Ford took a pause and then performed a small mime act of locking his lips and throwing the imaginary key away.
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Assignments from the Readings ACC/400 July 15‚ 2013 Assignments from the Readings Chapter 8‚ Question 3: What are essential features of the allowance method of accounting for bad debt? According to Kimmel‚ Weygandt‚ & Kieso‚2007: 1. Estimated uncollectible accounts receivable: These accounts match them against revenues in the same accounting period. 2. “Record estimated uncollectible as an increase (a debt) to bad debt expense and an increase ( a credit) to Allowance for Doubtful
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in the Pacific was on defending their military base in the Philippines‚ which was closer to Japan. (At Dawn We Slept 293-294) Chief of Naval Operations Harold R. Stark had warned the American fleet’s commander at Pearl Harbor‚ Rear Admiral Husband Kimmel on October 16‚
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on a company’s financial conditions for both the safety and profitability of their investments. The four basic financial statements are (1) Balance Sheet‚ (2) Income Statement‚ (3) Statement of Retained Earnings‚ and (4) Statement of Cash Flow (Kimmel‚ Weygandt‚ & Kieso‚ 2010). The balance sheet represents the financial position of a company for a specific period‚ and covers three main parts: Assets‚ Liabilities‚ and Stockholders’ Equity. Assets represent‚ tangible and intangible things
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