is difficult to budget our allowance for food and academic requirements. Instead of having extra money for these expenses‚ additional fare will consume the money. The partition of our daily budget will be sacrificed. Student discount is our last hope to lessen our expenses. Unfortunately‚ the Department of Transportation and Communication denied the request for the discount. DOTC stated that it would affect the operational efficiency of LRT and MRT. After all‚ discounts will make no difference because
Premium Public transport
ACC 211-MIDTERM EXAM (Chap 1 thru 5) MC Qu. 113 An example of a financing activity is: An example of a financing activity is: Buying office supplies. Obtaining a long-term loan. Buying office equipment. Selling inventory. Buying land. MC Qu. 114 An example of an operating activity is: An example of an operating activity is: Paying wages. Purchasing office equipment. Borrowing money from a bank. Selling stock. Paying off a loan. MC Qu. 117 Net Income: Net Income:
Premium Generally Accepted Accounting Principles Balance sheet Income statement
1. Pricing decisions Factors to consider when setting prices All profit organizations and many non profit organizations must set prices on their products or services. Simply defined‚ price is the amount of money charged for a product or service. More broadly‚ price is the sum of the values consumers exchange for the benefits of having or using the product or service. A company ’s pricing decisions are affected both by internal company factors and by external environmental factors. These factors
Premium Marketing Pricing
/Stock valuation losses Add back Non cash expense that reduced profit 10 Stock gain Deduct Non cash gain or profit 11 Discount Allowed Add back Non cash expense that reduced profit 12 Discount Received Deduct Non cash gain or profit 13 Bad debts Add back Non cash gain or profit [direct method] 14 Doubtful debts Add Back Non cash gain or profit [allowance method] 15 Sales returns/allowances Add back Non cash expense [ contra entry] that reduced profit 16 Purchases returns Deduct Non cash gain or profit
Premium Balance sheet Generally Accepted Accounting Principles
4. c. 9. d. 5. a. 10. c. 15-2. a. ERIKSTEIN COLLEGE GENERAL JOURNAL Debits Credits 1. TUITION AND FEES RECEIVABLE 195‚800 TUITION & FEES DISCOUNT AND ALLOWANCES 48‚700 TUITION AND FEES—UNRESTRICTED 244‚500 2. CASH 2‚415 PLEDGES RECEIVABLE 550 CONTRIBUTIONS—UNRESTRICTED 2‚080 CONTRIBUTIONS—TEMPORARILY RESTRICTED 550
Premium Generally Accepted Accounting Principles Asset Depreciation
company owns and intends to sell. Beginning inventory + Net purchases = Merchandise available for sale Ending inventory + Cost of goods sold = Merchandise available for sale Discount period: Time between the invoice date and a specified date on which the payment owed can be reduced because of early payment. Cash discount: A discount given to buyers to encourage them to pay earlier. Sales return: Merchandise that customers return to the seller after a sale. Purchase return: Merchandise a buyer purchased
Premium Revenue Generally Accepted Accounting Principles Inventory
Purchases . . . . . . . . . . . . . . . . . . . . . . 810‚000 Marketable securities . . . . . . . . . . . . . . . . 15‚000 Purchase discounts . . . . . . . . . . . . . . . . . 20‚000 Purchase returns and allowances . . . . . . . . . . . 2‚000 Extraordinary loss due to earthquake‚ net of applicable taxes of $15‚000. . . . . . . . . . . . 35‚000
Premium Generally Accepted Accounting Principles Balance sheet
Lecture 3 : Corporate Tax Tutorial Question Question 1 Dinishah Sdn Bhd manufactures glass products for both the local and export markets. The company’s income statement for the year ended 31 December 2011 is as follows: Notes RM Sales revenue 1‚200‚000 Less: Cost of sales 1 (230‚000) Gross profit 970‚000 Operating expenses 2-6 (650‚000) Profit before tax 320‚000 Notes 1 Cost of sales includes the following: RM Provision for stock obsolescence
Premium Revenue Depreciation Expense
Insurance expense will increase $2‚250. Insurance expense will increase $750. A customer purchased and received $5‚000 of goods on credit from Discount Paper Supply on September 1. The customer received the bill on September 13 and mailed a $5‚000 check on September 30. Discount Paper Supply received the check on October 4. On which of the following dates should Discount Paper Supply record sales revenue? October 4 September 30 September 1 September 13 Sparty Corporation has provided the following information
Premium Generally Accepted Accounting Principles Balance sheet Revenue
E6-5 (Computation of Present Value) Using the appropriate interest table‚ compute the present values of the periodic amounts‚ shown on page 344‚ due at the end of the designated periods. (a) $50‚000 receivable at the end of each period for 8 periods compounded at 12%. 50‚000* 4.9676= $248‚380 (b) $50‚000 payments to be made at the end of each period for 16 periods at 9%. 50‚000* 8.3126= $415‚630 (c) $50‚000 payable at the end of the seventh‚ eighth‚ ninth‚ and tenth periods at 12%. 50‚000*
Premium Generally Accepted Accounting Principles Revenue Accounts receivable