A.PREPAID EXPENSES This is an expense that is already paid but not incurred. This is exactly the opposite of accrued expense. There are two methods or approaches that can be used in recording prepayments‚ namely: Expense Method and Asset Method. a. Expense Method- under this method or approach‚ an expense ................account is debited upon payment of the prepaid expense. ................This method is also called “nominal approach” because ................an expense is an Income Statement
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ACCT1501 2012 Sem1 Tutorial Question Solution Week 5 DQ4. 14 The main reason for not including human capital on the balance sheet is the measurement problem. If we take the consulting firm‚ the problem is putting a dollar figure on each staff member. Would it be based on years of past service‚ years to retirement‚ ability to generate future revenues etc. There is also an issue of control‚ as you will see in later chapters. Options for measurement include: i Present value of future profits generated
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LedgeAccount (Also known as "T" Account and Account) Having passed the double or journal entries‚ the next step is to post these double or journal entries into Ledger accounts. Ledger account or an account is simply the classification of double entries which we have made in General Journal or any other journal. In an account we bring together all similar entries in one place. For example a company has purchased goods on 4th and 7th January‚ we would put both entries in purchases account because
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Acct 328 ® Exam 2 Part 1 – 60% Name of Company – Each student can make up a company name Type of business – service company •sole proprietorship Chart of Accounts – see below. The numbers correspond to dates in the month of February (Use journal entries only) 1. Initial capital of $100‚000 2. Prepaid rent - $19‚200 for 2 years 3. Prepaid insurance - $24‚000 for 2 years 4. Purchased a desk on account for $500 5. Purchased office supplies for $950 6. Sold 20 bicycles
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Finances in business Process-------Recording ------interpreting/analyzing -----communicating Internal external (potential investors) Users A=B+C (A)Assets = (B) Liabilities + (C) Owner’s Equity Assets = Liabilities + owner’s Equity what IS OWNED/ Owed to you Cash Loan Investments Accounts receivable Account payable Withdrawals Inventory Note payable Revenues Equipment Bond payable Expenses Prepaid Insurance Accrued
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Assignment No.1 Analysis and Design of Information System ( SAD) Course Code: CSE 312 Submission Date: 4th July 2013 Submitted To: Mr. Harsimran Singh Submitted By: Prabhjeet Singh 10810139 RST028A02 Q 1: Draw a DFD for Railway Reservation System. ANS:
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CHAPTER I Background of the Study A. Introduction A Library System is a software use to catalog‚ to track circulation and to have an inventory of the library’s assets. It often contains many thousands of books that are available in the library. This uses computer-based system to keep a record of the books and the transaction that took place. A computer- based library system allows for: * Quick and easy searching for books * Easy printing out of book list/ labels * Automatic
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control using statecharts Designing Boundary Classes Chapter 17 M8748 © Peter Lo 2007 1 Architecture of the Presentation Layer Aim to separate the classes that have the responsibility for the interface with the user‚ or with other systems (Boundary Classes) from the business classes (Entity classes) and the classes that handle the application logic (Control Classes). This is the Three-Tier Architecture. There may be more than three layers‚ and that the logical layers can map to
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Reflective Journal: (MMDA) Metropolitan Manila development Authority Office Abraham Joseph P. Salting Student‚ Technological Institute of the Philippines 113 Catalina St. Penafrañcia Cupang Antipolo City +639325040185 tabzkielito@yahoo.com ABSTRACT In this paper it contains the reflection about our fieldtrip in MMDA or metropolitan manila development authority office located at EDSA corner at Makati City. INTRODUCTION Metropolitan Manila Development Authority MMDA or Metropolitan
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Explain TPS‚ OSS‚ KWS‚ DSS‚ MIS‚ ESS‚ find information related to these systems from Internet and find how many companies provide such kind of system around the globe. Name top 5 companies who provide such systems also enlist the capabilities of these systems. Compare different vendors who provide each type of systems with respect to the functionalities and capabilities of these systems. Information systems (IS) is the study of complementary networks of hardware and software that people and organizations
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