Instructions for the Microsoft Excel Templates by Rex A Schildhouse | | Be advised‚ the template workbooks and worksheets are not protected. Overtyping any data may remove it. | | | Extensive detail and information is contained within the help function of Microsoft Excel and in the provided text. | | You should enter your name‚ date‚ instructor’s name‚ and course into the cells at the top of the page. This information will be printed on the top of each page if the template requires
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COST ACCUMULATION: SUMMARY OF ESSENTIAL TRANSACTION JOURNAL ENTRIES: TRANSACTIONS JOURNAL ENTRIES 1. Purchase of Direct Raw Materials - Initial Journal Entry Raw Materials - Direct xxx Cash / Accounts Payable xxx - To record purchase of Direct Raw Materials. 2. Purchase of Indirect Raw Materials - Initial Journal Entry Raw Materials
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400 | | Equipment | 30‚000 | | Notes Payable | | 10‚000 | Accounts Payable | | 12‚350 | Common Stock | | 20‚000 | Dividends | 600 | | Service Revenue | | 13‚620 | Salaries Expense | 2‚200 | | Travel Expense | 1‚300 | | Rent Expense | 1‚200 | | Miscellaneous Expense | 200 | | | ------------------------------------------------- 55‚970 | 55‚970 | Other data: 1. Supplies on hand total =380. 2. Depreciation is $1‚000 per =uarter. 3. Interest accrued on
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342-346) Problem 7.8 – Trotman and Gibbins (2005) Barber Ltd has the following data for a recent period: $ 12‚000 30‚000 46‚200 7‚000 5‚500 Beginning inventory Purchases (all credit) Sales (all credit) Ending inventory count Operating expenses (all cash) The company’s mark-up is 40% on cost Assuming all purchases and sales were in single transactions prepare summary journal entries as well as closing entries using: 1. perpetual inventory 2. periodic inventory 1 Solution to
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Reporters: (GROUP 5) DAYAO‚ Floravel MACUSI‚ Melva PAQUITOL‚ Marcelyn JUGANAS‚ Remedios FAINZAN‚ Rose Anne BALWEG‚ Dia Felice BUDIKEY‚ Lilian COMMISSION ON AUDIT CIRCULAR NO. 85-55A September 8‚ 1985 AMMENDED RULES AND REGULATIONS ON THE PREVENTION OF IRREGULAR‚ UNNECESSARY‚ EXCESSIVE OR EXTRAVAGANT EXPENDITURES OR USES OF FUNDS AND PROPERTY AIM: a)To amplify the existing rules and regulations governing the prevention of IUEE expenditures or uses of government funds and
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Sale of new common stock 50‚000 Cash sales 75‚000 57‚000 Total receipts 200‚650 192‚150 Total Available Cash 220‚650 212‚150 Less: Disbursements Purchases of inventory 171‚000 106‚200 Operating expenses 15‚000 15‚000 Selling and administrative expenses 10‚150 10‚150 Equipment purchase 19‚000 Dividends 20‚000 Total disbursements 196‚150 170‚350 Excess (deficiency of available cash over disbursements) 24‚500 41‚800 Financing
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An expense is normally incurred by a firm to generate sales‚ e.g. promotional expenses which are selling expenses which are directly related to the generation of sales. Most of the expenses normally form a part of operating expenses and are included in ‘cost of sales’. It may either be raw materials‚ labor‚ etc.‚ or capitalized assets which are either depreciated or amortized over a period of time. These are known as matching costs. The other types of costs are ‘period costs’ which are mostly mentioned
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Total (Rs.) A. Direct Materials Consumed : Purchases .............. Add : Opening Stock of Raw material .............. Expenses on Purchases .............. Less : Closing Stock of Raw Material .............. Direct Material consumed .............. .............. B. Direct Labour (Wages) .............. C. Direct Expenses .............. D. Prime Cost (A + B + C) .............. E. Factory/Works Overheads • Indirect materials‚ bolts‚ nuts‚ screws‚ thread
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department or function in a business is responsible for the performance of his or her department or function. Separate operational‚ or functional‚ budgets must be prepared for each department or activity detailing the department’s revenue (if any) and expenses for a given period. The budgets will be prepared for sales‚ production‚ purchasing‚ personnel‚ administration‚ treasury (cash and banking)‚ etc. opinions differ as to who should prepare these budgets. Top-down budgets are prepared by top management
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corresponding previous year period reported under other expense. The Consolidated accounts include accounts of CRISIL and its wholly owned subsidiaries CRISIL Risk and Infrastructure Solutions‚ Pipal Research Analytics and Information Services India.‚ CRISIL Irevna UK and its subsidiary‚ CRISIL Irevna US LLC‚ CRISIL Irevna Argentina SA‚ CRISIL Irevna Poland‚ CRISIL Irevna Information Technology (Hangzhou). and proportionate share in income and expenses of joint venture India Index Services & Products.
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