chart of accounts. ANS: A DIF: Easy OBJ: LO 6-1 MSC: AACSB Communication 5. Owner’s equity can be increased through a. withdrawals by the owner. b. investments by the owner. c. expenses exceeding revenues. d. purchases of assets for cash. ANS: B DIF: Easy OBJ: LO 6-1 MSC: AACSB Communication 6. The balance in an expense account is closed to a(n) a. capital account. b. revenue account. c. drawing account. d. income summary account. ANS: D DIF: Easy OBJ: LO 6-2 MSC: AACSB Communication 7. The
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across several states in the Southeast. It had sales of $2.7 million during the last year. Expenses were as follows: Cost of goods sold............................... $1.2 million Administrative expenses........................ $250‚000 Marketing and selling expenses............... $175‚000 Depreciation........................................ $500‚000 Interest expense.................................. $200‚000 Dividends paid......................
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machine is an Expense‚ because is going to be used uo in the process of earning revenue. b. It is an expense‚ because the delivery would help to do the job and have revenue. c. It is an expense too‚ because the employees help to earn revenue. d. This expense do not represent expenses in March because is a service rendered in January‚ so it is a January expense. e. Dividends are not an expense because do not generate revenue. Chapter 4 Exercise 4.3‚ page 170 1. Rent Expense $240.000
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Receivables‚ Allowance for Doubtful Accounts‚ Bad Debt ExpenseInventories and Reserve for Inventory Obsolescence Prepaid Insurance and Insurance Expense Machinery‚ Equipment‚ and Office Furniture Accounts Payable Taxes Payable Line of Credit Sales‚ Sales Returns‚ Net Sales – Relationship to Inventory Research & Development Administrative Wage Expense Miscellaneous Income The following refers to GA-7.5 – Selected Ratio Comparison: Days Sales in Inventory Days Sales in Accounts Receivable
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BIBLIOGRAPHY References The IUP Journal of Bank Management‚ Vol. X‚ Issue no.3‚ 2011 A Publication of the Market Technicians Association‚ New YorK International Journal of Research in Commerce & Management‚ VOLUME NO: 2 (2011)‚ ISSUE NO. 5 (MAY) The American Association of Individual Investors ’ independent "real time" study‚ April and August 2003 William O’Neil (2002)‚ How to make money in Stocks? Tata Mcgraw –Hill. William O’Neil (2006)‚ what is CANSLIM?”Investor’s Business Daily‚March
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Problem 3-7 QED ELECTRONICS COMPANY Income Statement for the month of April‚ ----. | Sales | | $33‚400 | Expenses: | | | Bad debts | $ 645 | | Parts | 3‚700 | | Interest | 880 | | Wages | 10‚000 | | Utilities | 800 | | Depreciation | 2‚700 | | Selling | 1‚900 | | Administrative | 4‚700 | ______ | Profit before taxes | | 25‚325 | Taxes | | 8‚075 | Net income | | $5‚275. | Truck purchase has
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| |148‚000 | | | | | |Less other expenses:
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stock outstanding ------------------------------------------------- 3) Marsh Company has other operating expenses of $240‚000. There has been an increase in prepaid expenses of $16‚000 during the year‚ and accrued liabilities are $24‚000 lower than in the prior period. Using the direct method of reporting cash flows from operating activities‚ what were Marsh’s cash payments for operating expenses? A. $228‚000 B. $232‚000 C. $200‚000 D.
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Question 1 (Total 10 Marks) Instructions: Indicate in which journal the transactions given below would be recorded by placing the appropriate journal abbreviation in the space provided. Abbreviation Journal GJ General Journal CB Cash & Bank Book SJ Sales Journal SR Sales Return Journal PJ Purchases Journal PR Purchases Return Journal CB 1. Received cash on outstanding amount from customer. SR 2. Customer returned merchandise sold on account. CB 3.
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North South University Act 201 Assignment Semester : Summer - 2010 Date Of Submission : 08 - 08 – 2010 Name : Saif Uddin Siddique I D : 102 0610 0 3 0 Faculty : Mdm Section : 03 Question No. 1 : Explain using various examples‚how the
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