1. Because adjusting entries assure that the balance sheet and income statement are up to date based on the accrual base of accounting and need to balance out the accounts based on when things are actually earned‚ Starbucks might record adjusting entries for asset accounts including: Cash and cash equivalents Accounts receivable Inventories Prepaid expenses/current assets Deferred income taxes Plant and equipment Other assets Goodwill 2. Starbucks might record adjusting entries for liability
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Elementary School Submitted by: Montes‚ Mikaella – Leader Arguelles‚ Jayson Bugarin‚ Diana Colanggo‚ Mark Shan Flaviano‚ Juvy Galase‚ Estenely Garcia‚ Olek Von Submitted to : SIR MARCELINO J. KELARIO JR. Instructor CHAPTER 1 : Introduction and its Background 1 INTRODUCTION Enrollment serves as a vital part in the life of every student upon entering schools or universities‚ either public or in private. Enrollment System is used for student information records. A well-built Enrollment
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Problem 6-36 1. Machine supplies: $102‚000 / 34‚000 DLH = $3/hr January: 23‚000 DLH x $3 = $69‚000 Depreciation: Fixed at $15‚000 2. Plant maintenance cost: | March | January | | (34‚000 hrs) | (23‚000hrs) | Total cost*Less: Machine Supplies DepreciationPlant maintenance | $ 586‚000(102‚000) (15‚000)$ 469‚000 | $ 454‚000(69‚000) (15‚000)$ 370‚000 | *Excludes supervisory labor cost Variable maintenance cost
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Chapter 01 Accounting: Information for Decision Making True / False Questions 1. Managerial accounting information is designed primarily to assist investors and creditors in deciding how to allocate scarce resources. True False 2. Return on investment is the same as return of investment. True False 3. The IRS tax return is one of the primary financial statements. True False 4. Management accounting refers to the preparation and use of accounting information
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BUS110- CHAPTER 1 CHAPTER 1 SUMMARY 1.Describe the relationship between profit and risk‚ and show how businesses and nonprofits can raise the standard of living for all. 2.Compare and contrast being an entrepreneur and working for others. 3.Analyze the effects of the economic environment and taxes on businesses. 4.Describe the effects of technology on businesses. CHAPTER 1 SUMMARY‚ CONTINUED 5.Demonstrate how businesses can meet and beat competition. 6.Analyze the social changes affecting businesses
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1. A major advantage of the partnership form is that the personal assets of the partners are protected from creditors in case of legal action- False 2. A partnership is considered an “entity” for accounting purposes- True 3. “Mutual agency” means that one partner can legally bind all the other partners to a contract if it appears that he or she is acting appropriately- True 4. Partners are taxed on their drawings regardless of their share of the income. False 5. If a partnership agreement
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chapter 3 Exe# 6 In question direct labor hours is not given‚ we can find D.Labor hours through this formula Direct labor cost = 40000 = 6250 Hours Per D.Labor hours rate 6.40 1) Prime Cost (2) Conversion Cost Material opening 24000 Direct labor 40000 + purchase 56000 FOH Applied Material available for use 80000 6250 Hours@ 8 50000 - Material ending (20000) Conversion cost 90000 Material used 60000 + Direct labor 40000 Prime Cost 100000
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Chapter 4 1. If you invest $1000 today at an interest rate of 10% per year‚ how much will you have 20 years from now‚ assuming no withdrawals in the interim? SOLUTION: n PV FV PMT Result 20 2. i 10 1000 ? 0 FV =6‚727.50 a. If you invest $100 every year for the next 20 years‚ starting one year from today and you earn interest of 10% per year‚ how much will you have at the end of the 20 years? b. How much must you invest each year if you want to have
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Fundamental Economic Concepts: Introduction CHAPTER 1: 1. Risk is best thought of as a. the chance that the actual return will be zero or negative b. the chance that the actual return will differ from the expected return c. the chance that the expected return will be lower than what investors demand d. the chance that the expected return will be incorrectly estimated 2. Which of the following is INCORRECT about risk-averse investors? a. They always try to minimize their risk regardless
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Using MIS 4e Chapter 1 The Importance of MIS This Could Happen to You: “You’re Fired” Jennifer lacks skills FlexTime needs Abstract reasoning skills Systems thinking skills Scenario Video Collaboration skills Experimentation skills Copyright © 2012 Pearson Education‚ Inc. Publishing as Prentice Hall 1-2 Chapter Preview “But today‚ they’re not enough.” Do you find that statement sobering? If timely‚ hard work isn’t enough‚ what is? We’ll begin this book by discussing the
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