Sales 9. 59‚000 2‚500 Sales Accounts Receivable – H 10‚000 / 200 x (200 – 150) = 2‚500 180‚000 Accounts Receivable – I 10. 180‚000 Inventory 120‚000 Cost of Sales 11. 2‚500 120‚000 Sales Returns and Allowances Sales 5‚000 5‚000 Problem 3 (Blooms Company) Account 1 2 3 4 5 6 Total Per client 12‚000 22‚000 97‚600 20‚000 55‚000 7‚500 215‚300 Adjustment Per audit (98‚800) (98‚800) Age Classification Not due 1-60
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MULTIPLE CHOICE 1. Cash consists of all of the following except a. deposits in savings accounts. b. money orders from customers. c. compensating balances. d. IOUs from customers. ANS: D PTS: 1 OBJ: LO1 NAT: AACSB correlation: analytic LOC: Learning Type: Recall KEY: cash and cash equivalents 2. A company’s acceptance of credit cards like Visa is an example of a. securitization. b. factoring with recourse. c. discounting. d. factoring without recourse. ANS: D PTS: 1 OBJ: LO1 NAT: AACSB correlation:
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Capital 400‚000 b. Accounts Receivable 500‚000 Allowance for Uncollectible Accounts 50‚000 Alonzo‚ Capital 450‚000 c. Inventories 240‚000 Alonzo‚ Capital 240‚000 P300‚000 x 80% = P240‚000 d. Equipment 540‚000 Alonzo‚ Capital 540‚000 P900‚000 x 6/10 = P540‚000 E 2-2 1. Cash 450‚000 Accounts Receivable 180‚000 Merchandise Inventory 270‚000 Equipment 125‚000 Allowance for Uncollectible Accounts 10‚000 Accounts Payable
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Macroeconomic Definitions Absolute advantage | Absolute advantage occurs when a country or region can create more of a product with the same factor inputs | Accelerator effect | Planned capital investment by private sector businesses is linked to the growth of demand for goods and services. When consumer or export demand is rising strongly‚ businesses may increase investment to expand their production capacity and meet the extra demand. This process is known as the accelerator effect. But the
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leaders are minimum wage employees and since they have no incentives they do not report accidental or deliberate wastages to managers. Moreover they fear of getting snubbed by co-workers in university classes. The restaurant employees get a food allowance if they work continuously for four and one-half hours. Some employees who work less than four and one half hours indulge in consumption of food secretly while some provide free soft drinks and chips to their friends to become popular in school. These
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unimportant‚ canteen choice seem to be discrepant with a framework where customers optimize their food costs‚ where effort to access the canteen location being one component of their budget. Like any other consumers‚ students too‚ have their food allowance n budget. That’s the reason why almost of the PWU canteen’s is uniformly priced and is within financial means of students. Students enjoy almost the same price for sandwiches that range from P25to P35 while students lunch is served from P 40 to P70
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Expatriate‚ Multinational‚ Allowance‚ Premium‚ Manager. Introduction For multinational firms‚ successful management of compensation and benefits requires knowledge of the employment and taxation laws‚ customs‚ environment‚ and employment practices of many foreign countries. Also needed are familiarity with currency fluctuations and the effect of inflation on compensation‚ and an understanding of why and when special allowances must be supplied and which allowances are necessary in what countries
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from the Readings Chapter 8‚ Question 3: What are essential features of the allowance method of accounting for bad debt? According to Kimmel‚ Weygandt‚ & Kieso‚2007: 1. Estimated uncollectible accounts receivable: These accounts match them against revenues in the same accounting period. 2. “Record estimated uncollectible as an increase (a debt) to bad debt expense and an increase ( a credit) to Allowance for Doubtful Accounts through an adjusting entry at the end of each period”.
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Accounts ACCTID 11110100000000 11110300000000 11110900000000 11111100100000 11111100105000 11111100110000 11111100115000 11111100120000 11111100125000 11111100130000 11111100140000 11111100145000 11111100150000 11111100175000 11111100180000 11111200105000 11111200110000 11111200115000 11111900110000 11111900120000 11111900130000 11111900140000 11111900150000 11111900160000 11111900170000 11112150100121 11112150100122 11112150210121 11112150320121 11112150410121 11112150410123
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of acid rain. Between 1995 and 1999‚ the Bowen plant will receive allowances to emit 254‚580 tons of sulfur dioxide per year. Starting in 2000‚ the Bowen plant will receive allowances to emit 122‚198 tons of sulfur dioxide per year. To comply with the law‚ the Bowen plant will either have to reduce its emissions of sulfur dioxide to below the amount for which it has been given an allowance or need to purchase additional allowances from other firms‚ which would permit it to release larger quantities
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