Adjusting Entries – Examples Let’s work with some examples. We are working with a one year accounting period that ends on 12/31/X2. Let’s use a three step process. Step 1 – Analyze the transaction. Step 2 – Record in the journal. Step 3 – Post to the ledger. Example 1: On 12/31/X2 (before the adjusting process)‚ Supplies‚ an asset‚ has a balance of $2‚500. Employees take a physical account of the supplies on hand. That physical count reveals that $1‚200 of supplies remains. Step 1 ‐‐ The balance
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Sallie Brown October 17‚ 2010 HIS108 Fall Bi-term Columbus Journal Introduction: On Friday the 3rd of August ____________________________________________________________ ___________________________________1492‚ Christopher Columbus created and made his 1st ____________________________________________________________ ________________journal entry as he set sail on his voyage. This journal was intended for the prince of the Indies. The prince gave him orders to keep track of the
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Checkpoint: Subsidiary Ledgers and Special Journals The advantages of using the four different special journals are you are able to post the total in the journal that it corresponds to one time at the end of the month. You are also able to have different people or departments handle the journal that pertains to them. By doing it this way‚ the accounting department will have better controls and there will be no conflicting responsibilities. The cash receipts journal is used when you have a debit to cash
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| Upgrading Your ELT | Upgrading from the 121.5 MHz Emergency Locator Transmitter (ELT) to the 406 MHz ELT | | | Alford Duncan | Embry Riddle Aeronautical University | The purpose of this document it to provide a brief history of ELTs‚ the satellite system that monitors ELT deployment‚ a summary of how the ELT works‚ and how it’s installed. I will also attempt to show the benefits of upgrading your existing 121.5 MHz Emergency Locator Transmitter to the newer and more efficient
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What are the major advantages of the use of books of prime entry? There are many major advantages of using prime entry for varying entries. The first advantage is that it helps to keep the records briefly as it is difficult to manage every single transaction in the main ledger as it occurs. Another advantage of using prime entry of accounting makes it easy to follow transactions and avoids the confusion occur if all of the different information was in one place. The separated information saves the
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Adjusting Entries Yvenie Desire ACCT205-1203A-11 June 9‚ 2012 Adjusting Entries Welcome to the company and as an accounting clerk for the department you will be working a lot with the accounting department and with me. I will be mentoring you on certain aspect of accounting and what needs to be done. First we’ll get started with why adjusting entries are necessary. “Adjusting entries ensures that the correct amount of revenues and expenses are recorded in a specified time period.” (Editorial
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March 3‚ 2012 Dear Diary‚ I’m so upset!! I don’t even know where to begin! To start off‚ I think I completely failed my geometry quiz‚ which I know I should’ve studied more for...my dad’s not gonna be happy about that. :( Then‚ we had a pop quiz in history on the reading homework from last night‚ and I completely forgot most of what I read‚ which made me even more upset because I actually did the reading! But what really made me mad was the note that Sarah slipped into my locker during
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Communicating Consumer Behavior - An Exercise Using Personal Consumption Journals In consumer behavior‚ it is vital that upon completion of the course students have acquired a sound understanding of how consumers search for‚ purchase‚ and use products and services. Furthermore‚ students should also be exposed to the social and psychological influences on these behaviors. Finally‚ to have garnered the most benefit‚ students should understand how to integrate the theoretical concepts into their real
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Implementation Life cycle The ERP implementation life cycle consist of; Pre evaluation Screening Package evaluation Project planning phase Gap Analysis Reengineering Configuration Implementation team Training Testing Going Live End-User Training Post Implementation Pre-evaluation Screenings In order to develop a new ERP package the available packages should be evaluated before coming to the solution But this pre evaluation should be done with a chosen number of packages since
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Reflective Journal Detailed description as if to an outsider. Often you will use your journal to record detailed descriptions of some aspect of your internship environment‚ whether physical‚ behavioral‚ or organizational. When you write them‚ you will not have a clear idea of what you will make of these details‚ but you will sense that they might be important later. These descriptions should sound as if you were describing them to someone who was never there. Journals allow you to sound naïve
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