Acct 496 CH5 Assignment Kangkang Guo Q1. What is a provision‚ and when must a provision be recognized? Provision provides guidance for reporting liabilities of uncertain timing‚ amount‚ or existence. A provision should be recognized when: 1). The entity has a present obligation (legal or constructive) as a result of a past event. 2). It is probable (more likely than not) that an outflow of resources embodying economic events will be required to settle the obligation. 3). A reliable estimate of
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Midterm Dear Mom‚ How are you? I know it has been a long time since I have written to you but I couldn’t write to you before. I am not sure if you were up-to-date or not but during a mundane drive through the Iraqi desert our convoy was ambuscaded. I managed to escape but my whole squad was slaughtered. Mom I wish I had just died with them. I cannot close my eyes without seeing our convoy in infernos or my best friend being scorched alive in the Humvee. I do not know how to carry on with life
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Chapter 1 Introducing Financial Accounting Learning Objectives – coverage by question | |Mini-exercises |Exercises |Problems |Cases | | |25 |29‚ 33 | |45‚ 46 | |LO1 – Identify the users of accounting information | | | |
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ANSWERS Quiz 1 profit margin on sales for 2013. Net income/net sales. receivables turnover ratio net sales/average A/R inventory turnover ratio for 2013. COGs/average inventory asset turnover ratio for 2013.Net sales/average total sales average collection period for 2013.365/receive turnover ratio. average days in inventory for 2013.365 / inventory turnover ratio decimal place. return on assets for 2013. Profit margin*assets turnover. return on stockholders’ equity for 2013. Net income/ average
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Lecture 6 Receivables 1. Types of receivables (1)Accounts receivable: the amounts owed to the firm by customers on account from the sale of goods or services (2)Notes receivable: the amounts owing to the firm outside normal trade for which formal instruments of credit are issued evidencing the debt‚ and on which interest is generally payable (3) Other receivables include non-trade receivables such as interest receivable‚ loans‚ advances and GST receivable. 2. Accounting for A/R Accounts receivables
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SHS 150 Midterm Study Guide Spring 2014 This is a tentative study guide to help you prepare for the midterm exam. It does not cover every topic that will be on the exam. It would be wise to review lecture slides‚ readings‚ lecture notes & quizzes to adequately prepare for the exam. Good luck‚ everyone! Definitions: Audiologist Sound wave Sound source Medium Intensity Frequency Wavelength Period Threshold Hearing loss/hearing impairment Concepts: Condensation vs. Rarefaction
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Midterm – John Doe Executive summary Diva shoes is an international shoes company that is experiencing rapid growth. Due to this rapid growth‚ the company never established a robust hedging strategy to protect itself against fluctuations of the multiple currencies it engages with. This situation became more severe in Japan. The company’s growth in Japan exceeded all expectations‚ and unlike other countries in which the company conducted business (Italy for example) the company had almost no expenses
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Executive Summary Problem Statement . Tweeter etc. Company was a specialty store famed for its excellent customer service and products quality of medium to highend products in New England. In order to remain its brand image and avoid price war‚ Tweeter applied “Every Day Fair Pricing” strategy‚ launched Automatic Price Protection and changed Market Mix. And then the market share of Tweeter increased from 2.8% to 3.6% from 1992 to 1996. In this period‚ only instituted with Price Protection
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Midterm Review Name: ______________________________ Date: ___________ Circle Period R1 R2 R3 S1 S2 S3 Chapter 1 – About Science Vocabulary: Define each term. Fact: Hypothesis: Law: Theory: Check Concepts: 1. Why is physics the most basic science? 2. Why is mathematics important to science? 3. Is a scientific fact something that is absolute and unchanging? Defend your answer. Chapter 2 – Mechanical Equilibrium Vocabulary: Define each term. Force: Net Force: Vector:
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RELS 2001 Midterm Study Guide Spring 2013 Date: 7/2 You are required to bring Blue Books for the exam. They are available at the Student Government Office (4th floor‚ University Center‚ right above the bookstore) for free. I will collect all your Blue Books and redistribute them before the exam. Also‚ you will be strictly required to leave all your cell phones and bags (along with all reading materials) in the front of the class. Any kind of academic dishonesty will not be tolerated
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