SOLUTIONS TO PROBLEM SET A PROBLEM SET A 2.1 (b) Service Revenue $19‚000 Expenses: Salaries Expense $1‚200 Rent Expense 400 Advertising Expense 1‚300 2‚900 Profit $16‚100 OR Increase in Retained Earnings ($15‚700 - $0) $15‚700 Add: Dividends 400 Profit $16‚100 PROBLEM SET A 2.2 (a) Bell Consulting Pty Ltd Assets Liabilities Equity Date Cash + Accounts Receivable + Supplies + Office Equipment
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copy of the 3rd edition of The Future of Business by N. Althouse‚ S. Rose‚ L. Allan‚ L. J. Gitman‚ & C. McDaniel. Published by Thomson Nelson. The assigned text is the 4th edition of the book‚ which is available for purchase new from the University of Saskatchewan bookstore. However there are used copies of the 3rd edition of the book on sale around campus. Given that much of text in the two books is the same‚ it should be possible to use the 3rd edition instead of the 4th edition. If you do buy
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EXERCISE 14-1 (15-20 minutes) Valuation account relating to the long-term liability‚ bonds payable (sometimes referred to as an adjunct account). The 3‚000 would continue to be reported as long-term. Current liability if current assets are used to satisfy the debt. Current liability‚ 200‚000 long-term liability‚ 800‚000. Current liability. Probably noncurrent‚ although if operating cycle is greater than one year and current assets are used‚ this item would be classified as current. Current liability
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14 Accounting publications and research in twentieth-century Japan1 14.1 Introduction Japan’s interest in modern accounting began in the late nineteenth century with Alexander Shand [1844–1930].2 The Japanese translation of Shand’s (1873) Bank bookkeeping proved to be so important that his system of bank accounting became legally obligatory for the newly established banking system of the Meiji era. In the same year‚ Fukuzawa (1873–74) published a Japanese translation of Bryant and Stratton’s (1871)
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Managerial Accounting and the Business Environment Chapter 1 © 2010 The McGraw-Hill Companies‚ Inc. Learning Objective 1 Understand the role of management accountants in an organization. McGraw-‐Hill/Irwin Slide 2 Organizational Structure Decentralization is the delegation of decisionmaking authority throughout an organization. Corporate Organization Chart Board of Directors President Purchasing Personnel Vice President Operations Chief Financial Officer Controller
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Managerial Accounting and Control Decision Making: Relevant Costs and Benefits Case 14-62 Roy Kondoy Shella Faye Sportway Corporation • Sportway is a wholesale distributor supplying a wide range of moderately priced sports equipment to large chain stores • Products: 60% purchased‚ 40% manufactured • The company has a Plastics Department that is currently manufacturing molded fishing tackle boxes • Sportway is able to manufacture and sell 8‚000 tackle boxes annually‚ making full use of its direct-labor
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making across the various functional areas of an organization Managerial accounting: the form of accounting concerned with providing information to managers for use in planning and controlling operations and for decision making Financial accounting: the form of accounting concerned with providing information to shareholders‚ creditors‚ and others outside the organization The work of managers and their need for managerial accounting information Every organization has managers – someone must be
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Managerial accounting chapter 13 garison Question 13-11 Project A Initial Cost = $15‚000 Life of the project = 10 years Annual net cash inflow = $4‚000 Salvage Value = $0 Required rate of return = 16% Item Years Amount of cash flow 16% factor Present Value of Cash flow Annual net cash flow 1 to 10 $4‚000 4.833 $19‚332 Intial Investment Now $15‚000 1 $15‚000 Net Present Value (a-b) $4‚332 Project B Initial
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ACCOUNTING TOOLS FOR BUSINESS DECISION MAKING SIXTH EDITION MANAGERIAL This page intentionally left blank Jerry J. Weygandt PhD‚ CPA University of Wisconsin—Madison Madison‚ Wisconsin Paul D. Kimmel PhD‚ CPA University of Wisconsin—Milwaukee Milwaukee‚ Wisconsin John Wiley & Sons‚ Inc. Donald E. Kieso PhD‚ CPA Northern Illinois University DeKalb‚ Illinois Dedicated to the Wiley sales representatives who sell our books and service our adopters in a professional and ethical
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Managerial Accounting Chapter # 01 Homework 1 01) How does managerial accounting differ from financial accounting? A: Managerial accounting is concerned with providing information to managers for use inside the organization. Financial accounting is con¬cerned with providing information to stockhold¬ers‚ creditors‚ and others outside of the organi¬zation. 02) Pick any major television network and describe some planning and control activities that its managers would engage in. A: Five examples
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