Magdalena Company purchased an equipment in exchange for a noninterest bearing note requiring eight payments of P 250‚000. The first payment was made on December 31‚ 2012‚ and the others are due annually on December 31. At the date of issuance‚ the prevailing rate of interest for this note is 13%. PV of an ordinary annuity of 1 at 13% for 8 periods 4.799 PV of an annuity of 1 in advance at 13% for 8 periods 5.423 What amount should be recorded as initial cost of equipment? a. P 1‚355‚750
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Chapter 2—The External Environment: Opportunities‚ Threats‚ Industry Competition‚ and Competitor Analysis TRUE/FALSE 1. The health-related concerns in the general environment facing Philip Morris International are part of the physical segment. ANS: F PTS: 1 DIF: Medium REF: 36 OBJ: 02-01 TYPE: comprehension NOT: AACSB: Ethical & Legal understanding | Management: Ethical Responsibilities | Dierdorff & Rubin: Managing the task environment 2. The external environment facing business stays relatively
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I. INTRODUCTION I. PROBLEM STATEMENT Dan Barnes‚ financial manager of Ski Equipment Inc. (SKI) is anxious that the Company’s founder recently sold his 51% controlling block of stock to Kent Koren‚ who is a big fan of EVA (Economic Value Added). Koren rewards managers handsomely if they create value‚ but those whose operations produce negative EVAs are soon looking for work. Koren frequently points out that if a company can generate its current level of sales with fewer assets‚ it would need
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"There’s too much wrangling and maneuvering going on – I just hate this office politicking". "Joe‚ well he’s a smart political mover – knows exactly how to get what he wants and how to get on." Whether you hate it‚ admire it‚ practice it or avoid it‚ office politics is a fact of life in any organization. And‚ like it or not‚ it’s something that you need to understand and master to be sure of your own success. "Office politics" are the strategies that people play to gain advantage‚ personally or
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The Office of the National Coordinator for Health Information Technology‚ abbreviated ONC‚ is a position within the US Department of Health & Human Services (HHS). The position was created by Executive Order in 2004 and written into legislation by the HITECH Act. The ONC’s purpose is to promote a national health Information Technology infrastructure and oversee its development. The ONC’s mission involves many aspects of health information technology (HIT)‚ including policy coordination‚ strategic
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Proposal Topic: Entertainment Variables: Independent is the investment in movie. Dependent is the box office. Question: How effectively the investment in movie effect movie’s box office? Not: All the data will be from the internet. Raw Data | |Title |Investment |Box Office | |1 |Avatar |$500 million |$2700millin
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Advancement of Accountancy Profession in Nigeria: A Collaborative Effort of Practicing Accountants and the Academia By Abubakar Salisu B. Sc‚ M.Sc‚ MBA‚ ACA‚ AMNIM Lecturer‚ Department of Accounting‚ Ahmadu Bello University‚ Zaria. ABSTRACT The Nigerian environment of accountancy profession has found it difficult to bring together accountants in the academics and in practice for the advancement of the profession. Whereas the accountants in practice are viewed as the real professional
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economic entity assumption states that economic events can be identified with a particular unit of accountability. FALSE 4. The monetary unit assumption states that transactions that can be measured in terms of money should be recorded in the accounting records. TRUE 5. The drawings account is a subdivision of the owner’s capital account and appears as an expense on the income statement. FALSE 6. Revenues are a subdivision of owner’s capital. TRUE 7. The trial balance has no
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Accountants Correspondence: Andy Wynne Technical Department ACCA 29 Lincoln’s Inn Fields London WC2A 3EE e-mail: a.wynne@accaglobal.com tel: +44 207 396 5778 Abstract • IFAC Public Sector Committee issued their standard on the cash basis of accounting and the ASB (UK) issued its draft interpretation for public benefit entities (not-for-profit organisations) earlier this year. In each case the private sector model of accounts was followed closely. • What is the experience in the UK of producing
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CHAPTER 1 Managerial Accounting ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1 A Problems B Problems Study Objectives *1. Explain the distinguishing features of managerial accounting. Identify the three broad functions of management. Define the three classes of manufacturing costs. Distinguish between product and period costs. Explain the difference between a merchandising and a manufacturing income statement. Indicate how cost of goods manufactured is determined. Explain the difference
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