ACCT 101 PRACTICE QUESTIONS by Adekoya Ayodele OBJECTIVE The objective of this project is to enable student to record transactions into the accounting cycle. The second objective is to enable them record adjustments and post them to the General Ledger The third Objective is to enable them prepare accurate Income Statements and Balance Sheets. INSTRUCTIONS: Each group is required to 1. Journalize the transactions 2. Post the transactions from journal to ledgers. 3. Prepare
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Explain the difference between capital and revenue items of expenditure and income P2 Capital Income Capital income is the money invested by owners or investors that fund the setting up of a business. The source of capital income is influenced by the type of business. Sole trader is a business which is owned individually‚ meaning their capital income comes from their own money (savings) or personal loans. Partnership is when between two and twenty people join to form a business as partners.
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P2: Describe the different stakeholders who influence the purpose of two contrasting businesses. What are stake-holders? Stake-holders are any individuals‚ organizations and companies’s interested in the business section and are affected by the business activities. Internal stake-holders are groups within the business; On the other hand‚ External stake-holders are those outside the business‚ for example‚ the community. Internal stake-holders consist of: Owners: Interested in making profit and
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chapter 1 (man) MANAGERIAL ACCOUNTING CONCEPTS AND PRINCIPLES discussion questions 1. Financial accounting and managerial accounting are different in several ways. Financial accounting information is reported in statements that are useful to persons or groups outside of a company. These statements objectively report the results of past operations at fixed periods and the financial condition of the business under generally accepted accounting principles. Managerial accounting information
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[pic] |Course Syllabus School of Business ACC/290 Version 3 Principles of Account I Course Start Date: : 05/20/2013 Course End Date: 06/24/2013 Group Number: GA12BSB12 | |Copyright © 2011by University of Phoenix. All rights reserved. Facilitator Information hours. I am available to answer questions between class meetings by phone‚ OLS postings or email. Also‚ I will be in class approximately
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English 1A Learning Reflections I now feel‚ after being a student of this class‚ being successful in business or school requires the ability to organize‚ arrange‚ and compose thoughts into a logical format. Without these skills it is impossible to communicate thoughts and emotions grammatically. Reflecting on the past three months‚ I notice that our English 1A class has learned skills necessary to develop personal‚ informative‚ and persuasive essays. These are essential points needed to become
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Kevin S Dozier Strayer University Prof. Juanita Edwards ACC 557 Financial Accounting 11 Mar 2013 Introduction to Coca-Cola Coca-Cola Company is an American multinational beverage corporation headquartered in Atlanta Georgia. It is best known for its flagship product Coca-cola. The company offers more than 500 brands in over 200 countries and serves over 1.7 billion servings per day. The company’s stock is listed on the NYSE and it is a part DJIA‚ S&P index and the Russell 1000 index. The
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Robert Strayer explores the main pillars of the Islamic religion that he refers to as the Voices of Islam. These are the voices of; Allah‚ Prophet Muhammad‚ the law and Sufis. Strayer expresses that these four voices are the ones that have characterized the Islamic religion throughout the years. The voices differ in a lot of aspects and one common observation among the Muslims is that they tend towards one voice that they view as more favorable and reject the ones that deem unfavorable (Strayer 2010)
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Stakeholders. P2. My two companies are Hackney Community College & Tesco. Stakeholders are a person with an interest or concern in something for example a business. Customers A person or organisation that buys goods or services from a store or business. Hackney Community College example: Students come to the college for a service which is education. Tesco example: Public people‚ bars‚ convenience store and cash & carry these are all customers that sell food. Employees A person who exchanges
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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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