relatively easy to obtain injunctions from the court order since IT crimes are new and only occur in cyberspace. Therefore‚ victims are hindered by the lack of legislation in place currently to obtain their legal rights. This change would help victims to approach their legal rights and prevent cybercriminals to take advantage of legal systems. This change may impose more taxable income and hurt tax payer’s benefits. Tax payers and business owners who benefit from current US law may oppose this change
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slight increase in accounts receivable reflecting the timing of seasonal sales at the end of 2011 as compared with 2010. Although its primary credit risk concentrates on two clients‚ McLane and Wal-Mart‚ its accounts receivable turnover is increasing. It means Hershey’s collection ability is good. Accounts Receivable—Trade In the normal course of business‚ we extend credit to customers that satisfy pre-defined credit criteria based upon the results of our recurring financial account reviews and our
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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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and its fiscal year runs from January 1 to December 31. Its first year of operations was 2011. The Company has one owner‚ Lerriuqs‚ and financial statements and adjustments are prepared only at the end of the year. The accountant has resigned and Lerriuqs has hired you to help with the business’s December transactions and preparation of Financial Statements. The following is the company’s unadjusted trial balance as at December 1‚ 2013. AWREE NATCACNOTUS INC TRIAL BALANCE DECEMBER 1‚ 2013
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SECTION A Answer any FOUR questions from this section. Each question carries 10 marks. 1. For each of the independent situations described below‚ list the accounting principle or concept that has been violated and give your explanation. (10 marks) i. Raymond Company has been adopting different methods to calculate depreciation on its motor vehicles for the past 4 years. ii. In estimating the provision for doubtful debts‚ the accountant of Peter Limited prefers to have a provision
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Internal Revenue Service | | | b. U.S. Congress | | | c. Governmental Accounting Standards Board | | | d. Financial Accounting Standards Board | | Correct Marks for this submission: 5/5. Question 5 Marks: 5 The left side of a T-account is known as the: Choose one answer. | a. Debit Side | | | b. Credit side | | | c. Claims side | | | d. Equity side | | Correct Marks for this submission: 5/5. 1 Marks: 5 Product costs are matched against sales revenue
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husband. On my first assessment‚ she was throwing up‚ looked pale and dry. I gave her emesis bowl and put her in side lying position‚ to prevent aspiration. Since the patient was drowsy and tired‚ I asked the patient if it was ok to inquire her history from her husband‚ she nodded and said yes. So‚ as I took the history‚ I found that the patient was diagnosed with advanced stage of cancer and had her last chemotherapy few weeks back
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and forwards a copy of the list to the accounts receivable clerk for recording in the accounts. I think that this could be weak because what I think should happen is that the mail clerk should make the list of the receipts and send it to the manger or supervisor where then it is sent to the account receivable clerk for recording. I think by the mail clerk to just send it to the cashier could leave room for errors or fraud. I think that if the mail clerk writes the list and sends a copy even if
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0.74:1 | 1520.2/1890.5 = 0.80:1 | Quick Ratio | (1641.7-685.3)/2210.2 = 0.43:1 | (1520.2-613.2)/1890.5 = 0.48:1 | Inventory Days | (685.3/6015.6) x 365 = 42 days | (613.2/5918.8) x 365 = 38 days | Trade Receivable Days | (276.1/9740.3) x 365 = 10 days | (287.7/9536.6) x 365 = 11 days | Trade Payable Days | (262.3/6015.6) x 365 = 16 days | (280.3/5918.1) x 365 = 17 days | SolvencyGearing | 2210.2/2677.4 = 0.83% | 1890.5/2185.9 = 0.86% | Interest Cover | 836.9/98.6 = 8.5 times | 852/162
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What is ECBCB? Source of funds for corporates from abroad with advantage of lower rates of interest prevailing in the international financial markets longer maturity period for financing expansion of existing capacity as well as for fresh investment Defined as to include commercial loans [in the form of bank loans‚ buyers’ credit‚ suppliers’ credit‚ securitised instruments (e.g. floating rate notes and fixed rate bonds‚ CP)] availed from non-resident lenders with minimum average maturity
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