CASE STUDY 1 -THE COMPLETE ACCOUNTING CYCLE The Entire Case Study is due Sunday at Midnight Mountain time at the end of Week 3. This Case Study is worth 100 points or 10% of your final course grade. This Case Study relates to TCO’s D and E and Chapters 3 and 4. MAKE SURE TO COMPLETE ALL REQUIREMENTS WHICH ARE LISTED BELOW. There are 10 Sheets in the Workbook including this one. All of the Information you need for the Project is located in this Workbook. Requirements Requirement 1 - Prepare
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Instructions for the Microsoft Excel Templates by Rex A Schildhouse | | Be advised‚ the template workbooks and worksheets are not protected. Overtyping any data may remove it. | | | Extensive detail and information is contained within the help function of Microsoft Excel and in the provided text. | | You should enter your name‚ date‚ instructor’s name‚ and course into the cells at the top of the page. This information will be printed on the top of each page if the template requires
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amount. (3) Direct write-‐off method use 2 accounts for recording A/R and Bed debts ! A/R: total amount owing to the business by its customers ! BD expenses: total amount of debts written off during the period because they are not collectible.
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revenues of $600‚000‚ expenses of $380‚000‚ and paid dividends of $140‚000. What was Pinson’s retained earnings at the end of the year? a. $910‚000 b. $630‚000 c. $1‚010‚000 d. $480‚000 3. Patent would appear in which balance sheet section? a. Intangible assets b. Investments c. Property‚ plant‚ and equipment d. Current assets 4. A balance sheet shows a. revenues‚ liabilities‚ and stockholders’ equity. b. expenses‚ dividends‚ and stockholders’
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usually recorded in an asset account rather than in an expense account. If supplies were expensed when purchased‚ which accounts should be debited and which credited at the end of the period in order to reflect the amount of supplies on hand? Exercise 4.1 – Identifying adjusting journal entries Required: Match the end-of-financial-year adjustments (for each independent situation) to the appropriate journal entry. Adjustments 1. Insurance expense which has not been used up (there is still future
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the Future Giberson’s Glass Studio Income Statement For the Year Ending August 31‚ 2007 Revenues: Sales $ 31‚080 Total Revenue $31‚080 Expenses: Materials $ 857 Gas 9‚200 Operating Expenses 10‚210 Depreciation 4‚625 Interest 460 Total Expenses 25‚352 Net Income 5‚728 Executive Summary This report is to provide an evaluation of the current financial position and prospective profitability
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Chapter 2 HOMEWORK ASSIGNMENTS #1. Billy’s Exterminators‚ Inc.‚ has sales of $643‚000‚ costs of $280‚000‚ depreciation expense of $32‚000‚ interest expense of $26‚000‚ and a tax rate of 35 percent. What is the net income for this firm? | | PROVIDE SOLUTION HERE: The income statement for the company is: | Income Statement | Sales | $643‚000 | | Costs | $280‚000 | | Depreciation | $32‚000 | | | | | EBIT | $331‚000 | | Interest | $26‚000 | | | | | EBT | $305
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accounts receivable (asset)‚ and Service revenue (equity) increase here There is no cash involved in this transaction accrual accounting recognizes revenue when earned and expenses when incurred in earning that revenue (irrespective of when cash is received or paid) adjustments are usually involve prepayments or accruals. If expense is recognized when cash is paid‚ there is no need to adjust as there is no prepayment or accrual involved. This involves reducing the liability ‘subscriptions received in
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UCD Michael Smurfit School of Business Executive MBA Financial Reporting Course Book 2012-13 ACC40380 Financial Reporting (Midweek Blackrock) ACC40390 Financial Reporting (Weekend Blackrock) ACC40400 Financial Reporting (City) Course Outline Aims of course In the current economic climate as the credibility and reliability of financial reporting comes under sustained scrutiny an appreciation and understanding
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Name: Take home exam 1 Due by September 21st 11:59 pm CT Worth total 30 pts.: 15 True/False and 3 problems Please submit this one Word file template with your name typed on your document and your file saved with your initial of your first name and last name with Take home exam 1. Please upload to the Take home 1 assignment link. The purpose of this take home exam is to give you the opportunity to practice your accounting skills before taking the proctored exam 1. This take home exam covers
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