Theory of Accounts 1. The fundamental qualitative characteristic of faithful representation has the components of a. Predictive value and confirmatory value b. Comparability‚ consistency‚ and confirmatory value c. Understandability‚ predictive value‚ and reliability d. Completeness‚ neutrality‚ and freedom from error 2. The amount reported as “Cash” on a company’s balance sheet normally should exclude a. Postdated checks that are payable to the company b. Cash in a payroll account c. Undelivered
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thank my teachers and my family members. I would like to thank most of all‚ God‚ whom I could not have finished this project without. Aims and Objectives The Aims and Objectives of this project include the following: To prepare all of the accounts and statements for the business “Pastry Delights” To provide the business with carefully thought out and reliable suggestions in order to make the business thrive To show the business how well or how badly they do for the two periods Description
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double-declining rate by the book value of the asset at the beginning of the period. Straight-line method - the same amount of depreciation is taken each accounting period. (Asset Cost – Salvage Value) / Useful Life = Depreciation Expense Units-of-Production – produces varying amounts of depreciation in different accounting periods depending upon the number of units produced. (Cost – Salvage Value) / Total Estimated Units of Production = Depreciation Charge per Units of Production
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The AT Corporation made some transactions of inventory during the month of September. Total number of units available for sale during the month is the sum of the units at opening inventory and units purchased during the month which is as under: During the month 4‚000 units and 4‚000 units have been purchased on 16th September and 25th September. The opening inventory of the month of September is 5‚000 units. Total number of units sold during the month is as under: During the month 2‚000 units
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technologically advanced online mega retailers. Retail stores such as BestBuy‚ Sears‚ and Blockbuster are on the verge of going out of the business due to customers’ increasing online purchases from Amazon‚ Overstock‚ and Buy.com. Click stores are able to gain competitive advantage over brick and mortar stores by maintaining low inventory‚ fewer employees‚ and by providing a personalized shopping experience. At one point‚ Sears dominated the full line retail market by providing its customers various mid
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In this essay I will be looking into how Shakespeare conveys evil in the scenes‚ conveys their guilt‚ how he creates suspense and shows the relationship between Macbeth and Lady Macbeth. I will also be describing how the characters progress in the scenes. Both Act 2‚ scene 2 and Act 5‚ scene 1 are important scenes in this Shakespeare play as it demonstrates how both of the main characters were at the beginning of the story and towards the end. Shakespeare conveys evil in the aforementioned scenes
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examples‚how the major accounting concepts are used in preparing financial statements. Answer : There are several accounting concepts that are used by the accountants worldwide in preparing financial statements.Using these principles one can prepare a fair and accurate financial statement for a period that would reflect the true condition of the business. Among all the accounting principles‚there are some very important fundamental concepts.Those major accounting concepts are :
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Four Accounting Principles Sharon Wallace American Intercontinental University Accounting Principles 2012 Four Accounting Principles ABSTRACT Accounting principles used by Wal-Mart and the core function of its departments. Wal-Mart’s strength and weaknesses will be listed. Wal-Mart’s last two years of accounting statements are also present. FOUR ACCOUNTING PRINCIPLES
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CHAPTER 1 Accounting in Action ASSIGNMENT CLASSIFICATION TABLE | | | | |Brief | | | |Study | |Questions | |Exercises | |Do It! | |Objectives | | | |
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a) Which accounting standards or Generally Accepted Accounting Principles (GAAP) are used in preparing the financial statements of the company (International‚ local or US GAAP standards)? Where did you find that information? For our accounting analysis we found the key accounting policies and related them to our identified key success factors. McDonald’s most important factors include consolidation‚ financial statement estimates‚ revenue recognition‚ advertising costs‚ compensation from stocks
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