sold 2630 * Merchandise inventory 2630 Sales 3900 Cost of merchandise sold 2630 Gross profit 1270 Ending inventory 3250 B. * Jan 4 acc rec 3900 * Sales 3900 * Jan 4 cost of merchandise sold 2660 * Merchandise inventory 2660 Sales 3900 Cost of merchandise sold 2660 Gross profit 1240 Ending inventory 3220 Inventory system 1. Perpetua: record sales and cost of merchandise sold uses FIFO LIFO 2. Periodic: records sales only
Premium Inventory Balance sheet Generally Accepted Accounting Principles
21. General-purpose financial statements are the product of a. financial accounting. b. managerial accounting. c. both financial and managerial accounting. d. neither financial nor managerial accounting. 22. Users of financial reports include all of the following except a. creditors. b. government agencies. c. unions. d. All of these are users. 23. The financial statements most frequently provided include all of the following
Premium Financial Accounting Standards Board
Governmental Accounting Standards Board and Financial Accounting Standards Board Analysis Paper ACC/460 October 28‚ 2013 Governmental Accounting Standards Board and Financial Accounting Standards Board Analysis Paper The purpose of this paper is to review‚ compare‚ and show the contrast between the two accounting standard boards; Governmental Accounting Standards Board (GASB)‚ and the Financial Accounting Standards Board (FASB). The objectives of both Boards will be discussed as well as similarities
Premium Finance Financial Accounting Standards Board International Financial Reporting Standards
Introduction The parade of corporate accounting scandals of the last decade‚ with lion’s share occurring in 2002‚ has developed deep antipathy and distrust towards corporations and their reporting practices‚ and casted doubts on the opinions of audit firms. As majority of these accounting frauds occurred in the US (See Appendix)‚ there was a widely-held view that rules-based accounting standards have allowed failure of large corporations like Enron and World Com‚ since US GAAP is perceived to
Premium Accounting scandals Creative accounting
J.L. SOAP NOTE Subjective J.L. is a 63-year-old white female who presented to the ER with right lower extremity pain and swelling with subsequent changes to the skin‚ including formation of bullous ulcers. She had blistering over the past four days that started to enlarge. The doctor prescribed her Bactrim. Erythema‚ swelling‚ and pain progressively got worse. She denies any fever or chills. PMH: COPD‚ Hypertension‚ Diabetes mellitus‚ Osteoporosis‚ Fibromyalgia‚ Osteoarthritis‚ Morbid obesity
Premium Renal failure Liver function tests Nephrology
Introduction Guava is a tropical fruit‚ which is in very much like the shape of a pear‚ and has a yellow-green skin and white‚ yellow‚ or red/pink flesh. The guava tree belongs to the myrtle family Myrtaceae. The tree is natihve to Mexico‚ as well as Central America‚ Northern South America and parts of the Carribbean. They are now cultivated throughout the tropics. The fruit is known by many names in various countries. They are called Pera in Sri Lanka‚ Amrood in Hindi and Urdu. In Bengali
Premium
Fundamentals of Cost and Management Accounting Part Four: Allocation of Support Department Costs‚ Common Costs and Revenues Exercise No. 4 الاسم: الرقم الأكاديمي: رقم الشعبة: Choose the best answer for every question of the following questions: 1) Max’s Movie Store encounters revenue-allocation decisions with its bundled product sales. Here‚ two or more of the movie videos are sold as a single package. Managers
Premium Balance sheet Generally Accepted Accounting Principles Income statement
Introduction Schipper (2003) who is a member of FASB conducted a study on the rules-based and principles-based accounting standards. The aim of this article is to discuss the attributes and potential effects of transferring from rules-based standards to principles-based standards. To some extent this article is critical‚ but several limitations need to be discussed‚ such as implementation guidance. Summary Schipper (2003) demonstrated that there was a long-running debate on whether U.S. GAAP
Premium Management Learning German language
the Cost Savings when a company outsources? (Due Week 7) Background: In this case study‚ please choose from one of the areas in an organization that may be outsourced and prepare a cost savings report. Finance and Accounting Investment and Asset Management Human Resources Procurement Logistics Real estate management Miscellaneous (energy services‚ customer service‚ mailroom‚ food processing) Your Assignment: Prepare an executive summary document that focuses on the cost savings
Premium Outsourcing Sales Process management
Chic Soap Case Study 1) Who are your target audience? Working women from 25-45 years class A. 2) How are you intending to reach the target audience? I will try to reach the target audience by delivering customer value 1) Provide the Value: 1)Product development : the product must be developed on a high luxurios standard ans it is colaborating
Premium Marketing Distribution