Apollo Accounting and Control Systems: Purchasing and Expenditure Cycle The employee prepares a purchase requisition and has a supervisor approve it. The supervisor retains Copy 2 of the pre-numbered purchase requisition for the department‚ sends Copy 1 to the Purchasing Department and Copy 3 to Accounts Payable. When the Purchase Department receives the purchase requisition‚ they search the approved vendor list and consult the listed prices for the goods desired for each vendor. Once a vendor
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1 What is an Asset? An asset is an item that a company owns. Assets are divided into three basic groups: capital assets‚ current assets and intangible assets. Capital assets are typically owned for the long term and include buildings‚ land‚ vehicles and manufacturing equipment. Current assets are items that can quickly be converted to cash‚ such as actual cash‚ accounts receivable‚ inventory and investments such as bonds and stocks. Intangible assets are items that cannot be physically touched‚
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(FFL) produces a line of lawn fertilizers that are manufactured under controlled conditions to ensure the ingredients are stored carefully and mixed in the correct quantities. FFL has many competitors in the industry ranging from small private companies to large public companies. Recent news articles in the fertilizer industry have highlighted the need for a focus in environmental concerns. The CEO has decided that FFL should consider the implementation of an environmental scorecard. Which of the following
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|MBA 502A--Financial Accounting: Accounting Cycle Project (KidKare‚ Inc. 2011) | | |General Journal | | |G15 | |Date |Account Titles & Explanations |Ref |Debit |Credit | |Dec30 |Childcare Exp.
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one) Questions: 1.Under accrual basis accounting‚ revenues are recognized when earned and expenses are recognized when incurred. TrueFalse(circle one) If false‚ explain below or correct above: 2.Expenses are decreases in assets or increases in liabilities incurred in order to generate revenues. TrueFalse(circle one) If false‚ explain below or correct above: 3.Deferred expenses are initially recorded as assets and when they are later used‚ expenses will increase and assets will decrease.
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will have to pay 3-4% more over inflation due to available subsidized loans and increased aid (McArdle). This means that because of the massive amounts of people receiving some form of aid‚ colleges are raising the costs to compensate charging more from the students who “can afford college.” As if anyone not in the upper 10% can attend some of these universities without struggle. Is the education they’re receiving 3-4% better‚ or what else could contribute to the higher costs of attending college
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Document templates Submission details Candidate’s name Phone No. Assessor’s name Phone No. Assessment site Assessment date/s Time/s The Assessment Task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor. Submit this document with any required evidence attached. See specifications below for details. Performance objective Candidates must demonstrate the ability to identify documents used by an organisation and develop
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UNIVERSITY | Rising Medical Expenses | Are “Sin Taxes” the answer? | ENG122: English Composition IIInstructor: Laura Crittenden | Cory Pelisek | 6/23/2013 | When I think of taxes‚ it reminds me of a quote from one of our greatest presidents in United States history‚ Calvin Coolidge‚ he stated that “Collecting more taxes than is absolutely necessary is legalized robbery.” Raising taxes from one individual to pay for another individual is taking away from our Fifth Amendment right‚ “nor
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A variety of depreciation methods are used to allocate the cost of an asset to all of the accounting periods benefited by the use of the asset. Your client has just purchased a piece of equipment for $100‚000. Explain the concept of depreciation. Which of the following depreciation methods would you recommend: straight-line depreciation‚ double declining balance method‚ or an alternative method? This concept is to "observe the service life of the equipment with a professional judgment and
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1.1.1 Health Expense Coverage Health expense coverage can be included by basic health insurance‚ major medical insurance‚ and miscellaneous coverage. Basic health insurance has less cost-sharing provisions and it can be known as three parts: hospital insurance‚ surgical insurance‚ and regular medical expense insurance. 1) Hospital insurance is one of health insurance plan that offering restriction coverage for hospital confinement due to illness‚ accidents‚ and intensive care of convalescence.
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