profit organization do not enage in ownership-type transaction‚ such as issuing stock and paying dividend. Not for profit organization are most time of voluntary health and welfare‚ health care‚ college / universities‚ and other. Governmental Accounting standards board (GASB) setting body for state and local government. Organizational purposes – they generally try to accumulate a reasonable surplus of financial resources to cushion against economic contraction to provide for emergency needs. But
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E -11 DM 5 DL 4 VMO 3 FMO = 180‚000/50‚000 = 3.6 Total = 15.6 15.6 * 5‚000 (50‚000-45000) = 78‚000 E-12 DM 5 DL 4 VMO 3 Cost per unit = 12 $ EIV = 12 * 5000 = 60‚000 E-13 Difference 3.6 * 5000 = 18‚000 And 78‚000 – 60‚000 = 18‚000 E-14 CGS sold = 45000(sold) * 15.60 = 702‚000 E15 12 * 45000 = 540‚000 E16 Sales = 30 * 45‚000 = 1‚350‚000 CGS 702‚000 CM 648‚000 Less S & admin. 160‚000 Net income 488‚000 E17 Sales =
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ASSIGNMENT 4 WEEK 3 SAMUEL GEORGE Financial Accounting / CHAPTER 4 | | | | | P4-1A | Thomas Magnum began operations as a private investigator on =anuary 1‚ 2008. The trial balance columns of the worksheet for THOMAS =AGNUM‚ P.I.‚ INC. at March 31 are as follows. | THOMAS MAGNUM‚ P.I.‚ =NC. | Worksheet | For the Quarter Ended March 31‚ =008 | | Trial Balance | | | | Account Titles | Dr. | Cr. | Cash | 11‚400 | | Accounts Receivable | 5‚620 | |
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Wenqi Gu/ Shijia Wu/ Tongtong Yin/ Canran Xie) Given the background of ACC and AirThread‚ do you think the acquisition is a good idea? Briefly explain your answer. Yes. First‚ American Cable Communication (ACC) and AirThread could help each other compete in the industry that was moving more and more bundled service offerings. Second‚ the acquisition could help both companies expand into the business market. Third‚ ACC was in a unique position to add value to AirThread’s operations because the
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$114 and credit Office Supplies $114. Debit Office Supplies Expense $236 and credit Office Supplies $236. Debit Office Supplies $236 and credit Office Supplies Expense $236. Debit Office Supplies $114 and credit Supplies Expense $236. 4. On April 1‚ a company paid the $2‚052 premium on a three-year insurance policy with benefits beginning on that date. What will be the insurance expense on the annual income statement for the year ended December 31? (Round your answer to 1 decimal places
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In this file ACC 291 Week 4 Chapter 14 Practice Quiz 1 you can find right answers on the following questions: Comparisons of data within a company are an example of the following comparative basis: In horizontal analysis‚ each item is expressed as a percentage of the: In vertical analysis‚ the base amount for depreciation expense is generally: The data in the schedule is a display of vertical analysis because the individual asset items are expressed as a percentage of total assets
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conceptual framework of accounting‚ and list the components. 1‚ 2 1 3 3 2. Identify and apply the objective of financial reporting and the underlying assumptions used by accountants. 3‚ 4‚ 5 2‚ 3‚ 6 1‚ 2‚ 4‚ 5‚ 6 1‚ 2‚ 4‚ 5 1‚ 2‚ 4‚ 5 3. Describe the fundamental and enhancing qualitative characteristic of financial reporting. 6‚ 7‚ 8‚ 9‚ 10‚ 12 4‚ 6 2‚ 3‚ 4‚ 5 1‚ 2‚ 3 1‚ 2‚ 3 4. Identify and apply the constraints on financial reporting. 11‚ 12‚ 13‚ 14 5‚ 6‚ 7 5‚ 6 3‚ 4 3‚ 4 5. Identify and
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______ 1. Interest Expense 600 Interest Payable 600 ______ 2. Interest Payable 600 Cash 600 ______ 3. Interest Receivable 1‚400 Interest Earned 1‚400 ______ 4. Cash 1‚400 Interest Receivable 1‚400 ______ 5. Depreciation Expense 1‚600 Accumulated Depreciation 1‚600 ______
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Accounting 306 Exam 1 Notes Full Disclosure Principle – Calls for financial reporting of any financial facts significant enough to influence the judgment of an informed reader. Illustration 24-1: Financial Statements – Balance Sheet‚ Income Statement‚ Statement of Cash flows‚ and statement of changes in stockholders’ equity. Notes to financial statements – Accounting policies‚ contingencies‚ inventory methods‚ number of shares of stock outstanding‚ alternative measures. Supplementary Information
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ITM 550 MODULE FOUR CASE ASSIGNMENT 5 June 2011 Why do companies find it necessary to distinguish between network administration and systems administration? The first line of defense for almost every organization is typically the system administrator. This is the person that actively interacts with the company network on a daily basis‚ and by extension has intimate knowledge of it. So it stands to reason that this person would hopefully be the first to notice any signs of possible compromise
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