SOLUTIONS TO EXERCISES EXERCISE 4-1 BRISCOE COMPANY Worksheet For the Month Ended June 30‚ 2008 Account Titles Trial Balance Adjustments Adj. Trial Balance Income Statement Balance Sheet Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Cash 2‚320 2‚320 2‚320 Accounts Receivable 2‚440 2‚440 2‚440 Supplies 1‚880 1‚580 300 300 Accounts Payable 1‚120 1‚120 1‚120 Unearned Revenue 240 140 100 100 Common Stock 3‚600 3‚600 3‚600 Service Revenue 2‚400 140 2‚540 2‚540 Salaries Expense 560 280 840 840
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of the times‚ people find it difficult to understand the various accounting Concepts. In this coursework‚ I shall analyze these concepts and explain them. First of all I shall discuss the materiality concept. WHAT IS MATERIALITY? Authoritative accounting bodies in the USA such as Financial Accounting Standard Board (FASB)‚ Securities and Exchange Commission (SEC)‚ General Accounting Office (GAO)‚ American Institute of Certified Public Accountants
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Accounting Basics: Introduction Accounting is a glorious but misunderstood field. The popular view is that it’s mostly mind-numbing number-crunching; it certainly has some of that‚ but it’s also a rich intellectual pursuit with an abundance of compelling and controversial issues. Accountants are often stereotyped as soulless drones laboring listlessly in the bowels of corporate bureaucracies. But many accountants will tell you that it’s people skills‚ not technical knowledge‚ that are crucial to
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Year Round Schooling Chyler Chisholm Year Round Schooling Mr. Reynolds 4-1-16 How would you feel if you were having a fun time with your family on a nice day in the middle of August‚ but then you realize you have to go to school tomorrow. Also imagine sitting in a class in the middle of summer baking like a batch of potatoes. If you went to a year round school that could be you. Year round schools would be a great idea if you didn’t know anything about them. I am against year round schools
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B) A debit to an asset. C) A credit to a liability. D) A credit to an asset. Answer: A _____ 6. Bland Foods purchased a two-year fire and extended coverage insurance policy on August 1‚ 2003‚ and charged the $4‚200 premium to Insurance expense. At its December 31‚ 2003‚ year-end‚ Bland Foods would record which of the following adjusting entries? A) Insurance expense 875
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the launching last year of K + 12—a bold program meant to align the Philippines with the global 12-year basic education cycle—are not going away soon‚ along with the usual problems encountered at the beginning of each school year. A quarter of the Philippines’ nearly 100 million population are students—some 21 million of them enrolled in more than 46‚000 public schools and the rest in private facilities‚ according to statistics from the Department of Education (DepEd) for the school year 2011-12. (Figures
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So many new technologies have appeared in the past half century that it’s impossible to list them all. But these 10 high-tech breakthroughs stand out over the last 50 years because they’ve revolutionized the way Americans live. We look back at their beginnings‚ as well as where they’ve taken us today. 10. Organ transplants. In 1954‚ Dr Joseph Murray removed the kidney from one human patient and implanted it in another. The recipient accepted the kidney as its own rather than rejecting it as a
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The Principles of Islamic Accounting Definition and discussion of some accounting principles and how they are fit into Islamic framework to furnish an accounting system and procedures for Islamic Financial institutions will be considered here. The plan to study accounting principles From an Islamic perspective is to review these principles from the viewpoint of the Major Islamic principles which govern financial dealings and contracts‚ as mentioned In the Qur ’an. These are: 1- Realization
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you master the principles any examination question on the topic will be easily understood. This short paper will I am sure be of interest not only to our student audience but as a refresher to those of you in practice that may be required to deal with this concept. In most businesses debtor balances represent an important element of working capital. Accounting principles dictate that the supply of goods or services is accounted for as sales‚ at the point at which the buyer has a legal obligation
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To what extent has society been influenced by the increased availability of information due to technological innovation and globalization? Currently‚ a widespread phenomenon has been perceived all over the world that the increased availability of information deeply influenced society because of the innovatory technology and globalization. This essay intends to identity the root of this increasing problem as well as some far-reaching effects. With the help of advanced technology‚ people`s
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