Work in process. Merchandise inventory. Raw materials. Rudolf Diesel Company’s inventory records show the following data: Units Unit Cost Inventory‚ January 1 5‚000 $9.00 Purchases: June 18 4‚500 8.00 November 8 3‚000 7.00 A physical inventory on December 31 shows 3‚000 units on hand. Under the FIFO method‚ the December 31 inventory is $21‚750. $21‚000. $27‚000. $24‚000. Rudolf Diesel Company’s inventory records show the following data: Units Unit Cost Inventory‚ January 1 5‚000 $9.00 Purchases: June
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—Conceptual 21.Which of the following is not considered cash for financial reporting purposes? a.Petty cash funds and change funds b.Money orders‚ certified checks‚ and personal checks c.Coin‚ currency‚ and available funds d.Postdated checks and I.O.U. ’s 22.Which of the following is considered cash? a.Certificates of deposit (CDs) b.Money market checking accounts c.Money market savings certificates d.Postdated checks 23.Travel advances should be reported as a.supplies. b.cash because
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Records and information management (RIM) is the field of management responsible for the efficient and systematic control of the creation‚ receipt‚ maintenance‚ use‚ and disposition of records‚ including processes for capturing and maintaining evidence of and information about business activities and transactions in the form of records. Records‚ therefore‚ have value and add to the intrinsic worth of the organization. Records need to be managed in a meaningful way so they can be accessed and used
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The formation of the debit and credit concept In this simplified form we can begin to see what the mathematician and Father of Accounting (Luca Pacioli) saw in 1494 when he codified the double-entry bookkeeping system. It is his codified system that outlined the rules for applying debits and credits when recording the financial transactions of a business in the double-entry bookkeeping system. Now remember that Luca’s book in 1494 was written and published in Latin and at a time when the concept
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The Adoption of Electronic Health Records. The implementation of electronic health records (EHR) in the healthcare industry has been an evolving concept throughout the healthcare ecosystem for some time. The term EHR is often used interchangeably with EPR (electronic patient record) and EMR (electronic medical record). Even though the terms are mostly used to describe the same thing‚ the differences between them can be defined. EMR is defined as the patient record created in hospitals and ambulatory
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YARMOUK UNIVERSITY FACULTY OF ECONOMICS AND ADMINISTRATION SCIENCES DEPARTMENT OF ACCOUNTING COURSE SYLLABUS FALL SEMESTER 2011/2012 COURSE: Title: ACC471— Accounting Information System Instructor:Dr. Iaad Sartawi Class Time: Section (1) – 8:00-9:00 Sunday‚ Tuesday‚ & Thursday. Section (2) – 10:00-11:00 Sunday‚ Tuesday‚ & Thursday. Section (3) – 8:00-9:30 Monday & Wednesday. Class Room: LAB 104A Office Hours: 11:00-12:00 Sunday‚ Tuesday‚ & Thursday. 9:30-10:30
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“Work-out day!” “Start running!” This was the daily routine that has been given to me every single year. So why should student athletes waste their time and energy to this over-rated class? Not only do students not take it seriously‚ the goals of gym class are fulfilled in the after-school sport‚ and gym interferes with the athlete’s training schedule. So‚ students playing a sport should not be required to attend a gym class during the sport’s season. First‚ gym class is taken as a joke. Teachers do not
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There is an issue going around and that is if school uniforms should be required in schools throughout the United States. I think that school uniform should not be in schools because it can be very unfair to the students that are attending the school. School uniforms is very unfair because then students feel like there is not really a way to express themselves. Students feel the need to express themselves in what they wear‚ but by making school uniforms a requirement the students will feel like
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Chapter 3-1 The Accounting Information System Chapter 3-2 Financial Accounting‚ Fifth Edition Study Objectives 1. Analyze the effect of business transactions on the basic accounting equation. 2. Explain what an account is and how it helps in the recording process. 3. Define debits and credits and explain how they are used to record business transactions transactions. 4. Identify the basic steps in the recording process. 5. Explain what a journal is and
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Chapter 8 Non-Current Liabilities Assessment Questions AS-1 ( 1 ) Name the typical forms of non-current debt. A typical and common form of non-current debt is a term loan from a bank. Another form of ______________________________________________________________________________ non-current debt is bonds. ______________________________________________________________________________ ______________________________________________________________________________ AS-2 ( 1 ) What is a bond
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