Composition of an Adjusting Entry Adjusting entries affect at least one nominal account and one real account. A nominal account is an account whose balance is measured from period to period. Nominal accounts include all accounts in the Income Statement‚ plus owner’s withdrawal. Therefore‚ they are also called temporary accounts and income statement accounts. Examples are Service Revenue‚ Salaries Expense‚ Rent
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Share Driven Pricing - Some Companies are driven to get the most market share. But your goal shouldn’t be market share but maximizing contribution margin. Value Creation – Economic Value‚ Offering Design‚ Segmentation. Product manager face challenge as they are expected to set prices that capture the value offered by their products that also maximize price. Typically turns to marketing‚ where research is completed. Example research shows 10% higher customer response‚ but doesn’t gaurntee
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ACC 307: Cost Accounting Winter 2013 Practice Problems Chapter 8 Problem 1: Different management levels in Bates‚ Inc.‚ require varying degrees of managerial accounting information. Because of the need to comply with the managers’ requests‚ four different variances for manufacturing overhead are computed each month. The information for the September overhead expenditures is as follows: Budgeted output units 3‚200 units Budgeted fixed manufacturing overhead $20‚000 Budgeted
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Running Head: Current and Noncurrent Assets Paper Current and Noncurrent Assets Paper <Name> ACC/400 – Week One Instructor’s Name: <Name> <Date> Introduction Current and non-current assets are important items to evaluate a balance sheet. The following paper evaluates the meaning and differences between current and non-current assets. In addition to that‚ the paper will describe the order of liquidity and its application in a balance sheet. A company’s balance sheet includes
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What is GSP? The principle of GSP was agreed at the United Nations Conference on Trade and Development (UNCTAD)‚ and is a facility granted to developing countries ("beneficiary countries") by certain developed countries ("donor countries"). It is not negotiated with them: the preferential treatment is non-reciprocal. The GSP schemes offered by the various donor countries and their rules of origin differ fundamentally. Goods complying with the conditions of the GSP of the USA ‚ for example‚ will
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Direct and Indirect Cash Flow Cassandra Stewart ACC 291 June 18‚ 2014 Susan Schulz / Direct and Indirect Cash Flow Differences between direct and indirect cash flow are just what they seem. Direct statement of cash flow identifies a company’s sources and uses of cash. This cash flow has three sections that include operating‚ investing‚ and financing activities. Operating activities includes receipts and payments from normal business operations. Investing activities include the purchase
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ACC 3010 Project 2 Fall 2013 DUE Friday November 1‚ 2013– This project is due on November 1st before 4:00 pm and is to be submitted in the Accounting Lab – room 200 in the Rands House. The hours for submission of and help with the project will be posted on the class Blackboard site. You will sign your project in to create a record of its being submitted. Be sure your name and the name of your TA are on the front page of the project. This project is a continuation of Project 1‚ FRM Consulting
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CHAPTER 1: EXERCISE 1-5 Asset Cash Equipment Supplies Accounts receivable Liability Accounts payable Notes payable Salaries and wages payable Stockholders’ Equity Common stock EXERCISE 1-6 1. 2. 3. 4. 5. 6. 7. 8. 9. Increase in assets and increase in stockholders’ equity. Decrease in assets and decrease in stockholders’ equity. Increase in assets and increase in liabilities. Increase in assets and increase in stockholders’ equity. Decrease in assets and decrease in stockholders’
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Ethics ACC/291 August 4‚ 2012 Ethics The Sarbanes-Oxley Act of 2002 was approved in order to keep corporations form scamming the government. The law was a consequence of many corporate scams. This law was to protect the investors and give them the correct information and to make the corporations reveal all information which may impact an investor’s judgment of the corporation. This act/law will make corporations complete an internal audit from time to time as to keep all the information correct
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E13-1 Pioneer Corporation had these transactions during 2011. (a) Issued $50‚000 par value common stock for cash. (b) Purchased a machine for $30‚000‚ giving a long-term note in exchange. (c) Issued $200‚000 par value common stock upon conversion of bonds having a face value of $200‚000. (d) Declared and paid a cash dividend of $18‚000. (e) Sold a long-term investment with a cost of $15‚000 for $15‚000 cash. (f) Collected $16‚000 of accounts receivable. (g) Paid $18‚000 on accounts payable
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