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MuhammadYousaf
 MuhammadYousaf
posted
Jun 27 2014 
library
(TCO 2) As required to complete Course Project 1, one must follow the cycle that includes 10 steps to complete the accounting cycle. (1) Explain how information from the journal entries get into the
(TCO 2) As required to complete Course Project 1, one must follow the cycle that includes 10 steps to complete the accounting cycle. (1) Explain how information from the journal entries get into the ledger accounts (15 points) and (2) provide an example of information that would be transferred. (10 points) (Points : 25)
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Cash XX Sales Revenue XX After passing journal entry it will be transferred to the sales ledger and cash ledger in following manner:- Sales revenue XX Cash XX After transferring these items to ledger they will be transferred to trial balance in following manner: Tri...(3344 more words & 0 attachments).
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MuhammadYousaf
 MuhammadYousaf
posted
Jun 27 2014 
library
(TCO 3) At the end of the period it is necessary to close all temporary accounts. (1) Explain why this process is required (15 points) and (2) provide an example of the closing of an expense account,
(TCO 3) At the end of the period it is necessary to close all temporary accounts. (1) Explain why this process is required (15 points) and (2) provide an example of the closing of an expense account, Supplies Expense in the form of a journal entry. (10 points) (Points : 25)
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t .Here ...(2 more words & 1 attachments).
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 SSS.docx (34KB)  
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MuhammadYousaf
 MuhammadYousaf
posted
Jun 27 2014 
library
(TCO 5) Internal Control Procedures are in place to protect the assets of every business as mentioned in the textbook and our discussions. Of the seven internal control procedures, list five of thes
(TCO 5) Internal Control Procedures are in place to protect the assets of every business as mentioned in the textbook and our discussions.  Of the seven internal control procedures, list five of these controls and describe how each procedure is implemented. (5 points each with 2 points for listing and 3 points for a description) (Points : 25)
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departments so as to increase the accuracy of accounting records and reduce the chances of fraud. In case of inventory, the accountant should maintain the inventory records and the person involved in sales should not keep the inventory records. This will reduce the chances of theft by the sales people. Documents and Records: Documents and records involve the journal entries, general ledgers, invoices, purchase orders etc...(1508 more words & 0 attachments).
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MuhammadYousaf
 MuhammadYousaf
posted
Jun 27 2014 
library
Below are the accounts of Super Pool Service, Inc. The accounts have normal balances on June 30, 2012. The accounts are listed in no particular order. Account Balance Common stock $5,100 Accounts pa
Below are the accounts of Super Pool Service, Inc. The accounts have normal balances on June 30, 2012. The accounts are listed in no particular order. Account Balance Common stock $5,100 Accounts payable $4,400 Service revenue $17,100 Land $28,800 Note payable $9,500 Cash $5,200 Dividends $6,100 Utilities expense $2,100 Accounts receivable $10,600 Delivery expense $700 Retained earnings $25,600 Salary expense $8,200 Prepare the company’s trial balance as of June 30, 2012, listing accounts in proper sequence, as illustrated in the chapter. For example, Accounts Receivable comes before Land. List the expense with the largest balance first, the expense with the next largest balance second, and so on.
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Here i...(2 more words & 1 attachments).
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 Question_no._3_Solved.xlsx (9KB)  
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MuhammadYousaf
 MuhammadYousaf
posted
Jun 27 2014 
library
Linda’s Lampshades started business on Jan. 1, 2001. They had the following inventory transactions: Journals - Jan. 2001 Purchases Supplier Date Received Quantity Unit Cost Amount Donna 01/10/01
Linda’s Lampshades started business on Jan. 1, 2001. They had the following inventory transactions: Journals - Jan. 2001 Purchases Supplier Date Received Quantity Unit Cost Amount Donna 01/10/01 110 12.00 1320.00 Thomas 01/15/01 160 14.00 2240.00 Cindy 01/18/01 150 15.00 2250.00 Sales Customer Date shipped Quantity Sel. Price Amount Norilene 01/16/01 200 25.00 5000.00 1. Calculate the ending inventory, using the perpetual inventory method: A. Using FIFO B. Using LIFO C. Using Average Cost 2. Prepare the following statement Using FIFO LIFO Average Cost Sales Cost of Sales Gross Profit
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wnload...(2 more words & 1 attachments).
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 Question_no._5_Solution_now.xlsx (11KB)  
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MuhammadYousaf
 MuhammadYousaf
posted
Jun 27 2014 
library
ABC Inc. was incorporated on 1/15/12. Their corporate charter authorized the following capital stock: Preferred Stock: 7%, par value $100 per share, 100,000 shares. Common Stock: $1 par value, 500,00
ABC Inc. was incorporated on 1/15/12. Their corporate charter authorized the following capital stock: Preferred Stock: 7%, par value $100 per share, 100,000 shares. Common Stock: $1 par value, 500,000 shares. The following transactions occurred during the year: 1/19/12 – Issued 100,000 shares of common stock for $17 cash per share. 1/31/12 – Issued 3,000 shares of preferred stock for $115 cash per share. 11/1/12 – Repurchased 30,000 shares of common stock for $22 cash per share. 12/1/12 – Declared and paid a total dividend of $95,000. Required: 1. Prepare the journal entry for each transaction listed above. 2. In your own words, explain the main differences between common and preferred stock.
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file ...(2 more words & 1 attachments).
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 Question_no._2_Solution.xlsx (9KB)  
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MuhammadYousaf
 MuhammadYousaf
posted
Jun 27 2014 
library
BagODonuts Company bought a used delivery truck on January 1, 2010, for $19,200. The van was expected to remain in service 4 years (30,000 miles). BagODonuts’ accountant estimated that the truck’s re
BagODonuts Company bought a used delivery truck on January 1, 2010, for $19,200. The van was expected to remain in service 4 years (30,000 miles). BagODonuts’ accountant estimated that the truck’s residual value would be $2,400 at the end of its useful life. The truck traveled 8,000 miles the first year, 8,500 miles the second year, 5,500 miles the third year, and 8,000 miles in the fourth year. 1. Calculate depreciation expense for the truck for each year (2010-2013) using the: a. Straight-line method. b. Double-declining balance method. c. Units of Production method. (For units-of-production and double-declining balance, round to the nearest two decimals after each step of the calculation.) 2. Which method best tracks the wear and tear on the van? 3. Which method would BagODonuts prefer to use for income tax purposes? Explain in detail why BagODonuts prefers this method.
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ing purpose...(3 more words & 1 attachments).
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 Question_No._1_ASAP_(review).xlsx (9KB)  
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mastermind
 mastermind
posted
Jun 26 2014 
library

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inor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;}

(1250 more words & 1 attachments).

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 HEALTHCARE_MARKETING_PLAN.docx (16KB)  
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Scholaronline
 Scholaronline
posted
Jun 26 2014 
library

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tached ...(2 more words & 1 attachments).
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 Health_Marketing_Plan.doc (90KB)  
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StatEco
 StatEco
posted
Jun 26 2014 
library

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ion ...(1 more words & 2 attachments).
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 Customer-Oriented_Strategic_Plan.doc (28KB)  
 jun27001Customer-Oriented_Strategic_Plan.doc (30KB)  
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