Financial Statements Paper ACC/290 September 04‚ 2013 University of Phoenix Financial Statements Paper Many businesses continue to rise and fall in a tremendously competitive environment in the United States and across the world. There are several internal factors such as managers or employees and external factors such as competition or government interference that drive the success and profitability of a business or organization. One major component of operating a successful and profitable
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Exercise E-4 a) Describe each transaction 1. $20‚000 in cash is invested in exchange for common stock 2. $5000 in equipment is received‚ with $1000 paid in cash‚ and $4000 billed through Accounts Payable 3. $750 cash is paid for supplies 4. $9500 in services was preformed‚ with $4100 paid for in cash‚ and $5400 billed through Accounts Receivable 5. $1500 was paid to Accounts Payable 6. $2000 was paid in cash in dividends
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Week 2 Homework 4-8 |Under SEC rules‚ your close family members include your spouse (or equivalent) and dependents and your parents‚ nondependent | |children‚ and siblings. If you are a covered person‚ your independence is affected if your close family member has an accounting | |role or financial reporting oversight role with the SEC Audit Client (for example‚ the family member is a treasurer‚ CFO‚ | |accounting supervisor‚ or controller) or owns more than 5 percent of a client’s
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Sandra Wilson Week 2 Discussion 1 Dreams Do Come True Imagine that you have decided you need a new car‚ but not any car will do; you have decided to purchase the car of your dreams. Conduct some research as to the cost of this car. You have determined in this imagined scenario that you could afford to make a 10% down payment. You can borrow the balance either from your local bank using a four-year loan or from the dealership’s finance company. If you purchase from your dealership’s finance
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E9-1 The following expenditures relating to plant assets were made by Spaulding Company during the first 2 months of 2011. 1. Paid $5‚000 of accrued taxes at time plant site was acquired. 2. Paid $200 insurance to cover possible accident loss on new factory machinery while the machinery was in transit. 3. Paid $850 sales taxes on new delivery truck. 4. Paid $17‚500 for parking lots and driveways on new plant site. 5. Paid $250 to have company name and advertising slogan painted on new
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the period in which the sale was made. There are three essential accounting features to the allowance method: 1. Uncollected debt for accounts receivable are matched against revenues within the same accounting period in which they are recorded. 2. Estimated uncollected debt are debited to bad debts expense and credited to Allowance for Doubtful Accounts via an adjusting entry at the end of each period. 3. Allowance for Doubtful Accounts are actually debited and credited to accounts receivable
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Comparing IFRS to GAAP Essay ACC/290 November 24‚ 2014 Comparing IFRS to GAAP Paper Although the International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP) have a lot of similar guidelines and expectations‚ they also differ in many ways. The IFRS employs more of a “principles based” accounting standards whereas GAAP utilizes more of a “rules based” approach. Even though there are differences between terminology‚ revenue recognition‚ gains and/or losses
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Individual Summary of Team Discussion Week 2 HRM/531 Human Capital Management Individual Summary of Team Discussion Week 2 The team assignment for week two was to first discuss the week’s objectives with our team members. The objectives for week two were to explain how a job analysis is used to create a job description and to explain the functions of a job description. A job analysis is an in-depth study of various collected information about the specific duties‚ key responsibilities‚
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In the file ACC 291 Week 2 Discussion Question 2 there are right answers on the following questions: "What types of industries have unearned revenue? Why is unearned revenue considered a liability? When is the unearned revenue recognized in the financial statements? What does your Annual Report say about unearned revenue?" Business - Accounting ACC 291 All Week 4 Assignments - Individual WileyPlus Assignment Includes: Week 4 Chapter 13 practice quiz 1 Week 4 Chapter 14 Practice
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Riordan Manufacturing – Part 1 Learning Team B BSA/310 – Information Systems Fundamentals September 10‚ 2012 Mark Bentcover Riordan Manufacturing Executive Summary Abstract Riordan Manufacturing is a global plastics manufacturer with 550 employees. The corporate headquarters are based in San Jose‚ CA‚ and its plants are located in Georgia‚ Michigan‚ and China. The company is owned by Riordan Industries. Its projected earnings are $46 million‚ and it holds revenues in excess of $1
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