2011 June 1 Mr. Edgar Detoya opened a bank current account with Land Bank of the Philippines in the amount of P1‚000‚000 and invested merchandise inventory valued at P45‚000 to start with his business. GJ Cash in Bank 1‚000‚000 Merchandise Inventory 45‚000 E. Detoya‚ Capital 1‚045‚000 Initial Investment June 15 Purchased store furniture and fixtures for cash from Ayala de Cebu costing P150‚000 plus VAT of 12%. Issued Check No. 48501 covered by Check Voucher No. 001. CDJ Store Furniture
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depreciated or depleted Life Cycle of Operational Assets Acquire Funding Buy Assets Use Asset Retire Asset Depreciation Double-declining-balance – produces more depreciation expense in the early years of an asset’s life‚ with a declining amount of expense in later years. Determine the straight-line rate of depreciation. Multiply the straight-line rate times two. Multiply the double-declining rate by the book value of the asset at the beginning of the period.
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AP-3: ⇒Audit Program for Accounts Receivable Company Balance Sheet Date | | | The company has the following general ledger accounts that are classified in the accounts‚ notes‚ or other receivables captions of the | |balance sheet:
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Ad - www.dailyexpress.com‚ Printing Header - Daily Express Supplies‚ Active Manager - Mr. Alfredo Salvador‚ Jr.‚ Tel 1 -28401212‚ Tel 2 – 27400000‚ Fax - 27400000‚ Email - dailyexpress@webmail.com. Its main business is to supply school items for students. Do the following. 1. Create Daily Express Company and 2014 posting period with sub-periods in months. 2. Enter company details found in the above paragraph. 3. Philippine currency for the local and system currency. 4. Setup payment term
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2/6/13 Technology in the next 100 years: the futurologist’s view ComputerWeekly.com Technology in the next 100 years: the futurologist’s view Futurologist Ian Pearson discussed technologies of the future to more than 200 IT‚ security and finance delegates on the Aurora cruise ship. He spoke of IT security threats from smart bacteria‚ gadgets which are installed in the skin‚ the soaring of tax rates precipitating the emigration of graduates to low-tax economies‚ oil at 30 dollars a barrel
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1: Aging Schedule of Accounts Receivable AGE OF ACCOUNT | BALANCE OUTSTANDING | % OF TOTAL BALANCE OUTSTANDING | 0-15 days | $ 20‚000 | 19.59 % | 16-30 days | 30‚000 | 29.39 | 31-60 days | 40‚000 | 39.19 | 61-90 days | 10‚000 | 9.80 | Beyond 90 days | 2‚071 | 2.03 | TOTAL | $ 102‚071 | 100.0 % | 2. To evaluate the credit quality of Aero-Strip’s accounts receivables portfolio‚ we turn to their average collection period (ACP) and aging of accounts receivable. Knowing the ACP enables
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has slight increase in accounts receivable reflecting the timing of seasonal sales at the end of 2011 as compared with 2010. Although its primary credit risk concentrates on two clients‚ McLane and Wal-Mart‚ its accounts receivable turnover is increasing. It means Hershey’s collection ability is good. Accounts Receivable—Trade In the normal course of business‚ we extend credit to customers that satisfy pre-defined credit criteria based upon the results of our recurring financial account reviews and
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tC Traditionally‚ beauty care products in India had been limited to herbs and homemade products. Only soaps‚ hair oil‚ shampoos‚ and talcum powder from the organized industry had been able to penetrate the Indian market. However‚ with a steady increase in the awareness of hygiene and personal grooming across urban and rural India‚ several beauty and personal care categories gained
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| | b. Recording supplies that have been purchased with cash but not yet used. | | | c. Recording revenue that has been earned but not yet collected in cash. | | | d. A. and C. | | Correct Marks for this submission: 5/5. Question 2 Marks: 5 Which resource provider typically receives first priority when resources are divided as part of a business ’s liquidation? Choose one answer. | a. stockholders | | | b. owners | | | c. the company ’s managers | | | d
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system aims to provide the Grocery Store an effective and efficienct sales and Inventory System that will increase the production of the store. The proponents developed a system that will fit the needs of the users that has a specific task in the store. If also aims to provide the user to have easy and accurate information as they will use a computerized system. The proponents are now developing computerized sales and inventory for the store. The following will benefits from the study. MANAGER
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