Problem set C PROBLEM 3-1C For each of the following entries‚ enter the letter of the explanation that most closely describes it in the space beside each entry. (You can use letters more than once.) A. To record receipt of unearned revenue. B. To record this period’s earning of prior unearned revenue. C. To record payment of an accrued expense. D. To record receipt of an accrued revenue. E. To record an accrued expense. F. To record an accrued revenue G. To record this period’s
Premium Generally Accepted Accounting Principles Accounts receivable Balance sheet
INTRODUCTION: Trial balance is a statement which shows debit balances and credit balances of all accounts in the ledger. Since‚ every debit should have a corresponding credit as per the rules of double entry system‚ the total of the debit balances and credit balances should tally (agree). In case‚ there is a difference‚ one has to check the correctness of the balances brought forward from the respective accounts. Trial balance can be prepared in any date provided accounts are balanced. DEFINITION
Premium Accounts receivable Double-entry bookkeeping system Accounting software
Rice pest and its control 1. Rice case worm/case bearer • Aquatic insects‚ pale translucent green larva with pale orange head • Found in irrigated and wetland areas with standing water • Larva lives in sections of leaves cut from young rice plant into tubes called cases • The adults are nocturnal and are attracted to light traps. The larva hides in its case then float on the water surface during the day and crawls to the rice plant with its case to feed. Damage • Begins in a flooded
Premium Leaf Insect
Merideth Harper has invested $25‚000 in Southwest Development Company. The firm has recently declared backruptcy and has $60‚000 in unpaid debts. Explain the nature of payments‚ if any‚ by Ms. Harper in each of the following situations a. Southwest Development Company is a sole proprietorship owned by Ms. Harper. b. Southwest Development Company is a 50-50 partnership of Ms. Harper and Christopher Black. c. Southwest Development Company is a corporation. P1-3 (Page 27) a. It is typical for Jane to
Premium Balance sheet Generally Accepted Accounting Principles Accounts receivable
Sonoco Products Company (A): Building a World-Class HR Organization Sonoco Products Company is a global packaging company that began in 1899 in Hartsville‚ South Carolina. During 1990’s Sonoco was one of the largest packaging companies in the world with revenues reached $2.6 billion through the manufacture and sales of consumer and industrial packaging‚ with 17‚300 employees across 285 operations in 32 countries‚ serving customers in 85 nations. During 1990’s the United States was
Premium Human resources
1. Bhalla runs a small taxi service with just 2 cars initially and his family members and friends being his regular customers. Off late the demand for his taxi has increased which resulted due to advertisement in yellow pages and in the dailies. To deal with the increase in business Bhalla leased another luxury car and hired one more additional driver above an existing driver. During the first few days of his business he kept a written record of all his transactions. But as the number of transactions
Premium Sales
CHEMICALS | INCORPORATION OF GALLANT CHEMICALS: MEMORANDUM OF ASSOSIATION: THE COMPANIES ORDINANCE‚ 1984 (PRIVATE COMPANY LIMITED BY SHARES) MEMORANDUM OF ASSOCIATION OF GALLANT CHEMICALS PRIVATE LIMITED 1) The name of the Company is "GALLANT CHEMICALS PRIVATE LIMITED." 2) The Registered Office of the Company will be situated in the province of BALOCHISTAN. 3) The objects for which the Company is established are: * To carry on the business of manufacturers‚ producers
Premium Corporation
-Starbucks Corporation and the use of “Off-Balance Sheet” Financing Starbucks Corporation‚ founded in 1985 in Seattle‚ Washington‚ purchases‚ roasts and sells whole bean coffees at retail locations worldwide. Starbuck’s in-store products include brewed coffees‚ espresso beverages‚ blended beverages‚ complimentary food items‚ teas and brewing equipment. At the end of 2009‚ Starbucks operated through 7‚ 803 retail locations in 49 countries (Annual Report 4). In recent years‚ Starbucks’s stock
Premium Lease Balance sheet Finance lease
I. INTRODUCTION Gerber‚ a U.S company producing jarred baby food‚ was considering in 1991 whether they should acquire Alima SA‚ one of Poland’s largest and most successful food processing plants. With this deal‚ Gerber expected to build a low-cost base for its European operation as a platform for growing markets of Central and Eastern Europe. Because the deal could help to have the aging plant modernized and boost its sagging export trade while bringing hard currency at the same time‚ Poland government
Premium Poland Baby food Investment
Provide Reception Services 1 Understand the purpose of reception services in a business environment: 1.1 Explain the purpose of the receptionist role as the first point of contact between the public/client and an organisation: The receptionist that the customer meets/speaks to first needs to give a good impression of the company‚ they need to appear very professional‚ this can be portrayed in many different ways including personal appearance and how you are seen to act towards customers. If on
Premium Visitor Idea Receptionist