D2ACC100 FINANCIAL ACCOUNTING MID SEMESTER EXAM REVISION COMPILATION D2 ACC 100 D2 ACC 100 ACKNOWLEDGEMENT: * Extracted from Past Year Mid Term Exam Paper: D2ACC100 – SEM 1‚ 2006 – SEM 3‚ 2007 * Original idea belongs to Mr Gooi Chee San * Some of the questions have been modified to cater the needs of current student Sem 3‚ 2007 Question 3 Cabao is a financial consultancy firm. It updates its accounts everyday. Indicate the immediate effect of the following errors
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order to meet this growth in on-campus students as well as accommodate the demand for online courses‚ the school is redesigning the network. As the main source of funding for the school is revenue from a property tax and previously approved bond issue‚ the funds must be spent in a fiscally prudent manner while still delivering the required network improvements. The administration‚ in consultation with the elected board of directors‚ the student body‚ the population of the taxing district‚ and the
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Exercises and Problems –W2 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
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increase. Including the dividends in the income calculation would confuse the enterprise’s relationships with customers and owners‚ and would make it less clear whether the enterprise was successful in increasing resources (making income). Problem 2.7 1 2 3 4 5 6 7 8 9 Assets Increase Increase Increase Decrease Increase Increase Liabilities Increase Assets increased and decreased
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previous week): 1. Work for Week’s Team Objectives Accomplished (defined in previous week): This week the biggest objective our team accomplished was setting a team meeting to discuss CanGo issues/problems. It was very difficult for the team to find a common time for everyone to meet. Overall three members were able to meet and one of the members never responded. 2. Review/Highlights of Team Video Analysis Report: Below are the Review/Highlights of Team Video Analysis Report. (Issues and Recommendations
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Wiley Plus Wk 2 Ex & Prob ACC/291 August 6‚ 2012 Wiley Plus Wk. 2 Ex & Prob E8 – 3 Date | Account Titles and Explanation | Debit | Credit | 31 – Dec. | Bad Debts Expense Accounts receivable-Fell | 1‚400 | 1‚400 | | | | | 31 – Dec. | Bad Debts Expense (840‚000 – 30000)*1% Allowance for Doubtful accounts | 8‚100 | 8‚100 | | | | | 31 – Dec. | Bad Debts Expense Allowance for Doubtful Accounts (120‚000*10%)-2100 | 9‚900 | 9‚900 | | | | | 31 – Dec.
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are developed to analyze the data and characterize the risk that might be associated. The information obtained will help to produce the assessment endpoints and conceptual models which are both needed to complete the analysis plan (U.S. Environmental Protection Agency‚ 1998). The analysis phase which consists of characterization of exposure and ecological effects are then guided by the results obtained from the problem formulation. In this phase data is analyzed to decide how exposure to stressors may
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Maria Reyes iLab‚ Week #4 CHARLES’ LAW Introduction The purpose of this lab was to determine the effect of temperature on the volume of gas when the pressure is consistent and to verify Charles’ Law. The data from the experiment reveals that as temperature increases‚ so does volume. This also indicates that as temperature decreases‚ the volume decreases as well. Procedure 1) Select a 60 mL Syringe Sealed from the Gas Syringe item under the Equipment menu. Set the volume to 20 mL in the Initial
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Six Flags Commercial Analysis What makes certain commercials better than others? The key to making an advertisement that stands out to all audiences is to make them understand the purpose of the TV ad‚ while making it interesting. Most aspects of today’s commercials include catchy tunes‚ interesting storylines‚ famous mascots‚ and logos that catch our eye and make us want more. Six Flags commercials include all of these. Many people have seen a Six Flags commercial before
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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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