Accounts Notes Double Entry Example 1 Transactions Debit (In) Credit (Out) Bought goods for resale for cash Purchases Cash Sold goods for cash Cash Sales Paid cash into bank Bank Cash Sold goods and received cheque Bank Sales Bought goods and paid by cheque Purchases Bank Example 2 Transactions Debit Credit Bought goods on credit from M.Mizzi Purchases M.Mizzi Paid M.Mizzi in cash one week later M.Mizzi Cash Sold goods on credit to S.Said S.Said Sales S.Said paid by cheque Bank S.Said Example
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unsecured debt only) 11‚653 / 15‚487 = 75.24% f) In dollar what was the dollar amount of common stock repurchased in 2010? 2‚452 g) What is the net margin of the credit card business including non-recourse debt collateralized by credit card receivables for the year ended 2011?
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Question 1 Correct! The sale of receivables by a business can be a quick way to generate cash for operating needs. The sale of receivables by a business can be a quick way to generate cash for operating needs. Question 2 Correct! April 30 –13 = 17 days remaining in April + 31 days in May + 12 days in June = a maturity date of June 12. A 60-day note receivable dated April 13 has a maturity date of June 12. Question 3 Correct! A
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an essay on the following topic: "Discuss cultural differences as they exist in American and Vietnamese culture and suggest some ways to overcome them." CONTENT The difference of culture impacts so much to the way to living‚ the way of thinking and the way of doing business. America and Vietnam have a big difference in culture‚ religion and business. However‚ we live in a world where it is called flat world‚ where there is no restriction between countries. It requires us to integrate in order to
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"age of discovery" resulted in the greatest human catastrophe the world has ever known: 90% of Amerindians died by 1600; slavery of tens of millions of Africans. Cultural differences between European and Amerindians were so immense that major conflict occurred in the 15th‚ 16th and 17th centuries. Summary of relations between the three major colonial powers in America and the Amerindians Spain sought to Christianize and control the Indians (through the encomienda and mission systems) The French
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accounting coursework 1. Explain the similarities between non-current assets and current assets? (3 marks) Similarities: Acquired by a business to gain profit or chances of investment Both current and non-current assets are recorded on the balance sheet Differences Current assets are intended for consumption of sale realised during a year Current assets is used for trading or transactions Current assest have direct results of the profit gained in the business such as bank balance Non-current
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comprise of source documents‚ prima entry‚ ledger‚ draft trial balances & financial statement‚ adjustments‚ adjusted trial balance & financial statement and closing entries. At first source documents‚ are things like invoice‚ credit note‚ debit note‚ cash bill‚ payment voucher‚ official receipt‚ cheque counterfoil and memo. All this document are related to financial transaction of the organization. The source document is essential to the bookkeeping and accounting process. It is the evidence
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Financial accounting 1.5.2 Management accounting 1.5.3 Cost accounting 1.5.4 Distinction between financial and management accounting 1.6 1.7 Keywords 1.8 Self assessment questions 1.9 1.0 Summary References/suggested readings OBJECTIVES After going through this lesson‚ you will be able to· Understand the meaning and nature of accounting. · Differentiate between various types of accounting. · Know development of accounting principle. · Explain
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behave in completely different ways. Men are often scrutinized for being too aggressive‚ violent and only wanting sex. Women‚ on the other hand‚ are often criticized for being too bossy‚ fussy and only wanting commitment in a relationship. The differences in the way males and females behave can be accounted for through both nature and nurture aspects. In regard to behavior‚ men and women are expected to play standard roles in life. Men are expected to earn the money for the family‚ bring home the
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bank‚ potential vendors‚ or other interested parties. An account system is also important to process sales‚ purchase orders‚ invoices‚ payroll‚ and other business functions manually. The accounting system must be scalable‚ secure and gather data feed from other business systems to collect up-to-date business finances. The installed REMS came with the following Finance and Accounting Financial Modules: General Ledger Module‚ Accounts Payable Module‚ POS module‚ Bank Reconciliation Module‚
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