not include: a. b. c. 2. d. e. labor unions all of the above statement of owner’s equity income statement balance sheet d. e. both b and c all of the above This account does not appear on the income statement: a. b. c. 6. lenders prospective owners customers Expenses can be found in the: a. b. c. 5. balance sheet balance sheet and journals balance sheet and income statement income statement none of the above External users of financial accounting
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Assets + Expense = Liabilities + Incomes Asset named Cash Balance created and Liability Shareholder’s Capital gets created 100000 + 0 = 100000 + 0 b Purchased inventory on account for $200‚000. Assets + Expense = Liabilities + Incomes Asset named Inventory created and Liability Vendor payable gets created 200000 + 0 = 200000 + 0 c Sold inventory for $200‚000. $75‚000 of the sales were for cash and $125‚000 were on account. The inventory
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ASHFORD UNIVERSITY | Rising Medical Expenses | Are “Sin Taxes” the answer? | ENG122: English Composition IIInstructor: Laura Crittenden | Cory Pelisek | 6/23/2013 | When I think of taxes‚ it reminds me of a quote from one of our greatest presidents in United States history‚ Calvin Coolidge‚ he stated that “Collecting more taxes than is absolutely necessary is legalized robbery.” Raising taxes from one individual to pay for another individual is taking away from our Fifth Amendment
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As at 31 December 2008 Taka Assets: Non current assets : Property‚ plant and equipment‚ net Intangible assets Investment in shares of X-Net Ltd. Long-term receivables and deposits Current assets: Inventories Deferred cost of connection revenue Accounts receivable‚ net Advances‚ deposits and prepayments Cash and cash equivalents Total assets Equity and Liabilities: Shareholders’ equity: Share capital Share premium Capital reserve Deposit from shareholders General reserve Retained earnings 79
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of the forms. You must: Use appropriate software to create the template. Incorporate a range of formulas‚ functions and macros where appropriate. Provide explanatory notes for each of the templates‚ detailing how information is to be managed or input and how the form is to be stored or submitted when completed. Explanatory notes should also indicate any sections of the form that should be checked prior to use (e.g. check that department list reflects current organisational structure). Include reference
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(Also known as "T" Account and Account) Having passed the double or journal entries‚ the next step is to post these double or journal entries into Ledger accounts. Ledger account or an account is simply the classification of double entries which we have made in General Journal or any other journal. In an account we bring together all similar entries in one place. For example a company has purchased goods on 4th and 7th January‚ we would put both entries in purchases account because of their similar
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m.Module 3 CAPITAL BUDGETING Meaning of Capital Budgeting :- Capital Budgeting is the process of making Decisions regarding long term investments in Fixed Assets which are not meant for sale. It is long range planning to employ the available capital for the purpose of maximizing the long term profitability of the concern. Definition of Capital Budgeting:- Prof I.M.PANDEY Defines Capital Budgeting as the firms decision to invest its current funds most efficiently in long term activities
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converted to cash‚ such as actual cash‚ accounts receivable‚ inventory and investments such as bonds and stocks. Intangible assets are items that cannot be physically touched‚ including goodwill‚ patents and trademarks. Read more: What Is the Difference Between an Asset & an Expense? | eHow.com http://www.ehow.com/info_12085244_difference-between-asset-expense.html#ixzz2Lt18CKe5 2 What is an Expense? Expenses are costs related to running the business. Expenses are deducted from revenue to determine
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MODULE 1 ASSIGNMENT Note: Before you begin the assignment for Module 1‚ please click the Module 1 assignment link in the online course navigation pane for instructions on how to complete and submit your responses for marking. Part A: Multiple-choice questions Note: For multiple-choice questions‚ select the best answer. Answer each item by giving the number of your choice. Incorrect answers will be marked as zero. Please include your answers to the Part A multiple-choice questions with your answer
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Debt Expense Memo Introduction Your company has three uncollectible accounts which from three new customers: University of Hare-Brain‚ Dim-State University‚ and the College of Silly‚ each of them owned amount of $5‚000 when they filed for bankruptcy. You decide whether to write the total $15‚000 account payable off as a bad debt expense and
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