classifies into three areas of transaction‚ transaction on trust funds‚ general fund‚ and educational trust funds. The transaction works on the individual claims that belongs to Personal Services‚ General Services‚ Other Maintenance and Operating Expenses‚ and Capital Outlay. These transactions will be record in the logbook for funding. After recording it will be forwarded to the bookkeeper for bookkeeping‚ to record allotment to recognize expenditures of offices‚ then appropriate fund and account
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the formula: [pic] Where‚ re = rf + β(rm – rf) = 6.71% + 0.73 x 6% = 11.09% Equity = 16‚474‚521 Debt/Equity = 0.18 Debt = 2‚965‚414 Interest Expenses = 128‚655 We have used the company’s debt/equity ratio to calculate the amount of debt and after that we estimate company’s cost of debt (rd) using the interest expenses as part of the total amount of the debt. rd = 128‚655x2 / 2‚965‚414 = 8.68% Tax rate = 34% WACC = 16‚474‚521/(16‚474‚521+2‚965‚414) x 11.09% + 2‚965‚414/(16
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000 | 5‚000 | 4‚000 | | | labor(20% of M+1 sales) | 14‚000 | 17‚000 | 20‚000 | 14‚000 | 10‚000 | 5‚000 | | | G&A expenses | | 8‚000 | 8‚000 | 8‚000 | 8‚000 | 8‚000 | 8‚000 | | | Lease fee | | 3‚000 | 3‚000 | 3‚000 | 3‚000 | 3‚000 | 3‚000 | | | Miscellaneous expense | 2‚500 | 2‚500 | 2‚500 | 2‚500 | 2‚500 | 2‚500 | | | Interest expense paid | 5‚000 | | | | | | | | Purchasing a machine | | | | | | 50‚000 | | | Tax | | | | | 75‚000 |
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The Eight Steps of the Accounting Cycle By Lita Epstein 8 of 12 in Series: The Essentials of Accounting Basics As a bookkeeper‚ you complete your work by completing the tasks of the accounting cycle. It’s called a cycle because the accounting workflow is circular: entering transactions‚ manipulating the transactions through the accounting cycle‚ closing the books at the end of the accounting period‚ and then starting the entire cycle again for the next accounting period. The accounting cycle
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business doesn’t record the cash transactions correctly then it cannot report its financial bills. The sales records will be updated regularly; this should give you a good idea on how the business is doing through sales‚ receiving payment‚ paying expenses and so on. The money going out seems to be going out faster than the money coming in then the owner or bookmaker should keep a close eye on the bank balance to ensure that they have sufficient funds for future transactions. Record Transactions
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are sold. The cost of manufactured inventory are product cost. All cost incurred in manufacturing finished goods are stored in inventory until the product are sold. The product cost of the inventory sold become cost of goods sold and appear as an expenses on the income statement. ANSWER Q2 : ITEM | PRODUCT/PERIOD COST | VARIABLE/FIXED | | PRODUCT | PERIOD | VARIABLE | FIXED | a) Tomatoes used in the manufacture of Hunts ketchup | X | | X | | b) Administrative salaries of executives
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Comparing IFRS to GAAP ACC/291 xxxx xxxxx Comparing IFRS to GAAP IFRS 8-1: What are some steps taken by both the FASB and IASB to move to fair value measurement for financial instruments? In what ways have some of the approaches differed? A fair value measurement gives companies an accurate portrayal of the company’s assets. Both IFRS and GAAP have requirements of specific information that needs to be reported regarding fair value measurement practices. With both systems‚ companies are required
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Teacher Resource Bank GCE Accounting Scheme of Work (Revised August 2011) Copyright © 2011 AQA and its licensors. All rights reserved. The Assessment and Qualifications Alliance (AQA) is a company limited by guarantee registered in England and Wales (company number 3644723) and a registered charity (registered charity number 1073334). Registered address: AQA‚ Devas Street‚ Manchester M15 6EX. Mr Andrew Hall‚ Chief Executive. Teacher Resource Bank / GCE Accounting / Scheme of Work /
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ACCT556 Budgeting Project TO THE STUDENT Fantastic‚ Inc. is a case study which allows you to incorporate numerous financial and managerial accounting concepts into a single business setting. You will take the position of the company controller who will prepare the budget for the year ended December 31‚ 2006‚ using the actual data from 2001 through 2005 and information given to you by various departments. You will prepare a report for the president of the company describing the strengths and
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identifying the year to year change and using financial ratios found on A6‚ there are a couple of concerns that need to be identified. The fact that the operating expense from fluctuated from an increase $892‚861 from 2009 to 2010 and then decreased by $956‚231 from 2010 to 2011 should be raised in question. At the same time Operating expenses income from operations decreased from 2009-2010 by $1‚260‚571 and increased from 2010-2011 by $78‚541. The -23.10% from 2009-2010 is concerning in their ability
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