Accounting for the iPhone at Apple‚ Inc. (HBS 9-111-003) 1. Exhibit 3 provides the journal entries under subscription accounting. Refer to the example in Exhibit 3. a) Complete the following FSET assuming the Apple follows subscription accounting to account for iPhone’s sales revenue (separately for the transaction in Quarter 1 and in Quarters 2 to 8). Balance Sheet Income Statement Transaction Cash Asset + Noncash Assets - = Liabilities + Contrib. Capital + Earned Capital Revenues
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The Accounting Cycle Deanna Ruocco ACC 421 June 18‚ 2012 Bryan Lichau The Accounting Cycle The accounting cycle is a process that normally uses accounting procedures to record transactions and prepare financial statements of a company. The accounting cycle is made up of nine steps: Journalizing‚ posting‚ trial balance‚ adjusting entries‚ adjusted trial balance‚ preparing financial statements‚ closing‚ post-closing trial balance‚ and reversing entries. This presentation
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Running head: ACCOUNTING CYCLE PAPER Accounting Cycle Paper ACC/421 Intermediate Financial Accounting I University of Phoenix January 10‚ 2011 Accounting Cycle Paper When making decisions‚ businesses must provide and be able to gather relevant and accurate financial information. Being able to gather and understand this information helps companies make the best informed decisions for business operations‚ which can only benefit the company. When it comes to gathering the information
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Coca Cola Accounting Cycle Theresa Gibbs Acc/421 November 7‚ 2011 June Hanson Coca Cola Accounting Cycle The Coca-Cola Company “branded beverage products available to consumers throughout the world through our network of Company-owned or controlled bottling and distribution operations‚ bottling partners‚ distributors‚ wholesalers and retailers — the world’s largest beverage distribution system” (The Coca-Cola Company‚ 2010‚ p. 91). Coca-Cola uses two methods of accounting the equity method
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performing the basic arithmetical‚ logical‚ and input/output operations of the system. In the computer industry‚ the terms computer and CPU are often used interchangeably. Computing power starts with the most limited microcomputers which are laptop computers‚ netbook computers‚ PDAs and cell phones and increases in capabilities such as speed‚ multiuser support and peripheral equipment with minicomputers‚ mainframe computers and supercomputers. The accounting systems of small businesses can often be
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Steps to the Accounting Cycle The term‚ accounting cycle‚ refers to the steps involved in accounting for all of the business activities during an accounting period. These steps are repeated each reporting period. There are ten steps to the accounting cycle. We will go through each one in detail later. But let’s review the basics. Step one begins with analyze transactions. Step two – journalize. Step three – Post. Step four – prepare unadjusted trial balance. Step five – adjust. Step six – prepare
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UNIVERSITY OF PHOENIX 9 Steps of the Accounting Cycle XACC/280 1/28/2014 The nine steps of the accounting cycle helps you prepare an accurate closing trail balance. By doing these steps correctly will eliminate recording errors whether they are positive or negative. The first step is to analyze all the transactions made during the period of time the trial balance is for whether it is weekly‚ monthly or quarterly which really depends on how big is the business. The next
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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 has eight basic
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Accounting Cycle Paper Abstract The purpose is to discuss the accounting cycle in my organization. Describe the accounting cycle from identifying the transaction to the after-closing trial balance. Identify the Transactions Accounts Payable receives invoices from various sources including the inter-office mail‚ U.S. mail‚ facsimile‚ etc. A review is made of each invoice to identify the invoice number‚ purchase order number‚ date of invoice‚ amount of invoice‚ and whether taxable or non-taxable
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The objective of input design is to ensure the quality‚ accuracy‚ completeness‚ and timeliness of input data during its conversion from its original source into computer data‚ or entry into a computer application. Data can be entered into a computer application from either manual online input or by scheduled automated processing. Input controls will ensure that data is accurately processed through the application and that no data is added‚ lost‚ or altered during processing (Shu‚ unk). No matter
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