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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Week Two Exercise Assignment Revenue and Expenses 1. Recognition of concepts. Jim Armstrong operates a small company that books entertainers for theaters‚ parties‚ conventions‚ and so forth. The company’s fiscal year ends on June 30. Consider the following items and classify each as either (1) prepaid expense‚ (2) unearned revenue‚ (3) accrued expense‚ (4) accrued revenue‚ or (5) none of the foregoing. a. Interest owed on the company’s bank loan‚ to be paid in early July Prepaid expense
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Analysis Process: 1. Display program welcome message 2. Ask for item name 3. Ask for item price 4. Ask for pound weight 5. Ask for ounces 6. Convert pounds to ounces then add to input ounces 7. Divide total price by ounces 8. Display the price per ounce. Input: Item Name Item Price Item Weight in pounds Ounces as integer Output: Unit price Main Module Declare Name as String Declare Price as real Declare Lbs as integer Declare Oz as integer Declare UnitPrice
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[pic] |Syllabus College of Information Systems & Technology IT/210 Version 5 Fundamentals of Programming With Algorithms and Logic | |Copyright © 2011‚ 2009‚ 2008‚ 2007‚ 2006 by University of Phoenix. All rights reserved. Course Description This course provides students with a basic understanding of programming practices. Concepts covered include flowcharting‚ pseudocode methodologies‚ and an understanding of programming practices. Students will learn how these concepts‚ when properly
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Week 2 Homework 4-8 |Under SEC rules‚ your close family members include your spouse (or equivalent) and dependents and your parents‚ nondependent | |children‚ and siblings. If you are a covered person‚ your independence is affected if your close family member has an accounting | |role or financial reporting oversight role with the SEC Audit Client (for example‚ the family member is a treasurer‚ CFO‚ | |accounting supervisor‚ or controller) or owns more than 5 percent of a client’s
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Sandra Wilson Week 2 Discussion 1 Dreams Do Come True Imagine that you have decided you need a new car‚ but not any car will do; you have decided to purchase the car of your dreams. Conduct some research as to the cost of this car. You have determined in this imagined scenario that you could afford to make a 10% down payment. You can borrow the balance either from your local bank using a four-year loan or from the dealership’s finance company. If you purchase from your dealership’s finance
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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 painted on new
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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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This work of ACC 422 Week 2 Individual Assignment includes: Chapter 8 1) Question 8-13 2. Due Day 7 (Monday): Exercises from the Text Prepare written responses to the following assignments from the text‚ Intermediate Accounting‚ 12th ed.: Chapter 7 1) Exercise E7-2 E7-2 (Determine Cash Balance) Presented below are a number of independent situations. Instructions For each individual situation‚ determine the amount that should be reported as cash. If the item(s) is not reported as cash‚ explain
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In the file ACC 291 Week 2 Discussion Question 2 there are right answers on the following questions: "What types of industries have unearned revenue? Why is unearned revenue considered a liability? When is the unearned revenue recognized in the financial statements? What does your Annual Report say about unearned revenue?" Business - Accounting ACC 291 All Week 4 Assignments - Individual WileyPlus Assignment Includes: Week 4 Chapter 13 practice quiz 1 Week 4 Chapter 14 Practice
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