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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Team D Reflection During Week Two of ACC/291 Team D’s objective was to discuss the week’s topics as outlined in the syllabus. Additionally‚ team members were to discuss any challenges or problems with the topics that may have been experienced. Below is a summary of Team D’s discussion for Week Two. Objective 2.1 Differentiate among accounts payable‚ notes payable and accrued expenses. The team’s objective was first to differentiate and explain accounts payable‚ notes payable and accrued expenses
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Week 1‚ DQ 1: How would you describe the entries to record the disposition of accounts receivables? What is their function? Since the majority of US thrive on the use of credit cards‚ the accounts receivables for a company may no longer be on a cash-to-cash basis. A company may need to sell these accounts to other companies who specialize in handling accounts receivables if they need cash more quickly or if it would be too costly to perform the necessary billing to collect on the account. The
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Why People Travel Robert Johnson HTT/200 Israel Johnson 8/2/13 Why People Travel People travel to many different places for many different reasons every day. One of the reasons why most people travel is to sight see. For many people seeing new places and things can be very exciting and entertaining. Very often people tend to sight see while doing of the things that almost every single one of us does and that’s going on vacation. Taking a vacation is one of the most common reasons that I think
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13. Use this information to calculate the following: Sales returns $ 700 Rent expense 1‚288 Sales discounts 950 Depreciation expense 600 Cost of merchandise sold 7‚600 Gross sales 20‚900 Advertising expense 1‚650 Salary expense 2‚900 Heat expense 900 A. Net sales B. Gross profit C. Total operating expenses D. Net Income 14.A truck costing $25‚000 with a residual value of $5‚000 was purchased by Rim Corporation. The truck’s estimated life is 10 years. At the end of Year 2‚ what is the book
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debit Accounts Payable $2‚100 and Credit Purchases $2‚100. D) debit Purchases $2‚100 and credit Cash $2‚100. 7. The purchasing agent prepares a receiving report indicating the specific goods received and the quantity of goods. A) True B) False 8. Trade discounts are recorded in the accounting records of both the buyer and the seller. A) True B)
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September and October. Oct. 1 Acquired a franchise for $100‚000. The franchise has a useful life of 50 years. Prepare entries to record transactions related to acquisition and amortization of intangibles; prepare the intangible assets section. (SO 8‚ 9) Instructions (a) Prepare journal entries to record the transactions above. (b) Prepare journal entries to record the 2012 amortization expense. Amortization Expense— Patents $12‚000 Amortization Expense— Franchise $5‚300 (c) Prepare the intangible
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In the file ACC 291 Week 5 Huffman Trucking you will find overview of the following parts: Memo Huffman Trucking Liquidity Ratios Huffman Trucking Profitability Ratios Huffman Trucking Solvency Ratios Business - Accounting ACC 291 Week 5 Huffman Trucking Project Paper Week Five Assignment Project Overview Huffman Trucking is a large organization that provides transportation of goods and services to its customers. In order to better serve these customers and
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In this file ACC 291 Week 5 WileyPLUS Assignment you can find right answers on the following questions: Exercise E13-1. Pioneer Corporation had the transactions below during 2011. Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities‚ investing activities‚ financing activities‚ or noncash investing and financing activities. Complete the statement of cash flows for 2011 using the indirect method. (List amounts from largest positive
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Memo To: Huffman Trucking CEO From: Date: September 3‚ 2002 ------------------------------------------------- Re: Ratio Analysis Findings Ratios are used to analyze financial statements to determine their profitability‚ liduidity and solvency. Liquidity Ratios are used by suppliers and short-term creditors such as bankers to measure the ability of an organization to pay its maturing short-term financial obligation. This is also used to determine whether the organization will be able to meet
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