May 14‚ 2012 [ EXECUTIVE DIPLOMA] EXECUTIVE DIPLOMA IN BUSINESS MANAGEMENT Awarded by the Asia e University Assignment [Business Accounting] Submission due date : 23rd June 2012 by or before 5.30pm 1 May 14‚ 2012 [ EXECUTIVE DIPLOMA] Assignment Question Scenario You have been recruited to help your uncle’s family to set up and run a supermarket called ‘BeliMurah Mart’ in Petaling Jaya. In the past‚ they had set up and managed smaller scale businesses‚ but
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He or she should be able to handle incoming and outgoing mails‚ use the telephone‚ transmit facsimiles and other forms of telecommunications‚ and use shipping services. 3. RECORDS MANAGEMENT This includes knowledge of the various filing system‚ filing supplies and equipment. This covers records management procedures and organization and control of the filing system. 4. WORD PROCESSING In the business world today there is rapid and continuous flow of information which are produced and
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events and transactions occurred during April. April 1 Stockholders invested $40‚000 cash in the business in exchange for common stock. 4 Purchased land costing $30‚000 for cash. 8 Incurred advertising expense of $1‚800 on account. 11 Paid salaries to employee $1‚500. 12 Hired park manager at a salary of $4‚000 per month‚ effective May 1. 13 Paid $1‚500 cash for a one –year insurance policy. 17 Declared and paid a $1‚000 cash dividend
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(in millions of dollars). Current assets: 2012 2011 Current liabilities: Cash and marketable securities Accrued wages and $ 34 $ 25 taxes 2012 2011 $ 32 $ 31 Accounts receivable 143 128 Accounts payable Inventory 206 187 Notes payable Total $383 $340 Total $175 87 $195 76 76 68 Calculate Ramakrishnan‚ Inc.’s current ratio
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shows a relatively slow increasing pattern from 0.90 times to 1.18 times. By contrast‚ it indicates that although both companies’ ability to convert a dollar investment in assets into sales revenue dollars has improved as well as their internal management in managing their assets over the past 4 years‚ company alpha‚ who has a relatively higher ratio‚ has shown a more successful and efficiency strength on using its asset to generate revenue in general. We need to be aware‚ however‚ this may be caused
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reviewed certain transactions that affected accounts receivable and the allowance for doubtful accounts. The controller first examined the December 31‚ 2005‚ balance sheet (Exhibit 1). A subsequent review of the year’s transactions applicable to accounts receivable revealed the items listed below: 1. Sales on account during 2006 amounted to $9‚965‚575. 2. Payment received on accounts receivable during 2006 totaled $9‚685‚420. 3. During the year‚ accounts receivable totaling $26‚854 were deemed uncollectible
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obvious. 1. What type of data is found in the general ledger a.a chronological record of all transactionsb.the balance of each account in the chart of accountsc.budget records for each account in the chart of accountsd.subsidiary details supporting a control account 2. Which steps in the Financial Accounting Process are in the correct sequence based on closing the accounts and determining timing differences prior to issuing financial statements a.record the transaction‚ post to the ledger‚ prepare
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Ledger Accounts Payable Accounts Receivable Order Entry Procurement Sales and Purchasing History Invoicing and Shipping Payroll Financial Reporting EDI* Bar Code Reading* EDSS (Executive Decision Support System)* *San Jose Only Accounting software includes: 1. Point of sale cash register scanning 2. Inventory goods‚ raw materials‚ finished products 3. Time billable hours 4. General ledger accounts 5. Accounts payable amount company owes 6. Accounts receivable
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processing and recording sales returns and allowances‚ (b) writing off uncollectible accounts receivable‚ and (c) providing for bad debts (Arens‚ Elderly‚ & Beasley‚ 2012)‚ these business functions are absent from the Apollo Shoes work paper control systems and these deficiencies require identification. For instance there appear to have been some discrepancies discovered in the sales and accounts receivable area and Darlene Wardlaw indicated that some sales transactions were missing the
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written about the importance of working capital management regarding the profitability of a firm (Shin and Soenen‚ 1998; Deloof‚ 2003; Garcia-Tereul and Martinez- Solano‚ 2007; Raheman and Nasr‚ 2007; Mathuva‚ 2009; Dong and Su‚ 2010). Various authors have conducted researches in different countries on employing working capital in an optimal way in order to pursue profitability. But some authors still have different findings on how working capital management in terms of cash conversion cycle and its components
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