compute net accounts receivable. a. Accounts Receivable has a balance of $14‚000. The Allowance for Uncollectible Accounts has a credit balance prior to adjustment of $300. An aging schedule prepared on December 31 reveals $1‚100 of uncollectible accounts. b. Accounts Receivable has a balance of $25‚700. The Allowance for Uncollectible Accounts has a debit balance prior to adjustment of $400. An aging schedule prepared on December 31 reveals $2‚300 of uncollectible accounts.
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The question stated that when a Trial Balance balances‚ it means the accounts are free of errors. I disagree with the statement. There may still be errors even if the trial balance is balances. There are six types of errors. The first type of error is the “error of omission” and the word omission mean left out. Its mean that a transaction is not recorded in the books of original entry‚ which mean both the debit and credit effects of the transaction are not shown in the Trial Balance. For example
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used by the government is also subject to changes and improvement to serve its purpose better. One recent change in the New Government Accounting System (NGAS) will be discussed in this paper; hence‚ the topic of this research‚ “Changes in Chart of Accounts of the New Government Accounting System.” This subject matter was chosen by the researchers believing that‚ being accounting students; they are bound to acquire as much knowledge as they can in this field and responsible for keeping themselves updated
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Differentiate among the current account‚ balance of trade and balance of payments. Current account is the net profits that a country gain from its export and imports of goods and services‚ earning from foreign investment also the included the profits from transfer of payments. Current account is important because it includes all international merchandise trade and service accounts‚ that is‚ accounts for the value of all merchandise and services imported and exported and all receipts and payments
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LCCI International Qualifications Book Keeping & Accounts Level 2 Model Answers Series 3 2010 (2007) For further information contact us: Tel. +44 (0) 8707 202909 Email. enquiries@ediplc.com www.lcci.org.uk Book Keeping & Accounts Level 2 Series 3 2010 How to use this booklet Model Answers have been developed by EDI to offer additional information and guidance to Centres‚ teachers and candidates as they prepare for LCCI International Qualifications. The contents of this
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Determination of the Migration Potential in Breast and Lung Cancer Cells in presence of antimigratory therapeutic agent. Marco Brudik and Paloma Aranzazu Godinez Melgoza Medical and Pharmaceutical Biotechnology Program‚ University of Applied Sciences IMC FH Krems. Abstract. The new trends on research points to study the process of tomour-cell invasion and metastasis for developing and testing of anti-migratory agents. The present study develops a quantitative determination of the cancer cell’s
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Budget Deficits and Current Account Disequilibrium in Nigeria: An Econometric Investigation (1970-2010) BY Iyeli I. Iyeli‚ (Ph.D)‚ Clement Utting and Jacob O. Owan Department Of Economics University Of Calabar Calabar‚ Nigeria e-mail:reiyeli@yahoo.com; Tel: +2348036558316 Abstract This study on budget deficits and current account disequilibrium in Nigeria seeks to investigate the effects of budget deficits on current account within the time frame of 1970-2010. Data on this
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How the VA Can Manage your Accounts: With a web accounting administration‚ your virtual colleague can deal with your pay and costs‚ track customer charging and ensure that yours are being paid on time. Sam has two organizations he is running all the while. All requests for his first are invoiced through QuickBooks by his virtual right hand who then tracks when they are paid. Since his is a continuous administration‚ his virtual right hand is additionally ready to monitor the customers’ purchasing
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effective controls to ensure that the business has the lowest risk rate possible. The lower the risk‚ the less likely that fraud would occur. In this analysis‚ Learning Team B will provide a proposal for appropriate controls to cover cash‚ sales‚ accounts receivable‚ inventory‚ and production. The team will discuss some prevention techniques to reduce these risks and make recommendations in areas that will help controls within the organization. Cash Controls Internal controls for cash is essential
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products a large bank provides in their own communities. An area of growing interest as many consumers still struggle to recover from the recent economic crises and the rising cost of healthcare are Health Spending Accounts (HSA)‚ Health Reimbursement Accounts (HRA)‚ and Flexible Spending Accounts (FSA). Wells Fargo in its attempt to provide a wide array of Products and Services has broken its business into three core areas of focus including personal banking‚ wholesale/lending banking‚ and investments/insurance
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