Unearned revenues are revenues that are received before the company delivers goods or provides services. Some industries that have unearned revenues would include magazine publishers as they only receive checks from customers once the magazine is ordered. Until then the company awaits payment and does not have this in advance. Another company would be airlines because they receive cash once the tickets are sold for future flights. Unearned revenue is used by any company that accepts payments or deposits
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------------------------------------------------- 1) The Sarbanes-Oxley Act requires that all publicly traded companies maintain a system of internal controls. Internal controls can be defined as a plan to A.safeguard assets B.monitor balance sheets C.control liabilities D.evaluate capital stock ------------------------------------------------- 2) The purchase of treasury stock A. decreases common stock authorized B. decreases common stock issued C. decreases common stock outstanding D
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ACC/291 March 25‚2012 Liquidity Ratios Current Ratio: Current Assets/Current Liabilities 2005 $14‚555‚092/ $6‚974‚752= 2.09:1 2004 $14‚643‚456/ $6‚029‚696=2.43:1 Acid Test Ratio: Cash+ Short-Term Investments + Receivables (Net)/ Current Liabilities 2005 $305‚563 + $283‚583 +$6‚133‚663/ $6‚974‚752= .96:1 2004 $357‚216 + $133‚504 + $5‚775‚104/ $6‚029‚696=1.04:1 Receivables Turnover: Net Credit Sales/ Average Net Receivables 2005 $50‚823‚685/ ($6‚133‚663 + 5‚775‚104/2) $50‚823‚685/
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In the file ACC 291 Week 3 Reflection Summary you will find overview of the following parts: Calculating stock‚ dividends‚ and stock splits Differentiate types of stocks issued by corporations. Reference Business - Accounting ACC 291 All Week 3 Assignments - Individual WileyPlus Assignment Includes: Week 3 Chapter 11 practice quiz 1 Week 3 Chapter 12 Practice quiz 1 Week 3 reflection summary Week 3 Discussion questions 1 and 2 Week 3 Individual
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In the file ACC 291 Week 2 Reflection Summary you will find overview of the following parts: Identify the entries associated with acquisition‚ disposal‚ and sales of plant assets. Distinguish between tangible and intangible assets. Differentiate between accounts payable‚ notes payable‚ and accrued expenses. Calculate depreciation and amortization expense using various methods. Distinguish between revenue and capital expenditures‚ and the entries associated with each. Business
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* * * By acquiring another company in the same industry first and merging with another * * organization a board of directors may succeed in higher earnings‚ giving their intensity of * * Industry experience and acquaintance however some possible disadvantages flourish. Company * * should examine all the aspects of this probable approach and acquisitions as well as the * * following disadvantages: Short- term financial consequences will be the most
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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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According to Service Request SR-ht-003‚ We were to develop a design for a fleet truck maintenance database‚ located on the Huffman Trucking IT Service Requests site. This paper will talk about how our team completed the Change Request that was on the Huffman Trucking Service Request. First our team will talk about how Microsoft Access was used to create these tables by Huffman Trucking Database. Then how we used the tables with made up information to be tested on. Then on how we used forms in the maintenance
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is not easy as they would be considering factors such as cost. In this study we will use Information Technology to help Bollozos Trucking lessen their problems in their Accounting area by offering a computerized payroll system. The purpose of this system is to minimize the time required in computing the payrolls and lessen the errors. Bollozos Trucking is associated with transporting feeds from suppliers to the feed mills based in Batangas‚ Lipa city owned by Thelma Bollozos. The business
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Vertical Balance Sheet 2006 2005 2004 ASSETS Current Assets Cash On Hand $ 1‚895 $ 1‚900 $ 1‚900 Petty Cash 250 250 250 Checking Account 39‚595 32‚557 16‚557 Inventory - Groceries 10‚985 11‚381 10‚629 Inventory - Liquor 6‚825 7‚284 6‚548 Inventory
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