|1 |The time period assumption states that |D | | |a. a transaction can only affect one period of time. | | | |b. estimates should not be made if a transaction affects more than| | | |one time period. | | | |c. adjustments to the enterprise ’s accounts can only be made in | | | |the time period when the business terminates its operations. | | | |d. the
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QUIZ CHAPTER 3 ACTG 500 BE 161 Prepare adjusting entries for the following transactions. Omit explanations. 1. Depreciation on equipment is $800 for the accounting period. 2. There was no beginning balance of supplies and purchased $500 of office supplies during the period. At the end of the period $80 of supplies were on hand. 3. Prepaid rent had a $1‚000 normal balance prior to adjustment. By year end $600 was unexpired. Solution 161 |1 |Depreciation Expense
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Adjusting To the College Life Adjusting to the college life and be hard and also a great learning experience. Adjusting to living in a dorm is the main adjustment a student will make. The stress level as a student can be a rude adjustment for most college students. Last but not lease balancing freedom with responsibility. Going to college and living in a dorm is a living and learning experience. Sharing a floor could sometimes bring problems with sharing showers‚ washers and dryers. One key thing
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Adjusting Entries – Examples Let’s work with some examples. We are working with a one year accounting period that ends on 12/31/X2. Let’s use a three step process. Step 1 – Analyze the transaction. Step 2 – Record in the journal. Step 3 – Post to the ledger. Example 1: On 12/31/X2 (before the adjusting process)‚ Supplies‚ an asset‚ has a balance of $2‚500. Employees take a physical account of the supplies on hand. That physical count reveals that $1‚200 of supplies remains. Step 1 ‐‐ The balance
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about to sail to the New World from Spain on your old reliable ship. You wonder what you are going to find and what you are going to do if you meet any Native Americans. Then you think about the past‚ and in the past what has happened when cultures collide to get you to that day. So what happens when cultures collide? Is it always battles? do new cultures always form? The advances of technology help reach new cultures like how the compass and caravel helped get to the New World. Then when Christopher
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Adapting to a New Culture Adjusting to a new government‚ similar to adjusting to a new culture requires learning and adapting to new rules and norms. Dealing with this kind of change comes with new lessons‚ new understandings of life and new perspectives. Individuals have to learn things from scratch‚ learn to understand the culture and most importantly‚ people have to stop making assumptions. Moreover‚ a new culture requires a new level of open-mindedness. This is not always an easy process
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Composition 09 December 2012 Adapting to a New Culture As an immigrant we are faced with the fear of forgetting our culture‚ it’s values‚ and the root or our origins. We have to deal with the guilt of leaving our beloved land of birth behind and emerging in a new homestead with all of its uncertainties and cultural changes. Empathy invading us as we fail to comprehend if these adjustments in our life will transform our identities as we strive to adapt and conquer this new journey. Most likely there will be
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University I have been asked by my supervisor to mentor a new accounting clerk in my department‚ I am hoping that when I’m done mentoring this person that they will understand accounting better. I am also hoping that my supervisor will be proud of me‚ and continue asking me to mentor new people‚ and hopefully give me a raise or a promotion. To better understand accounting we need to know why adjusting entries are so important to a business. Adjusting journal entries are made at the end of each closing
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Adjusting Entries Yvenie Desire ACCT205-1203A-11 June 9‚ 2012 Adjusting Entries Welcome to the company and as an accounting clerk for the department you will be working a lot with the accounting department and with me. I will be mentoring you on certain aspect of accounting and what needs to be done. First we’ll get started with why adjusting entries are necessary. “Adjusting entries ensures that the correct amount of revenues and expenses are recorded in a specified time period.” (Editorial
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Adjusting to Terrorism CJ 454 October 31‚ 2012 Adjusting to Terrorism Before September 11‚ 2001 many Americans did not think about a terrorist threat on a daily basis. The thought of a terrorist attack seemed like something that happens only in third world‚ war torn countries. The terrorist attacks on American soil that day made the idea of a terrorist attack very real. September 11‚ 2001 not only made average citizens think about the threat of terrorist attacks but the American government
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