concept. b. monetary unit assumption. c. economic entity assumption. d. corporate form of ownership 2. All of the financial statements are for a period of time except the a. income statement. b. balance sheet c. owner’s equity statement. d. statement of cash flows 3. A trial balance will not balance if a. a journal entry is posted twice. b. a wrong amount is used in journalizing. c. incorrect account titles are used in journalizing. d. a journal entry is only partially posted. 4. In a service-type
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TITLE/PROBLEMS * Can peanut butter with seaweed extract be a main ingredient in making poisons for rats? * “Peanut-Weed Arsenic Poison” * “Peanut-Weed Rat Killer” RRS Why Do Poisons Matter? “Long after the 1962 publication of Rachel Carson’s book‚ Silent Spring‚ and the subsequent birth of the environmental movement‚ the days of concern over the effects of at-home and commercial pesticide use are long from over. Carson’s book described numerous environmental impacts of indiscriminate
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……………………………………………………………………………[10 marks] 2. “Decision making is the primary task of the management”. Discuss this statement and explain the process of decision making. [10 marks] ASSIGNMENT-2 1. What are the leadership qualities that you would look for in a manager? Distinguish between innate and acquirable qualities‚ with example. [10 marks] 2. “Budget making is primarily a planning process whereas its administration is part of controlling”. Elaborate. [10 marks]
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E12-1 (Classification Issues—Intangibles) Presented below is a list of items that could be included in the intangible assets section of the balance sheet. Instructions (a) Indicate which items on the list would generally be reported as intangible assets in the balance sheet. (b) Indicate how‚ if at all‚ the items not reportable as intangible assets would be reported in the financial statements. 1. Investment in a subsidiary company. 2. Timberland. 3. Cost of engineering
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Summary Purposes of the Balance Sheet 1. A balance sheet‚ or statement of financial position‚ summarizes the financial position of a company at a particular date by reporting the economic resources (assets)‚ the economic obligations (liabilities)‚ and equity. It reports a company’s resource structure (major classes and amounts of assets) and its financial structure (major classes and amounts of liabilities and equity). It is a detailed explanation of the basic accounting equation: Assets =
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Acid-Base Titration Pre-Lab Discussion In the chemistry laboratory‚ it is sometimes necessary to experimentally determine the concentration of an acid solution or a base solution. A procedure for making this kind of determination is called an acid-base titration. In this procedure‚ a solution of known concentration‚ called the standard solution‚ is used to neutralize a precisely measured volume of the solution of unknown concentration to which one or two drops of an appropriate acid-base
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Chapter: 12 Problem: 10 Start with the partial model in the file Ch12 P10 Build a Model.xls on the textbook’s Web site‚ which contains the 2013 financial statements of Zieber Corporation. Forecast Zeiber’s 2014 income statement and balance sheets. Use the following assumptions: (1) Sales grow by 6%. (2) The ratios of expenses to sales‚ depreciation to fixed assets‚ cash to sales‚ accounts receivable
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Sample Balance Sheet: Example Company Balance Sheet December 31‚ 2011 ASSETS | | | LIABILITIES | Current assets | | | Current liabilities | | | Cash | $ 2‚100 | | | Notes payable | $ 5‚000 | | Petty cash | 100 | | | Accounts payable | 35‚900 | | Temporary investments | 10‚000 | | | Wages payable | 8‚500 | | Accounts receivable - net | 40‚500 | | | Interest payable | 2‚900 | | Inventory | 31‚000 | | | Taxes payable | 6‚100 | | Supplies | 3‚800
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1. A NSF check should appear in which section of the bank reconciliation? (Points : 2) Addition to the balance per books. Deduction from the balance per bank. Addition to the balance per bank. Deduction from the balance per books. | 2. A consequence of separation of duties is that (Points : 2) theft by employees becomes impossible. operations become extremely inefficient because of constant training of employees. more employees will need
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P3-1 a) Cash Yasunari Kawabata D.D.S. Capital Sept 1 20‚000 Sept. 4 680 Sept 19 3‚000 Sept. 1 20‚000 Sept 8 1‚690 Sept. 5 942 Sept. 30 6‚007 Sept 20 980 Sept. 10 430 23‚007 Sept. 18 3‚600 Sept. 19 3‚000 Accounts Payable Sept. 30 1‚800 Sept 18 3‚600 Sept. 2 17‚280 Sept. 30 85 Sept. 30 13‚680 Sept. 30 Bal 12‚133
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