UNIVERSITY OF THE EAST College of Business Administration-Manila UESONs’ PRE-MIDTERM EXAM -FUNDAMENTALS OF ACCOUNTING 1&2- NAME: ___________________________ SECTION: ___________ CELL LEADER: ______________________ WS: ___ CG: ___ SS: ___ DIRECTION: Write your FINAL ANSWERS on the ANSWER SHEET provided. USE CAPITAL LETTERS. NO ERASURES! NO CHEATING! 1. | 26. | 51. | 76. | 2. | 27. | 52. | 77. | 3. | 28. | 53. | 78. | 4. | 29. | 54. | 79. | 5. | 30. | 55. |
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Chapter 2 Review of the Accounting Process AACSB assurance of learning standards in accounting and business education require documentation of outcomes assessment. Although schools‚ departments‚ and faculty may approach assessment and its documentation differently‚ one approach is to provide specific questions on exams that become the basis for assessment. To aid faculty in this endeavor‚ we have labeled each question‚ exercise and problem in Intermediate Accounting‚ 7e with the following
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trading‚ clearing‚ settlement and depository services (Dahmash‚ N.‚ 1995). There are numerous sectors listed under Bursa Malaysia; consumer products‚ technology‚ trading/services‚ industrial products‚ construction‚ plantation and more. Here in this paper‚ the discussion is focused on Zhulian Corporation Berhad‚ which is consumer product. The name Zhulian is originated from Chinese characters which means rapid growth and far sighted in the business contexts (www.zhulian.com). Zhulian was started
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Patton-Fuller Financial Statement Review Marlyn Aguirre Kristy Borowicz Carrie "Shellie" Cobbs Jessica Wilson Health Care Financial Accounting HCS 405 Robert Hammer November 05‚ 2013 Patton-Fuller Financial Statement Review Understanding how finance affects business is essential to the success and longevity of the business. How a business earns its income‚ raises money‚ and how a business pays its bills and invests in the businesses future affects the financial growth of the company. The process
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Serial Bond Debt Service Fund Journal Entries and Financial Statements. As of December 31‚ 2010‚ New Town had $9‚500‚000 in 4.5 percent serial bonds outstanding. Cash of $509‚000 is the debt service fund’s only asset as of December 31‚ 2010‚ and there are no liabilities. The serial bonds pay interest semiannually on January 1 and July 1‚ with $500‚000 in bonds being retired on each interest payment date. Resources for payment of interest are transferred from the General Fund and the debt service
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business concern. Simply‚ ratio means the comparison of one figure to other relevant figure or figures. According to Myers ‚ “Ratio analysis of financial statements is a study of relationship among various financial factors in a business as disclosed by a single set of statements and a study of trend of these factors as shown in a series of statements." Advantages and Uses of Ratio Analysis There are various groups of people who are interested in analysis of financial position of a company. They
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hriffi Fair value accounting in IFRS financial statements Considerable attention is currentiy being given to the use of fair vaiues and fair value accounting in financiai statements prepared under internationai Financiai Reporting Standards. This month’s coiumn ciarifies what is meant by fair value accounting and when iFRS require or allow its use. It also identifies the circumstances in which IFRS requires the use of fair value in the application of the historical cost model. In IFRS
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Stand and Deliver “Stand and Deliver” is such an exceptional inspiring movie. I have learned a lot about the importance of a true commitment in order to achieve our goals. Mr. Escalante’s‚ the Math teacher in Garfield High School‚ devotion is a good example to validate this statement. Mr. Escalante is very much dedicated to his work; energetic‚ passionate teacher and wanted to change the poor performing history of the underprivileged and disrespectful students in Garfield High school. Escalante
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Abstract GAAP requires company to disclose accounting policy in their financial reports. These policies provide relevant information to decision makers on choices taken by executives. Financial statements are the final product of accounting process. Income statement provides data for investment and other decisions. The net income is essentially the common income statement form‚ consisting of classifications such as income from continuing operations‚ discontinued operations‚ extraordinary items
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internal controls instead. none will cause the trial balance not to balance‚ even though mistakes have occurred this is an internal allocation transaction that does not involve an external party (all the other transactions involve an external party) both accounts receivable (asset)‚ and Service revenue (equity) increase here There is no cash involved in this transaction accrual accounting recognizes revenue when earned and expenses when incurred in earning that revenue (irrespective of when cash is
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