balance out- standing is received. Cookie Creations receives a check for the amount due from the neighborhood school for the class given on November 30. Cookie Creations receives $750 in advance from the local school board for five classes that the company will give during December and January. Pays the cell phone invoice outstanding at November 30. Issues a check to Natalie’s brother for the amount owed for the design of the website. Receives a deposit of $60 on a cookie class scheduled for early
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5 – BALANCE SHEET AND INCOME STATEMENT -Identify the different financial statements (BS*‚ IS‚ Statement of Stockholders’ Equity‚ and related notes) -Identify the different components of the BS (Assets: current and long term; Liabilities: current and long term; stockholders’ equity: preferred stock‚ common stock‚ PIC‚ treasury stock) -Identify the different component of the IS (Gross profit‚ earnings before interest and taxes‚ interest expense‚ income tax expense‚ income from continuing operations
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Danielle N Sandlin Module 2- Activity 2.6 25 January 2015 1. In which ways do smartphones help these companies be more profitable? To what extent are improvements in performance coming from revenue increases or cost reduction? Provide several examples from the case. It is very clear that increased technology has benefited these companies in several ways. For the Magellan Program a benefit is that they are no longer wasting valuable man hours sending general technicians to job sites unprepared‚
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Module 1 & 2 Journal Module 1: Driving is Your Responsibility: Complete the K-W-L information below. K- What you Know Discuss two things you know about driving. 1. I know that you have to have your seatbelt on when and while you are driving. 2. That you have to have your hands on the wheel at ten and two. W—What you Want to know Discuss two things you want to know about driving. 1. If you get stuck at a green light and it is green and there is a cop and you are in the middle of the road what
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Income statement: In the case of sole proprietary and partnership concerns there are no prescribed forms of the income statement and balance sheet. Their preparation is also desirable but not compulsory. However‚ they are generally prepared. In the case of trading concern‚ a trading account and in the case of a manufacturing concern‚ a manufacturing account and a trading account can also be prepared. In such a case‚ the account heading is mentioned as follows: Manufacturing/trading and profit and
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Module 2 reflection journal Module 1: Driving is Your Responsibility: Complete the K-W-L information below. K- What you Know Discuss two things you know about driving. 1. That it is unsafe to not pay attention to the road while driving. 2. Driving is a big responsibility. W—What you Want to know Discuss two things you want to know about driving. 1. I want to know how to be a defensive driver. 2. I want to know how to be safe on the road. L—What you Learned Discuss at least two
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Research Problem 2 How Are These Fees Determined? Card processors normally charge taxpayers for convenience fees when they use their credit or debit card to pay taxes. Fees vary but average about 2.5 percent of the tax payment (IRS.gov). Are These Fees Themselves Deductible? Explain. Credit and debit card convenience fees charged for paying federal individual income taxes are deductible as miscellaneous itemized deductions subject to the 2% floor for taxpayers who itemize (RIA 16181 Tax Liability)
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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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ACC501: COMPUTERISED ACCOUNTING TUTORIAL 4 DISCUSSION QUESTIONS i. ‘Why are adjusting entries necessary? Surely they cause too much delay in preparing financial statements‚ and the financial effect of any entries made is immaterial in the long run.’ Respond to this criticism. ii. The owner of a business reviews the income statement prepared by you and asks‚ “Why do you report a profit of only $30 000 when cash collections of $100 000 were received and cash payments for the period totalled only
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M2. Case Analysis: Employee Attitudes Module 2 1. Which of Schwartz’s 10 values are driving the behavior of managers at Bain & Company‚ Home Depot‚ and Best Buy? Provide examples to support your conclusions. Bain’s management is driven by he Schwartz’s values of power and self- direction. In a downturn‚ he chose to go against the grain and take advantage of the situation‚ hiring people instead of laying off which allows him to snatch up recently unemployed or underemployed quality candidates
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