will I am sure be of interest not only to our student audience but as a refresher to those of you in practice that may be required to deal with this concept. In most businesses debtor balances represent an important element of working capital. Accounting principles dictate that the supply of goods or services is accounted for as sales‚ at the point at which the buyer has a legal obligation to pay for them. Total debtors represent the value of credit sales for which payment has yet to be received
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Chapter 2 Cost Terms‚ Concepts‚ and Classifications Exercise 2-2 (15 minutes) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10 . 11 . 12 . 13 . 14 . 15 . Depreciation on salespersons’ cars ................ Rent on equipment used in the factory .......... Lubricants used for machine maintenance ..... Salaries of personnel who work in the finished goods warehouse.............................. Soap and paper towels used by factory workers at the end of a shift ...................... Factory supervisors’ salaries
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User Requirements To create a system that is easy to use and learn to use‚ A system that will work on an average home computer with Microsoft access‚ One that is secure and will be backed up to prevent the loss of data. It should be quick and easy to update any information about a member or coach‚ for example any payments needing made‚ any payments received‚ or any medical information about the players. Players should be automatically allocated to the club when they have passed the medical.
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PART A 1. Buying a new PC. Low Yat Plaza in Jalan Bukit Bintang is a well-known place for computer sales. Assume that you want to buy a new PC for your personal use. Your task is to: i. Make a list of your hardware and software requirements‚ be as specific as possible. (For software‚ you must at least choose 1 type of operating system and 3 application programs.) HARDWARE * CPU (Central Processing Unit): responsible for handling all instructions it receives from hardware components
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The company I have chosen is Denbighshire county council. I have received a letter from them and I have collected leaflets as well as looking on their website to adopt their house style. The house style of the Denbighshire documents would be that they all have the same colours on them‚ the colours being green‚ blue and white. These have been the colours of the company since the beginning of the council when it first came around in 1996. The design may have changed slightly over the years‚ but the
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Evaluation of a letter this documentation was produced specially to cordially invite a group of people within an organisation to the newly open resort park ’cypress valley’; in a professional manner. To make usr4e that my letter was accurate and flaunt I have used Microsoft word in this was it could help with the way my letter will be presented and delivered and during this work I have learnt how to use mail merge and interpretative this into my work in order for it to look professional. I
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Accounting Homework Individual Chapter 7 Question 1&2 1. (a) What are generally accepted accounting principles (GAAP)? In the U.S.‚ generally accepted accounting principles‚ commonly abbreviated as US GAAP or simply GAAP‚ are accounting rules used to prepare‚ present‚ and report financial statements for a wide variety of entities‚ including publicly-traded and privately-held companies‚ non-profit organizations. (b)What bodies provide authoritative support for GAAP
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Objective 1. Determine the total considerations transferred. 2. The land and buildings should be recorded on the premise of “in-use” or “in-exchange”. 3. Determine the fair value recorded for the intangible assets. Applicable accounting pronouncement ASC 805-20-25 Business Combinations-Identifiable assets and liabilities and any non controlling interest-Recognition Recognition Conditions 25-2 To qualify for recognition as part of applying the acquisition method‚ the
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correct picture on the firm’s financial performance and financial position. We have to recognize all transaction occurring in that accounting period‚ irrespective of whether cash has been received or paid. The ultimate objective of adjusting entries is to ensure that the revenues (income) earned in the accounting period are matched by all costs incurred for that same accounting period (Monash College‚ 2011). Prepayment There are two types of adjusting entries‚ prepayments and accruals. Prepayment is
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Accounting and Finance Management Assignment 2 Semester: 3 Prepared by: Osoba Seun Student Number: Sc-Kl-00021763 Email Address: josher4real@yahoo.com Date submitted: 17/01/2014 Question 1 Sales Budget September ($) October ($) Budgeted sales (units) 9‚500 Selling price per unit $12 Total sales 90‚000 114‚000 Schedule of expected cash collections: October ($) Account
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