Faculty of Business Studies BE-210 TMA-1 DUE DATE 26th December Part A: Essay Questions (25) 1. Define accounting. Accounting is the information system that measures business activity‚ progress the data into reports and communicates the results to decision makers. And accounting is the language of business. The better you understand the language of business the better you can manage your own business. For example‚ how will you decide whether or not to borrow money? You
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Work in Process Inventory | Bal. | 50‚250 | (4) | 118‚810 | | Bal. | 75‚600 | (9) | 267‚684 | (2) | 104‚980 | | 36‚420 | | (4) | 116‚696 | | | Bal. | 36‚420 | | | | (5a‚8) | 79‚200 | | | | | | | | (8) | 99‚000 | | 102‚812 | Finished Goods Inventory | | Bal. | 102‚812 | | | Bal. | 155‚400 | (10b) | 232‚602 | | | | | | (9) | 267‚684 | | 190‚482 | | | | | | Bal. | 190‚482 | | | | |
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Exercises for Chapter 1 1. Ming started a business with $3‚000 cash. He used $1‚200 of the cash to buy office equipment. (a) Find the assets‚ capital and liability of Ming’s business. Assets: Cash ($1‚800) & Office equipment ($1200) Capital: $3‚000 Liability: $0 (b) What is the amount of total resources in Ming’s business? A. $3‚000 B. $6‚000 C. $1‚800 D. $4‚800 2. ‘Total assets must equal to total capital plus total liability.’ Do you agree? Why? Yes‚ resources owned by a firm (assets) must be either
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Minda Furgeson Week 6 Acc/290 problem 4-8 Dana La Fontsee opened Pro Window Washing Inc. on July 1‚ 2012. During July the following transactions were completed. July 1 Issued 12‚000 shares of common stock for $12‚000 cash. July 1 Purchased used truck for $8‚000‚ paying $2‚000 cash and the balance on account. July 3 Purchased cleaning supplies for $900 on account. July 5 Paid $1‚800 cash on 1-year insurance policy effective July 1. July 12 Billed customers $3‚700 for cleaning services. July 18
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Module 3 Accounting Adjustments and Constructing Financial Statements DISCUSSION QUESTIONS Q3-1. The fiscal year is the annual accounting period that a firm adopts. A firm that uses December 31 as its year-end is on a calendar-year basis. Traditionally‚ fiscal years that end in January through the end of May‚ are labeled as the prior calendar year. For example‚ a fiscal year ending January 31‚ 2010 would be labeled fiscal 2009 because the bulk of the operations occurred in calendar 2009
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Question 1- Analyze the following transaction under traditional approach. 18.1.2011 Received a cheque from a customer‚ Sanjay at 5 p.m. Rs.20‚000 19.1.2011 Paid Ramu by cheque Rs.1‚50‚000 20.1.2011 Paid salary Rs. 30‚000 20.1.2011 Paid rent by cheque Rs. 8‚000 21.1.2011 Goods withdrawn for personal use Rs. 5‚000 25.1.2011 Paid an advance to suppliers of goods Rs. 1‚00‚000 26.1.2011 Received an advance from customers Rs. 3‚00‚000 31.1.2011 Paid interest on loan Rs. 5‚000 31.1.2011 Paid
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ChaNoel A. Torres Acevedo Intermediate Accounting I Homework: Exercise 3-1: Apr. | 2 | Cash | 30‚000 | | | | Equipment | 14‚000 | | | | Christine Ewing‚ Capital | | 44‚000 | | | | | | | 2 | No entry—not a transaction. | | | | | | | | | 3 | Supplies | 700 | | | | Accounts Payable | | 700 | | | | | | | 7 | Rent Expense | 600 | | | | Cash | | 600 | | | | | | | 11 | Accounts Receivable
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questions: 1. “During the 1980s‚ BAL was the undisputed scooter king.” Examine the factors that‚ according to you‚ contributed to the near iconic status of the Bajaj/Chetak brand? (16 marks) < Answer > “By early 2000s BAL lost its title of India’s largest two-wheeler company.” Was BAL unprepared for the challenges particularly with respect to consumer satisfaction‚ technological innovation‚ competition etc.? Justify. (15 marks) < Answer > “By early 1990s it was clear that BAL had no future in the scooters
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Asymptotic Functions: Big-O notation: The formal method of expressing the upper bound of an algorithm’s running time (worst case) Big-Omega notation: The formal method of expressing the lower bound of an algorithm’s running time (best case) Theta Notation: The method of expressing that a given function is bounded from both top to bottom by the same function This exists if and only if f(n) is O(g(n)) and f(n) is Ω(g(n)) Little-O notation:
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Table of contents Title Page Acknowledgements Aims of the Project Description of the business simulated List of transactions Books of Original Entry: * The General Journal * Purchases Journal * Sales Journal * Returns Outwards Journal * Returns Inwards Journal * Cash Book * Petty Cash Book The ledgers: * Purchases Ledger * Sales Ledger * General Ledger Trial Balance Trading and Profit and Loss Account Balance Sheet Interpretation of Results:
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