Assignment

Assignment BUS3061 Fundamentals of Accounting Instructions: Accounts to be used: Cash. Prepaid insurance. Land. Buildings. Equipment. Accounts payable. Unearned service revenue. Owner's capital. Owner's drawings. Service revenue. Advertising expense. Salaries and wages expense. May 1 Invested $20,000 cash in the golf course business. May 3 Purchased Hampstead Golf Land for $15,000 cash. The price includes land $12,000, shed $2,000, and equipment $1,000. May 5 Paid advertising expenses of $700. May 6 Paid ...

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Assignment

Assignment Assignment Transactions Justin Malone: Invested $54,000 in cash to start the business. Paid $3,000 for 3 month's rent. Bought a used automobile for the firm for $16,000 in cash. Performed services for $3,000 in cash. Paid $400 for automobile repairs. Performed legal services for $3,750 on credit. Borrowed $25,000 from the local bank to help expand his business. Purchased office ...

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Arthur Anderson Case

ARTHUR ANDERSON CASE Arthur Anderson: Questionable Accounting Practices” Arthur Anderson: Questionable Accounting Practices Review the mandated requirements for legal compliance (from chapter 4) and determine which requirements apply to the Arthur Anderson case. There are five categories that separate the mandated requirements for legal compliance. Two directly apply to the Arthur Anderson ...

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Accounting Analysis

Accounting Analysis Fundamentals of Accounting Fundamentals of Accounting Orange CompanyIncome StatementFor the Years Ended December 31 2013 2012 Net Sales (all on account) $600,000 $520,000 Expenses: Cost of Goods Sold $415,000 $354,000 Selling and Administrative $120,800 $114,800 Interest Expense $7,800 $6,000 Income Tax Expense $18,000 $14,000 Total Expenses $561,600 $488,800 Net Income $38,400 $31,400 Additional Data: The common stock recently sold at $19.50 per ...

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Accounting Analysis

ACCOUNTING ANALYSIS Fundamentals of Accounting Fundamentals of Accounting Introduction Compare the ratios, and answer the following questions Ratio Year 1 Year 2 Current ratio 3.12:1 2.96:1 Quick ratio 1.34:1 1.02:1 Receivables turnover 9.7 times 10.2 times Inventory turnover 2.4 times 2.3 times Profit margin 11.4% 12.6% Asset turnover 1.21 times 1.22 times Return on assets 13.7% 15.4% Return on equity 28.5% 29.3% Price-earnings ratio 10.4 times 12.4 times Debt ratio 50.2% 45.3% Times interest earned 9.6 times 13.0 times What does the calculation of each ratio represent? How does year one compare ...

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Tax Assignment

Tax assignment [Name of teacher] Tax assignment 8. The key tax issue that needs to be considered by helping people Inc is that it would be subject to federal income tax. But as the company is labeled as an exempt entity it would be required to maintain the same status of being an exempt ...

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Accounting For Managers

Accounting for Managers Executive Summary Budgeting is an extremely important process for the entire organization, but also complex and involves the whole organization. Since the effectiveness of planning depends on the development, profitability and market position of the company. It survival often depends on the skill of the course changes and remodelling ...

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Assignment Of Accounting Theory

ASSIGNMENT OF ACCOUNTING THEORY Modern Medical LTD Letter of Transmittal or memorandum [Students name] [Lecturer] [Department] [University] Subject: Dear Sir, We feel immense pleasure in presenting you the assignment as part of our course requirement. We found this report to be truly challenging in many aspects and indeed very interesting in relation ...

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Management Accounting

MANAGEMENT ACCOUNTING Management Accounting Management Accounting Answer 1 It was important for Michael Woods to stipulate his four criteria for the business because it gave him the general guideline in stating up his own business. Since, it was mentioned in the initial paragraphs of the case study that Michael was disappointed ...

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Advance Corporate Accounting

ADVANCE CORPORATE ACCOUNTING Advance Corporate Accounting Advance Corporate Accounting Billabong The word billabong is taken from Australian English which means small Lake, i.e. a lake adjacent to river cut off due to change in the watercourse. However Billabong International is an Australian clothing company that is traded on Australian Stock Exchange since august 2000. ...

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