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Financial Accounting
Champlain Career Consulting Corporation Accounting Case Study #1
Requirement #1
Adjusted Trial Balance
Champlain Career Consulting Corporation
Adjusted Trial Balance
31-Dec-12
Debit
Credit
Cash & Cash Equivalents
$ 115,950
Accounts Receivable [net]
$ 81,000
Prepaid Insurance
$ 2,000
Inventory
$ 4,000
Equipment
$ 50,000
Accumulated Depreciation
$ 25,500
Building
$ 290,000
Accumulated Depreciation
$ 21,750
Accounts Payable
$ 34,500
Salary Payable
$ 7,500
Unearned Revenue
$ 19,600
Utilities Payable
$ 300
Income Taxes Payable
$ 9,000
Dividends Payable
$ 10,000
Mortgage
$ 140,000
Common Shares
$ 150,000
Retained ...
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Discussion Assignment: Week 4 Accounting Course
Discussion Assignment: Week 4 Accounting Course
Question No. 1
The current liabilities are that portion of liabilities that are required to be met within the given time period or one complete operating cycle of the business. The concept of current liabilities emphasizes on the settlement of ...
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Review of Accounting Ethics
Review of Accounting Ethics
Introduction
The foundation of civilized society is based on the ethical values and without these values; the civilized society can fall rapidly. The main purpose of ethics in business is directing men and women to obey code and conducts that encourages the people to have ...
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Week Four Exercise Assignment
Question # 1
LP partnership 19X7
Partnership Formation Journal Entry
Debit Credit
Cash
$30,000
Land
$80,000
Levy Capital
$110,000
Cash
$50,000
Equipment
$20,000
Parcells
$70,000
Question # 2 a
Brookhaven Publishing
Payroll Entry February
Debit
Credit
Salary Expense $ 50,000
Social Security taxes
$ 3,300
Medicare taxes
$ 1,950
Federal income taxes withheld
$ ...
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Accounting Analysis
Accounting Analysis Report on Snags Limited
Accounting Analysis Report on Snags Limited
Introduction
Stock prices are one of the most important indicators of a company's performance and its future. It determines the picture of the company in the markets as well as, among the investors. If the stock price of ...
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ACCOUNTABILITY
Accountability, Representation & Control
Accountability, Representation & Control
Introduction
The report deals with the financial reporting concerns drawn down by the writer in the article. In this report we will analyzing the financial reporting concerns and how it affects the overall performance of the company and the trust and information base of its ...
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ACCOUNTING PRACTICES IN MALAYSIA AND UK
Accounting Practices in Malaysia and UK
Accounting Practices in Malaysia and UK
Introduction
A difference in the accounting systems around different boundaries of the country is a phenomenon that has attracted attention of various scholars and invited researchers to focus of this area. Such a concept ...
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FEASIBILITY ANALYSIS
Feasibility Analysis
Business Plan: Home Improvement Retailer
Section 1
1.0: Executive Summary
The main theme of this report is to conduct a Customer Feasibility Analysis Report for Home Improvement Retailer located in Cardiff Wales. The name of the business is Classified Home Improvement Retailer - CHIR. This company will furnish products ...
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Accounting Exercises
Accounting Exercises of Chapter 2 and 3
Chapter 2
Exercise 1
Issuance of Stock
A
Date
Items
Debit
Credit
X-X-13
Cash
2000000
Common Stock at Par
100,000
Paid in capital in Excess of Par
1,900,000
B
Date
Items
Debit
Credit
X-X-13
Cash
2000000
Common Stock at $5
500,000
Paid in capital in Excess of $5
1,500,000
C
Date
Items
Debit
Credit
X-X-13
Cash
2000000
Common Stock
2000000
Chapter 2
Exercise 3
Analysis of stockholders' equity
A
Cash
$604,000
Price per share
$104
Number of preferred stock issued
5569.536424
B
Number of common stock sold
792324.2468
Price ...
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Accounting
Accounting Assignment
Answer 1: Basic Accounting Equations
Asset (A)
Expense (E)
Liabilities (L)
Asset (A)
Revenue (R)
Asset (A)
Asset (A)
Expense (E)
Answer 2: Basic balances Sheet computations
a. Determine Rossi's total assets as of December 31
Rossi Enterprises
December 31st
Cash 7,400
Accounts Receivable 14,800
Current Assets
22,200
Building
30,000
Land 18,000
Fixed Assets
48,000
Total Assets
70,200
b. Determine ...