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DiscussionSection_5_20090612

# DiscussionSection_5_20090612 - Introduction to Financial...

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Click to edit Master subtitle style  9/22/09 Introduction to Financial Accounting UGBA102A Discussion Section 5   June 12, 2009

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9/22/09 (1) Midterm Review Section Date :   Sunday June 14, 2009 Time : 9:00AM-12:00PM Location : C125 (2) Practice problems posted Announcements
9/22/09 1. Review of chapter 5 and chapter 6 2. Summary of chapter 7 and chapter 8 3. Problem/case solutions Agenda

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9/22/09 Chapter 5 & 6 The Operating Cycle and Merchandising Operations &  Inventories Cost of Goods Sold Management Choices in Accounting for Inventories Inventory Processing  Systems Periodic Perpetual Application of Matching Rule Inventory Costing  Methods Specific  identification Average-cost FIFO LIFO Inventory Valuation Methods Cost Market Cost of Goods Available for Sale Ending Inventory
9/22/09 Chapter 7 & 8 Cash and Receivables & Current Liabilities and Fair Value Accounting Interest   Principal * Rate * Time Principal *  Factor Discrete Compounding n:  Compounding frequency r:  Nominal annual interest rate t:   Number of years Continuous Compounding

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9/22/09 Please turn in your homework before we  start working on the solutions
9/22/09 Problem:  P7-1.1&2&3 Prepare a bank reconciliation for Unique Globe, Inc as of May 31, 2010 Prepare the entries in journal form necessary to adjust the accounts. Problems : P7-1   Solution:  P7-1.1&2&3

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9/22/09 Problem:  P7-1.4 Why is bank reconciliation considered an important control over cash?
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DiscussionSection_5_20090612 - Introduction to Financial...

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