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Unformatted text preview: of Materials & Supplies 7,000
7,000 Yearend Accruals
Expenses – Interest 400 Expenses – Mechanics Wages 500 Expenses – Indirect Labor 150 Expenses – Superintendent’s Salary 175 Expenses – Office Salaries 175 Accrued Interest Payable
Accrued Salaries & Wages Payable 400
1,000 CAEF Financial Statements
CAEF Financial Statements Statement of Net Assets (balance sheet format)
Statement of Revenues, Expenses, and Changes in Net Assets
Statement of Cash Flows 1 2 3 Central Stores Fund
Central Stores Fund Used to centralize purchasing and warehousing operations
Enhances economy, efficiency, and control
Holds inventory until requested by departments
Billings based on direct inventory cost plus overhead factor CSF Inventory Acquisition
CSF Inventory Acquisition
Inventory of Supplies &
Vouchers Payable 20,000
20,000 Perpetual Inventory Procedures
Perpetual Inventory Procedures Department submits stores requisition
Storekeeper issues request...
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This note was uploaded on 02/22/2013 for the course ACCT 324 taught by Professor Jones during the Spring '13 term at Texas A&M.
- Spring '13