Accounting for Bad Debts
THE BIG PICTURE
emember back in Chapter 5 where you learned
about closing the books? Pretty boring and
tedious, right? But necessary all the sameor is it?
Canadian accounting softwa
Tuesday, January 19, 2016
Accounting Information System
Total assets = Total Liability + Shareholders equity
Accounting information system
o System of collecting and processing transaction data and communicating
Exercise 13-2 (15 minutes)
Common Stock, No-Par Value.
Issued common stock for cash.
Common Stock, $12 Par Value*.
Paid-In Capital in Excess of Par Value,
Exercise 16-10 (40 minutes)
Statement of Cash Flows (Indirect Method)
For Year Ended June 30, 2009
Cash flows from operating activities
Adjustments to reconcile net income to net cash
provided by operat
Exercise 11-1 (10 minutes)
Exercise 11-5 (30 minutes)
Maturity date = November 1 + 180 days = April 30, 2010.
x Interest rate.
x Fraction of year (Nov. 1 Dec. 31).
Exercise 10-1 (15 minutes)
Invoice price of machine.
Less discount (.01 x $10,400).(104)
Net purchase price.
Freight charges (transportation-in). 235
Mounting and power connections.719
Materials used in adjusting. 4
Done by : Elmore & AAKI Partnership
Copyrights to Spain For Ever
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Basic Partnership Accounting
: Partnership Accounting
! . Partner Capital . Use capital account to each partner (1
!.( ) Invest Capital
!. Partner Withdrawals . Use withdrawals
Accounting for Property,
Plant, Equipment, and
THE BIG PICTURE
magine a company that started business in Canada
about 75 years ago. Assume that the companys
business is something that need
Interest Rates, Bond Valuations knnnnnnnnnkkkkkkkkk
Bond: Debt security
Face Value (par value): Principal repaid at the end of the term
Coupon rate: Annual coupon(s) amount divided by face value
Coupon payment: Regular interest pay