Exercise 13.3 Preparing a classied income statement. L013-1
The worksheet ot Bridget's Ofce Supplies contains the following revenue, cost, and expense accounts.
The merchandise inventory amounted to $53,115 on January 1, 2015, and $51,125 on December 31,
a. During the year 2015, Johnson ICompany had net credit sales of $1,050,000. Past experience shows
that 0.5 percent of the rm's net credit sales result in uncollectible accounts.
b. Equipment purchased by IIZIhu Consultancy for $30,080 on January 2, 2015
Exercise 12.1 Determining the adjustments for inventory. LO 12-1
The beginning inventory of a merchandising business was $120,000, and the ending inventory is $101,619.
What entries are needed at the end of The scal pen'od to adjust Merchandise inventory?
Exercise 12.? Recording adjustments for accrued and deferred income items. LD12-3
a. On December 31, 2016, the Notes Receivable account at Manton Materials had a balance of $19,500,
which represented a six-month, 10 percent note received from a customer o
Exercise 12.5 Recording adjustments for accrued and prepaid expense items. L012-2
On December 31, 2015, the Notes Payable account at Eleths Boutique Shop had a balance of $50,400. This
amount represented tunds borrowed on a six-month, 12 percent note from
Case Study: Severance Pay
Laurier Company in the recent past, acquired Western Company and discharged 20 of Western
companys employees. When Laurier Company dismissed these employees they were told they
would receive the same weeks of severance as their o
Internal Audit & Controls
Chapter 5, Case 1 Pizza Inc.
Monday or Tuesday
1. ONLY answer the questions for the receive customer (cash) orders process.
2. Answers that address all the business processe
Who We Are
We are Strictly Business, a team of
businessmen and woman with a
passion for fashion and business.
Why Costa Rica?
Costa Rica is the best choice
because of the political
stability, high amount of
tourism, and high standard of
Competitiveness- meeting wants & needs of customers relative to others that offer similar goods. Strategy & Productivity. The design has to meet the service of the customer. Can we make the product
reliable w/ good cost. Location is important w/service co
The capability of a system to perform its expected function. The upper limit or ceiling on the load that an operating unit can handle. Overcapacity operating costs that are too high. Under capacity
strained resources and possible loss of customers. Design
Planning: conscious, systematic process of making decisions about goals and activities that a work unit will pursue in the future. Situational
analysis: A process planners use, within time and resource constraints, to gather, interpret, and summarize all
CLOUD ACCOUNTING SOFTWARE
I would recommend Xero to my CEO as the new Cloud Computing
Accounting Software to replace my companys current software.
Cloud computing is quickly becoming the way of the futu
1 Applying IT to accounting systems: financial accounting, managerial accounting, auditing, and taxation Financial accounting: non-financial data, real-time reporting, interactive data and XBRL; (external)
provide relevant info, investors, creditors, fina
Auditing and Assurance Services, 16e (Arens/Elder/Beasley)
Chapter 3 Audit Reports
3.1 Learning Objective 3-1
1) Which of the following is a correct statement regarding the standard unmodified opinion audit report?
D) The scope paragraph includes a statem
Assignment 4: forecasting (Due date Final Exam date)
For the two companies you have chosen, using the latest year of data available:
1) Forecast next years financials for both companies. Make a recommendation on which company
is expected to perform better
OMB Approved No. 29000009
Respondent Burden: 15 minutes
wDepartment Of Veterans Affairs
DISABLED VETERANS APPLICATION FOR VOCATIONAL REHABILITATION
(Chapter 31, .Title 38, U. S. C. )6?
. . I I - .V- g
1. FIRST. MIDDLE. LAST NAME OF VETERAN 2. SOCIAL SECUR
COURSE OUTLINE OF RECORD
Number: ACCT A102
ORIGINATOR: Arabian Morgan
FORMERLY KNOWN AS:
CROSS LISTED COURSE:
TITLE: Managerial Accounting
EFF TERM: Fall 2014
TOP NO: 0502.00
CID: ACCT 120
SEMESTER UNITS: 4.0
HRS LEC: 90
Management Accounting Study Guide for Exam 2
Here are some thoughts about the second exam (Chapters 7-8). This is meant to be a help, but it is not
guaranteed to be all-inclusive.
1. Explain the advantages of a well-constructed budget
2. Explain human fac
1. Describe budgetary control and static budget reports. Budgetary control consists of (a)
preparing periodic budget reports that compare actual results with planned objectives, (b)
analyzing the differences to determine their causes, (c) taking appropria
Managerial Accounting Chapter 23 Quiz
1. Budget development for the coming year usually starts
a. the first month of the year to be budgeted.
b. several months before the end of the current year.
c. the last month of the previous year.
d. a year in advanc
Jury Holds Ernst & Young Liable For Madoff Losses
JORDAN D. MAGLICH SATURDAY, NOVEMBER 14, 2015 AT 9:55AM
A Washington jury has found accounting firm Ernst & Young ("E&Y") liable for at least $10 million of
Econ 189: Business Law & Ethics in Accounting
University of California Santa Barbara
Winter 2017 Syllabus
Douglas E. Kulper
North Hall 3050
Office Hours: T/Th 5:00 6:30 pm
Class Meeting Information
And Then There Were 3? Three Trials Over
Financial Firm Audits Loom for Big Four Firm PwC
Posted on August 14, 2016 by Jerri-Lynn Scofield
By Jerri-Lynn Scofield has worked as a securities lawyer and a derivatives trader.
One so-called unintended conseque
Problem Set 11
1. (10%) Selling life insurance to senior citizens is a business with an
enormously powerful adverse selection problem: People who are ill or in
poor health sign up for this sort of insurance. A natural response to this,
used extensively by
Heres What Troubles Me about DWPs Cases against PwC
07 July 2016
PERSPECTIVE-As reported by the Los Angeles Times, PricewaterhouseCoopers (PwC) faces allegations of
billing fraud. Unlike the earlier version of the complaint filed by the City
Office: NH 2028
hartman (at) econ.ucsb.edu1
All office hours below are offered every week after classes start, except on holidays and finals week, unless
specified otherwise. You are welcome and encouraged to come to any
Test 1, Form A
October 17, 2016
YOU WILL TURN IN YOUR SCANTRON AND THE PROBLEMS PAGE. MAKE SURE ALL
WORK AND ANSWERS ARE PROVIDED ON THESE. BUBBLE IN YOUR TEST FORM,
NAME, AND PERM NUMBER ON YOUR SCANTRON.
You have 40
Test 1 Solution
Note for multiple-choice questions: choose the closest answer.
Exam date: 17 October 2016
Econ 134A, John Hartman
1. SAIR compounding conversion
3. Constant principal reduction
Principal reduction is per period (mont
$2,558,700 / 1,300,000= 1.968 multiply by 30,000 tons of mineral = 59046.92 = 60,000
(Rounded to the dollar)
Ex: $220,000 divided by 5, then times 2 to get the 2/5.
- You will get $88,000. As Depreciation and Accumulated Depreciation.
- Now subtract $88,0