What is Accounting?
accounting can be defined as an information system that provides
reports to users about the economic activities and condition of a
language of business. This is because accounting is the means by
which businesses' fi
What is Accrual Basis of Accounting?
Revenues and expenses are reported in the period in which they are earned or incurred;
also called Accounting Period Concept
Another, less popular, system is Cash Basis of Accounting
What is Revenue Recogniti
How to complete an accounting cycle:
Adjusted Trial Balance Income Statement (produce: net income) Retained Earning
Statement (use net income and dividends, produce new retained earnings) Balance
Sheet (directly from adjusted trial balance)
What is an Account?
a separate record of increases and decreases for each element of
has 3 parts (T Accounts): name of the account (on top), debit (right
side), credit (left side)
each account follows the Rule of Debit & Cred
Which of the following accounts will usually appear in the post-closing trial balance?
a. Accounts Payable
b. Accumulated Depreciation
c. Cash Appears
d. Common Stock
Does Not Appear
f. Depreciation Expense Does Not Ap
Name: Nguyen Le
Instructor: Prof. France
Class: English 1A (8 AM)
Sherry Turkles article, Growing Up Tethered from Rereading America,
discusses about the problem of the new generation that has been tied to technology
and social media
English 1A (8 AM)
An Unknown World Of Network
Nowadays, nobody can deny the convenience and utility of Internet. The fastpaced technological developments, especially in this new century, give people more and
Name: Nguyen Le
Class: BUS 10
Instructor: Prof. Altantsetseg Erdenebaatar
VIS is a start-up coffee and bakery retail establishment located in the center of Castro
Valley in California. VIS
1. The branch of economics that examines the economy as a whole is called
2. The study of how to increase resources and to create the conditions that will make better use
of those resources is called
_ Resource development.
3. The first
Selling products to another country is called
2. America purchases over fifty percent of its crude oil and petroleum products from other
countries. This is an example of
3. What takes place when goods and services can be traded
1. If a business's expenses exceed its revenues, the business operates at a(n)
2. A business owner takes the chance of losing time and money invested in a business if it becomes
unprofitable. This is referred to as _ and is an important considerati
Psychology 1A: Introduction to General Psychology (3 Units)
Fall 2016 Berkeley City College CCN 42346
Instructor: Christopher Gade, PhD
Office HRs: Wednesdays 10:00-11:30
Email: [email protected]
Location: 3412 Tolman Hall (On UC Berkeley Campus)
Prepare a production budget For the small and large sca1es for the month ended May 31, 21115.
For the Month Ending Mawr 31, 2015
Expected unit: to be sold
Total units In be produced
Prepare a schedule Indicating cash payments For selling and administrative expenses For October, November, and December.
Excel Learning Systems Inc.
Schedule of Cash Payments for Selling and Administrative Expenses
For the Three Months Ending December 31,
Sell or Prooess Further
Bunyan Lumber Company incurs a cost of $386 per hundred board feet in processing certain “rough-cut" lumber, which it sells for $550 per hundred board feet. An alternative is to pmduoe a “ﬁnished
cut" at a natal processing cost of
1. Prepare quarterly income statements showing income from opelatlons for the three divisions. Use three column headings: East, West, and Centlal. Round your interim calculations to two
decimal places, if required.
Traxonia Railroad Inc.
Div ional Income
Prepare divisional lnoome statements for DeSalvo tonsil-notion Company.
DeSalvo Construction Ii2on'|:lan'5|r
Divisional Income Statements
For the Year Ended June 33. 2014
W m W am
a: E) g,
a; E; E!
a: E) g,
a; :51 E!
a: E) g,
m i i
It is estimated that 15% of the cost oF goods sold represents ﬁxed factory overhead cosls and that 21% of the opelating expenses are ﬁxed. Since Royal Cola is only one of many products, tl'i:
costs will not be materially affected if the product is disoonﬂ
Differential Analysis for a Lease or Sell Decision
Sure-Bilt Construction Company is considering selling ems machinery with a book value of $281,200 (original cost of $400,600 less accumulated depreciation of $119,400} for $276,700, lws a 5%
Train Those Brains Assignment
In the Train those brains points that the student needs the knowledge not mental skills to
work after graduate. Jascha Doker believes that student will take an easy to find a job on campus. In
Response to Capitalism in America
This article discusses the capitalistic nature of the US over the course of time. The author
acknowledges the fact that there is wealth disparity between the middle working class and big
AFTER YOU HAVE READ AND STUDlED THIS CHAPTER, YOU SHOULD BE ABLE TO
Deﬁne marketing, and apply the marketing concept to both
for-proﬁt and nonproﬁt organizations.
Describe the four P5 of
Trade Protectionism: the use of gov't regulations to limit import
Mercantilism: sell more than buy
Tariffs: taxes on imports
- Protective tariffs: taxes to keep domestic goods more competitively priced
- Revenue tariffs: raise money for the government
Doing Business in Global Market
The Dynamic Global Market
Learning Objective One
Why is a global market important?
No country is self sufficient
Natural Resource and technological skills are not evenly dispersed