Thomas Company manufactures cargo containers. The container sells for $120 units. Company
expects to sales 450 containers in the first quarter and increases the sales by 20% for each
Prepare the sales budget for the year.
MODULE 1: INTRODUCTION TO FINANCIAL STATEMENTS
Identify the users and uses of accounting.
Explain the meaning of generally accepted accounting principles
Explain the meaning of the monetary unit assum
Module 1: Exercise
IMA standard exercise.
Ex 1. Evaluate the following independent situation according to the four ethical standards:
confidentiality, credibility, competence and integrity.
1) Maram is in charge of recording information about cash receipt
MODULE 2 - JOB ORDER COSTING
XYZ Company had the following balances at December 31, 2014.
Work In Process
Finished Goods Inventory
Estimated manufacturing cost
Estimated direct labor cost
Krisanne Company reports the following operating results for the month of June 2017.
To increase net income, management is considering reducing the selling price by 10%,
with no changes to unit variable costs or fixed costs. Management
Example:- ABC Co. manufacture flotation vests. Company contribution margin income
statement for the month ended December 31, 2011 contains the following data:ABC Company
For the month ended December 31, 2011
YANBU UNIVERSITY COLLEGE
Name & ID: _
Name & ID: _
Name & ID: _
Name & ID: _
Due date: Week 7 ( 6 August 2015)
Identify each responsibility center as a cost center, a profit center or investment center.
1. The bakery department of a Public supermarket reports income for the current year.
2. Pace foods is a subsidiary of Campbell soup.
3. The personne
The Factory Information:
The factory is build to be one of the national factories that manufacture and
sell the consumption products to different types of customers. The
customers have been targeted include adult women and men. The
Introduction and location :
Small business. Started operating on 2,November,2014. Our
company produced Accessories and Crochet. We sale our products
on glamour shop in Dana-mall. We sale different kind of
accessories such as Bracelet , Pendant and many. A
1) Ending Balance Calculation:
Raw Material :
M0= 60% * Dl
60% * 200,000 = 120,000
ACCT110 : MODULE 3
Explain the revenue recognition principle and the expense
Differentiate between the cash basis and the accrual basis of
ACCT110 - MODULE
Explain what an account is and how it helps in the recording process.
Define debits and credits and explain how they are used to record business
1. Current Assets:
* They are assets that a company expects
convert to cash or use up within one
year or within
its operating cycle.
* Operating cycle = time period between
purchase of an asset and its sale.
MODULE 4: COMPLETION
1. Explain the purpose of worksheet.
2. Enter and complete the worksheet.
3. Prepare financial statements from the
4. Describe the nature and purpose of the
adjusted trial balance
ACCT110 : MODULE 6
Reconciliation procedure In reconciling the bank account, it is customary to reconcile
the balance per books and balance per bank to their adjusted (correct or true) cash balances.
To obtain maximum benefit from a ba
CHAPTER 5: INTERNAL CONTROL AND CASH
Define internal control.
Identify the principles of internal control.
Describe the operation of a petty cash fund.
Prepare bank reconciliation.
A fraud is a dishonest act b
ACCT 110: Module 6
1. Define fraud and internal control
2. Identify the principles of internal control
3. Explain the application of internal control
principles to cash receipt.
We Hold is a professional moving company established in 2013 by four smart friends
(Saudi co' ).
we will hold everything that you want and we will take care of :
Time - We understand that there is never enough time when moving house, our prof
Project Cover Sheet
SECTION : _
INSTRUCTION FOR SUBMISSION OF HARD COPY (PRINT) PROJECT REPORT
1. Read and sign your cover sheet.
2. Attach this sheet to the front of your assi