Tài liệu Khối Ngành Kinh Tế

Purchases of merchandise are debited to Inventory. Freight-in is debited to Inventory. Purchase returns and allowances and purchase discounts are credited to Inventory. Cost of goods sold is debited and Inventory is credited for each sale. Subsidiary records show quantity and cost of each type of inventory on hand.

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Direct shows major classes of gross cash receipts and cash payments Difference is net cash provided by, used in, operating activities Indirect starts with net income (loss) and adjusts for revenues and expenses that did not cause changes in cash FASB encourages use of the direct method

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Tasanee was the accounts receivable clerk for a large non-profit foundation that provided performance and exhibition space for the performing and visual arts. Her responsibilities included activities normally assigned to an accounts receivable clerk, such as recording revenues from various sources that included donations, facility rental fees, tick...

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Chart of accounts Chronological order Compound entry Double-entry accounting General journal Journal Journalizing Opening Entry

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Angela Bauer was an accounts payable clerk for Aggasiz Construction Company. She prepared and issued checks to vendors and reconciled bank statements. She perpetrated a fraud in this way: She wrote checks for costs that the company had not actually incurred (e.g., fake taxes). A supervisor then approved and signed the checks. Before issuing the che...

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Advances to officers and employees. Advances to subsidiaries. Deposits paid to cover potential damages or losses. Deposits paid as a guarantee of performance or payment. Dividends and interest receivable. Claims against: Insurance companies for casualties sustained; defendants under suit; governmental bodies for tax refunds; common carriers fo...

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Computes interest on principal and interest earned that has not been paid or withdrawn. Typical interest computation applied in business situations.

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A Big Hiccup JIT can save a company a lot of money, but it isn’t without risk. An unexpected disruption in the supply chain can cost a company a lot of money. Japanese automakers experienced just such a disruption when a 6.8-magnitude earthquake caused major damage to the company that produces 50% of their piston rings. The rings themselves cost o...

69 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 632 | Lượt tải: 1

The period for which results are summarized are known as the accounting period or the fiscal period. The income statement is prepared on accounting paper with two money columns. The income statement heading answers Who, What, and When? The balance will reflect a net income or net loss.

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Compare the figures on the trial balance with the account balances to verify that the correct amounts have been listed on the trial balance and that they were placed in the proper money columns. Omitting a transaction completely. Debiting or crediting the wrong accounts. Entering the amount of a transaction incorrectly. Entering the same trans...

16 trang | Chia sẻ: huyhoang44 | Ngày: 24/03/2020 | Lượt xem: 494 | Lượt tải: 0