Your company entered into a transaction and as accountant, you identify that the transactions involves accountable...
Your company entered into a transaction and as accountant, you identify that the transactions involves accountable and non-accountable event, what would you do with this transaction?
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Your company entered into a transaction and as
accountant, you identify that the transactions involves accountable...
LO4. How do you analyze a transaction? a) In your own words, what is transaction? b)...
LO4. How do you analyze a transaction? a) In your own words, what is transaction? b) Which accounts would be affected by each of the following transactions and identify if the account would increase or decrease. i) The business receives cash from John Jones in exchange for capital Example: Cash (Increase) and Jones, Capital (Increase) ii) The company paid cash for land iii) Performed services for clients on account iv) Purchased Office Supplies on account
You are the management accountant at your local Sports Centre. Identify a range of appropriate non-financial...
You are the management accountant at your local Sports Centre. Identify a range of appropriate non-financial performance indicators for the centre which, when taken in conjunction with traditional financial indicators, would provide a comprehensive assessment of performance.
Journalize the following business transactions in general journal form. Identify each transaction by number. You may...
Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) 1. Owner invested $60,000 in exchange for common stock of the corporation. 2. Hired an employee to be paid $400 per week, starting tomorrow. 3. Paid two...
Journalize the following business transactions in general journal form. Identify each transaction by number. You may...
Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Owner invested $62,500 in exchange for common stock of the corporation 2. Hired an employee to be paid $300 per week, starting tomorrow. Paid two years' rent in...
Journalize the following business transactions in general journal form. Identify each transaction by number. You may...
Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transaction (Credit account titles are automatically Indented when amoune is entered. Do not Indent manually. If no entry is required, select "No Entry"for the account titles and enter for the amounts.) Owner invested $58,500 in exchange for common stock of the corporation Hired an employee to be paid $400 per week, starting tomorrow. Paid two years' rent in advance. $7.400....
Accountable plan.To be an accountable plan, your reimbursement or allowance arrangement must require your employees to...
Accountable plan.To be an accountable plan, your reimbursement or allowance arrangement must require your employees to meet all three of the following rules. 1.They must have paid or incurred allowable expenses while performing services as your employees. The reimbursement or advance must be payment for the expenses and must not be an amount that would have otherwise been paid to the employee as wages. 2.They must substantiate these expenses to you within a reasonable period of time. 3.They must return...
Journalize the following business transactions in general journal form. Identify each transaction by number. You may...
Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) 1. 2. 3. 4. 5. The owner, Mai Li, invests $40,000 in cash in starting a real estate office operating as a sole proprietorship. Purchased $500 of...
You are employed as an accountant for Innovative Computing. Your company is in the process of...
You are employed as an accountant for Innovative Computing. Your company is in the process of signing a large contract with an electronics components supplier. You have a friend who works for the electronics components supplier, and you are aware of the company having trouble paying bills. You ask to review the financial statements of the supplier. 1. Would you report this to your employer before the purchase? 2. What are the four basic financial statements and what do they tell you...
Assume that you are the Financial Accountant of a newly started business from your chosen in...
Assume that you are the Financial Accountant of a newly started business from your chosen in August 2020 FIRST ASSIGNMENT (1) Step 1 – Analyze Business Transactions (Accounting Cycle) You are requested to assume the chosen business transactions during the month of August 2020 and analyze it by shown the impact of these transactions on the accounting equation! SECOUND ASSIGNMENT (2) Step 7 Accounting Cycle – Prepare Financial Statements You are requested using the information of Step 1 to prepare...
You are employed as an accountant by a new company called Refresh Ltd. The company was...
You are employed as an accountant by a new company called Refresh Ltd. The company was incorporated on 1 July 2018 and is now trying to raise some new equity. By 31 July 2018, applications had been received for 6,000,000 shares. On 10 August 2019, 5,000,000 shares were allotted in proportion to the number of shares for which applications had been made. The excess application money was retained and offset against the amount payable on allotment. As the accountant of...
LO4. How do you analyze a transaction? a) In your own words, what is transaction? b) Which accounts would be affected by each of the following transactions and identify if the account would increase or decrease. i) The business receives cash from John Jones in exchange for capital Example: Cash (Increase) and Jones, Capital (Increase) ii) The company paid cash for land iii) Performed services for clients on account iv) Purchased Office Supplies on account
Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Owner invested $62,500 in exchange for common stock of the corporation 2. Hired an employee to be paid $300 per week, starting tomorrow. Paid two years' rent in...
Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transaction (Credit account titles are automatically Indented when amoune is entered. Do not Indent manually. If no entry is required, select "No Entry"for the account titles and enter for the amounts.) Owner invested $58,500 in exchange for common stock of the corporation Hired an employee to be paid $400 per week, starting tomorrow. Paid two years' rent in advance. $7.400....
Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) 1. 2. 3. 4. 5. The owner, Mai Li, invests $40,000 in cash in starting a real estate office operating as a sole proprietorship. Purchased $500 of...
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