This document is a chapter from a Cambodian university textbook on accounting. It introduces accounting as the language of business and discusses the basic principles and steps of the accounting process. The learning objectives are to understand what accounting is, how it is used in business, how accounting data is organized and summarized in financial statements, and how the financial statements are used. The chapter then explains the steps in the accounting cycle, including recording transactions, classifying accounts, summarizing data, and preparing key financial statements like the income statement and balance sheet.
This document provides financial information for Nordic Company over a 3 month quarter including:
1) Expected cash collections from sales totaling $221,000 for the quarter.
2) Inventory purchases budget totaling $143,400 for the quarter to meet a projected cost of goods sold of $147,000 plus ending inventory of $9,000.
3) A cash budget showing projected cash balances, collections, purchases, expenses and financing activities resulting in an ending cash balance of $8,400 for the quarter.
This document outlines the Income Tax Rules of 1984 in Bangladesh. It provides definitions for key terms used in the rules. It details requirements for various types of professionals including doctors, lawyers, accountants, auditors, architects and engineers to maintain case registers, payment books and receipt books to record income and expenses related to their profession. It also covers rules related to tax deduction at source, tax collection, filing of returns, refunds, recognition of associations, and other procedural aspects of income tax administration. The document provides forms and rules for a wide range of income tax related compliance requirements.
The Income tax rules 1984 updated up to July 2018 Masum Gazi
The document summarizes rules from the Income Tax Rules, 1984 regarding the maintenance of accounts by certain professionals including doctors, lawyers, accountants, auditors, architects and engineers. It provides formats for a Case Register (Form A1 and A2) and Payments Book (Form B) that these professionals must use to record details of cases, fees received, and payments made. The rules require maintaining records of patient/client names, nature of treatment/cases, fees charged and received, and payments in the specified formats for tax purposes.
This document summarizes a journal article about the role of non-fuel retailing services in India's petroleum retail industry. It finds that petroleum retailers in India face challenges like low margins and increasing costs, and are offering additional non-fuel services like convenience stores and ATMs to increase customer loyalty and profits. A survey of 100 customers found that strategic location, quality assurance, and infrastructure/amenities were important factors for customers visiting particular gas stations. Most customers still prefer paying in cash, and evenings are a popular time to visit. Non-fuel services like ATMs are attracting some additional customers and sales to gas stations, though not all ATM users purchase other items. Regulations have gradually liberalized fuel pricing in
The document discusses making data accessible and available in multiple formats to generate new business ideas and revenue streams. It encourages exploring new sources of easy to access data and staying ahead of the curve by continually adding more data. The overall goal is to leverage data as a commodity for profitable opportunities.
El documento describe los conceptos clave de la gerencia de proyectos de tecnología educativa. Define un proyecto como una secuencia de eventos con un inicio y fin destinados a lograr un objetivo claro dentro de parámetros como tiempo, costo y calidad. Explica que el rol principal del gerente de proyectos es la planificación, organización, selección de personal, ejecución y control de operaciones. También destaca que las fases, controles y responsabilidades claramente definidos garantizan el ciclo de vida exitoso de un proyecto.
This document provides financial information for Nordic Company over a 3 month quarter including:
1) Expected cash collections from sales totaling $221,000 for the quarter.
2) Inventory purchases budget totaling $143,400 for the quarter to meet a projected cost of goods sold of $147,000 plus ending inventory of $9,000.
3) A cash budget showing projected cash balances, collections, purchases, expenses and financing activities resulting in an ending cash balance of $8,400 for the quarter.
This document outlines the Income Tax Rules of 1984 in Bangladesh. It provides definitions for key terms used in the rules. It details requirements for various types of professionals including doctors, lawyers, accountants, auditors, architects and engineers to maintain case registers, payment books and receipt books to record income and expenses related to their profession. It also covers rules related to tax deduction at source, tax collection, filing of returns, refunds, recognition of associations, and other procedural aspects of income tax administration. The document provides forms and rules for a wide range of income tax related compliance requirements.
The Income tax rules 1984 updated up to July 2018 Masum Gazi
The document summarizes rules from the Income Tax Rules, 1984 regarding the maintenance of accounts by certain professionals including doctors, lawyers, accountants, auditors, architects and engineers. It provides formats for a Case Register (Form A1 and A2) and Payments Book (Form B) that these professionals must use to record details of cases, fees received, and payments made. The rules require maintaining records of patient/client names, nature of treatment/cases, fees charged and received, and payments in the specified formats for tax purposes.
This document summarizes a journal article about the role of non-fuel retailing services in India's petroleum retail industry. It finds that petroleum retailers in India face challenges like low margins and increasing costs, and are offering additional non-fuel services like convenience stores and ATMs to increase customer loyalty and profits. A survey of 100 customers found that strategic location, quality assurance, and infrastructure/amenities were important factors for customers visiting particular gas stations. Most customers still prefer paying in cash, and evenings are a popular time to visit. Non-fuel services like ATMs are attracting some additional customers and sales to gas stations, though not all ATM users purchase other items. Regulations have gradually liberalized fuel pricing in
The document discusses making data accessible and available in multiple formats to generate new business ideas and revenue streams. It encourages exploring new sources of easy to access data and staying ahead of the curve by continually adding more data. The overall goal is to leverage data as a commodity for profitable opportunities.
El documento describe los conceptos clave de la gerencia de proyectos de tecnología educativa. Define un proyecto como una secuencia de eventos con un inicio y fin destinados a lograr un objetivo claro dentro de parámetros como tiempo, costo y calidad. Explica que el rol principal del gerente de proyectos es la planificación, organización, selección de personal, ejecución y control de operaciones. También destaca que las fases, controles y responsabilidades claramente definidos garantizan el ciclo de vida exitoso de un proyecto.
This document provides an overview of a lesson on essay writing. It begins by explaining the four key aspects of mastering any language: writing, reading, listening, and speaking. It then discusses the structure of an essay, including the introduction, body, and conclusion. It provides learning objectives which are to recap previous lessons, define what an essay is and its purpose, structure, how content is selected, different types of essays, and how to identify parts of an essay. Key points for writing an essay are outlined such as selecting a topic, writing an introduction, organizing ideas with clear sentences and paragraphs. Examples of analyzing essay topics are also provided.
Rethinking Annual Performance as WorkshopsEric Tachibana
Each year millions of line managers do performance reviews with each member of their team. Reviews are tricky, risky, and difficult to run as structured conversations, which is how they have always been run. This deck proposes that managers replace conversations with workshops, which are easier to run, generate more insights, and less likely to cause bad feelings as focus turns from attack-defend to collaborative problem solving.
Ideablob.com is a website where entrepreneurs and small business owners can share their business ideas and have a chance to win $10,000 by getting votes from the ideablob.com online community, which includes other innovators as well as friends, family, colleagues, associates, teachers and mentors. Individuals submit their ideas and one idea each month is selected as the winner of the $10,000 prize based on the number of votes received.
Getting Started - Creating products and services that make life betterSagar Arlekar
Foodlets Team at SVS College of Management Studies, Goa.
An interactive session where we shared the Foodlets story and engaged with the students on different aspects of Entrepreneurship and how to look for opportunities around.
Leveraging Social Media to Engage Alumni presented to Johns Hopkins UniversityGoody PR and Goody Awards
This social media marketing training deck is a high level overview of how you can leverage social media (Facebook, Twitter and YouTube) to engage alumni that was presented by Liz H Kelly, Goody PR & Goody Awards Founder, to the Johns Hopkins University Alumni Council on the Homewood Campus in Baltimore, MD,
October 2013. Liz is based in CA, a graduate of the Johns Hopkins Carey Business School, worked for Fox Interactive Media/MySpace, and has managed $million advertising campaigns for clients such as Toyota, University of Phoenix and Southern California Edison. If you'd like to discuss how to leverage social media for your business with an engagement strategy and compelling content, email liz AT goodypr DOT com.
DTEK50 secure smartphone powered by Android combines BlackBerry’s unique security, privacy, and productivity with device design, specs, and an accessible price point for professionals and ideal for enterprise deployments. This Buyer’s Guide describes DTEK50’s slim, sleek design, robust specs, and key features, such as: BlackBerry Intelligent Keyboard, the 5.2” display, BlackBerry Hub, Convenience Key, Stunning Camera, DTEK, and other great, best-in-class security features, plus access to the world’s largest app ecosystem.
English food is known for being hearty, simple dishes influenced by Britain's colonial history. Traditional British desserts and puddings include posset, jam roly-poly, spotted dick, summer pudding, bread and butter pudding, sponge cake, crumble, apple pie, treacle tart, gypsy tart, Eton mess, trifle, and Christmas pudding. Black tea and coffee were introduced in the 17th/18th centuries and became very popular. Traditional British drinks also include cream tea, cappuccino, frappuccino, and hot chocolate.
El documento proporciona información para los apoderados de los estudiantes de Segundo Año A sobre los requerimientos y actividades de la próxima semana en el Colegio Camilo Henríquez. Se detallan los materiales que los estudiantes deben traer para cada asignatura, así como también las fechas y horarios de atención de los profesores. El lunes se celebrará el Día del Libro con actividades como un desfile de disfraces con temática literaria e intercambio de libros.
For more classes visit
www.snaptutorial.com
What are the differences between variable and absorption costing? Why is variable costing not allowed for GAAP reporting? Which method is more useful for internal decision making? Why? As a manager, which would you prefer? Why?
Đề tài Biện pháp nâng cao hiệu quả kinh doanh tại công ty xăng dầu b12-xí ngh...Thư viện Tài liệu mẫu
Tải file tài liệu tại Website: inantailieu.com hoặc sdt/ ZALO 09345 497 28
Khóa luận Biện pháp nâng cao hiệu quả kinh doanh tại công ty xăng dầu b12-xí nghiệp xăng dầu quảng ninh
For more classes visit
www.snaptutorial.com
What are the differences between variable and absorption costing? Why is variable costing not allowed for GAAP reporting? Which method is more useful for internal decision making? Why? As a manager, which would you prefer? Why?
The document discusses accounting principles related to completing the accounting cycle. It includes objectives, a review of worksheets and closing books, exercises on adjusting entries, and sample adjusted trial balances. The exercises guide the preparation of adjusting entries, income statements, and owner's equity statements from accounting information.
For more classes visit
www.snaptutorial.com
What are the differences between variable and absorption costing? Why is variable costing not allowed for GAAP reporting? Which method is more useful for internal decision making? Why? As a manager, which would you prefer? Why?
Đề tài Một số giải pháp nhằm nâng cao hiệu quả hoạt động kinh doanh của công ...Thư viện Tài liệu mẫu
Tải file tài liệu tại Website: inantailieu.com hoặc sdt/ ZALO 09345 497 28
Khóa luận Một số giải pháp nhằm nâng cao hiệu quả hoạt động kinh doanh của công ty tnhh thương mại và vận tải hưng phát
This document provides a financial plan for RG Food Product, a sole proprietorship business producing chowmin. The owner, Rajdeep Ghosh, has invested Rs. 9 lakh of capital. The management team will initially consist of Rajdeep and two employees. Legal agreements will be made for the business location. Financial projections include a capital structure, projected profit and loss statement, cash flow statement, and balance sheet for the first year. Key ratios like profit volume, break-even point, operating leverage, and financial leverage are also calculated.
Archer Daniels Midland Company (ADM) is one of the largest agricultural processors in the world with operations in 60 countries. It processes crops like corn, wheat, soybeans, and cocoa into food ingredients, animal feed, renewable fuels and industrial products. In 2007, ADM achieved record earnings of $2.2 billion on $44 billion in sales, driven by strong commodity pricing and sales volumes. ADM is positioning itself to be a global leader in bioenergy by expanding its ethanol and biodiesel production capacity in the US and Brazil through new plants and technology research partnerships.
This chapter discusses responsibility accounting, quality control, and environmental cost management. It covers topics such as using responsibility accounting to measure the performance of departments, different types of responsibility centers, preparing performance reports, cost allocation, activity-based responsibility accounting, behavioral effects of responsibility accounting, segmented reporting, total quality management, cost of quality, ISO 9000 quality standards, and environmental cost strategies.
For more course tutorials visit
www.newtonhelp.com
What are the differences between variable and absorption costing? Why is variable costing not allowed for GAAP reporting? Which method is more useful for internal decision making? Why? As a manager, which
Group Case 1 Part 1 Schedules of Cost of Goods Manufactured and C.docxshericehewat
Group Case 1
Part 1: Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement
Nish Corporation has provided the following data for the month of April:
Sales...............................................
$220,000
Raw materials purchases ...............
$50,000
Direct labor cost ............................
$23,000
Manufacturing overhead cost ........
$59,000
Selling expense..............................
$18,000
Administrative expense .................
$43,000
Inventories:
Beginning
Ending
Raw materials ........
$26,000
$35,000
Work in process.....
$18,000
$22,000
Finished goods.......
$42,000
$29,000
Required:
a. Prepare a Schedule of Cost of Goods Manufactured in good form for April.
b. Prepare an Income Statement in good form for April.
Part 2: Application of Job Order Costing
Scanlon Company has a job-order costing system and applies manufacturing overhead cost to products on the basis of machine-hours. The following estimates were used in preparing the predetermined overhead rate for the most recent year:
Machine-hours...............................
95,000
Manufacturing overhead cost ........
$1,710,000
During the most recent year, a severe recession in the company’s industry caused a buildup of inventory in the company’s warehouses. The company’s cost records revealed the following actual cost and operating data for the year:
Machine-hours.............................................................................
75,000
Manufacturing overhead cost ......................................................
$1,687,500
Amount of applied overhead in inventories at year-end:
Work in process........................................................................
$337,500
Finished goods..........................................................................
$253,125
Amount of applied overhead in cost of goods sold ..................
$759,375
Required:
a. Compute the company's predetermined overhead rate for the year and the amount of underapplied or overapplied overhead for the year.
b. Determine the difference between net operating income for the year if the underapplied or overapplied overhead is allocated to the appropriate accounts rather than closed directly to Cost of Goods Sold.
Part 3: Process Costing using Weighted Average
Timberline Associates uses the weighted-average method in its process costing system. The following data are for the first processing department for a recent month:
Work in process, beginning:
Units in process ........................................................
2,400
Percent complete with respect to materials ..............
75%
Percent complete with respect to conversion ...........
50%
Costs in the beginning inventory:
Materials cost ...........................................................
$8,400
Conversion cost ........................................................
$7,200
Units started into production during the month...........
20,800
Units completed and transfer ...
This document provides an overview of a lesson on essay writing. It begins by explaining the four key aspects of mastering any language: writing, reading, listening, and speaking. It then discusses the structure of an essay, including the introduction, body, and conclusion. It provides learning objectives which are to recap previous lessons, define what an essay is and its purpose, structure, how content is selected, different types of essays, and how to identify parts of an essay. Key points for writing an essay are outlined such as selecting a topic, writing an introduction, organizing ideas with clear sentences and paragraphs. Examples of analyzing essay topics are also provided.
Rethinking Annual Performance as WorkshopsEric Tachibana
Each year millions of line managers do performance reviews with each member of their team. Reviews are tricky, risky, and difficult to run as structured conversations, which is how they have always been run. This deck proposes that managers replace conversations with workshops, which are easier to run, generate more insights, and less likely to cause bad feelings as focus turns from attack-defend to collaborative problem solving.
Ideablob.com is a website where entrepreneurs and small business owners can share their business ideas and have a chance to win $10,000 by getting votes from the ideablob.com online community, which includes other innovators as well as friends, family, colleagues, associates, teachers and mentors. Individuals submit their ideas and one idea each month is selected as the winner of the $10,000 prize based on the number of votes received.
Getting Started - Creating products and services that make life betterSagar Arlekar
Foodlets Team at SVS College of Management Studies, Goa.
An interactive session where we shared the Foodlets story and engaged with the students on different aspects of Entrepreneurship and how to look for opportunities around.
Leveraging Social Media to Engage Alumni presented to Johns Hopkins UniversityGoody PR and Goody Awards
This social media marketing training deck is a high level overview of how you can leverage social media (Facebook, Twitter and YouTube) to engage alumni that was presented by Liz H Kelly, Goody PR & Goody Awards Founder, to the Johns Hopkins University Alumni Council on the Homewood Campus in Baltimore, MD,
October 2013. Liz is based in CA, a graduate of the Johns Hopkins Carey Business School, worked for Fox Interactive Media/MySpace, and has managed $million advertising campaigns for clients such as Toyota, University of Phoenix and Southern California Edison. If you'd like to discuss how to leverage social media for your business with an engagement strategy and compelling content, email liz AT goodypr DOT com.
DTEK50 secure smartphone powered by Android combines BlackBerry’s unique security, privacy, and productivity with device design, specs, and an accessible price point for professionals and ideal for enterprise deployments. This Buyer’s Guide describes DTEK50’s slim, sleek design, robust specs, and key features, such as: BlackBerry Intelligent Keyboard, the 5.2” display, BlackBerry Hub, Convenience Key, Stunning Camera, DTEK, and other great, best-in-class security features, plus access to the world’s largest app ecosystem.
English food is known for being hearty, simple dishes influenced by Britain's colonial history. Traditional British desserts and puddings include posset, jam roly-poly, spotted dick, summer pudding, bread and butter pudding, sponge cake, crumble, apple pie, treacle tart, gypsy tart, Eton mess, trifle, and Christmas pudding. Black tea and coffee were introduced in the 17th/18th centuries and became very popular. Traditional British drinks also include cream tea, cappuccino, frappuccino, and hot chocolate.
El documento proporciona información para los apoderados de los estudiantes de Segundo Año A sobre los requerimientos y actividades de la próxima semana en el Colegio Camilo Henríquez. Se detallan los materiales que los estudiantes deben traer para cada asignatura, así como también las fechas y horarios de atención de los profesores. El lunes se celebrará el Día del Libro con actividades como un desfile de disfraces con temática literaria e intercambio de libros.
For more classes visit
www.snaptutorial.com
What are the differences between variable and absorption costing? Why is variable costing not allowed for GAAP reporting? Which method is more useful for internal decision making? Why? As a manager, which would you prefer? Why?
Đề tài Biện pháp nâng cao hiệu quả kinh doanh tại công ty xăng dầu b12-xí ngh...Thư viện Tài liệu mẫu
Tải file tài liệu tại Website: inantailieu.com hoặc sdt/ ZALO 09345 497 28
Khóa luận Biện pháp nâng cao hiệu quả kinh doanh tại công ty xăng dầu b12-xí nghiệp xăng dầu quảng ninh
For more classes visit
www.snaptutorial.com
What are the differences between variable and absorption costing? Why is variable costing not allowed for GAAP reporting? Which method is more useful for internal decision making? Why? As a manager, which would you prefer? Why?
The document discusses accounting principles related to completing the accounting cycle. It includes objectives, a review of worksheets and closing books, exercises on adjusting entries, and sample adjusted trial balances. The exercises guide the preparation of adjusting entries, income statements, and owner's equity statements from accounting information.
For more classes visit
www.snaptutorial.com
What are the differences between variable and absorption costing? Why is variable costing not allowed for GAAP reporting? Which method is more useful for internal decision making? Why? As a manager, which would you prefer? Why?
Đề tài Một số giải pháp nhằm nâng cao hiệu quả hoạt động kinh doanh của công ...Thư viện Tài liệu mẫu
Tải file tài liệu tại Website: inantailieu.com hoặc sdt/ ZALO 09345 497 28
Khóa luận Một số giải pháp nhằm nâng cao hiệu quả hoạt động kinh doanh của công ty tnhh thương mại và vận tải hưng phát
This document provides a financial plan for RG Food Product, a sole proprietorship business producing chowmin. The owner, Rajdeep Ghosh, has invested Rs. 9 lakh of capital. The management team will initially consist of Rajdeep and two employees. Legal agreements will be made for the business location. Financial projections include a capital structure, projected profit and loss statement, cash flow statement, and balance sheet for the first year. Key ratios like profit volume, break-even point, operating leverage, and financial leverage are also calculated.
Archer Daniels Midland Company (ADM) is one of the largest agricultural processors in the world with operations in 60 countries. It processes crops like corn, wheat, soybeans, and cocoa into food ingredients, animal feed, renewable fuels and industrial products. In 2007, ADM achieved record earnings of $2.2 billion on $44 billion in sales, driven by strong commodity pricing and sales volumes. ADM is positioning itself to be a global leader in bioenergy by expanding its ethanol and biodiesel production capacity in the US and Brazil through new plants and technology research partnerships.
This chapter discusses responsibility accounting, quality control, and environmental cost management. It covers topics such as using responsibility accounting to measure the performance of departments, different types of responsibility centers, preparing performance reports, cost allocation, activity-based responsibility accounting, behavioral effects of responsibility accounting, segmented reporting, total quality management, cost of quality, ISO 9000 quality standards, and environmental cost strategies.
For more course tutorials visit
www.newtonhelp.com
What are the differences between variable and absorption costing? Why is variable costing not allowed for GAAP reporting? Which method is more useful for internal decision making? Why? As a manager, which
Group Case 1 Part 1 Schedules of Cost of Goods Manufactured and C.docxshericehewat
Group Case 1
Part 1: Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement
Nish Corporation has provided the following data for the month of April:
Sales...............................................
$220,000
Raw materials purchases ...............
$50,000
Direct labor cost ............................
$23,000
Manufacturing overhead cost ........
$59,000
Selling expense..............................
$18,000
Administrative expense .................
$43,000
Inventories:
Beginning
Ending
Raw materials ........
$26,000
$35,000
Work in process.....
$18,000
$22,000
Finished goods.......
$42,000
$29,000
Required:
a. Prepare a Schedule of Cost of Goods Manufactured in good form for April.
b. Prepare an Income Statement in good form for April.
Part 2: Application of Job Order Costing
Scanlon Company has a job-order costing system and applies manufacturing overhead cost to products on the basis of machine-hours. The following estimates were used in preparing the predetermined overhead rate for the most recent year:
Machine-hours...............................
95,000
Manufacturing overhead cost ........
$1,710,000
During the most recent year, a severe recession in the company’s industry caused a buildup of inventory in the company’s warehouses. The company’s cost records revealed the following actual cost and operating data for the year:
Machine-hours.............................................................................
75,000
Manufacturing overhead cost ......................................................
$1,687,500
Amount of applied overhead in inventories at year-end:
Work in process........................................................................
$337,500
Finished goods..........................................................................
$253,125
Amount of applied overhead in cost of goods sold ..................
$759,375
Required:
a. Compute the company's predetermined overhead rate for the year and the amount of underapplied or overapplied overhead for the year.
b. Determine the difference between net operating income for the year if the underapplied or overapplied overhead is allocated to the appropriate accounts rather than closed directly to Cost of Goods Sold.
Part 3: Process Costing using Weighted Average
Timberline Associates uses the weighted-average method in its process costing system. The following data are for the first processing department for a recent month:
Work in process, beginning:
Units in process ........................................................
2,400
Percent complete with respect to materials ..............
75%
Percent complete with respect to conversion ...........
50%
Costs in the beginning inventory:
Materials cost ...........................................................
$8,400
Conversion cost ........................................................
$7,200
Units started into production during the month...........
20,800
Units completed and transfer ...
This assignment is done for a small business with the addition of different accounting items the small business can use to maximize their profit.
It has Break-even point for the company. Sales revenue. Target profit maximization.
Cost classification of the company.
Acc 349 Effective Communication / snaptutorial.comHarrisGeorg3
What are the differences between variable and absorption costing? Why is variable costing not allowed for GAAP reporting? Which method is more useful for internal decision making? Why? As a manager, which would you prefer? Why?
This document contains summaries of 10 discussions for an ACC 349 class. It covers topics like the differences between variable and absorption costing, cost-volume-profit analysis, budgeting, standard costs, and more. Key terms discussed include variable costs, contribution margin, break-even point, flexible budgets, and problems with standard costs. The document directs students to a website for more class materials and information.
For more classes visit
www.snaptutorial.com
What are the differences between variable and absorption costing? Why is variable costing not allowed for GAAP reporting? Which method is more useful for internal decision making? Why? As a manager, which would you prefer? Why?
This document discusses financial statements for manufacturing companies. It notes that manufacturing companies have more complex financial statements than merchandising companies because they must account for production costs. Specifically, manufacturing companies track three types of inventory - raw materials, work in process, and finished goods. The document provides examples of common accounting entries for these inventory categories and how they are reported on key financial statements like the income statement and balance sheet.
ACC 601 Managerial Accounting Group Case 3 (160 points) .docxSALU18
ACC 601 Managerial Accounting
Group Case 3 (160 points)
Instructions:
1. As a group, complete the following activities in good form. Use excel or
word only. Provide all supporting calculations to show how you arrived at
your numbers
2. Add only the names of group members who participated in the completion
of this assignment.
3. Submit only one copy of your completed work via Moodle. Do not send it to
me by email.
4. Due: No later than the last day of Module 7. Please note that your professor
has the right to change the due date of this assignment.
Part A: Capital Budgeting Decisions
Chee Company has gathered the following data on a proposed investment project:
Investment required in equipment ............. $240,000
Annual cash inflows .................................. $50,000
Salvage value ............................................ $0
Life of the investment ............................... 8 years
Required rate of return .............................. 10%
Assets will be depreciated using straight
line depreciation method
Required:
Using the net present value and the internal rate of return methods, is this a good investment?
Part B: Master Budget
You have just been hired as a new management trainee by Earrings Unlimited, a distributor of
earrings to various retail outlets located in shopping malls across the country. In the past, the
company has done very little in the way of budgeting and at certain times of the year has
experienced a shortage of cash. Since you are well trained in budgeting, you have decided to
prepare a master budget for the upcoming second quarter. To this end, you have worked with
accounting and other areas to gather the information assembled below.
The company sells many styles of earrings, but all are sold for the same price—$10 per pair. Actual
sales of earrings for the last three months and budgeted sales for the next six months follow (in pairs
of earrings):
January (actual) 20,000 June (budget) 50,000
February (actual) 26,000 July (budget) 30,000
March (actual) 40,000 August (budget) 28,000
April (budget) 65,000 September (budget) 25,000
May (budget) 100,000
The concentration of sales before and during May is due to Mother’s Day. Sufficient inventory should
be on hand at the end of each month to supply 40% of the earrings sold in the following month.
Suppliers are paid $4 for a pair of earrings. One-half of a month’s purchases is paid for in the month
of purchase; the other half is paid for in the following month. All sales are on credit. Only 20% of a
month’s sales are collected in the month of sale. An additional 70% is collected in the following
month, and the remaining 10% is collected in the second month following sale. Bad debts have been
negligible.
Monthly operating expenses for the company are given below:
Variable:
Sales commissions 4 % of sales
.
1.) In the short run, some costs are fixed and cannot be changed, such as capital and technology. Explicit costs that can be varied include variable costs like wages.
2.) There are two views of total costs - the accounting view includes explicit costs plus depreciation, while the economic view includes all explicit and implicit opportunity costs.
3.) Implicit costs include forgone earnings, depreciation, and normal profit. Economic profit is calculated as total revenue minus total costs (explicit and implicit). Accounting profit only considers explicit costs and depreciation.
Este documento analiza el modelo de negocio de YouTube. Explica que YouTube y otros sitios de video online representan un nuevo modelo de negocio para contenidos audiovisuales debido al cambio en los hábitos de consumo causado por las nuevas tecnologías. Describe cómo YouTube aprovecha la participación de los usuarios para mejorar continuamente y atraer una audiencia diferente a la de los medios tradicionales.
The defense was successful in portraying Michael Jackson favorably to the jury in several ways:
1) They dressed Jackson in ornate costumes that conveyed images of purity, innocence, and humility.
2) Jackson was shown entering the courtroom as if on a red carpet, emphasizing his celebrity status.
3) Jackson appeared vulnerable, childlike, and in declining health during the trial, eliciting sympathy from jurors.
4) Defense attorney Tom Mesereau effectively presented a coherent narrative of Jackson as a victim and portrayed Neverland as a place of refuge, undermining the prosecution's arguments.
Michael Jackson was born in 1958 in Gary, Indiana and rose to fame in the 1960s as the lead singer of The Jackson 5, topping music charts in the 1970s. As a solo artist in the 1980s, his album Thriller broke music records. In the 1990s and 2000s, Jackson faced several legal issues related to child abuse allegations while continuing to release music. He married Lisa Marie Presley and Debbie Rowe and had two children before his death in 2009.
Popular Reading Last Updated April 1, 2010 Adams, Lorraine The ...butest
This document appears to be a list of popular books from various authors. It includes over 150 book titles across many genres such as fiction, non-fiction, memoirs, and novels. The books cover a wide range of topics from politics to cooking to autobiographies.
The prosecution lost the Michael Jackson trial due to several key mistakes and weaknesses in their case:
1) The lead prosecutor, Thomas Sneddon, was too personally invested in the case against Jackson, having pursued him for over a decade without success.
2) Sneddon's opening statement was disorganized and weak, failing to effectively outline the prosecution's case.
3) The accuser's mother was not credible and damaged the prosecution's case through her erratic testimony, history of lies and con artist behavior.
4) Many prosecution witnesses were not credible due to prior lawsuits against Jackson, debts owed to him, or having been fired by him. Several witnesses even took the Fifth Amendment.
Here are three examples of public relations from around the world:
1. The UK government's "Be Clear on Cancer" campaign which aims to raise awareness of cancer symptoms and encourage early diagnosis.
2. Samsung's global brand marketing and sponsorship activities which aim to increase brand awareness and favorability of Samsung products worldwide.
3. The Brazilian government's efforts to improve its international image and relations with other countries through strategic communication and diplomacy.
The three most important functions of public relations are:
1. Media relations because the media is how most organizations reach their key audiences. Strong media relationships are crucial.
2. Writing, because written communication is at the core of public relations and how most information is
Michael Jackson Please Wait... provides biographical information about Michael Jackson including his birthdate, birthplace, parents, height, interests, idols, favorite foods, films, and more. It discusses his background, career highlights including influential albums like Thriller, and films he appeared in such as The Wiz and Moonwalker. The document contains photos and details about Jackson's life and illustrious music career.
The MYnstrel Free Press Volume 2: Economic Struggles, Meet Jazzbutest
The document discusses the process of manufacturing celebrity and its negative byproducts. It argues that celebrities are rarely the best in their individual pursuits like singing, dancing, etc. but become famous due to being products of a system controlled by wealthy elites. This system stifles opportunities for worthy artists and creates feudalism. The document also asserts that manufactured celebrities should not be viewed as role models due to behaviors like drug abuse and narcissism that result from the celebrity-making process.
Michael Jackson was a child star who rose to fame with the Jackson 5 in the late 1960s and early 1970s. As a solo artist in the 1970s and 1980s, he had immense commercial success with albums like Off the Wall, Thriller, and Bad, which featured hit singles and groundbreaking music videos. However, his career and public image were plagued by controversies related to allegations of child sexual abuse in the 1990s and 2000s. He continued recording and performing but faced ongoing media scrutiny into his private life until his death in 2009.
Social Networks: Twitter Facebook SL - Slide 1butest
The document discusses using social networking tools like Twitter and Facebook in K-12 education. Twitter allows students and teachers to share short updates and can be used to give parents a window into classroom activities. Facebook allows targeted advertising that could be used to promote educational activities. Both tools could help facilitate communication between schools and communities if used properly while managing privacy and security concerns.
Facebook has over 300 million active users who log on daily, and allows brands to create public profile pages to interact with users. Pages are for brands and organizations only, while groups can be made by any user about any topic. Pages do not show admin names and have no limits on fans, while groups display admin names and are limited to 5,000 members. Content on pages should aim to provoke action from subscribers and establish a regular posting schedule using a conversational tone.
Executive Summary Hare Chevrolet is a General Motors dealership ...butest
Hare Chevrolet is a car dealership located in Noblesville, Indiana that has successfully used social media platforms like Twitter, Facebook, and YouTube to create a positive brand image. They invest significant time interacting directly with customers online to foster a sense of community rather than overtly advertising. As a result, Hare Chevrolet has built a large, engaged audience on social media and serves as a model for how brands can use online presences strategically.
Welcome to the Dougherty County Public Library's Facebook and ...butest
This document provides instructions for signing up for Facebook and Twitter accounts. It outlines the sign up process for both platforms, including filling out forms with name, email, password and other details. It describes how the platforms will then search for friends and suggest people to connect with. It also explains how to search for and follow the Dougherty County Public Library page on both Facebook and Twitter once signed up. The document concludes by thanking participants and providing a contact for any additional questions.
Paragon Software announces the release of Paragon NTFS for Mac OS X 8.0, which provides full read and write access to NTFS partitions on Macs. It is the fastest NTFS driver on the market, achieving speeds comparable to native Mac file systems. Paragon NTFS for Mac 8.0 fully supports the latest Mac OS X Snow Leopard operating system in 64-bit mode and allows easy transfer of files between Windows and Mac partitions without additional hardware or software.
This document provides compatibility information for Olympus digital products used with Macintosh OS X. It lists various digital cameras, photo printers, voice recorders, and accessories along with their connection type and any notes on compatibility. Some products require booting into OS 9.1 for software compatibility or do not support devices that need a serial port. Drivers and software are available for download from Olympus and other websites for many products to enable use with OS X.
To use printers managed by the university's Information Technology Services (ITS), students and faculty must install the ITS Remote Printing software on their Mac OS X computer. This allows them to add network printers, log in with their ITS account credentials, and print documents while being charged per page to funds in their pre-paid ITS account. The document provides step-by-step instructions for installing the software, adding a network printer, and printing to that printer from any internet connection on or off campus. It also explains the pay-in-advance printing payment system and how to check printing charges.
The document provides an overview of the Mac OS X user interface for beginners, including descriptions of the desktop, login screen, desktop elements like the dock and hard disk, and how to perform common tasks like opening files and folders. It also addresses frequently asked questions for Windows users switching to Mac OS X, such as where documents are stored, how to save or find documents, and what the equivalent of the C: drive is in Mac OS X. The document concludes with sections on file management tasks like creating and deleting folders, organizing files within applications, using Spotlight search, and an overview of the Dashboard feature.
This document provides a checklist for securing Mac OS X version 10.5, focusing on hardening the operating system, securing user accounts and administrator accounts, enabling file encryption and permissions, implementing intrusion detection, and maintaining password security. It describes the Unix infrastructure and security framework that Mac OS X is built on, leveraging open source software and following the Common Data Security Architecture model. The checklist can be used to audit a system or harden it against security threats.
This document summarizes a course on web design that was piloted in the summer of 2003. The course was a 3 credit course that met 4 times a week for lectures and labs. It covered topics such as XHTML, CSS, JavaScript, Photoshop, and building a basic website. 18 students from various majors enrolled. Student and instructor evaluations found the course to be very successful overall, though some improvements were suggested like ensuring proper software and pairing programming/non-programming students. The document also discusses implications of incorporating web design material into existing computer science curriculums.
8. Cambodian University forSpecialty General Accounting
Lecturer Mr. BeanYim,Tel:011893267,E-mail: yim_bean@yahoo.com Page 8
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ ។
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ ។
៣ - អអអអអអអអអអអអអ ( Cost Principle ):
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ អអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអ ។
9. Cambodian University forSpecialty General Accounting
Lecturer Mr. BeanYim,Tel:011893267,E-mail: yim_bean@yahoo.com Page 9
អ- អអអអអអអអអអអអអអអអអអអ (Equation of Balance Sheet):
អអអអអអអអអអអអអ (Assets) = អអអអអអអអអអអអអ (Liabilities) + អអអអអអអអអ
(Equity)
(អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ)
DEMONSTRATION PROBLEM
On June 1, 2000, Joanna Willis formed the Briarcliff Riding Stable. The following
transactions occurred during June:
Transactions:
June 1 the owner invested $10,000 cash in the business.
4 A horse stable and riding equipment were rented (and paid for) for the month
at a cost of $1,200.
8 Horse feed for the month was purchased on credit, $800.
20 Miscellaneous expenses of $600 for June were paid (to the supplier of
various items and services).
24 The owner withdraws $500 cash.
29 Land was purchased for use in the business by borrowing $40,000 from
relative by singing a note. The note is due to be repaid in five years with no
interest.
30 Salaries of $700 for the month were paid.
30 Riding and lessons fees were billed in the amount of $2,400 to a riding club,
whose members use the stable facilities. (This bill is due on July 10)
31 Fees of $3,000 for the month were billed to the riding club, whose members
were boarding their horses at the stable. (This amount is due on July 10)
Required:
a. Prepare a summary of the above transaction. Use columns headed Cash, Accounts
Receivable, Land, Accounts payable, Notes Payable, and Janna Willis, Capital, balance,
b. Prepare an income statement for the month of June 2000.
c. Prepare a balance sheet as of June 30, 2000
10. Cambodian University forSpecialty General Accounting
Lecturer Mr. BeanYim,Tel:011893267,E-mail: yim_bean@yahoo.com Page 10
Solution to DemonstrationProblem
a.
BRIARCLIFF RDING STABLE
Summary of Transactions
Month of June 2000
ASSETS = LIABILITIES + OWNER’S EQUITY
Date Explanation Cash AR Land AP NP Joanna Willis, capital
June1 Owner investment $10,000 = + $10,000
4 Rent expense -1200
$8800
=
+
-1,200
$8,800
8 Feed expense 0
$8800 =
$+800
$800 +
-800
$8,000
20 Miscellaneous expense -600
$8,200 = $800 +
-600
$7,400
24 Owner withdrawal -500
7700 = $800 +
-500
$6,900
29 Purchase land by borrowing 0
7,700
$+40,000
$40,000 = $800
$+40,000
$40,000 + $6,900
30 Salaries paid -700
$7,000 $40,000 = $800 $40,000 +
-700
6,200
30 Riding and lessons fees
revenue billed
0
$7000
0
$+2,400
$2,400
+3,000
0
$40,000
0
=
0
$800
0
0
$40,000
0
+
+2,400
$8,600
+3,000
30 Boarding fees revencue
End of month balances
$7000 $5,400 $40,000 = $800 $40,000 + $11,600
11. Cambodian University forSpecialty General Accounting
Lecturer Mr. BeanYim,Tel:011893267,E-mail: yim_bean@yahoo.com Page 11
b.
BRIARCIFF RIDING STABLE
Income Statement
For the month ended June 30, 2000
Revenues:
Horse boarding fees............................................ $3,000
Riding and lesson fees ....................................... 2,400
Total revenue................................................ $5, 4000
Expenses:
Rent.................................................................... $1,200
Feed................................................................... 800
Salaries.............................................................. 700
Miscellaneous................................................... 600
Total expense............................................... 3,300
Net income................................................................. $2,100
c.
BRIARCLIFF RIDING STABLE
Balance Sheet
June 30, 2000
Assets
Cash................................................................. $ 7,000
Accounts receivable........................................ 5,400
Land................................................................ 40,000
Total assets........................................ $ 52,400
Liabilities and Owner’s Equity
Liabilities:
Accounts payable........................... $ 800
Notes payable................................ 40,000
Total liabilities.......................... $40,800
Owner’s equity:
Joanna Willis, capital....................... 11,600
Total liabilities and owner’ equity............... $52,400
14. Cambodian University forSpecialty General Accounting
Lecturer Mr. BeanYim,Tel:011893267,E-mail: yim_bean@yahoo.com Page 14
ជ - អអអអអអអអអអអអអអអអអអអ $25,000 អអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ អអអអអអអអ $3,200
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ អអអអអអអអ ។
ឈ- អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ អអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអ $10,000 អ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
$30,000 អ អអអអ អអអអអអអអអអអអអអ អអអអអអអអអអអអអអអ $30,000
អអអអអអ ។
អអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអ អអអអអអអអអអអអអអអ អអអអអអអអអ
អអអអអអអអអអអអអអអអ អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអ ។
1-3 The transactions appearing below are those of the Ressell Jaccobs Company for the month of
April 2000. This was the first month of operation of the business.
Transaction:
1- Owner invested capital $100,000.
2- Purchased cleaning equipment on account, $30,000.
3- Earned service revenue on account, $24,000
4- Collected cash on account, $8,000
5- Paid wages, $6,000
6- Paid rent, $4,000
7- Received bill for advertising for April, $1,200
8- Paid an account payable, $30,000
Required:
a. Prepare a summary of transactions. Use money columns headed Cash, Accounts
receivable, Cleaning equipment, Accounts payable, and Russel Jacobs, capital.
Determine new balances after each transaction.
b. Prepare an income statement for April 2000.
c. Prepared a balance sheet as of April 30, 2000.
1-4 The following balances are for the Thomas Company. All revenues and expenses are for
the month of September 2000. All assets and liabilities balances are as o f September 230, 2000.
the owner’s equity balance as of September 1, 2000.
Cash.......................................................................... $18000
Service revenue....................................................... 12000
Accounts receivable.................................................. 3120
Accounts payable...................................................... 2160
Cleaning equipment.................................................... 14400
Office equipment........................................................ 3600
Gas and oil expense.................................................. 840
Advertising ex0pense................................................ 360
Wages expense......................................................... 5760
Marcie Thomas, capital, September 1, 2000............ 30288
Truck......................................................................... 7200
15. Cambodian University forSpecialty General Accounting
Lecturer Mr. BeanYim,Tel:011893267,E-mail: yim_bean@yahoo.com Page 15
Notes payable........................................................... 9600
Rent expense............................................................ 720
Miscellaneous expense............................................. 48
Required:
a. Prepare and income statement for the month ended September 30, 2000.
b. Prepare a balance sheet as of September 30, 2000. You will need to calculate
the September 30, 2000, balance in the owner’s capital account.
1-5 The balance sheet of Tara Trucker Company as of April 30, 2000, was as follows:
TARA TURCKER COMPANY
Balance Sheet
April 30, 2000
Assets
Cash....................................................................................$28,000
Account receivable............................................................ 80,000
Land................................................................................... 300,000
Total assets............................................................. 408,000
Liabilities and Owner’s Equity
Liabilities
Accounts payable...................................................... 72,000
Owner’s equity:
Mrianne Mills, capital...............................................336,000
Total liabilities and owner’s equity.......................................408,000
Summarized the transactions for the months of May were as follows:
Transaction:
1- The owner invested and additional $100,000 cash in business.
2- Collected $60,000 on accounts receivable.
3- Paid $52,000 on accounts payable.
4- Sold land costing $100,000for $100,000.
5- Decorating services were rendered to a major department store on account,
$190,000.
6- Paid payroll for the month, 110,000.
7- The owner withdraws $12,000 cash.
Required:
a. Prepare a summary of transactions. Using columns hading for items appearing in the
above balance sheet. Enter the balances in the April 30, 2000, balance sheet as
beginning balance in the summary of transactions.
b. Prepare an in come statement for the month of May 2000.
c. Prepare a balance sheet as of May 31, 2000.
The ended Chapter I
16. Cambodian University forSpecialty General Accounting
Lecturer Mr. BeanYim,Tel:011893267,E-mail: yim_bean@yahoo.com Page 16
CHAPTER II
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
RECRDING BUSINESS TRANSACTIONS
អអអអអអអអអអអអ (Learning Objectives )
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ:
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ :
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអ: អអអអអអអអអអអ អអអ អអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអ អអអ អអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអ
1. អអអអអអអអអអអ ( Ledger Account )
អអអអអអអអអអអអអអអអអ អអអអអអអអអអអអអអអអអអអអអអអអអអ
អអ អអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ ( Account or ledger account ) អ
អអអអអអអអអអអអ
អអអអអអ អអអអអអអអអអអអអអអអអ ( Ledger ) ។
១ . អអអអអអអអអអអអអអ:
អអអអអអអអអអអអអអអអអអ:
-អអអអអអអ អអ អអអអអអអអអ ( Title )
-អអអអអអ ( Debit ) អអអអអអអអអអអអអអអអអអអអអអអអអ
-អអអអអ ( Credit ) អអអអអអអអអអអអអអអអអអអអអអអ
Dr Cash Cr
( អអអអ T )
២ .អអអអអអអអអអអអអអអអអអអអអអអអអអ ( Determining the balance of an account )
Accounts Normally Accounts Normally
Having a Debit Having a Credit balance
Assets Liabilities
Expense Owner’s equity
Owner’s drawing Revenue
៣ . អអអអអអអអអអអអអអអអ អអអ អអអអអអ ( Rules of Debit and Credit Summarized )
Assets = Liabilities + Owner’s Equity
Debits = Credits
17. Cambodian University forSpecialty General Accounting
Lecturer Mr. BeanYim,Tel:011893267,E-mail: yim_bean@yahoo.com Page 17
a. អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអ
(Increases in asset accounts are debits decreases are credits.)
b. អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ ( Decreases in
liabilities
accounts are debits, increases are credits )
c. អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ ( Decreases
in owner
equity accounts are debits. Increases are credits)
d. គ អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ ( Decreases in revenue
accounts are debits. Increases are credits)
e. អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ ( Increases in expenses
accounts are debits decreases are credits )
18. Cambodian University forSpecialty General Accounting
Lecturer Mr. BeanYim,Tel:011893267,E-mail: yim_bean@yahoo.com Page 18
Rules of Debit and Credit
Assets = Liabilities + Owner’s Equity
Assets Accounts = Liability Accounts + Owner’s Equity Account(s)
Debit Credit Debit Credit Debit Credit
+ _ _ + _ +
Debit Credit Debit Credit Debit Credit
for for for for for for
increase decrease decrease increase decrease increase
Expense Accounts
and Owner’s
Drawing Accounts Revenue Accounts
Debit Credit Debit Credit
+ _ _ +
Debit Credit Debit Credit
for for for for
increase decrease decrease increase
Debit Credits
1. Increase assets. 1. Decrease assets
2. Decrease 2. Increase
liabilities liabilities
3. Decrease 3. Increase
owner’s equity owner’s equity
4. Decrease 4. Increase
revenues revenues
5. Increase 5. Decrease
expenses expenses
4. អអអអអអអ (Balance)
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ អ
អអអអអអអអអអអអអអអ អអអអអៗ អអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអឥ ណ អអអអ ។
Balance = Total Debits - Total Credits
អអអអអអអអអអអអអអអអអអអអអអអអអអអ អ អអអអអអអអអអអអអអអ :
Case 1: If: Total debits > total credits
Debit Balance “DB” = Total Debits – Total Credits
Case 2: If: Total Debits = Total Credits
Balance = Total Debits – Total Credits = 0
Case 3: If: Total debits < Total credits
Credit balance “CB” = Total Credits – Total Debits Total Debits
5. ( អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ (
Compute the
account of balance accounts by using running balance from )
19. Cambodian University forSpecialty General Accounting
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a. Assets, Expenses, and drawing accounts ( អអអអអអអអអអអអអអអអ អអអអអ អអអ
អអអអអ អអអអអអ)
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ អអអអអអ
អអអអអអអអអអអអអអអអអ អអអអអអ
b. Liabilities, Equity, and revenues accounts (អអអអអអអអអអអអអអអ អអអអអ
អអអអអអអអ) អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអ-អអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ ។
II. អអអអអអអអអអអអអអអ ( Journal )
1. អអអអអអអអអអអអអអអអអអអ ( General journal )
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អ អអអអអអអអអអអអអអអអអអអអអអ ៥
Columns :
a. Date Column
b. Account titles and Explanation Column
c. Posting referents Column or ledger page Column
d. Debit Column
e. Credit Column.
អអអអអអអអអអអអអអអអអអ អអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ (
Summary of
functions and advantages of using journal )
(1) អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ ( Records
each transaction
in chronological order )
(2) អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ អអអអអ:
អអអអអអអអអអអ អអអ អអអអអអអ
អអអ ( Shouts the analysis of each transaction in teams of debit and credit )
(3) អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអ ( Supplies
an explanation of each transaction when necessary )
(4) អអអអអអអអអអអអអអអអអអអអអ ( អអអអ ) អអអអអអអអអអអអអអ (
Serves as source
for future reference )
(5) អអអអអអអអអអអអអអអអអអអអអអអ ( Removes lengthy )
អអអអអអអអអអអអអអអអអអ
( Removes Lengthy explanations from the accounts )
(6) អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ:
អអអអអអអអអអអអអអអអអអ
( Makes possible posting the ledger at Convenient times )
20. Cambodian University forSpecialty General Accounting
Lecturer Mr. BeanYim,Tel:011893267,E-mail: yim_bean@yahoo.com Page 20
(7) អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ ( Assists in
maintaining the
ledger in balance )
(8) អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ ( Aids in tracing errors )
21. Cambodian University forSpecialty General Accounting
Lecturer Mr. BeanYim,Tel:011893267,E-mail: yim_bean@yahoo.com Page 21
General Journal and General Ledger, Posting and Cross-Indexing
GENERAL JOURNAL Page 1
Date Account Titles and
Explanation
Post.
Ref.
Debit Credit
1999
Jan. 1 Cash
100
1 0 0 0 0
Sandra Jenks, Capital 300 1 0 0 0 0
The owner invested $10,000 Cash
in the business.
5 Cash 100 5 0 0 0
Notes Payable-Bank 201 5 0 0 0
On a note
GENERAL LEDGER
Cash Accont No. 100
Date Explanation
Post.
Ref.
Debit Credit Balance
1999
Jan. 1 Owner investment G1
1 0 0 0 0 1 0 0 0 0 Dr
5 Bank loan G1 5 0 0 0 1 5 0 0 0 Dr
Notes Payable-Bank Accont No. 201
Date Explanation
Post.
Ref.
Debit Credit Balance
1999
Jan. 5 Owner investment G1 5 0 0 0 5 0 0 0 Cr
Sandra Jenks, Capital Accont No. 300
Date Explanation
Post.
Ref.
Debit Credit Balance
1999
Jan. 1 Cash form owner G1 1 0 0 0 0 1 0 0 0 0 Cr
25. Cambodian University forSpecialty General Accounting
Lecturer Mr. BeanYim,Tel:011893267,E-mail: yim_bean@yahoo.com Page 25
Trial Balance
May 31, 2000
Account
No. Account title Debits Credits
100 Cash..... .............................................. $ 64,944
101 Accounts Receivable.. ......................... 65,400
121 Land ..................................................... 24,000
210 Account................................................. $ 15,000
220 Notes Payable....................................... 12,000
310 Debra Lewis, Capital ............................ 85440
320 Debra Lewis, Drawing .......................... 13,2000
400 Tennis Lesson Revenue ........................ 162,000
510 Tennis Professionals Salaries Expense 39,600
520 Advertising Expense ............................. 16,800
530 Lesson Supplies Expense ..................... 1,800
540 Equipment Repairs Expense.................. 1,200
550 Office Salaries Expense ........................ 13,200
560 Building Rent Expense.......................... . 26,400
570 Utilities Expense................................... 1,680
580 Entertainment Expense.......................... 696
590 Equipment Rent Expense...................... 5,280
600 Miscellaneous Expense ........................ 240
$ 274,440 $ 274,440
Transactions :
June 1 Paid building rent for June,$2,400.
2 Paid an accounts payable , $4,580.
5 Purchase a small tract of land for cash, $1,800.
6 Gave tennis lessons to members of a large tennis organization on
account, $ 2,600.
10 Paid the note payable of $ 12,000.
13 Received cash from a customer on account, $ 2,800.
19 Received a bill for equipment repairs, $ 180.
24 Paid the June telephone bill,$66,and the June electric bill,$78.
28 Received a bill for June advertising, $ 1,320.
29 Gave tennis lessons to members of a tennis club for cash, $3,600.
30 Paid office salaries,$1,200,and tennis professionals salaries,$3,600
31 Gave tennis lessons to members of a tennis club onaccount,$4,400
30 Costs paid in entertaining persons who subsequently became
numbers, $ 204.
30 Paid equipmernt rent expense for June, $ 480.
30 The owner withdrew $ 1,200 cash .
Required :
a. Proper general journal entries for the transactions given above for
June 2000.
b. Post the journal entries to the general ledger accounts.
c. Prepare a trial balance as of June 30, 2000 .
26. Cambodian University forSpecialty General Accounting
Lecturer Mr. BeanYim,Tel:011893267,E-mail: yim_bean@yahoo.com Page 26
2-5. The Summer Lawn Care Company, owned by Gene Harper, was formed several
years ago. The company’s trial balance at the end of the first 11 months of its current
fiscal yearis presented below.
27. Cambodian University forSpecialty General Accounting
Lecturer Mr. BeanYim,Tel:011893267,E-mail: yim_bean@yahoo.com Page 27
SUMMER LAWN CARE COMPANY
Trial Balance
June 30,2000
Account
No. Account title Debits Credits
101 Cash..................................................... $ 98,320
102 Accounts Receivable ........................... 104,800
110 Land .................................................... 127,060
201 Accounts Payable ................................ $ 44,800
301 Gene Harper, Capital ........................... 171,380
302 Gene Harper, Drawing .......................... 44,000
400 Lawn Care Revenue.............................. 360,000
410 Shrubbery Care Revenue ..................... 134,680
510 Salaries Expense .................................. 87,800
520 Chemical Supplies Expense .................. 99,200
530 Advertising Expense .............................. 24,400
540 Truck Operating Expense ....................... 29,200
550 Office Rent Expense .............................. 44,000
560 Office Supplies Expense ........................ 1,600
570 Telephone and Utilities Expense ............ 3,080
580 Customer Entertainment Expense ......... 3,400
590 Truck Rent Expense ............................... 44,000
$ 710,860 $ 710,860
Transactions :
July 2 Paid office rent for July $ 4,000
5 Paid an account payable of $ 44,800
8 Paid advertising for the month of July $ 1,600
10 Purchased a small tract of land for cash. 1,400
13 Purchased on account $320 of office supplies for use in July
15 Collected cash from a large homeowner’s association on
account $ 102,400
20 Paid for customer entertainment in July $ 100
26 Paid for gasoline used in the trucks in July $ 360
28 Billed homeowner’s association for serveces performed in July;
lawn care, $ 63,000; and shubbery care, $ 43,000.
30 Paid for July chemical supplies, $ 26,400
31 Paid truck rent expense for July,$ 4,000
31 Paid July salaries, $ 20,400
31 The owner withdrew $ 4,000 cash.
Required :
a. Prepare general journal entries for the transactions given below for Jluly
2000.
b. Post the journal entries to the general ledger accounts by open three
columns ledger accounts for each of the accounts in trial balance and enter
the proper beginning balance in each account.
c. Prepare a trial balance as of July 31, 2000.
28. Cambodian University forSpecialty General Accounting
Lecturer Mr. BeanYim,Tel:011893267,E-mail: yim_bean@yahoo.com Page 28
THE ENDED CHAPTER II
29. Cambodian University forSpecialty General Accounting
Lecturer Mr. BeanYim,Tel:011893267,E-mail: yim_bean@yahoo.com Page 29
CHAPTER III
គគគគគគគគគគគគគគ
ADJUSTING THE ACCOUNS
អអអអអអអអអអអអ (Learning Objectives)
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ:
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ(
Adjusting entries)
អអអអអអអអអអ អអអអអអអអអអអអអអអអអអអអអអអ( Accrual basic and
cash basis )
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអ
អអអអ អអអអអអអអអអអ
អអ"អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
"អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអ" ។
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ:
1. អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ (Entries to
Apportion
Recorded Costs):អអអអអអអអអអអអអអអ:
a. អអអអអអអអអអអអអអអអអអអ:
អអអអអអអអអអអអអអអអអអអអអអអអអ២
អអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអ (Depreciation expense…) អអអអអអអអអអអអអអអអ
អអអ អអអអ អអអអអអអអអអអអអអអអអអអអអអអអអអ (Accumulated
depreciation.....)អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអ អអអអអអអអអអអអអអអអអអអអអអអអអ Straight line
method :
Original Residual
Cost - Value
Depreciation expese (period)=
Useful Life
<Number periods>
Example: អអអអអអអអអអអ អអអអអអអអអ:
អអអអអអអអអអអ$ 100.000 រ យ : អអអអអអអអអអអអអ អអ
អអអអអអអអអអអអអអអអអ
អអអអអ អអអអអអអអអអអអអ $ 50.000 រ យ :អអអអអអអអអអអអអ ១ ០
អអអអអអអអអអអ
30. Cambodian University forSpecialty General Accounting
Lecturer Mr. BeanYim,Tel:011893267,E-mail: yim_bean@yahoo.com Page 30
អអអអអអអអអអអអអអអអអអ អអអអអអ $10.000 អអអ
អអអអអអអអអអអអអអអអអអអ
$20.000
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអ$2.000 ។
អអអអអអអអ:
១ .
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
Straight line method
២ . អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអ
1).
a. Depreciation expense, Building for 1999
$100,000-$0
= = $ 5,000
20
b .Depreciation expense, Equipment for 1999
$50,000 - $10,000
= = $4,000
10
c. Depreciation expense,Car for 1999
$20,000 – 2,000
= =$ 4,500
4
2)
a.) Prepares adjusting entries in general Journal
General Journal Page No
Date Accounts Tittle & Explanation LP Debit Credit
1999
Depreciation expense : Building
Accumulation depreciation : Building
Depreciation expense building for 1999
Depreciation expense : Equipment
Accumulated depreciation :
equipment
Depreciation expense equipment for 1999
Depreciation expense : Car
Accumulate depreciation : Car
Depreciation expense Car for 1999
Dec 31
31
31
$5,000
4,000
4,500
5,000
4,000
4,500
b.) អអអអអអអអអអអអអអអអអអអអអអ : អអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអ អ អអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ អអអ
អអអអអអអអអអ អអអអអអអអអអអអអអអ អអអអអអ អអអអអអ
អអអអអអអអអអអអអអអអអអអអអ
អអអ អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ ។
31. Cambodian University forSpecialty General Accounting
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2. អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ: ( Entries to apportion
unearned revenue )
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ ( Unearned revenue
)
អអអអអអអអអអអអអអអអអអអអអអអអអអអអ អអអអអ
អអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអ អអអអអអអអអអអអអអអអអអអអ
3. អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ : (
Entries to record
nrecordued expense )
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ អ អអអអអអអអអអអ
អអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអ អអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ អអអអអអអ
អអអអអអអអអអ
អអអអអអអអអអអ ។
4. អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ:
( Entries to record unrecorded revenue ):
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ អ អអអអអអអអអអអ
អអ អអអអអអអអអអ
អអអអអអអអអអអអអអអអអអ (Receivable ) អអអអអអអអអអអអអអអអ
អអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអ ។
Problems from Chapter 3
Problem 1:
Mao Sum and a group o investors incorporates Dara Corporation on April 1.At
April 30, the trial balance
Prepaid Insurance $ 3,600
Equipment 28,000
Notes Payable 20,000
Unearned Fees 4,200
Fees Earned 1,800
Analysis reveals the following additional data pertaining to these accounts :
Prepaid insurance is the cost of a two –year insurance policy,effectice April1.
Depreciiation on the equipment is $ 500 per month.
The note payable is dated April 1,It is a six –month 12% note .
Seven customers paid for the company s six month lawn service package of
$ 600 beginning in April. These customers were serviced in April.
Lawn services rendered other customers but not billed at april 30 totaled $1,500
Instruction:
Prepare the adjusting entries for the month of April. show commputation.
Problem 2
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The ledger of Bopha Rental Agency, Inc. on March 31 of the current year
includes the following selected accounts before adjusting entries have been prepared.
Debit Credit
Prepaid Insurance $ 3,600
Supplies 2,800
Equipment 25,000
Accumulated depreciation Equipment $ 8,400
Notes Payable 20,000
Unrarned Rent Revenue 9,300
Rent Revenue 60,000
Interest Expense 0
Wage Expense 14,000
An analysis of the accounts shows the following :
1. The equipment depreciates $ 400 per month.
2. One -third of the unearned rent was earned during the quarter.
3. Interest of $600 is accrued on the notes payable.
4. Supplies on hand total $ 750.
5. Insurance expires at the rate of $ 200 per month.
Instructions:
Prepare the adjusting entries at March 31, assuming that adjusting entries are
made quarterly.
Additional accounts are: Depreciation Expense . Insurancr. Expense. Interest
Payable,and Supplies Expense.
Problem 3 :
Watkins Company has the following accounts balance included in its trial balance
for December 31 2000. Debits Credits
Accounts Receivable $ 50,000
Supplies on Hand 2,580
Prepaid Rent 4,800
Service Revenue $ 174,000
Salaries Expense 82,000
Additional data:
1. The amount of supplies on hand on December 31 is $ 180
2. The balance in the Prepaid Rent account is for a one --year period.
Starting October 1 of the current year.
3. Since the last payday. the employees of the company have earned
additional salaries of $ 4,060.
4. Services performed in December which will not be billed until January
amount to $ 12,000
Rrquired :
a. Prepare the annual adjusting journal entries December 31.
b. Open three --column ledger accounts for each of the accounts
involved. enter the balances as shown in the trial balance, post the
adjusting journal entries . and show balance.
Problem 4 :
The Dristan Delivery Company has the following account balances included in its trial balance for
December 31,2000
Debits Credits
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Accounts Receivable $ 22,000
Prepaid Insurance 4,800
Supplies on Hand 2,600
Building 100,000
Accumulated Depreciation -- Building $ 8,000
Unearned Delivery Frees 2,000
Delivery Service Revenue 64,000
Additional data :
1. The balance in the Prepaid Insurance account is for a four year period
beginning January 1.2000
2. At December 31.2000 supplies on hand totaled $800.
3. The building was acquired on January 1, 1985. and had an expected
use ful life of 20 year.with a salvage value of $ 20,000.
4. $ 1,500 of the unearned delivery fees in the trial balance have now been earned.
5. Delivery services were performed on account for a customer on
December 31. $ 1,200. No bill has been sent to the customer.and no
journal entry has been made.
Required :
a. Prepare the annual adjusting entries December 31.
b. Open three column ledger accounts for each of the accounts
involved, enter the balance as shown in the trial balance ,post the
adjusting entries, and show balance.
Problem 5 :
The Dorothy Price Company adjusts and close its books each December 31,
Given below are a number of the company s account balances prior to adjustment on Dececmber
31,2000.
Debits Credits
Prepaid Insurance $ 10,000
Supplies on Hand 4,300
Building 170,000
Accumulated Depreciation Building $ 68,000
Unearned Delivery Fees 3,600
Service Revenue 185,000
Salaries Expense 46,000
Additional data ( number your entries to match these items ) :
1. The Prepaid Insurance balance represents the remaining cost of
a four year insurance policy dated June,30 1998 having a total
premium of $ 16,000.
2. The physical inventory of the supply stockroom indicates that the
supplies on habd December 31, total $ 1,500.
3. The building was originally acquired on January 1,1974 with an
estimated useful life of 40 years and a salvage value of $ 10,000.
4. Salaries earned sine the last payday, but unpaid as of December
31,amount to $ 5,000.
5. Of the delivery fees received in advance $ 900 have been earned
by year end.
Required :
Prepare the adjusting entries indicated by the additional data, Show
34. Cambodian University forSpecialty General Accounting
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your calculations.
Problem 6 :
The ledger of Duggan Rental on March 31 of the current year included the
following selectde accounts before adjusting entries have been prepared.
Debit Credit
Prepaid Insurance $ 3,600
Supplies 2,800
Equipment 25,000
Accumulated Depreciation Equipmenr $ 8,400
Notes Payable 20,000
Unearned Rent Revenue 9,300
Rent Revenue 60,000
Interest Expene -0-
Wage Expene 14,000
Analysis of the accounts shows the following :
1. The equipment depreciates $ 250.
2. One – third of the unearned rent was earned during the quarter.
3. Interest of $ 500 is accrued on the notes payable.
4. Supplies on Hand total $ 850.
5. Insursnce expires at the rate of $ 300 per month.
Instructions :
Prepare the adjusting entries at March 31, assuming that adjusting
entries are made quartery.i
Additional accounts are: Depreceation Expense, Insurance, Expense,
Interest Payable, and Supplies Expense.
Prblem 7 :
The Spring River Resort opened for business on June 1 with eight air-conditioned
units. Its trial balance before adjustment on August 31,is as follows :
Spring River Resort
Trial Balance
August 31 ,2000
Debut Credit
Cash. . . . . . . . . . . . . . . . .. . $ 19,600
Prepaid Insurance. . . . . . . . 5,400
Supplies . . . . . . . . . . . . . . .. 3,300
Land . . . . . . . . . . . . . . . . .. 25,000
Cottages. . . . . . . . . . . . . . . . 125,000
Furniture. . . . . . . . . . . . . . . . 26,000
Accounts Payable. . . . . . . . . $ 6,500
Unearned Rent Revenue . . . . 6,800
Mortgage Payable . . . . . .. .. . 80,000
Villone Capital. . . . . . . . . . . . 100,000
Villone Drawing . . . . . . . . . . 5,000
Rent Revenue . . . . . . . . . . . . 80,000
35. Cambodian University forSpecialty General Accounting
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Salaries Expense . . . . . . . . . . 51,000
Utilotles Expense . . . . . . . . . 9,400
Repair Expense . . . . . . . . . .. . 3,600
$ 273,300 $ 273,300
Other data :
1. Insurance expires at the rate of $ 300 per month.
2. An inventory count on August 31 shows $ 900 of supplies on hand.
3. Annual depreciation is $ 4,800 on cottages and $ 2,400 on furniture.
4. Unearned rent of $ 5,000 was earned prior to August 31.
5. Salaries of $ 400 were unpaid at August 31.
6. Rentals of $ 800 were due from tenants at August 31.( Use Accounts
Receivable )
7. The mortgage interest rate is 12% per year. ( The mortgage was taken
out on August 1. )
Instructions :
a. Journalize the adjusting entries on August 31 for the 3-month period
June 1-August 31.
b. Prepare a ledger using the three-column from of account. Enter the trial
balance amounts and post the adjusting entries.( Use J 1 as the posting
reference )
c. Prepare an adjusted trial balance on August 31.
d. Prepare an income statement and an owner s equity statement for the 3
month ending August 31 and a balance sheet as of August 31.
The ended of ChapterIII
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CHAPTER IV
COMPLETING THE ACCOUNTING CYCLE :
WORK SHEE
CLOSING ENTRIES AND CLASSIFIED BALANCE SHEET
អអអអអអអអអអអអ ( Learning Objectives )
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ:
អអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអ ( Work Sheet )
អអអអអអអអអអអអអអអអអអអអ អអអអអអអអអអអអអអអអអអអអអ អអអ
អអអអអអអអអអអអអ អអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអ (WorkSheet)
អអអអអអអអអអអអអអអអ អអអ អអអអអអអអអអ
អអអអអអអអអអអអអអអអអ (Reversing entries)
Steps In The Accounting Cycle
Steps in the Accounting Cycle
Input Output
Processing
I.អអអអអអអអអអអអអអ ( Work Sheet )
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអ អអអអអអអអអអអអអអអអអ អអអអអអអ អអអអអអអអអអអអអ ។
1. អអអអអអអអអអអអអអ Work Sheet :
- អអអអអអអអអអអអអអអអអអអអអអអអ
- អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
- អអអអអអអអអអអអអអ
2. អអអអអអអអអអអអអ : (Accounting Cycle )
អអអ អ អអអអអអអអអអអអអអអ :
a. អអអអអអអអ Work Sheet:
- អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
- អអអអអអអអអអអអអអអអ
- អអអអអអអអអអអអអអអអអអ
- អអអអអអអអអអអអអអអអអអអអអអអអ
- អអអអអអអអអអអ អអអអអអអ
5
Prepare
financial
statements
1
Analyze
Transactions
by examining
source
documents
2
Journalize
transactions
in the journal
GENERAL
JOURNAL
3
Post journal
entries to the
accounts in
the ledge
GENERAL
LEDGER
4
Take a trial
balance of the
accounts and
complete the
work sheet
8
Take a
post-closing
trial balance
6
Journalize and
post adjusting
entries
7
Journalize post
closing entries
37. Cambodian University forSpecialty General Accounting
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- អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ ។
b. អអអអអអអអអអអ Work Sheet :
1. អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
2. អអអអអអអអអអអអអអអអ
3. អអអអអអអអអអអអអអអអអអអអអអអអអ
4. អអអអអអអអអអអអអអអអអអអអអអអអអអអ
5. អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
6. អអអអអអអអអអអអអអអអអអអអអអអអ
7. អអអអអអអ
8. អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
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3. គគគគគគគគគគគគគគគគគគគគគគគគ (គគគគគគគគគគគគគគគគគ)
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ ។
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ ។
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអ។
II. គគគគគគគគគគគគគគគគគ (Reversing Entries):
1999 1999
Dec. 31 Salaries Expense.....180 Dec. 31 Salaries Expense.....180
Accrued Salaries payable...180 Accrued Salaries payable...180
To record one day’s that were To record one day’s salaries
earned but are unpaid. that were earned but are unpaid
2000 2000
Jan 1 No entry Jan. 1 Accrued Salaries
Payable................180
Salaries expense .....180
To reverst the adjustin entry
made on Dec 31, 1987
Jan25 Accrued Salaries Jan. 25 Salaries expense ..3,600
Payable.................180 Cash................................3,600
Salaries expense.3,420
Cash..............................3,600
Paid salaries for four Paid salaries for four
weeks ending Jan 25 weeks ending Jan 25
(1) Entries when no
reversing entry is used
(2) Entries when
reversing entry is used.
The
adjusting
entry made
on Dec. 31,
1999
The
adjusting
entry made
on Dec. 31,
1999
The
reversing
entry made
on Jan 1,
2000
The entry to
record the
payment of
salaries on
Jan 25, 2000
The entry to
record the
payment of
salaries on
Jan 25, 2000
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III. អអអអអអអអអអ (The Closing Process)
1.អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអ អអអអអអអអអអអអអអ (Closing the revenue account (s) the balance in the
revenue accounts are transferred to a clearing account called Income Summary).
2.អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអ (Closing the expense account (s)-the balance in the expense
accounts are transferred to a clearing account called Income Summary
3.អអអអអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ (Closing the
Income Summary account-the balance of the Income Summary account is transferred to owner s
capital account )
4.អអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអអ
( Closing the
owner s drawing account- the balance of the owner s drawing account is transfered to the owner s
capital account )
4.1
PROBLEMS
Hillside stadium
អអអអអអអអ អអអអអអអ
អអអអអអ អអ អអអអអ ២ ០ ០ ០
អអអអ - - - - - - - - - - - - - - - $65,000
អអអអអអអអអអអអអអអអអអអអអអ- - - - -- - 15,000
អអអអអអអអអអអអអអអ- - - - - - - - - - - - - 60,000
អអ- - - - - - - - - - - - - - - - - - - - - - - 375,000
អអអអអ- - - - - - - - - - - - - - - - - - - - 378,000
អអអអអអអអអអអអអអអអ- - - - - - - - - - - - 33,600
អអអអអអ- - - - - - - - - - - - - - - - - - 90,000
អអអអអអអអអអអអអអអអអ- - - - - - - - - - 48,000
អអអអអអអអអអអអអ- - - - - - - - - - - - - - - - - 470,000
អអអអអអអអអអអអ- - -- - - - - - - - - - - -- - 8,500
អអអអអអអអអអអ- - - - - -- - - - - - - - - 376,000
អអអអអអអអអអអអអអអអអអអ- - - - - - - - - 10,1000
អអអអអ- - - - - - - - - - - - - - - - -- - - - 87,000
អអអអអអអអអអអអអ- - - - - - - - - - - - - - - 21,250
អអអអអអអអអអ- - - - - - - - - - - - - - - 8,750
$ 1,023,100 $ 1,023,100
អអអអអអអអអអអអ :
ក . អអអអអអអអអអអអអអអ អអអអអអអអអអអអអអអអអអអអអអអអអអអ $
12,000
អអអអអអអអអអអអអអអអអអអអអអ
ខ . អអអអអអអអអអអអអអអអអអអអអអអអអ$60,000 អអអអអ$40,000
អអអអអអអអអអអអអអ
អអអអអអអអអអអអអអអអអអអអអអ
អ. អអអអអអអអអអអអអអអអអអអអអអអអអអអអ អអអអអអអអ $1,050
អអអអអអអអអអអអអអអអអអអអអអអអអអអ$ 1,500