Here are the missing amounts from the information provided:
g) Assets of PSI Company on January 1, 2017 = 150,000
j) Liabilities of Beta Company on January 1, 2017 = 80,000
k) Assets of Omega Company on December 31, 2017 = 200,000
h) Liabilities of PSI Company on December 31, 2017 = 100,000
L) Expenses of Omega Company = 450,000
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meaning of accounting
meaning of book-keeping
difference between accounting and book-keeping
meaning of double entry system of book-keeping
accounting equation
accounting principles, concepts and conventions
parties interested in accounting information
accounting cycle
classification/types of accounts
golden rules of accounting
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
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meaning of accounting
meaning of book-keeping
difference between accounting and book-keeping
meaning of double entry system of book-keeping
accounting equation
accounting principles, concepts and conventions
parties interested in accounting information
accounting cycle
classification/types of accounts
golden rules of accounting
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Palestine last event orientationfvgnh .pptxRaedMohamed3
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The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
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Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxEduSkills OECD
Andreas Schleicher presents at the OECD webinar ‘Digital devices in schools: detrimental distraction or secret to success?’ on 27 May 2024. The presentation was based on findings from PISA 2022 results and the webinar helped launch the PISA in Focus ‘Managing screen time: How to protect and equip students against distraction’ https://www.oecd-ilibrary.org/education/managing-screen-time_7c225af4-en and the OECD Education Policy Perspective ‘Students, digital devices and success’ can be found here - https://oe.cd/il/5yV
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
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Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
2. GAAP (Generally accepted accounting
principles)
GAAP are the foundation and ground rules of accounting practice.GAAP are followed by accountants all over
the world. The accounting profession has developed a common set of standards is called generally accepted
accounting principles.
Most popular GAAP provided by FASB are as follows:
1. Dual Aspect Concept: According to this concept, each transaction has two sides. One side is debit and
another side is credit. Example: Invested 200000 by the owner in the business. Here debit is cash and credit
is owners capital.
2. Separate/economic entity: According to this assumption, a business has a separate legal entity. Example:
The economic activities of a business enterprise are kept separately from its owner and other business
units.
3. Going concern assumption: A business enterprise will continue forever. Example: Intel corporation is
continuing its businesses without considering shut down.
4. Monetary Unit Assumption: All economic activities of a business enterprise should measure by monetary
unit. Interl corporation should sold goods in the year 2002 for 50 billion.
3. GAAP (Generally accepted accounting
principles)
GAAP are the foundation and ground rules of accounting practice.GAAP are followed by accountants all over
the world. The accounting profession has developed a common set of standards is called generally accepted
accounting principles.
Most popular GAAP provided by FASB are as follows:
1. Dual Aspect Concept: According to this concept, each transaction has two sides. One side is debit and
another side is credit. Example: Invested 200000 by the owner in the business. Here debit is cash and credit
is owners capital.
2. Separate/economic entity: According to this assumption, a business has a separate legal entity. Example:
The economic activities of a business enterprise are kept separately from its owner and other business
units.
3. Going concern assumption: A business enterprise will continue forever. Example: Intel corporation is
continuing its businesses without considering shut down.
4. Monetary Unit Assumption: All economic activities of a business enterprise should measure by monetary
unit. Intel corporation should sold goods in the year 2002 for 50 billion.
4. GAAP (Generally accepted accounting
principles)
5. Periodicity Assumption: The economic activities of a business can be divided into artificial time periods.
Example: Intel corporation divides its economic activities yearly time periods.
6. Historical Cost Principle: Assists are liabilities are recorded on their acquisition process. Example: Intel
corporation bought a transaction ship costing 10 million in 1998. So this price should be kept over its economic
life.
7. Revenue recognition principle: Revenue is recognized when it is earned. Example: Intel corporation provided
services to NASA on account of 20 million. So this amount is to be recorded as a revenue for intel corporation.
8. Matching principle: expenses are to be matched with revenue to determine net income. Example: Intel
corporation earned 50 billion against 40 billion expenses. So after matching 10 billion is the net income.
9. Full disclosure principle: Accounting data and financial information are to be fully disclosed for complete
understanding. Example: Intel provides annual report every year to the interested users.
10. Cost-Benefit relationship constraint: Costs of the business activities should be lower than their benefits.
Example: Advertisement cost of intel should be lower than its net income.
11. Materiality Constraint: Information should be presented according to their relative importance.
12. Industry Practice Constraint: The peculiar nature of some industries and business concerns sometimes
require departure from basic accounting principles and qualities. Example: Some religious and charity
organizations need different accounting methods to produce realistic and useful financial reporting.
5. GAAP (Generally accepted accounting
principles)
13. Conservatism Constraint: Asset and net income should be stated at their respective lower values. Example:
Intel should not be overstate its assets and income.
14. Relevance Principle: Annual report of a business concern should include all necessary accounting data.
15. Timeliness Principle: Accounting information should be prepared and published just in time.
16. Verifiability Principle: Annual report of a business must be verified by a chartered accountant.
17. Consistency Principle: A company should use the same accounting principle and reporting practice through
time. Example: Life publishers uses straight line method for depreciation on its long term assets.
18. Stable monetary principle: Accounting data should be presented by a stable monetary unit.Example: Intel
uses all accounting data in US dollars.
19. Accrual basis principle: According to this principle, accounting practice includes accrual basis accounting.
Example: Accrual transactions must be adjusted to current accounting period.
6. The four financial statements
Companies prepare four financial statements from the summarized accounting data:
1. Income statement: An income statement presents the revenue and expenses and resulting net income or
loss for a specific period of time.
2. Owners equity statement: An owners equity summarizes the changes in owners equity for a specific time
period.
3. Balance sheet: A balance sheet reports the assets, liabilities and owners equity at a specific date.
4. Cash flow statement: A statement of cash flow summarizes information about the cash inflows (receipts)
and cash outflows (payments) for a specific time period.
7. Difference between Financial Accounting and
Managerial Accounting.
Subject Finalcial Accounting Managerial Accounting
Objective The primary objective of financial
accounting is to make periodical
reports to shareholders
Management accounting is to
provide information to the
management for planning and
controlling and decision making.
Time Focus Financial accounting emphasis on
past activities
Management accounting focus on
future activities
GAAP Financial accounting must follow
the rules of GAAP
Management accounting may not
follow the rules and principles of
GAAP.
Subject Matter Focuses on the whole
organization
Focuses on the segments of
organization
Audit Audit is mandatory Audit is not mandatory
Verifiability Emphasis on verifiability Emphasis on relevance for
planning and control.
9. Practice No-1
Joan Robinson opens her own law office on july-1, 2017. During the first month of operation the following
transaction occurred:
1. Joan invested $ 11000 in cash in the law practice.
2. Paid $800 for July rent on office space.
3. Purchased office equipment on account $3000
4. Provided legal services to clients for cash $1500
5. Borrowed 700 cash from a bank on note payable
6. Performed legal services for client on account of $2000
7. Paid monthly expenses: salaries and wages $500, utilities $300, advertising $100.
8. Joan withdraws $1000 cash for personal use.
a) Prepare a tabular summary
b) Prepare the income statement, owners equity statement, and balance sheet at July 31, 2017 for joan
robinson.
10. Practice No-2
Judi Salem opened a law office on july 1, 2017.On july 31, the balance sheet showed cash 5000, accounts
receivable 1500, supplies 500, equipment 6000, accounts payable 4200, owners capital 8800. During august
the following transactions occurred:
1. Collected 1200 of accounts receivable
2. Paid 2800 cash on accounts payable
3. Earned revenue of 7500 of which 3000 is collected in cash and the balance is due in September
4. Purchased additional office equipment for 2000 paying 400 in cash and the balance on account.
5. Paid salaries 2500, rent for august 900, and advertising expense 400
6. Withdraw 700 in cash for personal use
7. Received 2000 from bank-money borrowed on a note payable.
8. Incurred utility expense for month on account 270.
Instruction:
1. Prepare a tabular analysis
2. Prepare an income statement, owners equity statement and a balance sheet.
11. Practice No-3
Trixie maye started her own consulting firm on may 1, 2017.The following transactions occurred during the
month of May.
May 1- Carla invested 7000 cash in the business
May 2- Paid 900 for office rent for the month
May-3 Purchased 600 of supplies on account
May-5 Paid 125 to advertise in the county news.
May-9 Received 4000 cash for services provided.
May-12 Withdraw 1000 cash for personal use.
May-15 Performed 5400 of services on account.
May-17 Paid 2500 for employees salaries
May-20 Paid for the suppliers purchased on account on may 3
May-23 Received a cash payment of 4000 for services provided on account on may 15
May-26 Borrowed 5000 from the bank on a note payable
May-29 Purchased office equipment for 4200 on account.
May-30 Paid 275 for utilities.
Prepare: Tabular analysis, income statement and balance sheet.
12. Practice No-4
Alpha Company Beta Company PSI Company Omega Company
January 1, 2017
Assets 80000 90000 (g) 150000
Liabilities 41000 (d) 80000 (j)
Owners equity (a) 40000 49000 90000
December 31, 2017
Assets (b) 112000 170000 (k)
Liabilities 60000 72000 (h) 100000
Owners Equity 50000 (e) 820000 151000
Owners Equity changes in year
Additional Investment (c) 8000 10000 15000
Drawing 15000 (f) 12000 10000
Total revenue 350000 410000 (i) 500000
Total Expenses 333000 385000 350000 (L)
Determine the missing amount.