...During the current year, the following transactions take place at ABC Corp. For each transaction, list the financial statement accounts which changes and by how much. Each transaction may affect multiple accounts, so think through the implication of the transaction through the whole year. Just list the account names and the amount. These transactions are independent of each other and not in any sequence. Note: you do not need to create the full financial statements for these transactions. Only list the various account names and the amount against those accounts for each transaction. Each transaction is independent of the other transactions. 1. ABC hires a subject matter expert at a salary of Rs 5,000 per month including benefits. The subject matter expert is non-billable and is expected to help engineers with resolving their technical queries and assist them in new technology adoption. It's been one month since these engineers were hired and you have just paid them their salaries. 2. ABC borrows Rs 1,000,000 at 10% interest to fund a new R&D facility. The loan and the accrued interest is payable after three years. It's been one year since the loan was taken. Interest is due to be paid but not paid out yet. 3. ABC borrows Rs 1,000,000 at 10% interest to fund a new R&D facility. The loan and the accrued interest is payable after three years. It's been one year since the loan was taken. Interest is due to be paid and was paid out earlier that morning. ...
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...ACCT101 project Case5-3 1. Electric utility bills Method 1: As everyone knows, the electricity meters can be read every month. Therefore, in December the company will know the electricity usage of the former 12 months including that of December last year. And the usage of electricity in December this year can be included in the next year’s revenue. Method 2: Strictly speaking, the revenue recognized in method 1 is not earned in THIS YEAR. through the method of estimating the electricity usage in December this year, added by the actual usage of former 11 months, we can get record the revenue and then do some adjustment in the next year. 2. Retainer fee none of the $10,000 should be counted as revenue in 2006. In accordance with the Basic Recognition Criteria, the revenue cannot be booked unless the entity has substantially performed what is required in order to earn income. Furnishing legal advice upon request is the law firm’s required service to be provided in this case. Since they did not perform any consultant service, the law firm cannot book the revenue for year 2006. Another appropriate way is applying the franchises model in this situation. As a franchiser recognizes revenue during the period in which it provides the services, the law firm may settle the revenue when their first general advice service is made. 3. Cruise None of the $260,000 was revenue to Raymond’s in 2006 since the service would not be rendered until January 23, 2007. Journal entries...
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...JET 2 Task 3 Deborah U. Myers The definition of capital structure is a “combination of a company’s long term debt, specific short term debt, common equity, and preferred equity, the capital structure is the firm’s various sources of funds use to finance its overall operations and growth. Debt comes in the form of bond issues or long-term notes payable, whereas equity is classified as common stock, preferred stock, or retained earnings. Short-term debt such as working capital requirements also is considered part to the capital structure (The Free Dictionary, 09).” “A mix or a company’s long-term debt, specific short-term debt, common equity and preferred equity. The capital structure is how a firm finances its overall operations and growth by using difference sources of funds (Investopedia).” Basically Capital Structure is that the company should be able to manage the company with growth by using a combination of debt and equity for maintaining its financial status for survival. Debt is bond issues that are long-term notes payable, equity is common or preferred stock or retained earnings. Capital Structure is also known as debt-to-ratio equity ratio which will give a view of the company in terms or risk. Equity capital is moneys that are given and owned by shareholders. There are two types of equity capital: 1. Contributed Capital in which money invested is in exchange for company stock. 2. Retained earnings are the profits from past years that have been collected...
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...Student Handbook 2012 WELCOME TO WAIKATO Welcome to the University of Waikato. I hope you make the most of your time here and the opportunities that will present themselves during the course of your study. You have come to an excellent university that is ranked top in 10 subjects under the Government’s Performance Based Research Fund. We are also internationally connected; we have research connections and student exchanges with some of the world’s top universities. I urge you to consider taking part in these while you are with us. Here at the University of Waikato, you will be taught by lecturers who are leaders in their fields of research and who win national teaching awards. We are proud of our academic quality and the fact that we turn out sought-after graduates who go on to take up important roles in all parts of the world. You will already have noticed our beautiful campus which is set in 68 hectares of gardens, green space and lakes. At the heart of it all is the new Student Centre, which was completed in 2011. With its accessible areas, Library services and multitude of facilities, it is a place for students to study or just gather together and we are very proud of this building. In 2011 we celebrated 10 years of another important building, the Gallagher Academy of Performing Arts. This world-class facility was the vision of a group of driven Waikato people. It quickly became a focal point in the campus and continues to be an important venue for the performing...
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...Accredited Tertiary Courses Listing 2012 Accredited Tertiary Courses Listing 2012 – as at 26 September 2012 1 2012 Accredited Undergraduate Courses AUSTRALIAN CAPITAL TERRITORY The Australian National University University of Canberra NEW SOUTH WALES Australian Catholic University Australian Institute of Higher Education Avondale College Charles Sturt University Kings Own Institute Macquarie University Southern Cross University Top Education Institute The University of New England The University of New South Wales The University of Newcastle The University of Sydney University of Technology, Sydney University of Western Sydney University of Wollongong Williams Business College NORTHERN TERRITORY Charles Darwin University QUEENSLAND Australian Catholic University Bond University Central Queensland University Christian Heritage College Griffith University James Cook University Queensland University of Technology The University of Queensland The University of Southern Queensland University of the Sunshine Coast SOUTH AUSTRALIA Flinders University Kaplan Business School The University of Adelaide University of South Australia Open Universities (conferred by Uni of SA) TASMANIA University of Tasmania VICTORIA Australian Catholic University Cambridge International College Carrick Higher Education Deakin University Holmes Institute Holmesglen Institute of TAFE La Trobe University Melbourne Institute of Technology Monash University Northern Melbourne Institute of TAFE RMIT...
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