...Acct 220 Principles of Accounting I Final Examination Click below link for Answer http://workbank247.com/q/acct220-principles-of-accounting-i-final-examinati/12453 http://workbank247.com/q/acct220-principles-of-accounting-i-final-examinati/12453 University of Maryland University College Final Examination Acct220: Principles of Accounting I For this exam, omit all general journal entry explanations. Ensure to include correct dollar signs, commas, underlines & double underlines where required. Question 1: 40% points: Flip Company's December 31, 2014 trial balance is as follows: Flip Corporation Trial Balance December 31, 2014 Account Debit Credit Cash $43,500 Accounts Receivable 54,500 Allowance for Doubtful Accounts 500 Notes Receivable 30,000 Merchandise Inventory 55,000 Land 20,000 Building 150,000 Accumulated Depreciation, Building $15,000 Equipment 50,000 Accumulated Depreciation, Equipment 21,000 Goodwill 26,000 Accounts Payable 25,000 Long Term Notes Payable 75,000 Common Stock, $10 par, 2,000 shares authorized & outstanding 20,000 Retained Earnings 147,000 Sales Revenue 700,000 Salaries Expense 150,000 Utilities Expense 3,500 Cost of Goods Sold 350,000 Administrative Expenses 55,000 Sales Expenses 15,000 _______ Totals $1,003,000 $1,003,000 Flip is a small company and records adjusting entries & closing entries only at fiscal (calendar) year end. Correcting and adjusting...
Words: 2009 - Pages: 9
...General Journal Date | Description | Debit | Credit | Feb 1 | Bank | 50 000 | | | Van | 20 000 | | | Capital | | 70 000 | 1 | Cash | 30 000 | | | Bank | | 30 000 | 1 | Rent | 6 000 | | | Cash | | 6 000 | | Prepaid rent | 4 000 | | | Rent | | 4 000 | 2 | Office equipment | 5 700 | | | Cash | | 5 700 | 2 | Furniture | 10 000 | | | Account payable – Court Mamoth | | 10 000 | 3 | Carriage inwards | 150 | | | Bank | | 150 | 4 | Purchases | 11 250 | | | Account payable – Sasbadi Sdn Bhd | | 11 250 | 4 | Purchases | 6 800 | | | Account payable – Kumpulan Media Karangkraf Sdn Bhd | | 6 800 | 5 | Advertisement | 1700 | | | Bank | | 1 700 | 7 | Account receivable – Aisyah Tuition Centre | 3 700 | | | Sales | | 3 700 | 8 | Purchases | 4 500 | | | Cash | | 4 500 | 8 | Account payable – Sasbadi Sdn Bhd | 2 500 | | | Return outwards | | 2 500 | 9 | Account payable – Kumpulan Media Karangkraf Sdn Bhd | 150 | | | Discount received | | 150 | | Account payable – Kumpulan Media Karangkraf Sdn Bhd | 1 400 | | | Cash | | 1 400 | 9 | Cash | 2 000 | | | Sales | | | 10 | Cash | 3 000 | | | Discount allowed | 100 | | | Sales | | 3 100 | 12 | Purchases | 11 330 | | | Cash | | 10 922 | | Discount received | | 408 | 13 | Bank | 50 000 | | | Loan from CIMB Bank | | 50 000 | 13...
Words: 1749 - Pages: 7
...Journals and Scientific Documents The purpose of journals and professional papers is to inform the public on a specific subject matter. These writings relate directly to a broad spectrum dependent on the edition or publication specifics. Of professional papers, several types can provide a scope of information and credibility toward a purveyance of technical or detailed information. The structure is usually even flowing and organized with particular information segments set out about the constituency of the writing. These papers, intended for publication in special interest journals, enhance the writers research, writing, and documentation capabilities as some of the information, not being his/her own will need to be accredited as if it is not, than plagiarism will be extrapolated. Journals, usually published by or for a particular subject matter or client, are detailed and accurate. There may be a UCLA journal, National Geographic Journal, or even a mechanic’s journal. The particulars of this, geared toward a particular audience and each entry, will usually comprise two titles sharing a general viewpoint for the nonprofessional and an entry specific title for the professional. The purpose of journals is to inform a group or individual of the credible elements related to a curriculum or scientific, professional, or academic scope. The writings or information in a journal may be composed of professional papers but the opposite is not the same. ...
Words: 583 - Pages: 3
...Difference between journals and diaries:- The difference between a diary and a journal is that a diary is where you can write down what happened during the day and keep a record of stuff. A journal is to write your own personal feelings in, and things that happened, and how they happened. A diary is a report of what happened during the day—where you ate, who you met, the details that what was happened in the office, and who took whose side. It is a like a newspaper about you. A journal is completely different. A journal is about examining your life. It’s a GPS system for your spirit. Journals lead to insight, growth, and sometimes, achieving a goal. You can keep a journal in anything that feels comfortable and that’s portable–a spiral notebook, a bind book you have put together with lokta paper, index cards held together with a rubber band. You can use a computer; keep a blog, although that doesn’t work as well for me. But things on the internet are simply not private, password protected or not. To keep a journal on paper, pick a time of day to write. Keep it regularly. It makes it easier. Try that you didn’t stuck to an exercise program because then it can nailed it into schedule at a certain time. Writing works the same way. First thing in the morning, last thing at night, while eating lunch at your desk. Write with a good pen that feels good and whose color you like. In the beginning, you may have to set a time limit. Three minutes is good. Just write whatever comes...
Words: 593 - Pages: 3
...Alternative Accounting Practices DATE: April 24, 2012 The Accounting Analysis department of Vazquez & Sons has come up with an alternative method for consideration in reference to Wendy Geiger’s accounting methods. This department would recommend that Wendy Geiger incorporate special journals into the business that would consist of a Sales Journal, Purchase Journal, Cash Payment Journal, and Cash Receipts Journal. Use of these Journals would expedite the amount of time it requires to record all sales on account, all purchases made on account, all disbursements of cash, and all receipts of cash. Having the option of only writing the amounts in these types of Journals will alleviate writing the specific account name every time as required by the current practice of using the general journal entry process. Furthermore, only the amounts will have to be recorded which will also save valuable time that is needed for other duties and responsibilities. With this system of special journals incorporated as the standard, it will not require posting to the general ledger separately which results in the amount columns being totaled at the end of the business day and then posted to the general ledger. We would hope that strong consideration is given to this alternative method due to the fact your company has seen a substantial increase in business transactions and this method will ease some of the burden of time constraints associated with your current practices of...
Words: 253 - Pages: 2
...Preparation of Financial Statements is the process of several important stages that has different properties. General Journal completion is actually a permanent process. Here are the main rules of leading a General Journal * The General Journal is called the book of original entry. * A journal is a chronological record of transactions - they are in date order. * Each entry is called a journal entry, and represents a different business transaction. Each transaction is recorded once, and only once. * All journal entries follow the rules of debit and credit. Here is legal aspect of making General Journal entries timely. “A contemporaneous writing carries much more weight than a writing made at a later date. And a writing carries much more weight than a mere recollection of events, months or years after the event has taken place. The courts recognize that people's memories about events are much clearer right after the event has taken place. As to the sale of real estate, state laws require a contemporaneous writing, to establish the exact terms and conditions of the sale. In contract law, this is called a “meeting of the minds,” and must be present for a valid contract to exist. We will use verifiable, tangible evidence whenever it exists. Tangible evidence has physical existence – we can touch it, fold, staple, copy and file the document. We will look for a check, invoice, purchase order, contract or other business document that is a record of the event...
Words: 516 - Pages: 3
...As a teacher it is your responsibility to not only present new material to the student but to teach them and to verify and monitor what information they are actually obtaining and processing. There are many forms of assessments that teachers can use to evaluate students understanding of lesson material. I will suggest a few methods that I will use in my secondary education mathematics classroom. The first strategy of monitoring I will discuss will be quizzes. There are multiple advantages for this form of testing. First, is that it easily produces recorded data. I can quickly grade multiple choice questions and record the students’ grade. Being able to record this grade will allow me to present scores to the parents when I am asked for a student’s progress. Another advantage to a quiz is the ability to assess both the entire class and each individual’s understanding on a topic. I will be able to look at the overall measurement and decide whether there is a need to review the topic or lesson, or if the class is ready to advance in the given studies. Also, by presenting multiple quizzes through the term the students and I can create a set format, which can help ease classroom anxiety. Another form of monitoring students’ progression through a lesson is homework. Homework can be one of the most effective methods for tracking mathematical progress. Assigning, collecting and grading homework can be a very timely way to gather information on how each student is progressing through...
Words: 1003 - Pages: 5
...goals.These moments that I share in this special relationship shape me to grow from the past and prepare for the future. Unfettered,capabilities to share my innermost thoughts allowed captivated watch as I begin to blossom into a mature strong being able to stand back and marveled as the story unfolded. A connection so powerful that others long for the ability to have their words caressed and accepted. My aptitude to cope with the grind of life increased as the pages filled up. The ivory shelf above my bed cradled the secret books housing the foundation of character built over the years, strengthen by an everlasting, unbreakable, and irreplaceable bond.Each page of my journal is a connection that provides me with the ability to purge, enhances personal growth, and tells the world my story. Writing in a journal is a means to purge. The remembrance of hastening home knowing that serenity would come once Iexpelled the battle rampant in my head, enabled me to function and endure long hours bursting with the bile of sentiments blaring for discharge.When reflecting...
Words: 957 - Pages: 4
...Since the very beginning of my days as a student, I have despised literature. English has always been a subject that I dreaded. I do not loathe literature solely for my lack of writing skills, because I do enjoy reading, rather it’s the fact that I tend to lose my train of thought while writing an essay or while brainstorming an idea I want to address. I struggle with organizing my thoughts and making concise relationsHIPS[?][CONNECTIONS?] between literary texts and the assignments given by my teachers. The only time I do enjoy writing is when I can write freely in my journal. By writing in a journal, I do not worry about the grammar and organized aspect of writingCOMMA and it clears my mind. I find that I am able to write what I feel [easier ]MORE EASILY in my private journal versus writing an essay that will be graded. [NICE INTRO – CONTRARY TO YOUR TITLE, THIS SEEMS AS THOUGH IT’S GOING TO BE ABOUT YOUR JOURNAL WRITING VS. ACADEMIC WRITING, NOT GRAMMAR? ALSO, YOU NEED TO GET RID OF THIS EXTRA LINE BETWEEN PARAGRAPHS.] During [my ]seventh grade, in middle school, I had a very tough English teacher. Mrs. Carson was a very nice person outside of class[,]SEMI-COLON howeverCOMMA her toughness really displayed itself when she graded papers. Her main focus[ed] was grammar and clean organization rather than THE ideas of the topic. The entire year I struggled with her; each assignment I struggled to form my papers the way she would want and failed to remember the grammar rules and...
Words: 1059 - Pages: 5
...The Dynamics of Writing and Family “Most successful men have not achieved their distinction by having some new talent or opportunity presented to them. They have developed the opportunity that was at hand." -- Bruce Fairchild Barton, advertising executive and congressman Uncle would say, "There are certain inalienable truths you must accept." So when I raged about Atheists being disqualified for holding office in Arkansas or how it's illegal to carry a bible in Singapore, he'd say, "Write it down. Let it out." I've filled four journals. On an idle Thursday, when my mind was free of frustration, I read the crumpled, yellowed pages of my black leather journal and saw a natural progression from black to color. I had precisely captured all my experiences, but in an entirely aesthetic way. From then on, every time I opened my journal, I found myself in an unfamiliar environment writing to capture a mood or scene with creative language. It was my therapeutic getaway from reality. In the summertime, every Sunday, after taking a rattling cold bus, two smoky, humid subway trains, and picking up the best peanuts on 114th street, I would arrive at Riverside Park, New York. I wrote at least one piece every time I was there and shared my work with the same old man who perused the New York Times and the same skinny college student who sunbathed in her bikini. After noting any criticism they gave, I would return home, edit and embellish each piece. ...
Words: 1273 - Pages: 6
...How to Find Specific Journal Articles: (by Mark James) This is a step-by-step guide to finding specific research articles that you have been given the complete reference for (e.g. for seminar readings listed on Moodle, or for articles cited in lectures). To find articles when you do not have a full reference for (e.g. when you’re looking for research on a topic/theory/model generally) please refer to the slide “Finding Sources” of the Study Skills slides provided on Moodle. All seminar readings are available to download via the University of Kent library website using the following steps. Example - how to find: Poropat, A.E. (2009). A meta-analytic analysis of the five-factor model of personality and academic performance. Psychological Bulletin, 135 (2), 322-38. Step 1: Go to http://www.kent.ac.uk/library/ - click ‘Search for journals” and enter title of the journal (e.g. Psychological Bulletin) here: Step 2: Click on one of the search results: Some journals are accessible through multiple providers (e.g. PsycARTICLES, Academic Search Complete, Wiley-Blackwell Full Collection), with varying levels of access. Check the date of the article you’re searching for was published and select a provider which holds the journal published that year. Step 3: A new window will pop up, and you will be asked to input your Kent username and password. Once provided you will be taken to the journal providers website. Select the year the reading was published (e.g. 2009)...
Words: 289 - Pages: 2
...Medical Journals and the Failure of Trust” the issue of pharmaceutical businesses and their research, and how it is presented is outlined. The article covers one of the largest controversies with business research conducted by GlaxoSmithKline (GSK) and how the results were skewed and then reported by many medical journals as fact, even though the research did not support what was reported. The study was GSK 329, which showed a particular drug to be effective in adolescents with depression, even though the testing showed otherwise. (Jureidini & McHenry, 2011) The biggest unethical behavior that was demonstrated by GSK, and medical journals was the skewing of results of a study. Medical journals published articles that misrepresented the findings of GSK’s research. Internal reports by the company showed that their trials of the drug had failed to benefit adolescents with depression, and positively showed that there were negative results. (Jureidini & McHenry, 2011) The internal report states that “it would be commercially unacceptable to include a statement that efficacy had not been demonstrated, as this would undermine the profile of paroxetine,” and that “to effectively manage the dissemination of data in order to minimize any potential negative commercial impact.” (Jureidini &McHenry, 2011) This indicates that they skewed the results of the study so that only selective data would be published. The authors also place blame on the medical journals that published...
Words: 854 - Pages: 4
...Write that Journal Article (in seven days) Dr Inger Mewburn Director of Research Training Australian National University This slide deck is released under a Creative Commons license Are you a plotter or a pantser? Plotters like to plan and then write line by perfect line. They take a long time, but don’t have to do a lot of editing later. Pantsers like to just jump in, with minimal preparation. They make a mess and then clean it up. The cleaning up can take a long time. Ideally you can switch between these modes. ‘... file cabinets are full of unborn articles. I know many researchers who have a shameful backlog of data; some have unpublished data from the 80’ s that they “hope to publish someday”. Sure they will.’ Silva, 2007. Warning: Don’t try to do this from a cold start... Writing a journal article is like cooking a stew. You need ingredients. If you have to keep running to the shops it will slow you down. Check whether you have some or all of the following in your academic cupboard: ● ● ● Data, Ideas and/or artifacts Knowledge of at least some relevant literature Results, analyses and or theorisations Day Zero: What sort of academic are you? Academia used to be mostly about speaking Image of an early viva from William Clark “academic charisma and the origins of the research university. Now we know each other through writing “Text work is identity work” Kamler and Thomson, 2006 Where you publish matters because...
Words: 2719 - Pages: 11
...Name: Talicia WoodardCourse: 21st Century Skills: Communication and Information LiteracyDate: 12/12/14Instructor: Nicole Rhoades | GCU Fleming Library Scavenger Hunt and Gathering Resources Worksheet Overview: The GCU Fleming Library will be a vital resource for you during your academic career. The Library contains a wealth of resources that will help you find, research, and broaden your understanding on any given topic. Learning to correctly use resources to support your writing is an essential component of your academic success. Directions: Each step of this assignment will ask you to navigate and explore different components of the GCU Fleming Library. There are seven steps, each containing a question. Record your answers to the questions in the appropriate sections. Before starting this Scavenger Hunt, review the short walk-through tutorial on the GCU Fleming Library. This tutorial consists of five short segments: http://tutorials.gcumedia.com/libraryWalkThrough/vp02.swf If you have time, you can also attend the GCU Library Introduction Webinar. Sign up on this page: http://www.gcu.edu/Student-Life/Library/Webinar-Sign-Up.php Step 1: How to Access the Library There are a number of ways to access the library’s website. Use one of these to reach the Library Research & Resources page: 1. Go directly to the GCU Library Research & Resources page by typing http://www.gcu.edu/Student-Life/Library.php into your Internet browser and clicking “Enter”. ...
Words: 2229 - Pages: 9
...the structure of the papers is very complicated. In recent decades, there is an increasing trend in the complicacy of business and economics papers (Ellison, 2000). This phenomenon will induce more complexity in comprehending profound research papers. Regarding it, some basic models have been invented to give a general guideline of the building blocks of the research papers. For example, for writing an introduction of an article, Swales (1990) introduced a rhetorical pattern called create-a-research-space (CARS) which segments the introduction into three major parts, namely move 1, 2 and 3. The move 1 aims to give a background information of the topic of the research paper, depicting a general picture of which area the paper will fall into. The next move known as niche basically serves to connect move 1 and 3, illustrating the motive and inspiration of the paper (Swales & Feak, 2012). Followed by niche is the main purpose of the article. By presenting in either a purposive or descriptive way, the author can show a ultimate goal of the article. However, although some kinds of standardizations have been made to formalize the research papers, the construction of journals articles may vary extremely across different disciplines. Especially in business and economic areas, the structures of the introductions do not follow the CARS model. Thus, the primary objective of this paper is to examine the organization and pattern of the introduction of business and economics related research...
Words: 2079 - Pages: 9
