BAO 1107 ACCOUNTING INFORMATION SYSTEMS TUTORIAL SOLUTIONS WEEK 3 CHAPTER 3 3. One often hears the statement: ‘Debits are bad and credits are good for the business.’ Do you agree? Why or why not? This statement is nonsense. The debits and credits are merely double-entry rules for recording transactions and events. Even though expenses may be “debit”, so too are assets. “Debit” implies neither good or bad. Likewise for credits, which can be revenues or liabilities or equity.
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Week 4 | Warm Up Exercise | Tan Siow Ching (Alicia) p. 78: QS2-6 Prepare journal entries for each of the following selected transactions a. On January 15, Kolby Anderson received shares from setting up a remodelling company called Fancy Kitchens by investing $75,000 cash along with equipment having a $30,000 value. b. On January 21, Fancy Kitchens purchases office supplies on credit for $650 c. On January 25, Fancy Kitchens receives $8,700 cash for performing remodelling services.
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Answer Key: Case 6 - Sweats Galore Question 1 It's always important to set goals to measure the success of any business. However, the first three goals are more of a mission statement while the fourth is an objective for the company. The problem is there no plan and one objective. What is he going to do if the company doesn't net the $25,000? Or what if it nets the $25,000 but there is not enough cash to sustain the business? There needs to be more objectives to make
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PM-592 Week 2 Assignment Problem 2-1 Basic Estimating Problem Equipment $15,000 $35,000 $10,000 $1200 $9,990 = $71,190 Installation/Labor 8hrs * $35/hr = $280/per day per worker 2 Maintenance specialists * $280 per day = $560 $560 * 2 Days = $1120 $1120 + Contract Labor $7,500 = $8620 Overhead $71,190 * 15% = $10,678.50 $8,620 * 3% = $258.60 $71,190 * 5% = 3,559.50 +8.620 * 5% = 3,990.50 Total Overhead = 14,927.60 2-2 (a) Expected price .24 + 4(.30) + .62 /6
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ANSWERS 1. Do you think it was important for Michael to stipulate that he wanted a business that he would enjoy, that would give back to the community, that would grow and be more successful every year, and that would generate a net income of $25,000 annually? Why or why not? It's always important to set goals to measure the success of any business. However, the first three goals are more of a mission statement while the fourth is an objective for the company. The problem is there no
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Solutions 1. Refer back to the four case studies which were covered as part of Question 7, Week 4. For each of these case studies calculate the Safe Lending Margin and compare it against the proposed borrowing. Comment on the overall strength of the second way out, making particular mention of whether the first and second ways out are independent. Case (a) No further information required. Commercial building and land = $650 K Treated as commercial property and extended at 50% then
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University of Phoenix Material Food Journal Complete the following table as a food journal for Weeks 2-5 of SCI/220. Use food labels or the Internet to search for the calories in each food item and for the calories burned during physical activity. Total the calories and calories burned for each day. Submit these journals to the facilitator on the last day of class. |Day |Food and beverages consumed throughout the day |Calories of each item |Physical activity
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to the reading. As well, there will be reading quizzes periodically. Week One 1/7 Introductions and Discuss Syllabus Overview of Ireland; writing prompt Week Two 1/14 Discuss Ireland -- pages 1 – 114 (hardback) (1 – 133) Compare and discuss the heritage site Newgrange (http://newgrange.com/) with the Delaney’s story in the novel. In class -- Watch DVD: Patrick Week Three 1/21 Discuss Ireland – pages 115 – 204 (134 – 237) In Class – listen to
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For the exclusive use of Z. Shan, 2015. 9-913-560 JUNE 10, 2013 LINDA A. HILL ALISA ZALOSH Wendy Peterson Introduction “Could you bring us the check, please?” Wendy Peterson signaled the waiter, breaking the awkward silence that ended the annual review of one of her direct reports, Fred Wu. On paper, Wu’s performance was impressive. Within eight months of joining the Plano, Texas, office of AccountBack, an accounting software and services company, Wu had signed the region’s largest
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Executive Summary Due to poor financial performance, EasyInternetCafe has decided divert from large cafes to a franchise model with smaller café sizes. Its main goal is also to focus on its core competencies such as the yield management model. In order to do so, it will be outsourcing its non-core competence activities which include logistics. Ingram Micro has been chosen as the logistics provider as they offer more full service activities while remaining at a lower cost than its competitors
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