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YOUR NEXT QUIZ (ON TUE) WILL BE OVER ACCOUNTS AND NOTES RECEIVABLE AND FIXED ASSETS FOR ACCOUNTS RECEIVABLE: HOW TO CALCULATE AND RECORD BAD DEBTS FROM AN AGING SCHEDULE JOURNAL ENTRY TO FACTOR AN ACCOUNT RECEIVABLE WRITEOFF OF A BAD DEBT FOR NOTES RECEIVABLE KNOW HOW THEY DIFFER FROM ACCOUNTS RECEIVABLE FIXED ASSETS KNOW THAT STRAIGHT LINE, DECLINING BALANCE, MACRS AND UNITS OF ACTIVITY ARE ALL DEPRECIATION METHODS KNOW HOW TO CALCULATE STRAIGHT LINE AND DOUBLE DECLINING BALANCE DEPRECIATION
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following is the correct general journal entry to record depreciation expense for the 20X2 fiscal year? A) Depreciation Exp. 4,000 Acc. Depreciation 4,000 B) Acc. Depreciation 4,000 Depreciation Exp. 4,000 C) Depreciation Exp. 8,000 Acc. Depreciation 8,000 D) Acc. Depreciation 8,000 Depreciation Exp. 8,000 4. On November 1, 20X2, Jackson Company paid $2,400 in advance for an insurance policy
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Accounting Information Systems and Special Journals Student Name ACC 225 Date Teachers Name Accounting Information Systems and Special Journals QUICK STUDY 7-1 Place the letter of each system principle in the blank next to its best description. A. Control principle D. Flexibility principle B. Relevance principle E. Cost-benefit principle C. Compatability principle 1._D_ The principle prescribes the accounting information system to change in response to technological
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Differentiating Depreciation Methods Sederick Nelson ACC/230 June 22, 2014 Jayme Edin Straight line method of depreciation relies on the passage of time in determining how the value of an
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Analyzing Kodak Income Statement Billie Jo Rose ACC/230 June 8, 2012 Dr. Perez In this check point I have analyzed the probability ratios of Eastman Kodak Company. The gross profit margin for 2003 was 32.3 percent and for 2004 it was 30.8 percent. This indicates a loss of 1.5 percent. I also calculated the return on assets percentages. For 2003, the return on assets was 4.6 percent and for 2004 the return on assets was 9.8 percent. This was an increase of 5.2 percent. This indicates
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Nicole Dreyer May 25, 2012 ACC/230 Sergio Perez Straight-line depreciation method takes the depreciation and spreads it evenly within each period. If the depreciation in five years would be something like $5,500.00, then each year would show $1,100.00 in depreciation. Accelerated depreciation method shows a higher depreciation in the early years and a lower depreciation in the later years. Taking the same depreciation of $5,500 for five years, this method would split it up differently. A company
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ACC 290 Week 2 WileyPLUS – 100% Correct To Buy This material Click below link http://www.uoptutors.com/acc-290-new/acc-290-week-2-wileyplus-new Question 1 Foyle Architects incorporated as licensed architects on April 1, 2014. During the first month of the operation of the business, these events and transactions occurred: Apr. 1 Stockholders invested $22,450 cash in exchange for common stock of the corporation. 1 Hired a secretary-receptionist at a salary of $468 per week
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