Problem Set I ACC 300 Problem Set I Chapter 1 P1-3A Income Statement Service revenue $7500 Expenses: Advertising expense $400 Supplies expense $1000 Maintenance and repairs expense $600 Utilities expense $300 Salaries and wages expense $1400 Total Expenses $3700 Net Income $3800 The total net income was $3800 and expenses totaled $3700. This resulted in a successful profit for the first month. Balance Sheet Assets: Cash $4600 Accounts receivable
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Verizon Wireless Corporation Outline Team Paper ACC 300 Verizon Communications Outline Introduction: Verizon Communications Inc., based in New York City and incorporated in Delaware, was formed on June 30, 2000, with the merger of Bell Atlantic Corp. and GTE Corp. The mergers that formed Verizon were among the largest in U.S. business history, culminating in a definitive merger agreement, dated July 27, 1998, between Bell Atlantic, based in New York City, and GTE. Verizon was launched
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Week 4 Weekly Reflection ACC 300 Team Member 1 For any organization, household, or business it is vital to maintain internal controls on procedures and records. Maintaining control of these principles once put in place permits activities to get the larger picture. Internal control principles include independent internal investigations or surprise inspections that are conducted by an outside source with no hidden agenda to the company. These inspectors follow procedures to reduce fraud and misuse
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Verizon Global Environments ACC 300 Verizon Global Environment Verizon Communications Inc. (Verizon) is a communications services provider. The company offers a range of broadband, wireless, and wire line services to business, government and wholesale customers. The company’s service include wireless voice, data services and other and voice, internet access, broadband video and data, Internet protocol network services, network access and other services. Verizon provides converged communications
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Working with Financial Statements Team Paper ACC/300 Accounting is the lifeline to any successful business trying keep up with the competition. Accounting is used to record items that over a period of time a business pays for or receives. Accounting provides a tool for businesses to continue thriving and maintain sustainability, without these tools a business will fail and people will out put out of work. Proper accounting record keeping is obtained so management can review data and information
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Accrued Revenues Accrued revenues are used for transactions in which goods and services have been provided, but cash hasn't yet been received (Shanker, 2013). The most common accrued revenue situation is interest that has been earned but not yet received. When the interest is received, the entry is to debit cash, increasing it and adding it to the journal entree. The credit interest receivable will be marked by zeroing it out. The unrecorded revenues due to consumers not yet paying for the good
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EXERCISE 7-5 (a) Weaknesses | | (b) Suggested Improvement | 1. Checks are not prenumbered. | | Use prenumbered checks. | (Documentation procedures) | | | 2. The purchasing agent signs checks. (Establishment of responsibility) | | Only the treasurer’s department personnel should sign checks. | | | | 3. Unissued checks are stored in unlocked file cabinet. (Physical controls) | | Unissued checks should be stored in a locked file cabinet with access restricted to authorized
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Problem Set II ACC300 P2-6A A. Earnings per share. | | Earnings per share = Net income/Average No. of outstanding shares | | 2011-$2.00 = 60,000/30,0002012- $2.12=70,000/33,000 | | B. Working capital. | | Working capital = current assets - current liabilities | | 2011- 85,000 = 155,000-70,0002012- 113,000 = 188,000- 75,000 | | C. Current ratio. | | Current ratio = Current assets/Current liability | | 2011 :2.2 =155,000/70,0002012: 2.5 = 188,000/75,000 | | D. Debt
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Week 3 Media Summary The video this week summarizing what we have learned in class to this point was very entertaining. It took accounting and used it in a fun way by making a game show out of it. It combined some accounting principles, and put it in test questions form for a chance for the contestant to win a million dollars. It paused periodically to summarize each section to enhance the learning experience. I was able to refresh what I have learned to date, and compare the answers with what
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RECOMMENDED PLANT SPECIES ....................................................................19 EXHIBIT A REQUEST FORM 2 CHRISTENBURY MASTER ASSOCIATION, INC. ARCHITECTURAL CONTROL COMMITTEE INTRODUCTION The Architectural Control Committee (ACC) is providing the attached Architectural Design Guidelines (“Guidelines”) in accordance with that Declaration of Covenants, Easements, Conditions and Restrictions (“Declaration”), for purposes of establishing and maintaining exterior design elements
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