Accounting Equation Paper Keegan Mueller ACC 300 University of Phoenix 2/9/2015 Brian Lichau The Accounting Equation The accounting equation consists of three different entities within an organization; assets, liabilities, and stockholders’/owner’s equity. With these three principles, a company can measure their financial position. The main purpose behind the accounting equation is to figure out what assets the company has. In doing so, they must take into account the liabilities and
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Question 1: Proficient: Describe the steps in recording and posting the effects of a business transaction and provide some examples of source documents used in these steps. A company begins a business transaction as a result of a management decision. The company transaction is evidenced by a source document. The information obtained from source documents provides a starting point to prepare a journal entry. After the journal entry is prepared, it is posted to accounts in the ledger. Some examples
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11/17/2013 The Accounting Cycle AC114 Accounting has three basic activities; it identifies, records, and communicates the numbers to the interested parties of the company. The internal users who rely on accounting information are the people who plan, organize, and run the business. The most common external users that rely on the accounting information are investors and creditors, because neither of the two would invest into a business with inaccurate accounting information. To ensure accuracy
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To: Dr. Moffitt From: Daniel Arnold Date: 3/5/15 Re: Individual Project – “The History of Double-Entry Bookkeeping” Accounting has played an important role in the evolution of civilization, even before the modern concept of ‘accounting’, as understood by modern man, existed. Man’s drive to measure and record his surroundings required more and more complex means in order to do so (Gleeson-White 11). This drive to more complex recording techniques led to writing, a numeric system, the spread
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equation? 什么是会计等式？ P5 The relationship between assets, liabilities and owner’s equity is highlighted by the accounting equation. Assets=liabilities + owner’s equity A=L+OE Chapter2 What’s double entry bookkeeping？ 什么是复式记账法？ P18 Processing transactions in accounting is done by what is called double entry recording. A+E=L+OE+R Debits=credits A=assets E=expenses L=liabilities OE=owner’s equity R=revenue What’s debits and credits? 什么是存储卡和信用卡？ Debits (left-side entries) increase assets
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Week 8 : Final Exam - Final Exam ------------------------------------------------- Top of Form Time Remaining: | | Page: 1 2 | Page 1 1. (TCO F) The price earnings ratio is affected by _____. (Points : 3) | net income preferred dividends market price per share All of the above | 2. (TCO G) Which of the following is not a factor needed to calculate the present value of a bond? (Points : 3) | The contractual interest rate The length of time until the amounts are
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Chapter 02 - Investing and Financing Decisions and the Accounting System HANDOUT 2 – 1 SOLUTION, continued ANALYZING TRANSACTIONS Analyze each of the following transactions of World Wide Webster by performing each of the following. Then, use the chart on the following page to keep track of the amount in each account: (a) Stockholder invests $10,000 into the business in exchange for 10,000 shares of $1 par value common stock. 1. Decide if a transaction took place. 2. Identify the accounts affected
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Business Research Earl Lee III RES/351 June 23, 2014 Keith Schleicher Business Research Business research is made up of three different types of thinkers’ visionaries, standard decision makers and intuitive decision makers. Business based decisions carry a lot of weight as far as your company being successful. The research can be used to help can aid consumer feedback, product feedback, product research and competitive analysis that will benefit your company. Business research is fields
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1. A) B) Executive Summary The most important factors that affect average costs of materials to produce the products of our company, which is the skill saw, electric drill, screwdriver set, and fire extinguisher. The managers in charge of production are key in order to meet deadlines and produce the right amount. The operational managers would begin to look at daily activities of the firms inventory, monitor performance of sales task force and as well as daily scheduling. The tactical managers
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PROJECT GOAL The goal of this graded project is to create the following financial statements for J & L Accounting, Inc.: ■ Balance sheet ■ Income statement ■ Statement of retained earnings ■ Post-closing trial balance The financial statements must be created in one Microsoft Word document (.doc or .docx file). Alternatively, an Excel workbook may be used (.xls or .xlsx file). The Word or Excel file will be uploaded for grading. INSTRUCTIONS Read the following instructions thoroughly before
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