Exercise 1 Exercise 1 E3-4 Assets = Liabilities + Stockholders’ Equity . Retained Earnings Cash + A/R + Sup. + Equip. = Account Payables + Common Stock + Rev. – Exp. – Div. 1. +$20,000
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Holly Cornejo Exercises E3-4 & E3-9 Problems 3-5A & 3-6A University of Phoenix E3-4 (a) Describe each transaction. 1. Stockholders invested $20,000 cash for business 2. Equipment purchased for $5,000, paid $1,000 cash and a balance of $4,000 on account. 3. Paid $750 cash for supplies. 4. Earned $9,500 revenue, $4100 cash received and $5,400 on account. 5. Paid $1,500 cash on accounts payable. 6. Paid $2,000 cash dividends to stockholders. 7. Paid $800
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SOLUTIONS TO EXERCISES EXERCISE 22-1 (a) The determination as to whether a cost is variable, fixed, or mixed can be made by comparing the cost in total and on a per-unit basis at two different levels of production. | |Variable Costs | |Vary in total but remain constant on a per-unit basis. | | |Fixed Costs | |Remain constant in total but vary on a per-unit basis.
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Earnings ASSIGNMENT CLASSIFICATION TABLE Brief Exercises Do It! Exercises 1, 2, 3, 4, 5, 6 1 1, 2 1, 2 Record the issuance of ordinary shares. 7, 8, 9, 10, 11 2, 3, 4 3 *3. Explain the accounting for treasury shares. 12, 13, 14 5 4 *4. Differentiate preference shares from ordinary shares. 15 6 *5. Prepare the entries for cash dividends and share dividends. 17, 18, 19, 20, 21, 22 7, 8, 9 *6. Identify the items that
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ACC 560 Week 1 Homework Chapter 1 (E1-5, E1-9, E1-10 and E1-2A) For more course tutorials visit www.tutorialrank.com ACC 560 Week 1 Homework Chapter 1 (E1-5, E1-9, E1-10 and E1-2A) E1-5 E1-5 Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations are as follows. 1. Property taxes on the factory building. 2. Production superintendents’ salaries. 3. Memory boards and chips used in assembling computers. 4. Depreciation on the factory
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CHAPTER 16 Long-Term Liabilities ASSIGNMENT CLASSIFICATION TABLE | | |Brief Exercises | |Problems |Problems | |Study Objectives |Questions | |Exercises |Set A |Set B | |Describe the advantages and illustrate the impact |1, 2, 3, 4, 5, 6 |1 |1 |
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| | | |Brief | | | |Learning | |Questions | |Exercises | |Do It! | |Objectives | | | | | | | | | |
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CHAPTER 1 Accounting in Action ASSIGNMENT CLASSIFICATION TABLE Brief Exercises A Problems B Problems Study Objectives 1. Explain what accounting is. Identify the users and uses of accounting. Understand why ethics is a fundamental business concept. Explain generally accepted accounting principles and the cost principle. Explain the monetary unit assumption and the economic entity assumption. State the accounting equation, and define assets, liabilities, and owner’s equity. Analyze the effects
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ACC 201 - Financial Accounting Fall 2015 Syllabus (updated September 27, 2015) Contact Information: Professor: Michelle Yetman Email: mhyetman@ucdavis.edu (type “ACC 201” in the subject line in email correspondence) Office: Gallagher Hall, room 3408 Office phone: 530-754-7808 Office Hours: by appointment – email to schedule Class Sessions: Class sessions will be held Tuesdays from 9 AM to 12:50 AM in room 1213 Gallagher Hall. Course Content: This course will develop your knowledge of
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CHAPTER 9 Accounting for Receivables ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1 A Problems B Problems Study Objectives 1. Identify the different types of receivables. Explain how companies recognize accounts receivable. Distinguish between the methods and bases companies use to value accounts receivable. Describe the entries to record the disposition of accounts receivable. Compute the maturity date of and interest on notes receivable. Explain how companies recognize notes receivable
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