A/C – PL Account – COGS 12) Operating Supplies A/C – PL 13) Misc Expense A/C – PL Define posting periods and assign it to the company code. Create tolerance groups Create payment program to determine how do you want to pay – cash, bank. Determine Initial cash Investment by owners in Capital Account/ Common Stock Account. Create Vendor Master Record for Landlord ---- tanager leasing Create Rent Expense Account – 1500 Create Invoice Receipt to determine how much I have to pay the
Words: 350 - Pages: 2
ventures are all important to the choices that best fit the company. Administrative or operating budget is a very important administrative budget in my opinion. Its function is to anticipate operate workloads, included as expenses incurred during supply operations. These expenses are what it takes to operate, lights, heat, wages, salaries, equipment cost, IT costs, office supplies, telephone
Words: 410 - Pages: 2
Musically Infinite,LLC Pamela A. Hawkins Executive Business Plan 2300 Jackson Street Henry, Georgia 91344 (818) 777-9311 P.Hawkmusicinfit@gmail.com December 23, 2014 Musically Infinite,LLC Pamela A. Hawkins Executive Business Plan 2300 Jackson Street Henry, Georgia 91344 (818) 777-9311 P.Hawkmusicinfit@gmail.com December 23, 2014 A. Executive Summary 3 A1. Business Identification 3 A2. Mission, Goals and Objectives: 3 A3. Keys to Success: 3 B. Company Summary 3 B1. Industry
Words: 4743 - Pages: 19
Chapter 5 REVENUE AND MONETARY ASSETS Changes from Tenth Edition The chapter has been updated. The SEC’s SAB101 Revenue Recognition tests have been added. Approach The sequence of transactions for accounts receivable and bad debts often causes difficulty; indeed, the time that one is sometimes forced to spend on this topic is all out of proportion to its importance. Students often do not understand why an Allowance for Bad Debts account is necessary at all; they do not grasp the notion
Words: 14148 - Pages: 57
an example of the closing of an expense account, Salary Expense in the form of a journal entry. (10 points) (Points : 20) It’s basically all about bringin the account back to zero. It is necessary to close provisional financial records at the end of the financial report because when they are closed its of course back to zero, for instance; (2). I would Debit Salary Expense and Credit to Payroll Expenses at the end of the month, for example, Salary Expense 1800 ,Credit Payroll=1800 2
Words: 286 - Pages: 2
Chapter 5 REVENUE AND MONETARY ASSETS Changes from Tenth Edition The chapter has been updated. The SEC’s SAB101 Revenue Recognition tests have been added. Approach The sequence of transactions for accounts receivable and bad debts often causes difficulty; indeed, the time that one is sometimes forced to spend on this topic is all out of proportion to its importance. Students often do not understand why an Allowance for Bad Debts account is necessary at all; they do not grasp the notion
Words: 14148 - Pages: 57
contracts for the lease of properties that have completed, settled, and funded. Inventory comprises of available rental properties that have been listed with the company, as well as landlords that are represented by agents of the company. Operating expenses include costs associated with the listing or showing of rental properties, such as open houses, advertising costs, and transportation of prospective tenants to the property. The bottleneck is the landlord’s approval and acceptance of the terms
Words: 3675 - Pages: 15
get caught, or the benefit outweighs the risk. Traveling business people have opportunities to pad or inflate expenses when traveling. Whether it's cashing in full-fare airline tickets and flying secretly on cheaper non-refundables or simply grabbing a few extra taxicab receipts, the middle-income corporate traveler who spends a lot of time on the road can find ways to pad their expenses another $5,000 or $10,000 per year without too much trouble, according to Joseph Wells, chairman of the Association
Words: 291 - Pages: 2
conceal than hourly ghost employees a. True b. False -1- 8. Which of the following analyses can be used to identify ghost employee schemes? a. Identifying employees who have no withholding taxes taken out b. Comparing actual payroll expenses to budgeted expenses c. Comparing employees who have
Words: 2246 - Pages: 9
treatment for R&D activities but take a different viewpoint on the method should be used. It’s clear that if future economic benefit gonna flow into the entity as the result of R&D activities. These cost should be classified as asset rather than expense. But whether future economic benefit are certain to flow into entity are impossible to predict. Thus the difference between GAAP and IFRS arise Slide 5: Talk about how US GAAP account for R&D cost. The accounting standard here is ASC 730- Research
Words: 919 - Pages: 4
