Peterson’s college
Peterson’s college
An association of two or more persons to carry on as co-owners of a business for profit.…
The capital cost of an asset includes a number of costs. Which of the following costs would not be considered part of the capital cost?…
How does the accounting profession distinguish between internal and external users of financial information? Whose needs are considered to be most important in the preparation of the general purpose financial statements?…
ChaNoel A. Torres Acevedo Intermediate Accounting I Homework: Exercise 3-1: Apr. | 2 | Cash | 30,000 | | | | Equipment | 14,000 | | | | Christine Ewing, Capital | | 44,000 | | | | | | | 2 | No entry—not a transaction. | | | | | | | | | 3 | Supplies | 700 | | | | Accounts Payable | | 700 | | | | | | | 7 | Rent Expense | 600 | | | | Cash | | 600 | | | | | | | 11 | Accounts Receivable | 1,100 | | | | Service Revenue | | 1,100 | | | | | | | 12 | Cash | 3,200 | | | | Unearned Service Revenue | | 3,200 | | | | | | | 17 | Cash | 2,300 | | | | Service Revenue | | 2,300 | | | | | | | 21 | Insurance Expense | 110 | | | | Cash | | 110 | | | | | | | 30 | Salaries Expense | 1,160 | | | | Cash | | 1,160 | | | 30 | Supplies Expense | 120 | | | | Supplies | | 120 | | | | | | | 30 | Equipment | 5,100 | | | | Christine Ewing, Capital | | 5,100 | Problem 3-1: Journal Entries…
1. The Department of Labor enforces the Fair Labor Act which sets the basic federal minimum wage at $ 7.25 per hour and for the state of California’s minimum wage is $ 8.00 per hour.…
The University Tools Primer is designed to familiarize you with the myriad of tools provided by the University of Phoenix to assist in your success. For example, did you know that the University of Phoenix Library contains thousands of up-to-date journals, newspapers, industry reports, and research databases? This University Tools Primer sends you on a search to answer 14 questions similar to the following question:…
Level of Difficulty Simple Simple Simple Simple Moderate Simple Simple Simple Simple Complex Simple Moderate Simple Simple Complex Moderate Moderate Moderate Moderate Moderate Time (minutes) 15–20 15–20 15–20 15–20 20–25 10–15 15–20 20–25 20–25 30–40 15–20 30–40 15–20 10–15 20–25 30–40 25–35 25–35 25–35 25–35…
The number one issue that led to student debt is the lack of financial education students receive throughout their lives. Financial education is a necessity that students need in order to make decisions with their college loans, also students agree that financial education is significant. A survey taken by Wells Fargo explains, “79% of millennials think personal finance should be taught in high school; basic investing, how to save for retirement and how loans work were the top three topics they ‘wished’ they’d learned more about”(HalahTouryalai, Forbes Staff, “Student Loan Problems”). This survey show how students agree that they lack financial education and “wished” they could understand it fully before entering college. Knowing this knowledge would’ve benefited students because without understanding investing, saving, and loans students would only worry about getting enough money to pay back these loans; but due to the rise of tuition prices more and more money is on the line which makes loans even steeper.…
“She’s a college freshman with a new BMW and she went into debt for it!” said Rachel Cruze at the beginning of her financial planning workshop at Texas A&M University-Commerce. She was politely describing the reckless spending that is prevalent among college students, and came to our university to raise awareness concerning the major debt crises among her young audience. She came to the university on October 11, and stood on stage in the Ferguson Auditorium to give college students, and other individuals, advice about how to efficiently manage finances. As the daughter of renown financial planner Dave Ramsey, Cruze offered proven financial management methods to the crowd. Although she gave several key points to financial freedom, her main topic was urging college students to go into as little debt as possible.…
The University of Texas at Dallas Financial Accounting: ACCT 6305 Section 001 Fall 2012 Professor Contact Information Ashiq Ali, Ph. D. Phone: (972) 883.6360 Office hours: Wednesday 4:00PM-5:00PM Office: SOM 4.434 Office hours: Tuesday 12:00PM-1:00PM Wednesday 4:00PM-5:00PM Office: MC 1.406S…
In 1973, the Financial Accounting Standards Board (FASB) was created and their mission is “to establish and improve standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors, and users of financial information.” (FASB.org, 2009a). The FASB is a private, not-for-profit organization whose primary purpose is to develop generally accepted accounting principles (GAAP) within the United States. The Securities and Exchange Commission (SEC) designated the FASB as the organization responsible for setting accounting standards for public companies in the U.S. Therefore, the FASB plays a vital and important role in protecting the financial well being and the overall stability of our economy.…
Today’s world is controlled by money, which means students should begin to develop skills in financial literacy. In becoming financially literate, students learn how to manage and invest money, how to budget money, how to handle debt and how to prepare for their future. Although many students may believe they understand financial literacy, they will find themselves struggling and in debt. Some students believe that the only way to pay for school is through loans, however, there are multiple ways in which school can be paid for. School can be paid for through federal aid loans and grants, scholarships and work study programs. When I…
Over two thirds of people under the age of twenty four realize they do not know enough about finances, and are losing money because of it (Norvilitis). The reason young adults lack this knowledge is because schools rarely have financial classes. Even if such classes are offered, students see few reasons to take them, as getting accepted into prestigious colleges may require classes like math and science instead of those. Another problem is the parents, who do not teach their kids enough about finances and how they work. Children rarely seem to have the knowledge growing up about the importance of finances, saving money, and being cautious with spending your money. When it is not taught at school, it becomes the responsibility of the parents to assume that role, a role that many times is not filled. Without the correct knowledge, many children grow up lacking the thought of keeping track of their expenses, paying taxes, and putting money into…
Sixty-eight percent of adults with student loans and whose children have loans are unhappy with the way they financed their own or their children's college(Journal of Accountancy). Sixty-eight percent, that is a disturbingly high number, that means that six out of ten students right now will regret how they paid for college and consequently will lead them along to the wagon that is debt. If we are to stop the rising influx of debt: teaching students about how to operate their finances in college will result in a reduction of students with…