E9-7 Brainiac Company purchased a delivery truck for $30‚000 on January 1‚ 2011.The truck has an expected salvage value of $2‚000‚ and is expected to be driven 100‚000 miles over its estimated useful life of 8 years.Actual miles driven were 15‚000 in 2011 and 12‚000 in 2012. Instructions (a) Compute depreciation expense for 2011 and 2012 using (1) the straight-line method‚ (2) the units-of-activity method‚ and (3) the double-declining balance method. (b) Assume that Brainiac uses the straight-line
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Individual Assignment #1: The Accounting Cycle Bob’s Chocolate Chips and More‚ a bakery specializing in gourmet pizza and chocolate chip cookies‚ started business on October 1‚ 2011. The following transactions occurred during the month. 1. The company issued 6‚000 shares of common stock at $15 per share. 2. The company acquired office equipment on October 1 for $30‚000 cash. The equipment was used for administrative tasks. 3. The company purchased $15‚000 of ingredients on
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TABLE OF CONTENT 1. MERCHANDISING BUSINESS a. Examples b. New Account on Income Statement c. Income Statement of Merchandising Business 2. DIFFERENCE: MERCHANDISING‚ MANUFACTURING & SERVICE RENDERING BUSINESS a. Service Business b. Merchandise Business c. Manufacturing Business 3. RECORDING SYSTEM OF MERCHANDISING BUSINESS a. Perpetual Inventory System i. Journal Entries 1. Purchases 2. Sales 3. Inventory Shrinkage Loss b. Periodic Inventory System i. Journal Entries 1. Purchases
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Step-cycle is a single sequence of locomotion by one hindlimb from the reference paw contacts the ground until the same hindlimb contacts the ground on the next occasion \cite{perrot2009}. It composes of stance phase and swing phase. The definition of stance phase is the step cycle part which starts as soon as the foot touches the ground and terminates when the foot begins to move forward \cite{pereira2006}. This phase contains braking and propulsion phases. The braking phase is the time period between
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HUMBER COLLEGE THE BUSINESS SCHOOL ACT 103- FINANCIAL ACCOUNTING I ACCOUNTING CYCLE ASSIGNMENT – INDIVIDUAL GRADE VALUE DUE DATE: OCTOBER 2013 EACH STUDENT IS REQUIRED TO SUBMIT THE HARD COPY (TYPED) OF THE ASSIGNMENT AT THE BEGINNING OF THE CLASS. DAUE DATE IS NOT NEGOTIABLE. PRACTICE SET – (YOUR NAME) ACCOUNTING SERVICES Service Business Accounting Cycle Assume that you are starting a new business‚ (YOUR NAME) Accounting Services‚ with a new partner‚ Harry Fowl. Harry has had some existing
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A STUDY OF ACCOUNTING OF BANKING COMPANIES SUBMITTED IN PARTIAL FULFILLMENT OF REQUIREMENTS FOR THE AWARD OF MASTER OF BUSINESS ADMINISTRATION AND MASTER OF BUSINESS LAWS [pic] UNDER THE ABLE GUIDANCE OF PROFESSOR Dr. GAJENDRA MEHTA FACULTY IN CHARGE‚ PRINCIPLES OF ACCOUNTING BY Iftekhar anees M.B.A.‚M.B.L SEMESTER I NATIONAL LAW UNIVERSITY‚ JODHPUR. August‚ 2006 BONA-FIDE CERTIFICATE Certified that this study paper is the bona fide work Dr. Gajendra Mehta‚ Faculty
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PREFACE This Accounting Information Systems I Module Assignment has been prepared to fulfill the requirements of the subject. This module assignment is to prepare a comprehensive written analysis that requires us to apply one of the transaction cycle in accounting information system process to the particular organization. Accounting Information Systems (AIS) is a system that collects‚ records‚ stores‚ and processes data to produce information for decision maker. Knowledge of AIS is very useful
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Product Life Cycle The diagram above shows that the respective sales (in red) and profits (in blue) across five stages are illustrated. The typical Products Life Cycle consists of five main aspects : Product Development Stage Introduction Stage Growth Stage Maturity Stage Decline Stage Product Development Stage Product Development is a very expensive stage. Panasonic Company will carry out Research and Development (R & D) at this stage. Panasonic Company may decide to introduce
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PRACTICAL ACCOUNTING 1 1. On January 1‚ 2012‚ Revenue Company sold specialized computers costing P760‚000 to Income‚ Inc. for P990‚000. Revenue Company’s trainers present numerous training sessions for Income’s employee during the installation period. Income made a 50% down payment‚ with the balance due upon completion of installation. How much revenue should Revenue Company recognize on its books on January 1‚ 2012? a. P990‚000 b. P760‚000 c. P495‚000 d. P-0- 2. SAMpple Company is an experienced
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Nature of Merchandising Business • Revenue activities of a merchandising business involve the buying and selling of merchandise. They purchase merchandise which is resold to customers. • Comparison to Service Business |Service Business |Merchandising Business | |Fees earned |Sales
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