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In a computerized environment you learn about the relationship between Peachtree and the fundamental accounting principles and processes. Although many of the accounting processes are automated with Peachtree, the user still needs to know the accounting basics principles in order to fully utilize the system. In this regard, discuss the following:
•The accounting system is based on the accounting equation. Explain this accounting equation and describe its components. •Describe the concept of debit and credit. How are they used in accounting?
•Describe the numbering system used to number each account in computerized accounting.
Determine the dividends per share and total cash dividends paid to the preferred and common stock holders during each of the four years
The cash equivalent price of the machine was $25,000. Due to an employee strike, Volmar could not install the machine immediately, and thus incurred $300 of storage costs. Costs of installation (excluding the storage costs) amounted to $800. The a..
Your suggested scorecard, which will be open to feedback from your senior managers, should include certain objectives, key performance indicators, and specific goals as a starting point for conversation.
1. which of the following items would be includable in the gross income of the recipient?a. insurance payments for
prepare journal entries as of january 12 to record the payroll and the payroll taxes for the week ending january 8.
shady lady sells window coverings shades blinds and awnings to both commercial and residential customers. the following
leno company manufactures toasters. for the first 8 months of 2014 the company reported the following operating results
Evanston?s accountant insists that he keep a detailed record of money and merchandise that he takes out of the business for his personal use. Why?
What is the difference between provisions that have a cash effect and those that do not have a cash effect? How would you define provisions that do not have a cash effect?
the city of chicago is considering a railroad track improvement project that is expected to provide benefits in the
Company sells a single product at $20 per unit. Sales- 100,000, variable costs $800,000, fixed costs $400,000 If a $4 drop in selling price will boost unit sales by 20% the company will experience:
In making judgments about materiality at the account balance level, the auditor must consider the relationship between it and financial statement materiality. This should lead the auditor to plan the audit to detect misstatements that:
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