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Problem 1: A payment for advertising expense costing 420 TL was debited to utilities expense, 240 TL and credited to cash, 240 TL. Correct the error and indicate whether or not the erroneous entry affected net income (e.g. overstated or understated?).
Problem 2: A bill for 740 TL for office supplies purchased on account was debited to equipment, 470 TL and credited to accounts payable, 470 TL. Correct the error and indicate whether or not the erroneous entry affected net income (e.g. overstated or understated?).
Problem 3: When making the entry to record the year's depreciation expense, the bookkeeper debited accumulated depreciation for 1.000 TL and credited cash for 1.000 TL. Prepare the correcting entry for this transaction.
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
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Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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