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In Accounting, there are only five different types of accounts. They are Assets, Liabilities, Owner's Equity, Revenues and Expenses. Increases or decreases in the balances for each account depend on the rules for debits and credits and the concept of a "normal" balance.
Question 1: Prepare the journal entries for $1,000 in interest posted to your savings account by your bank. The two entries required are: one on your personal books and another parallel journal entry on the books of your bank. Include what you believe are the correct account descriptions and type of accounts.
Question 2: Explain which accounts are involved and whether they are increased or decreased in your personal records and the records of your bank when the bank posts the interest earned to your savings account. Question 3: Would the bank issue a "credit memorandum" or a "debit memorandum" to you as evidence of the 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
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
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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