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Q. Explain the Adjusting Journal Entry?
Adjusting Journal Entry - An accounting entry made into a subsidiary ledger known as the Generaljournal to account for a periods changes, omissions or other financial data essential to be reported‘in the books' but not generally posted to the journals used for typical period transactions (cashreceipts journal, cash disbursements journal, payroll journal, sales journal and so on) entry is posted to general ledger accounts directly and generally will be numbered itself, datedand have an explanation. Illustration: AJE# 1 12-31-2003, debit Cash in bank $1,000. Creditinterest income $1,000, to record interest income on business bank account at year end, notrecorded in cash receipts journal though credited by the bank. (Cross-reference bank reconciliationand account where it was found)
What action(s) should be taken if analysis of pro forma financial statements reveals positive trends? Negative trends? When examine the pro forma statements, managers habi
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I just purchased a stock that would pay the dividends of the first four years as D1 = $0.65, D2 = $0.74, D3 = $0.79, D4 = $0.84. I also told that the dividends would grow continual
Crown Co. is expecting to receive 100,000 British pounds in one year. Crown expects the spot rate of British pound to be $1.49 in a year, so it decides to avoid exchange rate risk
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Assume that you have been consistently impressed by David and Tom Gardner of The Motley Fool since you first heard of their rather improbable rise to prominence in financial circ
Determine the Management buy-outs Management buy-outs (MBOs) The management of company buy out the shareholders. Management will usually require financial backers (ventu
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