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Q1: Computerized System of Accounting
You have been working at a local travel agency as a secretary. Your agency has signed a contract with a local corporate company that will triple current sales revenues. The owner of your agency decides to computerize the accounting system. He realizes you are an accounting major and asks you to meet him to discuss this decision. He specifically wants to know the following:
Q2: The Accounting Equation
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:
What is the meaning of "discounted value of expected net receipts" and what basis of valuation for Ferry's patents would be generally accepted in accounting?
John Mapp dies with passive activity property having an adjusted basis of $50,000, suspended losses of $20,000, and a fair market value at the date of Mr. Mapp's death of $77,000. How much suspended loss can be taken on Mr. Mapp's final Form 1040..
Dizzy Chemicals Ltd is a resident of the Republic of South Africa. It is a registered value-added tax (VAT) vendor with a 30 June financial year end.
calculate the rate of return for the following ratios.the following information has been taken from the financial
when market value is $40 per share. Prior to split, Abbott had 50,000 shares of $10 par value common stock issued and outstanding. After split, Find the par value of the stock
Financial statement of your SLP company to compute the measurements - Reflect on the advantages and disadvantages of these performance measures.
Understand how fixed and variable costs behave and how to use them to predict costs, analyze a mixed cost using the high-low method and prepare an income statement using the contribution format.
Using the percentage of receivables method for recording bad debts expense, estimated uncollectible accounts are $25,000. If the balance of the Allowance for Doubtful Accounts is $8,000 debit before adjustment, what is the amount of bad debts expe..
Budgets are used for planning and control. Discuss how you can use the information derived for these two purposes?
Prepare a multiple-step income statement, a retained earnings statement, and a classified balance sheet and calculate the profit margin ratio and the gross profit rate.
findingnbsp the equivalent units for materials and conversion.bell computers ltd. located in liverpool england
Prepare the journal entry to record bad debt expense assuming Sandel Company estimates bad debts at (a) 1% of net sales and (b) 5% of accounts receivable.
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