...Impressive experimental exertion is being applied in the quest for gravitational waves, the conviction being that their identification could essentially help the examining of the universe. Be that as it may, starting yet, they have been distinguished just indirectly[1]. The expectation of the presence of gravitational waves comes as an immediate outcome of Einstein's hypothesis of general relativity[1], and measuring such waves stays one the last tests of his theory[2]. As per general relativity, gravity can be communicated as a space-time curvature[1], with gravitational waves being "swells" in these four measurements which spread as waves[2]. Not at all like electromagnetic waves, gravitational waves can go through matter without being impeded[3]. For example, the electromagnetic radiation discharged from supernovae blasts will be scattered endless times thus data from the blast will be lost[4]. The same does not remain constant for gravitational waves, which gives them specific criticalness in space science. Pretty much as cosmologists use optical telescopes to watch galactic wonders today, the trust is that the same will be made conceivable utilizing hardware that can distinguish gravitational waves[1]. About all galactic wonders radiate gravitational waves in some form[4], including frameworks, for example, dark opening communications, which have no electromagnetic signature[5]. In this manner, new wonders might get to be discernible if the force of gravitational...
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...Departments In A Bank As soon as it becomes necessary, on account of volume of business, to divide the work in a bank into divisions, each employing a group of clerks, such division is organized into a department having a department head who is usually a teller, a head bookkeeper, or perhaps a junior officer. In the very large banks the executive staff is itself organized into groups, and there may be a vice - president and one or two assistant cashiers in charge of each important department. The work of a department in a large bank is nothing more nor less than the work of a single man in a small bank, apportioned among several men. For example, the receiving teller in a five-man bank will take the deposit, count the cash, examine the checks, assort them as to place payable, enter them upon the proper records and make a settlement or proof at the end of the day. In a large bank each of these operations is performed by a different man or group of clerks under the direction of the receiving teller, who is head of the department. It may be that he himself will do very little if any of the detail work. He becomes the manager. Frequently we find a department within a department, as for example, the money department within the paying teller's department. The ordinary departments, classified as to group, may be described as follows: Paying Teller's Department (Teller): Pays or certifies checks. In charge of the signature book or cards bearing the authorized signatures of all depositors...
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...The word consignment can be generally defined as the act of sending a quantity of goods by the manufacturers and producers of one country or place to their agents in another at the risk of the principals for the purpose of sale. Goods so sent are known as "consignment". The sender of the goods is called the consignor. Generally the manufacturers or producers are consignors. The person to whom goods are forwarded for the purpose of sale is known as the consignee. The consignment can be classified as: 1. Outward consignment. 2. Inward consignment. It is called "outward" when the dispatch of a quantity of goods from one country to another is made for the purpose of sale and is called "inward" when the receipt of the quantity of goods is made for the purpose of sale. Goods sent on consignment do not become the property of the consignee. He has not bought them. The ownership remains with the sender or the consigner. If the goods are destroyed, the receiver (consignee) is not responsible. The loss will fall on the consignor. The consignee tries to sell the goods according to the instructions of the consignor. When the goods have been sold, he will deduct his expenses, commission, etc., from the sale proceeds and the balance is remitted to the consignor. The relationship between the consignor and the consignee is that of principle and agent. The consignee is the agent. The consignee acts entirely on behalf of the consignor. The consignee is entitled to his remuneration which...
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...debited cash, 800.00 debated rent expense 8 450.00 increase in cash, debt 450.00 AR 9 3000.00 debated cash, 3000.00 salary expense 10 A/P credited 300.00, utility expenses debited 300.00 B. $23,400.00 is how much the stockholders equity increased this month. C. Net Income for the month $23,100.00 E3-9 StepAside Corporation May 2015 General Journal GENERAL JOURNAL Date Account Titles and Explanation Debit Credit 5/4/2015 Supplies $ 700.00 cash accounts payable $ 700.00 5/7/2015 Advisory Services $ 6,800.00 Cash Service Revenue $ 6,800.00 5/8/2015 Supplies $ 850.00 Accounts Payable $ 850.00 5/9/2015 Equipment $ 1,000.00 cash $ 1,000.00 5/17/2015 Payroll $ 530.00 cash Salaries Paid $ 530.00 5/22/2015 Repairs $ 900.00 cash accounts payable $ 900.00 5/29/2015 Insurance $ 1,200.00 cash 1 year prepaid insurance $ 1,200.00 Problems 3-5A A Towne Architects April 2012 General Journal GENERAL...
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... + Sup. + Equip. = Account Payables + Common Stock + Rev. – Exp. – Div. 1. +$20,000 +$20,000 Com. stock 2. -1,000 +$5,000 +$4,000 3. -750 +$750 4. +4,100 +$5,400 +$9,500 Serv. Rev. 5. -1,500 -1,500 6. -2,000 -$2,000 7. -800 -$800 Rent Exp. 8. +450 -450 9. -3,000 -3,000 Sal. Exp. 10. +300 -300 util. Exp. $15,500 + $4,950 + $750 + $5,000 = $2,800 + $20,000 + $9,500 - $4,100 - $2,000 $26,200 26,200 E3-9 Date Account Debit Credit May 4 Accounts Payable $700 Cash $700 7 Advisory services $6,800 $6,800 8 Supplies $850 Account Payables $850 9 Equipment $1,000 Cash $1,000 17 Wage Expense $530 Cash $530 22 Equipment Expense $900 Repairs payable $900 29 Prepaid Insurance $1,200 Cash $1,200 P3-5A Date Account Titles and Explanation Debit Credit 2012 Apr. 1 Cash Common Stock $18,000 (Issued stock for cash) $18,000 2 Rent Expense Cash $900 (Paid cash for April office rent) $900 3 Supplies $1,300 Accounts Payable $1,300 (Purchased...
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...800 (Issue of 18 000 shares at $2.60 under the rights issue) 2011 Jan 16 Call 180 000 A ordinary shares 180 000 (Call of $1.50 on 120 000 A ordinary shares x $1.50) Jan 31 Cash at bank 165 000 Call 165 000 (Cash received, 110 000 A ordinary shares x $1.50) Feb 5 A Ordinary Shares 30 000 Call 15 000 Forfeited shares liability 15 000 (Forfeiture of 10 000 A ordinary shares called to $3.00, paid to $1.50) Mar 31 Cash at bank 24 500 Share options (expiring 31/12/12) 24 500 (Issue of 35 000 options at $0.70) Dec 31 Cash at bank 75 600 Share options 75 600 (Exercise of 27 000 options into A ordinary shares at exercise price of $2.80) Dec 31 Share options 75 600 A ordinary shares 75 600 (27 000 options exercised) Dec 31 Share options (expiring 31/12/12) 22 400 Lapsed options reserve 22 400 (8 000 x $2.80 lapsed options written off) Dec 31 A ordinary shares 2 200 Cash at bank 2 200 (Costs of share...
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... Account Debit Credit Cash Accounts receivable Supplies Prepaid insurance Furniture and equipment Accounts payable Electricity account payable Unearned revenue Share Capital Dividends Services revenue Salary expense Electricity expense Rent expense $ 96 300 43 380 11 160 7 380 236 880 146 520 154 840 8 600 21 240 $ 8 820 8 600 2 640 286 240 420 000 $726 300 $726 300 The following transactions were completed during June: June 1 3 6 10 14 20 23 24 26 27 29 30 Purchased supplies on credit for $5230. Received $22 200 from patients as payment on account. Paid the electricity expense of $8600, previously recorded. Performed services for $2000 that was recorded previously as unearned revenue. Recorded revenue of $162 350 in cash and $12 450 on credit. Paid salaries of $73 200. Purchased furniture for $14 000 and paid by electronic transfer. Paid creditors $6400. Paid $80 000 in additional dividends. Purchased insurance policy for $4200 to cover business assets. Received $12 000 from patients as payment on account. Recorded revenue of $143 600 in cash and $21 000 on credit. Paid rent of $24 500. Required A. Prepare journal entries to record each transaction. Narrations are not required. B. 1. Open T accounts for the accounts shown in the trial balance. 2. Enter the 31 May balance in each account. 3. Post...
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...Books of Accounts& Balancing off accounts of "Olivia's Pizza Parlour": Dr Bank Cr 200717-1 K.Henriques 18421-1 Betta Ltd 50031-1 motor van 4000Balance c\d 6661 ____ 11345 | 200701-1 Capital 10,00005-1 Cash 75012-1 Cash 50024-1 J.Carlton 95 ____ 11345 Balance b\d | Dr Capital Cr 20071-1 Bank 10,000 ____ 10,000 | | Dr Purchases Cr | 2007 2-1 Creditors 1,063 9-1 Cash 546 10-1 Creditors 755 _____ ...
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...PROBLEM 5-2A | June 1 Merchandise Inventory 960 Accounts Payable 960 3 Accounts Receivable 1,200 Sales 1,200 Cost of Goods Sold 720 Merchandise Inventory 720 6 Accounts Payable 60 Merchandise Inventory 60 9 Accounts Payable ($960 – $60) 900 Merchandise Inventory ($900 X .02) 18 Cash 882 15 Cash 1,200 Accounts Receivable 1,200 17 Accounts Receivable 1,400 Sales 1,400 Cost of Goods Sold 840 Merchandise Inventory 840 20 Merchandise Inventory 720 Accounts Payable 720 24 Cash 1,372 Sales Discounts ($1,400 X .02) 28 Accounts Receivable 1,400 PROBLEM 5-2A (Continued) June 26 Accounts Payable 720 Merchandise Inventory (720 X .01) 7 Cash 713 28 Accounts Receivable 1,300 Sales 1,300 Cost of Goods Sold 780 Merchandise Inventory 780 30 Sales Returns and Allowances 150 Accounts Receivable 150 Merchandise Inventory 90 Cost of Goods Sold 90 PROBLEM 5-3B | (a) General Journal Date | | Account Titles | | Debit | |...
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...bookkeeping account used to track debt and payments from borrowers. When a small business lends money, goods or merchandise to an individual, it expects repayment. For many types of loans, the business will record the transaction under accounts receivable. In specific situations, however, in which the company receives a signed promissory note guaranteeing repayment, the transaction is recorded under notes receivable. Companies that use notes receivable in their bookkeeping follow the accrual method of accounting. Promissory Notes and Notes Receivable In order to use the notes receivable account, the company must have a signed promissory note to back each borrower account. A promissory note stipulates the amount of debt owed by the borrower, the interest rate, if any, and the terms of payment. The note can be formal or it can be handwritten, dated and signed by the borrower. As long as there is a promissory note, the company should record the amount owed in the notes receivable account in the general journal. Any company, a sole proprietorship, a partnership or a large corporation can issue promissory notes and record the transaction in a notes receivable account. Companies that make Employee Advances If a company makes it a practice to advance wages to an employee, that company might ask for a signed promissory note that details how the employee will repay the advance. The amount of money the employee now owes qualifies as a notes receivable. Companies with Default Accounts Although...
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...Variable: Sales Commissions 10500 12000 10500 33000 Sales Manager Override 5250 6000 5250 16500 Advertising Expenses 24500 28000 24500 77000 Travel Expenses 14000 16000 14000 44000 Total Variable Selling Expense 54250 62000 54250 170500 Fixed: Sales Manager 5000 5000 5000 15000 Total Selling Expenses 59250 67000 59250 185500 Administrative Expenses: Variable: Utilities 1500 1700 1520 4720 Fixed: Administrative Salaries & Support 8000 8000 8000 24000 Insurance Expense 600 600 600 1800 Total Administrative Expense 10100 10300 10120 30520 Total Selling and Admin Expense 69350.00 77300.00 69370.00 216020.00 Company A Accounts Receivable For the Quarter Ended March 31, Year 11 Total January February March Collections November Sales 60000 60000 December Sales 120000 48000 168000 January Sales 91000 175000 70000 336000 February Sales 104000 200000 304000 March Sales 91000 91000 Total Monthly Collections 271000 327000 361000 959000...
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... Cash flows from financing activities Proceeds from capital injection 14 000 Dividends paid (14 000) Net cash from financing activities 0 Net increase in cash and cash equivalents 38 000 Cash and cash equivalents at beginning of the period (20 000) Cash and cash equivalents at end of the period $18 000 WORKINGS: Receipts from customers Accounts Receivable Balance b/d 28 000 Cash from customers 174 000 Sales 180 000 Balance c/d 34 000 208 000 208 000 Payments to suppliers Accounts Payable Cash paid 108 000 Balance b/d 48 000 Balance c/d 52 000 Purchases 112 000 160 000 160 000 Payments to suppliers and employees = $108 000 + $40 000 = $148 000Sale and purchase of equipment Equipment Balance b/d 60 000 Cost of equipment sold 12 000 Purchase of equipment 24 000 Balance c/d 72 000 84 000 84 000 Calculating the dividend paid Equity Dividends 14 000 Balance b/d 292 000 Profit 12 000 Balance c/d 304 000 Capital injection 14 000 318 000 318 000 Profit $12 000 plus Depreciation 18 000 Losses 14 000 Increase in Accounts payable 4 000 less Increase in Accounts receivable (6 000) Increase in Inventory (16 000) equals Net cash from operating activities $26 000 3. Leo et al. (2008) Question 13.14 Model solution from Leo et al. (2008) 1. Prepare a cash flow statement in accordance with AASB 107, using the direct method. GIDGEGANNUP LTD Cash flow statement for the...
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... | | | | | | | Date | Account | Debit | Credit | | | 1-Jul | Cash | 12000 | | | | | Common Stock | | 12000 | | | | | | | | | 1-Jul | Equipment | 8000 | | | | | Cash | | 2000 | | | | Accounts Payable | | 6000 | | | | | | | | | 3-Jul | Supplies | 900 | | | | | Accounts Payable | | 900 | | | | | | | | | 5-Jul | Prepaid Insurance | 1800 | | | | | Cash | | 1800 | | | | | | | | | 12-Jul | Accounts Receivable | 3700 | | | | | Service Revenue | | 3700 | | | | | | | | | 18-Jul | Accounts Payable | 1500 | | | | | Cash | | 1500 | | | | | | | | | 20-Jul | Salaries and Wages Expense | 2000 | | | | | Cash | | 2000 | | | | | | | | | 21-Jul | Cash | 1600 | | | | | Accounts Receivable | | 1600 | | | | | | | | | 25-Jul | Accounts Receivable | 2500 | | | | | Service Revenue | | 2500 | | | | | | | | | 31-Jul | Maintenance and Repairs Expense | 290 | | | | | Cash | | 290 | | | | | | | | | 31-Jul | Dividends | 600 | | | | | Cash | | 600 | | | | | | | | B. | | General Ledger | | | | | | | | | | | Cash | | | Date | Debit | Date | Credit | | | 1-Jul | 12000 | 1-Jul | 2000 | | | 21-Jul | 1600 | 5-Jul | 1800 | | | | | 18-Jul | 1500 | | | | | 20-Jul | 2000 | | | | | 31-Jul | 600 | | | | | 31-Jul | 290 | ...
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...from customers over the phone and arrange for shipping the orders via Federal Express, Canada Post and other freight carriers. The company is unsure how to classify your annual salary in its cost records. The company’s cost analyst says that your salary should be classified as a manufacturing (product) cost; the controller says it should be classified as a selling expense; the president says that it does not matter how your salary cost is classified. Required: Explain the effects of using each of the cost classifications recommended by the three individuals, and make a recommendation as to which one make most sense. Question 2: 30 marks: The trial balance of Tyne Co. as at 1st January was as follows: Cash | $ 7,000 | | Accounts receivable | 12,000 | | Raw materials inventory | 25,000 | | Work-in-process inventory | 5,000 | | Finished goods inventory | 10,000 | | Prepaid insurance | 1,000 | | Plant &...
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...Citizens Bank -liability i. The albums, tapes, and CDs held for sale to customers –assets Normal balance for: liability = credit revenue = credit asset = debit expense = debit 2. Basic journal entries The following transactions pertain to the Jennifer Royall Company: General Journal Date Accounts Debits Credit May 1 Cash $25,000 Land $15,000 Investment $40,000 Invested cash and land into business May 5 Revenue $1000 Accounts Receivable $1000 Provided service on account May 9 Wage Expense $1250 Cash $1250 Paid wages to employees May 14 Office Equipment $4200 Accounts Payable $4200 Purchased computer on account May 20 Accounts Receivable $800 Revenue $800 Received partial payment for services on May 5th May 24 Cash $2500 Loans Payable $2500 Borrowed 6 month loan from BestBanc 3. Balance Sheet Preparation Preston Company Balance Sheet December 31st 20XX Assets Cash $21000 Building $40000 Land $21000 Accounts Receivable $24000 Total Assets $106,000 Liabilities Loan payable $30000 Accounts payable $11000 Total liability $41000 Stockholder’s Equity J. Preston, Capital $65000 Total Stockholders’ equity $65000 Total Liabilities and equity $106000 4. Basic transaction processing Assets Liabilities Stockholder’s Equity Description Cash A/R Office /F...
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