...Journal Entries: Reflection and Reader Response • Journal Entry 1: “What does it mean to be a soldier?” (Reflection/RR) • Journal Entry 2: “Only the dead see the end of war…” (Reflection/RR) • Journal Entry #3: “How does being a solider change a man (or woman)? Are people changed for better or worse or both? What is the effect on the person, and what is the effect on the nation?” (Reflection/RR) • Journal Entry #4: “Reflect on the duality of words. How do words hold infinite power in their ability to simultaneously create and destroy? How do words affect conflict? How do they affect people?” (Reflection/RR) • Journal Entry #5: “Who or what determines our respective identities? Who or what makes you who you are? Why? How? Is it fair? Do we have control over who we are? Who we are perceived to be?” (Reflection/RR) • Journal Entry #6: “What does Oscar Schindler prove about people amid war and destruction? What characters have we encountered thus far in the semester who could also fit into this category? Why is it so important we remember them and tell their stories?” (Reflection/RR) • Journal Entry #7: “What does it mean to have courage? Is it truly more honorable to die than to live? Is this always the case? If not, reflect on the ambiguity of such a statement.” (Reflection/RR) • Journal Entry #8: “What tangibles and intangibles do you carry with you every day? Why are they important to you?” (Reflection/RR) • Journal Entry #9: “In your opinion, can there...
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...Topic 6 Journal Entry: Priorities Katy M. Digby Grand Canyon University: UNV 303 March 16, 2014 I have a couple of personal obstacles in each category but to name one would be my family time. I enjoy after work spending time with my daughter and helping her out with her homework. This still gets done but I have noticed she is relying more on herself now that my time has been strained. Professionally I have made a few phone calls to the college and received some as well during work hours. Fortunately my boss is accommodating since I am improving my career with a higher education. The main academic obstacle I have had is re-organizing my agenda to be able to assign time for class work. I am forfeiting a little bit of time in those two departments to make time for school. Deciding priorities is done so in a manner of importance. I make a mental list of things I need to complete ranging from top priority to not so important. For instance I rate grocery shopping higher on the list than getting my nails done, or paying rent supersedes paying for college books. Some decisions are more difficult than others but if I can identify its importance I can place it in my mental list. Prioritizing school is as simple as making a plan, rating it in my mental list, and then doing the task. If I implement what I just mentioned school will be a breeze with limited sacrifice and stress. This will result in a higher GPA and will have a "snowball" effect and motivate me to continue...
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...Over the last 500 years, the double-entry system of accounting has provided the accounting profession with a reliable and accurate way of tracking the economic events of companies. However, with the implementation of computer-based accounting systems over the last few decades, event based accounting has gained popularity. The theory behind event based accounting is that each business transaction can be broken down into one, or a combination of three types of events: economic, business, and information. An economic event is one in which the quantity of resources change, such as selling an item or purchasing a service. Events like receiving an invoice from a supplier, or sending out a purchase order to a vendor are examples of business events. They are necessary to the company even though they are not the monetary or physical transactions for goods or services. Tasks like creating reports and inputting new customers are considered information events. Information events provide the necessary data for the economic or business events that transpire. The double-entry system of accounting focuses on taking those separate events and aggregating them into journal entries. By aggregating them, a great deal of the total information of the event is left out. Under an event based accounting system each event is recorded with as much of the information as possible, and then stored in tables of data that allow the user to recall and compile this information into usable reports. This...
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...Accounting is the most basic framework of business. People use accounting in their daily lives when they study financial statements to make investment decisions, assess interest rather to pay off their house mortgage and calculate rates for car payments. God himself recognize accounting, for he said in his Holy Bible that everyone would be accountable before him when this world comes to an end.(Matthew 12:36) The practice of accounting can be traced back to ancient times, with "accounting books" of various forms discovered as early as 3500 B. C. From the time of 3500 B. C., accounting has progressed slowly through the development of the modern double-entry system published by Luca Paciolo in the fifteenth century until the advent of the computer. In 1581 the first college of accountants was organized with power to regulate entry into the field. Along with the development of modern accounting, a stereotypical image of the accountant was developed, because of its task being routine and purity mathematical in function. The accountant is view as a dull person that is chain to his desk all day. A survey of college students proved that accounting is treated with mental formulaic concepts, thus it has a stereotype image. Accounting may be defined as an information system that provides reports to various individuals or groups about economic activities of an organization or other entity. Accounting is information sciences used to collect, classify, and manipulate financial data for...
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...ACCT290 WEEK 4 REVERSING ENTRIES JOAN GAPP Journal entries are used to change accounting information in financial systems. Following the double-entry system used in modern accounting, these entries always affect at least two accounts -- one account is debited, while another account is credited. A reversing entry is a journal entry that inverts a previously recorded "regular" entry. The use of reversing entries is optional, but it offers certain advantages, making them very popular in the accounting world. When you reverse an entry made in a prior period, you prevent duplication of revenues or expenses, which improves accuracy. For example, you made an entry to recognize a phone expense last month as part of the closing of the month process. Now the bill has been entered in the accounting system, and an expense was again recognized. The reversing entry will zero out the expense, correcting the situation. Reversing entries related to period closing always are paired with entries from the past. You can enter a journal entry in January and reverse it in February to avoid duplication in February. You don't normally go back to January to reverse an entry done in February. Reversing entries is a simple process that can be performed by any employee without much knowledge of accounting. Basically, the account originally debited is now credited and vice versa. There's no need to research or conduct any calculations -- all you need to do is reverse the original entry using the same exact...
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...Discussion Board-First entry by 2359 pm Wed, last 2 entries by 0800 following Mon. | WED 2359 pmWeek 1 | | Week 1 Application Assignment – Getting Started & Specific ExpectationsWeek 1 Progress Monitor | MON 0800Week 2 | Journal | Week 1 Journal Entry | MON 0800Week 2 | Week 2 | Discussion Board -First entry by 2359 pm Wed, last 2 entries by 0800 following Mon. | WED 2359 pmWeek 2 | | Week 2 Application Assignment – Personal Philosophy of NursingWeek 2 Progress Monitor | MON 0800Week 3 | Journal | Week 2 Journal Entry | MON 0800Week 3 | Week 3 | Discussion Board -First entry by 2359 pm Wed, last 2 entries by 0800 following Mon. | WED 2359 pmWeek 3 | | Week 3 Application Assignment – Information Retrieval Paper, Part 1Week 3 Progress Monitor | MON 0800Week 4 | Journal | Week 3 Journal Entry | MON 0800Week 4 | Week 4 | Discussion Board -First entry by 2359 pm Wed, last 2 entries by 0800 following Mon. | WED 2359 pmWeek 4 | | Week 4 Application Assignment – Team Dynamics & Information Retrieval Paper, Part 2Week 4 Progress Monitor | MON 0800Week 5 | Journal | Week 4 Journal Entry | MON 0800Week 5 | *Week 5Assignments due Saturday 0800Journal | Discussion Board -First entry by 2359 pm Wed, last 2 entries by 0800 following Mon. | WED 2359 pm | | Week 5 Reflection – Nursing Philosophy & ContributionsWeek 5 Progress Monitor | SAT 0800Week 5 | | Post-Course Self-Evaluation | SAT 0800Week 5 | | Week 5 Journal Entry | SAT 0800 ...
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...Summary of A Doctor’s Journal Entry for August 6, 1945 by Vikram Seth A Doctor’s Journal Entry for August 6, 1945 by Vikram Seth is a remarkable poem describing the horrors of the aftermath of an atomic bomb explosion. This tragic poem describes the condition of the survivors of the atomic bombing by the United States on Hiroshima during the end of the World War II on 6th of August 1945. The narrator in the poem, A Doctor’s Journal Entry for August 6, 1945, is a doctor. The poem begins with a calm and serene note. The doctor says that it was dawn and he was in his bed, not fully clothed. When he stretched out and looked outside, he saw shining leaves and shadows. In the next moment, there were two sudden flashes of strong light and the old stone lantern in his room lit up by itself. The doctor wondered whether the flashes were magnesium flares seen during a war. In the next moment, the doctor finds out that the roof and wall of his building has collapsed and the debris were scattered all over. Dust covered up the whole place and clothes disappeared from his body. They were burnt. The doctor was wounded on his cheek, thigh and he was bleeding. A piece of glass had entered into his body which he removes ‘detachedly.’ He was wondering what suddenly took place and what had happened to him. The narrator called out his wife, ‘where are you, Yecko-san?’ Yecko-san looked pale, frightened and had blood stains on her body. The doctor assures his wife that they would be fine and they...
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...| | | Assets | = | Liabilities | + | Paid-in capital | + | Retained Earnings | (a) | $245,000 | | $245,000 | | | | | (b) | (60,000) | | | | | | (60,000) | (c) | 140,000 | | | | | | 140,000 | (d) | 0 | | | | | | | (e) | (225,000) | | (225,000) | | | | | A company that has a fiscal year-end of December 31: (1) on October 1, $25,000 was paid for a one-year fire insurance policy; (2) on June 30 the company lent its chief financial officer $23,000; principal and interest at 5% are due in one year; and (3) equipment costing $73,000 was purchased at the beginning of the year for cash. | Prepare journal entries for each of the above transactions. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) | Transaction | General Journal | Debit | Credit | 1 | Prepaid insurance | 25,000 | | | Cash | | 25,000 | | | | | 2 | Note receivable |...
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...Group Work – Chapter 7 1. Assume McGregor Inc. has the following account balances at December 31, 2014 – before adjusting entries: Refer to the information above for McGregor a. If McGregor uses the Balance Sheet Approach and estimates its bad debt for the year to be 6% of the Accounts Receivable balance, prepare the adjusting journal entry as of December 31, 2014. [54,000 * .06 = 3,240] DR CR Bad Debt Expense 3,740 Allowance For Doubtful Accounts 3,740 b. What is the Net Realizable Value of Accounts Receivable that will be reported on the December 31, 2014 Balance Sheet after the adjusting entry is posted? Accounts Receivable 54,000 Allowance for Doubtful Accounts (3,240) Net Realizable Value of AR 50,760 c. Assume, on January 8, 2015, JD Rhimes Inc. contacts McGregor Inc and says they have declared bankruptcy and will not be able to pay their Accounts Receivable debt of $2,000. Prepare the journal entry to write-off this customer’s account. DR CR Allowance For Doubtful Accounts 2,000 Accounts Receivable 2,000 d. What is the Net Realizable Value of Accounts Receivable on January 8, 2015 after the customer write off? [Assume no other activity has affected those accounts since December 31, 2014.] Accounts Receivable 52,000 Allowance for Doubtful Accounts (1,240) Net Realizable Value of AR 50,760 e. Does the write off affect the Net...
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...Journaling for Yourself 1. 1 Find something that can become your journal. You can use a notebook, legal pad, blank book, word processor or whatever you like for your journal. Just make sure that it contains blank pages you can write on, and that the pages are bound up so they won't scatter and get lost. Ads by Google One Man's Story Life was good but then it started falling apart. Then dad died. www.thoughts-about-god.com 2. 2 Find a writing tool. If you chose to use a word processor in Step 1, you can skip this step. If you're using an actual book, locate a pen you like. (You can use pencil to write in your journal, but it will fade dramatically over time.) Some journal-keepers have a particular brand of pens that they prefer, or they favor a certain style (such as gel pen over ballpoint). Either way, your writing implement should feel comfortable in your hand and help you write at a pace you enjoy. 3. 3 Set up a routine. You might want to carry your journal with you wherever you go, so that you can write down your thoughts as they strike you. Or you might choose a particular time each day to sit down and clear your head. Whatever you decide, make it a habit. Journaling as part of a routine will make you more likely to stick with it. 4. 4 Chose a setting that's conducive to writing. Place yourself in an environment that makes you feel like writing, whether it's the privacy of your own room or a busy coffee shop. If you're not sure where you like to...
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...format of an account resembles the letter T, we refer to it as a T account. Debits and Credits The terms debit and credit are directional signals: Debit indicates left, and credit indicates right.They indicate which side of a T account a number will be recorded on. Entering an amount on the left side of an account is called debiting the account. Making an entry on the right side is crediting the account.We commonly abbreviate debit as Dr. and credit as Cr. Double-entry accounting system • Each transaction must affect two or more accounts to keep the basic accounting equation in balance. • Recording done by debiting at least one account and crediting another. • DEBITS must equal CREDITS. If Debits are greater than Credits, the account will have a debit balance. If Credits are greater than Debits, the account will have a credit balance. The normal balance of an account is on the side where an increase in the account is recorded. The Journal Companies initially record transactions in chronological order (the order in which they occur). Thus, the journal is referred to as the book of original entry. For each transaction the journal shows the debit and credit effects on specific accounts. Ledger: A General Ledger contains the entire group of accounts maintained by a company Trial Balance: A list of accounts and their balances at a given time. Use of Dollar Signs Note that...
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...Problem 1 Record the following journal entries below. The first two are done for you as examples. Date Event 1/2/2010 Amanda Smith invested $20,000 cash in capital stock of newly formed corporation 1/4/2010 Purchased equipment on account for $15,000. Note that when you see on account it means the customer will pay later. 1/12/2010 Received $30,000 from customers for services rendered. 1/15/2010 Received a bill for construction supplies used in the amount of $4,000. 1/18/2010 Provided $6,400 of services on account. 1/20/2010 Paid employees $4,600 for wages earned. 1/22/2010 Collected the amount due for work provided on January 18. 1/23/2010 Paid the amount due on equipment purchased on January 4. 1/25/2010 Purchased (and used immediately) construction supplies for cash in the amount of $1,200. 1/31/2010 The company paid Amanda Smith a $3,000 dividend PROBLEM 2 Record the following journal entries below. Hint - some transactions do not require a journal entry Date Event 6/2/2011 Jose Alverado invested $50,000 cash in the capital stock of a new corporation 6/3/2011 Paid rent for June in amount of $2,000. 6/6/2011 Hired an assitant to be paid $6,000 per month. 6/7/2011 Signed contract with Alpha Company to provide services for $15,000. 6/8/2011 Purchased on account and immediately used $1,500 of office supplies. 6/9/2011 Received $5,000 from Alpha Company for services performed to date. 6/15/2011 Paid $2,400 travel expense...
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...Resources: Ch. 10 of Financial Accounting. Complete Exercise E10-6, E10-8, & E10-18. Complete Problem 10-3A & 10-6A. Submit as a Microsoft® Excel® or Word document. E10-6 According to the accountant of Ulner Inc., its payroll taxes for the week were as follows: $198.40 for FICA taxes, $19.84 for federal unemployment taxes, and $133.92 for state unemployment taxes. Instructions Journalize the entry to record the accrual of the payroll taxes. E10-8 Jim Thome has prepared the following list of statements about bonds. 1. Bonds are a form of interest-bearing notes payable. 2. When seeking long-term financing, an advantage of issuing bonds over issuing common stock is that stockholder control is not affected. 3. When seeking long-term financing, an advantage of issuing common stock over issuing bonds is that tax savings result. 4. Secured bonds have specific assets of the issuer pledged as collateral for the bonds. 5. Secured bonds are also known as debenture bonds. 6. Bonds that mature in installments are called term bonds. 7. A conversion feature may be added to bonds to make them more attractive to bond buyers. 8. The rate used to determine the amount of cash interest the borrower pays is called the stated rate. 9. Bond prices are usually quoted as a percentage of the face value of the bond. 10. The present value of a bond is the value at which it should sell in the marketplace. Instructions Identify each statement above as true or false. If false...
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..........2-2 Lesson 3: G/L Account Card Ribbon .......................................................................................................2-8 Lab 2.1: Create a Revenue Account ...................................................................................................... 2-11 Lesson 4: Chart of Accounts .................................................................................................................... 2-13 Lab 2.2: Assign a Dimension to Multiple Accounts ........................................................................ 2-16 Module 3: GENERAL JOURNALS Lesson 1: Creating and Posting Journal Entries ..................................................................................3-2 Lab 3.1: Create a Journal Entry ..................................................................................................................3-9 Lesson 2: Standard Journals...
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...examination currently. Points will be taken off for sloppy work or failure to properly format the answers. Problem 1: The following series of transactions occurred during 2004 and 2005 when Linwood Co. sold merchandise to John Moore. Linwood's annual accounting period ends on December 31. [pic] Prepare Linwood Co.'s journal entries to record the above transactions assuming they use the allowance method of accounting for uncollectible accounts. Problem 2: Prepare general journal entries for the following transactions of Viking Company, assuming they use the allowance method to account for uncollectible accounts. [pic] Problem 3: Cairo Co. uses the allowance method of accounting for uncollectible accounts. Cairo Co. accepted a $5,000, 12%, 90-day note dated May 16, from Alexandria Co. as in exchange for its past-due account receivable. Make the necessary general journal entries for Cairo Co. on May 16 and the August 14 maturity date, assuming that the: a. Note is held until maturity and collected in full at that time. b. Note is dishonored; the amount of the note and its interest are written off as uncollectible. Problem 4: Prepare general journal entries for the following transactions of this company for the current year: Apr 25: Sold $4,500 of merchandise to CBC Corp receiving a 10%, 60-day, $4,500 note receivable June...
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