Recognizing Differences Brandi Jones XACC/291 01/25/15 Nathan LePage Recognizing Differences Every business has assets that aid in keeping their business up and running. Assets are not intended for sale to customers, but instead are used in the operations of a business. It could be anything from property, land improvement, vehicles, equipment, buildings, etc. The cost principle in accounting requires that companies record their assets a cost, which includes all expenses
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Radio Shack Corporation; 2013 Annual Report Summary Principles of Accounting I/ XACC/290 August 17th, 2014 Radio Shack Corporation; 2013 Annual Report Summary Radio Shack Corporation, headquartered in downtown Fort Worth Texas, was founded in 1921 in Boston, Massachusetts by Theodore and Milton Deutschmann (Radio Shack Corporation, 2014). A company started with a specific mission of serving the needs of radio officers aboard naval ships, has over the years grown into a leading
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Internal Controls XXXXX XXXXXXX XACC/280 Financial Accounting Concepts and Principles January 2014 Internal Controls Internal Controls two primary goals are to protect their assets from employee theft, robbery, and unauthorized usage. Also to increase accuracy of the company financial information, reducing risk of errors whether they are accidental or intentional. Internal Controls also ensure compliance with federal, state, and local laws and regulations that affect the operations of a business
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Technologies and the accounting profession Jamie Lee XACC/210 May 18, 2014 Carla White Technologies and the accounting profession Technology is changing at a constant pace. Within people’s lives, it has become the norm to have the newest and greatest in technology and everything it has to offer. The same goes for companies and the technology that they have. One of the differences is that those companies need to have the newest and greatest when it comes to technology. Their business depends
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Dirt Bike Internet Accessibility XACC/291 Principles of Accounting II Natascha Bertrand February 9th, 2014 Internet Accessibility The motorcycle industry is one that customers expects for it to continuously grow and always utilize the most recent high quality performance products, materials, dirt bikes, and motorcycles. In order to consistently provide their customers with the best service and most impressive dirt bikes and motorcycles they need to implement an extensive database. This database
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Exercises Week 2 Melissa Platts XACC/290 August 9, 2015 Professor Lisa Pendleton Exercises Week 2 E3-4 A. Income Statement Nigel Company Income Statement August, 2015 1 $20,000 cash balance ,Common Stock increases 20000.00 2 1000.00 debited in cash and increase 5000.00 in equipment and 4000.00 owed A/P 3 750.00 debited cash increase to supplies 4 4100.00 cash, 5400.00 AR, 9500.00 service
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General Motors 1 General Motors Annual Reports XACC/290 Principles of Accounting l General Motors 2 General Motors is one of the largest organizations in the
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Accounting Information Systems Maxell XACC/210 August 08, 2014 Donna Tennyson Accounting Information Systems Companies or businesses have different information systems to assist in conducting the corporations’ daily financial operations. The various types of accounting systems employed by accounts receivable, payroll, accounts payable, and accounting in general are vast. These include common ones such as UltiPro, ADP Payroll services, and QuickBooks Payroll. Paychex Inc. is a payroll
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Financial Analysis XACC/280 June 29, 2014 Johnny Hamblin Financial Analysis The purpose for this analysis is to compare PepsiCo to Coca-Cola. This will be done by providing a summary of financial accounting information for each company. The information to compare each company comes from financial statements that were provided via Appendix A and B. Those numbers were then broken down into vertical and horizontal analysis as well as ratios. Once the ratios are calculated, an investor
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Exercise 2 Austin Miller XACC/290 4/18/2015 Alice Bergmann BE 4-1 A) The revenue for the airlines will be recognized when the flight is complete in December. This is because the customer can still cancel and get a refund. B) The revenue for home theater system cannot start to be recognized until the first payments are made one year later. C) The revenue for selling game tickets online for a season can be recognized right away as most season tickets are nonrefundable. The revenue can recognized
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