The financial information of mosely accounting services
Marian Mosely is the owner of Mosely Accounting Services. Which accounting principle requires Marian to keep her personal financial information separate from the financial information of Mosely Accounting Services?
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When you are preparing journal entries and the event is $4,000 in supplies were used, how do you record that as a debit and a credit? I assume that you would credit the $4,000 to supplies but what would you debit to make it balance?
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Explain how reported accounting numbers might affect an individual's perceptions and actions. Cite two examples. CA1-7 Some argue that having various organizations establish accounting principles is wasteful and inefficient.
Williams Corporation purchased a depreciable asset for $400,000 on January 1, 2010. The estimated salvage value is $40,000, and the estimated useful life is 9 years.
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Expenses for the year were $22,000, Dividends declared totaled $13,000, Ending Equity for the year is $181,000 and Beginning Assets for the year were $222,000.
Find the accounting return on investment for a project that costs $10,000, will have no salvage value, and has expected annual after tax profits of $1000
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