Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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Question
Chapter 6, Problem 5R
a.
To determine
Prepare a chart with the given data and explain the objective of preparing the chart.
b.
To determine
Prepare a chart with the given data and explain the trend.
To determine
Prepare the analysis of aging
To determine
Prepare a 3-D column chart to show the total estimated uncollectible accounts expense.
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As the bookkeeper of a new start-up company, you are responsible for keeping the chart of accounts up to date. At the end of each year, you analyze the accounts to verify that each account should be active for acumulation of costs, revenues, and expenses.
In July, the accounts payable (A/P) clerk asked you to open an account named New Expenses. You know that an account name should be specific and well defined, and you're afraid the A/P clerk might charge some expenses to the account that are inappropriate.
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*Why do you think the A/P clerk needs the New Expenses account?
* Who needs to know this information and what action should you consider?
As the bookkeeper of a new start-up company, you are responsible for keeping the chart of accounts up to date. At the end of each year, you analyze the accounts to verify that each account should be active for accumulation of costs, revenues, and expenses.
In July, the accounts payable (A/P) clerk asked you to open an account named New Expenses. You know that an account name should be specific and well defined, and you're afraid the A/P clerk might charge some expenses to the account that are inappropriate.
Why do you think the A/P clerk needs the New Expenses account?
Who needs to know this information and what action should you consider?
Chapter 6 Solutions
Excel Applications for Accounting Principles
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