Depreciation

of December 31, 2011. BUG-OFF EXTERMINATORS December 31, 2011 Unadjusted Trial Balance Cash 17,000 Accounts receivable 4,000 Allowance for doubtful accounts 828 Merchandise inventory 11,700 Trucks 32,000 Accum. depreciation-Trucks - Equipment 45,000 Accum. depreciation-Equipment 12,200 Accounts payable 5,000 Estimated warranty liability 1,400 Unearned services revenue - Interest payable - Long-term notes payable 15,000 D. Buggs, Capital 59,700 D. Buggs, Withdrawals 10,000 Extermination

Task 1 1. A roll forward is an important test in relation to year-end balance of gross PPE. It is necessary for the auditor to have assurance about the amount on the year-end 2011 balance sheet. However, a majority of the dollar amounts on the balance sheet should have been tested in the previous year. Roll forward allows the auditor to asses any activity since the last recording on the balance sheet. The mathematical accuracy is crucial because if the numbers are off, the auditor could be tested

Namibia fiscal regimes Fiscal Analysis Mabel Nwokolo 2016 1. INTRODUCTION Namibia is found in the southern region of Africa. Initially ignored by international petroleum companies. However, in recent times has been called as one of the last frontiers of oil and gas exploration. Namibia is a democratic state that has a multi-party system of government. The executive, judiciary and legislative powers comprises of Namibia system of government. The Namibian oil and gas industry

+8000(1-30%) Equipment =131700 Consideration transferred = 137200 Goodwill =137200- 131700 =5500 2. BCVR entries at 30 June 2010 1) Machinery Depreciation expense-machine Dr 100

History: Delta Airlines was founded in Macon, Georgia, with the name of Huff Daland Dusters, which was a crop-dusting operation in the 1920s. Delta Airlines was the first commercial flying company in existence. Delta Airline has had many names over the years, but became “Delta Airlines, Inc,” in the 1940s after going to war. They had many first beginnings, to name more of those first beginnings: visual inspection with a portable x-ray machine, bring passengers to a hub airport, launch the Douglas

Chapter 8 1) In a perpetual inventory system, the cost of purchases is debited to: Purchases. Cost of goods sold. Inventory. Accounts payable. 2)In a periodic inventory system, the cost of purchases is debited to: Purchases. Cost of goods sold. Inventory. Accounts payable. 3)In a periodic inventory system, the cost of inventories sold is: Debited to accounts receivable. Credited to cost of goods sold. Debited to cost of goods sold. Not recorded at the time goods are

Financial Accounting Summary Financial Accounting – Summary Notes Financial Accounting – Summary Notes 1 Financial Statement Basics 3 Understanding of the 3 financial statements – (balance sheet, income statement and statement of cash flows). What does each financial statement represent? 3 What is the structure of each statement? 3 What is the link between the three statements? 4 Understanding of the basic mechanics of financial accounting – (debits, credits, transaction journal entries, adjusting

that the president did not want to record the depreciation of some of its assets in the past. Since depreciating, the asset will give shareholders the impression, that the asset has a low value. When the asset is actually increasing in value, according to the president. The major issues are that the president wants to either, not to record the depreciation or write amounts that best suits the company. The limitations are that you must record depreciation on an asset and the figure must be correct

the decrease in the percentage estimated. Depreciation expense- Depreciation did increase from the prior year, but not to the extent which would have been expected.  Peach Blossom made many equipment purchases in office, auto, and machines all increasing from the prior period.  It would be expected to have increased at a higher rate.  The audit team must figure out which method of depreciation Peach Blossom is using and make sure first year depreciation on assets is being calculated. Assessment

Chrome-It, Inc., manufactures special chromed parts made to the order and specifications of the customer. It has two production departments, stamping and plating, and two service departments, power and maintenance. In any production department, the job in process is wholly completed before the next job is started. The company operates on a fiscal year, which ends September 30. Following is the post-closing trial balance as of September 30: [pic] .:. Additional information: 1. The balance of the