Write a memo to your supervisor explaining in your own words the concept of amortization as it is used in accounting. DATE: TO: FROM SUBJECT: Supervisor (Student Name) The concept of amortization In business, property, plant, and equipment wears out as it is used to create expenses leaving less and less of the assef's benefits for the future. Throughout the assets ife, accountants gradually transfer part of the to an expense account called

Write a memo to your supervisor explaining in your own words the concept of amortization as it is used in accounting. DATE: TO: FROM SUBJECT: Supervisor (Student Name) The concept of amortization In business, property, plant, and equipment wears out as it is used to create expenses leaving less and less of the assef's benefits for the future. Throughout the assets ife, accountants gradually transfer part of the to an expense account called

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Whi of the following transaction in hot of financial character? 1.Strike by employees. 2.Purchase of asset an credit. 3.withdrawing of money by proprietor from business. 4.Purchase of asset for cash.
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After a while, Brekdak as head of the Accounting Department, realized that the system of record that had been working for the last 2 years at PT. Suka Maju experienced a misstatement due to an error in adopting an estimate from the accounting records that turned into a straight-line method. With the changes of used in the depreciation estimation method, cause the company's performance to decline and how were errors found in the recording of the financial statement accounts. • As a professional auditor who found these errors during an audit, what suggestions and recommendations can you make based on the provisions of PSAK (Pernyataan Standar Akuntansi Keuangan or one of the accounting standards in Indonesia)? Which is the most appropriate PSAK to help you to give recommendations and briefly explain things related to the PSAK and why do you think the number of the PSAK is very appropriate as a guide to guide you in providing recommendations to Brekdak.• Do you consider that the change of…
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When a business owner sells merchandise to or provides a service for a customer on account instead of receiving cash (cash to be received at a later date), this is a type of asset called a/an ____________________. Group of answer choices liability owner’s equity accounts receivable none of these
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Why salary is an expense and supplies is an asset? The book noted that when a cash expenditure that will benefits more than one accounting period usually is recorded by debiting an asset account. So what if I pay the whole year staff's salaries all at once, would it be an asset then?
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Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Identify the current liability associated with each of the following operating activities 1-Perform work on a warranty claim 2-Pay income taxes 3-Purchases supplies 4-Pay payroll taxes 5-Borrow money for operations using a short term note 6-Process cash received in advance from customers 7-Purchase inventory 8- Pay employee salaries