Ba220 Financial Accounting Exercises 1-6a Through 1-9a on P. 33 Exercises 1-11a and 1-12a on P. 34 and 35

In: Business and Management

Submitted By tlc11
Words 359
Pages 2
Respond to the following:
1. Why is the knowledge of accounting concepts and terminology useful to anyone in a business activity?
2. Is there a difference between bookkeeping and accounting? Discuss.
3. Accounting reports past performance. How can this be useful when planning future operations?


a. Cash
+ Stockholders’

$4,000.00 $9,000.00 $13,000.00 $6,000.00 $6,000.00 $9,000.00 $15,000.00 NA
Bal. $10,000.00 $18,000.00 $28,000.00 NA




Indeed, the accounting equation could be written as:

+ Stockholders’

Bal. $4,000.00 $9,000.00 $13,000.00 $6,000.00

Assets = Liabilities + Stockholders’ Equity
Cash = Note Payable + Common Stock + Retained Earnings
156,000 = 85,600 + 52,400 + ?

Retained Earnings = $18,000.00

b. & c.
Post Company
Effect of 2014 Transactions on the Accounting Equation

Assets = Liabilities + Stockholders’ Equity Notes Common Retained
Event Cash = Payable + Stock + Earnings
Beginning Balances
1. Earned Revenue
2. Paid expenses
3. Paid dividend
Ending Balance

Cash = Note Payable + Common Stock + Retained Earnings

Liabilities + Stockholders’ Equity =

e. Beginning/Ending Cash Balance= $156,000/$169,000
Beginning/Ending Common Stock=$52,400/$52,400

The balances of cash differ because there were transactions that were made, revenue, expenses, and dividends. Common Stock did not change because assets distributed to stock holders are not used for purposes of generating revenue and dividends are not an expenses. The dividends are a transfer of earnings, not a return of the assets acquired from the issue of common stock.

Foster Corp.…...

Similar Documents

Exercise 1

...1. A vacuum gauge indicates that the pressure of air in a rigid vessel is 0.2 bar (vacuum). The pressure of the atmosphere is equivalent to 750 mm column of mercury. Given: Density of mercury is 13.59 g/cm3. i. Sketch the system with appropriate labels. ii. Determine the atmospheric air pressure, in bar. iii. Calculate the absolute pressure of the air in the vessel, in kPa. (Ans: 1 bar; 80 kPa) 2. A gas is contained in a vertical, frictionless piston-cylinder device, as shown in Figure 1.1. The piston has a mass of 4 kg and cross sectional area of 35 cm2. A compressed spring above the piston exerts a force of 60 N on the piston. If the atmospheric pressure is 95 kPa, determine the absolute pressure inside the cylinder. (Ans: 123.35 kPa) Figure 1.1 3. The gage pressure of the air in the tank shown in Figure 1.2 is measured to be 65 kPa. Determine the differential height h2 of the mercury column. (0.47 m) Figure 1.2 4. The absolute pressure inside a tank is 0.4 bar and the surrounding atmospheric pressure is 98 kN/m2. What would the reading be on a gauge pressure attached to the tank, in kPa. [-58 kPa] 5. A barometer reading indicates that the atmospheric pressure is 730mm Hg. Determine the pressure in bar. (Density of mercury is 13600 kg/m3 and earth’s gravity is 9.81 m/s2). [0.974 bar] 6. A ......

Words: 352 - Pages: 2

Rothaermel Exercise 1

...Rothaermel Exercise 1 BUSI 690 29 June 2014 Discussion Question 1.1 (2 parts to this question): 1.1. A strategy is a term used to describe the firm’s “overall efforts to gain and sustain competitive advantage” (Rothaermel, 2013, p. 9). The “translation of the strategy into action takes place in the firm’s business model, which details the firm’s competitive tactics and initiatives” (Rothaermel, p. 11). Basically, a strategy will explain how a firm will make money but the difference between a strategy and the business model is the business model explains how the firm intends to make the money AND puts it into action; the strategy just gives the theory. Business models put strategy into action. A strategy focuses on the company in relation to its competition and the business model focuses on the company in isolation. 1.1a. How they are similar is both business strategies and business models look toward a firm’s future and are both essential in decision-making within a company. A firm’s strategy and business model working hand in hand becomes the nuts and bolts behind how a firm intends to achieve its overall goal, which is to make and increase profit. Discussion Question 1.2 (3 part to this question): 1.2a. Crowdsourcing is defined as “the practice of obtaining needed services, ideas, or content by soliciting contributions from a large group of people and especially from the online community rather than from traditional employees or suppliers”......

Words: 1732 - Pages: 7

Nt1310 Unit 1 Exercise 1

...Unit 1 Exercise 1 Local Exchange When you send an email from New York to Japan, that email,is sent from your home to the local exchange point over the access network. Once it is in the local exchange it is then sent to aggregating points in different cities and counties over the regional network. Then it is aggregated and transported over the long-haul network so that it reaches the launching point at the country shoreline where it is then sent over the ocean network to Japan. Once there, the email is sent back over the long-haul or regional network to the local exchange and then on to the individual receiving the email. This occurs using mostly fiber optics so the speeds at which all this takes is at the speed of light which is approximately 127,000 miler per second. understand how to interface with the local exchange you must first understand the different networks that comprise it. The first network, being the access network. The access network is the network that connects the individual user or business with the telecommunications system. This is made up of a series of fiber-optic and copper cabling and passive and active equipment that connects you to the local exchange. The central office at the local exchange contains the switching equipment to direct your telephone, data , video, etc. to where it needs to go. The access network is very important to the local exchange since it’s the part that reaches the end user, who is you, and connects them. The metro network,......

Words: 339 - Pages: 2

Unit 1 Exercise 1

...NT1310 Unit 1 Exercise 1 6/17/14 The world is connected more than ever through the use of the internet. From paying bills to shopping or enjoying leisure time on the web; taking advantage of the internet has become second nature to society. Focusing in on one specific type of networking entertainment, online gaming has become a major league sport in its own right. Online gaming allows people from all around the world to connect together to team up or fight against one another. Behind the scenes is where the real magic happens. Between the gamers sits countless devices and hardware not to mention miles and miles of land. Using Call of Duty as an example, each gamer has a copy of the map being played on installed onto their local computer. Every time the gamer moves the direction of their character, their data is sent from their machine to their router, and then out past the demarc point. On the other side of the demarc is where the service provider picks up the data and moves the data from local network to the central office (better known as the local exchange). The central office then sends the data over the MAN (metro area network) or WAN (wide area network) to continue the data to game server. If the data hasn’t reached the server yet (for example the gamer lives in Michigan and the server is in California) the data will be passed over the core (also known as long-haul) network which connects MANs and WANs of different geographies together. On the off......

Words: 398 - Pages: 2

Leadership in Sport P-1

...DISTINCTION | D1 analyse four qualities, four characteristics and four roles common to effective sports leaders | Assignment Checklist Before you hand in your assignment make sure you have; | Please tick | * Included and completed the front sheet | | * Referenced all your work as appropriate | | * Typed and 1.5 line spaced your work | | * Included all the key words for the pass criteria | | If you cannot tick all boxes, do not hand your work in as it will not pass Task 1a You need to describe and explain four qualities, four characteristics and four roles of an effective sports leader (P1 & M1): Complete the tables below ensuring you use examples of famous sports leaders. Select a quality (#1): Knowledge of sports skill | Describe the meaning of this quality? (P1)Having an extensive knowledge and understanding of your chosen sport, often a coach has to have a better knowledge of skill then the players he is coaching so players will be able to learn from the coach, also it is being able to understand all the skills needed for the chosen sport so players have a better chance of increasing their skill level and ultimately winning. | Explain how a sports leader would meet this quality and why it is important for successful leaders to possess it? (M1)A sports leader would meet this quality by attending coaching courses which would provide the leader with training drills and an understanding of tactics which would help to get......

Words: 4789 - Pages: 20

Nt1420 Unit 1 Exercise 1

...Unit 1 Exercise 1 An analog signal is any continuous signal which the time varying feature (variable) of the signal is a representation of some other time varying quantity, i.e., analogous to another time varying signal. A digital signal is a physical signal that is a representation of a sequence of discrete values (a quantified discrete-time signal), for example of an arbitrary bit stream, or of a digitized (sampled and analog-to-digital converted) analog signal. Half-duplex data transmission means that data can be transmitted in both directions on a signal carrier, but not at the same time. Full-duplex data transmission means that data can be transmitted in both directions on a signal carrier at the same time. A ring network is a network topology in which each node connects to exactly two other nodes, forming a single continuous pathway for signals through each node - a ring Long-distance telephone company, such as MCI (before its absorption by Verizon), Sprint and the former AT&T Corporation (before its merger with SBC in 2005). In the United States, it is defined as any carrier that provides inter-LATA communication, where a LATA is a local access and transport area. Long Distance central office, central office (CO) is an office in a locality to which subscriber home and business lines are connected on what is called a local loop. Tandem, telephone switch is a U.S. telephone company central office telephone exchange used to interconnect local exchange......

Words: 263 - Pages: 2

Nt1310 Week 1 Exercise 1

...1. A. A local loop is a loop of copper wire that allows a current to flow from a telephone to the central office and back. It is a dual-wire physical interface that connects a telephone to the central office and are typically referred to as a twisted pair. Many of these pairs are twisted together to make a cable for a local loop to provide multiple connections for multiple phone to interface with the local central office. b. A Central office is a building to which a subscribers home and business lines are connected to a local loop. This office has telecom. Switches to switch calls locally or to a long-distance carrier. A central office is also referred to as a local exchange. The subscribers associated to each central office in their local are identified by the first three digits of their telephone number, however, the last four digits identify the specific subscriber. One central office can support up to 10,000 subscribers with the same three digit prefix. Central offices can also support more than one local exchange. c. Local exchanges or local exchange carriers are telephone companies that provide service within a designated geographical area or an LATA, local access transport area. One LEC serves multiple central offices depending upon the geographical size and the population of the area. d. A POP or point of presence in a telephone system is the point where either an LEC or a long distance carrier meets another long distance carrier...

Words: 1621 - Pages: 7

Unit 1 Exercise 1

...Composition 1 Composition 1Composition 1didnt didn’t didn’t didn’t did nt didi did did did did did did did did did did did did did did did did did idid id idi did idid did did did dmdidi didid idid idid didid didid didi didididid didiid dididid iediddjiiiiiiiiiii did did didi did idid didi dd didi didii didid didid dddid didid didid diid idid idid idid ididididi did ididi idid ddi didi didi didi idid didid did dididi didid didid didi diid didid didi did idi did id id id I I did id id id id id I ii ii I I I I j j j j j j j d djdjd jdj du dudu dudu dud dud ud dudu dudud dudu dudud dud didi didi diid did idid didi didi did did idd didi diid d idid idi didi idi diid idi did did did id did did id di did did idid ddi didi didi didi did did did did did did did did didid didid didid didid didid did did did dd did id did did did di did di did did did did didi did didid did didid didi did d did did did dd didid did did did did di did did did did did did did did did did did did did did did didid did id did did did did dd did did d did did did did did did did did did did ddid did di didid id diidi di did idid dd ...

Words: 253 - Pages: 2

Nt1330 Unit 1 Exercise 1

...IP Addressing Scenario Unit 1 Exercise 1 ITT Technical Institute Floyd Washington Jr. April 4, 2015 When setting up a network that will consist of many host computers, one of the first things that an administrator must do is to determine what class of networks that they must administer to a given business. This is the point where every administrator must know how to implement classful and classless IP addressing. A classful network is a network addressing architecture used in the internet from 1981 until the introduction of Classless Inter-Domain Routing (CIDR) in 1993. Classful IP addressing divides the addtess space on the internet into five address classes. Each class is coded in the first four bits of the address. Today the classful network concepts remain in play only limited scope of the default configuration parameters. There are 32 bits contained in any IPv4 IP address. A Class A network has eight bits in the network number field and 24 bits in the rest of the field and covers a range of 0-126 in the leading field. There are 128 Class A networks with 16,777,216 hosts capability per network. The range of the Class A networks are to A Class B network has 16 bits in the network number field and has 16 bits in the rest of the fields and covers a range from to There are 16,385 Class B networks and each network has the capability of having 65,536 network hosts. A Class C network has 24bits in the network......

Words: 756 - Pages: 4

Rothaermel Exercise 1

...Rothaermel Exercise 1 Perry Blankenship Liberty University Chapter 1 1. How is strategy different from a business model? A) Rothaermel (2013) defines a strategy as: “The goal-directed actions a firm intends to take in its quest to gain and sustain a competitive advantage,” (p.6). Rothaermel also defined a business model as: “An organizational plan that details the firm’s competitive tactics and initiatives, or how the firm intends to make money,” (p.11). The strategy is the theory the organization plans to utilize in achieving their goals while the model is their actions of implementing their strategy. Casadesus-Masanell and Ricart (2010) explained in their research that the strategy of a business is implemented by the leaders in choosing the business model they will follow. When organizations are looking for what customers they will reach and what the customer values, they are utilizing a business model. When they want to achieve the goal of reaching these customers they must develop a strategy for achieving that goal. B) How is it similar? Both the strategy and the business model strive to achieve the organizational goals and give the organization a competitive advantage. “The business model is the reflections of the realized strategy,” (Casadesus-Masanell and Ricart, 2010, p.204). 2. Why do you think Dell is keen on offering this service? A) The new crowdsourcing allows the consumer to have more control of the design and development of their......

Words: 1771 - Pages: 8

Exercise #1

...1) If 5 times the value of a number is increased by 3, the result is 28. What is the number? * 5x + 3=28 5x = 25 x = 5 2) If 4 times the reciprocal of a number is 3 more than 5/2 times the reciprocal of that number, find the number. * 4 × 1x=52×1x + 3 4 = 52+3x→ 82=52+3x 32=3x ½ = x 3) John had $30,000 to invest. He invested part of this money in bonds paying 12% annual simple interest and the rest of the money in a savings account giving 4% annual interest. At the end of the year, he received $2,400 as extra income. How much money did John place in each investment? .4x + 12(30000 – x) = 2400 8x/8 = 1200 .04x + 12(30000) - .12x = 2400 x = 1500 .04x + 3600 - .12x = 2400 15000-30000=15000 .12x - .04x + 3600 = 2400 Total invested at .12 = $15,000.00 .08x + 3600 = 2400 At .04= $15,000.000 .08x + 3600 – 3600= 2400 – 3600 15000 x .04 = $600.00 8x = 1200 15000 x .12 = $1,800.00 1,800.00 – 600.00 = $2,400.00 4) The length of a football field is 180 feet more than its width. If the perimeter of the field is 1,060 feet, find the length of the field. x = y + 180 2x + 2y = 1060 x = 175 + 180 2(x+180) + 2y =1060 x = 355 2y + 360 + 2y = 1060 y = (1060 -360) / 4 y = 175 5) At a school choir concert, 256 students are standing in rows. If the number of students......

Words: 672 - Pages: 3

Week 1 Exercise 1

...1) Describe a local land line phone system based on the following Landline Telephone Components: a. Local Loop - is the physical link or circuit that connects from the demarcation point of the customer premises to the edge of the common carrier or telecommunications service provider's network. b. Central Office - is an office in a locality to which subscriber home and business lines are connected on what is called a local loop. The central office has switching equipment that can switch calls locally or to long-distance carrier phone offices. c. Local Exchanges - is a regulatory term in telecommunications for the local telephone company. In the United States, wireline telephone companies are divided into two large categories: long distance (interexchange carrier, or IXCs) and local (local exchange carrier, or LECs). d. POP - is an artificial demarcation point or interface point between communicating entities. It may include a meet-me-room e. Long Distance System - a network of terminals and servers over a long distance, for example if your company has two different offices on the other side of the country, then you would have a long distance system. f. Fixed Line - denoting or relating to telecommunications systems using cables laid across land, as opposed to cellular radio systems. 2) Define and describe the following Telecommunications Network Components: a. Cellular Telephones: i. Voice - a telecommunication device that......

Words: 758 - Pages: 4

Exercise 1

...Exercise 2 Worksheet: Explain Classroom Interactivity Save this worksheet to your computer with the filename "Your_Name_Exercise_2." Complete the table below by doing the following:

Fill in the table by adding your answer to each question. Submit the completed worksheet as an attachment via the Assignment tab. Question about Classroom Interactivity Your Answers Why is it important for you to check your UOPX email account regularly as a student?
 By checking my UOPX account regularly I am able to stay up to date with all notifications and become aware of any upcoming or missed events. I plan to port forward all of these emails to my main email that way I can even receive these notifications on my phone as well What is the difference between the activity stream and Classroom Discussion?
 Everything that happens in the classroom is displayed within the activity stream, meaning all messages and and assignment discussions. In the Classroom Discussions page, only class messages and private messages are showed. There is also no filter to sort your messages. How do you respond to Learning Activities?
 By clicking on the “Write a Message” icon you can start a new thread containing a message about your learning activities. You can also simply post on already created threads How do you attach and submit assignment files?
 Next to the “Instructions” tab is an “Assignments” tab in which assignments can be submitted with the correctly stated titles Which of the......

Words: 449 - Pages: 2

4 Es and 1 P

...I will provide examples of occasions during my career when I demonstrated my strengths, and when my weaknesses came into play. Introduction Using Jack Welch’s 4Es and 1 P, I will provide a candid assessment. Jack Welch uses this framework because he found this was consistently effective, year after year, across businesses and borders (J. Welch, & S. Welch, n.d.). Therefore, this assessment will include my strengths, weaknesses, and what I can do to improve my performance. This document will provide examples of occasions during my career when I demonstrated my strengths, and when my weaknesses came into play. Energy Energy is one of my fundamental character traits. Several of my performance appraisals describe my energetic attitude toward getting the job done and leading my team. My supervisors have loved having me work in their organization because I bring energy to the team, and it is contagious. Actually, I have had supervisors tell me to treat my job as a marathon and not a sprint because they do not want me to get burned out. I then inform them that I am always this energetic and will be as long as I am around. I demonstrated my high energy level when I was a human resources leader on a deployment in the war zone. When we are in the war zone, we sleep, eat, work, and exercise on the base; therefore, everything is within a 30 mile radius. Military time will be used for this itinerary for ease, so 0:00 is midnight and anything after 12:00 pm,......

Words: 2097 - Pages: 9

Exercise 1

...other two – battling drugs and criminality and forging of peace agreements with rebel groups. He said that they will ask Congress to call for a constitutional convention to start with the drafting of a new constitution. Laviña said that they expect members will be convened by early next year so they can start with the draft and hold national consultation with stakeholders, including Filipinos abroad. “That will require a wide national consensus beginning with the asking of Congress to call for a constitutional conventional electing our delegates in a democratic way. We will undergo a national study of these proposals,” he said. Once prepared and approved, Laviña said they will present the proposal to the Filipino people to be voted upon through plebiscite, which is being initially planned either earlier than or simultaneous with the 2019 midterm elections. He said if things get going in the first few months of the Duterte administration, then plebiscite could be held simultaneously with the Sangguniang Kabataan elections in October 2016. “But of course we have to deal with the new Congress,” he added. Laviña said that Duterte made it a point that his immediate acts as incoming president would be to ask Congress to pass a law calling for a constitutional convention to start the process by electing the new framers of the constitution. If push comes to shove, he said only then that new regional states will be set up and ready from 2019 to 2022, the last three years of the......

Words: 11531 - Pages: 47