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JAMONA CORPORATION
Jamona Corporation
Jamona Corporation
Introduction
The main purpose of this paper is to prepare the general journal entries of Jamona Corporation and with appropriate backup lead schedules for investments, inventory, fixed assets, and capital leases.
Discussion
General Journal Entries
For the Year 2006-2007
Date
Accounts
Debit
Credit
1/6/2006
Purchase of bonds
300,000
322,744
Cash
622,744
Cash
30000
32274.4
Bond Yield
62274.4
Interest Expense
36000
38729.28
Cash
74729.28
31/3/2007
Inventory Purchased (FIFO)
44600
Cash
44600
6/7/2007
Land
400,000
Building
1,200,000
Machinery and equipment
800,000
Shares
2100000
Cash
300,000
15/12/2007
Repairs to building
$105,000 ...
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ECONOMICS AND ACCOUNTING
Economics and Accounting
Business description
I have a plan to start a “Sport Retail Outlet” with the name of “Jocky Sports”. At Jocky Sports, all kind of items (e.g. Polo gloves, Polo Helmet and Shoes) that are used in “Horse Riding” would be sold, and these items will be ...
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Understanding Information
Understanding information
Understanding information
The data set consists of variables that are involved in the hospitality trade for the year 2009. Four variables are encountered to find out the best results, total employment cost (dependent variable) has been correlated with other independent variables. Each variable comprises on the 12 different activity ...
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AUDITING
Audit Opinions
Audit
Introduction
As the scenario is describing that, the Kobyashi Moru has recorded its inventory, fixed assets, and depreciation, and the cost of goods Sold at the market value, at which the financial statements prepared. The general Accounting principle suggests that the goods and services purchased or served must ...
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ECONOMICS - ACCOUNTING
Economics - Accounting
Economics - Accounting
TASK I: GUIDANCE MANUAL
What are IFRS?
The "International Financial Reporting Standards" (IFRS) are a set of international reporting rules, ratified by the European Commission, that Companies with securities listed on regulated markets of Member States of the European Union are required to adopt for their ...
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ABC COSTING SYSTEM
ABC Costing System
ABC Costing System
Activity Based Costing (ABC) System serves as an alternate to the company's usual costing system. It provides manager with a helpful tool that aids in making strategic decisions and controls the fixed costs. ABC costing system is especially helpful for decision making that ...
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MANAGING RISK IN A GLOBAL CONTEXT
Managing Risk in a Global Context
Managing Risk in a Global Context
Question 1: Marsh & McLennan Companies (MMC) Risk Contingencies
Marsh & McLennan Companies (NYSE: MMC) is a global professional services holdings company, providing a diversified set of businesses in risk, strategy and human capital. ...
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NEXT PLC
Next Plc
Next Plc
Introduction
This Report should give the reader an overview of the clothing retail market in general and an in-depth analyse of NEXT Plc in detail. The main emphasis in this essay is the financial analysis of NEXT Plc because they are the cash generators. Furthermore it shows ...
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CONTEMPORARY ISSUES IN ACCOUNTING
Contemporary Issues in Accounting
Contemporary Issues in Accounting
People have curiosity over the world, including information such as how it operates. The information derived from the world can affect people's behaviour. This also holds true in the financial world. However, there has been debate about the approaches ...
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BUDGET PREPARATION IN PUBLIC GOVERNMENT
Budget Preparation in Public Government
Budget Preparation in Public Government
Q1. What changes should be made to the town's financial management process?
Effective financial planning enables the management to run operational matters smoothly. This could be done easily through an effective financial management policy that addresses all components of financing ...
