in a job order cost accounting system used by a service business, what itemswould normally not be included?
Other - Business & Finance - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Anything besides direct labour and direct materials would not be included. ----------- Not included: Indirect labour, overhead expenses like rent, utilities, etc., managerial and administrative salaries, and so on.
Answer 2 :
All those expenses which do not relate to a job will be excluded. Please remember that each job is recognized separately, hence all expenses, i.e., Direct Materials, Direct Labour and Overheads relating to each job will be included. The main point is the relationship of an item to the job. For example expenses incurred on Job # 101 will be charged to that job only. As another example, a business may hire an equipment to be used on a number of jobs. Now each job will be charged according to service rendered by the equipment on all such jobs using its service.
Read more other entries :
Wednesday, November 28, 2012
Wednesday, November 14, 2012
What must I do to write asset and liability and capital accounts?
What must I do to write asset and liability and capital accounts?
What is meant by this questions... How must I tackle the questions... It's a question from my module of accounting and financial analysis... Please reply me within a short period of time! I really need help!!!!!
Homework Help - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
i'm not exactly sure what you're looking for but i'll try to help. assets=liability + capital or owners equity a balance sheet would include these accounts assets are: cash, prepaids, supplies etc. liabilities are what you owe, or haven't earned: accounts payable, notes payable, unearned rent your capital is your worth hope this helps
Answer 2 :
I'm also not entirely sure of the question but I'll take a different tack...If you have simply a list of transactions in no particular order and you need to arrive at an income statement, the steps are: - open up T accounts for each relevant line of the income statement --cash - this will be the main one you use, probably --other asset types - buildings, fixtures and fittings, stock, debtors --liabilities - creditors, overdraft, loans --owners' equity - add details of the transactions into the relevant T accounts - add down the T accounts so that each one has a credit or debit (or 0) balance - prepare a 'trial balance' to ensure that the debit and credit sides net off - take the items from the trial balance one by one into the correct income statement format Hmm, a good 4 years since I've done that, I surprised myself there.
Read more other entries :
What is meant by this questions... How must I tackle the questions... It's a question from my module of accounting and financial analysis... Please reply me within a short period of time! I really need help!!!!!
Homework Help - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
i'm not exactly sure what you're looking for but i'll try to help. assets=liability + capital or owners equity a balance sheet would include these accounts assets are: cash, prepaids, supplies etc. liabilities are what you owe, or haven't earned: accounts payable, notes payable, unearned rent your capital is your worth hope this helps
Answer 2 :
I'm also not entirely sure of the question but I'll take a different tack...If you have simply a list of transactions in no particular order and you need to arrive at an income statement, the steps are: - open up T accounts for each relevant line of the income statement --cash - this will be the main one you use, probably --other asset types - buildings, fixtures and fittings, stock, debtors --liabilities - creditors, overdraft, loans --owners' equity - add details of the transactions into the relevant T accounts - add down the T accounts so that each one has a credit or debit (or 0) balance - prepare a 'trial balance' to ensure that the debit and credit sides net off - take the items from the trial balance one by one into the correct income statement format Hmm, a good 4 years since I've done that, I surprised myself there.
Read more other entries :
Wednesday, November 7, 2012
What do corporate bankers do? Is it the same as accounting?
What do corporate bankers do? Is it the same as accounting?
whats the avrage salary
Corporations - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
sell products for deposits/ lending-borrowing.render other services however proper accounting is done
Read more other entries :
whats the avrage salary
Corporations - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
sell products for deposits/ lending-borrowing.render other services however proper accounting is done
Read more other entries :
Thursday, November 1, 2012
Recommended books on accounting fraud?
Recommended books on accounting fraud?
Specifically books on how companies manipulate earnings, off balance sheet entities, mark to market stuff like that.
Other - Business & Finance - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Im sure this will definately help you.cheers! http://www.summaryworld.com/books/creating-accounting
Read more other entries :
Specifically books on how companies manipulate earnings, off balance sheet entities, mark to market stuff like that.
Other - Business & Finance - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Im sure this will definately help you.cheers! http://www.summaryworld.com/books/creating-accounting
Read more other entries :
Subscribe to:
Comments (Atom)