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accounting

For a recent year, TechMart reported sales of $51,583 million. Its Sales minus the cost of merchandise sold.gross

profit was $13,927 million.

What was the amount of TechMart’s cost of goods sold? (Enter answer in millions.)

 
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ACC 201 FINAL PROJECT PART I ACCOUNTING CYCLE REPORT

DELETE EVERYTHING THAT APPEARS IN RED

Review the Final Project Part I Guidelines and Rubric documentto see how your paper will be scored.

Be sure to follow APA format when providing references. If you have questions on APAformatting, you can check the Purdue OWL website or seek help from the SNHU Writing Lab.

Notes on APA in a Formal Assignment

  • Use one-inch marginson all sides.
  • Use 12-point Times New Roman font with double spacing.
  • Paragraphs should be at least three to four sentences in length.
  • Do not include the headings “Introduction” and “Conclusion.”These are included below to help you lay out your paper.APA format assumes that the introduction begins the paper, the body continues the paper, and the conclusion wraps up the paper, so those headings are not needed.
  • Indent the first line of every paragraph by 0.5”.
  • Be careful not to use personal pronouns such as “I.”

Make sure to delete headings such as Paragraph One, Paragraph Two, and so on.

Be sure to replace all of the text in red with your own writing.(This entire first page can be deleted after you review the guidelines.Your paper should begin with the title page that follows.)

ACC 201FinalProject Part IAccounting Cycle Report

YourName

Southern New Hampshire University

REMEMBER: DELETE EVERYTHING THAT APPEARS IN RED

Introduction(delete this heading in your final paper)

In your opening paragraph, very briefly introduce the purpose of your paper.Recall that you will be discussing the accounting cycle in keeping with the key terms of steps, role, omission, and finally financial statements,as explained in your rubric instructions.Three or four sentences are sufficient.

Paragraph One(delete this heading in your final paper)

Using content from youraccounting cycle workbook submitted in Final Project Part I and from your readings inChapter 4 of the textbook, identifythestepsoftheaccountingcycle. Providea description of eachstep. Also, discuss what roleeach stepplays in thesuccessof abusiness.

Paragraph Two (delete this heading in your final paper)

Describehowtheomissionof astepcould impactthesuccessof abusiness.Whatstrategiescouldbeused toavoidthis?Include in your discussion the omission of at least three different steps. A minimum of five to six sentences is required to support your thoughts.Focus your thinking around the role of each step, as discussed in the previous paragraph, and how its omission will impact the success of a business.

Paragraph Three (delete this heading in your final paper)

Identify and describe the major financial statements that come out of the accounting cycle.Why are they important? A minimum of five to sixsentences is required to support your thoughts.Be specific in your answer and use examples to support your thoughts.

Conclusion (delete this heading in your final paper)

The conclusion reminds the reader what your paper is about and allows you to make a final point without introducing new information.Three or foursentences are sufficient.

References

Nobles, T. L., Mattison, B. L., Matsumura, E.M. (2014). Horngren’sfinancial and managerial accounting(4thed.).Upper Saddle River, NJ: Pearson Education, Inc.

Make sure that you provide appropriate citations in APA style. The textbook is provided as an example and should be kept in the references for your paper. Feel free to add other resources. To add credibility to your paper, remember to cite ALLof the sources within the body of the paper as well as in the References list at the end. References should be in alphabetical order by the author’s last name.

 
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Accounting

Peyton Approved
General Journal Entries 
Sep-14
               
DateAccountsDebitCredit  
1-SepDividends    3,000.00  
      Cash     3,000.00
     
5-SepSalary and wages payable       420.00  
      Cash        420.00
    
7-SepMerchandise Inventory         60.00  
      Cash          60.00
                
8-SepCash    4,000.00              
             Accounts Receivable     4,000.00            
               
10-SepAccounts payable         45.00             
                 Cash          45.00            
               
11-SepBaking Supplies     7,000.00             
                Cash     7,000.00            
The baking supplies were purchased on account and not paid for on this date.  This will look like your entry for the purchase of baking supplies on July 1           
13-SepAccounts payable    5,000.00             
                 Cash     5,000.00            
               
15-SepSalary and wages expense       456.00             
       salary and wages payable        456.00            
               
15-SepRent expense    1,500.00             
          Cash     1,500.00            
               
15-SepCash (8 x $8.50)         68.00             
    Merchandise Sales Revenue          68.00            
               
 Cost of goods sold         48.00             
              Merchandise inventory          48.00            
               
20-SepSalary and wages payable       456.00             
      Cash        456.00
    
20-SepMerchandise Inventory       122.00  
      Cash        122.00
    
24-SepCash 1(8 x $8.50)       153.00  
    Merchandise Sales Revenue        153.00
    
 Cost of goods sold       109.80  
              Merchandise inventory        109.80
    
30-SepMerchandise inventory       151.25  
      Cash        151.25
    
30-SepSalary and wages expense       480.00  
       salary and wages payable        480.00
    
30-SepCash  19,000.00  
 Accounts receivable    6,000.00  
      Bakery Revenue   25,000.00
    
    
    
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Accounting

Peyton Approved
General Journal Entries 
Sep-14
               
DateAccountsDebitCredit  
1-SepDividends    3,000.00  
      Cash     3,000.00
     
5-SepSalary and wages payable       420.00  
      Cash        420.00
    
7-SepMerchandise Inventory         60.00  
      Cash          60.00
                
8-SepCash    4,000.00              
             Accounts Receivable     4,000.00            
               
10-SepAccounts payable         45.00             
                 Cash          45.00            
               
11-SepBaking Supplies     7,000.00             
                Cash     7,000.00            
The baking supplies were purchased on account and not paid for on this date.  This will look like your entry for the purchase of baking supplies on July 1           
13-SepAccounts payable    5,000.00             
                 Cash     5,000.00            
               
15-SepSalary and wages expense       456.00             
       salary and wages payable        456.00            
               
15-SepRent expense    1,500.00             
          Cash     1,500.00            
               
15-SepCash (8 x $8.50)         68.00             
    Merchandise Sales Revenue          68.00            
               
 Cost of goods sold         48.00             
              Merchandise inventory          48.00            
               
20-SepSalary and wages payable       456.00             
      Cash        456.00
    
20-SepMerchandise Inventory       122.00  
      Cash        122.00
    
24-SepCash 1(8 x $8.50)       153.00  
    Merchandise Sales Revenue        153.00
    
 Cost of goods sold       109.80  
              Merchandise inventory        109.80
    
30-SepMerchandise inventory       151.25  
      Cash        151.25
    
30-SepSalary and wages expense       480.00  
       salary and wages payable        480.00
    
30-SepCash  19,000.00  
 Accounts receivable    6,000.00  
      Bakery Revenue   25,000.00
    
    
    
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