Free Essays on Depreciation to Get Inspired & Learn by Example

Part A: Journal Entries to record accounting transactions

1. On December 31st the company sells on credit $5,000 of goods which had been bought a month previously at a cost of $3,500:

Debtors A/cDr5000

Cost of Goods Sold.Dr..3500
2. On December 31st the company sells an unwanted machine for $1,500. The machine was bought at the beginning of 2012 for $8,200 and was expected to be used for three years after which its value had been forecast to be $1,000.

Cash A/c.Dr 1500

Depreciation of Machinery A/c..Dr 4800

Loss on Sale of Machinery A/c Dr.1900

3. On January 2nd the company paid $500 by check for a three year buildings insurance policy.
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Introduction

According to the major political economists the basic prolific loss of the financial sovereignty is one of the reasons for which the southern periphery fared so badly in the crisis of Euro area. Financial sovereignty or the monetary sovereignty actually means the ability of the central bank to actually devalue the major exchange rate or to buy the government debt by printing the domestic currency. Many economists like Hall and Scharpf have argued on the fact that the Southern European economies basically lack the major institutions to potentially restrain the increased wage in line along with prolific growth of Continue reading...

Market Analysis – SWOT

Strengths
One of NOC’s main strong points is that it provides a natural and an alternative approach for diagnosing and addressing physical ailments. There is increasing literature about how conventional medicines are actually causing us more harm than good, such as the findings that childhood obesity actually increases for children more exposed to antibiotics (Mcnamee). NOC will bank on these recent findings, hoping that people will soon realize the advantages of the natural approach. Another inherent strength is that the services will be offered 24 hours a day, 7 days a week, and through channels most convenient and Continue reading...