Time and Form Essay Example for Free

Time and Form Essay Introduction While the English language has past and present tenses, it does not have a future tense because there is no particle for it. To say what will happen in the future, you can use the modal auxiliary will (plus the base form of the main verb), the verb phrase be going to (plus the base form of the main verb, the present simple or the present progressive, etc†¦ But, be careful! There are times when one is preferred over the others. We can accept that there are 7 main ways of this. Take a look at the following examples: The first five of these are commonly used in both speech and writing: 1. Emma is seeing Luke tomorrow – the present progressive, also known as the present continuous. 2. Emma is going to see Luke tomorrow – BE + going to, sometimes referred to as the â€Å"(BE) going to future†. 3. Emma sees Luke tomorrow – the present simple. 4. Emma will see Luke tomorrow this modal form is sometimes, unhelpfully, called the â€Å"future simple†. 5. Emma will be seeing Luke tomorrow – this modal progressive (or continuous) form is sometimes, unhelpfully, called the â€Å"future progressive/continuous†. The last two are used in more restricted contexts: 6. Emma is to see Luke tomorrow – BE + to + infinitive. 7. Emma to see Luke tomorrow – to- infinitive. There are also some so-called ‘future perfect’ constructions, which we will consider at the end of these notes: 8. Emma will have seen Luke †¦ 9. Emma will have been seeing Luke †¦ 10. Emma is going to have seen Luke †¦ Details: 1. The present progressive (also known as the present continuous – planned action) In English, we often use the present progressive (be + verb + ing) to talk about future events which have already been planned. Time words in the sentence, such as next week, next year, tomorrow, etc. , make it clear that the action is not happening at this moment. This form usually refers to a situation that began before the moment of speaking, continues at or around, and after, the present moment, and into the future, and is of limited duration: I am writing these notes on the future. (At this moment). Lindsay is driving to work this week. (She normally goes by bus). The present progressive can refer to a future situation that has been arranged before the present time. The arrangement continues through the present until the situation occurs: Emma is seeing Luke tomorrow, (They arranged this meeting yesterday) Note that only the context or co-text (in the last example the word tomorrow) can tell us which time-period a present progressive verb form refers to. Also note that it is simply not possible to make arrangements for some future situations. It is therefore not normally possible to say It is raining tomorrow. Watch out: Verbs that describe states rather than actions are not used in the progressive form. These include words like know, believe, hear, love, seem, own and need. Study the examples below. Im playing golf with some friends on Saturday. (correct) Im needing a ride to work tomorrow. (incorrect) In the first example, the speaker is talking about an action that has been planned. The use of the words on Saturday tell us that the action is not happening right now. The use of the verb need in the second example is incorrect. Need is used to show a state or condition rather than an action. Therefore, it is wrong to use it in the progressive form. The chart below shows more words that are not used in the progressive form. Verbs Not Used in the Progressive (a) Verbs describing feelings or attitude like, prefer, appear, seem, want, look, love, hate, appreciate, dislike, need (b) Verbs showing ownership possess, belong, own, have (c) Verbs associated with the senses smell, see, hear, taste (d) Verbs concerning mental activity forget, remember, understand, know, believe, mean, recognize, think Note: Some of these words can be used in the progressive form with changes in meaning. I have been meaning to write her. (The speaker was intending to write to her. ) Im sorry. Miss Jones is seeing a client at the moment. Would you mind waiting? (Miss Jones is with a client. ) You will be hearing from my attorney! (My attorney will be contacting you. ) 2. The modal structure: BE + going to Although you may hear or read that this form indicates ‘present intention’, this is not always true. It is hard to imagine any intention in this sentence: â€Å"Look at those black clouds; it is going to rain soon. † BE + going to refers to a future situation for which there is present evidence. In the previous example, the present evidence is the black clouds. In the following example, the present evidence may simply be the speaker’s knowledge that Emma and Luke have arranged the meeting: Emma is going to see Luke tomorrow. When the present evidence is an arrangement, then there is, practically speaking, no real difference in meaning between the present progressive and BE + going to. 3. The modal will + bare infinitive The modal auxiliary verb will has a number of possible meanings. Four of the more common are: a. certainty – John left an hour ago, so he will be home by now. (The speaker is certain that John is home) b.habitual characteristic: Andrea will sit at her desk for hours without saying a word. (This is what she often does. ) c. volition (willingness): I’ll carry your bag for you. (The speaker is offering to carry the bag. ) Fred will carry your bag for you. (The speaker is offering Fred’s services. ) d. instant decision: What will I do tomorrow? I know! I’ll go to the zoo. (The speaker decides to go to the zoo at the very moment of speaking – no plans had been made for this visit. ) Context tells us whether the certainty (a) is about the present, as in the example above, or the future: Prince Charles will become King when the present Queen dies. Habitual characteristic (b) is something that is shown regularly. It was observed in the past, can be observed in the present, and will presumably be observed in the future. It is not possible to know of a future habitual characteristic, so we do not use this form for purely future reference. Volition (c), denoting an offer, can refer only to a future situation. Will is normally contracted to ‘ll. Instant decisions (d) can be made only about a future situation and, usually, only reported by the person making the decision. We therefore usually encounter this meaning only with I or we as the subject. Will is normally contracted to ‘ll. The word tomorrow in the following sentence tells us that the seeing (meeting) is in the future: Emma will see Luke tomorrow. Only context can tell us whether the speaker is certain of the occurrence of the future meeting, or reporting that Emma is willing to see Luke. Note that other modals, which have different meanings, can also can also refer to future situations, for example: Peter might come over next week. (It is possible that this will happen) You must finish the report before you go home tonight. (You are obliged to finish the report.) ) You may read in some books that shall is used instead of will when the subject is I or we. Only a small minority of native speakers use shall other than in questions, and then only for certainty and instant decision, never for volition or habitual characteristic. Shall is used commonly in questions: e) making a suggestion: Shall we go to the pub this evening? f) asking if the person addressed wants the speaker to do something: Shall I arrange the publicity? BIG NOTES: Will or Be Going To? When English speakers predict what they think will happen or become true in the future, they can use either will or be going to. Look at the example sentences below. Wed better cancel the picnic. The weather person says we will have heavy rain on the weekend. Wed better cancel the picnic. The weather person says we are going to have heavy rain on the weekend. In both cases, the speakers are making predictions about the weather on the weekend. There is no difference in meaning between the first example and the second. However, there are a number of situations when it is better to use will than be going to, and vice versa. Expressing Future Events with Will We use will + the base form of the main verb in these situations. Use â€Å"Will† Example Explanation To talk about things that we think will happen (In such cases we often use words such as â€Å"I think† or â€Å"probably†. ) James will probably study history at university. I know James is interested in history. Therefore I guess or predict that he will study history in the future. For official or formal announcements concerning future events The graduation dinner will take place on June 3rd of this year. Any type of ceremony, including a graduation ceremony, is a formal or important event. Therefore, the use of will is appropriate here. For promises or offers related to the future (In such cases, we are expressing willingness. ) You forgot your wallet. Dont worry. Ill lend you some money. The phone is ringing. Dont get up. Ill answer it. In each case, the speaker is expressing a willingness to help the listener. For decisions concerning future events that are made while talking Person A: The car is very dirty. Person B: Youre right. Ill wash it after lunch. Before this conversation, Person B was not planning to wash the car after lunch. He decided to do so because of something Person A said. In other words, he made his decision to wash the car during the conversation. When making serious promises Dont worry. I wont forget to pay you back the money. Ill take care of your house while youre out of the country. Dont worry about a thing. Ill never forgive him! In each case, the speaker is expressing a promise to do something in the future. Shall Shall was used in the past for the affirmative will. Today however, the forms I will or we will are preferred. Nevertheless, shall is still used in questions about the future that make offers and suggestions or ask for advice. What shall we do if they dont come soon? (asking for advice. ) Its hot in here. Shall I open a window? (making an offer) Shall we try to finish the project today? (making a suggestion) Using Be Going To We use be going to + the base form of the main verb in these situations. Use â€Å"Be Going To† Example Explanation For prediction — We use be going to + the base form of the main verb to make a prediction about the future based on our sense of sight, smell, taste, hearing or touch. In other words, something about the present causes us to think an action will happen very soon or immediately. Something smells good. Dinner is going to be delicious. The speaker is making a prediction about a future meal based on what his sense of smell tells him in the present. The sun is shining and theres not a single cloud in the sky. Its going to be a nice day. The speaker is making a prediction based on what (s)he sees. For a plan — We use be going to + the base form of the main verb to talk about future events which have already been planned. Last year we went to Hawaii for our vacation. This year we are going to take a cruise to Alaska. After work Im going to play squash with a friend. The speaker is talking about a planned event. For informal situations — We use be going to + the base form of the main verb when we talk about informal situations involving future actions. Mom and Dad are going to be angry when they see the mess youve made. Youd better clean it up before they get home. This is an informal situation between two siblings. 4. The present simple The present simple tense is used to talk about future events that have been scheduled. Examples would be meetings, timetables, airline schedules, etc†¦ The present simple is also used for situations that often or regularly happen. It can therefore be used for a future situation that is part of a regular series of happenings: The train for Berlin leaves at midnight tonight. It is also used for something that is seen as part of a fixed timetable: The sun rises at 07. 34 tomorrow. (We can imagine the speaker thinking of a table of sunrise and sunset times. ) Emma sees Luke tomorrow. (We can imagine the speaker mentally looking at Emma’s diary). Hurry up! I dont want to miss any of the game. It starts at 1:00. The meeting is in the boardroom. It begins at 10:00. Hell be here soon. His plane arrives at 6:45. 5. The modal will + be + -ing form Progressive forms usually refer to a situation that began before a time point continues through and after that time point, and into the future, and is of limited duration. The combination of this idea with the modal will, expressing certainty, leads to the modal will + be + -ing form referring to a situation beginning before a future time point and continuing through that time point: Sally’s plane takes off from Heathrow at 9 o’clock tomorrow, so by about midday she will be flying over Istanbul. It is also possible that the speaker is more concerned with the pure certainty of the action happening than with volitional aspect that might be implied by the use of WILL by itself: Emma will be seeing Luke tomorrow. Some writers claim, with some justification, that this use of modal will + a progressive implies, by its lack of reference to intention, volition or arrangement, a casual future. Depending on the context and co-text, the speaker may be intending a ‘casual’ futurity, or may be indicating a situation in progress at a particular time. 6. BE + to + infinitive. This form is not common in informal conversation. It refers to something that is to happen in the future as a plan or decree, normally by some authority other than the subject of the sentence, and is common in television and radio news reports Thus we are unlikely to hear the first of the following examples (unless Emma and Luke are the names of well-known singers, actors, etc) . We might well hear the second: Emma is to see Luke tomorrow. Downing Street announced this morning that the Prime Minister is to fly to Washington this evening for urgent talks about the current crisis. 7. to- infinitive This form is common only in newspaper headlines, where editors want to announce the news as briefly as possible. Once again, we are unlikely to see the first of the following examples (unless Emma and Luke are the names of well-known singers, actors, etc). We might well see the second: Emma to see Luke tomorrow. PM to fly to US. 8. will + have + past participle (third form) When we refer to a future action completed before a later future time, or a future state continuing up to that later future time, we use will + have + a past participle (third form). This is sometimes known as the ‘future perfect’: I will have lived here for just over thirteen years when I celebrate my 66th birthday next March. (At the moment of speaking, six months before ‘next March’, the speaker has lived ‘here’ for twelve and a half years. ) By the time she leaves Paris tomorrow, Emma will have seen Luke and told him the news. (When Emma leaves Paris tomorrow, the seeing and telling will be, for her, in the past. ) This form is sometimes known as the ‘future perfect’. 9. BE + going to + have + past participle (third form). It is possible, though not very common, for a speaker to suggest that there is present evidence of a future action completed before a later future time, or a future state continuing up to that later future time, using BE + going to + have + a past participle form (third form): By the time Emma leaves Paris tomorrow, She is going to have seen Luke and told him the news. Learners may see/hear this usage, but are recommended to use only 8. will + have + a past participle (third form), which has practically the same meaning, and is far more commonly used. 10. will + have + been + -ing form. When we refer to a future action begun before a later future time and continuing through that later future time, we use will + have + been + -ing form. By the end of next week, Emma will have been seeing Luke for three months. (She has now, one week before ‘the end of next week’ been seeing him for a week less than three months. ) This form is sometimes known as the ‘future perfect continuous’. Look at this example to be clearer between â€Å"will + inf†, â€Å"be going to†, and â€Å"be + V-ing† When you feel you’ve got a terrible headache, you say (right away at this moment) that: I’ll visit doctor tomorrow. When your mother asks about your problem, you say that: I am going to visit doctor tomorrow. When you make a phone call to your family doctor to fix an appointment, you say: I am visiting doctor tomorrow. Important Note. In many sentences, several of the forms can be used perfectly naturally. The final subconscious choice of form is made by speakers at the moment of speaking, and depends on the context of situation as they see it at that moment. Do not think that there is one, and only one, ‘correct’ form in any given situation.

Shirley Jacksons The Lottery Essay -- The Lottery Essays

â€Å"The Lottery† by Shirley Jackson has been criticized, but its longevity and durability prove it stands the test of time. In the article, â€Å"Jackson’s The Lottery,† the author A.R. Coulthard finds a deeper meaning in the story which other critics have not. Coulthard believes the story is a â€Å"parable of the evil inherent in human nature† rather than â€Å"an assault on mindless cultural conformity,† as other critics have suggested (Coulthard 226). Coulthard shows how something that most likely began as a primitive and ignorant way to ensure prosperity, evolved into a complete need for sanctioned violence and murder. Coulthard offers valid points to support her argument. Coulthard finds that the actions and demeanor of the villagers are evidence of an underlying enjoyment in the killing. Her analysis shows that the villagers mask their anticipation for the killing under false and thinly veiled social gestures. Coulthard points out the contrast between Mrs. Delacroix and Tessie Hutchinson’s social friendship and how quickly the shallow friendship unravels when Tessie is chosen for the sacrifice. Mrs. Delacroix â€Å"selected a stone so large she had to pick it up with both hands,† which is in stark contrast to how a true friend would behave (Jackson 393). Participation in the lottery causes the villagers to lose the ability to be empathetic and their bonds of family and friendship suffer for it. The lottery encourages them to abandon ties of love and loyalty and tap into the deepest recesses of the darkness that hides in humanity. The lottery does not offer them prosperity, but strips them of all that is good in humanity. The villagers are masked behind the evil that awaits them each year on a sunny day in June. The other 364 da... ...kill too much to mourn inconsequential losses like love, friendship and the bonds of family, community, and humanity. Works Cited Coulthard, A.R. "Jackson's THE LOTTERY." Explicator 48.3 (1990): 226. Academic Search Premier. EBSCO. Web. 26 Oct. 2010. Jackson, Shirley. â€Å"The Lottery† The Story and Its Writer: An Introduction to Short Fiction. 8th ed. Compact. Ann Charters. Boston: Bedford/St. Martin’s, 2011. 387-393. Print. Jackson, Shirley. "The Morning of June 28, 1948, and â€Å"The Lottery† "The Story and Its Writer: An Introduction to Short Fiction. 8th ed. Compact. Ann Charters. Boston: Bedford/St. Martin’s, 2011. 950-952. Print.

Generally Accepted Accounting Principles and Assets

ACC201 †¦ STUDY GUIDE for TEST ONE (Chapters 1, 2, 3) Test #1 will consist of 50-60 of the questions below. (Finding the â€Å"answers† to these questions is part of the review) True or False 1. Owner's equity represents the amount of assets that can be claimed by creditors. 2. The right-hand side of an account is always the increase side. 3. A ledger is a chronological record of a business’s transactions. 4. The chart of accounts proves that all transactions were correctly journalized and posted. 5. In accrual-basis of accounting, revenues are recorded when a service is performed. . Current liabilities are expected to be paid off or eliminated in the next 12 months. [pic] 7. Each time a business records revenue the account Cash is increased. 8. Accumulated depreciation of an asset – its depreciation expense = book value. 9. Financial accounting provides information for people inside the company while managerial accounting focuses on information for people o utside the company. 10. Every adjusting entry affects one account on the income statement and one account on the balance sheet. 11. Financial statements will be inaccurate if they are prepared before the djusting entries are completed. 12. The â€Å"current ratio† is calculated by dividing the Total Assets by Total Liabilities. 13. During the closing process, ALL revenue and expense accounts are closed. 14. â€Å"Liquidity† is a measure of how quickly an asset can be converted into cash. 15. Revenues and expenses are also classified as â€Å"current† or â€Å"long-term† on a classified Income Statement. 16. Cash-basis accounting results in a more accurate measurement of net income than does the accrual basis of accounting. 17. Financial statements will be inaccurate if they are prepared before the adjusting entries are completed. 8. Risk is the amount of uncertainty about the return we expect to earn in the future. 19. Accounting records are also referred to as the books. 20. Source documents provide evidence of business transactions and are the basis for accounting entries. 21. As prepaid expenses are used up, the costs of these assets become expenses 22. An account balance is the difference between the debits and credits for an account including any beginning balance. 23. The debt ratio reflects the risk of a company to both its owners and creditors. 24.The higher the debt ratio, the higher risk of a company not being able to meet its obligations. 25. The debt ratio is calculated by dividing total assets by total liabilities. 26. A company that finances a relatively large portion of its assets with liabilities is said to have a high degree of financial leverage. 27. If a company is highly leveraged, this means that it has relatively low risk of not being able to repay its debt. 28. A company's fiscal year must correspond with the calendar year. 29. Adjusting entries are made after the preparation of financial statements. 30.Curren t assets and current liabilities are expected to be used up or come due within one year or the company's operating cycle whichever is longer. 31. For a corporation, the equity section is divided into two main accounts: Common Stock and Retained Earnings. 32. Profit margin can also be called return on sales. 33. The Income Summary account is closed to the retained earnings account. 34. The primary objective of financial accounting is: A. To serve the decision-making needs of internal users B. To provide financial statements to help external users analyze and interpret an organization's activities C.To monitor and control company activities D. To provide information on both the costs and benefits of managing products and services 35. A corporation: A. Is a legal entity separate and distinct from its owners B. Must have many owners C. Has shareholders who have unlimited liability for the acts of the corporation D. Does not have to pay taxes 36. Net Income: A. Decreases equity B. Equals assets minus liabilities C. Is the excess of revenues over expenses D. Represents the owners' claims against assets 37. Return on assets is: A. Also called rate of return B.Computed by dividing net income by beginning assets plus ending assets divided by two C. Computed by multiplying net income by total assets D. Used in helping evaluate expenses 38. Risk is: A. Net income divided by average total assets B. The reward for investment C. The uncertainty about the expected return that will be earned from an investment D. Unrelated to expected return 39. The statement of retained earnings: A. Reports how retained earnings changes at a point in time B. Reports how retained earnings changes over a period of time C.Reports on cash flows for operating, financing and investing activities over a period of time D. Reports on amounts for assets, liabilities and equity at a point in time 40. A written promise to pay a definite sum of money on a specific future date is a(n):   A. Unearned rev enue B. Credit account C. Note payable D. Account receivable 41. On September 30, the Cash account of Value Company had a normal balance of $5,000. During September, the account was debited for a total of $12,200 and credited for a total of $11,500. What was the balance in the Cash account at the beginning of September? A. $4,300 debit balance B. a $4,300 credit balance C. a $5,700 debit balance D. a $5,700 credit balance 42. The Fireside Country Inn is a very popular destination for tourists. The Inn requires guests to make reservations at least two months in advance of their stay. A twenty percent down payment is required at the time the reservation is made. When should this inn recognize room rental revenue? A. On the date the reservation is received B. On the date the money for the reservation is received C. On the date the guests stay in the inn D. On the date the guests pay the remaining eighty percent due 3. Stride Rite has total assets of $425 million. Its total liabilities are $110 million. Its equity is $315 million. Calculate the debt ratio. A. 38. 6% B. 13. 4% C. 34. 9% D. 25. 9% 44. Listed below are two pieces of information. Where is the best place to locate this information, in the journal or the ledger? Details of a transaction which took place on October 3rd All of the sales activity which took place during the current month   A. 1. Journal 2. Journal B. 1. Journal 2. Ledger C. 1. Ledger 2. Journal D. This information is only available on the financial statements 5. Interim financial statements refer to financial reports:   A. That cover less than one year, usually spanning one, three or six-month periods B. That are prepared before any adjustments have been recorded C. That show the assets above the liabilities and the liabilities above the equity D. Where revenues are reported on the income statement when cash is received and expenses are reported when cash is paid 46. Profit margin is defined as: A. Revenues divided by net sales B. Net income divided by net sales C. Net income divided by assets D.Assets divided by net sale 47. A company earned $2,000 in net income for October. Its net sales for October were $10,000. Its profit margin is:   A. 2% B. 20% C. 200% D. 500% 48. Which of these shows a company’s financial position as of a specific date? A. Income StatementC. Statement of Owners Equity B. Balance Sheet D. Chart of Accounts 49. GAAP stands for: A. generally accepted auditing practices B. generally accrued auditing procedures C. generally accrued accounting principles D. generally accepted accounting principles 50. Liabilities are: xpenses incurred by the business increases in owner's equity earned by delivering goods or services economic resources of a business creditors claims to the business's assets 51. Which of these have a remaining balance after the closing process is completed ? A. service revenueC. accumulated depreciation. B withdrawalsD. depreciation expense. 52. A $250 payment on account was recorded as a debit to accounts receivable and a credit to accounts payable. This error will cause: A. owner's equity to be overstated B. accounts payable to be understated C. ash to be understated D. accounts receivable to be overstated 53. Receiving a payment from a customer on account would: A. have no effect on total assets or owner's equity    B. increase net income and decrease liabilities C. increase both assets and owner's equity D. decrease liabilities and increase owner's equity 54. The entry for depreciation has what effect on the financial statements: A. increases expenses and decreases assets B. decreases net income and increases assets C. increases assets and decreases liabilities D. decreases assets and increases liabilities 5. Equipment with a cost of $120,000 has a useful life of 4 years and no salvage value. Using straight-line depreciation, what is the book value after 1 year? A. $28,750C. $103,000 B. $86,250 D. $ 38,333 56. The balance in accumulated depre ciation after adjustment represents: A. a contra liability on the balance sheet B. a contra asset on the balance sheet C. a liability on the balance sheet D. a contra account on the income statement 57. A list of all of the accounts (without balances) used by a business is called: A. trial BalanceC. account master B. hart of accountsD. adjusted trial balance 58. Which of these shows results of a company’s operations over a period of time? A. income statementC. statement of owners equity B. balance sheetD. chart of accounts 59. These â€Å"types† of accounts appear on the Income Statement? A. assets and liabilities. C. all owners equity accounts B. revenues, expensesD. all accounts of a business appear 60. These â€Å"types† of accounts appear on the Balance Sheet? A. assets and liabilities. C. all owners equity accounts B. revenues, expensesD. ll accounts of a business appear 61. If Assets = $150,000 and Liabilities = $60,000, Owners Equity = _____________. |a) $ 240,000 |c) $ 150,000 | |b) $ 90,000 |d) $ 210,000 | 62. A business bought land paying $100,000 (paying $25,000 cash and owing $75,000). The land had an asking price of $115,00 and an appraised value of $125,000. What amount should the business use to record the purchase in the accounting â€Å"books†. a) $ 25,000 |c) $ 115,000 | |b) $ 100,000 |d) $ 125,000 | 63. In May a business had: Revenue of $15,000, Accounts Receivable of $25,000; Liabilities of $8,000; Expenses of $11,000 and a balance in the Cash account of $5,000. The â€Å"Net Income† (or net loss) for May was _______________. |a) $ 64,000 |c) $ 11,000 | |b) $ 16,000 |d) $ 4,000 | 4. Company buys Supplies paying $500 in Cash. Company buys more Supplies for $1,000, on account. Company pays $500 of the amount it owes for supplies. The balance in the Supplies account is: | a. $ 500 |c. $ 1,500 | |b. $ 1,000 |d. $ 2,000 | 65. The â€Å"accounting† term that refers to copying transaction information fro m the journal to the ledger is termed: |a. increase |c. ebit | | b. decrease |d. credit | 66. Unearned revenue is always a(n) ______________ type of account: |a) revenue. |c) owners equity. | |b) contra-revenue. |d) liability. | 67. Accrued expenses are expenses that have: |a) been paid. |c) not been paid nor incurred | |b) been incurred and paid. |d) not been paid but incurred | 68. Accrued revenue is which of the following? |a) Revenue that has been earned and collected. |b) Revenue that has been collected but not yet earned. | |c) Revenue that has been earned but not yet collected. | |d) Revenue that has not been collected or earned. | 69. On a classified balance sheet, assets that are expected to be converted to cash, sold, or consumed during the next 12 months are referred to as: |A. current assets. |C. leveraged assets. | |B. market assets. |D. liquid assets. | 70. What accounts may have balances (that are not -0-), on a post-closing trial balance? |A. assets, liabilities & r evenues. |C. revenues, expenses & capital | |B. ssets, liabilities & expenses |D. assets, liabilities & capital | 71. Which of these would have no effect on TOTAL assets or TOTAL liabilities? |a) payment of a liability |c) buying supplies on account | |b) payment of an expense |d) buying supplies and paying cash | 72. The accountant for BobCo did not make any adjusting entry for depreciation expense. What is the effect of this error on TOTAL liabilities? a) liabilities are understated |c) liabilities are overstated | |b) liabilities are not affected |d) I don’t have a clue! | 73. Buying a $300,000 building by signing a $300,000 note payable results in: |a) owner's equity increasing. |c) no change to owner's equity. | |b) owner’s equity decreasing. |d) no clue on this one either! | 74. The â€Å"Matching Principle† directs accountants to: |a) match total debits to the total credits. | |b) match Assets to the (Liabilities – Owners Equity). | |c) match expen ses against revenues of the period. |d) once again, I have no clue! | 75. A $75 payment for Rent Expense was mistakenly posted as a: debit to Supply Expense (the credit was correct). What is the impact on the Trial Balance |a) the credit total is off by $75. | |b) the debit total is off by $75. | |c) no impact on the Trial Balance | |d) nothing has changed – no clue! | 76. If a company is using the accrual method of accounting, when is revenue recorded? |a) when cash is received, regardless of when the work is done. | |b) when the work, or services are begun. |c) when the work, or services are completed. | |d) when the expenses to pay for the job, or services, are incurred. | 77. Assets are __________________________________________________________ 78. Liabilities are _______________________________________________________ 79. Equity is ____________________________________________________________ 80. Revenues are_________________________________________________________ 81. Ex penses are _________________________________________________________ 82. How do you INCREASE these accounts †¦ by a DR (debit) or a CR (credit) ? ______ Assets ______ Expenses ______ Revenues _____ Liabilities ______ Capital ______ Withdrawals Unearned Accumulated ______ Revenue ______ Depreciation 83. Indicate whether these accounts appears on the: IS (Income Statement only), the BS (Balance Sheet only) or BOTH (Income Statement and Balance Sheet) ______ Cash ______ Furniture ______ Revenue ______ Supply ______ Accounts ______ Accounts Expense Payable Receivable Unearned Interest _____ Revenue ______ Revenue Definitions – matching 84. cost of assets or services used up or consumed to generate revenues. They decrease retained earnings. 85. resources generated from a company’s earnings activities. They increase retained earnings. . 86. Assets = Liabilities + Equity 87. the result when revenues are larger than expenses. 88. A company records the expenses incurred to generate the revenues reported. 89. Every business is accounted for separately from its owner or owners. Revenues LiabilitiesEquity ExpensesNet IncomeGAAP Net Loss AssetsAccounting equation 90.A list of all ledger accounts and includes an identification number assigned to each account (does NOT include account balances). 91. A record of increases and decreases in a specific asset, liability, equity, revenue or expense item. 92. The accounting â€Å"book of original entry† where transactions are first recorded in a chronological order. Identifies and describes transactions and events entering the accounting process (either in hard copy or electronic form). 93. A record containing all accounts used by a company, a collection of all accounts and their balances. Post from the journal to the __________. 4. A list of accounts, and their account identification numbers, (without any dollar amounts or balances) that may be used by a company. 95. The process of transferring journal en try information to the ledger. |A. Debit |F. Chart of Accounts | |B. Credit |G. Trial balance | |C. Account |H. Ledger (general ledger) | |D. Posting |I. Source documents | |E. Journal |J. Account Balance | 6. a method or technique of accounting that â€Å"recognizes revenues when cash is received and records expenses when cash is paid†. 97. this is â€Å"a list of accounts and balances prepared after adjustments (adjusting entries) are recorded†. 98. this is â€Å"the process of allocating the costs of these (plant) assets over their expected useful life†. 99. these are â€Å"costs that are incurred in a period but are both unpaid and unrecorded†. 100. an â€Å"account linked with another account, it has an opposite normal balance, and is reported as a subtraction from the other (linked) account’s balance† 01. this â€Å"refers to revenues earned in a period that are both unrecorded and not yet received in cash (or other assets)’ |A . Accrued Expenses |F. Contra Account | |B. Accrued Revenue |G. Cash Basis Accounting | |C. Depreciation |H. Unearned (deferred) Revenue | |D. Adjusting Entry |I.Prepaid (deferred) Expenses | |E. Adjusted Trial Balance |J. Matching Principle (expense recognition) | Journal Entries 102. Bill starts a business by investing $10,000 cash in the business. 103. The business completes work for a customer and collects $1,000 from him. 104. The business receives this month’s phone bill in the amount of $ 100. The business will pay the bill NEXT month. 105. The business does work for a Customer and sends Joe a bill for $ 750. 106.On Jan 1, BobCo received $3,000 from a customer to provide landscape services for Jan, Feb and Mar. (BobCo made the correct entry on Jan 1 to record the receipt of the Cash). Prepare BobCo’s adjusting entry for JAN 31 107. BobCo pays Salaries of $5,000 per week. Mon, Tues, Wed are in JAN while Thurs and Fri fall into FEB. Prepare the adjusting entry a s of JAN 31 108. A machine was purchased for $24,000 on JAN 1. Its estimated useful life is 48 months. Prepare the entry for depreciation on JAN 31. 109. In JAN, interest revenue of $100 has been earned but not yet received. It will be received in MAY). Prepare the adjusting entry for JAN 31. 110. On JAN 1 the Supplies account balance was $3,000. On JAN 31 there were $ 1,000 of Supplies remaining (unused). Prepare the adjusting entry for JAN 31 111. On JAN 1 BobCo bought $500 in Supplies on account. On JAN 31 only $200 of the Supplies remain. Prepare the adjusting entry. 112. On JAN 1 BobCo. paid, in advance, $3,000 for 6 months of Insurance (Jan thru June) Prepare the adjusting entry for JAN 31. ONE MORE PAGE On the next page, IF you close ONLY the correct accounts, you will receive one bonus points. Adjusted Trial Balance |Debits |Credits | |Cash |$ 15,000 | | |Accounts Receivable |$ 6,000 | | |Unearned Revenue | |$ 1,000 | |Accounts Payable | |$ 2,500 | |Sales Revenue | |$ 11,000 | |Depreciation Expense |$ 2,000 | | |Rent Expense |$ 500 | | |Withdraws |$ 1,000 | | |Capital | |$ 10,000 | Note: Prepare the closing journal entries using whatever data above that you need.

Essay about Two Viewpoints of Death in Emily Dickinsons...

Two of Emily Dickinson’s poems, â€Å"I heard a Fly buzz-when I died† and â€Å"Because I could not stop for Death† are both written about life’s stopping point, death. Although the poems are written by the same poet, both poems view death in a different manner. Between the two poems, one views death as having an everlasting life while the other anticipates everlasting life, only to realize it does not exist. While both poems are about death, both poems also illustrate that the outcome of death is a mysterious experience that can only be speculated upon with the anticipation of everlasting life. In â€Å"I heard a Fly buzz-when I died† the woman seems to anticipate everlasting life, but does not find it. When the woman in the poem dies and her eyes or†¦show more content†¦In â€Å"Because I could not stop for Death† the woman seems to anticipate everlasting life, and has found it. The woman in the poem has been taken away by death. It almost seems as if the lady is reminiscing through her life as a child, an adult, and then she finds death. The death portion of her life is represented by â€Å"We passed the setting sun† (12). Reading through the poems leads one to believe the woman was very comfortable with death and all it had to offer. The woman in the poem is so comfortable in her new state that time trickles by, feeling â€Å"†¦shorter than the Day† (22). The poem, â€Å"Because I could not stop for Death† represents a woman that has found peace with her everlasting life. The mysterious experience of death is revealed in both poems. The poems, â€Å"I heard a Fly buzz-when I died† and â€Å"Because I could not stop for Death† both give details of what the women experienced with death. In â€Å"I heard a Fly buzz-when I died† it is safe to say the woman took death with a grim sight calling it a â€Å"†¦Fly†¦Ã¢â‚¬  (12). The fly in the poem can be viewed as death since flies often gather around dead things and death itself. In, â€Å"Because I could not stop for Death† the description of the woman’s grave as her â€Å"†¦House†¦Ã¢â‚¬  (17) gives insight as to how comfortable she is in her resting place. A home is usually visualized as a place of warmth and happiness. Although both poems are about death, both poems give different views of death. In, â€Å"I heard a Fly buzz-when I died†Show MoreRelatedUnique Elements Within Dickinson s Poetry1188 Words   |  5 PagesElements within Dickinson’s Poetry Emily Dickinson is considered to be one of the most popular and prolific poets of her time period. Dickinson had a unique style of writing which pulled in influence from both the Romantic and Realist periods. Dickinson’s style of writing had many elements, such as imagery and advanced vocabulary, which helped differentiate herself from other poets. 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