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It is the tiny spark of humanity that adds blaze to a villain

Thats right when TJ speaks...

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Every child is an artist. The problem is how to remain an artist once we grow up- Pablo Picasso.

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Originally posted by Summer39 And to think of TJ as the head Swan-I guess you really don't know a person until all of their dirty laundry is truly exposed!

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Originally posted by Transmute Jun quote: Originally posted by Firebird lol want to share some of the questions TJ? LOL, you are too funny! It's not that exciting, really. Let's see, some excerpts.... On December 23rd, 2008, Thaddeus Keane, Gateway Corp.s sole owner, purchased $1,800 of common stock in Gateway Corp. for cash. Record any necessary journal entry for Gateway Corp. ***** Given the following information for 2007, calculate the total amount of ISO Corp.s extraordinary items to be reported on ISOs 2007 Income Statement. Be sure to state whether the total is a gain or a loss. All numbers are before tax. Tax rate = 20% ***** This one was one of Springie's favourites: State the type of opinion the auditor would give under each of the following (independent) situations. a) Ken Industries has financial statements that present its accounting position fairly in all material respects. b) Eagle Corp. has never had an audit but requires one this year for the purposes of obtaining a loan from City Bank. The auditors have not found any problems with this years financial data. c) Mark Brothers lost all accounting data for the year when their computer systems crashed due to a virus. The data is unrecoverable. d) Washio Group has had many disputes with the auditors over its financial statements. Management refuses to change any accounting numbers, even though many are materially misstated. ***** Ace Company had $200,000 of accounts receivable on March 31st, 2007. Ace assumed that $50,000 of these receivables would not be collected; however no allowance had been set up for this amount. Ace needed extra cash and was contemplating different ways of obtaining the funds. There are others of course, but this is a sampling..... Do you all want to be in my accounting classes now?

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Every child is an artist. The problem is how to remain an artist once we grow up- Pablo Picasso.

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Originally posted by Transmute Jun State the type of opinion the auditor would give under each of the following (independent) situations. a) Ken Industries has financial statements that present its accounting position fairly in all material respects. b) Eagle Corp. has never had an audit but requires one this year for the purposes of obtaining a loan from City Bank. The auditors have not found any problems with this years financial data. c) Mark Brothers lost all accounting data for the year when their computer systems crashed due to a virus. The data is unrecoverable. d) Washio Group has had many disputes with the auditors over its financial statements. Management refuses to change any accounting numbers, even though many are materially misstated. ***** Ace Company had $200,000 of accounts receivable on March 31st, 2007. Ace assumed that $50,000 of these receivables would not be collected; however no allowance had been set up for this amount. Ace needed extra cash and was contemplating different ways of obtaining the funds. There are others of course, but this is a sampling..... Do you all want to be in my accounting classes now?

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Hinotori
Eagle in Charge

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Don't sweat the petty things and don't pet the sweaty things.

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Originally posted by Transmute Jun I've never had to throw my whiteboard brush (you got it right, CD), and I've never had to kick a student out of class. I have however invited students to be quiet so everyone else could hear.

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Don't sweat the petty things and don't pet the sweaty things.

I'd like to take your classes, Transmute Jun. It would be a nice change to learn something useful. What you teach sounds like the things that Controllers do. My accounting-type work at the country club usually ran to things like trying to get out all the 1099s each January, and discovering that individual/sole proprietors had been paid sums exceeding $600, left and right, and no one had bothered to make them fill out w-9s, or put their addresses and phone numbers into the A/P system. Or trying to straighten out A/P messes from the Pro Shop, because they'd approve invoices for payment and deduct the amount for merchandise they intended to return, and then when the credit memo came in the mail, they'd approve that too and the credit would end up in the system twice. Or trying to figure out why an event account was still open when the member in question said they'd sent a check, which had been cashed, and discovering that it had been misapplied because there were three different accounts set up for the same event, by three different people. I was the fixer of problems, among other duties.