
Accounting 25th Edition by Carl Warren, James Reeve, Jonathan Duchac
النسخة 25الرقم المعياري الدولي: 978-1285069609
Accounting 25th Edition by Carl Warren, James Reeve, Jonathan Duchac
النسخة 25الرقم المعياري الدولي: 978-1285069609 تمرين 2
Net income
On January 1, 2013, Dr. Marcie Cousins established Health-Wise Medical, a medical practice organized as a proprietorship. The following conversation occurred the following August between Dr. Cousins and a former medical school classmate, Dr. Avi Abu, at an American Medical Association convention in Seattle.
Dr. Abu: Marcie, good to see you again. Why didn't you call when you were in Miami We could have had dinner together.
Dr. Cousins: Actually, I never made it to Miami this year. My husband and kids went up to our Vail condo twice, but I got stuck in Jacksonville. I opened a new consulting practice this January and haven't had any time for myself since.
Dr. Abu: I heard about it … Health … something … right
Dr. Cousins: Yes, Health-Wise Medical. My husband chose the name.
Dr. Abu: I've thought about doing something like that. Are you making any money I mean, is it worth your time
Dr. Cousins: You wouldn't believe it. I started by opening a bank account with $25,000, and my July bank statement has a balance of $80,000. Not bad for six months-all pure profit.
Dr. Abu: Maybe I'll try it in Miami! Let's have breakfast together tomorrow and you can fill me in on the details.
Comment on Dr. Cousins' statement that the difference between the opening bank balance ($25,000) and the July statement balance ($80,000) is pure profit.
On January 1, 2013, Dr. Marcie Cousins established Health-Wise Medical, a medical practice organized as a proprietorship. The following conversation occurred the following August between Dr. Cousins and a former medical school classmate, Dr. Avi Abu, at an American Medical Association convention in Seattle.
Dr. Abu: Marcie, good to see you again. Why didn't you call when you were in Miami We could have had dinner together.
Dr. Cousins: Actually, I never made it to Miami this year. My husband and kids went up to our Vail condo twice, but I got stuck in Jacksonville. I opened a new consulting practice this January and haven't had any time for myself since.
Dr. Abu: I heard about it … Health … something … right
Dr. Cousins: Yes, Health-Wise Medical. My husband chose the name.
Dr. Abu: I've thought about doing something like that. Are you making any money I mean, is it worth your time
Dr. Cousins: You wouldn't believe it. I started by opening a bank account with $25,000, and my July bank statement has a balance of $80,000. Not bad for six months-all pure profit.
Dr. Abu: Maybe I'll try it in Miami! Let's have breakfast together tomorrow and you can fill me in on the details.
Comment on Dr. Cousins' statement that the difference between the opening bank balance ($25,000) and the July statement balance ($80,000) is pure profit.
التوضيح
It is incorrect to say that in six months the difference in balance is pure profit.
The reason should be ascertained. The various reasons could be:
1. Wrong credit of a check by bank;
2. Interest capitalized by bank;
3. The banker might have credited our account with amount of a bill of exchange or any other direct payment into bank and the same may not have been entered in the cash book.
The reason should be ascertained. The various reasons could be:
1. Wrong credit of a check by bank;
2. Interest capitalized by bank;
3. The banker might have credited our account with amount of a bill of exchange or any other direct payment into bank and the same may not have been entered in the cash book.
Accounting 25th Edition by Carl Warren, James Reeve, Jonathan Duchac
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