Michelle Mashburn 21317632 PART A Question 1 Lauren Company Statement of Cash Flows For year ended December 31, 2011 Cash flows from operating activities Cash received from customers(W n:1) $248,200 Cash paid for merchandise(W n: 2) $(68,100) Cash paid for tax expense $(12,300) Cash paid for salaries expense $(28,000) Cash paid for interest expense $(3,600) Cash paid for operating expense $(28,500) Cash received from interest
Words: 1173 - Pages: 5
CRU Computer Rentals (Operational Management Assignment) Executive Summary CRU is one of the two national computer rental companies. They purchase CPU, monitor, printer and other peripherals and rent them out for long term leases and short term rentals. The case covers the problem faced by the company in 1997 when the rental market started to decline and the efforts by the company to bring up the sales plunged the company to losses. Problem Statement In 1996, they had a revenue of 15 million$
Words: 1630 - Pages: 7
Velocity Cellular: Trueblood Case 09-1 Case Study: Velocity Cellular Case Study: Velocity Cellular Revenue Recognition in a Multiple-Element Arrangement Velocity Cellular Services is planning the rollout of a new prepaid phone service called Power Starterpack. Using the current, relevant accounting guidance, determine and support the appropriate method for recognizing revenue for this new product. Power Starterpack Details Velocity Cellular sells the Power Starterpack for $200. The Power
Words: 1376 - Pages: 6
PUBLIC SECTOR ACCOUNTING AND FINANCE 1.0. Introduction: One of the main distinguishing factors between public and private sector organisations lies in their objectives and sometimes funding structure. While public sector bodies have a more social objective and focus more on the allocation or distribution of public goods and services within the country, private sector bodies have the main objective of increasing the wealth of their shareholders (IFAC, 2011). However, both private and public
Words: 2482 - Pages: 10
Profit Profit - the difference between the purchase price and the costs of bringing to market. - Is any amount of money that is left over from a company after all financial expenses have been paid. It is the money they are able to save once the business purchases have been made. - Is the money a business makes after accounting for all the expenses. - The positive gain from an investment or business operation after subtracting for all expenses. Opposite of loss.
Words: 708 - Pages: 3
Eastman Kodak | | | | | | |Comparative Income Statement |2004 |2003 |Difference |Change | |Sales |13517 |12909 |608 |4.71% | |Less COGS |9548 |8734 |814 |9.32% | |G.P |3969 |4175 |-206 |-4.93% |
Words: 365 - Pages: 2
1. Assets - are things of value owned by the business. 2. Liabilities - are the equities of the creditors, or the debts of the business. 3. Cash - is any medium of exchange that the bank will accept at face value. 4. Accounts Receivable - Money which is owed to a company by a customer for products and services provided on credit. This is often treated as a current asset on a balance sheet. 5. Notes Receivable - A note receivable is a formal promise to receive a specific amount of cash from another
Words: 484 - Pages: 2
GLOSSARY OF FINANCIAL TERMS Absorption costing A costing approach in which all manufacturing costs are charged to the product. | Absorption-cost pricing An approach to pricing that defines the cost base as the manufacturing cost; it excludes both variable and fixed selling and administrative costs. | Accelerated-depreciation method Depreciation method that produces higher depreciation expense in the early years than in the later years. | | Account A record of increases and decreases in
Words: 9078 - Pages: 37
total of $6,800 for services provided our clients. The general goals of financial reporting are to keep an accurate and ethical record of all financial transactions of a company while maintaining transparency and adhering to the generally accepted principles of accounting. The steps I too in the recording process for this assignment were to first make journal entries to accurately depict all financial transactions for the company. After making and double checking my journal entries, I entered them
Words: 275 - Pages: 2
------------------------------------------------- Debt A debt is an obligation owed by one party (the debtor) to a second party, the creditor; usually this refers to assets granted by the creditor to the debtor, but the term can also be used metaphorically to covermoral obligations and other interactions not based on economic value.[citation needed] A debt is created when a creditor agrees to lend a sum of assets to a debtor. Debt is usually granted with expected repayment; in modern society,
Words: 783 - Pages: 4
