Comparing and Contrasting Current and Noncurrent Assets In financial accounting, a balance sheet statement is one of the main financial statements that managers and investors look at when looking at the financial health of any company. The balance sheet consists of assets, liabilities and ownership equity at a specific date in time. Most balance sheet statements are created to reflect the financial health of the company at the end of the company’s fiscal period. This paper will be focusing on comparing
Words: 802 - Pages: 4
revenues and expenses grouped for planning and control. The audited and unaudited balance sheets from the Patton-Fuller statements differ by the net allowance of bad debts and retained earnings, or unrestricted fund balance. The audited version of the balance sheet states that 2009 has a net allowance of $11,757 for bad debts and a net allowance of $7,533 for bad debts in 2008. The unaudited version of the balance sheet states that 2009 has a net allowance of $10,757 and a net allowance of $6,777 for
Words: 965 - Pages: 4
of the following are benefits of providing financial information? 13. (TCO D) The balance sheet is useful for analyzing all of the following except 14. (TCO D) The balance sheet contributes to financial reporting by providing a basis for all of the following except 15. (TCO D) The net assets of a business are equal to 16. (TCO D) Stine Corp.'s trial balance reflected the following account balances at December 31, 2010: Accounts receivable (net) $24,000 Trading securities 6,000 Accumulated
Words: 868 - Pages: 4
340 Wages 72,500 Insurance 4,500 Taxes 32,500 Depreciation 28,500 Other 45,000 Total Expenses 275,340 ------------------------------------------------- Net Income $246,660 Grennell Farm Balance Sheet (Sales/Delivery Method) ------------------------------------------------- Year Ending December 31, 2009 Assets Liabilities Current Assets Total Liabilities 33,000 Cash 30,900 Paid-In Capital 450,000 Inventory 92,100
Words: 721 - Pages: 3
Net Income v. Decreases from Withdrawals and Net Loss c. Balance Sheet vi. “Statement of financial position” vii. Lists all Assets, liabilities, and owns viii. As of a specific date + d. Statement of cash flows ix. Cash receipts and cash payments 2. Describe how changes to a company’s revenue and expenses affect their Income Statement and Balance Sheet. Revenues & Expenses on the income statement affect the Net Income, by
Words: 1002 - Pages: 5
Budgeting 企业现金需求分析和预算 1 Case Explanation: cash budgeting History: Jefferys, invention of Pasta server Production: data Marketing: data Financial Implication: data Data: Composition of Canadian Households; Balance sheet(July 15, 1994) Jefferys Personal balance sheet (July 15, 1994) Production Schedule in Unit 2 Study Questions Q1：What is the Case? (1)event?(2)Companies?(3)Persons?(4)Time? What is the problem?(5)Why is the problem?(6)Possible Solutions? Q2：Analyses (1) Background
Words: 563 - Pages: 3
26 EBT (Earning Before Tax) Provision for Tax 7.94 9.47 13.24 15.79 PAT (Profit after Tax) Note: Gross Margin = Sales – Cost of sales = 132-102.96 = 29.04 PBIT = Gross Margin + Other Income – Admin Expenses – Selling and Distribution Expenses Balance Sheet of Safal Enterprises As on 31st March 2014 2015 ₹ in crores Assets Fixed Assets (Net) Current Assets Inventory Accounts receivable Cash Total Assets Liabilities & Owner’s Equity Share Capital Reserves & Surplus Debt (Long Term) Current Liabilities:
Words: 1108 - Pages: 5
note is designed for an introduction to corporate finance class. The note prepares students for either a case such as Clarkson Lumber or a real-word project in which proforma statements are needed. This note explains how to build a proforma balance sheet and intentionally does not include a complete proforma income statement so that the students will have to demonstrate some ingenuity when doing the follow-on case or project. The note is a nice supplement to both the advance and remedial corporate
Words: 5391 - Pages: 22
Q9-1. (a) Trading securities are reported at their fair value in the balance sheet. (b) Available-for-sale securities are reported at their fair value in the balance sheet. (c) Held-to-maturity securities are reported at their amortized cost in the balance sheet. For marketable securities, fair value and market value are usually synonymous. Thus, trading and available-for-sale securities are recorded on the balance sheet at market value. Q9-2. An unrealized holding gain (loss) is an increase
Words: 5437 - Pages: 22
Financial Statements Paper The 4 fundamental monetary reports are the balance sheet, income Statement, retained earnings statement, as well as statement of cash flow (Kimmel, Weygandt, Kieso, 2011). The balance sheet is used to show an idea of what a business has (Kimmel, Weygandt, Kieso, 2011). The balance sheet reports the quantity of assets and claims to assets for a time period (Kimmel, Weygandt, Kieso, 2011). Assets are products the business has that might be used if required to get money
Words: 789 - Pages: 4
