Question 1) Many people intentionally (fraudulently) misrepresent the figures to the accounts in exhibit 1 regarding the journal entries 1 through 8. Enron, and other companies/organizations have shown us that individuals have various excuses to their reasoning on why they committed fraud – according to anti-fraud partners, “the fraud triangle includes pressures (financial pressure, vice pressure, work-related pressure, other pressure), opportunity (lack of controls, can’t judge performance quality
Words: 1505 - Pages: 7
| |Total assets | | |$917,617 |$983,646 | | | | | | | | | | | | |Liabilities and owners' equity | | |Current liabilities | | | | | |Accounts payable | |$214,414 |$192,480 | | |Notes payable
Words: 281 - Pages: 2
|ASSETS = CAPITAL + LIABILITIES | Assets: resources in the business Capital: resources supplied by the owner Liabilities: resources supplied by someone other then the owner Capital = - Accounts recievable / Debtor is a person who owes money to your business for goods or services supplied to him. It is a type of assets. Accounts payable / Creditor is a person to whom money is owed for goods or services. It is a type of liabilities. Exercise 1:
Words: 376 - Pages: 2
. Acct 1 Student’s Name Professor’s Name Institution Dates 1. a) Cash flow statement provides solvency and liquidity information of a firm, additional data for evaluating changes in liabilities, equity, and assets, and timing, probability and amount of future cash flows. The cash flow statement can convey information through the use of annual reports that many firms publish at the end of trading periods. b) The indirect method uses simple reports that are mostly in universal use
Words: 636 - Pages: 3
Classify items as assets, liabilities, and stockholders’ equity and prepare accounting equation. The following items were taken from the balance sheet of Nike, Inc. All dollars are in millions. $2.291,1 $2.357,0 1 Cash 7 Inventories 2.883,9 86,3 2 Accounts receivable 8 Income taxes payable Common stock 2.874,2 Property, plant, and equipment 1.957,7 3 9 342,9 5.818,9 4 Notes payable 10 Retained earnings 3.759,9 2.815,8 5 Other assets 11 Accounts payable 1.311,5 6 Other liabilities Instructions: Perform
Words: 256 - Pages: 2
Financial Statement Review and Analysis Strengths: Liquidity – RFA has an adequate amount of cash to meet it short-term obligations. Most funders like to see a ratio of 1.5 or higher. RFA exceeds that requirement indicating that it is in good financial health. Balance between administrative, fundraising and program related expenses - An average funder likes to see an organization whose program expenses are between 75 and 90% of their total expenses. RFA is a little on the high side at
Words: 316 - Pages: 2
the boat on either the assets or the liabilities. 2. No matter the surge in demand Jensen should still record his inventory at what it is and not what he thinks it should be. 3. Jensen should not include the $10,000 that his brother owes him in this balance sheet. Jensen does not have that money now. It’s been 5 years anyways. He probably won’t ever see that money again. Merando Corporation Balance Sheet December 31, 2014 Assets | Liabilities & Stockholder’s Equity | Cash |
Words: 314 - Pages: 2
3570 1398 2172 201 3808 1564 2244 247 3987 1743 2244 283 6048 6029 9155 8730 Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Notes Payable - banks Income Taxes Payable Current Installments - L.T debt Total Current Liabilities 1586 1547 149 1010 4292 1849 2176 0 980 5005 1717 3727 0 1060 6504 1755 3041 0 207 5003 Long Term Debt Term Loan Notes Payable to Bank Total Liabilities 0 0 4292 0 0 5005 0 0 6504 0 0 5003 Stockholders' Equity Common Stock Additional
Words: 403 - Pages: 2
Equivalents 500 3. Inventory 1,000 4. Accounts Receivable 500 5. Property, Plant, Equipment 1,000 6. Less: Accumulated Depreciation (500) 7. Total Assets 2,500 8. Liabilities 9. Accounts Payable 400 10. Debt 1,000 11. Deferred Taxes 0 12. Total Liabilities 1,400 13. Equity 1,100 14. Total Liabilities
Words: 817 - Pages: 4
Business Analysis: Haefren Baum “Show Me The Money” Christy Lopez Johnathan Putmon Harikrishna Patel Nikhil Dargani Darrell Springer Rayhaan Malik Financial Analysis and Introduction to Loan Structuring Professor Hadiye Aslan February 16, 2016 Name of the Business Haefren Baun Nature of the Business Haefren Baun is a retailer of furniture located in Germany. They have been purchasing furniture from the furniture manufacturing company, Wiegandt, which manufactures high-quality furniture
Words: 901 - Pages: 4
