10/1/2005 Dr. legal fee 400 (for Fred) Dr. cash 71600 Cr. common stock (for Fred: 1800 shares) 72000 10/1/2005 Dr. legal fee 400 (for Fred) Dr. cash 71600 Cr. common stock (for Fred: 1800 shares) 72000 1. Before 2005, service fee from lawyer $800, pay half half, then buy common stock 10/1/2005 Dr. legal fee 400 (for Bill) Dr. cash 19600 Cr. common stock (for Bill:500 share) 20000 2. November 1, 2005, purchased property with the aid of a $40,000 bank loan and $32,000 from company.
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BE1-3 At the beginning of the year, Hernandez Company had total assets of $800,000 and total liabilities of $500,000. Answer the following questions. (a) If total assets increased $150,000 during the year and total liabilities decreased $80,000, what is the amount of owner's equity at the end of the year? $530,000 is the amount of owner’s equity. (b) During the year, total liabilities increased $100,000 and owner's equity decreased $70,000. What is the amount of total assets at
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Jun.25th 2014 Background Timken Company Overview Founded in 1898 by Henry Timken and incorporated in 1904, The Timken Company (“Timken” or “the company”), is headquartered in Canton, Ohio. Timken is the largest manufacturer of tapered roller bearings and alloy seamless mechanical steel tubing in the United States and a leading global manufacturer of highly-engineered bearings, alloy and specialty steels, and a provider of related products and services. Timken is the largest North American-based
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Vipp The Danish entrepreneur company ! % * ( ( # # ! & ' ( # ) " # ! $ 1 “I never knew it was possible to spend so much money on a bathroom pedal bin. I’d been to the supermarket to return two bags full of recyclable bottles and cans, and, nosing around a few shops on the very short walk home, having extracted some cash from the bankautomat, and having purchased a photo-frame for my wife, I wandered into “liro”, a designer furnishings boutique and art gallery. Amongst their beautifully
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CHAPTER 3 The Accounting Information System ASSIGNMENT CLASSIFICATION TABLE | | | | |Brief | | | |A | |B | |Study Objectives | |Questions | |Exercises | |Exercises | |Problems | |Problems | | | | | | | | | |
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BALANCE SHEET AS AT ` Crore Particulars EQUITY AND LIABILITIES Shareholders' funds Share capital Reserves and surplus Deferred revenue Non-current liabilities Long-term borrowings Deferred tax liabilities (net) Other long-term liabilities Long-term provisions Current liabilities Trade payables Other current liabilities Short-term provisions TOTAL ASSETS Non-current assets Fixed assets Tangible assets Intangible assets Capital work-in-progress Intangible assets under development Non-current investments
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Pat Sharpe enjoys listening to all types of music and owns countless CDs. Over the years, Pat has gained a local reputation for knowledge of music from classical to rap and the ability to put together sets of recordings that appeal to all ages. During the last several months, Pat served as a guest disc jockey on a local radio station. In addition, Pat has entertained at several friends’ parties as the host deejay. On June 1, 2012, Pat established a proprietorship known as PS Music. Using an extensive
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borrow additional funds without first raising more equity. The fourth problem is that the return on assets was 4.7% in 1995. This ratio was low comparing to the industry level due to high total assets. Total assets are also inflated due to the liabilities taken in the form of trade credits by Mr. Clarkson. The company was holding too much inventory, which was unproductive and cost lots of storage expense. The fifth problem is that the current ratios from 1993 were too low comparing to the industry
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August 10, 2014 XACC 291 Assignment 2 E9-1 1 A. The acquisition cost for the plant asset will contain all spending needed to obtain the asset and make it prepared for its own purpose. 1B. 1. Land 2. Factory Machinery 3. Delivery Equipment 4. Land Improvement 5. Delivery Equipment 6. Factory Machinery 7. Prepaid Insurance 8. License Expense E9-7 A. 1. Straight Line Method 2011: $3,500 2012:$ 3,500 Accumulated
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26-4 Working Capital and Cash Conversion THE GREEK CONNECTIONBalance SheetAs of December 31, 2012 (in $ thousand) | Assets Liabilities and Equity | Cash $ 2,000 Accounts payable $ 1,500 Accounts receivable 3, 950 Notes payable
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