Acct # | Acct Title | W/P Ref | Last Years (Audited) | Current Years (Unaudited) | 10100 | Cash on Hand | | $1,987.28 | $2,275.23 | 10200 | Regular Checking Account | | $198,116.52 | $532,125.92 | 10300 | Payroll Checkiing Account | | | | 10400 | Savings Account | | $3,044,958.13 | $3,670,599.15 | 11000 | Accounts Receivable | | $16,410,902.71 | $49,780,259.98 | 11400 | Other Recievables | | | $1,000,000.00 | 11500 | Allowance for Doubt. Accts | | -$1,262,819.88 | -$1,254
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Usually, stockholders are interested in profitability ratios. However, lenders and suppliers favor liquidity ratios detailing how assets compare with current liabilities. Respectively, according to results for Liquidity and Asset Utilization, the current ratios, (current assets / current liabilities) shows for every $1.00 of current liabilities for Nike, Inc. has 3.1:1 (2007) and 2.8:1 (2006). On the other hand, Gap Inc. has 2.2:1 (2007) and 2.7:1 (2006). Specialty retailers’ average return is greater
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but their liabilities are lower and continued to decrease during the last year. Coca-Cola’s total liabilities in 2004 were $15,104.00, in 2005 their liabilities decreased by $4114.00, compared to PepsiCo’s, whose liabilities in 2004 were $14,464.00 and only continued to increase during the year by $3012.00 bringing their 2005 liabilities to $17,476.00.The rate at which Coca-Cola decreased from 2004 to 2005 was 27.2% compared to PepsiCo’s 20.8% decrease; the speed at which their liabilities decreased
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Accounting Exercises Charles Peterson Grantham University Exercise 2-9A Prepaid items on financial statement Therapy Inc. experienced the following events in 2013, its first year of operation: 1. Performed counseling services for $18,000 cash. 2. On February 1, 2013, paid $12,000 cash to rent office space for the coming year. 3. Adjusted the accounts to reflect e amount of rent used during the year. Required Based on this information alone a. Record the events under
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experience in both areas before starting, including areas such as management and accounting. If you buy an existing bakery, carefully evaluate the opportunity. Study the reasons for selling and assess potential profits, sales, expenses, assets and liabilities. Consult with an expert about the condition of the bakery equipment. Ask a lawyer to review any agreement. If you start a new bakery, do the same kind of careful assessments and consult with an accountant and a lawyer. Refer to the Service Business
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INA [pic] Part 1: General Situation of SINA SINA is an online media company for China and Chinese communities around the world. SINA operates four major business lines: SINA Weibo, SINA Mobile, SINA Online, and SINA.net. SINA has over 100 million registered users worldwide. SINA was recognized by Southern Weekend as the "Chinese Language Media of the Year" for 2003. SINA owns SINA Weibo, a sort of Facebook–Twitter social network hybrid all rolled into one, which has 56.5 percent of the
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000 Incr $2,400 subtract (-) Investments 138,000 114,000 Incr $24,000 Plant assets 270,000 242,500 Incr $27,500 Less: Accumulated depreciation (50,000) (52,000) Decr $2,000 Total $ 682,500 $ 514,750 Liabilities and Stockholders’ Equity: Accounts Payable $ 112,000 $ 67,300 Incr $44,700 add (+) Accrued expenses payable 16,500 17,000 Decr $500 subtract (-) Bonds payable 110,000 150,000 Decr $40,000 Common stock
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period from Balance Sheet) - Increase in CURRENT Asset accounts other than cash (calculate the difference between this period and last period from Balance Sheet) + Increase in CURRENT Liabilities accounts (calculate the difference between this period and last period from Balance Sheet) - Decrease in CURRENT Liabilities accounts (calculate the difference between this period and last period from Balance Sheet) + Loss on Disposal of PPE/Fixed Assets used in normal operations (From Income St.) - Gain
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COMPREHENSIVE PROBLEM: CHAPTERS 2 TO 4 Julie Molony opened Julie’s Maids Cleaning Service Inc. on July 1, 2008. During July, the company completed the following transactions. July 1 Issued $14,000 of common stock for $14,000 cash. 1 Purchased a used truck for $10,000, paying $3,000 cash and the balance on account. 3 Purchased cleaning supplies for $800 on account. 5 Paid $1,800 on a one-year insurance policy, effective July 1. 12 Billed customers $3,800 for cleaning services. 18 Paid $1,000
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2012 | Assets | Cash | | | | | $ 27,280 | | Accounts Receivable | | | | | 88,040 | | Total Assets | | | | | $ 115,320 | | Liabilities and Stockholders' Equity | Liabilities | | | | | | | | | | | | $ 80,600 | | Stockholders' Equity | | | | | | | | | | | | 34,720 | | Total Liabilities and Stockholders' Equity | | | | | $ 115,320 | | | | | | E 1-5 a. Gabelli Corporation was formed on January 1, 2012. At December 31
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