assets to the realisation accounts except cash/Bank Dr. Realisation A/C with book values Cr. Asset A/C 3. Transfer all the liabilities to the realisation A/C Dr. Liability A/C Cr. Realisation A/C 4. for the agreed values of the assets and liabilities Dr. Asset A/C- For the new firm Cr. Realisation A/C Dr. Realisation A/C Cr. Liability A/C- For the new firm 5. for the balances in the realisation accounts Dr. Realisation A/C using the old Cr. Old Partners
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income/Average No. of outstanding shares | | 2011-$2.00 = 60,000/30,0002012- $2.12=70,000/33,000 | | B. Working capital. | | Working capital = current assets - current liabilities | | 2011- 85,000 = 155,000-70,0002012- 113,000 = 188,000- 75,000 | | C. Current ratio. | | Current ratio = Current assets/Current liability | | 2011 :2.2 =155,000/70,0002012: 2.5 = 188,000/75,000 | | D. Debt to total assets ratio. | | | | Debt to total asset ratio = Total debt/Total assets | |
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FASB Accounting Standards Codification Written Project (120 points) Due date: May 6 (No late submission is accepted) ------------------------------------------------- Instructions: Answer all three questions listed in the Case 12-3 (Provisions and Contingencies) This assignment is suggested to be a typed double-spaced document between 1 to 4 pages. ------------------------------------------------- Information about FASB Accounting Standards Codification: Analyze the case and provide
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CHICAGO Marriott Corp. Spinoff (A) by Professors Robert Gertner and Steven Kaplan On October 5, 1992, the Marriott Corporation announced plans to spin off its profitable hotel management business leaving its real estate assets as part of the successor corporation. At first glance the deal did not seem very different from many other corporate restructurings. However, because much of Marriott's existing debt was to become an obligation of the real estate assets only, the default risk on that debt
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Chapter 2: Recording Business Transactions 1. Which of the following accounts is NOT an example of an asset? A) Accounts receivable B) Cash C) Building D) Notes payable Which of the following accounts is NOT an example of a liability? A) Wages payable B) Notes payable C) Accounts payable D) Accounts receivable Which of the following accounts is NOT an example of an owner’s equity account? A) Drawing B) Capital C) Additional investments D) Cash Accountants first record transactions in the: A)
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Executive Summary “Bukayo” Sweets is a dessert located in the rural area like Barangay Bogña. We can loosely be described as a pride desert where customers will enjoy its yummy taste. We will interact with our customers to have a better relationship with the customer. “Bukayo” Sweets will hold true to its vision of being present in every meal that everyone loves to eat. Unlike other places each of them has a product that they have been proud of, like the “Durian in Davao” the “Mango in Batangas”
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STATEMENT TEST 3 IDENTIFYING MAJOR FUNDS •THE GENERAL FUND •THIS FUND IS ALWAYS MAJOR •OTHER FUNDS (BALANCE SHEET OTHER TEST OR OPERATING STATEMENT TEST): 4 IDENTIFYING MAJOR FUNDS – CON’T. • A FUND NEED ONLY EXCEED 10% OF ASSETS OR LIABILITIES OR 10% REVENUES OR EXPENDITURE/EXPENSES A FUND MUST PASS THE 10% TEST BEFORE THE 5% TEST IS NECESSARY A FUND IS MAJOR IF THE 10% AND 5% CRITERIA ARE MET FOR A SINGLE ELEMENT 5 • • IDENTIFYING MAJOR FUNDS – CON’T. IF ONLY GOVERNMENTAL OR
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Tootsie Roll Industries, Inc.: Loan Package Tootsie Roll Industries, Inc.: Loan Package Tootsie Roll Industries is applying for a loan package that will help them achieve superior things. There are many opportunities that can be accomplished by allocating money to different areas. The different areas include healthier ingredients, expansion, and advertising. These areas will increase the production and success of the Tootsie Roll Industries, Inc. Within this loan package, there are many
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Executive Summary INTRODUCTION The number of movie theaters is decreasing as the major chains create multiplexes that pile more people into smaller spaces. This profit strategy has left once popular downtown theaters vacant. Second Run Pizza is a theater/restaurant business that believes there is a significant number of theater-goers that are craving a more satisfying and enjoyable way to catch a movie and a bit to eat. Second Run Pizza is renovating the downtown City plus Theater and creating
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which the entity is exposed during the period and at the reporting date, and how the entity manages those risks. 2. The principles in this IFRS complement the principles for recognising, measuring and presenting financial assets and financial liabilities in IAS 32 Financial Instruments: Presentation and IAS 39 Financial Instruments: Recognition and Measurement. Scope 3. This IFRS shall be applied by all entities to all types of financial instruments, except: (a) those interests
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