To: Mr. John Malone From: Mr. John Doe CC: Ms. Melissa Dunhill Mr. Tim Cunningham Re: Dakota Office Products Dakota Office Products (DOP) is concerned with the most recent financial statement results after realizing an apparent yearly loss. This is the first loss in the company’s history, which is alarming to management and operations. The income statement, provided in Appendix I, indicates that DOP suffered a net profit before taxes of -1.3% in the year 2000. This memo is in direct regards
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Exercise 15-11 Situation 1 (a) $600,000 ÷ 5.88923** = $101,881 fair lease value payments ** present value of an ordinary annuity of $1: n=10, i=11% (b) $101,881 x 5.88923** = $600,000* lease leased asset/ payments lease liability * rounded ** present value of an ordinary annuity of $1: n=10, i=11% Situation 2 (a) $980,000 ÷ 9.12855** = $107,355 fair lease value payments ** present value of an ordinary annuity of $1:
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Once we begin to take a look at Tim’s income statement, greatest expense is the supplies for the coffee shop. Since there are new businesses that are moving in and around town, it is safe to say that Tim’s business will probably pick up. If his business picks up then Tim’s income will increase. But there is a price to pay with the increase in his income; there will be an increase in his expenses. We can see that Tim’s highest expense is his supplies, so this also means he will have to put out more
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14 ques | | | | | | | | | | chap 1.2.3.4.6.7 | | | | | | | | | ques1. multiple chapter 1. | | | | | | | | which statement user of accounting incorrect | Chapter 1 shareholder will answer. What they concern Financial statement will include the users such as managers, investors, creditors, and regulatory agencies. The purpose of looking at the financial statement is to make decision on whether to invest or loan money. Types of corporate available Proprietorship
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Week 2 Assignment ACC 206 1. Analysis of stockholders' equity 1. Preference stock (100 par value) issued during 20X6 = 580,000 – 500,000 = $80,000 Number of preference shares issued during 20X6 = Par value of preferred shares issued / Par value per share of preferred shares = 80,000 / 100 = 800 shares 2. Common stock (10 par value) sold in 20X6 = 2,350,000 – 1,750,000
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UNIT INTRODUCTION FOR GSB 701: INTRODUCTORY ACCOUNTING Unit aims GSB 701 - Introductory Accounting aims to give you an understanding of: • The theory and application of concepts relating to the accounting discipline at the introductory level; • The double-entry book-keeping system; and • All major financial statements prepared by business organisations. In addition, the unit encourages you to: • analyse; and • apply these principles to simulated problems. Prerequisites This unit should
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holders. An income statement which is referred as a profit and loss statement is period specific usually monthly but may also be done in quarters or yearly. Income statements contain information regarding revenue, capital expenses, loss, and profits, and operating expenses. This type of statement allows the company to compare the budget to years prior. A statement of cash also is referred as the sources and uses of funds statement. The cash flow breaks down into three categories operations
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cash as well as for credit. The following is the summary of balances of various accounts for the transactions that took place during the year. Trial Balance as on December 31, 2010 Particulars | Expenses/Assets | Incomes/Liabilities | Capital | | 2000000 | Drawings | 2000 | | 12% loan | |
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cash as well as for credit. The following is the summary of balances of various accounts for the transactions that took place during the year. Trial Balance as on December 31, 2010 Particulars | Expenses/Assets | Incomes/Liabilities | Capital | | 2000000 | Drawings | 2000 | | 12% loan | |
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140. Harley Davidson time-interest-earned ratio was better in 2013. 2013 Tax expenses: $380,312 Net Income: $733,993 Interest expenses: $165,491 Ratio: 257% 2012 Tax expenses: $337,587 Net Income: $623,925 Interest expenses: $195,990 Ratio: 196% This was calculated by “the sum up the net income of the company, tax expense, and interest expense altogether, and then divides this sum by the interest-expense. This shows the company’s capability to meet up interest payments when due” (analysis)
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