12/10/13 Cash and Receivables Print this page ACCOUNTS RECEIVABLE 3. Define receivables and identify the different types of receivables. Receivables are claims held against customers and others for money, goods, or services. For financial statement purposes, companies classify receivables as either current (short-term) or noncurrent (long-term). Companies expect to collect current receivables within a year or during the current operating cycle, whichever is longer. They classify all other
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Homework-1 Part 1 IRS method Gross income Advertising expense use it for property taxes and mortages interest Mortages interest Property taxes use it for rental expense and deperication dedection Repaires&maintenance Utilities Insurance Depreciation Depreciation (on entire condo) 10,000 -500 9,500 -2,386 -614 6,500 -443 -648 -682 4,727 -4,727 5,795 3,500 900 650 950 1,000 rent days/total days 68% 75/110 Insurance 8,500 1,000 a Net rental income a. What is the total amount of
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• GAAP meaning generally accepted accounting principles (GAAP) are basic sets of rules governing how the financial books and records of an organization are to be maintained; how revenues, expenditures, and expenses are to be accounted for; and how financial statements are to be prepared. (Ch. 3, pg. 20) • Basic accounting formula is used to determine what might be called the net worth of a private nonprofit human service agency. )Ch. 3, pg. 28) • Transaction/T-account is a transaction of any financial
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II. Shareholder Analysis Shareholders encourage top management to reinvest, grow earnings, dividends and increase sales. Seven Eleven posted record operating and net income in the fiscal year ended February 2013. Seven Eleven policy is to reflect earnings growth in return of profits to shareholders. They aim to maintain a consolidated payout ratio of at least 35%, and aim to improve it further. Fiscal Year 2013 | 2012 Yen | 2013 Yen | 2013 US Dollars | Revenues from Operations | *4,786,344
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Financial forecasts As part of your plan you will need to provide a set of financial projections which translate what you've said about your business into numbers. You will need to look carefully at: how much capital you need if you are seeking external funding the security you can offer lenders how you plan to repay any borrowings sources of revenue and income You may also want to include your personal finances as part of the plan at this stage. 1 Financial planning
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Candela Corporation XXXXXX XXXXXX ACC/230 February 2, 2014 Dr. Sergio Perez Candela Corporation “Candela Corporation is a pioneer in the development and commercialization of advanced aesthetic laser systems that allow physicians and personal care practitioners to treat a wide variety of cosmetic and medical conditions” (Fraser & Ormiston, 2007, p. 146). Candela has been in business for more than 34 years. In the beginning, they were developing and enhancing laser technology applications
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After Tax Interest Cost The after tax interest cost increased greatly during the past 3 years, especially from 2012 to 2013, which shows that the company is spending more money on financing. The net operating profit after tax increased from 2011 to 2013 by 20%. This shows that the operating profit including the financing cost which is the return for net assets. However there was a huge decrease in 2012, where one of the reasons is the extremely high tax rate. ROE ROE measures a corporation’s
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Emily Schnarr Honors Component Accounting 303 Chapter 3 Accounting, Analysis, and Principles Accounting: 1) Depreciation Expense $9,500 Accumulated Depreciation 9,500 2) Interest Expense 8,250 Interest Payable 8,250 3) Unearned Service Revenue 10,000 Service Revenue 10,000 4) Advertising Expense 2,500 Prepaid Advertising 2,500 5) Salaries and Wages Expense 3,500 Salaries and Wages Payable 3,500 Analysis: Revenues Ticket Revenues $360
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Week Four Individual Paper XXX ACC/290 September XX, 2012 XXX Week Four Individual Paper The current reading supports that commercial accounting and generally accepted accounting principles, strongly advise the accrual basis of accounting versus the cash basis of accounting. The accrual basis of accounting confirms that when transactions alter a business’s financial statements they are recorded during the period that the events happened, regardless if there was an exchange of cash or
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GAAP- (Generally Accepted Accounting Principles) Is rules that govern the way that accountants do the financial reports. http://www.investorwords.com/2141/GAAP.html Basic accounting formula- Is the formula that is used in accounting that reveals the total assets, liabilities, and the shareholders equity. Assets= Liabilities + shareholder Equity. http://www.investopedia.com/terms/a/accounting-equation.asp Transaction, t-account- It is an analysis of a transaction being processed in an account,
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