Financial Reporting Problem II Are the assets included under the company’s current assets listed in the proper order? Explain your answer. How are the company’s assets classified? ASSETS Cash and cash equivalents $ 15,659 $ 17,148 Marketable securities (Note 6) 20,284 18,618 Finance receivables, net (Note 7) 71,510 69,976 Other receivables, net 10,828 8,565 Net investment in operating leases (Note 8) 16,451 12,838 Inventories (Note 10) 7,362 5,901 Equity in net assets of affiliated
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Cash dividends is a distribution of cash to shareholders. For a corporation to pay a cash dividend, it must have all three of the following: 1. Enough retained earnings 2. Enough cash 3. A declaration of dividends On the declaration date, a company’s board of directors formally declares the cash dividend and announces it to shareholders. ● An entry is required to recognize the increase in cash dividends and the increase in the current liability dividends payable. Example: To
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Amalgamation of partnerships Combination of two or more entities to form one entity. Reasons for amalgamation * Eliminate wasteful competition * Pool business talents and acumen for enhanced performance * Enjoy economies of scale Secure greater efficiency Accounting procedure Involves two processes; * Closing the books of the individual firms * Preparing the opening statement of financial position for the new firm A. Closing the books of the individual firms 1. Open
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ASC Research Case—Defensive intangible Asset Ahorita Company manufactures wireless transponders for satellite applications. Ahorita has recently acquired Zelltech Company which is primarily known for its software communications development, but also manufactures a specialty transponder under the trade name “Rapido” that competed with one of Ahorita’s products. Ahorita will now discontinue Rapido and projects that its own product line will see a market share increase. Nonetheless, Ahorita’s management
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Problem Set II ACC300 P2-6A A. Earnings per share. | | Earnings per share = Net 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
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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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Barnes & Noble, incorporated on November 19, 1986 and today is one of the largest book retailer in the United States. The company is known for its large upscale bookstores, many of which encompass a café serving Starbucks Coffee and discount on books that are rated bestsellers. In addition, it is a Fortune 500 company and is a traded company listed on the New York Stock Exchange (NYSE) under the symbol "BKS." Barnes & Noble significantly impacted the bookselling industry by making it easy
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Competition Bikes Inc. Summary Report 2014 Here is the Horizontal Analysis for years 6 and 7 for Competition Bikes Inc. Income Statement Sales Revenue: Net sales for Competition Bikes Inc. increase from $4,485,000 to $5,980,000, which was an increase of 33.3% for the year. This is a strength for the company since it shows that the demand for Competitions Bike’s product has increase over the year. This figure should also make stockholders very happy since the money the company makes
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[pic] (The Walt Disney Company) The Intangibles On the balance sheet of many corporations you find listed under non-current assets any intangibles a company might have. I’ve included a copy above of The Walt Disney Company’s balance sheet as an example. It lists intangible assets and goodwill separately near the bottom of the asset section. I’ll be discussing various intangibles such as goodwill and how they are acquired, recorded and valued in accordance with both GAAP and IFRS. It’s important
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PepsiCo, Inc. FIN/571 March 12, 2014 Eric Hohl Abstract It is important to know the financial condition of a company. The financial condition of a company is important to managers, investors and also creditors. Financial statements tell you the performance of the company and are what others use to measure companies. Financial analysis determines a company’s health and stability. The data gives you an intuitive understanding of how the company conducts business (Griffin, 2014).
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