chapter 2 1) Assets = Liability + Shareholders’ equity Shareholders’ equity = Assets – Liabilities = ( 5,100 + 23,800 ) – ( 4,300 + 7,400 ) = 17,200 Net working capital = Current assets – Current liabilities = 5,100 – 4,300 = 800 2) Net sales 586,000 COGS 247,000 Depreciation 43,000 Earnings before interest and taxes 296,000 Interest paid 32,000 Taxable Income 264,000 Taxes ( 35% ) 92,400 Net income 171,600
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3-4(a) A tabular analysis of the transactions made during August 2010 by Witten Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. | ------------------------------------------------- Assets | = | ------------------------------------------------- Liabilities | + | ------------------------------------------------- Stockholders' Equity | | | ------------------------------------------------- Cash | + | -------------------------------------------------
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regarding the financial status of an organization. (Chakrabarty, 2011; Gill, 2007) In the US, Generally Accepted Accounting Principles (GAAP) “are the accounting rules used to prepare and standardize the reporting of financial statements, such as balance sheets, income statements and cashflow statements, for publicly traded companies and many private companies” (Paul, 2008). Many countries, like the US, have their own set of GAAP. Globalization of business is increasing the need for a more unified system
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Ledger also keeps track of Non-Financial accounts such as “department sales and inventory; department and store headcount. Looking at the description on the intranet site, the General Ledger module as-well provides Financial Reporting such as Balance Sheet, Income Statement, Cash Flow, and Trend Analysis with period over period, store comparisons, and department comparisons, this module provides everything Kudler Fine Foods needs to produce all of the necessary financial reports and even budget reports
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Solutions for Selected Problems in Chapter 2 1. To find owner’s equity, we must construct a balance sheet as follows: Balance Sheet CA $5,100 CL $4,300 NFA 23,800 LTD 7,400 OE ?? TA $28,900 TL & OE $28,900 We know that total liabilities and owner’s equity (TL & OE) must equal total assets of $28,900. We also know that TL & OE is equal to current liabilities plus long-term debt plus owner’s equity, so owner’s equity is:
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Little Bit, Inc. Statement of Cash Flows For Year Ended December 31, 2009 |Cash Flows from Operating Activities | | | | | | | Net Income | | | |by operating activities | | | | | | | | Depreciation
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Financial Accounting 504 23-Jun-13 Professor Chung Oracle v Microsoft Final Course Project As noted in Wikipedia Oracle is headquartered in Redwood, California. It was founded in 1977 and is the world's third largest soft wear developer in sales. According to Yahoo Finance Oracle is a multi-faceted operation. Oracle provides a vast amount of services for the internet and computer. It provides cloud applications, IT consulting services, licenses middleware software which includes database and
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Annual Report Analysis | The Walt Disney Company (DIS) | | Introduction In order to make the right investment decision, one must analyze the company of their interests. It is not wise to invest money on a company that is not doing well within their industry. On the other hand, if companies want your investments they must provide accurate, substantial evidence to show that you will make the right investment if you invest in them. Therefore, publicly traded companies publish their financial
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Jones Electrical Distribution Electric Suppliers Finance Essay Introduction Jones Electrical Distribution is an Electrical company which has predicted that sales for the company will increase. However, over the years the company has experienced some difficulties in its cash flow and decided that in order to keep the company in operation, it was evident that additional financing would be needed in the form of a loan. However, the loan limit for borrowing could not have exceeded $250,000.00. This
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Business Plan Pakmarica Painters is a new company and is a sole- proprietor business made of one principal owner with combination of experience of 30 years in the painting industry. Pakmarica Painters will be owned and directed by Anisa P Khan. The owner will be contributing a considerable amount of her own resources into the business and will also be trying to obtain funding of $50,000 to cover start the business and future development of the business. the company. The business has secured
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