Balance Sheet Los Lobos Balance Sheet Assets Dec 31 2007 Dec 31 2006 Current Assets Cash $35,000 32,000 Accounts receivable 33,000 30,000 Allowance for doubtful accounts (1,300) 31,700 (1,100) 28,900 Inventory 31,000 47,000 Total Current Assets 97,700 107,900 Property, plant, & equipment 100,000 95,000 Accumulated depreciation (16,500) 83,500 (15,000) 80,000 Total Assets 181,200
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ACC/545 Financial Reporting Los Lobos, Inc Classified Balance Sheet as of 12/31/2007 Current Assets Cash Accounts receivable (Net of Allowance) Inventory Total Current Assets Long-Term Assets Property, Plant, & Equipment (Net of Accumulated Depreciation) Total Long-Term Assets Total Assets $ 35,000 31,700 31,000 $ 97,700 $ 83,500 $ 83,500 181,200 Current Liabilities Accounts Payable Income Taxes Payable Current Portion of Long Term Debt Total Current Liabilities Long-Term Liabilities
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reported for current liabilities. • Prepare a statement of cash flows. Weekly Overview This week, students calculate asset and liability amounts, and research indirect and direct methods of determining net cash flow to prepare balance sheets. This information provides practical information and practice necessary for the enhancement of each student’s preparation as a CPA. Assignment Notes Learning Team Assignment: Los Lobos Ledger Preparation Purpose of Assignment Students work
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| 131,250 | | | Buildings | 306,250 | | | Equipment | 262,500 | | | Cash | | 700,000 | $700,000 X | $150,000 | = $131,250 | Land | | $800,000 | | | $700,000 X | $350,000 | = $306,250 | Buildings | | $800,000 | | | $700,000 X | $300,000 | = $262,500 | Equipment | | $800,000 | | | EXERCISE 10-6 (Continued) 2. | Equipment | 25,000 | | | Cash | | 2,000 | | Note Payable | | 23,000 | | | | | 3. | Equipment | 19
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learn important criteria for calculating capital changes, applying concepts of fixed assets and cost determination, and preparing consolidated financial statements. Other topics include the professional responsibilities of CPAs, deferred taxes, cash flow statements, balance sheet preparation, restructuring of troubled debt, and the intricacies of comprehensive income. Week 1 - Topic 1: Reporting Issues Objectives Differentiate among the services provided by auditors. Explain procedures for reporting
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CHAPTER 10 Acquisition and Disposition of Property, Plant, and Equipment ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises 1, 2, 3, 4, 5, 13 Concepts Problems for Analysis 1. Valuation and classification of land, buildings, and equipment. 1, 2, 3, 4, 6, 7, 12, 13, 15, 21 2. Self-constructed assets, capitalization of overhead. 5, 8, 20, 21 4, 6, 12, 16 3. Capitalization of interest. 8, 9, 10, 11, 2, 3, 4 13, 21 4, 5, 7, 8,
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The Relevance of the Value Relevance Literature For Financial Accounting Standard Setting: Another View Mary E. Barth Graduate School of Business Stanford University William H. Beaver Graduate School of Business Stanford University Wayne R. Landsman Kenan-Flagler Business School University of North Carolina – Chapel Hill January 2001 We thank Dan Collins, Brian Rountree, participants at the 2000 Journal of Accounting & Economics conference, and the editors, S. P. Kothari, Tom Lys,
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Journal of Accounting and Economics 50 (2010) 344–401 Contents lists available at ScienceDirect Journal of Accounting and Economics journal homepage: www.elsevier.com/locate/jae Understanding earnings quality: A review of the proxies, their determinants and their consequences$ Patricia Dechow a, Weili Ge b, Catherine Schrand c,n a b c University of California, Berkeley, CA 94720, United States University of Washington, Seattle, WA 98195, United States University of Pennsylvania
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CALIFORNIA CALIFORNIA An Interpretive History TENTH EDITION James J. Rawls Instructor of History Diablo Valley College Walton Bean Late Professor of History University of California, Berkeley TM TM CALIFORNIA: AN INTERPRETIVE HISTORY, TENTH EDITION Published by McGraw-Hill, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Previous editions © 2008, 2003
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PGDM 2009-2011 Business Communication II Did Slumdog Millionaire deserve the awards it got? Submitted to: Prof. Virupakshi Goud Submitted by Section C Names: Rachit Bhatia 2009156 Rachita Gulati 2009157 Declaration We, Rachita Gulati and Rachit Bhatia have prepared this report solely for our BC II project. We accept that every coin has 2 facets and we have tried to consider both the perspectives for the said scenario. But then again we might have been biased towards a single
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