LIABILITIES AND EQUITY Current Liabilities Drafts and loans payable P74,128 P56,789 Accounts payable and accrued expenses 69,774 31,391 Finance lease liabilities - current portion 10,946 13 Income and other taxes payable 10,001 4,186 Dividends payable 826 573 Current maturities of long-term debt - net of debt issue costs 12,549 1,077 Total Current Liabilities 178,224 94
Words: 1085 - Pages: 5
Extra Credit Assignment ------------------------------------------------- 1. Fifty percent of the sales of Hanson Company sales are for cash; the rest are on credit. Seventy percent of the credit sales are collected in the month of sale, twenty percent in the month following sale, and five percent in the second month following sale. The remainder is expected to be uncollectible. Monthly sales are budgeted as follows: $280,000 for January, $240,000 for February, and $320,000 for March.
Words: 531 - Pages: 3
consuming the commodity. In addition, the consumer disposable income is reduced therefore the consumer is constrained in consuming other commodities. On the other hand, businesses are also affected by the purchasing of groceries. For instance, they get high income from the purchases. However, this depends on the demand and supply of the groceries. If the demand for the grocery is high and supply is low than the businesses have more income (Colander, 2010). On the other hand, if the demand is low and
Words: 1093 - Pages: 5
Implementation Plan Ricky Cravens STR/581 Strategic Planning & Implementation Dr. Johnnie Bejarano September 15, 2013 * Cintas Corporation is an organization with a highly integrated intelligence network. Cintas highly integrated network consist of 30,000 employees worldwide. Cintas Corporation initially focused all its operations on uniform management but in modern times it additionally designs, manufacturers and implements corporate identity uniform programs, mats, bathroom supplies
Words: 1279 - Pages: 6
Income Tax Rebates For Resident Individual With Chargeable Income Less Than RM35,000 |No. |Tax Rebate |Year Of Assessment |Year Of Assessment | | | |2001 - 2008 |2009 Onwards | | |
Words: 1988 - Pages: 8
Summary of the case: Palm Haul Sdn Bhd (PHSB) established in 2002 at Taiping Perak. It was a small and medium sized enterprise in crude palm oil (CPO) transportation business. PHSB was managed by En.H.Rossly and son in law of its founder, Datu S. Najeed. PHSB was facing the same problems likes others transportation companies which is drivers embroiling in oil piracy. The transportation companies will bear the responsibilities of compensation of the refineries if there any hijacking or piracy happened
Words: 1393 - Pages: 6
What was the motivation for the Diamond Foods scandal? Be specific, simply stating “greed” is insufficient. The motivation behind the Diamond Foods accounting scandal was to inflate income on financial statements in the years of 2010 and 2011. The company was able to do this by making payments to walnut growers for their product which is an expense to the company; however, the payments that Diamond Foods made weren’t in the correct period and pushed into the following year. This made the financial
Words: 473 - Pages: 2
available in the USA, several European countries, several Caribbean countries. The cost is negotiated with each vendor who offers the product in a retail store. Revenue Recognition The revenue is a computation of revenues, total expenses, and net income. It explains how the profit is calculated. Cost of Products Sold The cost of products sold is classified in detail in regards to the supplies and materials used to produce the product Selling, General and Administrative Expense The cost incurred
Words: 821 - Pages: 4
choices they make on what and how they spend money. This fallacy attempts to explain why people treat money differently depending on where the money comes from (Marrotta, 2008). Mental accounting explains that consumers have a tendency to spend earned income, such as their paychecks in one manner while they spend “windfall” money such as a lottery winning in another. It also explains that people develop psychological accounts in their minds to explain the costs and benefits that they associate with the
Words: 981 - Pages: 4
spreadsheet, along with graphs projecting your company’s revenues and income for the five-year period starting in 2013. Assignment: You’ve come up with an idea for a great new company you want to start, and plan to begin operations in 2013. You’ll create a projection of the revenues and earnings of your company for a five year period so you can make presentations to potential investors. Worksheet: Create the 2013 expected income statement for your company. Keep it simple – you’ll have salaries
Words: 347 - Pages: 2
