628 inventory. Plant and equipment totaled $158,700. Current liabilities were: accounts payable $13,446; wages payable $650; and property and taxes payable $4,124. Long-term debt totaled $92,800 and owner’s equity $70,959. By comparison, for December 31, 2010, the business had current assets of: $3,278 cash; $6,954 accounts receivable; $17,417 inventory. Plant and equipment totaled $144,500. Current liabilities were: accounts payable $9,250; wages payable $1,110; property and taxes payable
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because Tesco will produce less to sell which will drive customers away to different companies who are capable of giving them what they want. Equipment: Tesco have many resources that are vitally important to the financial development of the company. By having the right resources it allows Tesco to compete with the best in their industry as the equipment used are widely regarded as the industry’s finest. Land and Buildings: With lands and buildings, Tesco are able to keep all stock in a certain
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has available in selecting the key accounting policies. 3.1 Property, Plant and Equipment The PPE of BLD has high flexibility. As PPE is the major part of the total asset, it will affect the total asset strongly when it has any change. Hence the depreciation expenses of these assets have also significant proportion to the total costs of enterprise. According to the final report of BLD, the PPE which include buildings and leasehold property but exclude freehold land are depreciated using the straight-line
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MANAGEMENT ACCOUNTING FINANCIAL STATEMENT ANALYSIS OF SAN MIGUEL – PUREFOODS, URC AND RFM GROUP 2 ATENEO GRADUATE SCHOOL OF BUSINESS Arcangel, Abigail Coronado, Paula Marie Fernando, Franco Marquez-Lim, Michelle 1 of 34 Contents I. II. III. IV. V. VI. INDUSTRY ...................................................................................................................................... 3 COMPANY PROFILES .......................................................................
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“Baker Hughes Fiscal 2011” Patrice Johnson Professor Harper ACC 100 May 15, 2012 Baker Hughes Incorporated supplies oilfield services, products, and technology services and systems to the oil and natural gas industry worldwide. The company offers drilling and evaluation products and services, including drill bits for performance drilling, hole enlargement, and coring; conventional and rotary steerable systems; measurement-while-drilling and logging-while-drilling systems to perform reservoir
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UNIVERSITY OF THE PHILIPPINES DILIMAN – VIRATA SCHOOL OF BUSINESS Petron Corporation Case Presentation Michelle Therese Diaz | Christian Ernest Santos | Abigail Dy | Wilson Ramos | Christian Villar 1 December 2014 Contents The Company ............................................................................................................................................. 2 1.1. Overview .......................................................................................................
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at a discount rate of 10%? A. | $2.4 million | B. | $5.0 million | C. | $3.1 million | D. | $0.0 million | | 4. | A rental property is providing an acceptable market rate of return of 13%. You expect next year's rent to be $1.0 million and that rent is expected to grow at 3% per year forever. What is the current value of the property? A. | $7.7 million | B. | $10.0 million | C. | $33.3 million | D. | $50.0 million | | 5. | A building is appraised at $1
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explore issues surrounding the recognition of elements in financial statements” Contents Title: 3 Introduction & Objectives 3 Definitions 5 Recognition 5 Measurement 6 Discussion 6 Revenue Recognition (IAS 18) 6 Property, Plant and Equipment (IAS 16) 8 Xerox Revenue Recognition Scandal 9 Recognition in the Annual Statements 10 Conclusion 13 Bibliography 14 Appendices 17 Appendix 1 – Standards from IASB 17 Appendix 2 – Proposed plan for FASB and IASB 18 Appendix
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Introduction Basically, the study is on the differences of Generally Accepted Accounting Principles (GAAP) influence in property management industry. The study focuses on two basic accounting principles in valuing assets, which are fair value and historical cost. The property refers to the land and building, as those are the main part of total fixed assets of a company. Asset is the most important element in the balance sheet, hence the method used for assets valuation is very important to avoid
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an entity for a period of time is the | A) | retained earnings statement. | B) | income statement. | C) | statement of cash flows. | D) | statement of financial position. | 4. | Making and collecting loans and disposing of property, plant, and equipment are | A) | operating activities. | B) | investing activities. | C) | financing activities. | D) | liquidity activities. | 5. | In preparing a statement of cash flows, cash flows from operating activities | A) | are always
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