Samantha Kozar Chapter 21 Summary ACCT 305-001 Spring 2013 The Leasing Environment Most companies and businesses today lease several different types of things especially businesses in the agriculture and construction sectors. A lease is a contractual agreement between two people; a lessor and a lessee. A lessor is one who owns the property, while a lessee is given rights to use their property for a time period. Lessors come in different types of categories such as banks, captive leasing
Words: 1767 - Pages: 8
Business Plan April 1, 2011 ACC/220 Survey of Accounting: The Maze of Numbers The name of the Company shall be Triumph Trading Company to be located at 360 Maryland Drive, Amherst, NY, 14222. Our mission is to be the best and leading company in the country, making our goods timely available for our consumers. The company’s activities shall include the distribution and sales of industrial and domestic cleaning materials. The business structure of Triumph shall be corporation set up. The decision
Words: 764 - Pages: 4
Group 8 Microsoft’s Financial Reporting Strategy Microsoft’s software capitalization policy effects on its Balance Sheet and Income Statement for 1997-1999 Assumptions: - No potential tax effect - 60% of Microsoft’s R&D expenses were incurred after technological feasibility was established - 2-year average product life - The company begins amortizing software costs at the beginning of the following year R&D Capitalization Method: - Year n: 60% * R&D Book Value year n - Year n+1: ½ * 60% * R&D Book
Words: 710 - Pages: 3
Martin & Winter Co When the bank needs to decide to which of the companies he will give the loan, the most crucial concern is the company’s liquidity. As we learned, Liquidity is the ability of a firm to meet its near-term obligations as they come due. In this case, we have two companies, which one seems much larger than the other one. Basically, Winter Company has three times more assets than Martin Company. Is has much more cash, much more accounts receivable, and pretty much seems worth
Words: 472 - Pages: 2
are uncollectible. 9. Consider the following: Cash in Bank – checking account of $13,500, Cash on hand of $500, Post-dated checks received totaling $3,500, and Certificates of deposit totaling $124,000. How much should be reported as cash in the balance sheet? b. $ 14,000. 10. If a company purchases merchandise on terms of 1/10, n/30, the cash discount available is equivalent to what effective annual rate of interest (assuming a 360-day year)? C. 18% 11. AG Inc. made a $10,000 sale on account
Words: 531 - Pages: 3
MISSION The mission of Ch[pic]-karoke is to provide….. Quezon City-Regalado residents, students and with an ….. GOALS & OBJECTIVE ✓ To obtain necessary funding(Php.________ investment per partner) ✓ To operate a successful beverage store, specifically milk tea in Quezon City-Regalado, employing three to four employees in our first year. ✓ To be recognized and obtain a minimum of 200 regular customers in QC market for our first year of operation. ✓ To provide an
Words: 479 - Pages: 2
As is mentioned in the “The CPA Journal”, “many studies suggest fraud is more likely to occur when someone has an incentive (pressure) to commit fraud, weak controls or oversight provide an opportunity for the person to commit fraud, and the person can rationalize the fraudulent behavior (attitude).” This is known as the fraud triangle. There are two types of fraud: fraudulent financial reporting and misappropriation of assets. For the first one, this kind of frauds came from the top management
Words: 799 - Pages: 4
11 6.3 Promotional Strategy 12 7.0 Financials 13 7.1 Sales Forecast 13 7.2 Personnel Plan 14 7.3 Start-up Funding 14 7.4 Profit & Net Worth 16 7.5 Projected Profit and Loss 17 7.6 Projected Cash Flow 18 7.7 Projected Balance Sheet 19 1.0 Executive Summary ________ will be a full-service beauty salon. The business is being developed to consistently provide high customer satisfaction through unparalleled service, quality products, and furnishing a friendly atmosphere
Words: 3719 - Pages: 15
Acct # | Acct Title | W/P Ref | Last Years (Audited) | Current Years (Unaudited) | 10100 | Cash on Hand | | $1,987.28 | $2,275.23 | 10200 | Regular Checking Account | | $198,116.52 | $532,125.92 | 10300 | Payroll Checkiing Account | | | | 10400 | Savings Account | | $3,044,958.13 | $3,670,599.15 | 11000 | Accounts Receivable | | $16,410,902.71 | $49,780,259.98 | 11400 | Other Recievables | | | $1,000,000.00 | 11500 | Allowance for Doubt. Accts | | -$1,262,819.88 | -$1,254
Words: 379 - Pages: 2
Europe, Latin America and Asia. Its primary line of business ready-to-eat food products both for retail and wholesale purposes. b) Common financial statements include the balance sheet, income statement, the statement of cash flows, and the statement of shareholders equity. General Mills renames them as consolidated balance sheet, consolidated income statement, consolidated statement of cash flows, and the consolidated statement of shareholders equity. Since General Mills has subsidiaries or
Words: 753 - Pages: 4
