Accounting
Charles Brack 26 June 2010
ACC-101
Written Assignment I
1.2) Boeing Company is the largest manufacturer of commercial aircraft in the United States and is a major employer in Seattle, Washington. Explain why each of the following individuals or organizations would be interested in financial information about the company.
a. California Public Employees Retirement System. One of the world’s largest pension funds.
They would be interested in Boeing’s financials to see how much the company contributes to their employee’s 401K plans.
b. Chinese Airlines, a rapidly growing airline serving the Pacific Rim.
Seeing the amount of sales that Boeing has, shows the reliability in their product through increased sales numbers.
c. Henry James, a real estate investor considering building apartments in the Seattle area.
Increased sales would mean the hiring rate would rise to meet workflow demands. This would be valuable because employees would need to relocate and would be looking for housing.
d. Boeing’s management
Reviewing the company’s financials allows the management to see where their losing or gaining money. It also allows them to assess in what areas they could possibly make investments.
e. International Aerospace Machinists, a labor union representing many Boeing employees.
This organization would find interest in their financials to make sure that the compensation of the employees is fair. In most cases when a union is involved, there is a percentage of compensation that has been agreed upon.
1.7) Financial accounting (i) Management accounting (h) Financial reporting (g) Financial statements (f) General-purpose assumption (b) Integrity (c ) Internal control (e) Public accounting (d) Bookkeeping (a)
2.3) Amber Company’s assets total $150,000 and its liabilities total $85,000. What is the amount of Amber’s retained earnings if its capital stock amounts
ACC-101
Written Assignment I
1.2) Boeing Company is the largest manufacturer of commercial aircraft in the United States and is a major employer in Seattle, Washington. Explain why each of the following individuals or organizations would be interested in financial information about the company.
a. California Public Employees Retirement System. One of the world’s largest pension funds.
They would be interested in Boeing’s financials to see how much the company contributes to their employee’s 401K plans.
b. Chinese Airlines, a rapidly growing airline serving the Pacific Rim.
Seeing the amount of sales that Boeing has, shows the reliability in their product through increased sales numbers.
c. Henry James, a real estate investor considering building apartments in the Seattle area.
Increased sales would mean the hiring rate would rise to meet workflow demands. This would be valuable because employees would need to relocate and would be looking for housing.
d. Boeing’s management
Reviewing the company’s financials allows the management to see where their losing or gaining money. It also allows them to assess in what areas they could possibly make investments.
e. International Aerospace Machinists, a labor union representing many Boeing employees.
This organization would find interest in their financials to make sure that the compensation of the employees is fair. In most cases when a union is involved, there is a percentage of compensation that has been agreed upon.
1.7) Financial accounting (i) Management accounting (h) Financial reporting (g) Financial statements (f) General-purpose assumption (b) Integrity (c ) Internal control (e) Public accounting (d) Bookkeeping (a)
2.3) Amber Company’s assets total $150,000 and its liabilities total $85,000. What is the amount of Amber’s retained earnings if its capital stock amounts