ACC/291 March 25‚2012 Liquidity Ratios Current Ratio: Current Assets/Current Liabilities 2005 $14‚555‚092/ $6‚974‚752= 2.09:1 2004 $14‚643‚456/ $6‚029‚696=2.43:1 Acid Test Ratio: Cash+ Short-Term Investments + Receivables (Net)/ Current Liabilities 2005 $305‚563 + $283‚583 +$6‚133‚663/ $6‚974‚752= .96:1 2004 $357‚216 + $133‚504 + $5‚775‚104/ $6‚029‚696=1.04:1 Receivables Turnover: Net Credit Sales/ Average Net Receivables 2005 $50‚823‚685/ ($6‚133‚663 + 5‚775‚104/2) $50‚823‚685/
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Week Three Weekly Reflection ACC/291 PRINCIPLES OF ACCOUNTING II Weekly Reflection Week Three There are many topics that are covered in week three and with the Christmas and New Year’s break the team would find it beneficial to cover all the topics. These topics include: Chapter 11 1. Identify the major characteristics of a corporation. 2. Record the issuance of common stock. 3. Explain the accounting for treasury stock. 4. Differentiate preferred stock from common stock. 5. Prepare
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In this file ACC 291 Week 2 Individual WileyPLUS Assignment you can find right answers on the following questions: 1. Exercise E8-3. The ledger of Hixson Company at the end of the current year shows Accounts Receivable $120‚000‚ Sales $840‚000‚ and Sales Returns and Allowances $30‚000. 2. Exercise BE9-13. Correct. Information related to plant assets‚ natural resources‚ and intangibles at the end of 2011 for Spain Company is as follows: buildings $1‚100‚000; accumulated depreciation-buildings
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Throughout this week I have learned a lot more about liabilities and how to identify the major types of current liabilities. I have learned previously about currently liability and this week really gave me a fresh reminder on the two key features: A company will the debt within one year or the operating cycle (for which ever is the longest)‚ also the company is responsible expects to pay the debt from existing current assets or though the creation of other current liabilities (as mentioned in Chapter
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ACC 291 Week 4 Discussion Questions and Responses www.paperscholar.com DIRECT LINK TO THIS STUDY GUIDE: http://www.paperscholar.com/acc-291-week-4-discussion-questions-and-responses/ Instantly Download! Get Better Grades in Less Time! 100% Satisfaction Guarantee DESCRIPTION FOR THIS STUDY GUIDE: Week 4: DQ 1: What are the differences between the direct and indirect presentation of cash flows? What are the advantages and disadvantages of the direct and indirect methods and which does
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CLICK TO DOWNLOAD ACC 201 Principles of Financial Accounting Week 1 Chapter 1 and 2 Practice Exercises: 1-2‚ 1-4‚ 1-9‚ 1-12‚ 1-18‚ 2-1‚ 2-3‚ 2-19‚ 2-22‚ 2-25. Memo to Blair Complete the writing assignment‚ ATC 1-4 from Chapter 1 and submit to your instructor. Week 2 Discussion 1: Fraud Discuss in general the ethical issues when employees are tempted to defraud their employer or when companies defraud the public. What sort of situations can lead to this behavior? What are the costs of
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E11-15 | | | | |After | |After | | | | | |Stock | |Stock | | | |Before | |Dividend | |Split | |
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Week Two Summary ACC/291 Abstract During the first two weeks‚ Learning Team “A” studied several objectives. During Week One‚ we learned how to prepare journal entries to account for transactions related to accounts receivable and bad debt using both percentage of sales and the percentage of receivables methods‚ ways to distinguish between tangible and intangible assets‚ the means to identify the entries associated with acquisition‚ disposal‚ and sales of plant assets‚ and closed out the week
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Individual Text Assignment Chapters 5‚ 6‚ and 7 Karen L. Spencer ACC/491 Contemporary Auditing I December 3‚ 2012 Kimberly Jordan‚ MBA Individual Text Assignment Chapters 5‚ 6‚ and 7 Chapter 5 Comprehensive Question 5-30 (Assertions) In planning the audit of a client’s financial statements‚ an auditor identified the following issues that need attention. Required Identify the assertion for items 1 through 11. 1. The allowance for doubtful accounts is fairly presented in amount
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XACC/291 – Week 4 Assignment Complete Exercises E10-6‚ E10-8‚ & E10-18. And Problems 10-3A & 10-6A. E10-6 Payroll Tax Expense $352.16 FICA Taxes Payable 198.40 Federal Unemployment Taxes Payable 19.84 State Unemployment Taxes Payable 133.92 (To Record Payable Taxes for the week) E10-8 1. True 2. True 3. False 4. True 5. False 6. False 7. True 8. True 9
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