and that the proportion of sales represented by operating expenses‚ current assets‚ net fixed assets‚ and current liabilities will be the same as for 2010. Thus‚ we can create Zapatera’s pro forma balance sheet for 2011 by using its 2010 values as references. When finding the 2011 values‚ we calculate ($15M) ∗ (appropriate %) for current assets‚ net fixed assets‚ and current liabilities (where the “appropriate %” values are 25%‚ 50%‚ and 25%‚ respectively). The percentages we use are the same proportions
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Additional Practice Problems for Midterm Exam Preparation of Multiple-Step Income Statement Zoomy Zombie Inc. manufactures a wide variety of children’s products including educational toys‚ safety products‚ and outdoor toys. Skellan Davis‚ the company’s controller‚ had to leave unexpectedly while preparing the 2011 financial statements. Prior to his departure‚ Skellan had calculated 2011 income from operations before taxes of $22‚850‚000 (total for all divisions). Additional events and transactions
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fresh start reporting because the estimated reorganization value of $2‚000‚000 is less than the postpetition liabilities and allowed claims. | Estimated reorganization value | | $2‚000‚000 | | Liabilities: | | | | Postpetition liabilities | $1‚200‚000 | | | Prepetition liabilities | 1‚500‚000 | | | Fully secured debt | 900‚000 | 3‚600‚000 | | Excess liabilities over reorganization value | | $1‚600‚000 | 2 Old stockholders must retain less than a 50% interest in the
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Solutions to Lecture Activities ACCT 1046 Introductory Accounting Semester 1‚ 2010 Lecture 1 Unit 1 – Business Decision Making and Accounting Lecture Activity 1 1. The accounting information system comprises four main procedures: analysis‚ recording‚ reporting and identification. The order in which they occur is: a) Reporting‚ analysis‚ recording‚ identification b) Identification‚ analysis‚ recording‚ reporting c) Analysis‚ identification‚ recording‚ reporting d) Identification‚ recording
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May 14‚ 2012 [ EXECUTIVE DIPLOMA] EXECUTIVE DIPLOMA IN BUSINESS MANAGEMENT Awarded by the Asia e University Assignment [Business Accounting] Submission due date : 23rd June 2012 by or before 5.30pm 1 May 14‚ 2012 [ EXECUTIVE DIPLOMA] Assignment Question Scenario You have been recruited to help your uncle’s family to set up and run a supermarket called ‘BeliMurah Mart’ in Petaling Jaya. In the past‚ they had set up and managed smaller scale businesses‚ but
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is an income statement? (0.5 points) Financial statement for results of a specific time 3. What is the balance sheet equation? (0.5 points) Assets= liabilities + owner’s equity 4. What is a financial ratio? (0.5 points) Comparing finance between two groups 5. What does the following equation represent: Total liabilities ÷ Total assets? (0.5 points) Debt ratio 6. What is cash basis accounting? (0.5 points) Method used to track income and expenses sorry i dont
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Hi Team C‚ you presented 2 Word files‚ including a certificate of originality‚ as well as a file containing a memo of audit conclusions for the audit of the fixed asset cycle‚ and a memo on prepaid assets and other asset conclusions‚ as well as leadsheets for fixed assets and prepaid assets. Your memo contained excellent conclusions‚ including inconsistencies in the useful life of real property‚ computer equipment‚ and production equipment. You noted inconsistencies in depreciation method for various
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between 2003 and 2004. Lucent Technologies had a decrease in their current liability. In 2003 their current liability was 25.6% and decreased to 24.3% during 2004. According to the debts that increased from 23% in 2003 to 26.4% a year later in the company’s total liability‚ the debts of Lucent Technologies would be considered long term. In 2003‚ Lucent Technologies had decreased in the representation of total liabilities and shareholders equity on the equity side for Lucent Technologies when compared
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Executive Summary Two Wheeled Oracle is a bicycle based courier service in Portland‚ Oregon‚ catering to law firms. The Oracle can transport documents as well as small parcels to clients‚ other law firms‚ as well as transport and file documents with the clerk of courts. Law firms will be the primary group of customers and the only one targeted‚ non law firm customers will be served as well‚ but will not be targeted. The Oracle will offer reliability and industry insight to law firms‚ enabling it
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1.0 EXECUTIVE SUMMARY INTRODUCTION BORDAGOL store is a start-up rice and corn grits wholesale and retail store that will be established in Public Market‚ Digos City‚ Davao del Sur. BURDAGOL expects to catch the interest of a regular loyal customer base with its broad variety of rice. It will provide a good variety of rice at an affordable price. BORDAGOL is the answer to the increasing demand of rice in Digos City due to its increasing population. Rice is part of the culture of the Filipinos
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