NAME Week 2‚ Exercise 1 November 16‚ 2014 XACC/290 Week 2‚ Exercise 1 (a) 1. Stockholders invested $20‚000 cash in the business. 2. Purchased equipment for $5‚000‚ paying $1‚000 in cash and the balance of $4‚000 on account. 3. Paid $750 in cash for supplies. 4. Earned $9‚500 in revenue‚ receiving $4‚100 in cash and $5‚400 on A/R. 5. Paid $1‚500 in cash on accounts Payable. 6. Paid $2‚000 in cash dividends to stockholders. 7. Paid $800 in cash as expenses (rent). 8. Earned $450 in cash from
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FENGYUAN LIU 15929173 TAO WANG 16348171 XU HAN 15930331 1. What is going right with this business? Based on analysis in EXHIBIT1&2‚ the revenue of Horniman Horticulture grows steady and strong. Revenue growth ratio rose from2.9% in 2002 to 15.5% in 2005‚ which was much higher than the benchmark. Gross profit in 2005 was $545‚400 which was much higher than $470‚500 in 2004. In 2005‚ the return on assets was 5.1%‚ which was nearly twice higher than benchmark. The return on capital
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Computers perform many jobs that previously were performed by people. Will computer based transactions and expanded e-commerce eventually replace person to person contact? From a customer’s point of view‚ is this better? Why or why not? Eventually no‚ because no computer can replace any humans in any transaction (manage input of data‚ collecting related and added information on customers‚ asking follow-up questions‚ and etc). Computers can only make transactions more convenient to users and help
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TUTORIAL WORKING CAPITAL MANGAMENT CHAPTER 14 & 15 1. Explain what is meant by the statement “The use long term debt as opposed to current liabilities subjects to the firm to a lower risk of illiquidity.” 2. Why does an increase in the ratio of current to total assets decrease both profits and risk as measured by net working capital? How do changes in the ratio of current liabilities to total assets affect profitability and risk? 3. What is the difference between the firm’s operating cycle and
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Practice 2-1 (Solution) Complete the matrix by entering either debit or credit in each cell: Items | Increases | Decreases | Assets | Debit | Credit | Liabilities | Credit | Debit | Owner’s Equity | Credit | Debit | Revenues | Credit | Debit | Expenses | Debit | Credit | Practice 2-2 (Solution) State whether the following have debit balances or credit balances: a.) Accounts Payable- Credit balance b.) Salary Expense- Debit balance c.) Notes Receivable- Debit balance d.) Mr
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INTRODUCTION: Trial balance is a statement which shows debit balances and credit balances of all accounts in the ledger. Since‚ every debit should have a corresponding credit as per the rules of double entry system‚ the total of the debit balances and credit balances should tally (agree). In case‚ there is a difference‚ one has to check the correctness of the balances brought forward from the respective accounts. Trial balance can be prepared in any date provided accounts are balanced. DEFINITION
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Riley Supply* Jim Riley believed that the North Atlanta suburbs of Cherokee County and Forsyth County were about to take off in the mid-1990s so he‚ along with his next door neighbor‚ started a plumbing and heating supply business to benefit from the expected growth. Fortunately‚ the targeted counties of Cherokee and Forsyth did experience significant growth over the next decade as the following population table indicates. 1995 112‚971 61‚483 2006 195‚327 150‚968 Cherokee Forsyth Yet‚ despite
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Jamel McBean Consulting LLC. Client: ElectroMyCycle Date: 6/9/15 Project: Net 240 Design Scenario Chapter 5 1. Explain why you think your design meets the needs of ElectroMyCycle. After reviewing this further‚ I have decided to do away with the DMZ sand use port forwarding to the DNS server. This method gives users a more secure way to access the web server. The network design that ElectroMyCycle had previously which was done by Network Rouges was not secure enough and did not account for scalability
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Cash – Cash includes: currency and coins‚ checks‚ money orders‚ bank drafts and demand deposit accounts. Held for Trading Securities – Temporary investments of excess cash which are primarily held for short term gain. Loans and Receivables – include trade receivables and non trade receivables. Trade Receivables are claims against others which arise in the ordinary course of doing business. Examples are: Trade accounts receivable- these are claims against customers arising from the provision
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LITERATURE REVIEW In intention to discover the relationship between efficient working capital management and firm’s profitability(Shin & Soenen‚ 1998) used net-trade cycle (NTC) as a measure of working capital management. NTC is basically equal to the CCC whereby all three components are expressed as a percentage of sales. The reason by using NTC because it can be an easy device to estimate for additional financing needs with regard to working capital expressed as a function of the projected sales
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