and stable ratios.1 The management case reveals slight decreases in Current and Quick ratios as well as slight increases in Total Liability to Total Assets and Total Liability to Equity do to the increase in Bank Loans Payable from the forecasted loan for the warehouse.2 Accounts
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Company A Worksheet below. Fill out the appropriate account name and transaction description for each chart. For the Debit and Credit columns‚ determine which data entry is to be Debit or Credit and fill out appropriately. Complete this assignment by the end of Unit Nine‚ 11:55 p.m. PST. a. Company A counts its supplies at the end of the month and finds that it only has $250 worth of supplies remaining on October 31‚ 2010. Date Account name & Transaction
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Company Recommendation We recommend that the bank extend the line of credit loan of $75‚000 at 8.5% to CCWC and institute the other aspects of Mr. Robb’s suggestions. A mandatory guarantee by the principals‚ annual account cleanup and using CCWC’s account receivable as collateral would all reduce the risk to the bank. Even if CCWC goes bankrupt‚ it does not have any other loans on its books and a current ratio at about 1.2. (Exhibit 1) Since only a small percentage of its inventory
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(na=a-l) | 3. Transaction‚ * t-account * | Any activity that causes an increase in assets‚ anything credit or debit that is recorded | 4. General ledger * | * Record of all financial transactions | 5. Debit | * All entries on left side of a t account; increase in assets or decrease in liabilities | 6. Credit | * All entries on right side of a t account; increase in assets | 7. Account balance | * The total of a t account once all the credits and debits have
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Internal Control and Accounting Systems (AQ2013) For use in the AAT Accounting Qualification Chic Paints Ltd Assessment book Time allowed: Four months AAT Level 4 Diploma in Accounting QCF qual ref SCQF qual ref QCF unit ref SCQF unit ref Internal Control and Accounting Systems 600/6892/9 R324 04 F/504/3353 UD65 04 Notice to candidates 1) All candidates must adhere to the terms and conditions specified for this assessment. 2) Your report must be typed‚ completed and submitted for formal assessment
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REQUIRED: Draft the appropriate audit opinion given the following scenarios. Each situation is independent of the other situations. 1. Proli Footwear’s management refuses to accrue the accounts receivable loss related to the bankruptcy of Moccasins For All. 2. The bank is expected to withdraw its financing because: a. The Company has projections that indicate continued decrease in earnings and reduced revenues; OR b. The Company has violated certain loan covenants that the bank will not waive
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Managing Growth Simulation The purpose of this paper is to study Sunflower Nutraceuticals (SNC) and how the decision the company makes can help their working capital and increase growth. The paper will also take a look at each phase from SNC’s simulation and how it affects their working capital. Background Sunflower Nutraceuticals (SNC) “started as an internet-based‚ direct-to-consumer distributor and retailer of dietary supplements‚ including vitamins‚ minerals‚ and herbs for women‚ with
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acquired by the president of the company and four senior officers. Most of the acquisition cost was financed by bank loans. Since the acquisition‚ Harrison had difficulties to pay NCB for the goods and the account receivable reached to unacceptable level. In September 2005 the Harrison account was 156 days old and amounted to $ 4.4 million. In addition‚ NCB’s credit management tried to receive financial information from Harrison’s management without great success. After 14 months of avoiding the
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Internal Control and Accounting Systems (AQ2013) For use in the AAT Accounting Qualification Chic Paints Ltd Assessment book Time allowed: Four months Note: Your report must be written/typed‚ completed and submitted for formal assessment within four months. You will have four more opportunities to submit further supporting evidence at the discretion of your assessor. Please discuss this with your assessor. AAT Level 4 Diploma in Accounting QCF qual ref SCQF qual ref QCF unit ref
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Internal Control and Risk Evaluation Internal controls are the key to running a successful business. Kudler Fine Foods‚ after reviewing flowcharts created by Accounting Team A‚ is requesting information regarding controls for system improvements. Presented here is an analysis of their current accounting information system‚ risks and controls associated with this system and an evaluation of applying internal controls to help mitigate risks and losses. Risk Analysis Assessing risk is a difficult
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