interior building configuration assets” related to the video monitor operations. According from ASC 310-10-20 Glossary‚ Asset group refer as “An asset group is the unit of accounting for a long-lived asset or assets to be held and used‚ which represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities.” Therefore‚ Home Computer can classify the disposal of the assets‚ the equipment and the “special
Premium Generally Accepted Accounting Principles Depreciation Asset
December 31‚ 2011 ASSETS LIABILITIES Current Assets Current Liabilities Cash $ 2‚100 Notes Payable $ 5‚000 Petty Cash 100 Accounts Payable 35‚900 Temporary Investments 10‚000 Wages Payable 8‚500 Accounts Receivable - net 40‚500 Interest Payable 2‚900 Inventory 31‚000 Taxes Payable 6‚100 Supplies 3‚800 Warranty Liability 1‚100 Prepaid Insurance 1‚500 Unearned Revenues 1‚500 Total Current Assets 89‚000 Total Current
Premium Balance sheet Generally Accepted Accounting Principles Asset
ALSO AVAILABLE IN EXCEL ON THE INSTRUCTOR’S WEBSITE WORKSHEET JOURNAL ENTRIES TO CONVERT TO THE ACCRUAL BASIS OF ACCOUNTING A. CAPITAL ASSETS (NET) 7‚752‚000 NET ASSETS BEGINNING OF YEAR 7‚752‚000 DEPRECIATION EXPENSE 315‚000 CAPITAL ASSETS (NET) 315‚000 CAPITAL ASSETS (NET) 616‚600 CAPITAL OUTLAY (EXPENDITURE) 616‚600 B. NO BEGINNING LONG TERM DEBT - -
Premium Generally Accepted Accounting Principles Asset Depreciation
Question 1 Suppose Nike‚ Inc. reported the following plant assets and intangible assets for the year ended May 31‚ 2014 (in millions): other plant assets $965.8; land $221.6; patents and trademarks (at cost) $515.1; machinery and equipment $2‚094.3; buildings $974; goodwill (at cost) $193.5; accumulated amortization $47.7; and accumulated depreciation $2‚298. Prepare a partial balance sheet for Nike for these items. (List Property‚ Plant and Equipment in order of Land‚ Buildings and Equipment
Premium Generally Accepted Accounting Principles Asset Balance sheet
Current Assets‚ Current Liabilities‚ and Total Assets for years 2005 and 2004. · Calculate the following for PepsiCo‚ Inc. and show your work: o The Current Ratio for 2005 o The Current Ratio for 2004 o Two measures of vertical analysis—compute the current assets divided by total assets for each year‚ and express your result as a percentage o Two measures of horizontal analysis—compute the total change in assets by percentage‚ by dividing current assets in 2005
Premium Balance sheet Asset Liability
a period of time‚ the balance sheet is a statement that presents an organized array of assets‚ liabilities‚ and shareholders’ equity at a point in time. It is a freeze frame or snapshot picture of financial position at the end of a particular day marking the end of an accounting period. Question 3-2 The balance sheet does not portray the market value of the entity for a number of reasons. Most assets are not reported at market value‚ but instead are measured according to historical cost
Premium Balance sheet Generally Accepted Accounting Principles Asset
the firm can take to maintain a short-term financial policy that is flexible with current assets are keeping large balances of cash and marketable securities‚ large investments in inventory‚ and granting liberal credit terms to clients which would result in a high level of accounts receivable. If the firm where to be interested in maintaining a financial policy that is restrictive with it current assets‚ it might choose to; keep less cash on hand‚ not make any large investments in marketable securities
Premium Balance sheet Investment Asset
credit to the rural and SSI sectors1. This mandate has been achieved admirably. Since the early 90’s the focus has shifted towards improving quality of assets and better risk management. The ‘directed’ lending approach has given way to more market driven practices. The Narasimhan Committee has recommended prudential norms on income recognition‚ asset classification and provisioning. In a change from the past‚ Income recognition is now not on an accrual basis but when it is actually received. Past problems
Premium Asset Balance sheet Investment
rely on their current assets to show value. Current assets are defined as assets that can or will be converted into cash quickly. The value of the asset’s will vary and may be used at any time as collateral for loans or other investment business development plans. Current assets will include‚ of course‚ cash and cash equivalents‚ which is the amount of money the company has in its bank accounts including savings bonds‚ certificates of deposit‚ and money market funds. Assets must always be calculated
Premium Generally Accepted Accounting Principles Balance sheet Asset
classified for a 6 month maturity bucket below: Assets Rate Sensitive Assets (RSAs) Fixed Rate Assets (FRAs) Nonearning Assets (NEAs) Total $100 $200 Liabilities Rate Sensitive Liabilities (RSLs) Fixed Rate Liabilities (FRLs) $ 50 $250 $ 40 Equity $ 40 $340 Total $340 1. Classify each asset on the balance sheet as either: RSA FRA NEA 2. Classify each liability/equity account: RSL FRL Equity 3. Group assets and liabilities into the following groups:
Premium Asset Balance sheet Investment