has a very detailed and organized balance sheet and income statement in which all of the company ’s information is listed in the proper order. The balance sheet can be viewed annually or quarterly and all amounts are in US dollars by millions except for per share amounts. The balance sheet first begins to lists the company ’s assets. The assets section is broken down by current assets‚ cash‚ net receivables‚ inventories‚ and other current assets. The balance sheet then lists in order the total current
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Chapter 7 # 30 a. Give three examples of relatively reliable documentation and three examples of less reliable documentation. What characteristics distinguish the two? Examples of relatively reliable documentation are: vendor statements‚ bank statements. And signed lease agreements. Examples of relatively unreliable documentation are: copies of customer invoices‚ internal memoranda and other communications‚ and a listing of fixed asset additions. The difference between the two is whether they
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There are different ways in how two income statements are prepared. For example: the income statement (also known as P&L) of a merchandising company consists of Revenue‚ Expenses (related to the sales volume through the Cost of Goods Sold (COGS) and General & Administrative Expense (G&SA)‚ which all result in Net Income. The income statement of a Service company consists of Service Revenue minus any Expenses related to that service‚ which results in Net Income. Another way to look at it is that
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Decoding Apple ’s Balance Sheet In March of 2009‚ Apple had its best March quarter revenue and earnings in Apple history (Apple). In order to see how this occurred‚ it is important to look over the financial statements of Apple. There is a lot of information available to investors who are interested in investing in a company. By looking specifically at the balance sheet of Apple I am going to determine if investing in Apple is a good idea or a bad idea. Some things I am going to consider are
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Balance Sheet Items presented on the face of the statement of financial position represents an entity’s assets‚ liabilities‚ and equity (net assets) at a given point in time‚ a specific date. These items should be sufficiently detailed to enable identification of material components under US GAAP. In contrast the Financial Instruments and Exchange Act requires Japanese GAAP to present items in a more detailed manner compared to IFRS and US GAAP. Thus Bridgestone‚ following JP GAAP have more accounts
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within Citigroup’s balance sheet and income statement? Balance Sheet Asset Cash and due from banks Deposits with banks Federal funds sold and securities borrowed or purchased under agreements to resell Trading account assets Investments Total loans‚ net Liability Total deposits Short-term borrowings Long-term debt Equity Common stock Additional paid-in capital Retained earnings Income Statement Income Total revenue Total provisions Total operating expenses Net income These are
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Inflow $450 500 800 4500 355 280 1‚200 222 Cash Outflow $ 1‚000 ________________________________________________________________________ HAK 1/4 BFN1014 Financial Management I (Semester 53) a. b. c. d. Determine Jane’s total cash inflows and outflows. Determine the net cash flow for the month of August. If there is a shortage‚ what are a few options open to Jane? If there is a surplus‚ what should be a prudent strategy for her to follow? Chapter 3: Financial Statements and Ratios Analysis
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explanation of Balance Sheet‚ which can be characterized as"A proclamation of an organization’s benefits‚ liabilities and stockholder value at a given stretch of time‚ it the asset report is a record of what the organization own and what is owe. the benefit in one side and liabilities and value on the other side. Asset = Liabilities + Equity.
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Final Exam 1. During a recession‚ unemployment ________ while inflation A. falls; falls. B. rises; falls. C. rises; rises. D. falls; rises. 2. Student A says that customer satisfaction is a mark of a world-class business. Student B says that proactive ethics is a mark of a world-class business. Which student is correct? A. Both B. Student A only C. Neither D. Student B only 3. Which of the following represents the basic accounting equation? A. Owners ’ Equity − Liabilities = Assets B. Liabilities
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ACC501: COMPUTERISED ACCOUNTING TUTORIAL 4 DISCUSSION QUESTIONS i. ‘Why are adjusting entries necessary? Surely they cause too much delay in preparing financial statements‚ and the financial effect of any entries made is immaterial in the long run.’ Respond to this criticism. ii. The owner of a business reviews the income statement prepared by you and asks‚ “Why do you report a profit of only $30 000 when cash collections of $100 000 were received and cash payments for the period totalled only
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