organization forms accounts for the greatest number of firms? A) Limited Partnership B) "S" Corporation C) "C" Corporation D) Sole Proprietorship Section: 1.1 The Four Types of Firms 2) The person charged with running the corporation by instituting the rules and policies set by the board of directors is called A) the Company President. B) the Chief Operating Officer. C) the Chief Executive Officer. D) the Chief Financial Officer. Section: 1.2 Ownership Versus Control of Corporations
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What are the four most important financial statements? Briefly describe each Much success in today’s business world is tied in with numbers in the form of accounting and financial statements. Being able to understand and properly read these statements is a critical component in truly knowing a business and properly assessing its overall financial performance. Financial reporting is the issuance of written documents in the form of the financial statements by the companies to the shareholders
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and Balance Sheet….9 5. Comments on the Performance of the Business…….10 6. Explaining the Limitation of Comparison…………...….12 7. References………………………………………………..……………..13 (A) Compute the following amounts: (I) Average Stock: Average stock = opening stock + closing stock / 2 = $22‚000 + $14‚000 /2 = $36‚000/2 = $18‚000. Explanation: Here‚ in the top of the example‚ we are given the opening stock of the company is $22‚000. Also saying that the opening stock of the company is
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Abstract GAAP requires company to disclose accounting policy in their financial reports. These policies provide relevant information to decision makers on choices taken by executives. Financial statements are the final product of accounting process. Income statement provides data for investment and other decisions. The net income is essentially the common income statement form‚ consisting of classifications such as income from continuing operations‚ discontinued operations‚ extraordinary items
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vHow are the hospital’s revenues and expenses grouped for planning and control? Patton-Fuller has two revenue categories; net patient revenue and other revenue. Patton-Fuller expense categories are; salaries and benefits‚ supplies‚ physician and professional fees‚ utilities‚ other‚ depreciation and amortization‚ Interest‚ and provision for doubtful accounts. The hospital’s revenue it broken up into two categories‚ the first being net patient revenue which consist of gross revenue generated
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1. Initial cash flow at t=0: Purchase: -$700‚000 Shipping and installation: -$100‚000 Depreciable basis = $800‚000 Old machine after taxes = $120‚000 - ($120‚000-$80‚000)(.40) = $104‚000 Initial Cash flow = -$800‚000 + $104‚000 = -$696‚000 Depreciation: Year 1: $800‚000 * .3333 = $266‚640 Year 2: $800‚000 * .4445 = $355‚600 Year 3: $800‚000 * .1481 = $118‚480 Year 4: $800‚000 * .0741 = $59‚280 Yearly revenue change: Decrease operating expenses of $90‚000 Incremental net cash flow
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Question 1 1. The following is Addison Corporation’s contribution format income statement for last month: Sales $1‚000‚000 Less: Variable Expenses $ 700‚000 Contribution Margin $ 300‚000 Less: Fixed Expenses $ 180‚000 Operating Income $ 120‚000 The company has no beginning or ending inventories. A total of 20‚000 units were produced and sold last month. What is the company’s margin of safety in dollars? $400 000 10
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96 Balance Sheet 2004 2003 Edwards‚ Inc. has prepared the following comparative balance sheets Cash $198‚000 $102‚000 for 2003 and 2004: Receivables $106‚000 $78‚000 2004 2003 Inventory $100‚000 $120‚000 Prepaid expenses $12‚000 $18‚000 Cash $ 198‚000 $102‚000 Plant assets $840‚000 $700‚000 Receivables 106‚000 78‚000 Accumulated depreciation $(300‚000) $(250‚000) Inventory 100‚000 120‚000 Patent $102‚000 $116‚000 Prepaid expenses 12‚000 18‚000
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Off-balance Sheet Financing Vehicles – Restructuring Problems When something collapses‚ there are always some things to blame on; and for the financial crisis erupted August 2007‚ people blamed it on off-balance sheet financing vehicles. Special purpose entities (SPEs)‚ structured investment vehicles (SIVs)‚ or variable interest entities (VIE) are different terms used for “off-balance sheet financing” practices that banks had used to hide their debts until the recent market meltdown. This paper
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Common-size and trend analysis of the BS In our analysis of Swisscom’s Balance Sheet‚ we first decided to have a global view and then to go into details in order to conduct a good analysis. When we first look at the BS‚ we notice that the company is in a very positive situation from a financial viewpoint. Indeed‚ some of its assets increased between 2011 and 2013‚ while some of its liabilities decreased during this period. When we conduct this type of analysis‚ it is necessary to take into account
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