statements reported the following (in millions). Cash December 31‚ 2011 Cash from operating activities Cash from investing activities Cash from financing activities $ 2‚772 773 (902) 896 What did Goodyear report for Cash on its December 31‚ 2010 balance sheet? A) $2‚772 million B) $3‚539 million C) $767 million D) $2‚005 million E) None of the above Answer: D Rationale: Cash‚ beginning of year + Cash from operating activities + Cash from investing activities + Cash from financing activities = Cash at
Premium Balance sheet Generally Accepted Accounting Principles Income statement
B. | Capital stock‚ additional paid-in capital‚ retained earnings | | C. | Capital stock‚ appropriated retained earnings‚ unappropriated retained earnings | | D. | Preferred stock‚ common stock‚ treasury stock | Which of the following balance sheet classifications would normally require the greatest amount of supplementary disclosure? | A. | Plant assets | | B. | Current assets | | C. |
Premium Balance sheet Generally Accepted Accounting Principles
found on the balance sheet (www.investorwords.com/273/asset.html). In accounting‚ assets are divided into different categories such as current assets‚ long-term assets‚ prepaid and deferred assets‚ and intangible assets (www.investorwords.com/273/asset.html). What is a balance sheet? It is a financial statement that shows the company’s assets‚ liabilities‚ and the owner’s equity. The asset equals liabilities plus shareholders’ equity is the formula for accounting equation. The balance sheet was naming
Premium Balance sheet Generally Accepted Accounting Principles Asset
#157146 sample solutions faq Maynard Company Income Statement Preparation Please help me prepare an income statement and answer the following questions for this situation: Diane Maynard was grateful for the balance sheets that her friend prepared. ( I attached the balance sheet I did) In going over the numbers‚ she remarked‚ "it’s sort of surprising that cash increased by $31677‚ but net income was only $19635. Why was that? Her friend replied‚ "A partial answer to that question is to look
Premium Generally Accepted Accounting Principles Balance sheet Asset
ounting cycle Accounting Cycle The accounting cycle comprises of the cycle of accounting process. It begins with analysis of the transactions and ends with carrying forward the balances in balance sheet to the next accounting period. It produces numerous records‚ entries‚ documents‚ reports and statements. The most important output of accounting cycle is an enterprise’s financial statements. The following are the steps that summarises an accounting cycle. The accountant performs the steps
Premium Double-entry bookkeeping system Bookkeeping Income statement
Kyle Zerbe When‚ where‚ why‚ and how the Business pro forma is used will be discussed in this paper. The purpose of a business pro forma and components (income statement‚ balance sheet‚ statement of cash-flows) will also be included. The roll and purpose of an executive summary will be discussed as well. The word pro forma is a Latin term meaning “as a matter of form”. Looking at its meaning in business‚ financial statements are a main focus. Business pro formas are prepared in advance of
Premium Balance sheet Generally Accepted Accounting Principles Liability
resources and claims to resources. Because accountings have to report these organizations‚ the reports are done in a formal way called financial statements. The financial statements that are the main focused in this paper is the income statement‚ the balance sheet and the statement of cash flows. An income statement is a financial statement for companies that
Premium Income statement Generally Accepted Accounting Principles Financial statements
profitable or not. A company that is failing or not growing can often come from poor financial planning and analysis. The difference between failure and success come from analyzing financial information. Analyzing financial information such as balance sheet‚ income statement and cash flow statement companies can predict and control their future. Financial statements are the primary documents used in reporting financial information to banks‚ investors‚ suppliers and others. Along with financial information
Premium Balance sheet Generally Accepted Accounting Principles Income statement
Merrill Lynch Financial Statements Guide Balance sheet – what company owns and owes at report date; assets = liabilities/equity Income statement – shows whether a company’s operation over a period of time (i.e. a year) was profitable or lost $$ Statement of changes in shareholders’ equity – reconciles activity in shareholders’ equity section of balance sheet from period to period; typically changes are due to company profits/losses‚ dividends‚ and/or stock issuance Cash flow statement – cash
Premium Balance sheet Generally Accepted Accounting Principles Stock
every company and the directors and managers thereof shall cause to be kept such accounting and other records as will sufficiently explain the transactions and financial position of the company and enable true and fair profit and loss accounts and balance sheets and any documents required to be attached thereto to be prepared from time to time‚ and shall cause those records to be kept in such manner as to enable them to be conveniently and properly audited. Thus‚ Beta Sdn Bhd‚ a private company‚ shall
Premium Balance sheet Asset Liability