Litwin‚ Inc. Comparative Balance Sheets December 31‚ 2008 2007 Assets: Current Assets: Cash $ 690‚000 $ 540‚000 Accounts Receivable (net) 1‚560‚000 1‚080‚000 Merchandise Inventory 1‚950‚000 1‚260‚000 Prepaid Expenses 351‚000 315‚000 Total Current Assets 4‚551‚000 3‚195‚000 Long-Term Investments 225‚000 Plant Assets: Property‚ Plant & Equipment 2‚190‚000 1‚440‚000 Accumulated Depreciation (450‚000) (270‚000) Total Plant Assets 1‚740‚000 1‚170‚000 Total Assets
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Chapter 1 Accounting and the business environment Learning Objectives 1. Use accounting vocabulary 2. Apply accounting concepts and principles 3. Use the accounting equation 4. Analyse business transactions 5. Prepare the financial statements 6. Evaluate business performance Horngren‚ Best‚ Fraser‚ Willett: Accounting 6e © 2010 Pearson Australia Objective 1 Use accounting vocabulary. Horngren‚ Best‚ Fraser‚ Willett: Accounting 6e © 2010 Pearson Australia Accounting
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12 – 1 CASH FLOW CATEGORIES Maya Corporation reports the following items in its statement of cash flows prepared using the direct method. Indicate whether each item is disclosed in the operating‚ investing‚ or financing activities section of the statement. Operating Investing Financing Cash paid for salaries and wages X Cash paid to purchase property‚ plant‚ and equipment X Cash received from issuing stock to owners X Cash paid for income taxes X Cash paid to
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well. Finally TABCORP have stated that their final dividend of 11c per share will be put into effect and that their targeted dividend payout ratio is 80% of the net profit excluding the write off from the Victorian gaming goodwill. 3. Income Statement of TABCORP (a) The Profit margin ratio basically used to calculate the net profit as a percentage of the revenue. It also indicates the profitability of a company and is mostly used for internal use only. The formula for
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following are all components of the statement of cash flows? Answer Selected Answer: Cash flow from operating activities‚ cash flow from investing activities‚ and cash flow from financing activities Correct Answer: Cash flow from operating activities‚ cash flow from investing activities‚ and cash flow from financing activities Response Feedback: correct Difficulty level: Medium Ross - Chapter 02 #50 Topic: STATEMENT OF CASH FLOWS Type: CONCEPTS Question 3
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merchants | | 2. | | On what day of the year does its fiscal year end?DEC 31 | | 3. | | For how many years does it present complete a. | | Balance sheets? 2 YEARS | b. | | Income statements? 3 years | c. | | Cash flow statements? 3 years | | | 4. | | Are its financial statements audited by independent CPAs? If so‚ by whom? Pricewaterhouse coopers | | 5. | | Did its total assets increase or decrease over last year? By what percentage? [Percentage change is calculated
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America‚ Inc. Statement of Cash Flows Year Ended December 31‚ 2014 Cash flows from operating activities: Net income $105 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation $46 Amortization of patents 11 Increase in accounts receivables ($72-$61) (11) Increase in inventories ($194-$181) (13) Increase in accounts payable ($63-$56) 7 Decrease in accrued liabilities ($17-$12) (5) 35 Net cash provided by operating
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Assignment 5-1 Requirements 1 and 2 a) Investing activities - cash paid for capital asset (18‚000) b) Financing activities - borrowed money 46‚000 c) None; non-cash transaction d) Financing activities - repaid note payable (200‚000) Cash flow for interest ($7‚800) should be represented by interest expense and is separately disclosed as a cash outflow as part of operating activties‚ unless the company has decided it is a financing flow. e) Operating activities - decrease in wages payable (8
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years the shares outstanding at year-end were slightly higher than the average shares outstanding during the year. As of February 3‚ 2003 Krispy Kreme did not hold any treasury stock. Krispy Kreme also has no preferred stock or outstanding. No cash dividends were paid to common stockholder’s for fiscal years 2003 and 2002. This indicates that Krispy Kreme’s stock is a “Growth Stock” and explains why it has not paid any dividends. Krispy Kremes basic earnings per common share figure have
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preparation of the Statement of Cash Flows determines if a business is gaining or merely just earning liabilities. Cash flows from operating activities incorporate the income created from the business and costs acquired amid the entire operation. While cash flows from investing activities deals with all the investments that would profit years of operation. And the financing activities include all sources of funds to be able to secure all the investments. After preparing the Statement of Cash Flows‚ Marie suggested
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