000 116‚000 Timing differences: Excess of CCA over amortization (16‚000 ) Excess rent collected over rent earned 24‚000 Taxable income $124‚000 Current income taxes - 30% $37‚200 (b) Deductible Balance (Taxable) Future Tax Current Sheet Temporary Tax Asset Long- Account Differences X Rate (Liability) Term PP & E ($16‚000)* 30% ($4‚800) LT Unearned Rent revenue 24‚000 30% 7‚200 C Future income tax asset‚ Dec. 31‚ 2009 2‚400
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implications for change in capital contributions; Describe the need for revaluation of assets and reassessment of liabilities; Carry out the treatment for reserves/accumulated profits or losses among the partners; Develop the skill of preparing the balance sheet of the reconstituted firm. l l l l l Change in the profit sharing ratio of the existing partners : For example‚ Ram‚ Mohan and Sohan are partners in the firm sharing profits in the ratio of 3:2:1. With effect from April 1‚ 2001
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ANALYSIS AND INTERPRETATION OF FINANCIAL STATEMENTS: CASE STUDIES THESIS SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF Bachelor of Technology in Mining Engineering By SUDIP DAS Roll: 10605038 DEPARTMENT OF MINING ENGINEERING NATIONAL INSTITUTE OF TECHNOLOGY‚ ROURKELA 2010 ANALYSIS AND INTERPRETATION OF FINANCIAL STATEMENTS: CASE STUDIES THESIS SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF Bachelor of Technology in Mining Engineering
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--------------- 1. Rs.50‚000 2. Rs.100‚000 3. Rs.150‚000 4. Rs.200‚000 5. The financial statement that reports assets‚ liabilities and owners’ equity is the -------- 1. income statement 2. statement of owner’s equity 3. balance sheet 4. statement of cash flows 6. Events are recorded by a business if assets‚ liabilities‚ or owner’s equity are affected. Select the event(s) that should be recorded in the business records from those listed below. 1. Customer purchases
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the General Fund of the reporting entity? Does the report state the basis of accounting used for the General Fund? What types of assets are included on the govern- mental funds balance sheet? Do current and noncurrent assets appear on the balance sheet? Do current and noncurrent liabilities appear on the balance sheet? Is this reporting consistent with the basis of accounting being followed? c. Other Governmental Fund Types. List the names of governmental funds other than the General Fund that
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loss accounts and a balance sheet. A trading‚ profit and loss account shows the firm’s financial performance over a given time period‚ usually one year. The trading account of the Trading Profit and Loss Account will show the businesses gross profit before taking into account other expenses such as overheads. The profit and loss account shows them their final net profit of that year. http://www.bbc.co.uk/schools/gcsebitesize/business/finance/accountsrev1.shtml Balance Sheet: This is a financial
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Teacher Resource Bank GCE Accounting Scheme of Work (Revised August 2011) Copyright © 2011 AQA and its licensors. All rights reserved. The Assessment and Qualifications Alliance (AQA) is a company limited by guarantee registered in England and Wales (company number 3644723) and a registered charity (registered charity number 1073334). Registered address: AQA‚ Devas Street‚ Manchester M15 6EX. Mr Andrew Hall‚ Chief Executive. Teacher Resource Bank / GCE Accounting / Scheme of Work /
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the world’s information and make it universally accessible and useful”. After closely researching and analyzing certain financial statements‚ we would recommend anyone to invest in Google Incorporated. Google’s income statement‚ cash flow‚ and balance sheet all reveal that Google is one of the top rising corporations that has an abyss of accomplishments in the technology industry and is only expected to continue expanding. Some of Google’s accomplishments include Google Maps‚ YouTube‚ Gmail‚ Android
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regarding that issuer‚ the issuer shall make public disclosure of that information . . . simultaneously‚ in the case of an intentional disclosure; and . . . promptly‚ in the case of a non-intentional disclosure.” Topic: Components of the Balance Sheet LO: 2 3. A list of assets‚ liabilities and equity can
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and accounts receivable. This report is a good indicator of the operational management of the company and the impact of their accounts receivable collection activities. A company can appear financially sound based on the income statement and balance sheets when it is not. A cash flow statement adds context to the reports and reflects the actual cash position. The financial statement of a company provides a great opportunity to learn about the company’s finances. Take the time to compare the three
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