P80‚000 Feb. 28 Cash dividend 2‚000 Mar. 31 Bought shares 9‚000 Apr. 1 Sale of rights 6‚000 June 30 Sale of shares 10‚000 1. A cash dividend of P0.50 per share were received on Feb. 28. The adjusting entry (assuming the use of the cost method) is: a. Stock Investment 2‚000 Dividend income 2‚000 b. Retained earnings 2‚000 Dividend income 2‚000 c. Dividend Income 2‚000 Stock investment 2‚000 d. Cash 2‚000 Dividend
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University of Dubuque School of Business BAC 241: Principles of Financial Accounting Homework Chapter 4: Completing Accounting Cycle Name: Due Thursday‚ October 04‚ 2012 in class 1. During 2013‚ Rumbo Corporation had cash and credit sales of $21‚760 and $15‚225‚ respectively. The company also collected accounts receivable of $9‚765 and incurred operating expenses of $27‚700‚ 80 percent of which were paid during the year. In addition‚ Rumbo paid $4‚500 for an 18-month advertising
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operator in the US. Over the three-year time period of 2002-2004‚ this company has expanded its membership base while increasing its number of warehouses both in the U.S. and internationally. In 2004 alone‚ net sales increased 13.1% over the prior year‚ driven by an increase in comparable sales of 10% and the opening of twenty new warehouses; net income increased for fiscal 2004 by 22.4%‚ or $1.85 per diluted share; and for the first time‚ the Board of Directors declared a quarterly cash dividend‚ with
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estimate might be the magnitude of its capital needs over the next 3 to 5 years? What sources other than the public equity market could be tapped to satisfy those needs? 3. Why in general do companies go public? What are the advantages and disadvantages of public ownership? 4. The case points out that the IPO market is sometimes characterized as a “hot issue”’ market and that many IPOs are viewed in retrospect as having been “underpriced”. What might explain these phenomena? Should the Netscape board be
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UNIVERSITY OF THE EAST College of Business Administration-Manila UESONs’ PRE-MIDTERM EXAM -FUNDAMENTALS OF ACCOUNTING 1&2- NAME: ___________________________ SECTION: ___________ CELL LEADER: ______________________ WS: ___ CG: ___ SS: ___ DIRECTION: Write your FINAL ANSWERS on the ANSWER SHEET provided. USE CAPITAL LETTERS. NO ERASURES! NO CHEATING! 1. | 26. | 51. | 76. | 2. | 27. | 52. | 77. | 3. | 28. | 53. | 78. | 4. | 29. | 54. | 79. | 5. | 30. | 55. |
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computer hardware company‚ is publicly held with market capitalization amounting to over $450 million. Carlton’s system designs enable their mini-computer systems to measure up to the power of mainframes with small cost outlays. The accounting practices at Carlton normally permit revenue recognition after the shipment of the computer systems. Peale‚ Gower and Quill‚ Carlton’s auditors‚ are worried about the accounting practices regarding revenue recognition of certain transactions during the last
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Cash account and accrual accounting are two separate methods that are similar in many aspects except when it comes to debits and credits. Cash accounting is also known to be called cash basis accounting. This approach allows for the recognition of income at the time it is received. That means that invoiced income is not counted as an asset until payment for the invoice has been received and vice versa for debits and expenses. Accrual accounting does not recognize any income until it is actually earned
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PLANNING HORIZON a 1. The long-range time period‚ usually the next two to five years‚ over which the financial planning process focuses is known as the: a. planning horizon. b. planning strategy. c. planning agenda. d. short-run. e. current financing period. AGGREGATION b 2. The process by which smaller investment proposals of each of a firm’s operational units are added up and treated as one big project is known as: a. separation. b. aggregation. c. conglomeration. d. appropriation
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simply repeating previous posts and agreeing. Discuss the pros and cons of accural accounting versus cash accounting methods. All discussion forums must require at a minimum: 1-Research (at least 2 citations) 2-Critical Thinking 3-Opportunity for dissent. Accrual Accounting versus Cash Accounting Ok‚ if we are to attain our career goals we need to understand these two methods of accounting. This topic is very important in almost any field that one chooses to fashion their
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The Carlton Polish Company Duisenberg School of Finance 04-03-2013 1. Comparable Economic Laboratory (EL) is like Carlton a leading manufacturer in chemical supplies. However this company is much bigger‚ internationally operating and directly supplying to end-users‚ mainly institutions. The product range being offered is most in line with the products offered by Carlton Polish. Another comparison is the compounded growth rate of sales: EL has a growth rate of 13% and Carlton of 14.59%
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