000 Earnings per share $ 1.25 Statement of Retained Earnings For the Year Ended December 31‚ 2008 Retained earnings‚ balance‚ January 1‚ 2008 $500‚000 Add: Earnings available to common stockholders‚ 2008 150‚000 Deduct: Cash dividends declared and paid in 2008 50‚000 Retained earnings‚ balance‚ December 31‚ 2008 $600‚000 Comparative Balance Sheets For 2007 and 2008 Year-End Year-End Assets 2007 2008 Current assets: Cash $ 70‚000 $100‚000 Accounts receivable
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payroll‚ paid on Fridays‚ totals $6‚600. Employees work a 5-day week. Prepare Dresser ’s adjusting entry on Wednesday‚ December 31‚ and the journal entry to record the $6‚600 cash payment on Friday‚ January 2. 4. Side Kicks has year-end account balances of Sales $890‚660; Interest Revenue $16‚870; Cost of Goods Sold $557‚320; Operating Expenses $207‚440; Income Tax Expense $36‚370; and Dividends $20‚744. Prepare the year-end closing entries. 5. Financial information exhibits the characteristic
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Objective of financial statements[edit] Financial statements are a structured representation of the financial position and financial performance of an entity. The objective of financial statements is to provide information about the financial position‚ financial performance and cash flows of an entity that is useful to a wide range of users in making economic decisions. Financial statements also show the results of the management’s stewardship of the resources entrusted to it.[1] To meet this objective
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| |Comparative Income Statement between 2 years | |2009 and 2008
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Independent Non-Executive Director Y.BHG. TAN SRI DATO’ AHMAD BIN MOHD DON COMPARATIVE ANALYSIS FOR HING YIAP GROUP FOR THE YEAR ENDED 30 JUNE 2011 BALANCE SHEET | |Changes |% | |Assets
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Financial Management at Bajaj Auto Bajaj Auto Limited is one of India ’s largest two-wheeler manufacturers. As the dominant player until the early 1990s‚ Bajaj ’s market share declined from 49.3% in 1994‚ to 38.9% in 1999 with the entry of major competitors like Hero Honda. Bajaj has initiated several measures to regain its market share and strengthen its competitive position. The case discusses the financial strategy pursued by Bajaj. Financial Management at Bajaj Auto We want to get back
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ACCOUNTING NOTES FOR MY PERSONAL USE 4/12/2013 ELISHA VERIWA | Introduction to Accounting Accountancy is the process of communicating financial information about a business entity to users (stakeholders) such as shareholders and managers (Elliot‚ Barry & Elliot‚ Jamie: Financial accounting and reporting). Accounting has been defined as: * the art of recording‚ classifying‚ and summarizing in a significant manner and in terms of money‚ transactions and events which are‚ in part at least
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Introduction to Accounting MBA 643: INTRODUCTION TO ENTREPRENEURSHIP Introduction to Accounting LECTURE SERIES WEEK 7‚ LECTURE 8 1 Introduction to Accounting Learning Objectives This Chapter would enable you to understand: Definitions of Accounting Meaning of Accounting Attributes of Accounting Accounting Process Branches of Accounting Book Keeping‚ Accounting and Accountancy Difference between Book Keeping and Accounting 2 Introduction to Accounting Learning Objectives
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financial statements to match the current accounting change they have chosen. As noted in the book‚ “financial statements issued in previous years are revised to reflect the impact of the change whenever there statements are presented again for comparative purposes” (McGraw-Hill Companies‚
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period of time. 2- Balance Sheet (Statement of Financial Position ) It’s a Status report summarizing company’s Assets‚ liabilities and Equities which it include the statement of Retained Earnings at a specific point in time. The Balance Sheet Formula is : Assets = Liabilities + Equities 3- Cash Flows Statement ( The statement of changes in financial position ) The statement of cash flow is independent accounting method and its complement and integrate the information on the balance sheet and income statement
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