Stockholders’ equity is subdivided into two parts: common stock and retained earnings. The basic accounting equation is: Assets = Liabilities + Stockholders’ Equity (Wiley‚ Kimmel‚ Weygandt‚ & Kieso‚ 2011). A balance sheet is used to report the company’s assets‚ asset claims‚ and liabilities at a specific point in time. The basic accounting equation is what makes up the balance sheet. Assets are added together to come up with a total cost. Liabilities and stockholder’s equity is also
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Controls for Outflows Biniyam Beyene‚ Christie Ferrell‚ Gabriel Mendoza and Paula Strahl ACC/544 May 2‚ 2015 Professor Tracie Youngblood Controls for Outflows Purchasing‚ accounts payable‚ cash disbursements‚ finance‚ investment‚ and payroll are key components to a successful and efficient business. Internal controls are needed in these outflow process to prevent fraud and theft within the business. The follow proposal will list the types of controls that are needed and reason for the
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Name: Learning Team Course: ACC/280 Date: P4-2A The adjusted trial balance columns of the worksheet for Porter Company are as follows. (a) Complete the worksheet by extending the balances to the financial statement columns. PORTER COMPANY Work Sheet (Partial) For the Year Ended December 31‚ 2008 Adjusted Trial Balance Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit
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work of ACC 421 Week 3 Individual Assignments Solutions A comprises: EXERCISE 4-6 (30–40 minutes) EXERCISE 4-6 (Continued) EXERCISE 4-16 (30–35 minutes) EXERCISE 4-16 (Continued) EXERCISE 18-4 (20–25 minutes) EXERCISE 18-4 (Continued) EXERCISE 18-5 (10–15 minutes) Business - Accounting ACC 421 All Week 3 Assignments – Individual Assignment Includes: ACC 421 Week 3 Learning Team Assignment with 3 part excel spreadsheet included ACC 421 Week
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SUMMARY OF THE INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF NIGERIAN ENAMELWARE PLC. NAME OF THE COMPANY: Nigerian Enamelware Plc. NAME OF THE AUDITORS: Akintola Williams Deloitte‚ Charted Accountant‚ Lagos Nigeria. SOURCE OF INFORMATION: Annual Report & Accounts 2012. SCOPE: The financial statement audited by the auditors include; the balance sheet‚ profit and loss account‚ statement of cash flow‚ value added statement‚ financial summary‚ significant accounting policies and other
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individuals who contributed in the preparation and completion of this work. Above all‚ to our Almighty God for all His blessings and guidance He showered upon me. I would like to express my appreciation to those who helped me accomplish my practicum report. I want to thank Mr. Noel B. Puno and Mr. Warley L. Concepcion for providing me access to the training equipment‚ facilities and materials‚ and for assigning specific jobs related to my field of specialization. I also acknowledge all the staff of
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Assignment: Critiquing Philosophical Approaches to Ethical Decision Making When it comes to making ethical decisions there are many different approaches to reach a decision. There is an ethical decision making (EDM) framework which incorporates traditional requirements for profitability and legality‚ as well as requirements shown to be philosophically important to stakeholders. The EDM framework asses the ethicality of a decision or action by examining the consequences or well-offness created in
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They are income statements‚ retained earnings statements‚ balance sheets‚ and statement of cash flow. Each financial statement has a unique use and purpose in business‚ which will be explained throughout the following assignment. “Income statements report the success or failure of the company’s operations for a period of time” (Kimmel‚ Weygandt‚ & Kieso‚ 2009). Income statement lists the company’s revenues followed by its expenses‚ which results in net income (or net loss) by deducting expenses from
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analysis of the Eastman Kodak Company’s consolidated statement of financial position‚ otherwise known as the income statement‚ revealed several changes over the three year span as well as several areas of concern. The information contained in the report is stated in millions‚ with the exception of the share data. Upon review of the company’s assets‚ it is apparent that there have been significant changes between 2003 and 2004. Although there was an $80 million dollar increase in inventories and
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Small Business Idea Starting a business can be one of the most challenging endeavors to engage. Indentifying a need or want in a given industry‚ completing the pre-business research‚ demographics and analyses‚ then determining financial feasibility is only the tip of the iceberg. Choosing the right business structure will contribute to its long term success. Therefore‚ when selecting the appropriate business type‚ one must carefully consider the following: taxes‚ liability‚ administrative burdens
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