long-term debt treatment. If no entry is required‚ state “No entry required” and explain why. (2) Indicate the effects of each transaction on the accounting equation of the Capital Projects Fund and on the General Capital Assets and General Long-Term Liabilities accounts. If an element is not affected‚ put “NE” in the appropriate box. B. (1) Prepare the journal entries required in a Capital Projects Fund to record these transactions‚ assuming the bond anticipation notes qualify for long-term debt treatment
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company’s ability to meet its short-term obligations with its most liquid assets. When we focus on quick ratios of Clarkson‚ we also see declining trend in quick ratio‚ which shows that Clarkson is having harder and harder times to meet its current liabilities by using current assets. Overall‚ liquidity position of company seems to be weak. As for asset management ratios‚ first ratio to be discussed is inventory turnover ratio. Inventory turnover ratio measures how many times average inventory is "turned"
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have future benefit to the company. 2. Liabilities a. are future economic benefits. b. are debts and obligations. c. possess service potential. d. are things of value owned by a business. 3. Notes to the financial statements are optional. help clarify information presented in the financial statements. are generally brief and few in number. need not be read in detail if an unqualified opinion accompanies the financial statements. 4. The liability created by a business when it purchases
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Women ’s Boutique Shoe Store Business Plan Executive Summary One‚ Two‚ Step! will carry only top of the line quality in women ’s shoes and accessories. Our selection will range from the basics of comfortable flats and sandals to the trendy style of stiletto shoes and boots. We will be purchasing through sales representatives and manufacturers in a variety of sizes‚ colors and style to fit our customer base. The greatest percentage of merchandise will be in shoes‚ followed by accessories. One
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exchange rate provided 1 US$ = 7.8 HK$: 3.200 / 7.8 = 410.25 million US$ 2) Another method used to calculate the economic value of a company is the Asset-Based evaluation which consists into subtracting to the total asset of the company‚ its total liabilities: 2050 – 860 = 1190 million HK$. Converting in dollar and according to the exchange rate provided 1 US$ = 7.8 HK$: 1190 / 7.8 = 152.5 million US$ So the Net Asset value of Harbin Brewery is 1190 million HK$ or 152.5 million US$. 3) The third
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Case Study 1 Professor Blankenship Accounting 504 July 28‚ 2013 Salithia Smith Requirement 1- Prepare the Journal Entries in the General Journal Flower Landscaping Corporation General Journal Date Description Debit Credit |March 1 |Cash |72000 | | | |Common Stock
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VENUE: SEAT NUMBER: STUDENT NUMBER: STUDENT NAME: Family Name First Name FINAL EXAMINATION St Lucia Campus Semester Two 2011 ACCT7101 ACCOUNTING PERUSAL TIME WRITING TIME EXAMINER 10 mins. During perusal‚ write on the blank paper provided 3:00 Hours Mark Russell This examination paper has 18 pages (not including the title page) and is printed Double-Sided THIS EXAMINATION PAPER MUST NOT BE REMOVED FROM THE EXAMINATION ROOM Exam Type: Closed Book - Specified materials
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Sensitive Assets (RSAs) Fixed Rate Assets (FRAs) Nonearning Assets (NEAs) Total $100 $200 Liabilities Rate Sensitive Liabilities (RSLs) Fixed Rate Liabilities (FRLs) $ 50 $250 $ 40 Equity $ 40 $340 Total $340 1. Classify each asset on the balance sheet as either: RSA FRA NEA 2. Classify each liability/equity account: RSL FRL Equity 3. Group assets and liabilities into the following groups: RSAs financed by RSLs FRAs financed by FRLs NEA financed by Equity
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Student Name and ID (Print Legibly) ________________________________________________________________ True or False/Multiple Guess/Fill in the blank Identify the choice that best completes the statement or answers the question. Carefully and completely fill out this test with the answer that best fits the question. For each answer‚ clearly circle your choice from the options provided (a‚ b‚ c‚ d‚ etc.). Dont make me guess‚ I wont award credit if it isnt obvious. 1. What type of data is found in
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balance sheet‚ we can see that inventory decreased by $200‚000 but that accounts payable increased by $250‚000. Thus‚ retained earnings increased by $50‚000. On Jan. 15‚ Donahoo increased inventory by $200‚000 adding this value to short-term liabilities: Here‚ we see inventory decrease $400‚000 but other current assets increased $500‚000 (with $50‚000 going in to cash and $450‚000 into A/R). Rather than moving the $100‚000 to retained earnings‚ the company used $100‚000 in cash to pay a dividend
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