Regulation of Companies & Company Operations Legal nature of company Separate legal identity‚ distinct from owners Companies act through ‘agents’. eg. shareholders elect board of directors to act on their behalf Public Company (Ltd.) Limited liability of owners • Raises funds from public Types of companies Private Company (Pty. Ltd.) • • • • • • • • • Regulation of companies Corporations Law: Companies must keep proper accounting records; prepare yearly & half-yearly FS; ensure FS comply with
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The purpose of comparing the rate of General Motors and the Industry is to rate their performance in solvency‚ profitability and efficiency. General Motors ratio improved in profitability from 2011 to 2012 and 2012 to 2013 the assets and liabilities ratio was 1.31 that means in profit earned relatively to sales and total assets. In the Industry that means GM did pretty well in assets and sales compared to the Industry. In solvency the ratio was 13.19‚ it has more than 202‚000 employees supporting
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for rent. Expense Debit B. Amounts to be paid in 10 days to suppliers. Liability Credit C. A new fax machine purchased for office use. Asset Debit D. Land held as an investment. Asset Debit E. Amounts due from customers. Asset Debit F. Daily sales of merchandise sold. Revenue Credit G. Promotional costs to publicize a concert. Expense Debit H. A long-term loan owed to Citizens Bank. Liability Credit I. The albums‚ tapes‚ and CDs held for sale to customers. Asset
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Executive Summary University of Phoenix Executive Summary Dating back to 1929‚ television has been viewed all over the world by millions of families. The impact technology has on television is phenomenal. Viewers have watched programs as silhouettes‚ outlines‚ with no sound‚ or black and white. With time‚ technology brought direct broadcast satellite to television. New Corporations Fox Entertainment Group‚ launched DirecTV in 1994. This company provided
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I have seen many changes growing up in Prince Georges County (PG)‚ a minority-dominated county in Maryland. The government has spent a massive amount of money to revitalize the county. This includes the 250.5 million transformation of Jack Kent Cooke Stadium (now FedEx Field) and the massive 2 billion National Harbor project in Oxon Hill‚ MD. There are rumors the county plans to rename the crime-infested city of Landover‚ where I currently live‚ to Hyattsville‚ a neighboring city‚ predicting that
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problems Ch 9: 3‚ 8‚ 9‚ 11 3. Fill in the blanks (_______) with the correct entries. Assets Liabilities and Stockholder’s Equity Current assets Current liabilities Cash 250‚000 Accounts payable Accounts receivable Notes payable to banks (1‚340‚000 less) Accrued wages _130‚000 Allowance for doubtful accounts Taxes owed 100‚000 Of $20‚000) 1‚320‚000 Total current liabilities 1‚250‚000 Inventory 1‚410‚000 Long-term debt ________ Total current assets 2‚980‚000 Stockholders’
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Decisions EXERCISES E1–2 Req. 1 READ MORE STORE Balance Sheet As at December 31‚ 2008 |ASSETS | |LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | |Liabilities | | |Cash |$ 48‚900 |Accounts payable
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Total Assets $ 93‚150.00 Liabilities and Owners Equity Liabilities Accounts Payable $ 40‚040.00 Owner’s Equity J. Bennett Capital 53‚110.00 Total Liabilities and owner’s equity $ 93‚150.00 P1-9A: Taking It Further It is important to prepare the Income Statement first as the profit is used when calculating the Owner’s Equity and then the capital from the owners equity is used to calculate the liabilities for the Balance sheet. P2-3A
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1. Functions of departments in Thanh Dung Company * BOD: The main function of the board is to manage the business in the best interest‚ primarily of the shareholders. In other words it is their duty to add value to the business which‚ by definition‚ requires the director to ensure that the Thanh Dung Company continues to improve its profitability and the price or value of its shares. They will set up targets‚ policies and strategies to create the premise for the operation of Thanh Dung Company
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Any violations of bond restrictions or covenants must be disclosed. Bonds are reported at face value less unamortized discount or plus unamortized premium. The current portion (due within a year) is reported as a current liability‚ the remainder is reported as a long-term liability. Notes payable are sums of money borrowed by a company that are evidenced by a promissory note. Notes payable have a specified maturity date and generally have a specified interest rate. Notes payable that do not have a
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