ACCT112 Midterm Assignment – Week 9 Due at the end of week 9. There are 70 marks. This assignment is worth 20 % of the total grade. True or False: (15 Marks) 1. In spite of its weaknesses‚ the cost principle is most often used because it is the most reliable basis of valuation. TRUE 2. The going concern assumption assumes the company will continue to operate for at least two years. TRUE 3. The economic entity assumption states that economic events can be identified with a
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would increase the value of the business. Next we had to but the land for $150‚000. This was a debit and credit line item under assets because we used cash and credit $100‚000 under liability because we now owe a debt. After fully balancing the equation‚ we had $200‚ 00 in assets (what we invested) and $100‚000 in liabilities and shareholder’s equity. Chapter 1 Accounting in Action: E 1-5 pg. 34 Instructions: For each of the three situations‚ say if the accounting method used is correct or incorrect
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Debt/Equity Ratio What Does Debt/Equity Ratio Mean? A measure of a company’s financial leverage calculated by dividing its total liabilities by its stockholders’ equity; it indicates what proportion of equity and debt the company is using to finance its assets. http://financial-dictionary.thefreedictionary.com/debt%2Fequity+ratio ’Debt/Equity Ratio’ A high debt/equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings
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average percentages of sales to obtain forecast of income items‚ current assets‚ current liabilities‚ and net fixed assets for the period of 2008-2010‚ and then determine Huiyuan’s free cash flows (and cash flow components) for each year. Ignore issues regarding external fund needed. (b) Complete the forecast table‚ using historical average ratios wherever applicable. Use overdrafts (a line of current liabilities) to indicate any external capital needed. Huiyuan will keep its cash level at HK$110
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April 21‚ 2012 To MS. Nusrat Khan Lecturer‚ Department of Finance‚ Faculty of Business Studies‚ University of Dhaka. Subject: Submission of Term Paper on “Partnership Accounting”. Dear Madam‚ It is an honor for us to submit the `Project Report’ on “Partnership Accounting” which is prepared as a partial requirement of the course named “Accounting Principles (F- 103)” of BBA program under Department of Finance of the Faculty of Business Studies‚ University of Dhaka. The main objective of study
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ACCOUNTANCY STUDENTS love. “Life is like a balance sheet. One wrong entry could change everything. We make decisions that give us either an Asset or a Liability. Yet in the end it is up to us on how to make adjustments to balance it.” I’ll INVEST ur name serve as the CAPITAL of my life and ASSET of my heart‚ you will never be a LIABILITY coz even if ur MARKET VALUE will be the most expensive‚ I will sacrifice my INCOME‚
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does not earn interest. Determine Huiyuan’s free cash flows (and cash flow components) for each year. (b) Complete the forecast table under the following conditions: (i) Sales will grow at 24% per year. (ii) The sales percentage for other current liabilities is expected to decline to 41% in future years. (iii) Because of high uncertainty in the timing and the cost of raising equity
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Executive Summary The goal of this marketing plan is to outline the strategies‚ tactics‚ and programs that will make the sales goals outlined for this Buon Apetito business plan a reality in the month of August‚ 2013. Buon Apetito is a 60 seat Speciality restaurant with a 20 seat lounge. We focus on our New Italian menu with a touch of an Asian influence. The location of this new restaurant would be in the heart of the city‚ rapidly expanding‚ which is the hot spot for the niche youngsters‚ lot
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Memorandum To: Sharon Sonneborn From: Date: 9/9/2012 Re: Potential Acquisition of Garmin Ltd. And Subsidiaries Garmin Ltd is under consideration for acquisition by Mega Industries. As a result‚ an assessment of Microline’s financial condition and assessment is necessary to evaluate the company as a suitable candidate. Our team has prepared a memo stating Microline’s earning power potential ‚ solvency position‚ and to which extent the companies financial statements reflect the true
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Goods/Services Provided- Needs or Wants? Enbridge Inc. is an energy company that TRANSPORTS‚ GENERATES‚ and DISTRUBUTES goods like oil; its biggest and main product is natural gas. Enbridge Inc. takes the raw material which is the natural gas from the earth generates it‚ and then they transport the gas to other countries and provinces‚ or distribute the gas to buildings and homes. The homes need the gas for things like the oven and other energy consuming appliances which we use on a daily basis
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