500 102‚850 Incr $9‚650 subtract (-) Prepaid Expenses 28‚400 26‚000 Incr $2‚400 subtract (-) Investments 138‚000 114‚000 Incr $24‚000 Plant assets 270‚000 242‚500 Incr $27‚500 Less: Accumulated depreciation (50‚000) (52‚000) Decr $2‚000 Total $ 682‚500 $ 514‚750 Liabilities and Stockholders’ Equity: Accounts Payable $ 112‚000 $ 67‚300 Incr $44‚700 add (+) Accrued expenses payable 16‚500 17‚000 Decr $500 subtract
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Fee revenue * Interest revenue * Dividend revenue * Rent revenue Expenses – Outflows or
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Case Report for Kota Fibres‚ Ltd. Group 7 BA 141 (WFY) 8/11/2010 Table of Contents Point of View .............................................................................................................................................. 1 Case Context ............................................................................................................................................... 1 Problem Definition ...................................................................
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1. On average‚ how many rooms must be rented each night in season for the hotel to breakeven? We calculate the blended rate for each of the wings using the single room and double room rates and occupancy ratios. The daily expense during the season is - Hence to break even we must have occupancy to cover $1‚153.42 in costs on a daily basis. Assuming equal occupancy (x) in East Wing and West Wing we get the equation as (24*30 + 19*50)*x = 1153.42. We get occupancy as 69.1 percent. Hence
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2102 Practice Exam 2 Spring 2007 Name: _________________________________ 1. Sally Inc. has shelving that cost $70‚000 a few years ago. The current book value (carrying value) is $15‚000. They are thinking of selling the shelving in order to renovate the store. If they sell‚ they expect to receive $14‚000 for the shelving. Which of these is TRUE about the shelving? a. The accumulated depreciation at the point of sale will be $41‚000. b. The gain on sale of shelving will be $1‚000. c. The
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was overstated. b. the total expenses were understated. c. the net income was overstated. d. the owner’s equity was overstated. e. all of the above are true. 3) On the basis of the following data‚ what is the proper adjusting entry for June 30‚ the end of the fiscal year? • Supplies account balance before adjustment‚ $1 900 • Supplies physical inventory on June 30‚ $750 a. Debit Supplies $750; credit Supplies Expense $750. b. Debit Supplies Expense $750; credit Supplies $750.
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Depreciation of production machines and buildings were Depreciation of administrative buildings were Depreciation of distribution cars were 20 000 10 000 5 000 Costs of marketing were 80 000 Interest costs related to loans received were 5 000 Tax expenses were 3 000 10 printing machines were produced in December. Six of those machines were sold (sales price of one printing machine was 60 000)‚ one of the printing machines was produced for own purposes – printing of marketing materials. This printing
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J4 DEBIT CREDIT 200 Account: Common Stock DATE EXPLANATION 31-May-08 Balance REF. √ DEBIT CREDIT Account: Service Revenue DATE EXPLANATION 31-May-08 balance Adjusting REF. √ J4 DEBIT CREDIT Supplies Expense DATE
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Business Plan Introduction With the improvement of people’s living standard‚ more and more people want a pet to accompany with them outside their studying and working time. Therefore the number of people who have a dog is increased‚ and the needs of dog are raised significantly. The economy about pets is paid attention by people. Not only concerned about what they eat‚ but also about where they live and what kinds of cloth they wear. It becomes a potential marketing in our daily life. There
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lower) than loans permit; and Provides protections against the risk of equipment obsolescence‚ since the lessee can get rid of the equipment at the end of the lease.” There may also tax benefits in leasing. Lease payments are deductible as operating expenses if the arrangement is a true lease. Ownership‚ however‚ usually has greater tax advantages through depreciation. Naturally‚ you need to have enough income and resulting tax liability to take advantage of those two benefits. Cons to leasing Pros
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