Summary Purposes of the Balance Sheet 1. A balance sheet‚ or statement of financial position‚ summarizes the financial position of a company at a particular date by reporting the economic resources (assets)‚ the economic obligations (liabilities)‚ and equity. It reports a company’s resource structure (major classes and amounts of assets) and its financial structure (major classes and amounts of liabilities and equity). It is a detailed explanation of the basic accounting equation: Assets =
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Everyday Use Summary Alice Walker’s modern classic "Everyday Use" tells the story of a mother and her two daughters’ conflicting ideas about their identities and ancestry. The mother narrates the story of the day one daughter‚ Dee‚ visits from college and clashes with the other daughter‚ Maggie‚ over the possession of some heirloom quilts. Why isn’t Everyday Use by Alice Walker told by Dee? Answers Dee does not tell the story of Everyday Use because she (and Maggie) is used by
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How have illusions helped you in your everyday life? Inthe play The Tempest by William Shakespeare there are many actsthat concern illusion. Not only does illusion help propel‚ and ever in some cases make possible litterature‚ but it also helpsusin our everyday lives. Illusion helps us in many areas of our lives. In our childhood‚ illusion is necessary for many things‚ whether it be to help us enjoy Christmas or simplytoexpandand nurture our creativity. During childhood teach many things
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Zeiber’s 2014 income statement and balance sheets. Use the following assumptions: (1) Sales grow by 6%. (2) The ratios of expenses to sales‚ depreciation to fixed assets‚ cash to sales‚ accounts receivable to sales‚ and inventories to sales will be the same in 2014 as in 2013. (3) Zeiber will not issue any new stock or new long-term bonds. (4) The interest rate is 11% for long-term debt and the interest expense on long-term debt is based on the average balance during the year . (5) No interest is
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The product life cycle (PLC) describes the stages a new product goes through from beginning to end. PLC includes four major stages: market introduction‚ market growth‚ market maturity and sales decline. I decided to take an industry of cameras production as an example. I will show an application of PLC to the period‚ when cameras producers introduced such new product as digital cameras. In the market introduction stage‚ when this type of cameras were introduced to a market for the very first
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A balance sheet is a statement businesses produce that outlines their assets and liabilities. It is a snapshot of their fixed assets‚ current assets‚ current liabilities and long term liabilities for a specific moment in time such as the end of a financial year. Using these figures‚ a business is able to calculate their net working capital; how much the business is worth‚ whether it can afford to expand and if it is a good venture for investors. There are different groups of people who are interested
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6. A proforma cost sheet of a company provides the following particulars : Elements of Cost Material 40% Direct Labour 20% Overheads 20% The following further particulars are available: (a). It is proposed to maintain a level of activity of 2‚00‚000 units. (b).Selling price is Rs.12 per unit (c) Raw materials are expected to remain in stores for an average period of one month (d) Materials will be in process‚ on averages half a month. (e) Finished goods are required to be in stock for
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Everyday Use- Character Analysis "Everyday Use" by Alice Walker‚ is a story of a black family composed of a mother and her two daughters: Maggie and Dee. Walker does an excellent job illustrating her characters. There are all types of characters in this short story from round to static. Dee is a flat character‚ yet Walker uses Dee’s character to warn people of what might happen if they do not live properly. Walker describes Dee’s character as arrogant and selfish‚ and through Dee’s character
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Psychological Approach to “Everyday Use” The psychological approach was developed by Sigmund Freud. He is the father of psychoanalysis. And his principal ideas are very essential to an understanding of literature and criticism. Freud compared the mind to an iceberg‚ of which only a small portion is visible; the rest is below the waves of the sea. When it comes to the elements of the psyche‚ Freud hypothesized that we have several psychic structures that make up the personality and clash with
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financial liabilities (Exposure draft). FASB‚ Norwalk‚ CT. Finney‚ H. A. 1935. Principles of Accounting‚ Volume II. New York‚ NY: PrenticeHall. Friedman‚ M. and A. J. Schwartz. 1963. A Monetary History of the United States‚ 18671960. Hayek‚ F. A. 1945. The use of knowledge in society. American Economic Review 35. 519-530. Holthausen‚ R.W. and R.L Watts. 2001. The relevance of value-relevance literature for financial accounting standard setting. Journal of Accounting & Economics 31 (September): 3-75. Hunt
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