1. Explain the various financial statements like balance sheet‚ income statement‚ and statement of cash flow and owner’s equity with its advantages and disadvantages of preparing this statement with an example. INTRODUCTION Financial statements provide information of value to company officers and various external parties‚ such as investors and lenders of funds. Publicly owned companies are required to publish general-purpose financial statements that include a balance sheet‚ income statement
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everyone use credit cards or bankcards. Using the statistical data provide by textbook: Lind‚ Marchal‚ and Wathen‚ (2008). Statistical Techniques in Business & Econimics‚ 13th edition. New York‚ NY: McGraw-Hill. An ANOVA test of debit bankcards is going to be done on whether people that have debit cards use the ATM as much as people that don’t have debit cards. An ANOVA test comparing the use of ATM’s by people with bank debit cards versus people without bank debit cards. People with debit cards
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dividends account is closed to the Income Summary account in order to properly determine net income (or loss) for the period. 10. After closing entries have been journalized and posted‚ all temporary accounts in the ledger should have zero balances. 11. Closing revenue and expense accounts to the Income Summary account is an optional bookkeeping procedure. 12. Closing the dividends account to Retained Earnings is not necessary if net income is greater than dividends during
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Reporting Foundation (FRF) C. Malaysian Institute of Accountants (MIA) D. Malaysian Institute of Certified Public Accountants (MICPA) 4. __________________ requires detailed company’s financial information for operating alternatives‚ projection of income of a new range of products‚ and forecasts of cash required for planning purposes. A. An inland revenue officer B. A labor union leader C. A tax agent D. A company’s manager 5. If the liabilities of a business decreased by RM3‚000 during a period
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96 Balance Sheet 2004 2003 Edwards‚ Inc. has prepared the following comparative balance sheets Cash $198‚000 $102‚000 for 2003 and 2004: Receivables $106‚000 $78‚000 2004 2003 Inventory $100‚000 $120‚000 Prepaid expenses $12‚000 $18‚000 Cash $ 198‚000 $102‚000 Plant assets $840‚000 $700‚000 Receivables 106‚000 78‚000 Accumulated depreciation $(300‚000) $(250‚000) Inventory 100‚000 120‚000 Patent $102‚000 $116‚000 Prepaid expenses 12‚000 18‚000
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Don’t Let Credit Cards Rule Your Life Did you know that the average credit-card holder in this country has ten cards‚ and the average family owes over $7‚500? That’s a record. And did you know that one dollar of every three in consumer debt is in credit cards? The fact is‚ credit card debt is rising faster than Americans’ income‚ and more folks are falling behind in their payments. So today I’m going to look at: why credit cards are a problem‚ and what you can do
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Equity and Balance Sheet Leverage 1. Compare the stockholders’ equity section of the balance sheet with the statement of stockholders’ equity. Describe in general terms how they relate. The Balance Sheet equity is a snapshot of the balances at book value of the funds contributed by the owners to finance operations‚ whereas the statement of stockholders’ equity shows a summary of the transactions which took place during a financial period‚ ie shows the movement. The closing balances in the statement
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stated in CERTIFICATE OF INSURANCE 1 year from the date of transaction / date of debit of premium. As stated in CERTIFICATE OF INSURANCE Bank Branch: As stated in CERTIFICATE OF INSURANCE SBI General Office: Registered Office: 101-201-301. Natraj‚ Junction of Western Express Highway & Andheri Kurla Road‚ Andheri (East)‚ Mumbai 400069. Sum Insured: Savings Bank /Individual Current A/C No: Transaction Date / Date of Debit of premium : Period of Insurance: Nominee (Name & Relationship): Additional
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Accounting Standard (AS) 5 Net Profit or Loss for the Period‚ Prior Period Items and Changes in Accounting Policies (This Accounting Standard includes paragraphs set in bold italic type and plain type‚ which have equal authority. Paragraphs in bold italic type indicate the main principles. This Accounting Standard should he read in the context of its objective and the General Instructions contained in part A of the Annexure to the Notification.) Objective The objective of this Standard is
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Common-size and trend analysis of the BS In our analysis of Swisscom’s Balance Sheet‚ we first decided to have a global view and then to go into details in order to conduct a good analysis. When we first look at the BS‚ we notice that the company is in a very positive situation from a financial viewpoint. Indeed‚ some of its assets increased between 2011 and 2013‚ while some of its liabilities decreased during this period. When we conduct this type of analysis‚ it is necessary to take into account
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