bank reconciliation‚ Apex Company provided the ff. information Balance per bank statement 1‚805‚000 Deposit in transit 325‚000 Return of customer’s check for 60‚000 Insufficient fund Outstanding checks 275‚000 Bank service change for August 10‚000 On Aug 31‚ 2011‚ what is the adjusted cash in bank? a. 1‚ 855‚ 000 b. 1‚ 795‚ 000 c. 1‚ 785‚ 000 d. 1‚ 755‚ 000 3. Credit balances in Accounts Receivable shall be classified as a. Current Liabilities
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Team C Discussion Questions Week 1 Rodney Brooks‚ Sekou Clements Jamie Deering‚ Jeffrey Harold‚ Eric Hughes‚ Kyle Leibe FIN 370 August 12‚ 2012 Prof. Thomas Prince Team C Discussion Questions What is the capital market? How is the primary market different from the secondary market? In you opinion‚ are these markets efficient? Why? The capital market is the part of the financial system concerned with raising capital by dealing in stocks‚ bonds‚ and other long term investments. A primary
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under Course Home Use the financial statements from the most recent year to fill in the table below. You may find some formulae calling for an average‚ e.g.‚ average inventory‚ average receivables. Because we only have the Balance sheet for one year‚ you can only use the one year number not an average. Assume interest expense is $0.00 Be sure to cite your references Green boxes to be filled in by instructor Ratio Formula (express the ratio in
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associated Excel Sheet. Kerr had been given the task of valuing Dragon’s equity for a possible acquisition. He was told by his boss to assume a valuation of ten times sustainable earnings‚ plus the value of cash and marketable investments on the balance sheet. The Excel Sheet completes this calculation for you‚ based on inputs that are provided in the top portion of the “Assumptions and Statements” tab. In completing this task‚ you’ll need to address some accounting issues highlighted in the case
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ANSWER SHEET STUDENT’S SURNAME........................................... OTHER NAMES.......………......................................... STUDENT NUMBER....……….................................. TUTORIAL DAY & TIME........………................... TUTOR’S FULL NAME......................................... Test 1 – Version 2 Session 2‚ 2012 Course Code: ACCG 224 Course Name: INTERMEDIATE FINANCIAL ACCOUNTING Time allowed: 55 minutes plus 5 minutes reading time Total No. of questions:
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Abstract This report will analyse Greggs’ 2010 annual report on the purpose of evaluating the company’s current operating condition and providing suggestions of improvement to the company’s management team. According to ASB’S Statement of Principles for Financial Reporting‚ the selected information will be provided to the following users: shareholders‚ loan creditor group‚ analyst-adviser group‚ employees‚ customers‚ suppliers‚ government and the public. Then‚ based on the key ratio calculations
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Suppose the Robinson Company had a cost of goods sold of $1‚000‚000 in 2010 and $1‚200‚000 in 2011. a. Calculate the inventory turnover for each year. Comment on your findings b. What would have been the amount of inventories in 2011 if the 2010 turnover ratio had been maintained? a. inventory turnover for 2010 =COGS/Inventory = $1‚000‚000/350‚000=2.857 inventory turnover for 2011 =COGS/Inventory = $1‚200‚000/500‚000=2.4 b. $1‚200‚000 /inventory =2.857 Inventory in 2011 to maintain 2010
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Week 5 Problem Solution Set Accounting/547 October 5th‚ 2012 Chapter 15‚ #83 a) Significant tax issues or concerns that may differ across entity types are: * The business structure’s flexibility * Protection of the liability * The time and cost of organizing the entity Significant non-tax issues or concerns that may differ across entity types are: * Lowering of self-employment and FICA taxes * Flexibility of special allocations * Adding new owners b)
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Off Balance Sheet Financing Practices [Student Name] [Course Title] [Instructor Name] [Date] Off Balance Sheet Financing Practices The traditional accounting methods have been replaced by a number of new accounting techniques. Some of which are observable while other remain hidden. Off Balance Sheet Financing or OBSF is one of these new accounting techniques. It is a mode of obtaining finance for a business without disclosing significant capital expenditures on the balance sheet of a company
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chart of accounts and a ledger are similar in that they both list the account names and account numbers of the business. A ledger‚ though‚ provides more detail. It includes the increases and decreases of each account for a specific period and the balance of each account at a specific point in time. 4. With a double-entry you need to record the dual effects of each transaction. Every transaction affects at least two accounts. 5. A T-account is a shortened form of each account in the ledger. The
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