| | Final Project ACC-101 | | Comprehensive Problem 2 Guitar Universe‚ Inc. P388 GUITAR UNIVERSER‚ INC. | Trial Balance | December 31‚2009 | Cash | $45‚000 | | Marketable securities | $25‚000 | | Accounts receivable | $125‚000 | | Allowance for doubtful accounts | | $5‚000 | Merchandise inventory | $250‚000 | | Office Supplies | $1‚200 | | Prepaid insurance | $6‚600 | | Building and fixtures | $1‚791‚000 | | Accumulated depreciation |
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1. DTE is wrong 2. Capex 3. Defrev 4. Contributed capital 5. Retained earnings Cash received 1. DTE is wrong 2. Capex 3. Defrev 4. Contributed capital 5. Retained earnings Cash received 1. DTE is wrong 2. Capex 3. Defrev 4. Contributed capital 5. Retained earnings Cash received 1. DTE is wrong 2. Capex 3. Defrev 4. Contributed capital 5. Retained earnings Cash received 1. DTE is wrong 2. Capex 3. Defrev 4. Contributed capital 5. Retained earnings Cash received
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Competition in the Movie Rental Industry in 2008: Netflix and Blockbuster Battle for Market Leadership 2. What forces are driving changes in the movie rental industry and are the combined impacts of these driving forces likely to be favorable or unfavorable in term of their effects on competitive intensity and future industry profitability? -The economy is one of the reasons why rental industry went down. Less people are able to rent a lot of movies. -Second and main reason that drives
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More Practice for the Final Exam Adjusting Entries Key _____ 1. Accruals occur when cash flows: A) Occur before expense recognition. B) Occur after revenue or expense recognition. C) Are uncertain. D) May be substituted for goods or services. Answer: B _____ 2. An example of a contra account is: A) Depreciation expense. B) Accounts receivable. C)
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P4-39 a) Net Operating profit after Taxes (NOPAT) * NOPAT2011= 2114-714-2 +(51-87)*.37 * NOPAT2011=$1389 b) Net Operating Assets (NOA)= Operating Assets- Operating Liabilities * NOA2011= (17849-1103-22) - (8663-557-441)- 1183 NOA2011= $7876 * NOA2010= (18302-1826-90) – (8978-663-35) – 1256 NOA2010= $6850 c) RNOA2011= NOPAT/ AVG NOA * RNOA2011= 1389/((7876+6850)/2) RNOA2011= 18.86% NOPM2011= NOPAT/SALES * NOPM2011= 1389/50272 NOPM=2.76% NOAT2011=
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1. What is the most important difference between a corporation and all other organizational forms? 2. What does the phrase limited liability mean in a corporate context? 3. Which organizational forms give their owners limited liability? 4. What are the main advantages and disadvantages of organizing a firm as a corporation? 5. Explain the difference between an S corporation and a C corporation. 6. You are a shareholder in a C corporation. The corporation earns $2 per share before taxes
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1. | ch01001 | | Financial accounting information is: | | | Student Response | Value | Correct Answer | Feedback | A. | Designed to assist investors and creditors. | 100% | | | B. | Not used by managers and in income tax returns. | | | | C. | Called "special-purpose" accounting information. | | | | D. | Not applicable to individuals. | | | | | Score: | 2/2 | | | 2. | ch01003 | | Generally accepted accounting principles: | | | Student Response |
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d. accounts payable. ANS: Q. Which of the following is considered an asset? a. Accounts payable b. Prepaid expense c. Bad debt d. Stockholders’ equity ANS: Compiled by Manek. 2011. P age |1 ACCY111 / SAMPLE TEST PAPER Q & A Q. The role of accounting in business is best defined as a. an information system that provides reports to stakeholders about the economic activities and condition of a business. b. a method of forecasting the future profitability of a company. c. the policies‚ procedures
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Accounting Principles i Running head: GENERAL ACCEPTED ACCOUNTING PRINCIPLES General Accepted Accounting Principles Accounting Principles ii Abstract My paper is about the GAAP (General Acceptance of Accounting Principles) which were created by the Accounting Principles Board (APB). The board was created by American Institute of Certified Public Accountants (AICPA) in 1959. APB issued 31 Opinions from 1959 to 1973 and those Opinions created GAAP. I think GAAP is interesting
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following liabilities at December 31 of the current year: Accounts Payable – trade 750‚000 Short-term borrowings 400‚000 Bank loan‚ current portion $100‚000 3‚500‚000 Other bank loan 1‚000‚000 The bank loan of $3‚500‚000 was in violation of the loan agreement. The creditor had not waived the rights for the loan. Half the other bank loan will mature on June 30 next year‚ and the other half in the year following. Interest on the other bank loan is not included in the above figures
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