According to the entity theory‚ there is no fundamental difference between liabilities and owners equity. Both provide capital to the business entity and receive income in return in the form of interest and dividends (Schroeder‚ Clark‚ & Cathey‚ 2009‚ page 363). Under entity theory‚ liabilities and equity would require separate line disclosure in the balance sheet‚ but there would be no subtotals for total liabilities or total equity. (Schroeder‚ Clark‚ & Cathey‚ 2009‚ page 363). Both are considered
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Secured Loans | 5‚368.76 | 5‚039.91 | 4‚842.43 | 2‚622.52 | 592.38 | 716.71 | Unsecured Loans | 3‚350.26 | 1‚986.31 | 3‚080.17 | 3‚043.04 | 342.00 | 200.00 | Total Debt | 8‚719.02 | 7‚026.22 | 7‚922.60 | 5‚665.56 | 934.38 | 916.71 | Total Liabilities | 3‚636.62 | 4‚075.03 | 4‚044.65 | 3‚532.10 | 1‚123.16 | 1‚290.39 | APPLICATION OF FUNDS : | | | | | | | Gross Block | 2‚238.72 | 2‚254.26 | 2‚048.13 | 1‚891.80 | 322.33 | 340.77 | Less : Accumulated Depreciation | 795.69 | 682
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$1‚952‚580 Company A Tropical Wave Corporation Partial Balance Sheet 31-Dec Current Assets: Current Liabilities: Cash $512‚863 Accounts Payable $250‚000 Accounts Receivable‚ net 734580 Long-term Liabilities: Water Sports Equipment Inventory 620‚000 Bonds Payable 450‚000 Lotion Inventory 560000 Other 100‚000 Other 8‚825 Total Liabilities $800‚000 Total Current Assets
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P 30‚000 Loss of P100‚000‚ 4:3:3 ( 40‚000) ( 30‚000) ( 30‚000) Cash distribution P – P150‚000 P – 4-8: b NORY OSCAR Capital balances before realization P23‚000 P 13‚500 Additional investment by Nory for the unpaid liabilities (33‚000-18‚000) 15‚000 – Loss on realization (schedule 1) ( 30‚900) ( 20‚600) Payment by Oscar to Nory P 7‚100 ( P7‚100) Schedule 1 Total capital before liquidation P 36‚500
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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 of time and the owner’s equity in the business decreased by RM20‚000 during the same period‚ the assets of the business must have: A. decreased by RM17‚000 B. decreased by RM23‚000 C.
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100 100 100 100 100 100 100 100 100 100 100 100 Liabilities & Equity Accounts Payable 9.8 2.2 7.4 9.1 38.3 18 35.1 22.6 6.7 8.5 8.4 8.5 18 17.9 1.4 4.8 Debt in Current Liabilities 0.5 9.1 0 0 0 0 0.1 0 1.5 0 3.5 5.6 6.5 1.6 0.8 14.9 Income Taxes Payable 2.8 1.6 0.9 1.7 0 0 0 0 0 1.2 0.9 1 1.1 0.9 0.3 nmf Current Liabilities - Other 13 8.5 3.8 13.7 22.6 15.3 14.7 17.6 6.1 7.1 19.5 14.4 10.1 5.1 5.1 8.7 Current Liabilities - Total 26.1 21.4 12.2 24.4 60.9 33.3 49.9 40.2 14
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Accounting Equation Paper NAME ACC/300 INSTRUCTOR DATE The basic accounting equation is: Assets = Liabilities + Stockholders’ Equity. When looking at the balance sheet one can assume that assets must balance out each transaction and balance the claims to the assets (Kimmel‚ 2010). A balance sheet provides Assets of the company first and foremost‚ then Liabilities and Stockholders’ Equity and last retained earnings. This shows the companies incoming money‚ outgoing payments‚ and the
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What is the amount of total liabilities and equity that appears on the firm’s balance sheet? The amount of total liabilities and equity that appears on the firm’s balance sheet is
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(You will need to compute the missing figure for Notes Payable). (Be sure to list the assets and liabilities in order of their liquidity. Omit the "$" sign in your response.) THE SWEET SODA SHOP Balance Sheet September 30‚ 2011 Assets Cash Accounts receivable Building Furniture and fixtures Land Supplies Total Liabilities & Owners ’ Equity Liabilities: Notes payable Accounts payable Total Liabilities Owners ’ equity: Capital stock Retained earnings Total $ 7‚400 1‚250 45‚500 20‚000 55‚000 3‚440 $
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sales figures might not be met in the future which would severely lower the overall profit after tax. With this in mind‚ it is important to be prepared to meet the possibility that this positive forecast might not be met and that more debt and liabilities will have to be paid off than expected. Figuring out what the future markets have in store for a company is always tricky to determine. 2. If the future events of The Body Shop were to happen exactly as this forecast has said they would‚ then
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