Example Company Balance Sheet December 31‚ 2011 ASSETS LIABILITIES Current Assets Current Liabilities Cash $ 2‚100 Notes Payable $ 5‚000 Petty Cash 100 Accounts Payable 35‚900 Temporary Investments 10‚000 Wages Payable 8‚500 Accounts Receivable - net 40‚500 Interest Payable 2‚900 Inventory 31‚000 Taxes Payable 6‚100 Supplies 3‚800 Warranty Liability 1‚100 Prepaid Insurance 1‚500 Unearned Revenues 1‚500 Total Current
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1. Q:Collect Balance Sheet of five different companies. Try to analyse it in your own words. Analysis can be in terms of change in profit‚ asset‚ liabilities. Etc ZYNGA [pic] The First comapny we’ll be looking at is Zynga. Let’s jump right into it. Across the board‚ the Total Current Assets is less than the previous year‚ more more than other earlier years. This could indicate that the company may have liquidized some of their assests within the year. Total Assests is greater than the
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examples. (10 Marks) 2. Explain any two types of errors that are disclosed by trial balance with examples and rectification entry. Note - Avoid giving examples given in the self learning material. (10 marks) Nov 2010 3. Let us assume you have been recently appointed as Management Accountant of a small but upcoming firm. Your immediate supervisor has asked you to prepare certain financial ratios from the balance sheet of one of their clients M/s Vinod Enterprise. Liabilities Amount Assets Amount
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Rent Expense | 6‚200 | Electricity Bill – paid on May 30‚ 2011 | 8‚500 | Land | 15‚000 | Depreciation Expense | 31‚750 | | | Required Prepare a fully classified vertical format Balance Sheet for Nguyen Bich Fitness Club as at June 30‚ 2011 EXERCISE 2. The following are account balances of Brickwork as | | | | at 31 December 2010: | | | | | | | | | | | | | | Account | Amount ($) | | | | | | Plant & machinery | 25‚000 | | | | | |
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College Assignment Material Adjusting Entries‚ Posting‚ and Preparing an Adjusted Trial Balance Posting Entries Use this General Ledger to post adjusting entries to all ledger accounts for Modine Company‚ Inc. The first two accounts are completed for you. Make sure you: a) Fill in the correct information‚ including account titles and numbers for the remaining accounts; and b) Place a check mark in the reference column‚ when applicable. You can copy the check mark in the Cash account and paste
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Entertainment Limited (PVR bluO) Presently the Company operates two bowling alley centers at Ambience Mall-I‚ Gurgaon and Ambience Mall-II‚ at Vasant Kunj‚ New Delhi. The Company has made a roadmap for expansion of its business and will accordingly open additional bowling centers in India at Pune‚ Bangalore‚ Chandigarh‚ Ludhiana and Noida. These bowling centers on being operational are expected to enhance the income and profitability of the Company. Industry Structure & Development The Indian film
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Manilalectric Company and Subsidiaries Statement of Financial Position As of Dec.31‚2013 Common Size % 2013 2012 2011 ASSETS Noncurrent Assets Utility plant and others Investment in associates and joint ventures Investment properties Deferred tax assets- net Other noncurrent assets- net 42.65 5.08 0.58 2.04 8.94 50.40 0.84 0.75 1.41 4.07 49.98 0.4 0.78 0.34 3.12 Total noncurrent Assets 59.59 57.47 54.63 Current Assets Cash and cash equivalents
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concept. b. monetary unit assumption. c. economic entity assumption. d. corporate form of ownership 2. All of the financial statements are for a period of time except the a. income statement. b. balance sheet c. owner’s equity statement. d. statement of cash flows 3. A trial balance will not balance if a. a journal entry is posted twice. b. a wrong amount is used in journalizing. c. incorrect account titles are used in journalizing. d. a journal entry is only partially posted. 4. In a service-type
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Merideth Harper has invested $25‚000 in Southwest Development Company. The firm has recently declared backruptcy and has $60‚000 in unpaid debts. Explain the nature of payments‚ if any‚ by Ms. Harper in each of the following situations a. Southwest Development Company is a sole proprietorship owned by Ms. Harper. b. Southwest Development Company is a 50-50 partnership of Ms. Harper and Christopher Black. c. Southwest Development Company is a corporation. P1-3 (Page 27) a. It is typical for Jane to
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Balance sheets: the basics A balance sheet is a financial statement at a given point in time. It provides a snapshot summary of what a business owns or is owed. It states what assets the business ownes and what it owes – liabilities‚ at a particular date. The balance sheet is uded to show how the business is being funded and how those funds are being used. The balance sheet is used in three ways: • for reporting purposes (limited company’s annual accounts) • help interested
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