1 1. Jellybean Company reported equity of $32‚000 on its December 31‚ 2014 balance sheet. The following information is available for the year ended December 31‚ 2015: Revenues $73‚000 Expenses 59‚000 Liabilities 11‚000 What are the total assets of Jellybean Company at December 31‚ 2015? A) $14‚000. B) $25‚000. C) $35‚000. D) $46‚000. E) $57‚000. 2. At the end of its first year of operations‚ Matlocke Company has total assets of $2‚000‚000 and total liabilities of $1‚200
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December 31‚ 2009 pro- forma balance sheet and income statements for R& E Supplies‚ Inc. The pro- forma balance sheet shows that R& E Supplies will need external funding from the bank of $ 1.4 million. However‚ they show $ 1.27 million in cash and short- term securities. Why are they going to the bank when they have most of the required amount in their cash account? 2. Pro forma financial statements‚ by definition‚ are predictions of a company’s financial statements at a future point in time. So
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1．A firm has net working capital of $640. Long-term debt is $4‚180‚ total assets are e $6‚230‚ and fixed assets are $3‚910. What is the amount of the total liabilities? Current assets: 6230-3910=2320 Current liabilities: 6230-39102320-640=1680 Total liabilities: 1680+4180=5860 2. Kaylor Equipment Rental paid $75 in dividends and $511 in interest expense. The addition to retained earnings is $418 and net new equity is $500. The tax rate is 35 percent. Sales are $15‚900 and depreciation is
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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‚ and statement of cash flows
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6/23/2014 FINANCIAL STATEMENTS The Hidden Road to Wealth Learning Expection Review accounting basics to understand the information on the financial statements Appreciate the essence of the Financial Statement Understand the component of the Income Statement and the Balance Sheet Determine how Income Statement and Balance Sheet are use in making financial decision 1 6/23/2014 BASIC Terms • FINANCIAL STATEMENT represent a formal record of the financial activities of
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charged $3‚635‚223 depreciation on the income statement of Andrews. Andrews plans to make investment that will increase this depreciation to take advantage of changes in the tax code. Will this?a. Decrease net cash from operations on the cash flow statementb. Increase net cash from operations on the cash flow statementc. Just impact the balance sheet.d. Have no impact on the net cash from operations as depreciation appears in both cash flow and income statementAnswer | Selected Answer:
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Chapter 12 Statement of Cash Flows True / False Questions 1. Interest and dividends from investments held by a company are reported as cash inflows from investing activities on the statement of cash flows. True False 2. Under the indirect method‚ changes in current assets are used in determining cash flows from operating activities and changes in current liabilities are used in determining cash flows from financing activities. True False 3. Using the indirect method‚ the increase
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have? Megabus being a late mover in the US‚ has allowed the company to learn from past mistakes by companies such as Greyhound‚ who filed for bankruptcy in the mid 90’s and who lost most of it’s business due to poorly maintained terminals‚ high prices for fares and unsafe conditions. Megabus’s advantages include fares as lows as 1 dollar‚ free wi-fi‚ stylish buses and power outlets. They Can offer these low fares since the company eliminated purchase Windows for tickets‚ selling tickets online
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Water Balance Adipose tissue is one of the most hydrated of all tissues in the human body. False The most abundant cation in intracellular fluid is sodium. False Electrolytes determine most of the chemical and physical reactions of the body. True Solutes‚ regardless of size‚ are able to move freely between compartments because water carries them along the osmotic gradients.False The thirst center in the brain is located in the hypothalamus.True Dehydration can be caused by endocrine disturbances
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Note: Income Statement Format Hanna 2004-08-03 Income Statement Presentation The objective of studying the format and presentation of the income statement is to gain an understanding of the different ways that certain economic events can be presented. Sometimes‚ the type of presentation depends upon management’s intent regarding the future. Needless to say‚ there is a lot of room for the application of judgment when choosing amongst various acceptable income statement formats. Interpreting
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