------------------------------------------------- Assignment 1 BE1-1 Presented below is the basic accounting equation (in thousands). Determine the missing amounts. Assets = Liabilities + Equity 90‚000 = 50‚000 + 40‚000 110‚000 = 40‚000 + 70‚000 ------------------------------------------------- 94‚000 = 41‚000 + 53‚000 BE1-5 Indicate whether each of the following items is an asset (A)‚ liability (L)‚ or part of equity (E). (A) Accounts receivable (L) Salaries and wages payable
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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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Learning Goal 6: Explain the relationships among financial decisions‚ return‚ risk‚ and the firm’s value. 1) Any action taken by the financial manager that increases risk will also increase the required return. True or False 2) In common stock valuation‚ any action taken by the financial manager that increases risk will cause an increase the required return. True or False 3) In common stock valuation‚ any action taken by the financial manager that increases risk will cause an increase
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Ch8 Student: ___________________________________________________________________________ 1. Delta‚ Northwest‚ and United Airlines have all‚ at one time‚ filed for bankruptcy. True 2. In a classified balance sheet‚ we categorize all liabilities as current. True 3. False A line of credit is an informal agreement that permits a company to borrow up to a prearranged limit without having to follow formal loan procedures and paperwork. True 9. False We record interest expense in the period in
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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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Ridderstrale‚ attempting to accomplish with the Account Management System? Are these sensible goals? Why or why not? The motivation for Carl-Erik Ridderstrale‚ president of Kanthal‚ to develop an Account Management System was to find a process of determining the profitability of individual customer orders. An accurate account measurement system was needed in order to achieve a strategy for increasing growth and profitability without adding a significant amount of sales and administrative resources to handle
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Q i) Expalin in detail five basic accounts along with their types and examples Five basic Acounts 1. Assets 2. Liabilities 3. Capital/Owner Equity 4. Revenue/Income 5. Expenses Assets Assets are the resources owened by a business and are expected to give benefit for future operation Example: If you buy a land and it will give benefit in the future operation then it is your asset . if the land which you buy And in future you have to sell only then this is not your asset. If you built
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Comprehensive Story No one can stop a person with an entrepreneurial mind from starting a business. Here I have presented a comprehensive story of a person living in Ahmedabad‚ his name was Jethalal Gada. Since quite young age he was inspired by visionaries such as Dhirubhai Ambani‚ Lakshmi Mittal‚ Narayan Murthy‚ e.t.c. He had decided his path since10th std. & followed it throughout. He first chose commerce stream‚ then took entrepreneurship‚ got good grades in 12th std. & did his MBA
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painful than watching someone not recognize their own voice. The slow‚ inevitable disappearance of a once-whole person into a mere shell of what once existed is the main depiction behind Alzheimer’s Disease. This form of dementia is successful in slowly and painfully turning someone from active into a broken subconscious. A terrifying monster‚ Alzheimer’s Disease has signs and symptoms that can act as a warning for the affected – which includes the individual and their loved ones. Dementia is expected
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Steps In Confirmation Process The steps in the process of confirming receivables follow: Step-1. Obtain Aged Schedule of Accounts Receivable The auditor should obtain an aged schedule of accounts receivable as of the confirmation date. He or she should apply the following procedures to this schedule: Determine that totals are correct. Compare all or a selected sample of account balances with the account balances in the accounts receivable subsidiary ledger. Investigate credit balances.
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