Financial Accounting Easy: 1. Which of the following is usually considered cash? a. Certificate of deposit b. Checking account c. Money market saving certificate d. Postulated Check 2. In preparing the August 31‚ 2011 bank reconciliation‚ Apex Company provided the ff. information Balance per bank statement 1‚805‚000 Deposit in transit 325‚000 Return of customer’s check for 60‚000 Insufficient fund Outstanding checks 275‚000 Bank service change
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Balance Sheet and Income Statement Jennifer Grayson BSA/500 June 4‚ 2011 Brian Keltch Balance Sheet and Income Statement The following four companies are related to the companies that have been in review over the last four weeks. These four following companies show how well the company has been doing over the last two years or not so well. The company has pulled their balance sheets and income statement to see if all the company’s financial needs are being met. If the company’s needs are
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Allfoods Corp. (Allfoods) acquired 80 percent of the outstanding common stock of Baked Beans Corp. in a business combination. After value consideration transferred value of tangible and intangible assets acquired‚ libilities assumed‚ I recommend doing this consolidation general entry for the business combination: Dr. | Land | $ 21‚000‚000 | | | | Dr. | PPE | $ 7‚000‚000 | | | | Dr. | IPR&D | $ 15‚000‚000 | | | | Dr. | Trademark | $ 3‚000‚000 | | | | Dr. | Goodwill
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through neglect or fraudulent activity compromise a patient’s personal health information. Channel 13 in Indiana did an investigation on pharmacies throughout our nation which discarded prescription labels‚ pill bottles‚ and patient information sheets with patient’s personal information into their unsecured dumpsters around Boston‚ Chicago‚ Cleveland‚ Dallas‚ Denver‚ Detroit‚ Miami‚ Louisville‚ Philadelphia‚ and Phoenix. When prescriptions are dropped off‚ electronically transferred‚ or called
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Financial Accounting Theory Fall 2011 Professor Kevin C. K. Lam Room 1016 Chung Yu Tung (CYT) Building The Chinese University of Hong Kong Phone: 2609-7894 E-mail: kevinlam@cuhk.edu.hk Webct: http://webct.cuhk.edu.hk Course Scope and Objectives Financial Accounting Theory is concerned with the models‚ hypotheses‚ and concepts that together form the foundation for financial accounting practice. This course introduces modern financial accounting theories and integrates accounting practices
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Income statement: In the case of sole proprietary and partnership concerns there are no prescribed forms of the income statement and balance sheet. Their preparation is also desirable but not compulsory. However‚ they are generally prepared. In the case of trading concern‚ a trading account and in the case of a manufacturing concern‚ a manufacturing account and a trading account can also be prepared. In such a case‚ the account heading is mentioned as follows: Manufacturing/trading and profit and
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Balance Sheet and Income Statement Commentary Belinda Greer BSA/500 March 24‚ 2012 Murali Ramachandran Balance Sheet and Income Statement Commentary Balance sheets and income statements are a snapshot of a company’s stability and financial situation. Combined the statements show the income‚ expenses‚ and stockholder’s equity in the company. These statements are often analyzed by financial institutions when a company comes to them needing a loan. Stockholders and other investors also look
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Balance Sheet and Income Statement Commentary BSA/500 – Business Systems I July 2‚ 2012 Balance Sheet and Income Statement Commentary JB Hunt (Trucking and logistics) On JB Hunt’s balance sheet for 2011 lists current assets of $513‚542‚000 and current liabilities of $438‚515‚000‚ yielding a current ratio of 1.17‚ which indicates the company‚ has $1.17 of current assets for every $1 of current liabilities. The previous year 2010‚ the current ratio was 0.91. This shows a 29% increase in the
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CHAPTER 4 & 5 – BALANCE SHEET AND INCOME STATEMENT -Identify the different financial statements (BS*‚ IS‚ Statement of Stockholders’ Equity‚ and related notes) -Identify the different components of the BS (Assets: current and long term; Liabilities: current and long term; stockholders’ equity: preferred stock‚ common stock‚ PIC‚ treasury stock) -Identify the different component of the IS (Gross profit‚ earnings before interest and taxes‚ interest expense‚ income tax expense‚ income from continuing
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Course Project Comprehensive Balance Sheet December 31st 2012 Assets Current Assets Cash $42‚485 Account Receivable $165‚824 Allowance for Doubtful accounts 1‚850 Net Accounts Receivable 163‚974 Inventories 499‚493 Securities (available for sale/at fair market value) 28‚250 Notes Receivable (due next year) 23‚000 Prepaid Expenses 16‚252 Total Current Assets……………………………………………………………………………………$773‚454 Non-Current Assets
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