30000 25000 21029.26 23517.08 18879.13 15295.40 27312.95 20000 18000 16000 14000 12000 10000 8000 10745.47 13874.10 15622.82 17071.06 19186.27 20000 15000 10000 5000 0 6000 4000 2000 2007 2008 2009 2010 2011 0 2007 2008 2009 2010 2011 1600 1400 1200 1000 800 600 400 200 0 2007 2008 2009 2010 1130.95 1042.40 1174.21 1270.37 1473.49 2011 16000.00 14266.73 15800.96 12000 10000 8110.41 9250.35 7448.31 6370.46 11511.99 14000.00 12000.00 10000.00 8000.00 6000
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The way I think of Accounting is that it is a fundamental part of our way of life. This is because I believe that every person in the world uses the principle of Accounting at least once in their lives. It can be things that they do in their daily life‚ for example‚ checking how much money they have with them‚ or how much they have spent; or they use it in businesses and large-scale transactions where it is commonly known. My main ambition for the future is to become a Chartered Accountant. I
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Financial Statement Differentiation There are four different types of financial statements; they are balance sheets‚ income statements‚ retained earnings statements‚ and statements of cash flows. Each of these financial statements are important to investors‚ creditors‚ and management in various ways. This paper will provide further insight into these financial statements as well as explore‚ which of these would be of interest to investors‚ creditors‚ and management. Financial Statements
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1. Suppose the Federal Reserve instructs the Trading Desk to purchase $1 billion of securities. Show result of this transaction on the balance sheets of the Federal Reserve System and commercial banks. > Change in Federal Reserve’s Balance Sheet Assets Liabilities Securities + $1 billion
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following represents the basic accounting equation? A. Owners ’ Equity − Liabilities = Assets B. Liabilities = Assets + Owners ’ Equity C. Assets = Liabilities + Owners ’ Equity D. Assets + Liabilities = Owners ’ Equity 4. Nearly a week before Hurricane Katrina reached New Orleans‚ Wal-Mart began moving trucks and supplies into position‚ as specified in the company ’s ________ plan. A. tactical B. strategic C. contingency D. operational 5. Sole proprietorships have all of the following advantages
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financial performance of the company. What strengths and/or weaknesses would you highlight to Adeline Koh? 2. Forecast the firm’s financial statements for 2002 and 2003. What will be the external financing requirements of the firm in those years? Can the firm repay its loan within a reasonable period? 3. What are the key driver assumptions of the firm’s future financial performance? What are the managerial implications of those key drivers? That is‚ what aspects of the firm’s activities should
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invoice number included on it. 2. Discuss with the sales manager whether any sales allowances have been granted after the balance sheet date that may apply to the current period. 3. Add the columns on the aged trial balance and compare the total with the general ledger. 4. Observe whether the controller makes an independent comparison of the total in the general ledger with the trial balance of accounts receivable. 5. Compare the date on a sample of shipping documents throughout the year
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information was taken from the 2006 financial statements of pharmaceutical giant Merck and Co. All dollar amounts are in millions. Retained earnings‚ January 1‚ 2006 $37‚980.0 Materials and production expense 6‚001.1 Marketing and administrative expense 8‚165.4 Dividends 3‚318.7 Sales revenue 22‚636.0 Research and development expense 4‚782.9 Tax expense 1‚787.6 Other revenue 2‚677.1 Hint: Prepare income statement and retained earnings statement. (SO 4) Instructions (a)
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(Social Security No. 354-12-6531) owns the remaining 60% interest but is not active in the business. His address is 807 9th Avenue‚ North Miami‚ Florida 33134. The partnership values its inventory using the cost method and did not change the method used during the current year. The partnership uses the accrual method of accounting. Because of its simplicity‚ the partnership is not subject to the partnership audit procedures. The partnership has no foreign partners‚ no foreign transactions‚ no interests
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Accounting and the Four Basic Accounting Statements Accounting is a body of principles and conventions as well as established general process for capturing financial information related to an entity’s resources and their use in meeting the entity’s goals (Kaliski‚ 2007). It is essential for companies to have educated and trained accountants to analyze and maintain their financial information. Accountants use four different types of financial statements to accomplish this. The purpose of accounting
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