Jefferson Animal Rescue is a private not-for-profit clinic and shelter for abandoned domesticated animals‚ chiefly dogs and cats. At the end of 2011‚ the organization had the following account balances: [pic] .:. The following took place during 2012: 1. Additional supplies were purchased on account in the amount of $15‚000. 2. Unconditional (and unrestricted) pledges of support were received totaling $95‚000. In light of a declining economy‚ 5 percent is expected to be uncollectible. The remainder
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AUDITOR’S REPORT [pic] [pic] NOTES TO FINANCIAL STATEMENTS 37.3 Fair values of financial assets and liabilities Fair value is the amount for which an asset could be exchanged‚ or a liability settled‚ between knowledgeable willing parties in an arms length transaction. Notes to the Financial Statements for the year ended June 30‚ 2008 (b) Credit risk Credit risk represents the risk of a loss if the counter parties
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my Hints in parenthesis and mostly underlined for each section of the problem/assignment) 1. Basic concepts. Jean’s Marine Supply specializes in the sale of boating equipment and accessories. Identify the items that follow as an asset (A)‚ liability (L)‚ revenue (R)‚ or expense (E) from the firm’s viewpoint. (Pages 24‚ 33-34) a. The inventory of boating supplies owned by the company. b. Monthly rental charges paid for store space. c. A loan owed to Citizens Bank. d. New
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to answer these questions. (a) The liabilities of Daley Company are $93‚820 and the stockholders’ equity is $255‚900. What is the amount of Daley Company’s total assets? Total assets 349‚700 add liabilities and stockholders equity =assets (b) The total assets of Laven Company are $181‚100 and its stockholders’ equity is $82‚800. What is the amount of its total liabilities? Total liabilities $ 98‚300 asset minus stockholders equity = liabilities (c) The total assets of Peterman Co
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Student Name: Class: Case 09-30 EARRINGS UNLIMITED Budgets April Requirement 1a. Sales budget: Budgeted sales in units Selling price per unit Total sales May June Quarter 65‚000 100‚000 50‚000 $10 $650‚000 Correct! Requirement 1b. Schedule of expected cash collections: February sales $26‚000 March sales 280‚000 April sales 130‚000 May sales June sales Total cash collections $436‚000 Correct! Requirement 1c. Merchandise purchases budget: Budgeted unit sales 65‚000 100‚000 Add desired ending inventory
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days’ time is: Select one: a. decrease the asset computers‚ increase the asset cash‚ decrease the liability accounts payable. b. increase the asset computers‚ increase the asset cash‚ decrease the liability accounts payable. c. increase the asset computers‚ decrease the asset cash‚ increase the liability accounts payable. d. increase the asset computers‚ decrease the asset cash‚ decrease the liability accounts payable. Question 2 Complete Mark 1.00 out of 1.00 Flag question Question text If only
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1.0 Executive Summary The objective of this study is to analyze and evaluate the current and prospective profitability‚ liquidity and financial stability of Pos Malaysia Berhad and on its competitors’ GD Express Sdn Bhd within five years of historical financial statement on both companies. Both companies are incorporated in Malaysia‚ listed in Bursa Malaysia and in the same industry with are postage services. The time frame for five year historical financial statement both companies that we
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(d) Inventory turnover = . (e) Profit margin ratio = . (f) Return on common stockholders’ equity = . (g) Return on assets = . Title | Formula | 2006 | Solution | 2005 | Solution | Current Ratio | Current assetcurrent liability | 220‚00080‚000 | 2.75 | 280‚000140‚000 | 2 | Debt to total asset | long term debt+current liabiltytotal asset | 300‚000+80‚0001‚000‚000 | 0.38 | 320‚000+140‚0001‚080‚000 | 0.425 | Times interest earned | Earnings before taxes+interstInterest
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of financial data. B) Notes (footnotes). C) Management’s discussion and analysis. D) Only B and C are required disclosures. E) All of the above are required disclosures. Answer: E 4. Current liabilities are defined as A) obligations which are incurred during the past year. B) debts at the balance sheet date which must be paid within two years. C) accounts payable and bonds payable. D) debts at the balance
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The Internal Assessment focuses on identifying and evaluating a firm’s strengths and weaknesses in the functional areas of business‚ including: management‚ marketing‚ finance‚ production‚ research and development‚ computer information systems. There are many subareas inside these functions‚ such as customer service‚ warranties‚ advertising‚ packaging‚ and pricing under marketing. The functional business areas differ for different types of organizations‚ such as hospitals‚ universities‚ government
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