Cash $ 690‚000 $ 540‚000 Accounts Receivable (net) 1‚560‚000 1‚080‚000 Merchandise Inventory 1‚950‚000 1‚260‚000 Prepaid Expenses 351‚000 315‚000 Total Current Assets 4‚551‚000 3‚195‚000 Long-Term Investments 225‚000 Plant Assets: Property‚ Plant & Equipment 2‚190‚000 1‚440‚000 Accumulated Depreciation (450‚000) (270‚000) Total Plant Assets 1‚740‚000 1‚170‚000 Total Assets $6‚516‚000 $4‚365‚000 Equities: Current Liabilities: Accounts Payable $1‚275‚000 $1‚095‚000
Premium Balance sheet Generally Accepted Accounting Principles Depreciation
books by the acquisition. . . . Company L: Is the largest food-service contractors in the country‚ a large chain of family and fast food restaurants. • A lower current liability figure‚ since land does not depreciate. • A higher accounts receivable figure which indicates that the company is operating in the retail sales channel where selling on credit is common. • A lower ratio of property‚ plant & equipment‚ which signifies the fact that much of the companies business comes from financial
Premium Balance sheet Generally Accepted Accounting Principles Accounts receivable
Chapter 5 18. a. They should use the resistance of meeting auditing standards and contributory neglegence. Stuart Supply Company management is responsible for the fraud. The fraud was complicated and difficult to discover‚ but the steps recommended by Lauren Yost & Co made it possible. The president of Stuart Supply Company ignored the proposal to count the inventory on the same day‚ and was therefore responsible to breakdown of detecting the fraud due to his decision. Luckily‚ Lauren Yost & Co
Premium Balance sheet Accounts receivable Auditing
International Research Journal of Finance and Economics ISSN 1450-2887 Issue 49 (2010) © EuroJournals Publishing‚ Inc. 2010 http://www.eurojournals.com/finance.htm The Relationship between Working Capital Management and Profitability: A Vietnam Case Huynh Phuong Dong Faculty of Accounting‚ Danang University of Economics‚ Vietnam E-mail: pdong2000@gmail.com Tel: +84989392392 Jyh-tay Su Assistant professor at Southern Taiwan University‚ No.1 NanTai St Yong Kang City‚ Tainan County‚ Taiwan R.O.C
Premium Accounts receivable Balance sheet Inventory
a) LOAN SYNDICATION – Rhodes 1996:13) defines a syndicated credit as a loan in which two or more banks (the syndicate) contract with a borrower to provide (usually medium term) credit on common grounds governed by a common document. One member of the group is normally appointed to act as the managing or lead bank for the syndicate and it is the role of this bank to coordinate all negotiations‚ payments and administration between parties once the contract has been executed.it is a multi - bank transaction
Premium Debt Finance Accounts receivable
Module 2: Preparation of Books of Accounts Double Entry System • Double entry system was introduced to the business world by an Italian merchant named Lucas Pacioli in 1494 A.D. According to J.R.Batliboi “Every business transaction has a two-fold effect and that it affects two accounts in opposite directions and if a complete record were to be made of each such transaction‚ it would be necessary to debit one account and credit another account. It is this recording of the two fold effect of every
Premium Accounts receivable Double-entry bookkeeping system Bookkeeping
Working capital management : I t involves managing the relationship between a firm’s short-term assets and its short-term liabilities. The goal of Working capital management is to ensure that the firm is able to continue its operations and that it has sufficient cash flow to satisfy both maturing short-term debt and upcoming operational expenses. Management of working capital Guided by the above criteria‚ management will use a combination of policies and techniques for the management of working
Premium Asset Accounts receivable Working capital
all on account. Debit | CreditAccount Receivable $1‚300 |Service Revenue | $1‚300 | (d) | Received $800 from customers in payment of their accounts. Debit | CreditCash $800 |Account Receivable
Premium Generally Accepted Accounting Principles Balance sheet Liability
an aging schedule of accounts receivable that shows estimated uncollectible accounts of $5‚200. Before journal entries‚ the Allowance for Doubtful accounts has a debit balance of $300 and Accounts Receivable has a balance of $85‚000. 2. On July 5‚ Morrison was notified that Sperry Ltd has declared bankruptcy and Morrison writes off its A/R of $800. 3. On September 12‚ Sperry notifies Morrison that it can pay its $800 debt and includes a cheque for the entire amount. Date Account Debit Credit Calculations:
Premium Accounts receivable Generally Accepted Accounting Principles 1966
about foreign suppliers‚ which has helped Belco source some products more effectively from other countries. Pam Arnold leads Belco’s Global Credit team‚ which oversees risk management and the collections of accounts receivable. Between 40 and 50 percent of Belco’s sales are made on open account terms and it is this team’s job to make sure customers fulfill their payment obligations. At any given time if just a few receivable’s turn into bad debts that need to be written off‚ Belco’s overall profitability
Premium Accounts receivable