1. Alleg‚ Inc. Balance Sheet December 31‚ 2012 Assets Current Assets Cash And Cash Equivalents 14‚000 Marketable securities 17‚000 Accounts Receivables‚ Net 26‚000 Inventory 33‚000 90‚000 Total Long Term Assets Land and Buildings 57‚000 Machinery and equipment 120‚000 Accumulated Depreciation 61‚000 Goodwill 13‚000 Intangible Assets 9‚000 Other Assets 45‚000 183‚000 Total Assets 273‚000
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prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the first quarter: a. As of December 31‚ 2011 (the end of the prior quarter)‚ the company’s general ledger showed the following account balances: DEBIT CREDIT $ $ Cash 48‚000 Accounts receivable 224‚000 Finished goods Inventory (1000 units) 60‚000 Raw Materials inventory (500 units) 10‚000 Buildings and equipment (net) 370‚000 Accounts payable 93‚000 Capital stock 510
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6. A proforma cost sheet of a company provides the following particulars : Elements of Cost Material 40% Direct Labour 20% Overheads 20% The following further particulars are available: (a). It is proposed to maintain a level of activity of 2‚00‚000 units. (b).Selling price is Rs.12 per unit (c) Raw materials are expected to remain in stores for an average period of one month (d) Materials will be in process‚ on averages half a month. (e) Finished goods are required to be in stock for
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The balance sheet approach’s main goal is to properly value assets and liabilities. The assets are most commonly valued by the amount of money they can receive by selling that asset for or how much they spent for the asset. The determination of the accounting method depends on the nature of the underlying item and how the firm intends to use it. Earnings is a function of the change in net assets. The income statement approach’s main goal‚ on the other hand‚ is to determine revenues‚ expenses‚ and
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analysis and application of the balance sheet Kuang xin Financial accounting is one of the most popular major in the world. In the study of accounting‚ people must know and use expertly the three accounting statement‚ balance sheets‚ cash flow‚ and income statement. It is the most basic and useful skill in one’s career of accounting. But in the four basic financial statement‚ the balance sheet or called statement of financial position is the only one which
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Off balance sheet financing is financing from sources other than debt or equity offerings‚ such as joint ventures‚ research and development partnership and operating leases. For complex institutions such as banks‚ they increase their use of off shore subsidiaries and swap transactions to avoid disclosing liabilities. In other words‚ off balance sheet accounting is a process which a business creates what is practically a debt that it must pay off‚ but the debt is accounted as another type of transaction
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Financial Statement Companies use several tools such as a balance sheet to make sound business decisions. A balance sheet is a quantitative summary of a company ’s financial condition at a specific point in time‚ including assets‚ liabilities and net worth. The first part of a balance sheet shows all the productive assets a company owns‚ and the second part shows all the financing methods (such as liabilities and shareholders ’ equity) Also‚ called statement of condition.
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Introduction | 2 | Financial statements | 3 | types of financial statement | 4 | relationship between financial statement | 5 | financial statement in practice | 6 | | | | | Introduction Financial Statement In the name of Allah most gracious most merciful. In this essay I will take about financial statement. Trying to write everything I knew about it‚ starting with the types of financial statement‚ relationship between financial statement and financial statement in practice. I will
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1) The standards and rules that are recognized as a general guide for financial reporting are called __________. D. generally accepted accounting principles 2) What is value chain management best defined as? A. All activities associated with providing a product or service 3) These are selected account balances on December 31‚ 2008. Land (location of the corporation’s office building) $150‚000 Land (held for future use) 225‚000 Corporate Office Building 900
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-Starbucks Corporation and the use of “Off-Balance Sheet” Financing Starbucks Corporation‚ founded in 1985 in Seattle‚ Washington‚ purchases‚ roasts and sells whole bean coffees at retail locations worldwide. Starbuck’s in-store products include brewed coffees‚ espresso beverages‚ blended beverages‚ complimentary food items‚ teas and brewing equipment. At the end of 2009‚ Starbucks operated through 7‚ 803 retail locations in 49 countries (Annual Report 4). In recent years‚ Starbucks’s stock
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