P9-7A The intangible assets section of Redeker Company at December 31‚ 2011‚ is presented below. Patent ($70‚000 cost less $7‚000 amortization) $63‚000 Franchise ($48‚000 cost less $19‚200 amortization) 28‚800 * Total $91‚800 * The patent was acquired in January 2011 and has a useful life of 10 years. The franchise was acquired in January 2008 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2012. Jan. 2 Paid $45‚000
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Unearned revenues are revenues that are received before the company delivers goods or provides services. Some industries that have unearned revenues would include magazine publishers as they only receive checks from customers once the magazine is ordered. Until then the company awaits payment and does not have this in advance. Another company would be airlines because they receive cash once the tickets are sold for future flights. Unearned revenue is used by any company that accepts payments or deposits
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------------------------------------------------- 1) The Sarbanes-Oxley Act requires that all publicly traded companies maintain a system of internal controls. Internal controls can be defined as a plan to A.safeguard assets B.monitor balance sheets C.control liabilities D.evaluate capital stock ------------------------------------------------- 2) The purchase of treasury stock A. decreases common stock authorized B. decreases common stock issued C. decreases common stock outstanding D
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Memo To: Huffman Trucking CEO From: Date: September 3‚ 2002 ------------------------------------------------- Re: Ratio Analysis Findings Ratios are used to analyze financial statements to determine their profitability‚ liduidity and solvency. Liquidity Ratios are used by suppliers and short-term creditors such as bankers to measure the ability of an organization to pay its maturing short-term financial obligation. This is also used to determine whether the organization will be able to meet
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In this file ACC 291 Week 2 Individual WileyPLUS Assignment you can find right answers on the following questions: 1. Exercise E8-3. The ledger of Hixson Company at the end of the current year shows Accounts Receivable $120‚000‚ Sales $840‚000‚ and Sales Returns and Allowances $30‚000. 2. Exercise BE9-13. Correct. Information related to plant assets‚ natural resources‚ and intangibles at the end of 2011 for Spain Company is as follows: buildings $1‚100‚000; accumulated depreciation-buildings
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ACC/291 March 25‚2012 Liquidity Ratios Current Ratio: Current Assets/Current Liabilities 2005 $14‚555‚092/ $6‚974‚752= 2.09:1 2004 $14‚643‚456/ $6‚029‚696=2.43:1 Acid Test Ratio: Cash+ Short-Term Investments + Receivables (Net)/ Current Liabilities 2005 $305‚563 + $283‚583 +$6‚133‚663/ $6‚974‚752= .96:1 2004 $357‚216 + $133‚504 + $5‚775‚104/ $6‚029‚696=1.04:1 Receivables Turnover: Net Credit Sales/ Average Net Receivables 2005 $50‚823‚685/ ($6‚133‚663 + 5‚775‚104/2) $50‚823‚685/
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ACC 291 Week 3 Discussion Questions and Responses www.paperscholar.com DIRECT LINK TO THIS STUDY GUIDE: http://www.paperscholar.com/acc-291-week-3-discussion-questions-and-responses/ Instantly Download! Get Better Grades in Less Time! 100% Satisfaction Guarantee DESCRIPTION FOR THIS STUDY GUIDE: Week 3: DQ1: The following are characteristics of a corporation: (a) separate legal existence‚ (b) limited liability of stockholders‚ and (c) transferable ownership rights. Explain these characteristics
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ACC 291 Week 4 Learning Team Study Guide www.paperscholar.com DIRECT LINK TO THIS STUDY GUIDE: http://www.paperscholar.com/acc-291-week-4-learning-team-assignment/ Instantly Download! Get Better Grades in Less Time! 100% Satisfaction Guarantee DESCRIPTION FOR THIS STUDY GUIDE: Complete the two assigned learning team problems found in the Week 4 Microsoft® Excel® template provided in the Course Materials forum. Submit the completed Microsoft® Excel® template to the Assignments Tab.
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Vertical Balance Sheet 2006 2005 2004 ASSETS Current Assets Cash On Hand $ 1‚895 $ 1‚900 $ 1‚900 Petty Cash 250 250 250 Checking Account 39‚595 32‚557 16‚557 Inventory - Groceries 10‚985 11‚381 10‚629 Inventory - Liquor 6‚825 7‚284 6‚548 Inventory
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E11-15 | | | | |After | |After | | | | | |Stock | |Stock | | | |Before | |Dividend | |Split | |
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