concept. b. monetary unit assumption. c. economic entity assumption. d. corporate form of ownership 2. All of the financial statements are for a period of time except the a. income statement. b. balance sheet c. owner’s equity statement. d. statement of cash flows 3. A trial balance will not balance if a. a journal entry is posted twice. b. a wrong amount is used in journalizing. c. incorrect account titles are used in journalizing. d. a journal entry is only partially posted. 4. In a service-type
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Balance sheets: the basics A balance sheet is a financial statement at a given point in time. It provides a snapshot summary of what a business owns or is owed. It states what assets the business ownes and what it owes – liabilities‚ at a particular date. The balance sheet is uded to show how the business is being funded and how those funds are being used. The balance sheet is used in three ways: • for reporting purposes (limited company’s annual accounts) • help interested
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Solved Ans. Accounts CA IPCC Nov. 2010 1 Attention C.A. Pcc & Ipcc Students Ipcc_Nov.10 Solved Ans. Acc. Ipcc_Nov.10 Keep Watching our website* for further solution. *www.jainclassesonline.com (No.1 Institute of Jharkhand) C.A. CPT‚ PCC‚ IPCC & FINAL Solved Ans Prepared by : C.A Arvind Kumar Jain and Team Members (Disclaimer : Questions asked in the exam may have wrong/inadequate information and/or ambiguous language. In that case the answers provided by institute may differ from
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Zeiber’s 2014 income statement and balance sheets. Use the following assumptions: (1) Sales grow by 6%. (2) The ratios of expenses to sales‚ depreciation to fixed assets‚ cash to sales‚ accounts receivable to sales‚ and inventories to sales will be the same in 2014 as in 2013. (3) Zeiber will not issue any new stock or new long-term bonds. (4) The interest rate is 11% for long-term debt and the interest expense on long-term debt is based on the average balance during the year . (5) No interest is
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A balance sheet is a statement businesses produce that outlines their assets and liabilities. It is a snapshot of their fixed assets‚ current assets‚ current liabilities and long term liabilities for a specific moment in time such as the end of a financial year. Using these figures‚ a business is able to calculate their net working capital; how much the business is worth‚ whether it can afford to expand and if it is a good venture for investors. There are different groups of people who are interested
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Summary Purposes of the Balance Sheet 1. A balance sheet‚ or statement of financial position‚ summarizes the financial position of a company at a particular date by reporting the economic resources (assets)‚ the economic obligations (liabilities)‚ and equity. It reports a company’s resource structure (major classes and amounts of assets) and its financial structure (major classes and amounts of liabilities and equity). It is a detailed explanation of the basic accounting equation: Assets =
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24/08/2013 Vmware‚ Inc. (VMW) Balance Sheet - NASDAQ.com Home > Quotes > VMW > Company Financials VMW Company Financials VMW $87.8 * 2.34 *Delayed - data as of Aug. 23‚ 2013 2.74% Cash Flow Financial Ratios Get Quarterly Data 12/31/2012 12/31/2011 12/31/2010 12/31/2009 Income Statement Balance Sheet Annual Income Statement (values in 000’s) Period Ending: Current Assets Cash and Cash Equivalents Short-Term Investments Net Receivables Inventory Other Current Assets Total
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Bibliography: Jeannie D. Johnson and Michael G. Tearney‚ "Goodwill -An Eternal Controversy"‚ The CPA Journal‚ p: 58-62‚ April 1993. David Tweedie and Jeannot Blanchet‚ "Brands‚ Goodwill and the Balance sheet"‚ Accountancy‚ p: 20-22‚ January 1995. Merrill Lynch‚ “Goodwill Accounting: The overhaul affect.” New York November 2001 Schneider‚ Craig. “CFOs Sweat FASB ’s Goodwill Accounting Changes‚ Says Study.” CFO.com November 13‚ 2001. Schneider‚ Craig
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E12-1 (Classification Issues—Intangibles) Presented below is a list of items that could be included in the intangible assets section of the balance sheet. Instructions (a) Indicate which items on the list would generally be reported as intangible assets in the balance sheet. (b) Indicate how‚ if at all‚ the items not reportable as intangible assets would be reported in the financial statements. 1. Investment in a subsidiary company. 2. Timberland. 3. Cost of engineering
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DBA 7101 MANAGEMENT CONCEPTS ASSIGNMENT-1 1. Discuss the role of various approaches of management in management theory. Which approach‚ do you think‚ adequately clears the nature of management? ……………………………………………………………………………[10 marks] 2. “Decision making is the primary task of the management”. Discuss this statement and explain the process of decision making. [10 marks] ASSIGNMENT-2 1. What are the leadership qualities
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