160 162 161 164 Find the line of regression and calculate the expected average height of the son when the height of the father is 154cm. 2. Use the sign test to see if there is a difference between the number of days until collection of an account receivable before and after a new collection policy. Use 0.05 significance level. [ 10 marks] Before 30 28 34 35 40 42 33 38 34 45 28 27 25 41 36 After 32
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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 business‚ revenue is considered earned a. at the end of the month. b. at the end of the year.
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Sample Balance Sheet: Example Company Balance Sheet December 31‚ 2011 ASSETS | | | LIABILITIES | Current assets | | | Current liabilities | | | Cash | $ 2‚100 | | | Notes payable | $ 5‚000 | | Petty cash | 100 | | | Accounts payable | 35‚900 | | Temporary investments | 10‚000 | | | Wages payable | 8‚500 | | Accounts receivable - net | 40‚500 | | | Interest payable | 2‚900 | | Inventory | 31‚000 | | | Taxes payable | 6‚100 | | Supplies | 3‚800
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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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two accounted‚ types of Accounts‚ Debited/Credited & Reason for Debit or Credit. 1) Mehta started business with Rs. 8000. 2) Purchased goods for cash Rs. 2800. 3) Purchased furniture from Godrej Company Rs. 1000 for cash. 4) Sold goods to Babubhai on credit Rs. 700. 5) Paid for postage stamps purchased Rs. 30. 6) Sold goods to Nanabhai for cash Rs. 400. 7) Paid to Navakal Rs. 500 for Advertisement. 8) Paid to Kishanchand for salary Rs. 1000. 9) Paid into Bank account Rs. 2500. 10) Withdraw
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Manilalectric Company and Subsidiaries Statement of Financial Position As of Dec.31‚2013 Common Size % 2013 2012 2011 ASSETS Noncurrent Assets Utility plant and others Investment in associates and joint ventures Investment properties Deferred tax assets- net Other noncurrent assets- net 42.65 5.08 0.58 2.04 8.94 50.40 0.84 0.75 1.41 4.07 49.98 0.4 0.78 0.34 3.12 Total noncurrent Assets 59.59 57.47 54.63 Current Assets Cash and cash equivalents
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Price Waterhouse & Co. in America. De Ste Croix‚ G. E. M. 1956. Greek and Roman accounting. In Studies in the History of Accounting‚ edited by A. C. Littleton‚ and B. S. Yamey. Homewood‚ IL: Richard D. Irwin Inc. DuBois‚ A. B. 1938. The English business company after the Bubble Act 1720-1800. The Commonwealth Fund. Ely‚ K. and G. Waymire. 1999. Intangible assets and equity valuation in the pre-SEC era. Unpublished working paper‚ University of Iowa. Fabricant‚ S. 1936. Revaluations of fixed assets
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difficult to account for. Goodwill today constitutes a much larger part of acquisition prices than it did previously‚ resulting in a much greater impact on financial statements. During the twentieth century the concept of goodwill has changed significantly. In the earlier days goodwill was thought of as the good and valuable relationships of a proprietor of a business with his customers. The present concept is broader in that it encompasses many more intangible economic factors of a business enterprise
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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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Chapter 11 balance sheet hedge. Reducing foreign exchange (FX) exposure by varying the mix of a firm’s foreign currency assets and liabilities. Economic exposure. The effect of FX rate changes on a firm’s future costs and revenues. Exposure management. Structuring a company’s affairs to minimize the adverse effects of exchange rate changes on earnings. net exposed asset position. An excess of exposed assets over exposed liabilities (also called a positive exposure). net exposed liability position
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