ChaNoel A. Torres Acevedo Intermediate Accounting I Homework: Exercise 3-1: Apr. | 2 | Cash | 30‚000 | | | | Equipment | 14‚000 | | | | Christine Ewing‚ Capital | | 44‚000 | | | | | | | 2 | No entry—not a transaction. | | | | | | | | | 3 | Supplies | 700 | | | | Accounts Payable | | 700 | | | | | | | 7 | Rent Expense | 600 | | | | Cash | | 600 | | | | | | | 11 | Accounts Receivable
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1. Current Ratio = Current Assets / Current Liabilities Edison = 12‚800 / 3‚600 = 3.56 Stagg = 13‚800 / 3‚600 = 3.83 Thornton = 13‚800 / 3‚600 = 3.83 Quick Ratio = Quick Assets / Current Liabilities Edison = 11‚000 / 3‚600 = 3.05:1 Stagg = 10‚000 / 3‚600 = 2.78:1 Thornton
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Ref http://www.planware.org/workingcapital.htm http://www.investopedia.com/exam-guide/cfa-level-1/financial-statements/balance-sheet-components-assets.asp#axzz2IlyBIIT7 http://www.investopedia.com/exam-guide/cfa-level-1/financial-statements/balance-sheet-components-liabilities.asp#axzz2IlyBIIT7 Morris‚ A(2009) of KPMG http://www.accountingnet.ie/in_practice/Reducing_Working_Capital_Through_Managing_Debtors_-_Part_II.php Mehar‚ A. 2001. Impacts of Equity Financing on Liquidity Position of a
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Toyota Motor Financing Activities Debt to Equity (Total Liabilities / Total Equity) [pic] This ratio measures the financial leverage of a company by indicating what proportion of debt and equity a company is using to finance its assets. A lower number suggests there is both a lower risk involved for creditors and strong‚ long-term‚ financial security for a company. Based on the debt ratio of Toyota‚ as of 2009‚ the debt ratio is much higher than of other financial year. The year to year
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------------------------------------------------- $10‚688 | ------------------------------------------------- $9‚870 | | | | Liabilities and Stockholders’ Equity | | | Current liabilities | $2‚584 | $2‚612 | Long-term liabilities | 1‚079 | 973 | Stockholders’ equity | ------------------------------------------------- 7‚025 | ------------------------------------------------- 6‚285 | Total liabilities and stockholders’ equity | ------------------------------------------------- $10‚688 | -------------------------------------------------
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$1‚952‚580 Company A Tropical Wave Corporation Partial Balance Sheet 31-Dec Current Assets: Current Liabilities: Cash $512‚863 Accounts Payable $250‚000 Accounts Receivable‚ net 734580 Long-term Liabilities: Water Sports Equipment Inventory 620‚000 Bonds Payable 450‚000 Lotion Inventory 560000 Other 100‚000 Other 8‚825 Total Liabilities $800‚000 Total Current Assets
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Secured Loans | 5‚368.76 | 5‚039.91 | 4‚842.43 | 2‚622.52 | 592.38 | 716.71 | Unsecured Loans | 3‚350.26 | 1‚986.31 | 3‚080.17 | 3‚043.04 | 342.00 | 200.00 | Total Debt | 8‚719.02 | 7‚026.22 | 7‚922.60 | 5‚665.56 | 934.38 | 916.71 | Total Liabilities | 3‚636.62 | 4‚075.03 | 4‚044.65 | 3‚532.10 | 1‚123.16 | 1‚290.39 | APPLICATION OF FUNDS : | | | | | | | Gross Block | 2‚238.72 | 2‚254.26 | 2‚048.13 | 1‚891.80 | 322.33 | 340.77 | Less : Accumulated Depreciation | 795.69 | 682
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information for operating alternatives‚ projection of income of a new range of products‚ and forecasts of cash required for planning purposes. A. An inland revenue officer B. A labor union leader C. A tax agent D. A company’s manager 5. If the liabilities of a business decreased by RM3‚000 during a period of time and the owner’s equity in the business decreased by RM20‚000 during the same period‚ the assets of the business must have: A. decreased by RM17‚000 B. decreased by RM23‚000 C.
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100 100 100 100 100 100 100 100 100 100 100 100 Liabilities & Equity Accounts Payable 9.8 2.2 7.4 9.1 38.3 18 35.1 22.6 6.7 8.5 8.4 8.5 18 17.9 1.4 4.8 Debt in Current Liabilities 0.5 9.1 0 0 0 0 0.1 0 1.5 0 3.5 5.6 6.5 1.6 0.8 14.9 Income Taxes Payable 2.8 1.6 0.9 1.7 0 0 0 0 0 1.2 0.9 1 1.1 0.9 0.3 nmf Current Liabilities - Other 13 8.5 3.8 13.7 22.6 15.3 14.7 17.6 6.1 7.1 19.5 14.4 10.1 5.1 5.1 8.7 Current Liabilities - Total 26.1 21.4 12.2 24.4 60.9 33.3 49.9 40.2 14
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disbursements are recorded during the test month. Checks are not recorded more than once and checks are not omitted (accuracy‚ occurrence and completeness). 6. To determine that all receiving reports were eventually entered into the system a liabilities (completeness). To determine that acquisitions were recorded at the proper amounts‚ considering the goods received (accuracy). 7. To determine that the amount recorded is accurate‚ that the classification is proper‚ and that the acquisition
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