entity? Does the report state the basis of accounting used for the General Fund? What types of assets are included on the govern- mental funds balance sheet? Do current and noncurrent assets appear on the balance sheet? Do current and noncurrent liabilities appear on the balance sheet? Is this reporting consistent with the basis of accounting being followed? c. Other Governmental Fund Types. List the names of governmental funds other than the General Fund that are included as major funds in the
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available information. Assume that the accumulated depreciation balance for the buildings is $160‚000 and for the office equipment‚ $105‚000. The allowance for doubtful accounts has a balance of $17‚000. The pension obligation is considered a long-term liability. Uhura CompanyBalance Sheet31-Dec-07AssetsCurrent assetsCash $230‚000Trading securities—at fair value $120‚000Accounts receivable $357‚000Less: Allowance for doubtfulaccounts $17‚000 $340‚000Inventories‚ at lower of averagecost or market $401‚000Prepaid
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Complete Problem 4-8A. P4-8A Dana La Fontsee opened Pro Window Washing Inc. on July 1‚ 2012. During July the following transactions were comple July 1 Issued 12‚000 shares of common stock for $12‚000 cash. 1 Purchased used truck for $8‚000‚ paying $2‚000 cash and the balance on account. 3 Purchased cleaning supplies for $900 on account. 5 Paid $1‚800 cash on 1-year insurance policy effective July 1. 12 Billed customers $3‚700 for cleaning services. 18 Paid $1‚000 cash on amount owed
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OWNERS Israel Sam H. Buat Michael Sam H. Buat Mark Anthony M. Catulong Charmaine Rose D. Merka High-Cut Barbershop Corner Sacred Heart Avenue – Cabrillos Street Digos City‚ 8002 I. Table of Contents I. Table of Contents ………………………………………………………………….2 II. Executive Summary ……………………………………………………………….4 III. General Company Description ……………………………………………………5 Mission Statement Goal Objectives Business Philosophy IV. Products and Services …………………………………………………………….8 Services Service Description Competitive
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------------------------------------------------- ------------------------------------------------- PROFITABILITY RATIO ANALYSIS: Najmun Nahar Srity Return on Asset (ROA): ID.No.091-11-924 Figure: Return on Asset (ROA) Interpretation:
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to answer these questions. (a) The liabilities of Daley Company are $93‚820 and the stockholders’ equity is $255‚900. What is the amount of Daley Company’s total assets? Total assets 349‚700 add liabilities and stockholders equity =assets (b) The total assets of Laven Company are $181‚100 and its stockholders’ equity is $82‚800. What is the amount of its total liabilities? Total liabilities $ 98‚300 asset minus stockholders equity = liabilities (c) The total assets of Peterman Co
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Financial reporting (g) Financial statements (f) General-purpose assumption (b) Integrity (c ) Internal control (e) Public accounting (d) Bookkeeping (a) 2.3) Amber Company’s assets total $150‚000 and its liabilities total $85‚000. What is the amount of Amber’s retained earnings if its capital stock amounts
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ASSIGNMENT Your firm has been approached by a listed company‚ EXE Limited‚ and asked if you will accept appointment as auditors for the year ending 31 December 2014 (it is now late November 2014). EXE Ltd’s Finance Director provided you with the following statement of financial position and income statement information which included actual figures for years ending 31 December 2011 to 2013‚ with estimated figures for 2014. EXE Ltd produces gadgets. This was once a fairly profitable industry
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my Hints in parenthesis and mostly underlined for each section of the problem/assignment) 1. Basic concepts. Jean’s Marine Supply specializes in the sale of boating equipment and accessories. Identify the items that follow as an asset (A)‚ liability (L)‚ revenue (R)‚ or expense (E) from the firm’s viewpoint. (Pages 24‚ 33-34) a. The inventory of boating supplies owned by the company. b. Monthly rental charges paid for store space. c. A loan owed to Citizens Bank. d. New
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(d) Inventory turnover = . (e) Profit margin ratio = . (f) Return on common stockholders’ equity = . (g) Return on assets = . Title | Formula | 2006 | Solution | 2005 | Solution | Current Ratio | Current assetcurrent liability | 220‚00080‚000 | 2.75 | 280‚000140‚000 | 2 | Debt to total asset | long term debt+current liabiltytotal asset | 300‚000+80‚0001‚000‚000 | 0.38 | 320‚000+140‚0001‚080‚000 | 0.425 | Times interest earned | Earnings before taxes+interstInterest
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