Aardvark Company has provided the following account balances as of F.docx

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Aardvark Company has provided the following account balances as of February 28, 2017. Income and expense amounts are for the month of February 2017. Cash 16,000 Inventory 23,500 Accounts payable 5,200 Land 22,000 Accounts receivable 14,500 Note payable - current portion 7,000 Accumulated depreciation 1,200 Note payable - long-term 15,000 Additional paid-in capital 8,000 Office equipment 9,000 Common stock 1,000 Rent expense 17,000 Depreciation expense 800 Retained earnings 6,850 Income tax expense 500 Salary expense 9,500 Income tax payable 300 Salaries payable 3,000 Insurance expense 5,000 Service revenue 65,000 Interest expense 3,100 Travel expense 850 Interest payable 8,000 Unearned revenue 1,200 Although all accounts are shown with a positive balance, they have the normal debit or credit balance that accounts in their account type have (e.g. – assets have a debit balance, liabilities have a credit balance). Using the account balances, prepare an income statement. .

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Retained earnings
6,850
Income tax expense
500
Salary expense
9,500
Income tax payable
300
Salaries payable
3,000
Insurance expense
5,000
Service revenue
65,000
Interest expense
3,100
Travel expense
850
Interest payable
8,000
Unearned revenue
1,200
Although all
accounts are shown with a positive balance,
they have the normal debit or credit balance that accounts in
their account type have

(e.g.
– assets have a debit balance,
liabilities have a credit balance).
Using the account balances, prepare an income statement.

The document provides an overview of accounting concepts including: - Accounting involves identifying, recording, and communicating economic events through activities like recording transactions, classifying data, and preparing reports. - Generally Accepted Accounting Principles (GAAP) are the standard framework and guidelines followed for financial accounting. - The Sarbanes-Oxley Act established requirements for public company management and accounting to ensure accurate financial reporting. - The basic accounting equation shows that assets must equal liabilities plus owner's equity.

Quick Learn: concepts accrual accounting and cash flow

Eddie Zhong

The document provides an overview of accrual accounting concepts and cash flow statements. It includes examples of accrued income and expenses. It also works through the preparation of an income statement and statement of financial position based on provided transaction information. Key points covered include: 1) Accrual accounting recognizes transactions when they occur rather than when cash is received or paid. 2) Accrued income and expenses are amounts earned or incurred in one period but recorded in another. 3) A cash flow statement records cash inflows and outflows and is separated into operating, investing, and financing activities. 4) Reconciling net income to cash flow from operating activities accounts for non-cash items and changes

ASI reported the following accounts and amounts in millions in its fin.docx

bickerstaffinell

ASI reported the following accounts and amounts in millions in its financial statments for the year ended November 30, 2013. Prepare the current assets section of its balance sheet. The allowance for Doubtful Accounts relates entirely to accounts receivable. Accounts payable $720 Accounts receivable 610 Accumulated Depreciation 790 Allowance for doubtful accounts 10 Cash and Cash Equivalent 830 Equipment 4,955 Income Taxes Payable 10 Notes Payable (long Term) 1500 Notes Payable (short term) 15 Notes Receivable (long term) 210 Prepaid Rent 270 Retained Earnings 6,930 Service Revenue 450 Short Term Investments 2,340 Software 605 Unearned Revenue 780 Solution Current Assets : .

GRADE CONTROLLED TEST

Phakamani Ntshangse

This document provides information for a grade 10 accounting test, including: - Three compulsory questions on concepts, financial statements, and notes to financial statements. - A pre-adjustment trial balance and additional information for Zozo Traders to prepare an income statement. - Extracts from a post-closing trial balance and additional information to prepare notes to the financial statements for Nicol Traders.

#ACCIONA9M17 results report

acciona

- ACCIONA reported EBITDA of €907 million for the first nine months of 2017, an increase of 7.9% compared to the same period in 2016, driven by higher contributions from the Infrastructure division. - Revenues increased 23.3% to €5.33 billion due to growth across business divisions. However, net profit decreased 33.3% to €232 million due to lower contributions from the Energy division and Other Activities. - Net debt increased 11% to €5.695 billion as a result of capital expenditures, working capital needs, and dividend payments during the period. The company continues its divestment strategy, recently announcing agreements to sell its shipping subsidiary Trasmediterr

B PROBLEMSP23-1B (L02,4) (SCF—Indirect Method) The followi.docx

jasoninnes20

B PROBLEMS P23-1B (L02,4) (SCF—Indirect Method) The following are Sanibel Corp.’s comparative balance sheet accounts at Decem- ber 31, 2017 and 2016, with a column showing the increase (decrease) from 2016 to 2017. Additional information: 1. On December 31, 2016, Sanibel acquired 25% of Island Co.’s common stock for $420,000. On that date, the carrying value of Island’s assets and liabilities, which approximated their fair values, was $1,680,000. Island reported income of $220,000 for the year ended December 31, 2017. No dividend was paid on Island’s common stock during the year. 2. During 2016, Sanibel loaned $500,000 to POI Co., an unrelated company. POI made the first semi-annual principal repay- ment of $50,000, plus interest at 10%, on December 31, 2016. POI is current on the loan as of December 31, 2017. 3. On January 2, 2017, Sanibel sold equipment costing $100,000, with a carrying amount of $31,000, for $20,000 cash. 4. On December 31, 2017, Sanibel entered into a capital lease for a new factory. The present value of the annual rental payments is $850,000, which equals the fair value of the building. Sanibel made the first rental payment of $120,000 when due on January 2, 2018. 5. Net income for 2017 was $285,000. 6. Sanibel declared and paid cash dividends for 2017 and 2016 as follows. Instructions Prepare a statement of cash flows for Sanibel Corp. for the year ended December 31, 2017, using the indirect method. (AICPA adapted) 1 COMPARATIVE BALANCE SHEETS Increase 2017 2016 (Decrease) Cash $ 650,000 $ 510,000 $ 140,000 Accounts receivable 1,260,000 1,090,000 170,000 Inventory 1,538,000 1,370,000 168,000 Property, plant, and equipment 2,680,000 1,763,000 917,000 Accumulated depreciation (850,000) (760,000) (90,000) Investment in Island Co. 475,000 420,000 55,000 Loan receivable 350,000 450,000 (100,000) Total assets $6,103,000 $4,843,000 $1,260,000 Accounts payable $1,080,000 $ 910,000 $ 170,000 Income taxes payable 90,000 75,000 15,000 Dividends payable 100,000 60,000 40,000 Capital lease obligation 850,000 0 850,000 Common stock, $1 par 400,000 400,000 0 Paid-in capital in excess of 2,100,000 2,100,000 0 par—common stock Retained earnings 1,483,000 1,298,000 185,000 Total liabilities and stockholders’ equity $6,103,000 $4,843,000 $1,260,000 2017 2016 Declared December 15, 2017 December 15, 2016 Paid February 28, 2018 February 28, 2017 Amount $100,000 $60,000 c23_Kieso_IA_16e_PB.indd Page 1 12/07/16 9:00 AM f-389 c23_Kieso_IA_16e_PB.indd Page 1 12/07/16 9:00 AM f-389 /208/WB01908/XXXXXXXXXXXXX/ch23/text_s/208/WB01908/XXXXXXXXXXXXX/ch23/text_s 2 Chapter 23 Statement of Cash Flows P23-2B (L02,4) (SCF—Indirect Method) The comparative balance sheets for Queen Corporation show the following information. Additional data related to 2017 are as follows. 1. Equipment that had cost $20,000 and was 60% depreciated at time of disposal was sold for $2,000. 2. $18,000 of th ...

9706_w17_qp_21.pdf

BensonGama

This document consists of an accounting case study with multiple questions testing various accounting concepts and calculations. It includes: 1. Preparing an inventory valuation statement and income statement for a sole proprietor. 2. Calculating depreciation and the effect on profit of asset transactions for a limited company. 3. Explaining differences between share types and issues, and recording share capital transactions. 4. Calculating overhead absorption rates and product costs using a batch costing system. 5. Preparing quotes, calculating break-even, and advising on factory closure for a manufacturing business.

ch17.pdf

rabieharoun1

This document provides a series of exercises related to preparing statements of cash flows using both the direct and indirect methods. It includes instructions for journal entries, reconciling net income to cash flows from operating activities, and computing free cash flow. The exercises provide comparative balance sheet information, income statement details, and additional transaction details to prepare various sections of the statement of cash flows.

This document provides a series of exercises related to preparing statements of cash flows using both the direct and indirect methods. It includes instructions for journal entries, reconciling net income to cash flows from operating activities, and computing free cash flow. The exercises provide comparative balance sheet information, income statement details, and additional transaction details to calculate cash flow amounts and complete statements of cash flows.

Accounting 970643 paper 4 problem solving (supplementary topics) october nove...

alproelearning

Accounting cycle by Baqir Siddique

Baqirsiddique

The accounting cycle involves a series of steps to record business transactions and prepare financial statements. The steps include: 1) identifying and recording transactions in a general journal, 2) posting transactions to ledger accounts, 3) preparing an unadjusted trial balance, 4) making adjusting entries for accruals, prepayments, and depreciation, 5) preparing an adjusted trial balance, 6) making closing entries to clear revenue and expense accounts, 7) preparing a post-closing trial balance, and 8) using the adjusted accounts to prepare financial statements such as an income statement and balance sheet. The accounting cycle ensures transactions are properly recorded and financial statements accurately reflect the company's performance and financial position.

Nordic Company, a merchandising company, prepares its master budge.docx

henrymartin15260

Nordic Company, a merchandising company, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparation of the master budget for the second quarter. a. As of March 31 (the end of the prior quarter), the company’s balance sheet showed the following account balances: Cash $ 9,000 Accounts receivable 48,000 Inventory 12,600 Buildings and equipment (net) 214,100 Accounts payable $ 18,300 Capital stock 190,000 Retained earnings 75,400 $ 283,700 $ 283,700 b. Actual sales for March and budgeted sales for April–July are as follows: March (actual) $60,000 April $70,000 May $85,000 June $90,000 July $50,000 c. Sales are 20% for cash and 80% on credit. All payments on credit sales are collected in the month following the sale. The accounts receivable at March 31 are a result of March credit sales. d. The company’s gross margin percentage is 40% of sales. (In other words, cost of goods sold is 60% of sales.) e. Monthly selling and administrative expenses are budgeted as follows: salaries and wages, $7,500 per month; shipping, 6% of sales; advertising, $6,000 per month; other expenses, 4% of sales. Depreciation, including depreciation on new assets acquired during the quarter, will be $6,000 for the quarter. f. Each month’s ending inventory should equal 30% of the following month’s cost of goods sold. g. Half of a month’s inventory purchases are paid for in the month of purchase and half in the following month. h. Equipment purchases during the quarter will be as follows: April, $11,500; and May, $3,000. i. Dividends totaling $3,500 will be declared and paid in June. j. Management wants to maintain a minimum cash balance of $8,000. The company has an agreement with a local bank that allows the company to borrow in increments of $1,000 at the beginning of each month, up to a total loan balance of $20,000. The interest rate on these loans is 1% per month, and for simplicity, we will assume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter. Required: Using the data above, complete the following statements and schedules for the second quarter: 1. Schedule of expected cash collections: (Omit the "$" sign in your response.) Schedule of expected cash collections April May June Total Cash sales $ 14,000 $ $ $ Credit sales 48,000 Total collections $ 62,000 $ $ $ 2a. Merchandise purchases budget. (Input all amounts as positive values. Omit the "$" sign in your response.) Merchandise purchases budget April May June Total Budgeted cost of goods sold $ 42,000 * $ 51,000 $ $ : desired ending inventory 15,300 † Total needs 57,300 : beginning inventory 12,600 Required purchases $ 44,700 $ $ $ .

EDWARDS ELECT.docx

gidmanmary

1) Edward's Electrical Goods records transactions for June 2017, including sales, purchases, cash receipts and payments. Adjusting entries are made for depreciation, prepaid expenses, inventory count, bad debts and accrued expenses. 2) Financial statements are prepared from the adjusted trial balance, including an income statement, statement of changes in equity, and balance sheet. 3) Subsidiary ledgers for accounts receivable and payable are completed and balances agree to control accounts. Closing entries are made and a post-closing trial balance is prepared.

Financial accounting basics ppt @ bec-doms

Babasab Patil

The document discusses the accounting cycle process which involves analyzing transactions, recording journal entries, preparing adjusting entries, and generating financial statements on a monthly, quarterly, or annual basis. It provides an example for ABC Company for the month of January, showing the steps of preparing journal entries, a trial balance, income statement, retained earnings statement, and closing revenue and expense accounts. It also discusses how to prepare a post-closing trial balance, balance sheet, and statement of cash flows to complete the accounting cycle.

City of Athens Fiscal Year 2017 Proposed Budget

Michael V. Hannigan

The proposed annual operating budget for fiscal year 2017 for the City of Athens, Texas includes: maintaining a financial reserve equal to 60 days of operating expenses or $1,790,434; adding up to 6 new police officers and accompanying equipment; upgrading the emergency warning system with $200,000; improving two parks; implementing a new equipment replacement program; and addressing over 30 wastewater violations from the state with capital improvements. The proposed property tax rate of 0.685221 would raise taxes 5.3% over last year's budget.

Chapter 11(cash flow budgeting)

Rione Drevale

A cash flow budget summarizes projected cash inflows and outflows over a period of time, usually a future accounting period divided into months or quarters. It estimates future borrowing needs and ability to repay loans. The document discusses constructing a cash flow budget, provides an example, and explains how it can be used for planning, monitoring cash flows, and analyzing investment feasibility.

1) Reen Lawns, Inc., performs adjusting entries every month, but c.docx

dorishigh

1) Reen Lawns, Inc., performs adjusting entries every month, but closes its accounts only at year-end. The company’s year-end adjusted trial balance dated December 31, 2015, was: GREEN LAWNS, INC. Adjusted Trial Balance December 31, 2015 Cash $ 182,200 Accounts receivable 9,000 Supplies 600 Equipment 24,000 Accumulated depreciation: equipment $ 10,000 Accounts payable 3,000 Income taxes payable 7,000 Capital stock 50,000 Retained earnings 90,000 Dividends 4,000 Lawn care revenue earned 192,000 Salary expense 104,000 Supply expense 2,400 Advertising expense 600 Depreciation expense: equipment 2,000 Income taxes expense 23,600 $ 352,000 $ 352,000 a-1. Prepare an income statement for the year ended December 31, 2015. a-2. Prepare a statement of retained earnings for the year ended December 31, 2015. a-3. Prepare the company's balance sheet dated December 31, 2015. (Amounts to be deducted should be indicated by a minus sign.) b. Does the company appear to be liquid? No Yes c. Has the company been profitable in the past? No Yes 2) Reen Lawns, Inc., performs adjusting entries every month, but closes its accounts only at year-end. The company’s year-end adjusted trial balance dated December 31, 2015, was: GREEN LAWNS, INC. Adjusted Trial Balance December 31, 2015 Cash $ 182,200 Accounts receivable 9,000 Supplies 600 Equipment 24,000 Accumulated depreciation: equipment $ 10,000 Accounts payable 3,000 Income taxes payable 7,000 Capital stock 50,000 Retained earnings 90,000 Dividends 4,000 Lawn care revenue earned 192,000 Salary expense 104,000 Supply expense 2,400 Advertising expense 600 Depreciation expense: equipment 2,000 Income taxes expense 23,200 $ 352,000 $ 352,000 a. Prepare all necessary closing entries at December 31, 2015. 1. Record the entry to close Lawn Care Revenue earned to income summary 2. REcord the entry to close all expense accounts to income summary 3. Record the entry to transfer net income earned in 2015 to retained earnings account 4. Record the entry to close dividends declared in 2015 to retained earnings account. Prepare an after-closing trial balance dated December 31, 2015. · Record the entry to close all expense accounts to income summary. · Record the entry to close all expense accounts to income summary. 3) Cat Fancy, Inc., has provided the following information from its most current financial statements: Total revenue $ 125,000 Total expenses 80,000 Total current assets 32,000 Total current liabilities 8,000 Total stockholders' equity, January 1, 2015 74,000 Total stockholders' equity, December 31, 2015 76,000 Compute the company’s net income per ...

Kelly consultingKelly ConsultingPost-closing Trial Balance 30-Apr-.docx

DIPESH30

Kelly consultingKelly ConsultingPost-closing Trial Balance 30-Apr-08Account TitleDebitCreditCash22,100Accounts Receivables3400Supplies1350Prepaid Rent3200prepaid insurance1500Office Equipment14500Accumulated Depreciation330Accounts payable800salary payable120Kelly Capital44800$46,050$46,050.00Kelly ConsultingGeneral JournalMay, 20081-May2-May3-May4-May5-May6-May7-May8-May9-May10-May11-May12-MayAccounts ReceivableSupplies#2Post to "T" accounts below34001350Cash22,100Prepaid InsuranceOffice Equipment150014,500Prepaid Rent3200Accounts PayableSalaries Payable800120Accumulated Depreciation330CapitalFees earned44,800Unearned FeesSalary ExpenseElectric ExpenseAdvertising Expense q2 adjsting entries Woods Journalize the following adjusting entries for Woods corporation as of December 31, 2014 (Assume that adjustments are made on a monthly basis)Woods Inc.Unadjusted Trial BalanceNovember 30, 2014Account DebitCreditCash18,570Accounts Receivable11,900Supplies1,820Prepaid rent750Equipment12,000Accumulated depreciation1100Accounts Payable1050Unearned Fees2800Capital Stock10000Retained earnings27800Dividends1,400Fees earned51450Wages Expense28210qRent expense2,250Utilities expense16040 Miscellaneous Expenses1260Total94,20094,200A) The equipment was purchased on January 1 of this year with an expected life of 10 years. There is no salvage value. Use the straight line methodB) The amount of supplies on hand as of December 31 is $1000.00C) Fees earned and unbilled $ 1,200D) Additional fees earned ( collected in prior periods) $ 800.00 E)Wages incurred and not paid $ 700F) Rent was prepaid on February 1 of this year for one yearAccount TitleDebitCreditABCDEF Q 3 M & D M&D IncAdjusted Trial Balance12/31/14Income StatementBalance SheetAccount DebitCreditDebitCreditDebitCreditCash15200Accounts Receivable200Supplies1000Prepaid insurance550Equipment5000Accumulated depreciation40Notes Payable5000Accounts Payable2500Unearned Service revenue800Salaries & wages payable1200Interest payable50Owner's capital10000Owner's drawing500Service revenue10600Salaries & wages expense5200Supplies expenses1500Rent expense900Insurance expense50Interest expense50Depreciation expense40$30, 190$30, 190Complete the income statement and balance sheets columns of the worksheet. Harvest Financial statementsUse the following information to complete the income statement and the balance sheetHarvest incorporatedHarvest incorporatedHarvest IncorporatedAdjusted Trial BalanceBalance SheetIncome Statement31-Dec-14 As of December 31, 2014For the year ended December 31, 2014AssetsRevenuesAccount DebitCredit$Cash$6,700Current AssetsExpensesAccounts Receivable600$$Supplies1,000Prepaid rent900Equipment15,000Accumulated depreciation850Notes Payable5,000Accounts Payable1,510Unearned rent revenue500 Total current assetsSalaries & wages payable400Total expenses$Interest payable50Property, plant and equipmentNet income (loss)$Owner's capital14,000$Owner's d ...

ACCIONA Results Report 2017

acciona

The document provides an executive summary and details of ACCIONA's FY 2017 results. Key highlights include revenues increasing 21.4% to €7,254 million and EBITDA growing 7% to €1,275 million driven by higher contributions from Infrastructure. Net debt increased slightly to €5,224 million. Gross capital expenditures were €920 million, focused on Energy and Infrastructure. M&A activity included agreements to sell Trasmediterránea and contribute real estate assets to Testa Residencial.

Develop a statement of operations for 2017 using Tables II, IV-A, IV.pdf

sumyad25

Develop a statement of operations for 2017 using Tables II, IV-A, IV-B, and IV-C [at the end of this case study] and a balance sheet for 2017 (you can assume the format and numbers are correct on the 2016 balance sheet in Table I, and you can further assume that all balances on the 2016 balance sheet carry forward to the 2017 balance sheet with the exception of accounting for the profit or loss from the 2017 statement of operations). Analyze the financial statements using ratio analysis with benchmarks found in Table III and identify strengths and weaknesses and then make recommendations for improvement in 2018. Wages, Taxes, Benefits ( 90% variable, 10% fixed) $76,725,792 Professional Fees and Commissions (fixed) Drugs (variable) Medical and Other Supplies (variable) Food (variable) Purchased Services (variable) Repairs and Maintenance (fixed) Utilities (fuxed) Interest (fixed) Depreciation (fixed) TOTAL EXPENSES $142,247,232LOS= length of stay; SNF = skilled nursing facility TABLE IV-C 2017 Charges per Discharge/Visit (\$) Assets 2016 Current Assets Cash and cash equivalents $816,875 Marketable securities 8,100,500 Accounts receivable less allowances 17,250,000 Inventories at cost Other current assets Total Current Assets 2,368,0008,992,50037,527,875 Land and improvements 11,250,000 Buildings 50,509,500 Fixed equipment 5,063,250 Movable equipment Property, Plant, and Equipment Less accumulated depreciation Total Property, Plant, and Equipment TOTAL ASSETS Current Liabilities Current portion of long-term debt $10,151,000 Accounts payable and accrued expenses 8,400,000 Estimated amounts due to third-party payers 8,423,750 Other current liabilities Total Current Liabilities Long-term debt, net of current portion TOTAL LIABILITIES TOTAL LIABILITES 10,500,00037,474,75025,000,00062,474.750 Net Assets Unrestricted Temporarily restricted Permanently restricted TOTAL NET ASSETS TOTAL LIABILITIES AND NET ASSETS $90,441,144 tOptum number is adjusted for acute discharge equiralents. tSee Health Forum (2e15) for nursing personnel data adjusted for Bureau of Labor Statiatics (2ery). Hays County IDS Actual Expenses (\$) through December 31, 2017 TABLE III Selected Industry Financial and Productivity Ratios for Urban Hospital (\$175-4oo million revenue).

SOS Please please please help on this problem!!!!!!!!!!!!!!!!!!!!!! .pdf

FOREVERPRODUCTCHD

SOS Please please please help on this problem!!!!!!!!!!!!!!!!!!!!!! :) Closing Entries and the Postclosing Trial Balance 192 CHAPTER 6 Mini-Practice Set 1 Service Business Accounting Cycle Eli\'s Consulting Services ing principles and This project will give you an opportunity to apply your knowledge of accounting principles and procedures by handling all the accounting work of Eli\'s Consulting Services for the month o January 2020. Assume that you are the chief accountant for Eli\'s Consulting Services, During January, the busi ness will use the same types of records and procedures that you learned about in Chapters 1 through 6. The chart of accounts for Eli\'s Consulting Services has been expanded to include a few new accounts. Follow the instructions to complete the accounting records for the month of January. INTRODUCTION Eli\'s Consulting Services Chart of Accounts Revenue 401 Fees Income Assets 101 Cash 111 Accounts Receivable 121 Supplies 134 Prepaid Insurance 137 Prepaid Rent 141 Equipment 142 Accumulated Depreciation Equipment Liabilities 202 Accounts Payable Expenses 511 Salaries Expense 514 Utilities Expense 517 Supplies Expense 520 Rent Expense 523 Depreciation Expense-Equipment 526 Advertising Expense 529 Maintenance Expense 532 Telephone Expense 535 Insurance Expense Owner\'s Equity 301 Trayton Eli, Capital 302 Trayton Eli, Drawing 309 Income Summary INSTRUCTIONS 1. Open the general ledger accounts and enter the balances for January 1, 2020. Obtain the necessary figures from the postclosing trial balance prepared on December 31, 2019, which appears in Figure 6.3. 2. Analyze each transaction and record it in the general journal. Use page 3 to begin January\'s transactions. 3. Post the transactions to the general ledger accounts. 4. Prepare the Trial Balance section of the worksheet. 5. Prepare the Adjustments section of the worksheet. a. Compute and record the adjustment for supplies used during the month. An inventory taken on January 31 showed supplies of $5,200 on hand. b. Compute and record the adjustment for expired insurance for the month. c. Record the adjustment for one month of expired rent of $4,000. d. Record the adjustment for depreciation of $183 on the old equipment for the month. The first adjustment for depreciation for the new equipment will be recorded in February, 6. Complete the worksheet. 7. Prepare an income statement for the month. 8. Prepare a statement of owner\'s equity. Solution Journal Entries Date Account Title Debit Credit 2-Jan Supplies 7000 Cash 7000 7-Jan Cash 20000 Accounts receivable 5000 Fees Income 25000 2-Jan Insurance expense 8400 Cash 8400 12-Jan Cash 4000 Accounts receivable 4000 Advertising expense 3600 Cash 3600 Cash 20700 Accounts receivable 2300 Fees Income 23000 13-Jan Cash 4500 Accounts receivable 4500 14-Jan Cash 750 Supplies 750 20-Jan Supplies 5000 Accounts Payable 5000 20-Jan Cash 12500 Accounts receivable 3500 Fees Income 16000 20-Jan Cash 5600 Accounts receivable 5600 21-Jan Ma.

ACCIONA H1 2017 Results

acciona

The document reports the financial results of a company for the first half of 2017 compared to the same period in 2016. It summarizes that revenues and EBITDA increased by 22.6% and 10.4% respectively, driven by higher performance in the infrastructure division. However, net profit decreased sharply by 86.6% due to lower non-recurring gains from asset sales. Total assets increased slightly while net debt rose by 8.6%, reflecting higher working capital and capital expenditures during the period.

The adjusted trial balance for Tybalt Construction as of December 31.pdf

4babies2010

The accounting records for Eisner Manufacturing Company included the following cost information relating to its first year of operations: Direct materials Direct labor Fixed manufacturing overhead Variable manufacturing overhead $ 60,000 $ 80,000 100,000 $ 20,000 Assume the company produced 10,000 units of inventory and sold 6,000 of these units for $192,000. What amount of finished goods will be reported on the balance sheet at the end of the year under absorption costing? Under variable costing? A. $104,000, $64,000 B. $64,000, $104,000 C. $130,667, $64,000 D. $64,000, $130,667 Solution Calculate unit product cost and finished goods : So answer is a) $104000 ; $64000AbsorptionvariableDirect material66Direct labour88Variable manufacturing overhead22Fixed manufacturing overhead100Unit product cost2616Finished goods inventory40004000Finished goods inventory cost10400064000.

Pert.1 Gambaran-umum (2).ppt

SafrianidarSafrianid

This chapter provides an overview of accounting. It defines accounting as a service activity that presents quantitative financial information about an economic entity to support economic decision making. It discusses the users of accounting information, the divisions of accounting, types of businesses, the accounting equation, and basic accounting concepts. It also provides examples of business transactions and the corresponding journal entries. Finally, it discusses the key financial statements - the income statement, statement of owner's equity, balance sheet, statement of cash flows, and notes - and how they are prepared from the accounting records and used for financial analysis.

Introduction to Financial statements - Accounting

FaHaD .H. NooR

Based on information Journal Entries below can someone provide me wi.pdf

parwaniajay

Based on information Journal Entries below can someone provide me with the closing entries, the 2015 Balance Sheet and a 2015 Statement of Revenues, Expenditures, and Changes in Fund balance. Note: Outstanding encumbrances at year end are classified as Assigned Fund Balance and all remaining net resources are classified as Unassigned Fund Balance.Journal EntryReferenceAccount TitlesDebitsCreditsa)Estimated Revenues Control11,250,000Appropriations Control9,300,000Estimated Other Financing Uses Control - Tranfers Out1,700,000Budgetary Fund Balance250,0001)Encumbrances Control (Prior Year)17,000Budgetary Fund Balance - Reserve for Encumbrances17,0002)Deferred Inflows - Property Taxes21,000Revenues Control21,0003)Taxes Receivable - Current6,800,000Estimated Uncollectible Current Taxes136,000Revenues Control6,664,0004)Cash500,000Tax Anticipation Notes Payable500,0005)Budgetary Fund Balance - Reserve for Encumbrances17,000Encumbrances Control17,000Expenditures Control16,600Accounts Payable16,6006)Accounts Payable115,600Due to Other Funds27,000Cash142,6007)Cash10,811,500Interest and penalties receivable3,500Taxes Receivable – Current6,400,000Due from State210,000Revenues from licenses and permits800,000Sales Tax Receivable - current2,890,000Misc Revenues350,000Taxes Receivable –158,0008)Encumbrances3,465,000Fund Balance Reserved for Encumbrances3,465,0009)Expenditures5,070,000Federal Income Tax Withheld498,000FICA Contribution357,000Cash4,215,00010)Due to Federal Government385,000FICA Contribution (City\'s Part)357,000State unemployment taxes28,00011)Fund Balance Reserved for Encumbrances3,375,300Expenditures3,375,300Encumbrances3,375,300Accounts Payable3,375,30012)Tax Anticipation Notes Payable500,000Expenditure18,000Cash518,00013)Estimated Fund332,000Unreserved fund balance332,00014)Expenditures350,200Water and Sewer37,000Stores and Services Fund313,200Stores and Services Fund310,000Cash310,00015)Sales Tax Receivable52,000Revenue52,00016)Accounts Contract Payable3,015,000Cash3,015,000Federal Income Tax Withheld498,000FICA Contribution357,000FICA Contribution (City\'s Part)357,000State unemployment taxes28,000Cash1,240,00017)Estimated Revenue73,000Fund for Appropriations (Budgetary Fund)139,000Appropriations212,00018)Property Taxes Receivable- Delinquent51,000Interest and penalties receivable on taxes - Delinquent1,600Property Tax Receivable51,000Interest and penalties receivable on taxes1,60019)Interest and penalties receivable on taxes17,200Estimated Uncollectable Taxes1,100Revenue16,10020)Deferred Revenue (Estimated Revenue)27,500Tax Receivable Solution.

Acc week 3

Shu Shin

1. The document discusses key accounting concepts like the accounting equation, double-entry recording, T-accounts, debit and credit rules for different types of accounts. 2. It provides examples of recording business transactions like starting a business, purchases, expenses, revenues using T-accounts and following the double-entry system. 3. Special accounts like returns inwards, returns outwards are discussed which are used to record returns of goods from customers or suppliers.

| Financial Statements | Basic Financial Statements | Types of Financial Stat...

Ahmad Hassan

Learning Objective 1: To explain the nature and general purpose of financial statements. Learning Objective 2: To explain certain accounting principles that are important for an understanding of financial statements and how professional judgment by accountants may affect the application of those principles. Learning Objective 3: To demonstrate how certain business transactions affect the elements of the accounting equation: Assets = Liabilities + Owners’ Equity. Learning Objective 4: To explain how the statement of financial position, often referred to as the balance sheet, is an expansion of the basic accounting equation. Learning Objective 5: To explain how the income statement reports an enterprise’s financial performance for a period of time in terms of the relationship of revenues and expenses. Learning Objective 6: To explain how the statement of cash flows presents the change in cash for a period of time in terms of the company’s operating, investing, and financing activities. Learning Objective 7: To explain the important relationships among the statement of financial position, income statement, and statement of cash flows, and how these statements relate to each other. Learning Objective 8: To explain common forms of business ownership—sole proprietorship, partnership, and corporation—and demonstrate how they differ in terms of their presentation in the statement of financial position. Learning Objective 9: To discuss the importance of financial statements to a company and its investors and creditors and why management may take steps to improve the appearance of the company in its financial statements.

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