Starz Department Store is located near the Towne Shopping Mall. At the end of the company’s
calendar year on December 31, 2014, the following accounts appeared in two of its trial
balances.
Unadjusted
Adjusted
Unadjusted
Adjusted
Accounts Payable
$ 80,000
$ 97,966
Interest Revenue
4,880
4,880
Accounts Receivable
61,366
61,366
Inventory
91,500
91,500
Accumulated Depr.—Buildings
51,362
64,050
Mortgage Payable
97,600
97,600
Accumulated Depr.—Equipment
36,112
52,338
Prepaid Insurance
11,712
2,928
Buildings
353,800
353,800
Property Tax Expense
5,856
Cash
29,036
29,036
Property Taxes Payable
5,856
Common Stock
136,640
136,640
Retained Earnings
78,812
78,812
Cost of Goods Sold
503,494
503,494
Salaries and Wages Expense
131,760
131,760
Depreciation Expense
28,914
Sales Revenue
883,280
883,280
Dividends
29,280
29,280
Sales Commissions Expense
12,444
17,690
Equipment
134,200
134,200
Sales Commissions Payable
5,246
Insurance Expense
8,784
Sales Returns and Allowances
9,760
9,760
Interest Expense
3,660
10,492
Utilities Expense
13,420
14,640
Interest Payable
6,832
Prepare a multiple-step income statement. (List other revenues before other expenses.)
STARZ DEPARTMENT STORE
Income Statement
For the Year Ended December 31, 2014
DividendsExpensesNet Income / (Loss)Retained Earnings , December 1, 2012Retained Earnings
, December 31, 2012Sales RevenueTotal ExpensesTotal RevenuesNet SalesGross
ProfitOperating ExpensesTotal Operating ExpensesIncome from OperationsOther Revenues and
GainsOther Expenses and Losses
$
LessAdd:
DividendsExpensesNet Income / (Loss)Retained Earnings , December 1, 2012Retained Earnings
, December 31, 2012Sales RevenueTotal ExpensesTotal RevenuesNet SalesGross
ProfitOperating ExpensesTotal Operating ExpensesIncome from OperationsOther Revenues and
GainsOther Expenses and Losses
DividendsExpensesNet Income / (Loss)Retained Earnings , December 1, 2012Retained Earnings
, December 31, 2012Sales RevenueTotal ExpensesTotal RevenuesNet SalesGross
ProfitOperating ExpensesTotal Operating ExpensesIncome from OperationsOther Revenues and
GainsOther Expenses and Losses
DividendsExpensesNet Income / (Loss)Retained Earnings , December 1, 2012Retained Earnings
, December 31, 2012Sales RevenueTotal ExpensesTotal RevenuesNet SalesGross
ProfitOperating ExpensesTotal Operating ExpensesIncome from OperationsOther Revenues and
GainsOther Expenses and Losses
$
DividendsExpensesNet Income / (Loss)Retained Earnings , December 1, 2012Retained Earnings
, December 31, 2012Sales RevenueTotal ExpensesTotal RevenuesNet SalesGross
ProfitOperating ExpensesTotal Operating ExpensesIncome from OperationsOther Revenues and
GainsOther Expenses and Losses
DividendsExpensesNet Income / (Loss)Retained Earnings , December 1, 2012Retained Earnings
, December 31, 2012Sales RevenueTotal ExpensesTotal RevenuesNet SalesGross
ProfitOperating ExpensesTotal Operating ExpensesIncome from OperationsOther Revenues and
GainsOther Expenses and Losses
DividendsExpensesNet Income / (Loss)Retai.
Problem 3-8BRIDGEPORT ADVERTISING TRIAL BALANCE DECEMBER 31, 2.pdfnaveenkumar29100
Problem 3-8
BRIDGEPORT ADVERTISING
TRIAL BALANCE
DECEMBER 31, 2017
Unadjusted
Adjusted
Dr.
Cr.
Dr.
Cr.
$148,820
$148,820
$158,950
$158,950
No.
Date
Account Titles and Explanation
Debit
Credit
(To record accrued service revenue)
(To record supplies used)
(To expired insurance)
(To record depreciation on equiment)
(To record interest accrued on the note)
(To record service revenue earned)
(To record accrued wages)
Assets
Liabilities and Stockholders’ Equity
%
Open Show Work
SAVE FOR LATER
SUBMIT ANSWER
Problem 3-8 Bridgeport Advertising was founded by Murali Vedula in January 2015. Presented
below are both the adjusted and unadjusted trial balances as of December 31, 2017.
BRIDGEPORT ADVERTISING
TRIAL BALANCE
DECEMBER 31, 2017
Unadjusted
Adjusted
Dr.
Cr.
Dr.
Cr.Cash$16,740$16,740Accounts Receivable19,17023,012Supplies9,7606,845Prepaid
Insurance4,2202,625Equipment64,70064,700Accumulated Depreciation-
Equipment$24,120$29,050Notes Payable8,6008,600Accounts Payable1,8901,890Interest
Payable0602Unearned Service Revenue5,3503,405Salaries and Wages Payable0756Common
Stock19,22019,220Retained Earnings27,24727,247Dividends19,30019,300Service
Revenue62,39368,180Salaries and Wages Expense9,40010,156Insurance Expense1,595Interest
Expense602Depreciation Expense4,930Supplies Expense2,915Rent Expense5,5305,530
$148,820
$148,820
$158,950
$158,950Journalize the annual adjusting entries that were made. (Credit account titles are
automatically indented when amount is entered. Do not indent manually. If no entry is required,
select \"No entry\" for the account titles and enter 0 for the amounts.)
No.
Date
Account Titles and Explanation
Debit
Credit1.Dec. 31
(To record accrued service revenue)2.Dec. 31
(To record supplies used)3.Dec. 31
(To expired insurance)4.Dec. 31
(To record depreciation on equiment)5.Dec. 31
(To record interest accrued on the note)6.Dec. 31
(To record service revenue earned)7.Dec. 31
(To record accrued wages)Prepare an income statement for the year ended December 31. (Enter
loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
BRIDGEPORTADVERTISING
Income Statement
December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December
31, 2017
DividendsExpensesNet Income / (Loss)Retained Earnings, Janaury 1Retained Earnings,
December 31RevenuesTotal ExpensesTotal Revenues
$
DividendsExpensesNet Income / (Loss)Retained Earnings, Janaury 1Retained Earnings,
December 31RevenuesTotal ExpensesTotal Revenues
$
Dividends Expenses Net Income / (Loss) Retained Earnings, Janaury 1 Retained
Earnings, December 31 Revenues Total Expenses Total Revenues
DividendsExpensesNet Income / (Loss)Retained Earnings, Janaury 1Retained Earnings,
December 31RevenuesTotal ExpensesTotal Revenues$
Prepare a retained earnings statement for the year ended December 31. (List items that increase
retained earnings first.)
BRIDGEPORTADVERTISING
Retained Earnings Statement
December 31, 2017For the Year Ended December 31, 2017For .
Problem 3-8BRIDGEPORT ADVERTISING TRIAL BALANCE DECEMBER 31, 2.pdfnaveenkumar29100
Problem 3-8
BRIDGEPORT ADVERTISING
TRIAL BALANCE
DECEMBER 31, 2017
Unadjusted
Adjusted
Dr.
Cr.
Dr.
Cr.
$148,820
$148,820
$158,950
$158,950
No.
Date
Account Titles and Explanation
Debit
Credit
(To record accrued service revenue)
(To record supplies used)
(To expired insurance)
(To record depreciation on equiment)
(To record interest accrued on the note)
(To record service revenue earned)
(To record accrued wages)
Assets
Liabilities and Stockholders’ Equity
%
Open Show Work
SAVE FOR LATER
SUBMIT ANSWER
Problem 3-8 Bridgeport Advertising was founded by Murali Vedula in January 2015. Presented
below are both the adjusted and unadjusted trial balances as of December 31, 2017.
BRIDGEPORT ADVERTISING
TRIAL BALANCE
DECEMBER 31, 2017
Unadjusted
Adjusted
Dr.
Cr.
Dr.
Cr.Cash$16,740$16,740Accounts Receivable19,17023,012Supplies9,7606,845Prepaid
Insurance4,2202,625Equipment64,70064,700Accumulated Depreciation-
Equipment$24,120$29,050Notes Payable8,6008,600Accounts Payable1,8901,890Interest
Payable0602Unearned Service Revenue5,3503,405Salaries and Wages Payable0756Common
Stock19,22019,220Retained Earnings27,24727,247Dividends19,30019,300Service
Revenue62,39368,180Salaries and Wages Expense9,40010,156Insurance Expense1,595Interest
Expense602Depreciation Expense4,930Supplies Expense2,915Rent Expense5,5305,530
$148,820
$148,820
$158,950
$158,950Journalize the annual adjusting entries that were made. (Credit account titles are
automatically indented when amount is entered. Do not indent manually. If no entry is required,
select \"No entry\" for the account titles and enter 0 for the amounts.)
No.
Date
Account Titles and Explanation
Debit
Credit1.Dec. 31
(To record accrued service revenue)2.Dec. 31
(To record supplies used)3.Dec. 31
(To expired insurance)4.Dec. 31
(To record depreciation on equiment)5.Dec. 31
(To record interest accrued on the note)6.Dec. 31
(To record service revenue earned)7.Dec. 31
(To record accrued wages)Prepare an income statement for the year ended December 31. (Enter
loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
BRIDGEPORTADVERTISING
Income Statement
December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December
31, 2017
DividendsExpensesNet Income / (Loss)Retained Earnings, Janaury 1Retained Earnings,
December 31RevenuesTotal ExpensesTotal Revenues
$
DividendsExpensesNet Income / (Loss)Retained Earnings, Janaury 1Retained Earnings,
December 31RevenuesTotal ExpensesTotal Revenues
$
Dividends Expenses Net Income / (Loss) Retained Earnings, Janaury 1 Retained
Earnings, December 31 Revenues Total Expenses Total Revenues
DividendsExpensesNet Income / (Loss)Retained Earnings, Janaury 1Retained Earnings,
December 31RevenuesTotal ExpensesTotal Revenues$
Prepare a retained earnings statement for the year ended December 31. (List items that increase
retained earnings first.)
BRIDGEPORTADVERTISING
Retained Earnings Statement
December 31, 2017For the Year Ended December 31, 2017For .
Balance Sheet(in thousands)Sunday, September 30, 2012Monday, Septe.docxikirkton
Balance Sheet(in thousands)Sunday, September 30, 2012Monday, September 30, 2013Difference between 2012 & 2013% Difference 2012 & 2013Tuesday, September 30, 2014Difference between 2013 & 2014% of Difference 2013 & 2014ASSETS Current assets: Cash and cash equivalents $108,950$98,050($10,900)-10%$107,890$118,79010%Restricted cash—current portion
Niit 1: Restricted funds are deposited in a separate account for a specific purpose, such as debt servicing.$190$110($80)-42%$1,110$1,000909%Accounts receivable, less allowance for doubtful accounts
Niit 1: Accounts receivable refers to the amounts owed to the organization by customers for products and services that have been used by the customers, but not yet paid for. This amount is the net of an allowance account. The allowance for a doubtful account is an estimate made by management to estimate the amount that will be uncollectable.$56,501$49,200($7,301)-13%$75,510$26,31053%Inventories $115,559$49,089($66,470)-58%$49,786$6971%Income taxes receivable
Niit 1: Income tax receivable and income tax payable adjust for temporary differences between generally accepted accounting principles reporting and reporting for Internal Revenue Service tax purposes.$879$348($531)-60%$698$350101%Deferred income taxes $9,300$8,950($350)-4%$8,650($300)-3%Other current assets $1,300$645($655)-50%$2,000$1,355210%Total current assets
Niit 1: Current assets are those assets that can be converted into cash within 12 months.$292,679$206,392($86,287)-29%$245,644$39,25219%Property, plant and equipment, net
Niit 1: Property, plan and equipment, and net are fixed assets net of accumulated depreciation.$177,302$226,820$49,51828%$228,075$1,2551%Deferred income taxes—long-term portion $59,522$58,843($679)-1%$47,200($11,643)-20%Prepayments and deferred charges $3,212$2,670($542)-17%$3,753$1,08341%Restricted cash—long-term portion $110$110$00%–– ERROR:#VALUE!ERROR:#VALUE!Other intangible assets including Goodwill, net
Niit 1: Intangible assets are the long-term resources of an entity but have no physical existence. They derive their value from intellectual or legal rights and the value they add to the organization. Examples include patents and trademarks. Goodwill is a type of intangible asset that arises when the company acquires another firm and pays more for it than its net assets marked to fair value.$36,951$13,214($23,737)-64%$12,900($314)-2%Total assets
Niit 1: Assets represent resources owned by the organization.$569,775$508,049($61,726)-11%$537,572$29,5246%LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities Accounts payable
Niit 1: Accounts payable (A/P) represent unpaid bills or amounts that are owed to suppliers (trade creditors). Accounts payable are shown under current, or short-term, liabilities because they are to be paid quickly, generally within ten to forty-five days.$40,506$41,970$1,4644%$54,284$12,31429%Accrued expenses
Niit 1: Accrued expenses (such as wages, salaries, and utility charges) are expense ...
Exercise 4-17
Before
Adjustment
After
Adjustment
0
1,200
$72,800
$72,800
$75,700
$75,700
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BERE COMPANY
Income Statement
For the Year Ended August 31, 2014
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BERE COMPANY
Retained Earnings Statement
For the Year Ended August 31, 2014
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BERE COMPANY
Balance Sheet
August 31, 2014
Assets
Liabilities and Stockholders\' Equity
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Exercise 4-17 The adjusted trial balance for Bere Company is given below:
BERE COMPANY
Trial Balance
August 31, 2014
Before
Adjustment
After
AdjustmentDr.Cr.Dr.Cr.Cash$10,900$10,900Accounts
Receivable8,8009,400Supplies2,500500Prepaid
Insurance4,0002,500Equipment16,00016,000Accumulated
Depreciation—Equipment$3,600$4,800Accounts Payable5,8005,800Salaries and Wages
Payable01,100Unearned Rent Revenue1,800800Common Stock10,00010,000Retained
Earnings5,5005,500Dividends2,8002,800Service Revenue34,00034,600Rent
Revenue12,10013,100Salaries and Wages Expense17,00018,100Supplies Expense02,000Rent
Expense10,80010,800Insurance Expense01,500Depreciation Expense
0
1,200
$72,800
$72,800
$75,700
$75,700
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CancelPrepare the income statement for the year ended August 31.
BERE COMPANY
Income Statement
For the Year Ended August 31, 2014
ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings,
September 1, 2013Retained Earnings, August 31, 2014Dividends
$
Expenses Revenues Total Expenses Total Revenues Net Income / (Loss) Retained
Earnings, September 1, 2013 Retained Earnings, August 31, 2014 Dividends
$
ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings,
September 1, 2013Retained Earnings, August 31, 2014Dividends
$
Expenses Revenues Total Expenses Total Revenues Net Income / (Loss) Retained
Earnings, September 1, 2013 Retained Earnings, August 31, 2014 Dividends
ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings,
September 1, 2013Retained Earnings, August 31, 2014Dividends
$
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Link to TextPrepare the retained earnings statements for the year ended August 31. (List items
that increase retained earnings first.)
BERE COMPANY
Retained Earnings Statement
For the Year Ended August 31, 2014
ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings,
September 1, 2013Retained Earnings, August 31, 2014Dividends
$
AddLess: ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained
Earnings, September 1, 2013Retained Earnings, August 31, 2014Dividends
AddLess: ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained
Earnings, September 1, 2013Retained Ear.
ListOfAllRatiosLiquidity, or short-term solvency ratiosCurrent rat.docxSHIVA101531
ListOfAllRatiosLiquidity, or short-term solvency ratiosCurrent ratioCA/CLQuick ratio(CA-INV)/CLCash ratioCash/CLLeverage, or long-term solvency ratiosTotal debt ratioTL/TADebt/equity ratioD/EEquity multiplierA/E = 1 + D/ETimes interest earned ratioEBIT/InterestCash coverage ratioEBDIT/Interest or EBITDA/InterestAsset turnover, or utilization ratiosTotal asset turnoverSales/AssetsCapital intensityAssets/SalesInventory TurnoverCOGS/INVDays’ sales in inventory365/Inventory TurnoverReceivables turnoverSale/ARDays’ sales in receivables365/Receivables turnoverAP TurnoverCOGS/APDays until pay365/Profitability ratiosOperating Cycle in Days365/Inventory Turnover + 365/Receivables turnoverCash Cycle in DaysOperating Cycle in Days - 365/Profitability ratiosProfitability ratiosProfit marginNI/SalesReturn on assetsNI/Assets = NI/Sales*Sales/AssetsReturn on equityNI/Equity = NI/Sales*Sales/Assets*Assets/EquityDu Pont Identity(Operating Efficiency = Profit Margin)*(Asset Use Efficiency = Total Asset Turnover)*(Financial Leverage = Equity Multiplier)Market value ratiosEPS =NI/Shares outstandingDividends per share =Div/Shares outstandingPrice-earnings ratio(MV per share)/EPSMarket-to-book ratio(MV per share)/(Book value per share)Growth Ratiosb(add to RE)/NIInternal Growth Rate(ROA*b)/(1-ROA*b)Sustainable Growth Rate(ROE*b)/(1-ROE*b)
&L&F&C&A&RPage &P of &N
ratioTIME WARNER INC2014201320122011BENCHMARKCONSOLIDATED BALANCE SHEETCurrent RatioCA/CL1.481.491.351.510.71(in millions)Quick Ratio(CA-INV)/CL1.271.301.151.292014201320122011Cash RatioCash/CL0.370.220.290.39AssetsCurrent assestsCash and equivalents3,2101,8162,8413,476Account Receivable7,0057,3057,3856,922Inventory1,7761,6482,0361,890Deferred income taxes181369474663Prepaid expenses and other current assets721559528481Current assests of discontinued operations083400Total Current Assets12,89312,53113,26413,432Noncurrent inventories6779701666756594Investments2336200919661820Property, plan and equipment, net2678329139423963Intangible assets subject to amortization, net1225133821082232Intangible assets not subject to amortization7034704376427805Goodwill27587274013044630029Other assets2563245820461926Noncurrent asses of discontinued operations04,91200Total Assets63,09567,99968,08967,801LIABILITIES AND EQUITYCurrent LiabilitiesAccounts Payable and accrued liabilities7,0526,7548,0397,815Deferred revenue5045421,0111,084Debt due within one year1,1686674923Current Liabilities of discontinued operations01,02600Total Current Liabilities8,7248,3889,7998,922Long Term Debt21,38920,06119,12219,501Deferred income taxes1,7972,2872,1272,541Deferred revenue349351523549Other noncurrent liabilities5,6066,3246,7216,334Noncurrent liabilities of discontinued operations068400Total Liabilities37,86538,09538,29237,847EquityCommon stock17171717Additional pai-in capital149,549153,410154,577156,114Treasury stock(41,563)(37,630)(35,077)(33,651)Accumulated other comprehensive loss, net(841)(852)(989)(852)Accumulated deficit(81,932)(85,04 ...
StatementsWidgit Corporations December 31 Balance SheetsAssets201.docxwhitneyleman54422
StatementsWidgit Corporation's December 31 Balance SheetsAssets20122011Cash$ 72,000$ 65,000Accounts receivable439,000328,000Inventories894,000813,000 Total current assets$ 1,405,000$ 1,206,000Land and building238,000271,000Machinery132,000133,000Other fixed assets61,00057,000Total assets$ 1,836,000$ 1,667,000Liabilities and equityAccounts payable$ 432,000$ 409,500Accrued liabilities170,000162,000 Total current liabilities$ 602,000$ 571,500Long-term debt404,290258,898Common stock575,000575,000Retained earnings254,710261,602Total liabilities and equity$ 1,836,000$ 1,667,000Widgit Corporation's December 31 Income Statements20122011Sales$ 4,240,000$ 3,635,000Cost of goods sold3,680,0002,980,000Gross profit$ 560,000$ 655,000General admin. and selling expenses236,320213,550Depreciation159,000154,500Miscellaneous134,000127,000 EBT$ 30,680$ 159,950Taxes (40%)12,27263,980 Net income$ 18,408$ 95,970
HorizontalWidgit Corporation's December 31 Balance SheetsAssets20122011
Dr. Letsch: Dr. Letsch:
Step 1: Set up your financial statements in this format.Dollar Change
Dr. Letsch: Dr. Letsch:
Determine the dollar amount of change between periods.Percentage Change
Dr. Letsch: Dr. Letsch:
Determine the percentage change by dividing the Dollar Change by the initial year data.Cash$ 72,000$ 65,0007,00010.8%Accounts receivable439,000328,000111,00033.8%Inventories894,000813,00081,00010.0% Total current assets$ 1,405,000$ 1,206,000199,00016.5%Land and building238,000271,000(33,000)-12.2%Machinery132,000133,000(1,000)-0.8%Other fixed assets61,00057,0004,0007.0%Total assets$ 1,836,000$ 1,667,000169,00010.1%Liabilities and equityAccounts payable$ 432,000$ 409,50022,5005.5%Accrued liabilities170,000162,0008,0004.9% Total current liabilities$ 602,000$ 571,50030,5005.3%Long-term debt404,290258,898145,39256.2%Common stock575,000575,00000.0%Retained earnings254,710261,602(6,892)-2.6%Total liabilities and equity$ 1,836,000$ 1,667,000169,00010.1%Widgit Corporation's December 31 Income Statements20122011Sales$ 4,240,000$ 3,635,000605,00016.6%Cost of goods sold3,680,0002,980,000700,00023.5%Gross profit$ 560,000$ 655,000(95,000)-14.5%General admin. and selling expenses236,320213,55022,77010.7%Depreciation159,000154,5004,5002.9%Miscellaneous134,000127,0007,0005.5% EBT$ 30,680$ 159,950(129,270)-80.8%Taxes (40%)12,27263,980(51,708)-80.8% Net income$ 18,408$ 95,970(77,562)-80.8%
VerticalWidgit Corporation's December 31 Balance SheetsAssets2012Percent2011Percent
Dr. Letsch: Dr. Letsch:
Separate columns; add percent columns; calculate percentages based on total assets, total L&E, and total sales depending on the statement or part of statement analyzed.Cash$ 72,0003.9%$ 65,0003.9%Accounts receivable439,00023.9%328,00019.7%Inventories894,00048.7%813,00048.8% Total current assets$ 1,405,00076.5%$ 1,206,00072.3%Land and building238,00013.0%271,00016.3%Machinery132,0007.2%133,0008.0%Other fi.
Riordan Manufacturing, Inc.
Consolidated Balance Sheet
Fiscal Year Ending
September 30th
2011
2010
Assets
Current Assets
Cash
$3,725,406
$2,807,029
Accounts Receivable
3,192,094
2,695,342
Current Portion of Notes Receivable
84,255
102,976
Inventories
9,709,611
8,517,203
Prepaid Expenses and Other Items
666,591
402,240
Total Current Assets
$17,377,957
$14,524,790
Notes Receivable, less current portion
$842,551
$936,168
Investment in Joint Venture
1,734,004
1,609,004
Property, Plant and Equipment - net
26,366,949
16,658,218
Intangible Assets - net
904,473
904,473
Other Assets
183,203
192,845
Total Assets
$47,409,137
$34,825,498
Liabilities and Stockholders' Equity
Current Liabilities
Current Portion of Long-Term Debt
$1,560,959
$474,032
Accounts Payable
1,141,561
1,391,385
Accrued Liabilities
430,477
524,685
Income Taxes Payable
552,155
359,955
Total Current Liabilities
$3,685,152
$2,750,057
Bank Line of Credit
$114,759
$295,865
Long-Term Debt - less current portion
9,500,741
1,006,955
Deferred Income Taxes - net
660,503
825,629
Total Liabilities
$13,961,155
$4,878,506
Common Stock
Stated par value is $.01.
20,000,000 shares authorized.
Issued and Outstanding 15,801,332 net of treasury shares.
$29,055,488
$29,055,488
Retained Earnings / (Accumulated Deficit)
4,392,494
891,504
Total Stockholders' Equity
$33,447,982
$29,946,992
Total Liabilities and Stockholders' Equity
$47,409,137
$34,825,498
Balance SheetRiordan Manufacturing, Inc.Consolidated Balance SheetFiscal Year Ending September 30th20102009200820072006200520042003AssetsCurrent AssetsCash$2,807,029$1,511,253$1,040,639$1,442,507$1,336,319$305,563$357,216$85,632Accounts Receivable$2,695,342$2,644,307$2,883,964$4,544,138$4,855,334$6,062,838$5,657,216$6,556,160Current Portion of Notes Receivable$102,976$117,475$107,107$109,293$95,538$70,825$117,888$13,184Inventories$8,517,203$7,123,790$8,305,690$7,919,987$7,224,947$7,850,970$7,854,112$8,074,880Deferred Income Taxes - net$0$0$0$0$0$0$328,832$349,184Pre-paid Expenses and Other Items$402,240$458,875$279,336$294,038$256,903$264,896$328,192$336,128Total Current Assets$14,524,790$11,855,700$12,616,736$14,309,963$13,769,041$14,555,092$14,643,456$15,415,168Notes Receivable, less current portion$936,168$1,067,953$1,102,260$1,124,755$986,627$256,583$177,408$431,104Investment in Joint Venture$1,609,004$1,333,504$1,183,504$1,058,504$858,504$283,504$133,504$139,136Property, Plant & Equipment - net$16,658,218$17,767,486$18,869,612$18,424,594$24,510,830$19,114,830$18,511,360$19,205,120Intangible Assets - net$904,473$904,473$550,590$550,590$550,590$329,405$336,128$395,136Other Assets$192,845$175,314$106,721$108,899$107,821$52,768$54,400$51,840Total Assets$34,825,498$33,104,430$34,429,423$35,577,305$40,783,413$34,592,182$33,856,256$35,637,504Liabilities and Stockholders' EquityCurrent LiabilitiesCurrent Portion of Long-Term Debt$474,032$484,894$497,480$495,515$538,046$1,219,258$1,106,304$1,73 ...
Balance Sheet(in thousands)Thursday, September 30, 2010Friday, Sep.docxikirkton
Balance Sheet(in thousands)Thursday, September 30, 2010Friday, September 30, 2011Sunday, September 30, 2012Monday, September 30, 2013Tuesday, September 30, 2014ASSETSCurrent assets:Cash and cash equivalents$97,550$102,054$108,950$98,050$107,890Restricted cash—current portion$190$190$190$110$1,110Accounts receivable, less allowance for doubtful accounts$49,650$50,643$56,501$49,200$75,510Inventories$106,900$100,238$115,559$49,089$49,786Income taxes receivable$650$987$879$348$698Deferred income taxes$9,213$9,125$9,300$8,950$8,650Other current assets$1,136$973$1,300$645$2,000Total current assets$265,289$264,210$292,679$206,392$245,644Property, plant and equipment, net$148,921$167,860$177,302$226,820$228,075Deferred income taxes—long-term portion$59,352$59,182$59,522$58,843$47,200Prepayments and deferred charges$3,076$2,941$3,212$2,670$3,753Restricted cash—long-term portion$110$110$110$110––Other intangible assets including Goodwill, net$37,020$37,090$36,951$13,214$12,900Total assets$513,768$531,393$569,775$508,049$537,572LIABILITIES AND STOCKHOLDERS’ EQUITYLiabilitiesAccounts payable$25,600$31,850$40,506$41,970$54,284Accrued expenses$8,448$10,511$13,037$17,890$21,780Accrued pension and postretirement benefits$16,640$20,703$23,960$27,890$18,758Deferred revenue—current portion$1,890$1,980$2,001$2,500$2,500Current maturities of long-term obligations$109$108$109$110$1,009Total current liabilities$52,687$65,151$79,613$90,360$98,331Long-term obligations (less current portion)$3,097$3,074$1,580$1,482$5,434Deferred revenue (less current portion)$64,030$41,228$59,509$36,070$39,250Non-current income taxes payable$603$409$397$292$308Accrued pension and postretirement benefits$142,050$152,791$156,900$169,870$170,802Total liabilities$262,467$262,653$297,999$298,074$314,125Stockholders’ equity:Common stock, $0.001 par value (40,000,000 shares authorized)$11$11$11$12$13Additional paid-in capital$217,631$220,926$223,220$227,650$237,989Retained Earnings (Accumulated Loss)$33,659$47,803$48,246($17,687)($14,855)Total stockholders’ equity$251,301$268,740$271,476$209,975$223,147Total liabilities and stockholders’ equity$513,768$531,393$569,475$508,049$537,272
Cash equivalent is a liquid asset, for example, a bank deposit, that can be easily converted into cash. Click any red icon below for information.
Restricted funds are deposited in a separate account for a specific purpose, such as debt servicing.
Accounts receivable refers to the amounts owed to the organization by customers for products and services that have been used by the customers, but not yet paid for. This amount is the net of an allowance account. The allowance for a doubtful account is an estimate made by management to estimate the amount that will be uncollectable.
Income tax receivable and income tax payable adjust for temporary differences between generally accepted accounting principles reporting and reporting for Internal Revenue Service tax purposes.
Current assets are those assets that can be co ...
Exercise 12-1Putnam Corporation had these transactions during 20.docxgitagrimston
Exercise 12-1
Putnam Corporation had these transactions during 2014.
Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.
(a)
Purchased a machine for $30,000, giving a long-term note in exchange.
(b)
Issued $50,000 par value common stock for cash.
(c)
Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
(d)
Declared and paid a cash dividend of $13,000.
(e)
Sold a long-term investment with a cost of $15,000 for $15,000 cash.
(f)
Collected $16,000 of accounts receivable.
(g)
Paid $18,000 on accounts payable.
IFRS 13-1
Ling Company reports the following information for the year ended December 31, 2014: sales revenue $1,000,000, cost of goods sold $700,000, operating expenses $200,000, and an unrealized gain on non-trading securities of $75,000. Prepare a statement of comprehensive income using the one-statement approach.
LING COMPANY
Statement of Comprehensive Income
For the Year Ended December 31, 2014
$
$
Problem 12-9A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 127,664
$ 76,472
Accounts receivable
138,724
60,040
Inventory
177,750
162,503
Prepaid expenses
44,872
41,080
Long-term investments
218,040
172,220
Plant assets
450,300
383,150
Accumulated depreciation
(79,000
)
(82,160
)
Total
$1,078,350
$813,305
Liabilities and Stockholders’ Equity
Accounts payable
$ 161,160
$ 106,334
Accrued expenses payable
26,070
33,180
Bonds payable
173,800
230,680
Common stock
347,600
276,500
Retained earnings
369,720
166,611
Total
$1,078,350
$813,305
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$613,767
Less:
Cost of goods sold
$214,027
Operating expenses, excluding depreciation
19,608
Depreciation expense
73,470
Income tax expense
43,102
Interest expense
7,473
Loss on disposal of plant assets
11,850
369,530
Net income
$ 244,237
Additional information:
1.
New plant assets costing $158,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $90,850 and accumulated depreciation of $76,630 were sold for $2,370 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $41,128 was declared and paid during the year.
Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
ODGERS INC.Statement of Cash Flows
For the Year Ended December 31, 2014
$
Adjustments to reconcile net income to
$
...
some observations are above and some observation are below th.pdfakritigallery
some observations are above and some observation are below the regression model with total
deviations equal to zero
there is no positive or negative association between the variables
average deviations around the mean is zero
all the observations fall on the regression equation
all of the above
Solution
average deviations around the mean is zero.
Some experts say that effective communication is the most important .pdfakritigallery
Some experts say that effective communication is the most important factor in successfully
leading change. Do you agree, and can you cite examples that support your view?
Solution
I do agree on the fact that effective communication is the most important factor in successfully
leading change.
Most organization execute their plans based on the mision and vision of the company and also on
strategic planning however they failed to provide this information to the first line on the
company: The regular employees , they are the last in the line to get this information, to
communicate what.
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Balance Sheet(in thousands)Sunday, September 30, 2012Monday, Septe.docxikirkton
Balance Sheet(in thousands)Sunday, September 30, 2012Monday, September 30, 2013Difference between 2012 & 2013% Difference 2012 & 2013Tuesday, September 30, 2014Difference between 2013 & 2014% of Difference 2013 & 2014ASSETS Current assets: Cash and cash equivalents $108,950$98,050($10,900)-10%$107,890$118,79010%Restricted cash—current portion
Niit 1: Restricted funds are deposited in a separate account for a specific purpose, such as debt servicing.$190$110($80)-42%$1,110$1,000909%Accounts receivable, less allowance for doubtful accounts
Niit 1: Accounts receivable refers to the amounts owed to the organization by customers for products and services that have been used by the customers, but not yet paid for. This amount is the net of an allowance account. The allowance for a doubtful account is an estimate made by management to estimate the amount that will be uncollectable.$56,501$49,200($7,301)-13%$75,510$26,31053%Inventories $115,559$49,089($66,470)-58%$49,786$6971%Income taxes receivable
Niit 1: Income tax receivable and income tax payable adjust for temporary differences between generally accepted accounting principles reporting and reporting for Internal Revenue Service tax purposes.$879$348($531)-60%$698$350101%Deferred income taxes $9,300$8,950($350)-4%$8,650($300)-3%Other current assets $1,300$645($655)-50%$2,000$1,355210%Total current assets
Niit 1: Current assets are those assets that can be converted into cash within 12 months.$292,679$206,392($86,287)-29%$245,644$39,25219%Property, plant and equipment, net
Niit 1: Property, plan and equipment, and net are fixed assets net of accumulated depreciation.$177,302$226,820$49,51828%$228,075$1,2551%Deferred income taxes—long-term portion $59,522$58,843($679)-1%$47,200($11,643)-20%Prepayments and deferred charges $3,212$2,670($542)-17%$3,753$1,08341%Restricted cash—long-term portion $110$110$00%–– ERROR:#VALUE!ERROR:#VALUE!Other intangible assets including Goodwill, net
Niit 1: Intangible assets are the long-term resources of an entity but have no physical existence. They derive their value from intellectual or legal rights and the value they add to the organization. Examples include patents and trademarks. Goodwill is a type of intangible asset that arises when the company acquires another firm and pays more for it than its net assets marked to fair value.$36,951$13,214($23,737)-64%$12,900($314)-2%Total assets
Niit 1: Assets represent resources owned by the organization.$569,775$508,049($61,726)-11%$537,572$29,5246%LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities Accounts payable
Niit 1: Accounts payable (A/P) represent unpaid bills or amounts that are owed to suppliers (trade creditors). Accounts payable are shown under current, or short-term, liabilities because they are to be paid quickly, generally within ten to forty-five days.$40,506$41,970$1,4644%$54,284$12,31429%Accrued expenses
Niit 1: Accrued expenses (such as wages, salaries, and utility charges) are expense ...
Exercise 4-17
Before
Adjustment
After
Adjustment
0
1,200
$72,800
$72,800
$75,700
$75,700
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BERE COMPANY
Income Statement
For the Year Ended August 31, 2014
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BERE COMPANY
Retained Earnings Statement
For the Year Ended August 31, 2014
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BERE COMPANY
Balance Sheet
August 31, 2014
Assets
Liabilities and Stockholders\' Equity
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Exercise 4-17 The adjusted trial balance for Bere Company is given below:
BERE COMPANY
Trial Balance
August 31, 2014
Before
Adjustment
After
AdjustmentDr.Cr.Dr.Cr.Cash$10,900$10,900Accounts
Receivable8,8009,400Supplies2,500500Prepaid
Insurance4,0002,500Equipment16,00016,000Accumulated
Depreciation—Equipment$3,600$4,800Accounts Payable5,8005,800Salaries and Wages
Payable01,100Unearned Rent Revenue1,800800Common Stock10,00010,000Retained
Earnings5,5005,500Dividends2,8002,800Service Revenue34,00034,600Rent
Revenue12,10013,100Salaries and Wages Expense17,00018,100Supplies Expense02,000Rent
Expense10,80010,800Insurance Expense01,500Depreciation Expense
0
1,200
$72,800
$72,800
$75,700
$75,700
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CancelPrepare the income statement for the year ended August 31.
BERE COMPANY
Income Statement
For the Year Ended August 31, 2014
ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings,
September 1, 2013Retained Earnings, August 31, 2014Dividends
$
Expenses Revenues Total Expenses Total Revenues Net Income / (Loss) Retained
Earnings, September 1, 2013 Retained Earnings, August 31, 2014 Dividends
$
ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings,
September 1, 2013Retained Earnings, August 31, 2014Dividends
$
Expenses Revenues Total Expenses Total Revenues Net Income / (Loss) Retained
Earnings, September 1, 2013 Retained Earnings, August 31, 2014 Dividends
ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings,
September 1, 2013Retained Earnings, August 31, 2014Dividends
$
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Link to TextPrepare the retained earnings statements for the year ended August 31. (List items
that increase retained earnings first.)
BERE COMPANY
Retained Earnings Statement
For the Year Ended August 31, 2014
ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained Earnings,
September 1, 2013Retained Earnings, August 31, 2014Dividends
$
AddLess: ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained
Earnings, September 1, 2013Retained Earnings, August 31, 2014Dividends
AddLess: ExpensesRevenuesTotal ExpensesTotal RevenuesNet Income / (Loss)Retained
Earnings, September 1, 2013Retained Ear.
ListOfAllRatiosLiquidity, or short-term solvency ratiosCurrent rat.docxSHIVA101531
ListOfAllRatiosLiquidity, or short-term solvency ratiosCurrent ratioCA/CLQuick ratio(CA-INV)/CLCash ratioCash/CLLeverage, or long-term solvency ratiosTotal debt ratioTL/TADebt/equity ratioD/EEquity multiplierA/E = 1 + D/ETimes interest earned ratioEBIT/InterestCash coverage ratioEBDIT/Interest or EBITDA/InterestAsset turnover, or utilization ratiosTotal asset turnoverSales/AssetsCapital intensityAssets/SalesInventory TurnoverCOGS/INVDays’ sales in inventory365/Inventory TurnoverReceivables turnoverSale/ARDays’ sales in receivables365/Receivables turnoverAP TurnoverCOGS/APDays until pay365/Profitability ratiosOperating Cycle in Days365/Inventory Turnover + 365/Receivables turnoverCash Cycle in DaysOperating Cycle in Days - 365/Profitability ratiosProfitability ratiosProfit marginNI/SalesReturn on assetsNI/Assets = NI/Sales*Sales/AssetsReturn on equityNI/Equity = NI/Sales*Sales/Assets*Assets/EquityDu Pont Identity(Operating Efficiency = Profit Margin)*(Asset Use Efficiency = Total Asset Turnover)*(Financial Leverage = Equity Multiplier)Market value ratiosEPS =NI/Shares outstandingDividends per share =Div/Shares outstandingPrice-earnings ratio(MV per share)/EPSMarket-to-book ratio(MV per share)/(Book value per share)Growth Ratiosb(add to RE)/NIInternal Growth Rate(ROA*b)/(1-ROA*b)Sustainable Growth Rate(ROE*b)/(1-ROE*b)
&L&F&C&A&RPage &P of &N
ratioTIME WARNER INC2014201320122011BENCHMARKCONSOLIDATED BALANCE SHEETCurrent RatioCA/CL1.481.491.351.510.71(in millions)Quick Ratio(CA-INV)/CL1.271.301.151.292014201320122011Cash RatioCash/CL0.370.220.290.39AssetsCurrent assestsCash and equivalents3,2101,8162,8413,476Account Receivable7,0057,3057,3856,922Inventory1,7761,6482,0361,890Deferred income taxes181369474663Prepaid expenses and other current assets721559528481Current assests of discontinued operations083400Total Current Assets12,89312,53113,26413,432Noncurrent inventories6779701666756594Investments2336200919661820Property, plan and equipment, net2678329139423963Intangible assets subject to amortization, net1225133821082232Intangible assets not subject to amortization7034704376427805Goodwill27587274013044630029Other assets2563245820461926Noncurrent asses of discontinued operations04,91200Total Assets63,09567,99968,08967,801LIABILITIES AND EQUITYCurrent LiabilitiesAccounts Payable and accrued liabilities7,0526,7548,0397,815Deferred revenue5045421,0111,084Debt due within one year1,1686674923Current Liabilities of discontinued operations01,02600Total Current Liabilities8,7248,3889,7998,922Long Term Debt21,38920,06119,12219,501Deferred income taxes1,7972,2872,1272,541Deferred revenue349351523549Other noncurrent liabilities5,6066,3246,7216,334Noncurrent liabilities of discontinued operations068400Total Liabilities37,86538,09538,29237,847EquityCommon stock17171717Additional pai-in capital149,549153,410154,577156,114Treasury stock(41,563)(37,630)(35,077)(33,651)Accumulated other comprehensive loss, net(841)(852)(989)(852)Accumulated deficit(81,932)(85,04 ...
StatementsWidgit Corporations December 31 Balance SheetsAssets201.docxwhitneyleman54422
StatementsWidgit Corporation's December 31 Balance SheetsAssets20122011Cash$ 72,000$ 65,000Accounts receivable439,000328,000Inventories894,000813,000 Total current assets$ 1,405,000$ 1,206,000Land and building238,000271,000Machinery132,000133,000Other fixed assets61,00057,000Total assets$ 1,836,000$ 1,667,000Liabilities and equityAccounts payable$ 432,000$ 409,500Accrued liabilities170,000162,000 Total current liabilities$ 602,000$ 571,500Long-term debt404,290258,898Common stock575,000575,000Retained earnings254,710261,602Total liabilities and equity$ 1,836,000$ 1,667,000Widgit Corporation's December 31 Income Statements20122011Sales$ 4,240,000$ 3,635,000Cost of goods sold3,680,0002,980,000Gross profit$ 560,000$ 655,000General admin. and selling expenses236,320213,550Depreciation159,000154,500Miscellaneous134,000127,000 EBT$ 30,680$ 159,950Taxes (40%)12,27263,980 Net income$ 18,408$ 95,970
HorizontalWidgit Corporation's December 31 Balance SheetsAssets20122011
Dr. Letsch: Dr. Letsch:
Step 1: Set up your financial statements in this format.Dollar Change
Dr. Letsch: Dr. Letsch:
Determine the dollar amount of change between periods.Percentage Change
Dr. Letsch: Dr. Letsch:
Determine the percentage change by dividing the Dollar Change by the initial year data.Cash$ 72,000$ 65,0007,00010.8%Accounts receivable439,000328,000111,00033.8%Inventories894,000813,00081,00010.0% Total current assets$ 1,405,000$ 1,206,000199,00016.5%Land and building238,000271,000(33,000)-12.2%Machinery132,000133,000(1,000)-0.8%Other fixed assets61,00057,0004,0007.0%Total assets$ 1,836,000$ 1,667,000169,00010.1%Liabilities and equityAccounts payable$ 432,000$ 409,50022,5005.5%Accrued liabilities170,000162,0008,0004.9% Total current liabilities$ 602,000$ 571,50030,5005.3%Long-term debt404,290258,898145,39256.2%Common stock575,000575,00000.0%Retained earnings254,710261,602(6,892)-2.6%Total liabilities and equity$ 1,836,000$ 1,667,000169,00010.1%Widgit Corporation's December 31 Income Statements20122011Sales$ 4,240,000$ 3,635,000605,00016.6%Cost of goods sold3,680,0002,980,000700,00023.5%Gross profit$ 560,000$ 655,000(95,000)-14.5%General admin. and selling expenses236,320213,55022,77010.7%Depreciation159,000154,5004,5002.9%Miscellaneous134,000127,0007,0005.5% EBT$ 30,680$ 159,950(129,270)-80.8%Taxes (40%)12,27263,980(51,708)-80.8% Net income$ 18,408$ 95,970(77,562)-80.8%
VerticalWidgit Corporation's December 31 Balance SheetsAssets2012Percent2011Percent
Dr. Letsch: Dr. Letsch:
Separate columns; add percent columns; calculate percentages based on total assets, total L&E, and total sales depending on the statement or part of statement analyzed.Cash$ 72,0003.9%$ 65,0003.9%Accounts receivable439,00023.9%328,00019.7%Inventories894,00048.7%813,00048.8% Total current assets$ 1,405,00076.5%$ 1,206,00072.3%Land and building238,00013.0%271,00016.3%Machinery132,0007.2%133,0008.0%Other fi.
Riordan Manufacturing, Inc.
Consolidated Balance Sheet
Fiscal Year Ending
September 30th
2011
2010
Assets
Current Assets
Cash
$3,725,406
$2,807,029
Accounts Receivable
3,192,094
2,695,342
Current Portion of Notes Receivable
84,255
102,976
Inventories
9,709,611
8,517,203
Prepaid Expenses and Other Items
666,591
402,240
Total Current Assets
$17,377,957
$14,524,790
Notes Receivable, less current portion
$842,551
$936,168
Investment in Joint Venture
1,734,004
1,609,004
Property, Plant and Equipment - net
26,366,949
16,658,218
Intangible Assets - net
904,473
904,473
Other Assets
183,203
192,845
Total Assets
$47,409,137
$34,825,498
Liabilities and Stockholders' Equity
Current Liabilities
Current Portion of Long-Term Debt
$1,560,959
$474,032
Accounts Payable
1,141,561
1,391,385
Accrued Liabilities
430,477
524,685
Income Taxes Payable
552,155
359,955
Total Current Liabilities
$3,685,152
$2,750,057
Bank Line of Credit
$114,759
$295,865
Long-Term Debt - less current portion
9,500,741
1,006,955
Deferred Income Taxes - net
660,503
825,629
Total Liabilities
$13,961,155
$4,878,506
Common Stock
Stated par value is $.01.
20,000,000 shares authorized.
Issued and Outstanding 15,801,332 net of treasury shares.
$29,055,488
$29,055,488
Retained Earnings / (Accumulated Deficit)
4,392,494
891,504
Total Stockholders' Equity
$33,447,982
$29,946,992
Total Liabilities and Stockholders' Equity
$47,409,137
$34,825,498
Balance SheetRiordan Manufacturing, Inc.Consolidated Balance SheetFiscal Year Ending September 30th20102009200820072006200520042003AssetsCurrent AssetsCash$2,807,029$1,511,253$1,040,639$1,442,507$1,336,319$305,563$357,216$85,632Accounts Receivable$2,695,342$2,644,307$2,883,964$4,544,138$4,855,334$6,062,838$5,657,216$6,556,160Current Portion of Notes Receivable$102,976$117,475$107,107$109,293$95,538$70,825$117,888$13,184Inventories$8,517,203$7,123,790$8,305,690$7,919,987$7,224,947$7,850,970$7,854,112$8,074,880Deferred Income Taxes - net$0$0$0$0$0$0$328,832$349,184Pre-paid Expenses and Other Items$402,240$458,875$279,336$294,038$256,903$264,896$328,192$336,128Total Current Assets$14,524,790$11,855,700$12,616,736$14,309,963$13,769,041$14,555,092$14,643,456$15,415,168Notes Receivable, less current portion$936,168$1,067,953$1,102,260$1,124,755$986,627$256,583$177,408$431,104Investment in Joint Venture$1,609,004$1,333,504$1,183,504$1,058,504$858,504$283,504$133,504$139,136Property, Plant & Equipment - net$16,658,218$17,767,486$18,869,612$18,424,594$24,510,830$19,114,830$18,511,360$19,205,120Intangible Assets - net$904,473$904,473$550,590$550,590$550,590$329,405$336,128$395,136Other Assets$192,845$175,314$106,721$108,899$107,821$52,768$54,400$51,840Total Assets$34,825,498$33,104,430$34,429,423$35,577,305$40,783,413$34,592,182$33,856,256$35,637,504Liabilities and Stockholders' EquityCurrent LiabilitiesCurrent Portion of Long-Term Debt$474,032$484,894$497,480$495,515$538,046$1,219,258$1,106,304$1,73 ...
Balance Sheet(in thousands)Thursday, September 30, 2010Friday, Sep.docxikirkton
Balance Sheet(in thousands)Thursday, September 30, 2010Friday, September 30, 2011Sunday, September 30, 2012Monday, September 30, 2013Tuesday, September 30, 2014ASSETSCurrent assets:Cash and cash equivalents$97,550$102,054$108,950$98,050$107,890Restricted cash—current portion$190$190$190$110$1,110Accounts receivable, less allowance for doubtful accounts$49,650$50,643$56,501$49,200$75,510Inventories$106,900$100,238$115,559$49,089$49,786Income taxes receivable$650$987$879$348$698Deferred income taxes$9,213$9,125$9,300$8,950$8,650Other current assets$1,136$973$1,300$645$2,000Total current assets$265,289$264,210$292,679$206,392$245,644Property, plant and equipment, net$148,921$167,860$177,302$226,820$228,075Deferred income taxes—long-term portion$59,352$59,182$59,522$58,843$47,200Prepayments and deferred charges$3,076$2,941$3,212$2,670$3,753Restricted cash—long-term portion$110$110$110$110––Other intangible assets including Goodwill, net$37,020$37,090$36,951$13,214$12,900Total assets$513,768$531,393$569,775$508,049$537,572LIABILITIES AND STOCKHOLDERS’ EQUITYLiabilitiesAccounts payable$25,600$31,850$40,506$41,970$54,284Accrued expenses$8,448$10,511$13,037$17,890$21,780Accrued pension and postretirement benefits$16,640$20,703$23,960$27,890$18,758Deferred revenue—current portion$1,890$1,980$2,001$2,500$2,500Current maturities of long-term obligations$109$108$109$110$1,009Total current liabilities$52,687$65,151$79,613$90,360$98,331Long-term obligations (less current portion)$3,097$3,074$1,580$1,482$5,434Deferred revenue (less current portion)$64,030$41,228$59,509$36,070$39,250Non-current income taxes payable$603$409$397$292$308Accrued pension and postretirement benefits$142,050$152,791$156,900$169,870$170,802Total liabilities$262,467$262,653$297,999$298,074$314,125Stockholders’ equity:Common stock, $0.001 par value (40,000,000 shares authorized)$11$11$11$12$13Additional paid-in capital$217,631$220,926$223,220$227,650$237,989Retained Earnings (Accumulated Loss)$33,659$47,803$48,246($17,687)($14,855)Total stockholders’ equity$251,301$268,740$271,476$209,975$223,147Total liabilities and stockholders’ equity$513,768$531,393$569,475$508,049$537,272
Cash equivalent is a liquid asset, for example, a bank deposit, that can be easily converted into cash. Click any red icon below for information.
Restricted funds are deposited in a separate account for a specific purpose, such as debt servicing.
Accounts receivable refers to the amounts owed to the organization by customers for products and services that have been used by the customers, but not yet paid for. This amount is the net of an allowance account. The allowance for a doubtful account is an estimate made by management to estimate the amount that will be uncollectable.
Income tax receivable and income tax payable adjust for temporary differences between generally accepted accounting principles reporting and reporting for Internal Revenue Service tax purposes.
Current assets are those assets that can be co ...
Exercise 12-1Putnam Corporation had these transactions during 20.docxgitagrimston
Exercise 12-1
Putnam Corporation had these transactions during 2014.
Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities, or noncash investing and financing activities.
(a)
Purchased a machine for $30,000, giving a long-term note in exchange.
(b)
Issued $50,000 par value common stock for cash.
(c)
Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
(d)
Declared and paid a cash dividend of $13,000.
(e)
Sold a long-term investment with a cost of $15,000 for $15,000 cash.
(f)
Collected $16,000 of accounts receivable.
(g)
Paid $18,000 on accounts payable.
IFRS 13-1
Ling Company reports the following information for the year ended December 31, 2014: sales revenue $1,000,000, cost of goods sold $700,000, operating expenses $200,000, and an unrealized gain on non-trading securities of $75,000. Prepare a statement of comprehensive income using the one-statement approach.
LING COMPANY
Statement of Comprehensive Income
For the Year Ended December 31, 2014
$
$
Problem 12-9A
Condensed financial data of Odgers Inc. follow.
ODGERS INC.Comparative Balance Sheets
December 31
Assets
2014
2013
Cash
$ 127,664
$ 76,472
Accounts receivable
138,724
60,040
Inventory
177,750
162,503
Prepaid expenses
44,872
41,080
Long-term investments
218,040
172,220
Plant assets
450,300
383,150
Accumulated depreciation
(79,000
)
(82,160
)
Total
$1,078,350
$813,305
Liabilities and Stockholders’ Equity
Accounts payable
$ 161,160
$ 106,334
Accrued expenses payable
26,070
33,180
Bonds payable
173,800
230,680
Common stock
347,600
276,500
Retained earnings
369,720
166,611
Total
$1,078,350
$813,305
ODGERS INC.Income Statement Data
For the Year Ended December 31, 2014
Sales revenue
$613,767
Less:
Cost of goods sold
$214,027
Operating expenses, excluding depreciation
19,608
Depreciation expense
73,470
Income tax expense
43,102
Interest expense
7,473
Loss on disposal of plant assets
11,850
369,530
Net income
$ 244,237
Additional information:
1.
New plant assets costing $158,000 were purchased for cash during the year.
2.
Old plant assets having an original cost of $90,850 and accumulated depreciation of $76,630 were sold for $2,370 cash.
3.
Bonds payable matured and were paid off at face value for cash.
4.
A cash dividend of $41,128 was declared and paid during the year.
Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
ODGERS INC.Statement of Cash Flows
For the Year Ended December 31, 2014
$
Adjustments to reconcile net income to
$
...
Similar to Starz Department Store is located near the Towne Shopping Mall. At t.pdf (20)
some observations are above and some observation are below th.pdfakritigallery
some observations are above and some observation are below the regression model with total
deviations equal to zero
there is no positive or negative association between the variables
average deviations around the mean is zero
all the observations fall on the regression equation
all of the above
Solution
average deviations around the mean is zero.
Some experts say that effective communication is the most important .pdfakritigallery
Some experts say that effective communication is the most important factor in successfully
leading change. Do you agree, and can you cite examples that support your view?
Solution
I do agree on the fact that effective communication is the most important factor in successfully
leading change.
Most organization execute their plans based on the mision and vision of the company and also on
strategic planning however they failed to provide this information to the first line on the
company: The regular employees , they are the last in the line to get this information, to
communicate what.
Someone has a weighted coin that lands heads up with a probability o.pdfakritigallery
Someone has a weighted coin that lands heads up with a probability of 2/3 andtails up with
aprobability of 1/3. If the coin comes up heads you pay $1 dollar ; if the coin comes up tails you
receive $1.50. What is the expected value for this game?
Solution
7/6.
Some researchers have noted that adolescents who spend a lot of time.pdfakritigallery
Some researchers have noted that adolescents who spend a lot of time playing video or computer
games are at greater risk for depression and for violence. This is an example of
A. a valid conclusion since more time yields more aggression is a positive association.
B. an observational study with lurking variables that may explain the association.
C. a single-blind experiment because the subjects knew they were watching television.
D. a paired data experiment since we are studying both aggression and TV watching.
Solution
B. an observational study with lurking variables that may explain the association.
Option - B as the study is observational with some parameters used to calculate the association.
Star A has a parallax of .2 and star B has parallx .04. Star B a.pdfakritigallery
Star A has a parallax of .2\" and star B has parallx .04\". Star B appears 3 times as bright as star
A. Which of the stars is more luminous, and by how much?
Solution
take star a (0.2) divide by star B (0.4) and then time by 3.
0.02 /divide 0.4= .5 *(times)3= 1.5 times brighter. Hope this helps and good luck.
Some organizations have formed crisis management teams comprised of .pdfakritigallery
Some organizations have formed crisis management teams comprised of both hourly workers
and supervisors to conduct risk assessments, develop action plans, and perform crisis
interventions. Reports from Virginia Tech and Northern Illinois acknowledged that some
students, staff, and faculty did not want to return to the buildings where the violence occurred.
Consider the following scenario: As your professor is passing back an exam paper, the person
across the aisle from you crumbles her exam before she throws it at him, runs toward the door,
and screams,
Solution.
Stability of dividends is not important to stockholders.TrueFals.pdfakritigallery
Stability of dividends is not important to stockholders.
True
False
Solution
The statement is \"False\".
_________
Explanation:
Dividend stability is important from the point of view of stockholders as it indicates a stable
profitability/financial position of the company. It becomes all the more important when there is a
downfall in the earnings of the company. A stable dividend (without any reduction/cuts at the
time of lower than expected earnings) would provide an indication that the management is
confident about the company\'s operations and its future growth prospects which is necessary to
instill confidence in the existing and prospective investors. Further, dividends are preferred by
investors desiring fixed income from their investments in the company..
Stacia hikes at an average rate of 4 mi per hour. The number of mil.pdfakritigallery
Stacia hikes at an average rate of 4 mi per hour. The number of miles, m, she hikes is viewed as
a function of the number of hours, h, she hikes. which is the dependent variable?
Solution
speed =4 miles/hr
m=4h
4h is the function of miles in hours
m is the dependent variable since it depend on h.
Spread Spectrum TechniquesDescribe in detail a simple data communi.pdfakritigallery
Spread Spectrum Techniques
Describe in detail a simple data communication system that will monitor the temperature of a
remote inaccessible location and display temperature on a personal computer.
Suggest a future application for spread spectrum techniques and explain why SS would be
appropriate for that application.
Solution
Spread spectrum communication systems are widely used today in a variety of applications for
different purposes such as access of same radio interrupted or blocked by spurious transmission
from enemy), interference rejection, spectrum by multiple users (multiple access), anti-jamming
capability (so that signal transmission can not be secure communications, multi-path protection,
etc. However, irrespective of the application, all spread spectrum communication systems satisfy
the following criteria-
a) As the name suggests, bandwidth of the transmitted signal is much greater than that of the
message that modulates a carrier.
b)The power spectral density of the modulated signal is very low and usually comparable to
background noise and interference at the receiver.
DATA COMMUNICATION:
It defines as data exchange between source and receiver.
Wireless Sensor Network (WSN) typically consists of small spatially distributed devices to
cooperatively monitor physical or environmental conditions, such as temperature, sound,
vibration and etc. With WSN connectivity, data from remote sensors of different types are
collected by central unit for further processing and analysis.
WSNs are less expensive and more flexible than wired monitoring systems. There are
applications that become feasible only with WSNs because using wires between devices are too
expensive or impossible at all. For instance, in many industrial, agricultural, military or
ecological problems physical wiring is impossible or would create extreme disturbance for other
operations. WSN, compared to other existing wireless technologies, is the only technology that
targets simple communication with low data rates and low power consumption.
Each WSN node is typically equipped with:
Coding Techniques
In order to transmit anything, codes used for data transmission have to be considered. However,
this section will not discuss the coding of information (like error correction coding) but those
that act as noise-like carriers for the information being transferred. These codes are of much
greater length than those for the usual areas of data transfer, since it is intended for bandwidth
spreading.
Codes in a spread-spectrum system are used for:
Maximal sequencing is one of the more popular coding methods in a spread-spectrum system.
Maximal codes can be generated by a given shift register or a delay element of given length. In
binary shift register sequence generators, the maximum length sequence is (2^n-1) chips, where
n is the number of stages in the shift register.
A shift register generator consists of a shift register in conjunction with the appropriate logic,
which feeds back.
Specify what is included in the Money SupplySolutionAns .pdfakritigallery
Specify what is included in the \"Money Supply\"
Solution
Ans : The money supply is commonly defined to be a group of safe assets that households and
businesses can use to make payments or to hold as short-term investments.For example, U.S.
currency and balances held in checking accounts and savings accounts are included in many
measures of the money supply.
The entire stock of currency and other liquid instruments in a country\'s economy as of a
particular time. The money supply can include cash, coins and balances held in checking and
savings accounts.
In economics, the money supply or money stock is the total amount of monetary assets available
in an economy at a specific time. There are several ways to define \"money,\" but standard
measures usually includecurrency in circulationand demand deposits.
In monetary economics, circulation refers to the continuing use of individual units of a currency
for transactions. Thus currency in circulation refers to the total value of currency (coins and
paper currency) that has ever been issued minus the amount that has been removed from the
economy by the central bank. More broadly, money in circulation refers to the total money
supply of a country, which can be defined in various ways always including currency and also
including some types of bank deposits.
Demand deposits, bank money or scriptural money are funds held in demand deposit accounts in
commercial banks. These account balances are usually considered money and form the greater
part of the narrowly defined money supply of a country.
Demand deposits are usually considered part of the narrowly defined money supply, as they can
be used, via checks and drafts, as a means of payment for goods and services and to settle debts.
The money supply of a country is usually held to consist of currency plus demand deposits. In
most countries, demand deposits account for a majority of the money supply.
There are several standard measures of the money supply, including the monetary base, M1, and
M2. The monetary base is defined as the sum of currency in circulation and reserve balances
(deposits held by banks and other depository institutions in their accounts at the Federal
Reserve). M1 is defined as the sum of currency held by the public and transaction deposits at
depository institutions (which are financial institutions that obtain their funds mainly through
deposits from the public, such as commercial banks, savings and loan associations, savings
banks, and credit unions). M2 is defined as M1 plus savings deposits, small-denomination time
deposits (those issued in amounts of less than $100,000), and retail money market mutual fund
shares..
spaceSolution Lets say we have a vector sp.pdfakritigallery
space
Solution
Let\'s say we have a vector space P2 as the set of all 2nd degree polynomials of
degree exactly 2. So let\'s take ax^2 + bx + c and -ax^2 +dx + e which are both in P2. Since P2
is a vector space, then it is closed under addition. If we added the two vectors above, we get a
vector who\'s at most in the 1st degree. Does that help?.
Sorting Questions (JAVA)
See attached classes below.
Attached Classes
-------------------------------------------
Patient.java
package A9.toStudents;
public class Patient implements Comparable{
//attributes
private int order;
private String name;
private boolean emergencyCase;
//constructor
public Patient(int order, String name, boolean emergencyCase) {
this.order = order;
this.name = name;
this.emergencyCase = emergencyCase;
}
//compareTo
public int compareTo(Patient other) {
if(this.isEmergencyCase() && !other.isEmergencyCase())
return -1; //place this first
else if(!this.isEmergencyCase() && other.isEmergencyCase())
return 1; //place other first
else //if both are emergency or both are not emergency
return this.getOrder()-other.getOrder(); //place smaller order first
}
//getters and setters
public int getOrder() {
return order;
}
public void setOrder(int order) {
this.order = order;
}
public String getName() {
return name;
}
public void setName(String name) {
this.name = name;
}
public boolean isEmergencyCase() {
return emergencyCase;
}
public void setEmergencyCase(boolean emergencyCase) {
this.emergencyCase = emergencyCase;
}
public String toString() {
return (isEmergencyCase()?\"*\":\"\") + name;
}
}
--------------------------------------------------------
PatientComparator.java
package A9.toStudents;
import java.util.Comparator;
public class PatientComparator implements Comparator{
public int compare(Patient p1, Patient p2) {
if(p1.isEmergencyCase() && !p2.isEmergencyCase())
return -1; //place p1 first
else if(!p1.isEmergencyCase() && p2.isEmergencyCase())
return 1; //place p2 first
else //if both are emergency or both are not emergency
return p1.getOrder()-p2.getOrder(); //place smaller order first
}
}
---------------------------------
PatientTestQ12.java
package A9.toStudents;
import java.util.ArrayList;
public class PatientTestQ12 {
public static void main(String[] args) {
ArrayList list = new ArrayList<>(5);
list.add(new Patient(1, \"p1\", false));
list.add(new Patient(2, \"p2\", false));
list.add(new Patient(3, \"p3\", true));
list.add(new Patient(4, \"p4\", false));
list.add(new Patient(5, \"p5\", true));
//before sorting
System.out.printf(\"%-15s%25s\ \", \"Before sorting\", list); //should be [p1, p2, p3, p4, p5]
//try bubble sort methods for Q1
//Sorter.bubbleSort(list);
//Sorter.bubbleSort(list, new PatientComparator());
//other sort methods for Q2
//Sorter.selectionSort(list);
//Sorter.insertionSort(list);
//after sorting
System.out.printf(\"%-15s%25s\ \", \"After sorting\", list); //should be [p3, p5, p1, p2, p4]
}
} In this assignment, you will build a class that can be used to sort a list of patient using
different algorithms, and you will also compare the time efficiency of these algorithms
Download the following files from Connect to help you work on this assignment: Patient.java
PatientComparator.java PatientTestQ12.java Q1. Create a class called Sorter that has two static
methods: (10 marks) public static void bubbleSo.
Sony PlayStation network hack in 2011PlayStation and Qriocity acco.pdfakritigallery
Sony PlayStation network hack in 2011
PlayStation and Qriocity account holders
Concerned about the status of their personal and financial information.
Want to know why the service outages are occurring and more importantly when service will be
back to normal.
What action is Sony taking to solve the problems?
Sony customers worldwide
Many are longstanding and loyal customers that associate the Sony brand with high quality.
Could be discouraged from purchasing future Sony electronic items if their perception of the
company is changed.
The general public
As potential Sony customers, they are influenced by reputation and reliability.
Many will be exposed to how Sony handles the network crisis by the media.
Industry analysts
Will be evaluating Sony’s capabilities to see if it has the proper resources to address the network
problem.
Will be comparing Sony to other products in the industry and other problems that have occurred
in recent years.
Financial investors
Are concerned about Sony’s stock price and value.
Will be looking to see what kind of leadership and action plan are given to solve the problem.
Consumer protection groups
Concerned for the fair treatment of consumers.
Desire that important information is disclosed to the public.
Government officials
Concerned for the safety and security of citizens.
Monitor organizations to ensure that products and services adhere to laws and guidelines.
Please do the following:
Rank order which stakeholder groups were most important and why.
Add at least three additional topics and then rank order the list.
Provide a brief statement where you explain your ranking.
Do you have any comments comments or ideas that made you think differently or give you
insights, etc? What? Why?
The LIST (in random order)
Key dates and the cause of the network intrusion.
What account information may have been compromised.
What actions Sony has taken so far to correct the problem.
The actions Sony is planning to take.
[fill in]
[fill in]
[fill in]
[fill in]
[fill in]
Solution
The action of S for solving the problem:
The company launched a new version 3.61 for tighter security reason. A user needs to have a
new password while signing in.
Stakeholder rank is as below:
1. Financial investors: They lend money to the company with utmost good faith. Therefore, their
dues should be protected first.
2. Company’s customers worldwide: Customers create demand of product. There should not be
any chance of getting their loyalty down.
3. General public: They are the potential customers of company’s products. The company has to
hold the goodwill; otherwise such potentiality could be lost.
4. Government officials: They have to be pleased by company’s performances, otherwise future
sanctions and approvals could not be passed.
5. Consumer protection groups: They are also like government officials. The company has to
create a clean image in-front of them.
6. Industry analyst: They must be ensured about the good performance in future. This is req.
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
MARUTI SUZUKI- A Successful Joint Venture in India.pptx
Starz Department Store is located near the Towne Shopping Mall. At t.pdf
1. Starz Department Store is located near the Towne Shopping Mall. At the end of the company’s
calendar year on December 31, 2014, the following accounts appeared in two of its trial
balances.
Unadjusted
Adjusted
Unadjusted
Adjusted
Accounts Payable
$ 80,000
$ 97,966
Interest Revenue
4,880
4,880
Accounts Receivable
61,366
61,366
Inventory
91,500
91,500
Accumulated Depr.—Buildings
51,362
64,050
Mortgage Payable
97,600
97,600
Accumulated Depr.—Equipment
36,112
52,338
Prepaid Insurance
11,712
2,928
Buildings
353,800
353,800
Property Tax Expense
3. Sales Returns and Allowances
9,760
9,760
Interest Expense
3,660
10,492
Utilities Expense
13,420
14,640
Interest Payable
6,832
Prepare a multiple-step income statement. (List other revenues before other expenses.)
STARZ DEPARTMENT STORE
Income Statement
For the Year Ended December 31, 2014
DividendsExpensesNet Income / (Loss)Retained Earnings , December 1, 2012Retained Earnings
, December 31, 2012Sales RevenueTotal ExpensesTotal RevenuesNet SalesGross
ProfitOperating ExpensesTotal Operating ExpensesIncome from OperationsOther Revenues and
GainsOther Expenses and Losses
$
LessAdd:
DividendsExpensesNet Income / (Loss)Retained Earnings , December 1, 2012Retained Earnings
, December 31, 2012Sales RevenueTotal ExpensesTotal RevenuesNet SalesGross
ProfitOperating ExpensesTotal Operating ExpensesIncome from OperationsOther Revenues and
GainsOther Expenses and Losses
DividendsExpensesNet Income / (Loss)Retained Earnings , December 1, 2012Retained Earnings
, December 31, 2012Sales RevenueTotal ExpensesTotal RevenuesNet SalesGross
ProfitOperating ExpensesTotal Operating ExpensesIncome from OperationsOther Revenues and
GainsOther Expenses and Losses
DividendsExpensesNet Income / (Loss)Retained Earnings , December 1, 2012Retained Earnings
, December 31, 2012Sales RevenueTotal ExpensesTotal RevenuesNet SalesGross
ProfitOperating ExpensesTotal Operating ExpensesIncome from OperationsOther Revenues and
GainsOther Expenses and Losses
$
DividendsExpensesNet Income / (Loss)Retained Earnings , December 1, 2012Retained Earnings
, December 31, 2012Sales RevenueTotal ExpensesTotal RevenuesNet SalesGross
4. ProfitOperating ExpensesTotal Operating ExpensesIncome from OperationsOther Revenues and
GainsOther Expenses and Losses
DividendsExpensesNet Income / (Loss)Retained Earnings , December 1, 2012Retained Earnings
, December 31, 2012Sales RevenueTotal ExpensesTotal RevenuesNet SalesGross
ProfitOperating ExpensesTotal Operating ExpensesIncome from OperationsOther Revenues and
GainsOther Expenses and Losses
DividendsExpensesNet Income / (Loss)Retained Earnings , December 1, 2012Retained Earnings
, December 31, 2012Sales RevenueTotal ExpensesTotal RevenuesNet SalesGross
ProfitOperating ExpensesTotal Operating ExpensesIncome from OperationsOther Revenues and
GainsOther Expenses and Losses
DividendsExpensesNet Income / (Loss)Retained Earnings , December 1, 2012Retained Earnings
, December 31, 2012Sales RevenueTotal ExpensesTotal RevenuesNet SalesGross
ProfitOperating ExpensesTotal Operating ExpensesIncome from OperationsOther Revenues and
GainsOther Expenses and Losses
DividendsExpensesNet Income / (Loss)Retained Earnings , December 1, 2012Retained Earnings
, December 31, 2012Sales RevenueTotal ExpensesTotal RevenuesNet SalesGross
ProfitOperating ExpensesTotal Operating ExpensesIncome from OperationsOther Revenues and
GainsOther Expenses and Losses
$
SHOW LIST OF ACCOUNTS
LINK TO TEXT
LINK TO TEXT
Prepare retained earnings statement. (List items that will increase retained earnings first.)
STARZ DEPARTMENT STORE
Retained Earnings Statement
For the Year Ended December 31, 2014
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings,
December 31RevenueTotal ExpensesTotal RevenuesNet Income
$
AddLess: DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained
Earnings, December 31RevenueTotal ExpensesTotal RevenuesNet Income
LessAdd: DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained
Earnings, December 31RevenueTotal ExpensesTotal RevenuesNet Income
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings,
December 31RevenueTotal ExpensesTotal RevenuesNet Income
$
5. SHOW LIST OF ACCOUNTS
LINK TO TEXT
LINK TO TEXT
Prepare a classified balance sheet. $19,520 of the mortgage payable is due for payment next year.
(List current assets in order of liquidity. Property, plant and equipment list in order of land,
buildings and equipment.)
STARZ DEPARTMENT STORE
Balance Sheet
December 31, 2014
Assets
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term
LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders'
EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible
AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term
InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal
Stockholders' EquityOwner's Equity
$
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term
LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders'
EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible
AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term
InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal
Stockholders' EquityOwner's Equity
$
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term
LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders'
EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible
AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term
InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal
Stockholders' EquityOwner's Equity
$
LessAdd:
LessAdd:
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term
LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders'
EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible
6. AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term
InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal
Stockholders' EquityOwner's Equity
$
Liabilities and Stockholder's Equity
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term
LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders'
EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible
AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term
InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal
Stockholders' EquityOwner's Equity
$
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term
LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders'
EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible
AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term
InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal
Stockholders' EquityOwner's Equity
$
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term
LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders'
EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible
AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term
InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal
Stockholders' EquityOwner's Equity
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term
LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders'
EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible
AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term
InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal
Stockholders' EquityOwner's Equity
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term
LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders'
EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible
AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term
InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal
7. Stockholders' EquityOwner's Equity
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term
LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders'
EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible
AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term
InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal
Stockholders' EquityOwner's Equity
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term
LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders'
EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible
AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term
InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesTotal
Stockholders' EquityOwner's Equity
$
SHOW LIST OF ACCOUNTS
LINK TO TEXT
LINK TO TEXT
Journalize the adjusting entries that were made. (Credit account titles are automatically indented
when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Dec. 31
(To adjust depreciation on building and equipment.)
Dec. 31
(To adjust insurance expense.)
Dec. 31
(To adjust interest expense.)
Dec. 31
(To adjust property tax expense.)
Dec. 31
(To adjust sales commissions expense.)
Dec. 31
(To adjust utilities expense.)
8. Journalize the closing entries that are necessary. (Credit account titles are automatically indented
when amount is entered. Do not indent manually.)
No.
Account Titles and Explanation
Debit
Credit
1.
(To close accounts with credit balances.)
2.
(To close accounts with debit balances.)
3.
(To close net income / (loss).)
4.
(To close dividends.)
Starz Department Store is located near the Towne Shopping Mall. At the end of the company’s
calendar year on December 31, 2014, the following accounts appeared in two of its trial
balances.
Unadjusted
Adjusted
Unadjusted
Adjusted
Accounts Payable
$ 80,000
$ 97,966
Interest Revenue
4,880
4,880
Accounts Receivable
61,366
61,366
Inventory
91,500
91,500
Accumulated Depr.—Buildings
51,362
