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The Financial Statements

Financial Statements Paper

Please help prepare a paper in which you define the purpose of accounting and identify the four basic financial statements. Explain how they are interrelated with each other, and why they are useful to managers, investors, creditors, and employees. Format your paper according to APA standards.


2. Biven Corporation's balance sheet and income statement appear below: Increase BALANCE SHEETS (Decrease) 2006 2005 Amount Percent ASSETS Cash & equivalents $35,000 $30,000 Accounta receivable 54,000 49,000 Inventory 67,000 58,000 Plant & equipment 580,000 530,000 Accumulated de

Problem 5: financial statement captions and categories

See attached file for Word Format Listed below are a number of financial statement captions. Indicate in the spaces to the right of each caption (1) the category of each item, and (2) the financial statement(s) on which the item can usually be found. Category Financial Statement Asset A Balance Sheet BS Liability L In

Presenting financial statement fraud

In an organization, who is generally responsible for the financial statements, and how can this individual or individuals help to deter financial statement fraud?

Todd Motor Company: Cost of head lamps; explain financial statement treatment

Todd Motor Company manufactures automobiles. During September 2008 the company purchased 5,000 head lamps at a cost of $9 per lamp. Todd withdrew 4,650 lamps from the warehouse during the month. Fifty of these lamps were used to replace the head lamps in autos used by traveling sales staff. The remaining 4,600 lamps were put in

Preparation of complete financial statement analysis

Please help in showing me how to present this information in a professional manner using persuasive arguments. I would like an example of how an professional analysis would look like, so I can better understand how to prepare one. I need to be able to demonstrate an example of an executive Summary with overall assessment.

Consolidated Balance Sheet

The following summarised information relates to the balance sheet of the Tornado group of companies as at 31 March 2003. Tornado plc Hurricane Ltd Typhoon Ltd £000 £000 £000 Tangible fixed assets at net book value 4,000 2,100 1,700 Investments 1.4m ordinary shares in Hurricane Ltd 5,000 - - 900,000 ordinar

What is the effect of transactions on the financial statements for Chandra Co.?

The following selected transactions were taken from the books of Chandra Company for 2010. 1. On February 1, 2010, borrowed 60,000 cash for the local bank. The note had a 6 percent interest rate and was due on June 1, 2010. 2. Cash sales for the year amounted to 310, 000 plus sales tax at the rate of 7%. 3. Chandra provi

Effects of each transactions on the balance sheet category

Show the effect, if any, of each of the transactions on the appropriate balance sheet category by entering the amount and indicating whether it is an addition or subtraction A. Wages of $768 accrued at the end of the prior fiscal period were paid this fiscal period B. Real estate taxes of $2400 applicable to the current pe

Common size statements

A) For the income statement, what is base amount used for calculations? b) Assess the meanings for the metrics in the common size statements and expand on that discussion in two examples.

Financial Statements for Manufacturing & Merchandising Companies

Base One Equipment (BOE) and Camping Supplies International (CSI) both sell tents. BOE purchases its tents from a manufacturer for $96 each and then sells them for $180. It purchased 10,000 tents in 20X4. CSI produces its own tents. In 20X4 CSI produced 10,000 tents. Costs were as follows: Direct materials purchased $570,000

Perpetual system

Cash 8400 Inventory 2000 Common stock 8000 Retained Earnings 2400 During 2012, D & L Enterprises experienced the following events: 1. purchased inventory costing 5600 on account from Smoot Company under terms 2/10, n/30. The merchandise was delivered FOB shipping point. Freight costs of 500 were paid in cash. 2. Returned

Importance of Accurate Costs

1. Determine why it is so important to have accurate costs. Name 3 specific areas of the financial statements that can be drastically misstated by having too high or too low of costs. What are the consequences of such errors? 2. Think of another area the internet has affected an industry or niche market. Explain why you think

Prepare balance sheet

From the following accounts and amounts prepare a balance sheet for the Swell Company for December 31, 2010. You must compute the amount for retained earnings to complete the balance sheet. (see list of accounts attached)

financial statements

What are the main financial statements? In order of importance, list the statements. Why did you rank the statements in the order you did? Why does GAAP require all statements? Why is it necessary to prepare the formal financial statements if all the data are on the adjusted trial balance?

Balance Sheet and Market Value of Visa Inc and Discover

Refer to Visa most recent balance sheet. Review the 'liabilities and equity side' of the balance sheet. (a) Short term liabilities (or debt) and long term liabilities Find our from the balance sheet of the company the total of the short term liabilities (also called 'short term debt') and long term liabilities (also called 'l

Balance Sheet. (create in Excel and reflect changes)

Renfro Co Balance Sheet As of December 31, 2001 Cash- 90,000 Accounts Receivable (Net)- 52,200 Investments- 76,300 Inventories- 57,000 Equipment (Net)- 86,000 Patents- 32,000 Accounts Payable- 75,000 Long-Term Liabilities-110,000 Stockholders' Equity- 208,500 The following addition

Balance Sheet Classification

Indicate which items are classified under the balance sheet. Match the letter to the answer. a. Current Assets b. Investments c. Plant assets d. Intangible assets e. Other assets f. Current liability g. Long-term liability h. Capital stock i. Additional paid-in capital j. Retained earnings k. Notes to financial sta

Balance Sheet, Income Statement, Cash Flows

Report the major components of your companies' {AT&T (T) and Vonage (VG)} Cash Flow Statements, and discuss your understanding of what the numbers tell us about the companies' performance. Also include the numbers from the balance sheet and income statement, because looking at all the statements together can help to understa

Accrual of wages impacting financial statements

An accrual of wages expense would produce what effect on the balance sheet? a. Increase liabilities and increase equity b. Decrease liabilities and increase equity c. Increase expenses and increase liabilities d. Decrease assets and decrease liabilities

Deciphering Financial Statements Ford Motor Co.

All dollar amounts are in millions 2007 2006 Land..........................................................$ 764 $803 Buildings and land improvements..............$14,402 $13,719 Machinery, equipment and other................$45,303

Analyzing financial statements - Gary TV

Gary's TV had the following accounts and amounts in its financial statements on December 31, 2010. Assume that all balance sheet items reflect account balances at December 31, 2010, and that all income statement items reflect activities that occurred during the year then ended. Interest expense.............................

Financial statement category and relationships: find amounts

See attached for better formatting... "Indicate in the space provided the category of each item and the financial statement on which the item can usually be found." Category Description: Category Financial Statement Asset (A) Accumulated Depreciation Liability (L) Long term Debt Owners' Equity (OE) Equipment Re

Financial Accounting: classified balance sheet

Please see attached file for better format: (Preparation of a Balance Sheet) Presented below is the trial balance of Vivaldi Corporation at December 31, 2010. Instructions: Cash $ 197,000 Sales $ 7,900,000 Trading Securities (