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The Financial Statements

Income Statement, Owner's Equity Statement & Balance Sheet

Excel Spreadsheet Only: Based on the information provided in previous tasks, prepare an Income Statement and Balance Sheet for Jone's Home Inspection as of December 31, 2007. Don will need these to prepare his 2007 tax return. Prepare an Income Statement, Owner's Equity Statement and Balance Sheet.

Discussion: usefulness of consolidated statements, push-down, negative goodwill

1. Are consolidated financial statements likely to be more useful to the owners of the parent company or to the non-controlling owners of the subsidiaries? Why? 2. What is push-down accounting? Under what conditions is push-down accounting considered appropriate? What happens to the differential when push-down accounting is u

Financial statements

For each financial statement , ie Balance Sheet , Statement of Income , Statement of Stockholders Equity and Statement of Cash Flows : -Summarize what the purpose of the financial statement is . -Provide a brief outline of how you would read the financial statement . What would be important to you when you are reading the

Balance sheet

Please see attached. Balance Sheet for a Company A firm's current balance sheet is as follows: Assets $100 Debt $10 Equity $90 a. What is the firm's weighted-average cost of capital at various combinations of debt and equity, given the following information? Debt/Assets After-Tax Cost of Debt Cost

Retained earnings

Please see attached The financial statement columns of the work sheet for Video Concepts at December 31, 2003 are as follows: Video Concepts Work Sheet For the Year Ended December 31, 2003 Income Statement Balance Sheet Accounts Debit Credit Debit Credit Cash 14,000 Accounts Receivable

Analysing the notes to financial statements

Apollo Group is a publicly held company and should be used as the basis for this assignment. I suggest you go to www.apollogrp.edu/annual-reports/2007.pdf. The financial statements begin on page 61 with the auditor's report and the notes to the financials begin on page 67 and run through page 103. Prepare a 700-1,050-word resp

Thompson Company: Consolidated Balance Sheet

Thompson Company spent $240,000 to buy all of Lake Corporation's stock on January 1,20X2. The Balance sheets of the two companies on December 31,20X3, showed the following amounts: [Please see the attached document] Lake reported retained earning of $100,000 at the date of acquisition. The difference between the purchase

Develop a 1-2 page vision statement of what your life will look like in 5 years.

Vision statements are used as a tool to encourage you to consciously reflect on who you are now, what transitions you will be making and who you will be in five years. A vision statement is a work in progress; you can reassess your vision statement as you move through this course. Assessment is a key component of this assignment

Projected Pro forma statements and sales goals

Please clarify regarding projected Pro forma statements and sales goals. These forecasted statements are supposed to help businesses set goals but how can they be dependable in a fluctuating economy? In a stable economy, I can understand but with an unsure economy, it would appear to be questionable projecting anything.

Financial statements of Landry's Restaurants

Using the financial statements of Landry's Restaurants located in Appendix A of the text, Fundamentals of Financial Accounting 1st ed., by Phillips, Libby, and Libby, compute the following ratios for 2002 and 2003: a. Earnings per share b. Return on assets c. Current ratio d. Times interest earned e. Asset turnover f. Debt

2005: Preparing a Statement of Cash Flows

Balance Sheet Dec 31, 2004 Cash 50,000 A/R 27,000 Inventory 80,000 LT Invest 10,000 Land 32,000 Plant/equ 91,000 Total Assets 290,000 A/P 17,000 Taxes/P 3,000 Bonds/P 100,000 Cap Stock 75,000 RE 95,000 Total Lia/Stock Equity 290,000 The following occurred

Income Statement, Retained Earnings, and Balance Sheet

Given the following year-end balances, prepare an income statement, statement of retained earnings, and a classified balance sheet. Accounts payable $2,550 Accounts receivable 3,550 Accumulated depreciation 6,250 Beginning retained income 6,450 Cash 2,300 Cost of goods sold 52,300 Depreciation expense 2,500 Di

Regression Analysis of Income statement income and Expenses

Use attached revenue and expense data from 2004-2008 perform a regression analysis using expense formula, Y = a + bx, where x is revenue. Based on your regression findings, what is the operating leverage of this company? Explain what this means for this company. Calculate the estimated contribution margin for this comp

Eric's Bike Shop: Prepare a Corrected Balance Sheet

See attached file. 1. A friend of yours has prepared the following balance sheet for his bicycle shop but it has a problem. He thought his total assets did not reflect the assets available to the firm. He has asked you to take a look at this balance sheet and help him out. Eric's Bike Shop, Inc. Balance Sheet As of Decem

How to prepare horizontal and vertical analysis

My book does not tell me how to prepare the common-size income/balance sheets. I'm pretty sure I understand how to do the comparative statements, but am completely baffled by common-size. Please help! Please see ** ATTACHED ** for complete details!!

Financial Statement Performance of Coca-Cola and Pepsi

** Please see the attached files for the necessary data ** Make a recommendation, emphasizing the financial statement performances of Coca-Cola and Pepsi. Attached is a ratio calculations and financials for both companies.

Prepare a statement of cash flows for Reyser Corporation for the year 2008

Can you help me get started with this assignment? .............................December 31 ........................2008.......2007 Cash....................$90,000....$27,000 Accounts Receivable.....$92,000....80,000 Allowance for Doubtful Accounts.......(4,500)....(3,100) Inventory...............155,000....175,000 Pre

Given the financial statements, calculate nine ratios

Use the following information from the current year financial statements of a company to calculate the ratios below: (a) Current ratio. (b) Accounts receivable turnover. (Assume the prior year's accounts receivable balance was $100,000.) (c) Days' sales uncollected. (d) Inventory turnover. (Assume the prior year's inventor

Reviewing basic financial statements form and content for Conica, Inc.

See attached Excel file. The income statement for the year ended December 31, 2006, the balance sheets for December 31, 2006, and 2005, and the statement of retained earnings for the year ended December 31, 2006, for Conica, Inc. are attached. Briefly discuss the form and informational content of each of these statements.

Taylorsville B/S, Pickard Income Stmt, Edgemont RE, Cash flow classifications

Chapter 2 : Exercise 2-25, 2-27 (only part 1) 2-29, 2-32 and 2-33 2-25 Balance Sheet Preparation From the following data, prepare a classified balance sheet for Taylorsville Construction Company at December 31, 2009. Accounts payable . . . . . . . . . . . . . . . . . . . . . . $ 74,300 Accounts receivable . . . . .

P23-8 Comparative Balance Sheet Accounts of Jensen Company

P23-8 Comparative balance sheet accounts of Jensen Company are presented below. JENSEN COMPANY COMPARATIVE BALANCE SHEET ACCOUNTS DECEMBER 31, Debit Balances 2007 2006 Cash $80,000 $51,000 Accounts receivable 145,000 130,000 Merchandise inventory 75,000 61,000 Investments (Available-for-sale) 55,000 85,000 Equipment

P-2-2A Judi Dench transactions: Journalize, post and prepare a trial balance

The (SO ARE IN THE ATTACHMENTS) P2-2A Judi Dench is a licensed architect. During the first month of the operation of her company, Judi Dench, Inc., the following events and transactions occurred. April 1 Stockholders invested $25,000 cash in exchange for common stock. 1 Hired a secretary-receptionist at a salary of $300 p

Consolidated balances; consolidated financial statements

Attached is a spreadsheet I created with Bowen and Duncan's financial statements for year ended Dec. 31, 2009. Bowen acquired 60% of Duncan on April 1, 2009, for $526,000. On that date, equipment (with a 5 year life) was overvalued by $30,000. Also on that date, the fair value of the 40% noncontrolling interest was $300,000.

Communication of Balance Sheets

What do balance sheets and income statements communicate? What do statements of retained earnings communicate? What do statements of cash flows communicate? How do the primary financial statements work together? Why are they important to an organization?

Landry's Restaurants: analyzing financial statements

Can you help me understand this question? Using the financial statements of Landry's Restaurants compute the following ratios for 2002 and 2003: a. Earnings per share b. Return on assets c. Current ratio d. Times interest earned e. Fixed Asset turnover f. Debt to total assets g. Curr

E13-9 Maury Company has these comparative balance sheet data:

E13-9 Compute the following ratios at December 31, 2007. E13-9 Maury Company has these comparative balance sheet data: MAURY COMPANY Balance Sheets December 31 2007 2006 Cash $ 25,000 $ 30,000 Receivables (net) 65,000 60,000 Inventories 60,000 50,000 Plant assets (net) 200,000