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The Financial Statements

INTERPRETING FINANCIAL STATEMENTS/liquidity ratios/profitability ratios

BYP4-10 Manitowoc Company and Caterpillar Corporation are both producers and sellers of large fixed assets. Caterpillar is substantially larger than Manitowoc. Financial information taken from each company's financial statements is provided below. Instructions (a) Calculate the following liquidity ratios for the current year

Percent-of-sales method question

Where I am stuck is in using the percent-of-sales method to develop a projected income statement and balance sheet. The company I am using is PepsiCo and I am supposed to develop these statements based on their 2004 statements from their website. Here is a copy of what the instructor is asking: "Develop a set of projected

Pro forma Financial Statements

I need to complete a set of proforma financial statements using the attached mini case study. I also need to answer a few questions about the financial statement. I will attach the case study in adobe. It begins on pg 99 and is about a company Home Safety Inc. the finacial statements need to be done in Microsoft excel. I will al

What is the amount of cash on the balance sheet?

The amount of cash related to a particular bank checking account that is shown on the balance sheet at December 31 is: A. The cash balance shown on the bank's records at the close of business on December 31. B. The cash balance shown in the company's general ledger account for this checking account at the close of busi

Using purposes statements, write a 1-sentence objective for a presentation

Using purposes statements, write a 1-sentence objective for a presentation Here are the purpose statements: ? Explain corporate financial results. ? Demonstrate a product. ? Explain the results of a scientific study. ? Explain the consequences/benefits of the company's merger with an outside group. Example: if the pu

Finacial statements - 6 parts

PART I - MULTIPLE CHOICE Instructions: Designate the best answer for each of the following questions. Use the following data for questions 1 and 2 below: Quinn Company bought real estate, on which there was an old office building, for $400,000. They paid $40,000 in cash as a down payment and signed a 10% mortgage for

Financial statements

1. What are the differences between Notes Receivable and Accounts Receivable? 2. What are the benefits of disposing of Accounts Receivable? 3. What is the criterion for capitalizing a cost as opposed to expensing a cost? 4. What are the benefits of effective asset management? 5. What is the rationale for disclosing assets se

Info Financial Statements

Please below for problems. Thanks Problems (also attached): 2. What are some common types of receivables other than accounts receivable and notes receivable? 10. An article recently appeared in the Wall Street Journal indicating that companies are selling their receivables at a record rate. Why are companies selling the

Multiple choice / True or False Questions regarding financial statements

Please state why you choose your selection so I can understand the question better. 1. Which of the following compliance issues affects users and producers of financial statements, including pro forma financial statements? a. editing requirements b. auditing and legal requirements c. ethical obligations d. timel

Financial statements

Instructions (a) Prepare a multiple-step income statement. (b) Prepare a single-step income statement. (c) Prepare a retained earnings statement. (d) Prepare a classified balance sheet. Please see attached. Presented below is financial information related to Vi-Gro Corporation for the year 2002. Unless otherwise

Financial Statements

Selected amounts at December 31, 2003 from the Hay and Barnabas Company's information system appear as follows: Cash Paid employees for salaries and wages $ 300,000 Cash collected from sales customers $1,850,000 Bonds payable $ 500,000 Cash $ 150,000 Common Stock $ 60,000 Equipment


Two accounting problems: The completed financial statment columns of the work sheet for Panaka Company... a. Prepare an income statement, a retained earnings statement, and a classified balance sheet b. Prepare the closing entries. Please see attached.

Accounting Statements and Forecasting: Micro Chip Computer Corporation

Https:// (Use this link above to answer the following questions) Click here for selected financial statements for Micro Chip Computer Corporation. Answer questions 1 and 2 below based on the financial data. 1. Determine the year-to-year percenta

Financial statements

3. Use the Percentage Sales Method and a 20% increase in sales to forecast Apples' Consolidated Statement of Operations for the period September 26, 2004 through September 25, 2005. Assume a 15% tax rate and restructuring costs of 2% of the new sales figure. 4. Discuss your results from question number #3. What assumptions h

Financial Statements and the Related Accounts

What is the purpose of an income summary account? What accounts appear on the income statement? What accounts appear on the statement of retained earnings? What accounts appear on the balance sheet? What is the difference between a classified and unclassified balance sheet?

Use of worksheet in preparing financial statements

Please help with the following problems about financial accounting and bookkeeping. What is the 10-column worksheet used to prepare? Do the debits and credits on the income statement columns balance? Why or why not? Do the debits and credits on the balance sheet columns balance? Why or why not? What types of acco

Ratios etc.

1. On its 1999 balance sheet, Sherman Books showed a balance of retained earnings equal to $510 million. On its 2000 balance sheet, the balance of retained earnings was also equal to $510 million. Which of the following statements is most correct? a. The company must have had net income equal to zero in 2000. b. The compan

Balance sheet, income statement, retained earnings

Please see the attached files for full problem description. Prepare a balance sheet, an income statement and a statement of retained earnings and fill in the cash part " Work Sheet Account title: Debit Credit Cash ? Revenue $94,200 Prepaid i

Transactions, financial statements

On August 1st, 2006 Shad Menard established Centillion Reality. Shad completed the following transactions during the month of august. a-opened a business bank account with a deposit of 15,000 from personal funds. b- paid rent on office and equipment for the month, 2,400 c-paid automobile expenses including rental charge for

Financial statements

The amouts of assets and liabilities of Chickadee Travel service at April, 30th 2006, the end of the current year, and its revenue and expenses for the year are listed below. The capital of Adam Cellini, owner was 50,000 at May 1, 2005, the beginning of the current year, and the owner withdrew 30,000 during the current year.


Duane Mays established an insurance agency on July 1 of the current year and completed the following transactions during July. a, opened a business bank account with a deposit of $18,000 from personal funds. b-purchased supplies on account. 950.00 c-paid creditors on account 575.00 d recieved cash from fees earned on insur

Accounting: Explain the effect of operating profitably on the balance sheet of a business entity. Does the receipt of cash by a business indicate that revenue has been earned? Does the payment of cash by a business indicate that an expense has been incurred?

Explain the effect of operating profitably on the balance sheet of a business entity. Does the receipt of cash by a business indicate that revenue has been earned? Does the payment of cash by a business indicate that an expense has been incurred?

Accounting: 15 questions about ratio analysis, margins, budgeting, proforma

1. What is not one of the four different methods of analyzing financial statements? A. Ratio analysis B. Trend analysis C. Lateral analysis D. Vertical analysis 2. What type of ratio helps determine a company's ability to generate sufficient cash to meet its obligations? A. Liquidity ratios B. Prof

Which of the following statements is correct?

Which of the following statements is correct? a.If a company is retiring bonds for sinking fund purposes, it will buy back bonds on the open market when the coupon rate is less than the market interest rate b.A bond sinking fund would be good for investors if interest rates have declined after issuance and the investor'