Unit a couple of Assignment David Schlosser

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 Essay about Unit 2 Assignment David Schlosser

п»їE4-4

Dennis Savard Inc

"balance sheet"

Dec 23, 2014

Resources

Current Property

Cash

Much less: cash constrained for plant expansion

Accounts Receivable

Less: Allowance intended for doubtful accounts

Notes Receivable

Receivables – officers

Arrays

Raw Materials

Work in Process

Done Goods

Long lasting Investments

Desired stock assets

Land kept for long term plant internet site

Cash restricted for herb expansion

Property, plant and equipment

Building

Less: Accumulated Depreciation

Intangible Assets

Copyrights

Total Property

Liabilities and Equity

Current Liabilities

Built up salaries payable

Notes payable

Unearned hire revenue

Unearned subscriptions earnings

Long Term Personal debt

Bonds payable

Less: price cut on you possess payable

Total liabilities

Stockholder's equity

Capital stock:

Prevalent stock

Further pain-in capital

Premium upon common inventory

Retained revenue

Retained profits

Less: treasury stock

Total stockholder's fairness

Total financial obligations and stockholder's equity

E4-9

(a)

Allessandro Scarlatti Organization

Partial Balance Sheet

As of 12 , 31, 08

Current possessions

Cash $34, 396

Accounts receivable $91, 300

Less allowance to get doubtful accounts (7, 000)84, 300

Arrays 159, 000

Prepaid expenses 9, 000

Total current assets $286, 696

Current liabilities

Accounts payable $115, 000

Remarks payable fifty five, 000

Total current liabilities $170, 500

(b)

Adjusting to maintained earnings harmony:

Add: January sales savings $476

Deduct: January product sales $30, 500

January purchase discounts ($39, 000 Times 2%) 780

December purchases15, 000

Consignment inventory 12, 000 (57, 780 )

Change (decrease) to stored earnings$(57, 304)

E5-6

(a)

Multiple-Step Form

Kooks Shoe Co.

Income Declaration

For the entire year Ended December 31, 2008

Net Sales $980, 1000

Cost of Merchandise Sold 496, 000

Low profit484, 500

Operating Expenses

Selling expenses

Wages and salaries $114, 800

Supplies and supplies17, 600

Depreciation expense45, 500177, 900

Administrative expenses

Pay and wages 135, 900

Depreciation expense19, 500

Different admin. expenses 51, seven-hundred 207, 75 385, 1000

Income by operations99, 1000

Other Revenues and Benefits

Rental income 29, 000

128, 500

Other Bills and Failures

Interest charge 18, 1000

Income prior to income tax one hundred ten, 000

Income tax 37, 500

Net income $72, 600

Income per discuss ($72, six-hundred Г· 20, 000) $3. 63

(b)

Single-Step Contact form

Kooks Footwear Co.

Income Statement

Intended for the Year Ended December thirty-one, 2008

Profits

Net revenue $980, 500

Rental earnings 29, 500

Total revenues 1, 009, 000

Bills

Cost of goods sold 496, 000

Selling expenses 177, 900

Administrative expenses 207, 100

Curiosity expense 18, 000

Total expenses 899, 000

Salary before taxation 110, 1000

Income taxes thirty seven, 400

Net gain $72, six hundred

Earnings every share $3. 63

(c)

Personally, I favor the multi-step income statement because it offers you more information. It can this since it separates the operating expenses and non-operating expenses by each other, letting you get a more detailed look on where selected expenses and revenues happen to be coming from.

E5-11

Net income$33, 000, 500

Less: provision for desired dividends

(8% of $4, five-hundred, 000) fish hunter 360, 000

Salary available for common 32, 640, 000

Common shares Г·10, 000, 1000

Earnings per share$3. dua puluh enam

E6-3

a) 4

b) 3

c) 4

d) 3

e) 1

f) 1

g) 5

h) 4

i) 5

j) 4

k) 1

l) 2

m) 2

E6-9

(a)

Zubin Mehta Corporation

Statement of Cash Runs

For the Year Ended Dec 31, 08

Cash flows from working activities

Net income$160, 000

Adjustments to reconcile net gain

to net funds provided by working

actions:

Devaluation...

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