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Questions -
Question 1: Listed below in random order are the items to be included in the balance sheet of Smokey Mountain Lodge at December 31, 2011. Prepare a balance sheet at December 31, 2011.
Equipment $39,200
Buildings $450,000
Land $425,000
Capital Stock $135,000
Accounts Payable $54,800
Cash $31,400
Accounts Receivable $10,600
Furnishings $58,700
Salaries Payable $33,500
Snowmobiles $15,400
Interest Payable $12,000
Notes Payable $620,000
Retained Earnings ?
Question 2: California Business Solutions reported the following figures on December 31, 2019. Prepare an income statement.
Services revenue $293500
Interest expense $8,400
Salaries expense $33,500
Interest payable $12,000
Utilities $1,000
General and administration expenses $12,800
Interest revenue $5,650
Notes Payable $6,000
Stock $80,000
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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