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Prepare a financial statement from alphabetic listing of accounts:A number of accounts balances are listed below these accounts relate to Keenal Real Estate. During the year just ended. Keenel invested additional of 7500 in the businessAccounts payable 12250Accounts Receiveable 21900Advertising expense 10500Building 45000Cash 3620Entertainment Expense 16400Equipment 21700Interest Expense 3700Land 12000Misc Expance 2460Mortgage Payable 39500Notes Payable 21300Office supplies on hand 1720Real Estate commission earned 143750Salalries payable 1730Travel Expense 15900Withdrawls 14860keenan Capital Dec 31 1995 xxxxxKeenan Capital Jan 1 1995 11050Required:Prepare the three principal financial statements from the data of the year ended Dec 31, 1995.(Total Assets will be = 105940)
Leverage or Gearing Ratios - These ratios include the Long Term Debt to Equity Ratio, Total Debt to Equity Ratio, Interest Coverage Ratio. Here, the interest coverage ratio is al
Q. Business risk in company? Business risk is the likelihood of a company experiencing changes in the level of its profit before interest as a result of changes in turnover or
Q. Explain briefly the role of computers in accounting? Computers can be used as accounting machines and perform all the functions which accounting machines perform. Some of th
ACQUISITION OF A SUBSIDIARY COMPANY DURING THE YEAR When the holding company acquires a subsidiary company portray during the financial period, and then the approach to preparing
I am working on a bank reconciliation problem. How should I record the following transaction on the company's cash record? (10/31/13 Bank Rec) A two month, 8%, $1350 customer's not
You are the CFO of Diversi?ed Industries. Diversi?ed has suffered through 4 or 5 tough years. This has deteriorated its ? financial condition to the point that Diversi?ed is in dan
Accounting Date In determining the accounting date of the trust, the trustees will consider the following: Date of death (accounts to anniversary of death); Fiscal y
Q. What is Auditors report explain? Special Report - Special report is a term used for Auditors' reports issued in connection with various types of financial presentations, inc
Choice of an appropriate discount rate The difficulty with selecting a discount rate rests on whether the correct rate for the risk/return has been derived. A number of things
Statement of Retained Earnings Landon Corporation was organized on January 2, 2010, with the investment of $100,000 by each of its two stockholders. Net income for its first year o
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