Chapter 3 the balance sheet and the statement of changes in stockholder. equity
|
|
- Isaac Joel Lynch
- 8 years ago
- Views:
Transcription
1 Full Picture for Intermediate Accounting (I) Chapter 3 the balance sheet ASSET LIABILITY Current Chapter 6 cash and receivables Chapter 7/8 inventories Chapter 12 current liabilities and contingencies Current No-Cu rrent Chapter 9 property plant and equipment Chapter 10 depreciation and depletion Chapter 11 intangibles Chapter 14 investments Chapter 13 long-term liabilities EQUITY Chapter 15 contributed capital No-Current ASSET=LIABLITY+EQUITY Chapter 3 the balance sheet and the statement of changes in stockholder equity 1. three major financial statements and their functions p39 2.three-stage process for Balance Sheet 2.1 recognition p 41 (whether or not record and report) judge the recognition standards through the definition of elements : asset, liability, stockholders equity p measurement p43 (how much to record) exhibit historical cost current cost ( current replacement cost) current market value net realizable value present value Eg. Raw materials bought on May 5 for $100 If I need to buy the same stock of raw materials I should pay for $120 on Dec. 31 If I sell this same stock of raw materials I will get 115 on Dec. 31 Raw materials-goods in process-(+30) product-sales revenue (target contract price 200)
2 Present value takes the time value of money into consideration 2.3 reporting classification (fill in the BS) exhibit exercises requirment E3-4,E3-5,E3-8,E3-9,P excercise answer example E3-1P59 Current assets Answer E3-1 JENKINS COMPANY Current Asset Section of Balance Sheet December 31, cash and cash equivalents p170 Chapter 6 cash and receivables 2. bank reconciliation p causes of the difference outstanding checks deposits in transit charges made directly by the bank deposits made directly by the bank errors 2.2 procedures for preparing a bank reconciliation 2.3 illustration 3. receivables p trade receivables 3.2 nontrade receivables
3 4. accounts receivable p cash (sales) discount gross method net method illustration sales returns and allowances 4.3 uncollectible accounts for accounts receivable p estimated bad debts method Percentage of sales (net credit sales) Percentage of outstanding accounts receivable Aging of accounts receivable Writing off uncollectible accounts Collection of an account previously written off 4.4 generating immediate cash from accounts receivable pledging assigning factoring 5. Notes receivable p shot-term interest-bearing notes receivable 5.2 short-term non-interest-bearing notes receivable 5.3 notes receivable discounted 6. exercises requirment p196 E6-2, E6-6,E6-10,E6-11,E6-15,E6-23 Chapter 7 inventories: cost measurement and flow assumptions 1. Classifications of inventory p merchandising company merchandise inventory 1.2 manufacturing company raw materials, goods in process, finished goods 2. flow of inventory costs (exhibit 7-1)p Alternative inventory systems p perpetual inventory system 3.2 periodic inventory system 3.3 difference between these two systems 4. Items included in inventory p Inventory costs p215
4 5.1 manufacturing overhead costs 5.2 purchases discounts p217 (exhibit 7-2) gross price method net price method 6. cost flow assumptions p217 (exhibit 7-4) 6.1 specific identification 6.2 FIFO 6.3 weighted average cost flow weighted average method (usually for periodic inventory system) moving average method (more reasonable for perpetual inventory system) 7 exercises requirment p235 E7-1, E7-2, E7-3,E7-5,E7-7(FIFO,Average),E7-8(FIFO,Average) Chapter 8 inventory: special valuation issues 1. Lower of cost or market (LCM) P selects the market value Ceiling Floor Market Value Current replacement cost 1.2 comparisons of market value to cost 1.3 reports the result (allowance method) BS IS 1.4 exhibit 8-1, exhibit exercises requirment E8-1,E8-3 P264 Chapter 9 property, plant, and equipment: acquisition and disposal p Acquisition of property, plant, and equipment p lump-sum purchase 1.2 deferred payments 1.3 donations 1.4 exchange of other asset Exchanges of dissimilar productive assets Exchanges of similar productive assets 1.5 self-construction Interest during construction Fixed overhead costs
5 2. Costs subsequent to acquisition p improvements and replacements 2.2 repairs and maintenance 3. Disposal of PPE p exercises requirment p295 E9-3,E9-4,E9-7,E9-8,E9-11,E9-12,E9-14,E9-16 Chapter 10 Property, plant, and equipment: usage period-depreciation and depletion p factors involved in depreciation p asset cost 1.2 service life 1.3 residual value 2. methods of cost allocation p activity methods 2.2 time-based methods straight line accelerated sum of the years digits declining balance 3. impairment of noncurrent assets p316 4.depletion p exercises requirment p324 E10-2,E10-6,E10-12 Chapter 11 intangibles p336 1.accounting for intangibles p cost of intangible 1.2 amortization or impairment of intangible assets 1.3 research and development costs 2.classification of intangibles p identifiable intangible asset patents copyrights franchises computer software costs leases and leasehold improvement
6 2.1.6 trademarks and trade names deferred charges organization costs 2.2 unidentifiable intangibles internally developed goodwill purchased goodwill 3. exercises requirment p352 E11-5, E11-9 Chapter 12 current liabilities and contingencies p notes payable p sales and use taxes p371 3.income taxes payable p373 4.warranty obligations p expense warranty accrual method 4.2 sales warranty accrual method 5.contingencies p accrual of loss contingencies 5.2 disclosure of loss contingencies in notes to the financial statements 6. exercises requirment p386 E12-3,E12-4,E12-6,E12-10,E12-11
Statement of Financial Accounting Standards No. 25. Statement of Financial Accounting Standards No.25. Business Combinations
Statement of Financial Accounting Standards No. 25 Statement of Financial Accounting Standards No.25 Business Combinations Revised on 30 November 2006 Translated by Ling-Tai Lynette Chou, Professor (National
More informationSTATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION. BALANCE SHEET As of
STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION BALANCE SHEET As of ASSETS CURRENT ASSETS Cash and Cash Equivalents Cash - Restricted Accounts Receivable - Trade Accounts Receivable
More informationINDICE Preface Part 1 the accounting cycle 1 Accounting, the language of business What is accounting?
INDICE Preface XV Part 1 the accounting cycle 1 Accounting, the language of business 2 What is accounting? The purpose and nature and accounting information, creating accounting information. Communicating
More informationSETTING UP YOUR BUSINESS ACCOUNTING SYSTEM
100 Arbor Drive, Suite 108 Christiansburg, VA 24073 Voice: 540-381-9333 FAX: 540-381-8319 www.becpas.com Providing Professional Business Advisory & Consulting Services Douglas L. Johnston, II djohnston@becpas.com
More informationWORK PROCESS SCHEDULE ACCOUNTING TECHNICIAN O*NET-SOC CODE: 43-3031.00 RAIS CODE: 1125HY
Accounting Technician 1 WORK PROCESS SCHEDULE ACCOUNTING TECHNICIAN O*NET-SOC CODE: 43-3031.00 RAIS CODE: 1125HY DESCRIPTION: Compute, classify, and record numerical data to keep financial records complete.
More informationPlease see current textbook prices at www.rcgc.bncollege.com
BUS 202 INTERMEDIATE ACCOUNTING I SYLLABUS LECTURE HOURS/CREDITS: 3/3 CATALOG DESCRIPTION Prerequisite: BUS 103, CIS 102 and MAT 101 or equivalent This course provides an expanded treatment of theory and
More informationInvestments and advances... 313,669
Consolidated Financial Statements of the Company The consolidated balance sheet, statement of income, and statement of equity of the Company are as follows. Please note the Company s consolidated financial
More informationPrinciples of Financial Accounting ACC-101-TE. TECEP Test Description
Principles of Financial Accounting ACC-101-TE TECEP Test Description This TECEP is an introduction to the field of financial accounting. It covers the accounting cycle, merchandising concerns, and financial
More informationRAPID REVIEW Chapter Content
RAPID REVIEW BASIC ACCOUNTING EQUATION (Chapter 2) INVENTORY (Chapters 5 and 6) Basic Equation Assets Owner s Equity Expanded Owner s Owner s Assets Equation = Liabilities Capital Drawing Revenues Debit
More informationAccounting 303 Final Examination. Part I True-False (1 point each, 12 points total) If true, circle "T" on the answer sheet, if false, circle "F".
Accounting 303 Final Examination Name Part I True-False (1 point each, 12 points total) If true, circle "T" on the answer sheet, if false, circle "F". 1. The Financial Accounting Standards Board (FASB)
More informationJOHNSON GRADUATE SCHOOL OF MANAGEMENT Cornell University
JOHNSON GRADUATE SCHOOL OF MANAGEMENT Cornell University Sample Accounting Exemption Exam Questions 1. On July 1, 20D, Allen Company signed a $50,000, one-year, 10 percent note payable. At due date, June
More informationSummary of Financial Report for the FY ending March 2015 (Non-Consolidated)
Summary of Financial Report for the FY ending March 2015 (Non-Consolidated) April 30, 2015 Listed Company Name: Japan Tissue Engineering Co., Ltd. Listed Securities Exchange: JQ Stock Code: 7774 URL http://www.jpte.co.jp
More informationHow To Balance Sheet
Page 1 of 6 Balance Sheet Accounts The Chart of Accounts is normally arranged or grouped by the Major Types of Accounts. The Balance Sheet Accounts (Assets, Liabilities, & Equity) are presented first,
More informationFinancial Accounting by Michael P. Licata, Ph.D. Course Syllabus and Learning Objectives by Chapter
Financial Accounting by Michael P. Licata, Ph.D. Course Syllabus and Learning Objectives by Chapter Basic Course Description Financial Accounting by Michael P. Licata, Ph.D. is a first accounting course
More informationAdvanced Placement (AP) Accounting Course & Exam Pilot Program Course Outline, Learning Objectives and Student Outcomes
Advanced Placement (AP) Accounting Course & Exam Pilot Program Course Outline, Learning Objectives and Student Outcomes Course Overview The Advanced Placement (AP) Accounting Course & Exam Pilot Program
More informationConsolidated Financial Results for Fiscal Year 2013 (April 1, 2013 March 31, 2014)
Consolidated Financial Results for Fiscal Year 2013 (April 1, 2013 March 31, 2014) 28/4/2014 Name of registrant: ShinMaywa Industries, Ltd. Stock Exchange Listed: Tokyo Code number: 7224 (URL: http://www.shinmaywa.co.jp
More informationConsolidated Balance Sheets
Consolidated Balance Sheets March 31 2015 2014 2015 Assets: Current assets Cash and cash equivalents 726,888 604,571 $ 6,057,400 Marketable securities 19,033 16,635 158,608 Notes and accounts receivable:
More informationWESTERN DIGITAL CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS. (in millions; unaudited) ASSETS
CONDENSED CONSOLIDATED BALANCE SHEETS (in millions; unaudited) ASSETS Apr. 1, July 3, 2016 2015 Current assets: Cash and cash equivalents $ 5,887 $ 5,024 Short-term investments 146 262 Accounts receivable,
More informationResidual carrying amounts and expected useful lives are reviewed at each reporting date and adjusted if necessary.
87 Accounting Policies Intangible assets a) Goodwill Goodwill represents the excess of the cost of an acquisition over the fair value of identifiable net assets and liabilities of the acquired company
More informationGROUP 1. BASIC FINANCING. 10. CAPITAL 100. Capital stock 103. Uncalled subscribed capital receivable 108. Treasury stock
GROUP 1. BASIC FINANCING 10. CAPITAL 100. Capital stock 103. Uncalled subscribed capital receivable 108. Treasury stock 11. RESERVES AND OTHER EQUITY INSTRUMENTS 110. Additional paid-in capital 111. Other
More informationAccounting Pilot & Bridge Project Course Outline, Learning Objectives and Student Outcomes
Accounting Pilot & Bridge Project Course Outline, Learning Objectives and Student Outcomes Course Overview The Accounting Pilot & Bridge Project is a year-long course based on high school teachers having
More informationConsolidated balance sheet
Consolidated balance sheet Non current assets 31/12/2009 31/12/2008 (*) 01/01/2008 (*) Property, plant and equipment 1,352 1,350 1,144 Investment property 7 11 11 Fixed assets held under concessions 13,089
More information! "#$ %&!& "& ' - 3+4 &*!&-.,,5///2!(.//+ & $!- )!* & % +, -).//0)& 7+00///2 *&&.4 &*!&- 7.00///2 )!*.//+ 8 -!% %& "#$ ) &!&.
! "#!""#$%$#$#$"& $'"()*+,$-).,/ 012! "#$ %&!& "& '!(&)!*&%+,-).//0 -#$#3-4' &,'1$1# $!-!(.//0)& +01+///2 *&& - 3+4 &*!&-.,,5///2!(.//+ &!(!-6%(!(.//.$(!(.//0)& 01,///2 //+2% &*!&- 5,0///2 //32%!(.//+
More informationConsolidated Financial Results for the nine months of Fiscal Year 2010
Consolidated Financial Results for the nine months of Fiscal Year 2010 (Fiscal Year 2010: Year ending March 31, 2010) Noritake Co., Limited Company Name Stock Exchange Listings Tokyo, Nagoya Code Number
More informationAdvanced Placement (AP) Accounting Course & Exam Pilot Program Course Outline, Learning Objectives and Student Outcomes
Advanced Placement (AP) Accounting Course & Exam Pilot Program Course Outline, Learning Objectives and Student Outcomes Course Overview The Advanced Placement (AP) Accounting Course & Exam Pilot Program
More informationBalance Sheet. 15.501/516 Accounting Spring 2004. Professor S.Roychowdhury. Sloan School of Management Massachusetts Institute of Technology
Balance Sheet 15.501/516 Accounting Spring 2004 Professor S.Roychowdhury Sloan School of Management Massachusetts Institute of Technology Feb 09, 2003 1 Some residual administrative matters Access web
More informationConsolidated Financial Statements (For the fiscal year ended March 31, 2013)
Consolidated Financial Statements (For the fiscal year ended ) Consolidated Balance Sheets Current assets: Cash and deposits Other Assets Notes receivable, accounts receivable from completed construction
More informationInvestments and advances... 344,499
Consolidated Financial Statements of the Company The consolidated balance sheet, statement of income, and statement of equity of the Company are as follows. Please note the Company s consolidated financial
More informationCHAPTER 23. Statement of Cash Flows 1, 2, 7, 8, 12 3, 4, 5, 6, 16, 17, 19 9, 20 4, 5, 9, 10, 11 10, 13, 15, 16. 7. Worksheet adjustments.
CHAPTER 23 Statement of Cash Flows ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems Concepts for Analysis 1. Format, objectives purpose, and source of statement.
More informationChapter 21 The Statement of Cash Flows Revisited
Chapter 21 The Statement of Cash Flows Revisited AACSB assurance of learning standards in accounting and business education require documentation of outcomes assessment. Although schools, departments,
More informationAdvanced Placement (AP) Accounting
Advanced Placement (AP) Accounting The Advanced Placement (AP) Accounting Course is a full academic year course. The course is based on high school teachers having 120 contact hours with students from
More informationHOME PRODUCT CENTER PUBLIC COMPANY LIMITED BALANCE SHEETS AS AT DECEMBER 31, 2003 AND 2002
BALANCE SHEETS AS AT DECEMBER 31, 2003 AND 2002 Assets Note 2003 Baht 2002 Current assets Cash and cash equivalents 2 36,291,871.62 84,051,092.97 Accounts receivable - net 3 121,235,696.40 140,699,262.83
More informationSEAGATE TECHNOLOGY PLC CONDENSED CONSOLIDATED BALANCE SHEETS
CONDENSED CONSOLIDATED BALANCE SHEETS (In millions) June 28, ASSETS Current assets: Cash and cash equivalents $ 2,259 $ 1,708 Short-term investments 47 480 Restricted cash and investments 4 101 Accounts
More informationAccounting 303 Exam 3, Chapters 7-9 Fall 2012 Section Row
Accounting 303 Name Exam 3, Chapters 7-9 Fall 2012 Section Row I. Multiple Choice Questions. (2 points each, 34 points in total) Read each question carefully and indicate your answer by circling the letter
More informationHARMONIC DRIVE SYSTEMS INC. AND CONSOLIDATED SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2013
HARMONIC DRIVE SYSTEMS INC. AND CONSOLIDATED SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2013 HARMONIC DRIVE SYSTEMS INC. AND CONSOLIDATED SUBSIDIARIES CONSOLIDATED BALANCE SHEETS ASSETS
More informationSAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS. Year ended December 31, 2011
SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS Year ended SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS For the year ended The information contained in
More informationFinancial Accounting: Assets FA 2 Module 6. Handouts. Current financial assets And current liabilities. Presented by: Laura Dallas, CGA
Accounting: Assets FA 2 Module 6 Handouts Current financial assets And current liabilities Presented by: Laura Dallas, CGA Note: this information is prepared from the best information I have available
More informationACCOUNTING 105 CONCEPTS REVIEW
ACCOUNTING 105 CONCEPTS REVIEW A note from the tutors: This handout is designed to help you review important information as you study for your cumulative final exam. While it does cover many important
More informationConsolidated Financial Summary For the third quarter of the fiscal year ending March 31, 2009
Monex Group, Inc. Consolidated Financial Summary under Japanese GAAP for the third quarter of the fiscal year ending March 31, 2009 (April 1, 2008-December 31, 2008) This is an English translation of Japanese
More informationNotes to Consolidated Financial Statements Notes to Non-consolidated Financial Statements
This document has been translated from the Japanese original for reference purposes only. In the event of discrepancy between this translated document and the Japanese original, the original shall prevail.
More informationGlossary of Accounting Terms Peter Baskerville
Glossary of Accounting Terms Peter Baskerville Account for or 'bring to account': An accounting phrase used to describe the recording of a financial transaction that is required under the generally accepted
More informationChapter 9. Plant Assets. Determining the Cost of Plant Assets
Chapter 9 Plant Assets Plant Assets are also called fixed assets; property, plant and equipment; plant and equipment; long-term assets; operational assets; and long-lived assets. They are characterized
More informationPROFESSOR S NAME ACC 255 FALL 2011 COVER SHEET FOR COMPREHENSIVE PROBLEM 2 (CHAPTERS 2, 5-8)
COMPREHENSIVE PROBLEM 2 (CHAPTERS 2, 5-8) Page 137 NAME ANSWER KEY PROFESSOR S NAME SECTION SCORE ACC 255 FALL 2011 COVER SHEET FOR COMPREHENSIVE PROBLEM 2 (CHAPTERS 2, 5-8) INSTRUCTIONS: COMPLETE ALL
More informationBUSINESS BOOKS. Accounting SIXTH EDITION. Peter J. Eisen Assistant Principal Retired Accounting & Business Practice N.YC. Department of Education
BUSINESS BOOKS Accounting SIXTH EDITION Peter J. Eisen Assistant Principal Retired Accounting & Business Practice N.YC. Department of Education BARRON'S CONTENTS Preface ix 1 THE ACCOUNTING EQUATION I
More informationNotes to Consolidated Financial Statements Notes to Non-Consolidated Financial Statements
This document has been translated from the Japanese original for reference purposes only. In the event of discrepancy between this translated document and the Japanese original, the original shall prevail.
More informationOperating Working Capital Drills
Operating Working Capital Drills Operating Working Capital Drills 1. Use IBM s balance sheet below to calculate 2010 and 2011 working capital and operating working capital. Your VP has told you to consider
More information中 原 大 學 95 學 年 度 轉 學 考 招 生 入 學 考 試
中 原 大 學 95 學 年 度 轉 學 考 招 生 入 學 考 試 7 月 12 日 14:00~15:30 商 學 群 組 二 年 級 科 目 : 會 計 學 ( 共 七 頁 第 一 頁 ) 可 使 用 計 算 機, 惟 僅 限 不 具 可 程 式 及 多 重 記 憶 者 一 MULTIPLE CHOICE QUESTIONS: (50%) 誠 實 是 我 們 珍 視 的 美 德, 我 們 喜
More informationHow To Read The Financial Results Of 20Xx And 200X
Name SAMPLE Financial Statements December 31, 20XX CPA Accounting Firm Name Table of Contents Page Accountant s Review Report 1 Financial Statements Balance Sheet 2 Income Statement 3 Schedule of General
More information3. CONSOLIDATED QUARTERLY FINANCIAL STATEMENTS
3. CONSOLIDATED QUARTERLY FINANCIAL STATEMENTS (1) Consolidated Quarterly Balance Sheets September 30, 2014 and March 31, 2014 Supplementary Information 2Q FY March 2015 March 31, 2014 September 30, 2014
More informationConsolidated Financial Statements
Consolidated Financial Statements For the year ended February 20, 2016 Nitori Holdings Co., Ltd. Consolidated Balance Sheet Nitori Holdings Co., Ltd. and consolidated subsidiaries As at February 20, 2016
More informationConsolidated Financial Statements
Consolidated Financial Statements For the fiscal year ended March 31, 2013 Sony Corporation TOKYO, JAPAN Contents Management s Annual Report on Internal Control over Financial Reporting 2 Report of Independent
More informationEXERCISES LESSON 3 BALANCE SHEET
DEPARTAMENTO DE CONTABILIDAD Y ECONOMÍA FINANCIERA ESCUELA UNIVERSITARIA DE ESTUDIOS EMPRESARIALES FINANCIAL ACCOUNTING (DIPLOMATURA EN CIENCIAS EMPRESARIALES, 2º CURSO, GRUPO 5) 2008-2009 EXERCISES LESSON
More informationIntroductory Financial Accounting Course Outline
Aboriginal Financial Officers Association of Alberta Introductory Financial Accounting Course Outline ACCT 210: INTRODUCTORY FINANCIAL ACCOUNTING I... 1 ACCT 240: INTRODUCTORY FINANCIAL ACCOUNTING II...
More informationi) Question Type The following are guidelines on the type of questions and their approximate weightings:
Purpose Financial Accounting: Assets [FA2] Examination Blueprint 2014/2015 The Financial Accounting: Assets [FA2] examination has been constructed using an examination blueprint. The blueprint, also referred
More informationPOLICY MANUAL. Financial Management Significant Accounting Policies (July 2015)
POLICY 1. Objective To adopt Full Accrual Accounting and all other applicable Accounting Standards. 2. Local Government Reference Local Government Act 1995 Local Government (Financial Management) Regulations
More informationAdvanced Placement (AP) Accounting Course and Exam Pilot Program Course Outline, Learning Objectives and Student Outcomes
Advanced Placement (AP) Accounting Course and Exam Pilot Program Course Outline, Learning Objectives and Student Outcomes Course Overview The Advanced Placement (AP) Accounting Course and Exam Pilot Program
More informationSummary of Significant Accounting Policies FOR THE FINANCIAL YEAR ENDED 31 MARCH 2014
46 Unless otherwise stated, the following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements. The Company and
More informationRaw materials 1. Direct materials 2. Indirect materials Direct labor, Manufacturing overhead
Chapter9 Inventory and Cost Inventory/Merchandise Inventory = Goods that are hold in stock (Classification as Current Assets) For merchandiser or inventory firm, inventory is the goods which purchased
More informationCollege Accounting Chapter 10 Plant Assets, Natural Resources, and Intangibles
College Accounting Chapter 10 Plant Assets, Natural Resources, and Intangibles 1. HOW DOES A BUSINESS MEASURE THE COST OF A PLANT ASSET? Plant assets are long-lived, tangible assets used in the operation
More informationFinancial Statements
Financial Statements Years ended March 31,2002 and 2003 Contents Consolidated Financial Statements...1 Report of Independent Auditors on Consolidated Financial Statements...2 Consolidated Balance Sheets...3
More informationReeve Warren Duchac. James M. Reeve. Professor Emeritus of Accounting University of Tennessee, Knoxville
Reeve Warren Duchac 10e James M. Reeve Professor Emeritus of Accounting University of Tennessee, Knoxville Carl S. Warren Professor Emeritus of Accounting University of Georgia, Athens Jonathan E. Duchac
More informationAssuming office supplies are charged to the Office Supplies inventory account when purchased:
Adjusting Entries Prepaid Expenses Second Bullet Example - Assuming office supplies are charged to the Office Supplies inventory account when purchased: Office supplies expense 7,800 Office supplies 7,800
More informationSAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS. Year ended December 31, 2012
SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS Year ended SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS For the year ended The information contained in
More informationZamil Industrial Investment Company (Saudi Joint Stock Company) and its Subsidiaries
Zamil Industrial Investment Company (Saudi Joint Stock Company) and its CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UN-AUDITED) AND AUDITORS' LIMITED REVIEW REPORT 30 JUNE 2015 1 ACTIVITIES Zamil industrial
More informationWIPRO DOHA LLC FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED MARCH 31, 2016
WIPRO DOHA LLC FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED MARCH 31, 2016 WIPRO DOHA LLC BALANCE SHEET (Amount in ` except share and per share data, unless otherwise stated) As at March 31, 2016
More informationAccounting Core Course Learning Outcomes ACCT-3111 Cost Accounting Course Learning Outcomes
Accounting Core Course Learning Outcomes Updated 9/26/15 ACCT-3111 Cost Accounting ACCT-3151 Intermediate Accounting I ACCT-3152 Intermediate Accounting II ACCT-3252 Accounting Information Systems ACCT-4251
More informationSANYO TRADING COMPANY LIMITED. Financial Statements
Financial Statements Year Ended September 30, 2014 English translation from original Japanese-language documents Balance Sheets As of September 30, 2014 ASSETS Current Assets Cash and deposits US$ 18,509,007
More information2. The balance in a deferred revenue account represents an amount that is Earned Collected a. Yes Yes b. Yes No c. No Yes d. No No.
Multiple choice (36%, 2%each): 1. Failure to record the expired amount of prepaid rent expense would not a. understate expense. b. overstate net income. c. overstate owners' equity. d. understate liabilities.
More informationKIRIN HOLDINGS COMPANY, LIMITED
KIRIN HOLDINGS COMPANY, LIMITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2013 AND 2012 TOGETHER WITH INDEPENDENT AUDITOR S REPORT Consolidated Balance Sheets Kirin Holdings Company,
More informationPrerequisite: None or as established by individual college. 3.0 semester credit hours/4.5 quarter credit hours/45 contact hours
I. CATALOG DESCRIPTION ACCT-1200 Principles of Accounting I Prerequisite: None or as established by individual college This course is designed to provide introductory knowledge of accounting principles,
More informationConsolidated Balance Sheets March 31, 2001 and 2000
Financial Statements SEIKAGAKU CORPORATION AND CONSOLIDATED SUBSIDIARIES Consolidated Balance Sheets March 31, 2001 and 2000 Assets Current assets: Cash and cash equivalents... Short-term investments (Note
More information6. Depreciation is a process of a. asset devaluation. b. cost accumulation. c. cost allocation. d. asset valuation.
1. A company purchased land for $72,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an old building on the land before construction of a new building could start.
More informationTransition to International Financial Reporting Standards
Transition to International Financial Reporting Standards Topps Tiles Plc In accordance with IFRS 1, First-time adoption of International Financial Reporting Standards ( IFRS ), Topps Tiles Plc, ( Topps
More informationCHAPTER 5. Examining the Balance Sheet and Statement of Cash Flows 2 4, 5 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 12, 13, 14, 15, 16
CHAPTER 5 Examining the Balance Sheet and Statement of Cash Flows ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems Concepts for Analysis 1. Disclosure principles,
More information3 4 5 6 FINANCIAL SECTION Five-Year Summary (Consolidated) TSUKISHIMA KIKAI CO., LTD. and its consolidated subsidiaries Years ended March 31 (Note 1) 2005 2004 2003 2002 2001 2005 For the year: Net sales...
More informationAuditing Accounting Estimates
Auditing Accounting Estimates 2057 AU Section 342 Auditing Accounting Estimates Source: SAS No. 57; SAS No. 113. See section 9342 for interpretations of this section. Effective for audits of financial
More informationASSETS. Are cash and other Assets expected to be converted into cash, either in One Year or in the operating cycle, which ever is longer.
ASSETS Current Assets: Are cash and other Assets expected to be converted into cash, either in One Year or in the operating cycle, which ever is longer. sold, or consumed funds. : It is the money on deposit
More informationCASH FLOW STATEMENT & BALANCE SHEET GUIDE
CASH FLOW STATEMENT & BALANCE SHEET GUIDE The Agriculture Development Council requires the submission of a cash flow statement and balance sheet that provide annual financial projections for the business
More informationConsolidated Balance Sheet
Consolidated Balance Sheet (As of March 31, 2010) Item Amount Item Amount [Assets] million yen [Liabilities] million yen Current assets 12,277Current liabilities 7,388 Notes payable and accounts 2,449
More informationConsolidated balance sheet
83 Consolidated balance sheet December 31 Non-current assets Goodwill 14 675.1 978.4 Other intangible assets 14 317.4 303.8 Property, plant, and equipment 15 530.7 492.0 Investment in associates 16 2.5
More informationPBL: Accounting for Professionals. Competency: Accounts Concepts, Principles, Terminology
Competency: Accounts Concepts, Principles, Terminology 1. Identify and apply Generally Accepted Accounting Principles (GAAP). 2. Apply the steps in the Accounting cycle. 3. Post and analyze transactions
More informationContent. 3 Group Financial Statements. 68 Financial Statements of Schindler Holding Ltd. 86 Compensation Report. 102 Corporate Governance
Each day Schindler moves one billion people. Financial Statements 2013 Content 3 Group Financial Statements 68 Financial Statements of Schindler Holding Ltd. 86 Compensation Report 102 Corporate Governance
More informationLarge Company Limited. Report and Accounts. 31 December 2009
Registered number 123456 Large Company Limited Report and Accounts 31 December 2009 Report and accounts Contents Page Company information 1 Directors' report 2 Statement of directors' responsibilities
More informationZAMIL INDUSTRIAL INVESTMENT COMPANY (SAUDI JOINT STOCK COMPANY)
ZAMIL INDUSTRIAL INVESTMENT COMPANY INTERIM CONSOLIDATED FINANCIAL STATEMENTS AND AUDITORS REPORT (LIMITED REVIEW) FOR THE THREE MONTHS AND NINE MONTHS PERIODS ENDED SEPTEMBER 30, NOTES TO THE INTERIM
More informationACCOUNTING COURSE QUALITY STANDARDS ACC-131... 3 ACC-132... 5 ACC-161... 7 ACC-221... 9 ACC-231... 11 ACC-232... 14 ACC-261... 17 ACC-310...
ACCOUNTING COURSE QUALITY STANDARDS ACC-131... 3 ACC-132... 5 ACC-161... 7 ACC-221... 9 ACC-231... 11 ACC-232... 14 ACC-261... 17 ACC-310... 17 ACC-805... 17 ACC-806... 19 ADM-114... 21 ADM-133... 22 BCA-157...
More informationNote 2 SIGNIFICANT ACCOUNTING
Note 2 SIGNIFICANT ACCOUNTING POLICIES BASIS FOR THE PREPARATION OF THE FINANCIAL STATEMENTS The consolidated financial statements have been prepared in accordance with International Financial Reporting
More informationAccounting 303 Exam 3, Chapters 7-9 Fall 2011 Section Row
Accounting 303 Name Exam 3, Chapters 7-9 Fall 2011 Section Row I. Multiple Choice Questions. (2 points each, 34 points in total) Read each question carefully and indicate your answer by circling the letter
More informationREVIEW FOR EXAM NO. 3, ACCT-2301 (SAC) (Chapters 7-9)
REVIEW FOR EXAM NO. 3, ACCT-2301 (SAC) (Chapters 7-9) A. Chapter 7. 1. Internal Control Objectives. a. Safeguards to protect assets. b. Procedures to insure reliable financial reports. c. Methods to insure
More informationMATRIX IT LTD. AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2013 CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2013 NIS IN THOUSANDS INDEX Page Auditors' Reports 2-4 Consolidated Statements of Financial
More informationEMERSON AND SUBSIDIARIES CONSOLIDATED OPERATING RESULTS (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED)
CONSOLIDATED OPERATING RESULTS (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED) TABLE 1 Quarter Ended March 31, Percent Change Net Sales $ 5,854 $ 5,919 1% Costs and expenses: Cost of sales 3,548 3,583
More informationOverview of Business Results for the Second Quarter of Fiscal Year Ending March 2015 [Japanese Standard Form] (Consolidated)
Overview of Business Results for the Second Quarter of Fiscal Year Ending March 2015 [Japanese Standard Form] (Consolidated) November 6, 2014 Name of the Company: Cosmo Oil Co., Ltd. Shares traded:tse
More informationGBA 521 Midterm Review Dr. Markelevich
GBA 521 Midterm Review Dr. Markelevich Multiple Choice (3 points for each question) Identify the letter of the choice that best completes the statement or answers the question. Wynn Corp. Wynn Corp. reported
More informationILLUSTRATION 5-1 BALANCE SHEET CLASSIFICATIONS
ILLUSTRATION 5-1 BALANCE SHEET CLASSIFICATIONS MAJOR BALANCE SHEET CLASSIFICATIONS ASSETS = LIABILITIES + OWNERS' EQUITY Current Assets Long-Term Investments Current Liabilities Long-Term Debt Capital
More informationVolex Group plc. Transition to International Financial Reporting Standards Supporting document for 2 October 2005 Interim Statement. 1.
Volex Group plc Transition to International Financial Reporting Standards Supporting document for 2 October 2005 Interim Statement 1. Introduction The consolidated financial statements of Volex Group plc
More informationStormGeo, Inc. and Subsidiary Consolidated Financial Statements December 31, 2012 StormGeo, Inc. and Subsidiary December 31, 2012 Table of Contents Page Independent Auditors Report... 1-2 Consolidated
More informationAccounting for and Presentation of Liabilities
7 Accounting for and Presentation of Liabilities Liabilities are obligations of the entity or, as defined by the FASB, probable future sacrifices of economic benefits arising from present obligations of
More information