Which is related to accepting deposits and lending money for business and personal needs to earn profit? a. Accounting b. Banking c. Investment d. Finance
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A: (Note: Since you have posted a multi-part question, we will solve the first three sub-parts for you.…
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A: Primarily there are 2 types of users of financial accounting information: Internal users External…
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A: Basic accounting equation is Assets = Liabilities + Capital
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A: The primary reporting of the transactions in the books is to be made through journal entries.
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A: The business's revenue and expenses may be tracked using either a cash or accrual basis.
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A: Cash Flow Statement is one of the Financial Statements which shows the movement of cash in the…
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Q: 18. Which one of the following items is classified as an investing activity? O A. Receipts of cash…
A: Investing activities refers to the purchase and sale of long-term assets and other business…
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A: Realization principle: It can be defined as a concept that is based on the rule that the revenue…
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A:
Q: t, Statement of Owner’s Equity, Balance Sheet, and Statement of Cash Flows) are helpful to the…
A: The most significant components of financial statements are the income statement, balance sheet, and…
Q: Write examples of each kind of business activity: (a) operating, (b) investing, and (c) financing.
A: Cash flow statement is a statement which is prepared to find out the cash comes in and goes out , by…
Q: Why are bankers interested in the income statement of a business to which they loan money?
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
Q: For money to accrue to a business, it needs to: a.Have been earned by the business b.Have been…
A: As per revenue recognition principles, if a company follows accrual method of accounting then…
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A: Accounting equation of business has three important elements. These are assets, liabilities and…
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Q: Which is related to accepting deposits and lending money for business and personal needs to earn…
A: Financial Accounting:- Financial accounting is considered as the process of recording, summarizing…
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A: Solution Ratios analysis is used to determine the information regarding organisation's…
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Q: How does paying cash for purchase of supplies affect the accounting equation?
A: Accounting Equation is as follows: Assets = Liabilities+ Equity (Owner's funds) Each accounting…
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Q: a. The borrower's history of paying bills. b. The assets a borrower owns and can sell to pay off a…
A: in this you have to match right option to right meaning of option
Q: The Income Statement will O indicate how much money the owner invested into their business. indicate…
A: Income statement means the statement which show the cost of goods sold and selling price and give…
Q: in accountin
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Q: Which of the following concepts deals with the management of money in an organization? a.…
A: Money management involves various aspects within an organization such as manner of obtaining,…
Q: Classify each of the following cash flows as operating, investing, or financing activities:
A: Cash flow from operating activities: This section of cash flow statement provides information about…
Q: What is cash flow statement? What are the importance of cash flow in a business?
A: The cash is an important and most liquid asset for the business. The cash flow statement is one of…
Q: Which of the following increase when business takes a loan from a bank? O a. Sales O b. Equity O c.…
A: The balance sheet of business consists of assets and liabilities.
Q: Financial statement users assess a business liquidity and solvency to see whether a business is…
A: Solution Concept Liquidity The term liquidity means how quickly can the assets be…
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A: There are three golden rules in accounting for recording the transaction : Debit what comes in ,…
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A: Accounting's goals include keeping a systematic record of all financial transactions in a book of…
Q: It represents the cash or other assets withdrawn from the business by the owner for the personal…
A: Drawings represents the cash or other assets withdrawn from the business by the owner for the…
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A: Proprietor’s Withdrawals: An owner's withdrawal, also known as a distribution, is a transfer of cash…
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- Financial Management CH 11 HW Please show work, thank you. Question 10Qw.28. Question 3 What are 3 of the stages in Books review? Not started Bank reconciliation Account reconciliation Final review Categorization review Transaction review Team reviewfinancial management ch 11 quiz please show work, thank you.
- Q.01: While studying accounting, you become increasingly familiar with a variety of generally accepted accounting principles. Already, you must appreciate some of the fundamental principles, rules, and procedures. Evaluate the following ten comments, and state whether you agree or disagree:The fundamental accounting equation precludes a situation where liabilities exceed assets.A complete set of financial statements would include a cash flow statement.The balance sheet can be prepared in a vertical or horizontal format.The period of time covered by each financial statement is identical.Many assets are reported at their historical cost.Revenue should not be recognized before it is collected.The term income is synonymous with the term revenue.Dividends are reported as an expense on the income statement.Retained earnings will equal cash on hand.Issuing stock does not increase a company’s revenue or income.financial management ch 17 hw please show work and explain. thank you. question 1Q.3 Explain the following terms in your own words:a) On which side opening cash balance should be recorded in the cash book?b) Is it possible that we sale goods for Rs. 20,000 and receive Rs. 19,000, if yes than explainwith reason?c) If bank credited interest on securities in our account than on which side we should recordthat interest in the double column cash book?d) In which case bank debited our account and what will be the accounting treatment in ourbooks?e) If owner pay his university dues from the bank balance of business, what will be theeffect of this transaction on cash book?
- Question 6 : (A) Multiple Choice Questions: 1. Finance can be defined as (a) the system of debits and credits. (b) the science of the production, distribution, and consumption of wealth. (c) the art and science of managing money. (d) the art of merchandising products and services 2. Which of the following assist companies in raising capital, advise firms on major transactions such as mergers or financial restructuring, and engage in trading and market making activities? (a) Investment Banks (b) Securities Exchanges (c) Mutual Funds (d) Commercial Banks 3. A financial manager must choose between three alternative investments. Each asset is expected to provide earnings over a three-year period as described below. Based on the wealth maximization goal, the financial manager would choose (Justify your answer) Year Asset X Asset Y Asset Z 1 $15,000 $ 4,000 $ 6,000 2 $9,000 $10,000 $14,000 3 $5,000 $15,000 $11,000 $29,000 $29,000 $31,000 (a) Asset X. (b) Asset Y. (c) Asset…PQ 2.11From the following, which are subdivisions of owner’s equity? a. Trees ______b. J. Penny, Capital ______c. Accounts Payable ______d. J. Penny, Withdrawals ______ e. Accounts Receivable ______ f. Advertising Expense ______ g. Taxi Fees Earned ______h. Computer Equipment ______PROBLEM 2.48. Prepare balance sheet from the following particulars : Current ratio 2.5, Acid test ratio 1.5, Working capital ₹3,00,000, Cash is equal to 50% of Bills receivable, Bills receivable amount is equal to the amount of Debtors. Current assets include stock, debtors, bills receivable and cash only. Current liabilities include creditors and bills payable only, in the ratio of 3:2. Fixed assets are 60% of Shareholders' funds. Reserves and surplus are ₹50,000. The are no long-term loans or investments.
- Ethics in Action Lucas Hunter, president of Simmons Industries Inc., believes that reporting operating cash flow per share on the income statement would be a useful addition to the companys just completed financial statements. The following discussion took place between Lucas Hunter and Simmons' controller, John Jameson, in January, after the close of the fiscal year: Lucas: Ive been reviewing our financial statements for the last year. I am disappointed that our net income per share has dropped by 10% from last year. This won't look good to our shareholders. Is there anything we can do about this? John. What do you means? The past is the past, and the numbers are in. There isnt much that can be done about it Our financial statements were prepared according to generally accepted accounting principles, and I dont see much leeway for significant change at this point. Lucan No, no. Ive not suggesting that we cook the books. But look at the cash flow from operating activities on the statement of cash flows. The cash flow from operating activities has increased by 20%. This is very good newsand. I might add, useful information. The higher cash flow from operating activities will give our creditors comfort. John. Well, the cash flow from operating activities is on the statement of cash flows, so I guess users will be able to see the improved cash flow figures there Lucas: This is true, but somehow I think this information should be given a much higher profile. I don't like this information being buried in the statement of cash flows. You know as well as I do that many users will focus on the income statement Therefore. I think we ought to include an operating cash flow per share number on the face of the income statementsomeplace under the earnings per share number In this way, users will get the complete picture of our operating performance. Yes, our earnings per share dropped this year, but our cash flow from operating activities improved! And all the information is in one place where users can see and compare the figures. What do you think? John I've never really thought about it like that before I guess we could put the operating cash flow per share on the income statement, underneath the earnings per share amount. Users would really benefit from this disclosure. Thanks for the ideaI'll start working on it. Lucas: Glad to be of service. How would you interpret this situation? Is John behaving in an ethical and professional manner?Ratio of liabilities to stockholders' equity The Home Depot is the world's largest home improvement retailer and one of the largest retailers in the United States based on net sales volume. The Home De pot operates over 2,200 Home Depot stores that sell a wide assortment of building materials and home improvement and lawn and garden products. The Home Depot recently reported tl1e following balance sheet data (in millions): Year2 Year1 Total assets 39,946 40,518 Total stockholders' equity 9,322 12,522 a.Determine the total liabilities at the end of Years 2 and 1. b.Determine the ratio of liabilities to stockholders' equity for Year 2 and Year 1. Round to two decimal places. c.What conclusions regarding the margin of protection to the creditors can you draw from (b)?
