Chapter 2, Problem 4EYCT

What is the  primary purpose of the  Statement of  Affairs ? a. To determine how much is owed by the  customers b. To determine  the amount for  the  owners  equity c. To determine how is  left  in the bank account d. To determine if there  was a  gain or loss  on disposal       The term Margin is determined by which of the  following operations? a. Adding  all the  incomes b. Dividing gross  profit  by sales   c. Subtracting   expenses  from sales d. Multiplying capital by  a  decimal      The Sandy Bay   is a trader in sand.  On December 31, 2010 the closing inventory was     completely destroyed by flood rains. The following information is available: (1) Inventory at December  1, 2010  at cost $31,400 (2) Purchases for December 2010  $55,600 (3) Sales for December 2010  $88,800 (4) Standard mark-up  is  25% Based on this information, what was the value of the closing inventory?                                                     a. $15,960   b. $17,760 c. $20,400   d. $25,800…

Visit the website of the US Securities and Exchange Commission (SEC) https://www.sec.gov/edgar/searchedgar/companysearch.html Search for the latest Form 10-K for a company you would like to analyze.  Submit a short memo that A. Includes the name of the company you have chosen.B. Review the company’s end-of-period Balance Sheet to determine the following: Total assets Total liabilities Total equity C. Compare beginning and ending Assets totals and discuss the amount of change.D. Compare beginning and ending Liabilities totals and discuss the amount of change.E. Compare beginning and ending Equity totals and discuss the amount of change. Please provide a link to the company’s Form 10-K to allow accurate verification of your answers.

Potential stockholders and lenders are interested in a company's financial statements. Several financial statement items appear below. Use this information to answer the questions that follow. Accounts receivable Current liabilities Income taxes Cash Common stock Retained earnings Office supplies Inventory of the listed above, which four are current assets? Select one: O a. Accounts receivable, net income, inventory, and dividends O b. Cash, accounts receivable, inventory, and office supplies O c. Cash, accounts receivable, common stock, and sales O d. Net income, cash, office supplies, and inventory Bonds payable Dividends Net income Sales

A. Identify the nature of each account using the letter A for assets, L for liabilities, SE for shareholders’ equity, R for revenue, E for expenses, and NA for not applicable. B. Calculate net income for the period. C. How much has been earned by the company’s operations but not distributed to shareholders? D. What is the total investment by shareholders? E. How much do customers owe the company?

Give typing answer with explanation and conclusion  1. ________ are items owed to a creditor. ________ are items owned by a company. ________ represents owners' claims to company resources.   Expenses; Revenues; Net income   Expenses; Revenues; Stockholders��� equity   Liabilities; Assets; Stockholders' equity   Liabilities; Assets; Net income

3. What does the P/E ratio or EPS tell you about a companies’ overall financial condition? 4. What industry statistics can a business use for comparison?5. How can they use that information in their business? Please give a specific example.

The following are a few of the accounts of Aim Delivery Corporation. Classify each as it would be reported on a balance sheet. Required: The following are a few of the accounts of Aim Delivery Corporation. Classify each as it would be reported on a balance sheet. tequired: 1. Salaries and Wages Payable 2. Accounts Payable 3. Accounts Receivable 4. Buildings 5. Cash 6. Common Stock 7. Land 8. Income Taxes Payable 9. Equipment 10. Notes Payable (due in six months) 11. Retained Earnings 12. Supplies

The preceding table gives balance sheet percentages and selected financial data for three companies in very different industries - food and beverage, manufacturing, and social networking. Make three observations in each section - Assets, Liabilities and Net Worth, and Selected Financial Data - that you think are interesting.  Describe what you think is going on.

Exploring a Corporation's Financial Statements Use Yahoo Finance to complete this assignment. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. Using financial websites such as finance.yahoo.com and money.msn.com, you can access a wealth of financial information for companies such as Tesla, Inc. By entering the company's ticker symbol, TSLA, you will be able to access a great deal of useful information, including a summary of what Tesla does (Profile), a chart of its recent stock price (Summary), EPS estimates (Analysts), recent news stories (Summary), and a list of key financial data and ratios (Statistics). In researching a company's operating performance, a good place to start is the recent stock price performance. From an interactive chart, you can obtain a chart of the company's stock price performance and compare it to the overall market (as measured by the S&P 500 index). As you will see, Tesla has…