Fictional account

turn on our laptops to take notes. ‘‘This is what I know,’’ she continues. ‘‘CBC creates a sales order when a customer places an order by telephone. The sales department forwards one copy of the sales order to the warehouse and a second copy to the accounts receivable department. When the goods are shipped to the customer, the warehouse creates a shipping

12 Flash INC. CASE ANALYSIS Comparative Financial Analysis Author Assuming the company does not invest in the new product line; prepare forecasted income statements and balance sheets at year-end 2010, 2011, and 2012. Based on these forecasts, estimate Flash's required external financing: in this case all required external financing takes the form of additional notes payable from its commercial bank, for the same period. Using the assumptions given in the case, all elements of income statement

for receivable turnover, payable turnover, inventory turnover. Turnover ratios measure how many times per year a given resource is consumed. Management’s objective is to stretch out the accounts payable period (low accounts payable turnover) and shorten the periods for accounts receivable and inventory (high accounts receivable and inventory turnover). The average of 2001 to 2003 was 10, 9.2 and 5.1 times respectively. And according to horizontal analysis from 2001 to 2003, the assets and liabilities

acquired by the president of the company and four senior officers. Most of the acquisition cost was financed by bank loans. Since the acquisition, Harrison had difficulties to pay NCB for the goods and the account receivable reached to unacceptable level. In September 2005 the Harrison account was 156 days old and amounted to $ 4.4 million. In

At Contact.Hwnerd@Gmail.Com (TCO 3) At the end of the period it is necessary to close all temporary accounts. (1) Explain why this process is required (15 points) and (2) provide an example of the closing of an expense account, Supplies Expense in the form of a journal entry. (10 points) (Points : 25) (TCO 3) At the end of the period it is necessary to close all temporary accounts. (1) Explain why this process is required (15 points) and (2) provide an example of the closing of an

at the end of each month. This method is considered as inefficient as taking a longer time to issue invoice will result in poor cash flow. The income statements may show a high sales but the company cash flow is affected due to increase in debtors account. Furthermore, the company also might have risk of bad debts. For instance, when Mrs. Sally issues a customer an invoice at the end of this month, the customer might not pay her right away instead they pay at the end of the following month of invoice

ECON112 Macroeconomics Problem Set 1 *Solution* By Yao Amber Li Fall 2010 (Instructor: Li, Yao; TA: Fok Pik Lin, Astor) ------------------------------------------------------------------------------------------------------------------------------------ 40 marks total Part I: True/False/Uncertain Please justify your answer with a short argument. (10 marks, 2 marks each) One mark is for correct judgment. One mark is for correct argument. 1. GDP is the value of all goods and services produced

Annual cost of goods sold = $360,000 Average accounts receivable = $160,000 Average accounts payable = $25,000 Cash Conversion Cycle: Inventory conversion period (ICP) = Average inventory / Cost of goods sold per day =

Riordan Manufacturing Executive Summary: As a Fortune 1000 enterprise, and an industry leader in the field of plastic injection molding, Riordan Manufacturing, offers state-of-the art plastics design capabilities through its facilities in San Jose, California; Albany, Georgia; Pontiac, Michigan; and Hang Zhou, China. Currently, Riordan's COO, Hugh McCauley, and the executive team have requested changes to the current information system used to maintain inventory and manufacturing processes

Week 4 Assignment from Textbook: Chapter 23 & 24 Esther Tate ACC/400 July 26, 2015 Theresa Pekron Brief Exercise 23.6 – Elements of the Budget Identify the budgets in Column B from which dollar amounts are transferred directly in constructing the budgets listed in Column A: 1. Budgeted income statement a. Direct materials budget 2. Budgeted balance sheet b. Cost of goods sold budget 3. Cash flow budget c. Production budget 4. Cost of goods sold budget d. Payables budget 5. Production