See Excel Sheet b. Which types of analytical procedures did you use to determine the estimate? c. Suppose that you find that the interest expense account shows expense of $23,650 related to these notes. What could account for this difference? d. Suppose that you find that the interest expense account shows expense of $24,400 related to these notes.
Given the following Euro to $ Exchange rate of 1.46, what is the information contained in this quote? If the Purchasing Power Parity Theory is correct, what is true about the relationship between the US dollar and the Euro at this exchange rate? a. 3. A US multinational company is required to report its financial results in US dollars.
$ 7,000 n Equipment e.g. computers, tablets, etc. $ 5,000 $ 500,000 $1,405,000 n n Building Cash + Balance Sheet Assets Cash at Bank Supplies Furniture Equipment Building Liabilities Owner’s Equity Capital 2,000,000 2,000,000 1,405,000 7,000 83,000 5,000 500,000 2,000,000 + General Journal Particulars Cash at Bank G. Soelistio - Capital Building Cash at Bank Furniture Cash at Bank Cartage Cash at Bank 100 100 7,000 7,000 5,000 5,000 Dr 2,000,000 2,000,000 500,000 500,000 83,000 83,000 Cr
Financial Analysis Project Go to the Cango intranet http://myphlip2.pearsoncmg.com/masteringbusiness/cango/ and pull the financial statements. Use these to fill out the table found in Doc Sharing labeled Financial Analysis Project. Ratio | Formula(express the ratio in words) | Detailed Calculation(actual numbers from the financial statements used for the calculation) | Final number(Final result of the detailed calculation) | Explanation of why it is important | Efficiency RatioReceivable Turnover | sales/accounts receivables | 51,000,000/33,000,000 | 1.5455 | Shows the sales average of the accounts receivables | Efficiency RatioInventory Turnover | Sales/Inventory | 51,000,000/32,000,000 | 1.5938 | Shows how many times CanGo inventory sold and replaced over a period. |
2. The accounting principle that requires important noncash financing and investing activities be reported on the statement of cash flows or in a footnote is the: A. Historical cost principle. B. Materiality principle. C. Full disclosure principle.
Explain the meaning of money multiplier and its role? (6) The money multiplier calculates the maximum amount of money that an initial deposit can be expanded to with a given reserve ratio. Money multiplier can also be expressed as a ratio of a change in money supply divided by a change in money base. The role of the multiplier is that it explains why output fluctuates.the money multiplier is a multiple of reserves; this multiple is the reciprocal of the reserve ratio, and it is an economic multiplier.In monetary economics, a money multiplier is one of various closely related ratios of commercial bank money to central bank money under a fractional-reserve banking system. Most often, it measures the maximum amount of commercial bank money that can be created by a given unit of central bank money.
7: P7–6. * Chapter 2: P2–2 Financial statement account identification: Mark each of the accounts listed in the following table as follows: a) In column (1), indicate in which statement—income statement (IS) or balance sheet (BS)—the account belongs. b) In column (2), indicate whether the account is a current asset (CA), current liability (CL), expense (E), fixed asset (FA), long-term debt (LTD), revenue (R), or stockholders’ equity (SE). | (a) | (b) | Account name | Statement | Type of account | Accounts payable | BS | CL | Accounts receivable | BS | CA | Accruals | BS | CL | Accumulated depreciation | BS | FA | Administrative expense | IS | E | Buildings | BS | FA | Cash | BS | CA | Common stock (at par) | BS | SE | Cost of goods sold | IS | E | Depreciation | IS | E | Equipment | BS | FA | General expense | IS | E | Interest expense | IS | E | Inventories | BS | CA | Land | BS | FA | Long-term debts | BS | LTD | Machinery | BS | FA | Marketable securities | BS | CA | Notes payable | BS | CL | Operating expense | IS | E | Paid-in capital in excess of par | BS | SE | Preferred stock | BS | SE | Preferred stock dividends | IS | E | Retained earnings | BS | SE | Sales revenue | IS | R | Selling expense | IS | E | Taxes | IS | E | Vehicles | BS | FA | * * Chapter 4: P4–23 Funding your retirement: You plan to retire in exactly 20 years. Your goal is to create a fund that will allow you to receive $20,000 at the end of each year for the 30 years between retirement and death (a psychic told you would die exactly 30 years after you retire).
ECON 2035—Spring 2012 Review Questions for Exam 3 (chapters: Central Banks & the Federal Reserve System, the Money Supply Process, and only part of Tools of Monetary Policy—just the Conventional Monetary Policy Tools section) Exam 3: WEDNESDAY APRIL 25 30 Multiple choice questions 1. What is a central bank? • A government institution that serves as a banker’s bank & is responsible for conducing monetary policy & promoting stability in the financial system 2. In 1900 there were about 18 central banks in the world, but today there are about 160 central banks in the world. Why are there more central banks today than in 1900?
Inventory $2,573 $3,220 ($ 647) Accounts Payable $1,556 $1,702 $ 146 Accruals $ 268 $ 408 $ 140 $ 798 AXTEL COMPANY Statement of Cash Flows For the period ended 12/31/X1 ($000) OPERATING ACTIVITIES: Net Income $3,116 Depreciation $1,166 Change in WC $ 798 Cash from Operating Activities $5,080 INVESTING ACTIVITIES: Increase in Fixed Assets ($1,882) Cash from Investing Activities ($1,882) FINANCING ACTIVITIES: Decrease in Debt ($1,110) Dividends Paid ($1,727) Stock Retired ($1,000) Cash from Financing Activities ($3,837) NET CASH FLOW ($ 639) Reconciliation Beginning Cash $3,514 Net Cash Flow ($ 639) Ending Cash
Week 8 Assignment Kenny D. Gilchrease, Sr. March 1, 2014 Accounting 100 Professor Raymond Schafer Strayer University Financial Statements * Balance Sheet – A financial statement that reports the assets, liabilities and owner’s equity at a specific date. * Income Statement – A financial statement that presents the revenues and expenses and resulting net income or net loss of a company for a specific period of time. * Owner’s Equity Statement – A financial statement that summarizes the changes in owner’s equity for a specific period of time. * Statement of cash flows – A financial statement which summarizes information about the cash inflows (receipts) and outflows (payments) for a specific period of time. (Weygandt, Kimmel and