Financial Statements

Sales of $116,000 - Cost of Goods Sold $38,000 = Gross Profit $78,000

32.759%

To get the percentage Divide Cost of Goods Sold / Sales = Gross Profit Percentage

$38,000 / $188,000 = 0.327586206

Round to 0.32759 and convert to a percentage by moving the decimal two places to the right. 32.76%

To check our answer we multiply Sales * Gross Profit % = Gross Profit

$116,000 * 32.759% = $38,000.44 (approx. round to nearest dollar)

Numbers are rounded to nearest dollar, percents are rounded to the nearest hundred thousandths (most companies round to four decimal places, but to get a more accurate amount, I chose to round to five)

slowly.

Misappropriation means stealing, so it is stealing company assets. This could include cash, computers and peripherals, furnishings, etc.

dividend paid belongs to financing activities in cash flow statement as dividend is paid to stockholders who invests in company.

treasury stock is shown under cash flow from financing activities as a reduction in cash.

YTD (accounting year to date) revenue is the amount of money earned from the beginning of the financial year until the date the financial statement was prepared.

Presented below are the components in Waegelain Company's income statement. Determine the missing amounts.

sales Cost of goods gross profits operating Expenses Net Income

a. 80,000 - 35,040 20,900

b. 117,700 76,830 - - 23,580

c. - 25,360 84,050 49,340 -

25 dollars

There are currently 41 IAS and 9 IFRS.

Although not all of the ISAs are still used as they superseded by other standards and made outdated.

no

A Partnership firm is not required to file audited financial statements with the Ministry of Corporate Affairs each year. Therefore, audit of financial statements is not required. However, tax audit may be required for a Partnership firm if the turnover exceeds prescribed limits.

People prefer predictability as a stable earning trend would mean that he or she could make future plans that have a good chance of happening according to plan. There is a sense of security in stability.

A Balance Sheet

what are some research proposals topics in accounting and finance

Annuity is fixed sum of money paid every year in at any other fixed interval shorter than a year. This annuity may be by way of return of some principal plus interest payment of against money invested or by way of payment of other dues such as pensions after retirement. In any case it represents out flow of cash from one account to in flow of cash to another account. In this way all annuities involve movements of cash or funds. Therefore all annuities are cash flows that can be suitably represented in cash flow statements.

An annuity will be represented as inflow of cash in the cash flow statement for the recipient of the annuity and out flow of cash in the cash flow statement of the person or firm paying out the annuity.

Debit Interest Expense and Credit Bond Payable.

The objective of process capability is to determine what is the probability of the process producing product within the tolerance or specification limits provided by the customer.

only the liabilities

Cash equivalents

Interest A\c Dr

Accured debenture Cr

B) Cost of wages of assembly worker is a direct labor cost.

A common sized balance sheet

Present value of single cash flow is as follows:

PV = FV (1 + i)^n

Where

PV = Present value

FV = Future value

i = Interest

n = time

your taking accounting for managers too huh? lol

In a financial audit, the management of an organization asserts that the financial statements are prepared in accordance with generally accepted accounting principles (GAAP), the applicable criteria.