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Financial Statements
A financial statement is a record of the financial activities of a person or business entity where all related financial information are presented in an orderly manner and can be easily understood.
5,583 Questions
Net income = total assets * return on total assets.
net income = 1275 * 0.12 = 153
From my understanding, the use of ADA is a sign of accrual basis accounting. Accrual Accounting records all transactions as they are made, even when cash is not collected or paid out. ADA is used for customers who have purchased on credit and what the company can reasonably expect to be noncollectable.
In cash basis accounting, you would not need ADA because there are no "credit" sales recorded. All sales recorded or recorded only when cash is received.
modified opinion
non- current assets
What is the journal entry for Personal expenses paid by partner?
Generally speaking the best way a partnership can deal with this type of thing is to record a withdrawal from the business funds. It's like paying yourself (or your partner) a salary, however, since taxes are paid on these funds already no taxes need be withheld from such a withdrawal. Personal accounts should remain "out" of the equation even if the partner specifically paid "X" amount for personal expenses. Instead, let's say these personal expenses amounted to $5,000, the only transaction that needs to be recorded for this is a withdrawal. Say John pays $5,000 for Bob's personal expenses out of the companies account, a simple recording of this transaction would be something like..
Withdrawal for personal use (Bob) (debit) $5,000
Cash (credit) $5,000
Even a single owner of a business will make a recording for this type of transaction. It is merely a withdrawal of money that he (or each partner) legally own.
Your question is much too vague. "Financial decision analysis" is a general phrase that refers to a broad category of analyses and reports involved in financial decisions (of any kind).
What is the formula of burden coverage?
Burden Coverage Ratio = EBIT/Interest Expense+[Principal Payment*(1-Tax Rate)
Weighted-average contribution margin?
Weighted average contribution margin is the weighted amount of contribution margin generated by all units of different mix of products to recover the total fixed cost of company.
Managerial accounting places considerable weight on?
Managerial accounting places emphasis on how the numbers actually affect the organization. In managerial accounting, managers want to know what is important to decision making.
Effects of final account if depreciation is ommitted?
if depreciation is omitted on final account it will Over state the profit .
What is KFC's annual turnover?
lol!! i am still finding the answer to this question *school purpose* (sic)
What if cash flow is negative?
Negative cash flow means cash outflow from business and overall negative cash flow means more cash outflows from business then cash inflow.
Does sales made on credit cause accounting profit and cash flow to differ?
Yes, because due to sales on credit sales are accounted for when they are occurred while cash is received in some future time that;s why accounting profit and cash flows differ due to recognition timing difference.
There were a number of laws passed in the US after the stock market disasters of 1927.
The big four laws that established the SEC and its powers were the Securities Exchange Act of 1933 and Securities Act of 1934 and then Trust Indenture Act 1939 and Investment Company Act of 1940.
These were modified in later years including Sarbanes Oxley in 2002, among others.
Is purchase for resale is an expenses?
No. Purchases for resale is treated as current asset.
Accounting entry:
Step 1: Purchase of equipments for resale in cash
Debit Equipments (Increase in asset)
Credit Cash (Decrease in asset)
Step 2: Resale of equipments in cash
Debit Cash (Increase in asset)
Credit Equipment (Decrease in asset)
Where do you add bonus in balance sheet?
Bonus is part of income statement is already paid if not paid then it is part of liability side if payable in future.
Beavers ten commandments to financial statements analysis?
1. Thou shalt not use financial statements in isolation
2. Thou shalt not use financial statements as the only source of firm-specific information
3. Thou shalt not avoid reading footnotes, which are an integral part of financial statements
4. Thou shalt not focus on a single number
5. Thou shalt not overlook the implications of what is read
6. Thou shalt not ignore events subsequent to the financial statements
7. Thou shalt not overlook the limitations of financial statements
8. Thou shalt not use financial statements without adequate knowledge
9. Thou shalt not shun professional help
10. Thou shalt not take unnecessary risks
What is the effect on wrong treated revenue expenditure as capital expenditure?
The effects it would has on net profit and net asset is that there would be an increase in net profit and an increase in net asset as well
What main changes have taken place in business administration in the last few years?
Some simple answers would be: Communication, for example with the mobile phon, e-mails and instant messaging.
Ways of research: Instead of having to read a book from your local libary can just explore the internet for loads more information (easier to find thanks to search engines).
General computer use, such as instead of writing out a task then filing it you could just type it up, save it, send it, it is filed on the pc, saves using the postal system as much when you can just fax or email something.
There are loads more i just needed three simple ones for an easy answer and these where the ones i thought of. Hope this helps a few of you
Foxy Bingo, like many reputable online bingo sites, offer players the change to self excluded. This is part of their commitment to responsible gaming.
You may have requested the self exclusion or hit a button accidently in the "my account" section of the site.
If you wish to end your self exclusion period it is very difficult to convince any site that you should be allowed to do so. They have a responsibility to their players.
Why does an increase in sales lead to a negative cash flow?
There can be several causes of this odd situation (from most to least likely): 1. Accounts Receivable (AR) increases. AR is when customers purchase on credit, usually over a 30-day period. If you're spending cash to make your product, but you're selling it as AR, you will experience a temporarily negative cash flow. Try exploring setting up some Accounts Payable with suppliers to stabilize your cash. 2. Your profit margin is too small. If the costs of production plus the costs of overhead (especially selling) are too close to your sale price, you may find yourself losing money to your variable expenses (costs that change based on the amount of product you make). Increase your sale price. 3. Production capacity is overwhelmed. Your factory is running at 100%, yet you are selling more than you're making. You want happy customers, so you start authorizing overtime, work your equipment harder than it should, and possibly subcontract to another company to meet demand. That causes your costs to skyrocket, without a matching jump in sale price. Increase your sale price. This does two things: a) demand will go down somewhat, making it easier to manage until you can expand production by adding capacity, and b) help fund that expansion, growing your business organically. Use this info at your own risk. I'm merely an Accounting Major-in-waiting! ;) ~pS!~
