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Companies prepare balance sheets in order to know their financial position at a specific point in time. This enables them to make a comparison to their position at previous points in time and gives them a basis for planning for the future. In order to evaluate your financial position, you can prepare a personal balance sheet. Assume that you have compiled the following information regarding your finances.
Amount owed on student loan balance (long-term) ........$5,000Balance in checking account ..................1,200Certificate of deposit (6-month) ................3,000Annual earnings from part-time job ..............11,300Automobile ........................7,000Balance on automobile loan (current portion) ............1,500Balance on automobile loan (long-term portion) ..........4,000Home computer ........................800Amount owed to you by younger brother ..............300Balance in money market account .................1,800Annual tuition .......................6,400Video and stereo equipment .................1,250Balance owed on credit card (current portion) ............150Balance owed on credit card (long-term portion) .........1,650Instructions
Prepare a personal balance sheet using the format you have learned for a classified balance sheet for a company. For the equity account, use M. Y. Own, Capital.
the rolek company was involved in the following treasury stock transactions during 2010a. purchased 40000 shares of its
PepsiCo sells Pepsi Cola to non-PepsiCo restaurants at $0.53 per gallon. This is the market price of Pepsi-Cola. Pepsi-Cola's variable manufacturing cost is $0.09 per gallon and its total (fixed and variable) manufacturing cost is $0.22 per gallon..
Who are the stakeholders in this situation? What are the potential ethical issues and concerns? What suggestions can you make to reduce these concerns.
a corporate bond has a face value of 1000 and a coupon rate of 6.5. the bond matures in 10 years and has a current
Prepare the business Income Statement for the period. Prepare the classified Balance Sheet at the end of the period.
toby worked as an employee during the first half of 2013 earning 80000 of salary. tobys employer withheld 4960 of
what are some real-world examples of industries where economies of scale are extensive? what has happened to the size
What is the internal rate of return? What is the accounting rate of return based on the initial investment? What is the payback period?
1. External users want answers to all of the following questions except: 2. Debt securities sold to investors that must be repaid at a particular date some years in the future are called:
Explain the The similarities and differences between IFRS and US GAAP. IFRS adoption around the world, one country or a region. The history of the SEC's support for IFRS.
Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.
for the year ended december 31 2012 telmarine electrical repair company reports the following summary payroll
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