Reference no: EM13862328
Go to each company s website and review the most recent financial statements for each company and answer the following questions.
What accounting standards are used?
What auditing standards are used by the external auditors?
Analyze and comment on the differences in the annual statements found on the companies' websites. Provide a few specific differences in
content and format.
How comparable are these financial statements?
Prepare a table for a period of three years showing some key financial information for the two companies. Include at least four items from
the balance sheet, four items from the income statement, and four items from the statement of cash flow. Having reviwed and analyzed
the financial information, please elaborate on the following three questions.
Which one of the two companies is the most profitable?
Compare growth of revenues versus income over time and between the two companies
How can you explain the difference in profitability between the two companies?
Indicate in detail the information you used to answer the above questions.
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What is the compound future amount
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Nominal interest rate
: What lump sum of money (P) must be deposited into a bank account at the present time so that $500/month (A) can be withdrawn for five years (N), with the first withdrawal scheduled 6 years from today at a nominal interest rate (r) of 9% per year?
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Compare growth of revenues versus income over time
: Compare growth of revenues versus income over time and between the two companies
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Statement of partnership liquidation
: On October 1, 2014, the firm of Sams, Price, and Ladd decided to liquidate their partnership. The partners have capital balances of $49,000, $69,000, and $11,000, respectively. All of the noncash assets are sold for $200,000 in cash, the creditors ar..
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Market value on the balance sheet date
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What is the accounting entries made
: What is the accounting entries made if a company pays $1,000 monthly rent in cash?
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