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Assignment
Read the Success on the OAES document for full instructions about how to use this system.
The following will be 2 points each:
1: Explain why stewardship is an important concept. 2: What three traditional functions does accounting fulfill?3: What types of groups regulate financial accounting statements?4: What is managerial accounting and how is it different from financial accounting?5: Explain value based management and shareholder value.6: What are some of the rights of shareholders in companies today?7: What is a financial audit?8: What elements or categories are on each of the financial statements? The OAES has two questions for this item, part a and part b.9: Which general ledger accounts would be affected by the purchase of goods on credit for later resale?10: Which general ledger accounts would be affected by the purchase of a computer for business on credit?
Use the following information to answer Questions 1 to 5
Kochyo purchases an inventory of spare parts on credit from its suppliers for $15,000. During the month Kochyo pays its suppliers $10,000 and sells spare parts (which cost the business $8,000) to its customers on credit for $20,000. Customers pay Kochyo $12,000 during the month.
1: How much does inventory change?2: How much does payables change?3: What is the change in receivables?4: What is the change in net profit?5: How much does the bank account change?
a firm issued 5 year 6 annual coupon bonds 3 years ago. the bonds now have 2 years left to maturity and this years
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