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Choose a unique business of your choice and assume its forecasted transaction which you might perform in July 2020. You have to build of assets for this business through equity or debt. Similarly assume possible sales and expenses for the same business. You are required to assume at least 15 authentic transactions related to this business in which you will cover all transactions related to assets, debt, equity, sales and expenses. After assuming transactions you will
Question a) Prepare an income statement for July.
Question b) Prepare a statement of owner's equity for July.
Question c) Prepare a balance sheet as of July 31.
Question d) Prepare a statement of cash flows for July.
Question e) Discuss the financial position of this business.
Should personal preference play any part in investment decisions? For example, if you don't care for Pepsi (the drink), would you be still be willing to invest in the company?
What types of business decisions can the managerial accountant support? Give an example of one decision that is supported by managerial accounting and the type of report that might be generated to help make the decision identified.
Beginning and ending prepaid insurance is $36,000 and $26,500 respectively. During the period, $30,500 of insurance expense was recorded.
Hastings and Netflix struck back with flat monthly fees for unlimited DVDs rentals, easy home delivery and returns via prepaid postage envelopes, and no late fees, which let customers keep DVDs as long as they wanted. some of the most attractive empl..
If XYZ's shares of ABC is considered an investment in trading securities, what is the impact of XYZ's investment in ABC shares on XYZ's net income in 2018?
Record the adjusting entry for each of the following accrued expenses at the end of the current year: (a) product warranty cost, $22,500; (b) interest on the nine remaining notes owed to Valley Equipment Co.
Wood Co.'s dividends on noncumulative preferred stock have been declared but not paid. Wood has not declared or paid dividends on its cumulative preferred stock in the current or the prior year and has reported a net loss in the current year. For the..
From the information you have received, complete the following steps. Post the journal entries to the General Ledger Accounts and Find General Ledgers ending balances to transfer them to the worksheet
Industrial Electronics, Inc. This case has been selected to give you experience in using cost accounting as the basis of a compensation system. You will have to evaluate an existing system, a proposed system, and comment on the strengths and weakness..
There are many situations that may motivate managers to commit financial statement fraud. Please list at least two situations that you feel would be good motivation for managers to commit financial statement fraud. In addition to listing these situat..
Income may be realized in any form, whether in money, property, or services. Generally, interest received from state or local bonds is not taxable.
In your opinion is risk an important consideration in financial decision making? Why? How is it related to returns? Provide the suitable example.
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