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Question - Prepare balance sheet as of 31 Jan 2010.
Fireflies began retail operations on Jan 1 2010 on that date it Issued 10,000 shares of $1 par value common stock for $50,000.
On Jan 1 2010 firefly also Borrowed $20,000 from a local bank. Loan is due in 3 years with 8% annual interest rate. Interest is paid every quarter. On Jan 31 firefly uses $36,000 of proceeds to rent a store paying in advance for the next one year. Firefly also Purchased $12,000 of merchandise on credit agreeing to pay the supplier within 60 days.
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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