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Q. Explain Vertical analysis?
Vertical analysis demonstrates the percentage that each item in a financial statement is of some significant total such as total assets or sales. For example in the Hewlett-Packard data we can see that cash and cash equivalents were 15.3 percent of total assets as of 1999 October 31 and had declined to 10.0 percent of total assets by 2000 October 31. Whole current assets (cash plus other amounts that will become cash or be used up within one year) increased from 61.3 percent of total assets to 68.3 percent during 2000. Long-term investments as well as other non-current assets accounted for 18.4 percent of total assets as of 2000 October 31.
An estimated liability: 1. Is an unknown liability of a certain amount. 2. Is a known obligation of an uncertain amount that can be reasonably estimated. 3. Is a liabil
Distinctions between management and financial accounting We can observe that management accounting is less constrained than financial accounting. It may draw from a range of s
Q. Learning objectives of trial balance? - The cash basis of accounting know revenues when cash is received and recognizes expenses when cash is paid out. - The accrual basi
Cross indexing is made up
Steps in recording business transactions Look at Exhibit 5 to observe the steps in recording and posting the effects of a business transaction. Note that a source document offe
What does a business owner do when the cash balance approaches zero and there are bills to be paid? (Hint: look at the financing activities of the Cash Flow Statement and then lo
1. Double declining method 2. Units of production method 3. Sum of year digit method 4. Straight-line method Depreciation Fund Method Insurance Method Annualy Method
Scanlon Technologies, Inc. Anne Scanlon founded Scanlon Technologies, Inc., in 1993. The company designed andmanufactured high-tech products that were used in various industrie
Q. Describe the essential steps in the closing process? In accounting we habitually refer to the process of closing as closing the books. Remember that merely expense, revenue
Q. What is Long-term liabilities? Long-term liabilities are debts such as a bonds payable and mortgage payable that aren't due for more than one year. Companies must show matur
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