Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Financial Accounting
In Module 2, the $35,000 worth of goods was never purchased, so that figure is irrelevant. Now with Module 3, we begin with a balance sheet that does not balance. To this, several changes are to be made. The company raised an additional $225,000, which balances because Common Stock increases by that amount, and the company receives that much Cash. The dividends represent a decline in cash of that amount, and a decline in Retained Earnings. The asset is covered by $400,000 in the land less $50,000 in cash, and the other $350,000 goes to Notes Payable. The result is as follows: This would not be sufficient to make up for the difference…
The first major adjustment that needs to be made, based on Module 2, is that the company needs to add back the $35,500 worth of inventory. This should never have been removed. The second adjustment is that the profit would have been higher, by $35,500 because the cost of goods sold included this sale that never happened. That will increase equity by $35,500. This still leaves the balance sheet unbalanced.
31-Dec-12
Balance Sheet
Assets
Current Assets
Cash
16700
Accounts Receivable
24500
Inventory
60500
Total Current Assets
101700
Fixed Assets
Equipment, net
425,000
425,000
Total Assets
526700
Liabilities
Short-Term Liabilities
Accounts Payable
67,000
Total Current Liabilities
67,000
Further, Oracle also has templates and process definitions for the electronics components market as well. Lastly the financial modules with Oracle can also be used for local government reporting in addition to SOX compliance. For the small business of $2M their needs are drastically different than the $100M distributor that has offices across multiple geographies. The $2M company for purposes of this example is a manufacturer of air conditioning spare
Accounting in British Petroleum Scope, Aims, and Objectives The research project proposed herein will examine the role of accounting in the past progression and current situation of British Petroleum, the company that came under intense public scrutiny last year due to the Deepwater Horizon oil spill that occurred in the Gulf of Mexico (Urbina 2010). In the ensuing year since the accident in the Gulf, however, interest in BP and its internal
Long-Term Financial Planning FedEx Corporation FedEx Corporation was established in 1971 and the company has four distinct business segments that include FedEx Express, FedEx Ground, FedEx Office and FedEx Freight. Over the years, the company has obtained 6-year of CAGR (compounded annual growth of 5%). However, the company is likely to obtain similar CAGR of 5.9% over the next 8 years based on current economic environment. (FedEx Corporation .2010. The WACC (weighted average
Personal Financial Situation The management of a Fortune 500 organization utilizes financial statements to craft corporate strategy on a quarter to quarter and year over year basis. These statements: balance sheet, income statement, and statement of cash flows contain crucial financial information which explicates how successful a company has been and its potential future prospects. These same three statements can be used by me as I face financial scenarios which require
Global Financial Strategy Critical assessment of the proposal to raise capital locally rather than in the UK In the analysis of the proposal of raising capital locally rather than in the UK, it is essential to consider four critical aspects: costs, risks, benefits/advantages, and limitations/disadvantages. In the presentation of this critical assessment, the focus will be on the four factors or aspect in order to offer reliable analysis of the situation. Costs In the
Business -- Corporate Finance -- IPO SLP Facebook, Inc. is a social networking company that engaged in a simultaneously successful and flawed IPO resulting in multiple lawsuits against the company and its underwriters. Though the IPO traded on huge volume and raised $16 billion, it also reportedly resulted in the loss of $billions to investors due to stock overvaluation and supposed mismanagement. Due to these successes and failures, Facebook, Inc.'s IPO