SPRING TRAINING INC.
Balance
Sheet
December 31, 2017
ASSETS &nb
SPRING TRAINING INC.
Balance
Sheet
December 31, 2017
ASSETS
LIABILITIES
Cash
$25,000
Accounts
Payable
$50,000
Accounts
Rec.
5,000
Mortgage
Payable
50,000
Inventory
14,000
Supplies
2,000
Total
Liabilities
$100,000
Land
18,000
Buildings
$220,000
STOCKHOLDER
EQUITY
Acc. Depr. <20,000>
200,000
Equipment
200,000
Common Stock $5 Par
$30,000
Acc. Depr <14,000>
186,000
Excess of
Par
$300,000
Retained
Earnings
20,000
Total
Equity
$350,000
TOTAL ASSETS
$450,000
TOTAL LIAB. &
EQUITY ...
CurtainsMaster is a large proprietary company established in
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CurtainsMaster is a large proprietary company established in
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fabric curtains for household decoration. The company purchases
products from manufactures in Vietnam, Bangladesh, and China, and
then sells its products to wholesales customers in Australia,
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Argentina and Ecuador: Understanding the Currency Crisis
While fiscal policy is never far from the mind...
Argentina and Ecuador: Understanding the Currency Crisis
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In early 2002,...
11B-3 Keystone Computers & Networks, Inc. (KCN), has 933
accounts receivable, with a total book value...
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that population, Adams, Barnes & Co. (ABC), CPAs, selected a
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Question 7
Abu Ltd had 100,000 shares in issue, but then makes a 1 for 5...
Question 7
Abu Ltd had 100,000 shares in issue, but then makes a 1 for 5
rights issue on 1 October 2017 at a price of GH¢1. The market value
on the last day of quotation with rights was GH¢1.60. Total
earnings are GH¢50,000 in 2017 and GH¢40,000 in 2016.
Required:
Calculate the Earnings per share for the year ended 31 December
2017 and the corresponding figure for 2016 in accordance with
IAS 33: Earnings per share
Question 5
Adom...
Revision Questions
1. Non-Current
Assets
Provide the journal entries for the following transaction:
Matthew built a...
Revision Questions
1. Non-Current
Assets
Provide the journal entries for the following transaction:
Matthew built a new building to store supplies for his business.
The builder charged $250,000, the electrician cost $10,000 and a
painter cost 5,000. A compulsory fire safety inspection was
conducted and cost $1,000. Matthew is still worried about the
building burning down and has purchased 12 months insurance for
$10,000 which covers the value of the building in case of
destruction.
Matthew calculated that the above...
Scott's Watermelon Company has the following inputs: Sales =
$44,000,000 Total assets on balance sheet =...
Scott's Watermelon Company has the following inputs: Sales =
$44,000,000 Total assets on balance sheet = $100,000,000 Total debt
in capital structure = $30,000,000 Ke = 15% Kd = 10% (before tax
adjustment) Tax rate = 40% The anticipated ongoing net operating
income (EBIT) is $17,000,000. With the following data, please tell
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Amy's Pet Supply Warehouse is trying to figure out their degree
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