Income statement Archives

Balance sheet and income statement materiality for the audit of Westmoreland financial statements is $75,000. What is your conclusion about the financial statements if the audit findings are not corrected by Westmoreland management before you issue the audit report?

Posted on February 23, 2023 by Assessments

The following items were discovered during the December 31, 2019, audit of the financial statements of Westmoreland Corporation: 1. The company’s financial statements did not include an accrual for bonuses earned by senior management in 2019 but payable in March 2020. The aggregate bonus amount was $125,000. 2. Equipment originally costing $725,000 that was fully […]

What is the accounting cycle? Explain every step starting from analyzing transactions to preparing post-closing trial balance.

Posted on September 29, 2022 by Assessments

Q1. On your own words, outline the accounting principles and assumptions and explain each one. Q2. What is the accounting cycle? Explain every step starting from analyzing transactions to preparing post-closing trial balance. Q3. Based on the following trial balance for ABC Co, prepare an income statement, statement of retained earnings and a balance sheet. […]

ITech Geek is not familiar with the mechanics of corporate bond valuation. They are interested in the fact that bond prices converge to their PAR value as the date to maturity nears. Explain this concept to ITech Geek management.

Posted on March 26, 2022 by Ambrose

Project Questions All questions are equally weighted Our client ITech Geek has several questions for us to answer as their consultant firm concerning valuation, which cash flows matter, the calculation of these cash flows, convergence to a perpetuity, and bond pricing, among others. These are outlined below. Question 1 ITech Geek is a publicly traded […]

Using the information from the websites develop evaluation of bond and stock performance for your chosen company.

Posted on February 22, 2022 by Ambrose

OBJECTIVE In this part of the project you are to assume to have been hired to join a team serving as an internal financial analyst to a company. Your client plans to invest in bonds and (or) stocks issued by the company. In part 6 of the assignment you are asked to provide some recommendations […]

Provide two or more suggestions on what Arrington, Inc. could do to reduce the forecasted debt financing. Be sure to provide rationales as to why your suggestions will be effective in reducing the forecasted debt financing need.

Posted on January 26, 2022 by Ambrose

Assignment: Application – Estimating Financing Needs In your accounting course, you learned about the income statement that provides a record of what led to net income for the year. Just as you might develop a forecast of the future year’s budget, financial professionals forecast future income by developing a one-year forecast of the firm’s income […]

Investigate the price and quantity at which this product is available at the warehouse. Choose a selling price for the smaller (repackaged) package. Make reasonable assumptions about how many of the smaller units you can sell in each of the next four months.

Posted on December 11, 2021 by Ambrose

Find pace 530 in your text from Chapter 9 and complete Mini Case A9-75. A9-75 Budgeting for a Single Product In this activity, you will be creating budgets for a single product for each of the months in an upcoming quarter. Select a product that you could purchase in large quantities and repackage into smaller […]

He has also noticed that assets minus liabilities equals net assets on one statement but assets minus liabilities equals the fund balance on the other. How can this be? Shouldn’t they be the same? What is the difference between the two? Explain.

Posted on December 9, 2021December 9, 2021 by Ambrose

Governmental Reporting, Foreign currency translation and remeasurement Question 1: Governmental Reporting You have recently graduated from an accounting program and been hired for a position in the administrative office of the City of East Chester. The city has just elected a new mayor who was a local football hero and is fond of saying he […]

Prepare a one page analysis results of vertical analysis and horizontal analysis make a comment on all of them as explained on the docs .

Posted on November 3, 2021 by Ambrose

Prepare a one page analysis results of vertical analysis and horizontal analysis make a comment on all of them as explained on the docs . Do all : 1-7 150 words each 1. Income statement- component % 2. Income statement- $ change : % change 3. Balance sheet- component % 4. Balance sheet- $ change […]

Explain the different methods you used, and discuss why you made various assumptions. For each line item, you can put in short explanations directly in the spreadsheet.

Posted on September 29, 2021 by Ambrose

Finance Description This is a group assignment; portion is: “Balance Sheet Forecast and Income Statement” on the Ford Motor Company. See the example paper and workbook for methods to forecast the financial statements. However, adjust what you do to what matches your company’s situation. You are also encouraged to use your own methods. Explain the […]

Describe why cash flow management is important to a business and its financial health. Use a recent financial news story as an example to support your claims.

Posted on September 15, 2021 by Ambrose

Journal: Financial Statements and Cash Flow Management Overview In Project Two, you will analyze and evaluate a business’s financial health and recommend the best financing options for the business to choose in order to improve its current financial health. Use the Project Two Business Options List to choose the business that you will examine in […]

Essay Quoll

Tag: Income statement

Balance sheet and income statement materiality for the audit of Westmoreland financial statements is $75,000. What is your conclusion about the financial statements if the audit findings are not corrected by Westmoreland management before you issue the audit report?

What is the accounting cycle? Explain every step starting from analyzing transactions to preparing post-closing trial balance.

ITech Geek is not familiar with the mechanics of corporate bond valuation. They are interested in the fact that bond prices converge to their PAR value as the date to maturity nears. Explain this concept to ITech Geek management.

Using the information from the websites develop evaluation of bond and stock performance for your chosen company.

Provide two or more suggestions on what Arrington, Inc. could do to reduce the forecasted debt financing. Be sure to provide rationales as to why your suggestions will be effective in reducing the forecasted debt financing need.

Investigate the price and quantity at which this product is available at the warehouse. Choose a selling price for the smaller (repackaged) package. Make reasonable assumptions about how many of the smaller units you can sell in each of the next four months.

He has also noticed that assets minus liabilities equals net assets on one statement but assets minus liabilities equals the fund balance on the other. How can this be? Shouldn’t they be the same? What is the difference between the two? Explain.

Prepare a one page analysis results of vertical analysis and horizontal analysis make a comment on all of them as explained on the docs .

Explain the different methods you used, and discuss why you made various assumptions. For each line item, you can put in short explanations directly in the spreadsheet.

Describe why cash flow management is important to a business and its financial health. Use a recent financial news story as an example to support your claims.