Examine financial commentary that interprets and analyses published financial information. 1.1: Explain the main items commented...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Examine financial commentary that interprets and analyses published financial information. 1.1: Explain the main items commented on and explain their importance. 1.2: Identify trends in published accounting information. Balance Sheet December 31st 2016 (£) 2017 (£) Assets Cash 2,000 4,500 Accounts receivable (net) 2,000 6,500 Inventory 2,000 5,000 Property, plant, and equipment (net) 20,000 35,000 Other assets 4,000 5,000 Total assets £30,000 £56,000 Liabilities and Stockholders' Equity Accounts payable 2,500 3,000 Notes payable 1,500 4,000 Bonds payable 10,000 30,000 Common stock, £1 par value 1,000 3,000 Additional paid-in capital 9,000 9,000 Retained earnings 6,000 7,000 Total liabilities and stockholders' equity £30,000 £56,000 Income Statements For the Year Ended December 31, Net sales 2016 (£) £53,000 2017 (£) £86,000 Costs and expenses Cost of goods sold Selling expenses Administrative expenses 37,000 61,000 7,000 10,000 4,000 5,000 Total costs and expenses £48,000 £76,000 Income from operations 5,000 10,000 Interest expense 1,400 3,200 Income before income taxes £3,600 £6,800 Income taxes 1,800 3,400 Net income £1,800 £3,400 Examine financial commentary that interprets and analyses published financial information. 1.1: Explain the main items commented on and explain their importance. 1.2: Identify trends in published accounting information. Balance Sheet December 31st 2016 (£) 2017 (£) Assets Cash 2,000 4,500 Accounts receivable (net) 2,000 6,500 Inventory 2,000 5,000 Property, plant, and equipment (net) 20,000 35,000 Other assets 4,000 5,000 Total assets £30,000 £56,000 Liabilities and Stockholders' Equity Accounts payable 2,500 3,000 Notes payable 1,500 4,000 Bonds payable 10,000 30,000 Common stock, £1 par value 1,000 3,000 Additional paid-in capital 9,000 9,000 Retained earnings 6,000 7,000 Total liabilities and stockholders' equity £30,000 £56,000 Income Statements For the Year Ended December 31, Net sales 2016 (£) £53,000 2017 (£) £86,000 Costs and expenses Cost of goods sold Selling expenses Administrative expenses 37,000 61,000 7,000 10,000 4,000 5,000 Total costs and expenses £48,000 £76,000 Income from operations 5,000 10,000 Interest expense 1,400 3,200 Income before income taxes £3,600 £6,800 Income taxes 1,800 3,400 Net income £1,800 £3,400
Expert Answer:
Related Book For
Accounting Business Reporting For Decision Making
ISBN: 9780730302414
4th Edition
Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver
Posted Date:
Students also viewed these accounting questions
-
Managers must keep up with changing consumer preferences related to alcoholic beverage products. What methods and information sources can be used to help managers do so?
-
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
In Problems 4358, (a) Find the vertex and the axis of symmetry of each quadratic function, and determine whether the graph is concave up or concave down. (b) Find the y-intercept and the...
-
A rigid tank with a volume of 1 m3 contains superheated steam at 500 kPa and 500oC. Determine (a) The mass. (b) Total internal energy (U) of the steam. The tank is now cooled until the total internal...
-
What ongoing decisions are necessary about the size of franchise areas?
-
A frame has a length of \(50 \mathrm{in}\). Calculate the width rounded to the nearest inch if the frame is to be a golden rectangle.
-
On March 7, 2012, Celgene Corporation acquired all of the outstanding stock of Avila Therapeutics, Inc. in exchange for $352.2 million in cash plus contingent consideration. Referring to Celgenes...
-
Guess the value of the limit (if it exists) by evaluating the function at the given numbers. (It is suggested that you report answers accurate to at least six decimal places.) 2.7x - e3.3x Let f(x) =...
-
A loan of $ 2 4 2 4 borrowed today is to be repaid in three equal installments due in one dash and dash a dash half years , four years , and five years , respectively. What is the size of the equal...
-
How might a witnesss statement be impeached?
-
What is the other assumption that must be true? There are two assumptions that must be true in order to perform an F test of two variances.
-
Internal auditors focuson-;external auditors are more concerned with -.(Fill in the blanks.) a. financial statements; risk assesment b. company policies and procedures; financial statements C....
-
Why are communications between a lawyer and the client subject to the lawyer-client privilege?
-
There are several exceptions to the hearsay rule. Identify at least three exceptions and give an example of each.
-
Indigo Corporation issues 6100, 10-year, 8%, $1000 bonds dated January 1, 2020, at 102. The journal entry to record the issuance will show a O debit to Premium on Bonds Payable for $122000. O credit...
-
7. FALSE DILEMMA 8. GANDWAGON Definition: Fallacy example: How to revise argument: Definition: Fallacy example: How to revise argument:
-
From the six scenarios described below, indicate (giving your reasons) the business form each one is likely to take - sole trader, partnership, company or trust. a. Sarah and Michaela wish to start...
-
From the following account balances of Daisy Pty Ltd as at 30 September 2013, produce a balance sheet in both the T-format and the narrative format: Cash at bank...
-
The following account balances for the year ended 31st December 2013, relate to Tan Pty Ltd. Additional information at 31 December 2013: Fees of $200,000 included in the above balance of $6,000,000...
-
Service firm joint costing Graves Learning Services provides a learning service center to students who want to improve their academic performance. The four service programs currently offered are...
-
Joint product decisions The Pearly Waters Perfume Company manufactures various qualities of perfumes and colognes. One popular line of colognes includes three products that result from a joint...
-
Joint product decision analysis The Maplewood Products Company manufactures three wood treatment products in a joint production process. Each product has certain finish and preservative properties...
Study smarter with the SolutionInn App