Question

Aqua Swimming Club’s financial statements follow.


Aqua Swimming Club
Balance Sheet
November 30, 2014


Required
1. Explain how Aqua Swimming Club’s four statements relate to each other.
2. Which statements are most closely associated with the goals of liquidity and profitability? Why?
3. If you were the owner of this business, how would you evaluate the company’s performance? Give specific examples.
4. If you were a banker considering Aqua Swimming Club for a loan, why might you want the company to be audited by an independent CPA? What would the audit tellyou?


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  • CreatedMarch 26, 2014
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