Examine financial commentary that interprets and analyses published financial information. 1.1: Explain the main items commented...
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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
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Accounting Business Reporting For Decision Making
ISBN: 9780730302414
4th Edition
Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver
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