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Essay / Research Paper Abstract
This 8 page paper tutors the student on how to answer set questions regarding balance sheet and income statement formation and calculations. The bibliography cites 8 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEquet11.rtf
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Unformatted sample text from the term paper:
a) The costs are given as percentages, therefore the following is true Sales 700,000 Cost of goods sold 490,000 Admin costs 84,000 Depreciation 10,000 Interest expense 8,000 Net
earnings 108,000 Tax at 30% 32,400 Earnings after tax 75,600 b), The suggested changes will result in the following Sales 750,000 Cost of goods sold 495,000 Admin costs 105,000
Depreciation 10,000 Interest expense 15,000 Net earnings 125,000 Tax at 30% 37,500 Earnings after tax 87,500 This means that the changes, if they work, will be more profitable for
the company. Question 6; When defining if an item is a current or a non current item, current items are those which hare expected to materialise in the
next twelve months (Elliott and Elliott, 1998). Therefore, from the list given accounts payable, prepaid expenses (mostly), accrued wages, inventory and accounts receivable are all current. Non current items include
retained earnings, plant and equipment, common stock, bonds payable (unless they are due within twelve months), preferred stock, capital in excess of par and marketable securities. The later may be
seen as current depending on what the securities are. Question 7 The following would be placed in the following order on an
income statement Sales, cost of goods sold, gross profit, selling and admin expenses, depreciation, operating profit, interest expense, earnings before taxes, taxes, earnings after taxes, preferred stock dividends, earnings available
to common stockholders, gross profit shares outstanding, earnings per share. Question 8; In looking at changes in items the following will increase or decrease cash flow. Increase
in accounts receivable decrease cash flow (more in due rather than paid) Increase in notes payable decrease cash flow Depreciation expense no impact on cash flow Increase in investments decrease cash flow Decrease
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