Note: answer 7-10 Direction: Read the statements carefully. Write TRUE if the statement is correct. Otherwise,write FALSE.1. Abank ie e financial inctitution liconsed to rocoive deposite and make leansand may also provide financial services suckKa-IGIayemcnt, Currency exchange.andoafe deposit bexes.tinancing is thefinanoingiINKIESI amona all tsourcee of financing.AS he Phiippines offera fixed or -.5 For government luans, when the borrower eccives money from the approvedtean, paymENIS Shall be deducted every month from theii salary and will be forwarded tothe govermet agericy.Loan requirements for a persoal loan are just tne same in a luan appitationfor a coipuratiun._7. To avoid fraud, it is recommended to check the Philippine Stock Exchange(PSE) to see if a private lender is registered and has legitimate operations in the country.8. Short-term financing is needed for the purchase of inventory for a clothing shop.9. A franchise of a fast-food outlet requires short-term financing.10. Financial institutions serve most people in some way, as financial operationsare a critical part of any economy, with individuals and companies relying on financialinstitutions for transactions and investing.

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Answered: _7. To avoid fraud, it is recommended…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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How do I prepare the calculations
5 6 7 8 9 -0 31 32 33 34 35 36 File Edit View Insert Format Data Tools Extensions Help 2 100% 35 + •| fx A = 2 B Sheet1 |: Defaul... $ % .0 .00 123 C D T E Increase in accounts receivable Decrease in inventory Decrease in prepaid insurance Decrease in account payable Increase in income taxes payable Increase in dividends payable - 10 + The income statement disclosed the following items for the current year: Depreciation expense $36,000 Gain on disposal of equipment 21,000 317,500 Net income $5,600 3,200 1,200 3,800 1,200 850 F JUN 2 BIA . P G 88 23 - =- - PA - Balances of the current assets and current liabilities accounts changed between December 31, last year, and December 31, this year, as follows: H Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. J C
Exercise 5.1 (Static) Accounting Terminology (LO5-1, LO5-2, LO5-3, LO5-4, LO5-5, LO5-6 LO5-7) Listed as follows are nine technical terms: . Liquidity Adequate disclosure Income summary Nominal accounts . After-closing trial balance. . Interim financial statements .Real accounts Closing entries Dividends Each of the following statements may (or may not) describe one of these technical terms. For each statement, indicate the accounting term described, or answer "None" if the statement does not describe any of the items. a. The accounting principle intended to assist users in interpreting financial statements. b. A term used to describe a company's ability to pay its obligations as they come due. c. A term used in reference to accounts that are closed at year-end. d. A term used in reference to accounts that are not closed at year-end. e. A document prepared to assist management in detecting whether any errors occurred in posting the closing entries. f. A policy decision by a corporation…
Table 1: Half-Year Convention 200% Declining Balance Year 3 Year 5 Year 7 Year 1 33.33% 20.00% 14.29% 2 44.45% 32.00% 24.49% 3 14.81% 19.20% 17.49% 4 7.41% 11.52% 12.49% 5 11.52% 8.93% 6 5.76% 8.92% 7 8.93% 8 4.46% Below are four asset purchases made in Asset Cost Date Office Table $1,000 January 1 Office Desk 1,500 September 29 File Cabinet 2,000 October 15 Computer 6,000 December 31 What is the maximum 2018 Sec. 179 deduction for these purchases? $10,500 $2,500 $8,000 $0
Identity D Assignments: [Spring 2022] ACC X O Question 13 - Chapter 2 Homew X Eto.mheducation.com/ext/map/index.html?_con%3con&external_browser%3D0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fr 2 Homework a Saved Exercise 2-29 (Algo) Calculating and Interpreting the debt ratio LO A2 Company DreamWorks Pixar Universal Expenses $ 30,000 79, 000 16, 00 Total Assets $ 60,000 154, 000 76, 000 Net Income $ 27, 000 39,000 5, 800 Total Liabilities $ 45, 600 147, 800 21, 000 a. Compute the debt ratio for each of the three companies. (Round your answers to 2 decimal places.) Company Debt Ratio DreamWorks Pixar Universal b. Which company has the most financial leverage? Largest financial leverage 13 of 15 Next > < Prev
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Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by table lookup. (Use Table 14.1.) Purchase price of a used car $ Down payment 4,095 $ 95 Number of monthly payments 60 Amount financed Total of monthly payments $ 5,844 Total finance charge APR
1. MC.14.81.ALGO 2. MC.14.96.ALGO 3. MC.11.69.ALGO 4. MC.11.112.ALGO 5. MC.15.86.ALGO 6. MC.15.125 7. MC.16.71.ALGO 8. MC.16.86.ALGO 9. MC.17.87.ALGO 10. MC.17.129 11. MC.18.58.ALGO 12. MC.18.45.ALGO 13. MC.20.81.ALGO Mocha Company manufactures a single product by a continuous process, involving three production departments. The records. indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $50,000, $60,000, and $70,000, respectively. Department 2 has transferred-in costs of $390,000 for the current period. In addition, work in process at the beginning of the period for Department 2 totaled $75,000, and work in process at the end of the period totaled $90,000. The journal entry to record the flow of costs into Department 3 during the period is Oa. Work in Process-Department 3…
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QUESTION 5 Date 01/02/01 01/03/01 1 Mo 01/04/01 3 Mo N/A N/A N/A 6 Mo 1 Yr 5.11 5.58 5.44 5.20 5.87 4.82 4.92 5.69 4.92 5.14 5.37 4.78 5.03 Look at the yields for 01/02/01 in the above table. Which of the following best describes the shape of the yield curve at that time? O A. Inverted O B. Normal C. Flat D. Upward-Sloping 5.04 2 Yr 4.82 3 Yr 4.87 4.92 4.77 5 Yr 7 Yr 4.97 5.18 5.07 4.76 4.94 4.82 10 Yr

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