StylesSection V: SCF-Question 2How is the McDonald's SCF dated? Is it dated for a period of time similar to the incomestatement or for a point in time similar to the balance sheet? Why?Period of time or point in time?Click here to enter text.Why?Click here to enter text.D Focusnited States)20 Consolidated Statement of IncomeIn millions, except per share dataYears ended December 31, 201920182017REVENUESSales by Company-operated restaurantsRevenues from franchised restaurants$9,420.8$ 10,012.711,012.521,025.2$ 12,718.911,655.721,076.5d..... .10,101.5Total revenues22,820.4.OPERATING COSTS AND EXPENSESCompany-operated restaurant expensesFood & paper2,980.33,153.84,033.5Payroll & employee benefitsOccupancy & other operating expensesFranchised restaurants-occupancy expenses2,704.42,937.93,528.52,075.92,174.22,847.62,200.61,973.31,790.0Selling, general & administrative expensesOther operating (income) expense, net2,229.42,200.22,231.3(1,163.2)13,267.7(183.9)12,006.79,069.81,121.9(236.8)Total operating costs and expenses12,202.6..........Opgrating incomeIntérest expense-net of capitalized interest of $7.4, $5.6 and $5.3Nonoperating (income) expense, netIncome before provision for income taxes8,822.69,552.7981.2921.3(70.2)25.357.9******.8,018.17,816.18,573.5Provision for income taxes1,992.71,891.83,381.2$ 5,924.3$ 5,192.3*********Net income%246,025.42$7.612$6.43Earnings per common share-basicEarnings per common share-dilutedDividends declared per common share2$7.95247.882$7.542$6.37%244.73244.192$3.83758.1778.2807.4Weighted-average shares outstanding-basicWeighted-average shares outstanding-diluted764.9785.6815.5See Notes to consolidated financial statements.

Statement of cash flows shall be made for a point in time. The cash flow is prepared to analyse the liquidity of the organisation. It shows the position of a firms financial resources and obligations or liabilities at particular point of time unlike the income statment that is prepared for a period of time.

Business

Accounting

Section V: SCF–Question 2 How is the McDonald's SCF dated? Is it dated for a period of time similar to the income statement or for a point in time similar to the balance sheet? Why? Period of time or point in time? Click here to enter text. Why? Click here to enter text.

Section V: SCF–Question 2 How is the McDonald's SCF dated? Is it dated for a period of time similar to the income statement or for a point in time similar to the balance sheet? Why? Period of time or point in time? Click here to enter text. Why? Click here to enter text.

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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On January 31, Outback Coast Resorts Inc. reacquired 23,900 shares of its common stock at $31 per share. On April 20, Outback Coast Resorts sold 14,000 of the reacquired shares at $40 per share. On October 4, Outback Coast Resorts sold the remaining shares at $29 per share. Required: Journalize the transactions of January 31, April 20, and October 4. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
Selected journal entries for Sunland Enterprises are presented as follows. J1 Date Account Titles and Explanation Ref. Debit Credit May 5 Accounts Receivable 5,690 Service Revenue 5, 690 (Billed for services performed) 12 Cash 1, 660 Accounts Receivable 1, 660 (Received cash in payment of account) 15 Cash 3,350 Service Revenue 3, 350 (Received cash for services performed) Post the transactions using the standard form of account. (Post entries in the order presented in the problem.) Cash
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Question 28 The sum of customers' unpaid balances that is compared to the general ledger comes from: the total of sales invoices a total of shipping orders the sales journal the accounts receivable trial balance
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Rubin Enterprises had the following sales-related transactions on a recent day: a. Billed customer $28,600 on account for services already provided. b. Collected $5,715 in cash for services to be provided in the future. c. The customer complained about aspects of the services provided in Transaction a. To maintain a good relationship with this customer, Rubin granted an allowance of $1,500 off the list price. The customer had not yet paid for the services. d. Rubin provided the services for the customer in Transaction b. Additionally, Rubin granted an allowance of $480 because the services were provided after the promised date. Because the customer had already paid, Rubin paid the $480 allowance in cash. Required: Prepare the necessary journal entry (or entries) for each of these transactions.
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(a) Received $12,000 from Katie Long, owner. Purchased equipment for $25,000, paying $10,000 in cash (b) and giving a note payable for the remainder. (c) Paid $1,800 for rent for April (d) Purchased $9,800 of supplies on account. (e) Recorded $2,250 of fees earned on account. (f) Received $9,000 in cash for fees eamed (g) Paid $300 to creditors on account Paid wages of $1,650 (h) Received $1,190 from customers on account. (i) ()Recorded owner's withdrawal of $2,350
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