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Business Accounting Connect Access Card for Financial Accounting: Information and Decisions

The Balance sheet is a summary of Assets, Liabilities and equity accounts that reports the financial position of the business as on a specific date. In a classified balance sheet, assets are further classified into current assets, long term investments, plant assets, and intangible assets. And liabilities are further classified into current liabilities and long term liabilities. To indicate: the comparison of cash and cash equivalents with current assets as of December 31, 2014 and comparison of cash atDecember 31, 2014 with cash at December 31, 2013. The comparisons are shown below: Comparison of cash and cash equivalents with current assets as of December 31, 2014: Cash and cash equivalent as % of current assets 14.63% Comparison of cash atDecember 31, 2014 with cash at December 31, 2013: Thousands $ Increase in Cash and cash equivalent at Dec. 31, 2014 528,153 % Increase in Cash and cash equivalent at Dec. 31, 2014 3.41% The cash and cash equivalent and current assets of a company can be found in the balance sheet which is reported its annual report for the year. The company has reported its balance sheet with the title consolidated statement of financial position . The comparisons are done as follows: Comparison of cash and cash equivalents with current assets as of December 31, 2014: Dec. 31, 2014 Thousands $ Cash and cash equivalent (A) 15,997,688 Current assets (B) 109,381,617 Cash and cash equivalent as % of current assets (A/B) 14.63% Comparison of cash atDecember 31, 2014 with cash at December 31, 2013: Thousands $ Cash and cash equivalent at Dec. 31, 2014 (A) 15,997,688 Cash and cash equivalent Dec. 31, 2013 (B) 15,469,535 Increase in Cash and cash equivalent at Dec. 31, 2014 (C) =(A-B) 528,153 % Increase in Cash and cash equivalent at Dec. 31, 2014 (C/B) 3.41%

The Balance sheet is a summary of Assets, Liabilities and equity accounts that reports the financial position of the business as on a specific date. In a classified balance sheet, assets are further classified into current assets, long term investments, plant assets, and intangible assets. And liabilities are further classified into current liabilities and long term liabilities. To indicate: the comparison of cash and cash equivalents with current assets as of December 31, 2014 and comparison of cash atDecember 31, 2014 with cash at December 31, 2013. The comparisons are shown below: Comparison of cash and cash equivalents with current assets as of December 31, 2014: Cash and cash equivalent as % of current assets 14.63% Comparison of cash atDecember 31, 2014 with cash at December 31, 2013: Thousands $ Increase in Cash and cash equivalent at Dec. 31, 2014 528,153 % Increase in Cash and cash equivalent at Dec. 31, 2014 3.41% The cash and cash equivalent and current assets of a company can be found in the balance sheet which is reported its annual report for the year. The company has reported its balance sheet with the title consolidated statement of financial position . The comparisons are done as follows: Comparison of cash and cash equivalents with current assets as of December 31, 2014: Dec. 31, 2014 Thousands $ Cash and cash equivalent (A) 15,997,688 Current assets (B) 109,381,617 Cash and cash equivalent as % of current assets (A/B) 14.63% Comparison of cash atDecember 31, 2014 with cash at December 31, 2013: Thousands $ Cash and cash equivalent at Dec. 31, 2014 (A) 15,997,688 Cash and cash equivalent Dec. 31, 2013 (B) 15,469,535 Increase in Cash and cash equivalent at Dec. 31, 2014 (C) =(A-B) 528,153 % Increase in Cash and cash equivalent at Dec. 31, 2014 (C/B) 3.41%

Solution Summary: The author explains that the balance sheet is a summary of Assets, Liabilities and equity accounts that reports the financial position of the business.

Connect Access Card for Financial Accounting: Information and Decisions

Connect Access Card for Financial Accounting: Information and Decisions

8th Edition

ISBN: 9781259662966

Author: John J Wild

Publisher: McGraw-Hill Education

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Connect Access Card for Financial Accounting: Information and Decisions

Ch. 6 - List the seven braod principles of internal...Ch. 6 - Prob. 2DQ Ch. 6 - Prob. 3DQ Ch. 6 - Prob. 4DQ Ch. 6 - Prob. 5DQ Ch. 6 - Prob. 6DQ Ch. 6 - Prob. 7DQ Ch. 6 - Prob. 8DQ Ch. 6 - Prob. 9DQ Ch. 6 - Prob. 10DQ

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