Running head: ACCOUNTING STATEMENT ANALYSIS Accounting Statement Analysis Name of the Student: Name of the University: Author’s Note:
2ACCOUNTING STATEMENT ANALYSIS Table of Contents Answer to Question 2:.....................................................................................................................3 Answer to Question 5:.....................................................................................................................4 Requirement a & b:......................................................................................................................4 Requirement c:.............................................................................................................................4 Answer to Question 9:.....................................................................................................................4 Answer to Question 17:...................................................................................................................5 Answer to Question 21:...................................................................................................................5 Bibliography:...................................................................................................................................7
3ACCOUNTING STATEMENT ANALYSIS Answer to Question 2: %NovDecJanFebMar Sales$80,000$100,000$90,000$70,000$50,000 Credit Sales$32,000$40,000$36,000$28,000$20,000 SameMonth$17,640$13,720$9,800 1month$12,000$10,800$8,400 2months$6,400$8,000$7,200 Cashsales$54,000$42,000$30,000 Total cashcollected$90,040$74,520$55,400 CashReceiptBudget DecJanFebMar of$100,000$90,000$70,000$50,000 Purchases60%Sales$60,000$54,000$42,000$30,000 Same Month$41,904$32,592$23,280 1month$12,000$10,800$8,400 Total PaymenttoSupplier$53,904$43,392$31,680Cash Expenses: Advertising$1,000$1,000$1,000 Salaries/Wages$8,000$8,640$8,640 Rent$3,500$3,500$3,500 Interest on Mortgage$500$500$500 General expenses$2,000$2,000$2,000 Drawings$8,000$8,000$8,000 PAYGTaxPayment$5,000 Total Cashexpenses$28,000$23,640$23,640 Total CashPayment$81,904$67,032$55,320 CashPaymentBudget CashBudget JanFebMarTotal OpeningCash Balance$4,296$12,432$19,920$4,296 Add: Receipts$90,040$74,520$55,400$219,960 Cash Available$94,336$86,952$75,320$224,256 Less: Payments$81,904$67,032$55,320$204,256 EndingCashBalance$12,432$19,920$20,000$20,000
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