StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

ACCT SLP 4: Balance Sheet - Essay Example

Cite this document
Summary
Any business is run through utilization of some resources, which are known as assets (Benedicto, 2008). Those assets are financed through equity or a mixture of liabilities and equity. Equity…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER92.8% of users find it useful
ACCT SLP 4: Balance Sheet
Read Text Preview

Extract of sample "ACCT SLP 4: Balance Sheet"

Download file to see previous pages

any provides an overview of the monetary worth of the assets of the business such that its total assets are increased to $1,009,700 as compared to a previous balance sheet in which the total assets worth only $482,200. There are major reasons due to which such a big increase can be observed. The first change is regarding the inventory valuation such that the inventory was undervalued by $42,500 in the previous balance sheet. The company has channelized new funds by issuing offerings of stock to shareholders and raised around $150,000, which increased the cash of the company.

Besides that, the company manages to purchase a piece of land amounting to $400,000, which was partially financed though cash and $350,000 through notes payable to bank in the form of long-term debt. The company also had healthy profits such that it generated around $151,150 in the form of net income, which increased the equity position of the company. Due to sound cash position, the company paid $15,000 dividends to its shareholders; as a result, the retained earnings of the previous year are reduced.

Benedicto, M.S. (2008) Introduction to Financial Accounting. IE Business School. This is a multimedia presentation reviewing the four financial statements. The information is also available in a PDF file.  Click on “accounting equation” tab. Retrieved fromhttp://openmultimedia.ie.edu/openproducts/financial_accounting/financial_accounting/frames.html Edwards, J.D. & R.H. Hermanson (2007) Accounting Principles: A Business Perspective. Volume 1 Financial Accounting. The Global Text Project, Ch. 16. Retrieved from

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“ACCT SLP 4: Balance Sheet Essay Example | Topics and Well Written Essays - 1000 words”, n.d.)
ACCT SLP 4: Balance Sheet Essay Example | Topics and Well Written Essays - 1000 words. Retrieved from https://studentshare.org/finance-accounting/1605394-acct-slp-4-balance-sheet
(ACCT SLP 4: Balance Sheet Essay Example | Topics and Well Written Essays - 1000 Words)
ACCT SLP 4: Balance Sheet Essay Example | Topics and Well Written Essays - 1000 Words. https://studentshare.org/finance-accounting/1605394-acct-slp-4-balance-sheet.
“ACCT SLP 4: Balance Sheet Essay Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.org/finance-accounting/1605394-acct-slp-4-balance-sheet.
  • Cited: 0 times

CHECK THESE SAMPLES OF ACCT SLP 4: Balance Sheet

Statement of Owners Equity

Whatever remain is the balance or the difference after the set off.... This difference is referred to as ledger account balance.... Irrespective of the number of credit or debit ledger accounts available, the balance is calculated by setting off total debits of the company against the total credits.... The differece between the two sums gives the ledger account balance.... The following equations summarizes the interpretation of ledger account balance....
6 Pages (1500 words) Assignment

Financial Statment Analyasys

They are balance sheet, income statement, cash flow state, and statement of shareholders' equity, and form the basis of enterprises' financial reports.... Financial statement analysis Name: Institution: Course: Tutor name: Date: October 8, 2013 Financial statement analysis Financial statements summarize an organization's financial activities in a given period....
4 Pages (1000 words) Case Study

Management Issues and the Accounting Discrepancies in SmartTool Inc

This paper presents an analysis of the Management issues and the accounting discrepancies in SmartTool Inc with respect to Generally Accepted Accounting Principles and the code of ethics for a Financial Controller.... This paper also presents the legal issues.... hellip; The beginning of Eb's association with SmartTools itself was not clean....
8 Pages (2000 words) Essay

Business plan= Open restaurant in Chelsea NY

Berkeley intends to capture on the elegance and abmiance most closely associated with Chelsea, New York.... As part of our ongoing commitment to quality food and service, Mr.... Berkeley has established the following objectives: Our mission:  To… Berkeley Thai Restaurant as the premier eatery in our local area while maintaining our uncompromising principles during our intial growth period....
10 Pages (2500 words) Essay

Lehman Brother Collapse

Once, Lehman Brothers was one of the prestigious names in the financial sector.... In its heyday, it was major dealer in U.... .... treasury securities, U.... .... debt instruments.... It was operating in asset management and… This investment bank provided financial services to governments, municipalities, corporations, high net-worth individuals and institutional clients....
20 Pages (5000 words) Essay

Discussion of the North Rock Company

The reporter states that Northern Rock is considered as one of the largest retail banks in the United Kingdom.... The institution is also known as the largest financial institution in the northeast region.... Among the country's retail banks, Northern Rock is ranked at the 15th number.... hellip; One of the core products or services the bank provides to its clients is concerned with the mortgage lending....
11 Pages (2750 words) Coursework

Business and Accounting Ethics of Enron Company

The accountants need to prepare the financial statements like the balance sheet, profit and loss account based on the data they have collected.... Doing fraud in the financial statements is an intentional activity for making the balance sheet stronger, for showing higher profit of the company in the financial year....
6 Pages (1500 words) Essay

Analysis of Financial Statements of Marks & Spencer

Marks & Spencer (hitherinafter referred as M&S) is one of the UK's largest retail chains with 12.... % of market share in clothing and a 3.... % market segment in food stuffs in the United Kingdom's market in the year 2014.... Started as a small store at Kirkgate Market in Leeds in… 884, its group revenue is reported at £10....
16 Pages (4000 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us