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4 years ago

What is financial accounting with example

Business

1 answer:

miskamm [114]4 years ago

7 0

Answer:

Financial accounting refers to recording and organizing these transactions into categories in order to prepare financial statements. All financial statements must be recorded in accordance with GAAP ( generally accepted accounting principles). Examples of financial statements include : income statement and balance sheet.

example:

sold a motor vehicle for $10000 and received cash

under non-current assets - motor vehicle decreases by 10000

under current assets - cash increases by 10000

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YoYo Fashion December 31, 2013 balance sheet showed total common equity of $5,500,000 and 250,000 shares outstanding. During 201

abruzzese [7]

Answer:

$23.6 per share

Explanation:

Given that,

Total common equity = $5,500,000

Shares outstanding = 250,000

Net income = $525,000

Dividends paid out = $125,000

Total value at the end:

= Total common equity + Net income - Dividends paid out

= $5,500,000 + $525,000 - $125,000

= $5,900,000

Therefore,

Book value per share at 2014 year end:

= Total value at the end ÷ No. of shares outstanding

= $5,900,000 ÷ 250,000

= $23.6 per share

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3 years ago

A cosmetics company is conducting a second-year review of one of its newest products. The marketing department expects that the

-BARSIC- [3]

Answer:

sensitivity analysis

Explanation:

According to my research on different business strategies, I can say that based on the information provided within the question the senior management is undertaking sensitivity analysis. This is a study of what kind of relationship exists between the inputs and outputs of a system and how much uncertainty exists between them. This is what the senior management is undertaking when determining different factors which might lead to different profit projections.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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3 years ago

Aragon and Associates has found from past experience that 25% of its services are for cash. The remaining 75% are on credit. An

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Answer:

schedule of cash receipts

May June July August September

$ $ $ $ $

Credit Fees (75%) 135,000 150,000 142,500 145,500 180,000

Cash Sales (25%) 45,000 40,000 47,500 48,500 60,000

Credit Receipt (10%) 13,500 15,000 14,250 14,550 18,000

Credit Receipt (60%) 0 81,000 90,000 85,500 87,300

Credit Receipt (26%) 0 0 35,100 39,000 37,050

Total Receipts 58,500 136,000 186,850 187,550 202,350

Explanation:

The schedule of cash receipts must include the cash sales and other amounts received for credit sales in the respective months and amounts as outlined by the question.

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3 years ago

Managers will utilize __________ skills with increasing frequency as they rise within an organization.

Nastasia [14]

E. Conceptual and decision

The Internal auditor is the person who reviews the operating and accounting control procedures adopted by management to make sure the controls are adequate.

Internal audit within the company is not only done to review operating and accounting control procedures but to recommend ways that will further operation and accounting control within the company.

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3 years ago

Silver Screen Cinemas Inc. and Digi Now Inc. are two companies that own and run movie theaters in malls and other commercial are

Gennadij [26K]

Answer: Option B is correct.

Explanation:

The option A is incorrect because Silver screen cinemas are competing on prices which shows that it will charge lower prices than the supplier who is offering differentiated products and is in similar line of business.

Option B is correct because though both of these companies are in similar type of industry but their customer segments are different from each other. Digi Now Inc. is offering services to upper class whereas the Silver Screen Cinemas Inc. is offering to people who have lower purchasing power.

Option C is incorrect because Digi Now Inc. is offering services to upper class, which means it will charge higher prices for superior customer services. Silver Screen Cinemas Inc. will charge lower prices for lower level of customer services.

Option D is incorrect because one is competing on quality whereas the other is competing on cost. So it is impossible for the one who is competing on cost to offer everything to everyone.

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4 years ago