Annual Report

Annual Report: An annual report is a comprehensive report on a company’s activities throughout the preceding year. Annual reports are intended to give shareholders and other interested people information about the company’s activities and financial performance. The annual report is a financial document published by most private and public companies to summarize the major transactions […]

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Accounting Equation

Accounting Equation,Financial Accounting I,BBA first semester,BBA-BI second semester Accounting Equation: The accounting equation displays that all assets are either financed by borrowing money or paying with the money of the company’s shareholders. Thus, the accounting equation is: Assets = Liabilities +Shareholder Equity. The balance sheet is a complex display of this equation, showing that the […]

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Worksheet

Worksheet:  An accounting worksheet is a spreadsheet used to prepare accounting information and reports. Accounting worksheets are most often used in the accounting cycle process to draft an unadjusted trial balance, adjusting journal entries, adjusted trial balance, and financial statements. Worksheets are prepared at the end of an accounting period and usually include a list […]

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Bank Reconciliation Statement

Bank Reconciliation Statement questions,Financial Accounting I Question 1: a)The balance on the March 31,2010 ,bank statement is rs. 6506.10. b)Not included on the bank statement is a rs.423 deposit made by Karen’s late on March 31. c)A comparison between the cancelled checks listed on the bank statement and the company records indicated that the following […]

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Bank Reconciliation Statement

Bank Reconciliation Statement,Financial Accounting I Bank reconciliation statement: Questions: 1) The balance on the May 31,2010 ,bank statement is Rs. 8432.11. 2)Not included on the bank statement is Rs. 1250 deposit made by Calico Corners late on May 31. 3)A comparison between the canceled checks returned with bank statement and the company records indicated that […]

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Multi- step Income Statement

Multi- step Income statement ,statement of retained earning and classified balence sheet ,Financial Accounting I  a)Prepare Multi- step Income statement ,statement of retained earning and classified balence sheet Question: S.no. Particulars Debit Credit 1 Equipment 112500   2 Acc. Depn equipmnt   22500 3 Buildings 200000   4 Acc. Depn buildings   40000 5 Land […]

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Cash flow Statement |Financial Accounting I |BBA/BBA-BI

Cash flow statement   Particulars Amount Amount       A)Cash from Operating Activities     1)Cash from sales and receivables     Sales 89000   Increase in A/R (3600) 85400       2)Cash paid to suppliers     Cost of goods sold (57000)   Increase in inventory (4900)   Increase in accounts payable […]

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