Acc 401

ACC 401 Week 7 HW

Chapter 11: Exercise 11-3 and 11-4A; Problems 11-4 and 11-5

Chapter 12: Exercises 12-2 and 12-12; Problems 12-4 and 12-8

Chapter 11:

Exercise

11-3

There is no section called “media center” as the question states. But here is what seems to be the closest.

UPCOMING EVENT - 2013 IFAC Small and Medium Practices Forum

At the annual IFAC SMP Forum, delegates will convene to learn, debate, and collaborate on a global stage regarding the unique opportunities and challenges facing SMPs and their SME clients. Last year’s event attracted over 200 delegates from 40 professional accountancy organizations in 36 countries. Each IFAC member may send up to ten delegates who should be those responsible for SMP/SME affairs at their organization. Representatives from government agencies, donor organizations, standard setters, and other organizations that represent SMEs should also attend.

11-4A

On the balance sheet assets are usually listed according to liquidity. Cash being the most liquid comes first then other short term securities and the like.

Problems

11-4

Operating assets and liabilities | 2010 | 2011 |

Short-term | | | |

| Accounts receivable | 97200 | 90600 |

| Allowance for doubtful accounts | (14400) | (12600) |

| Inventory | 518400 | 562800 |

| Prepaid insurance | 24600 | 21600 |

| Short-term assets | 625800 | 662400 |

| Accounts payable | (195600) | (178800) |

| Accrued interest payable | (11400) | (16800) |

| short-term liabilities | (207000) | (195600) |

Long-term | | | |

| Plant and equipment | 735600 | 780000 |

| Accumulated depreciation | (120000) | (126000) |

| Net long-term assets | 615600 | 654000 |

| | | |

| Net operating assets | 1034400 | 1120800 |

| | | |

Investing assets | | | |

Short-term | | | |

| Investment – trading | 16800 | 20400 |

Long-term | | | |

| Investments –equity | 16800 | 18000 |

| Net investing assets | 33600 | 38400 |...