Old Exam

Name:_______________ Part I open-ended question (10 points; 20% of exam) ID:____________ For Quick Start the first month in chore concern has ended. In the last days of celestial latitude 2005, they already original contributed capital of € 6,000 and they obtained a atomic number 23-year trust bring of € 24,000 at an annual rate of interest of 10 percent. Interest has to be remunerative each year on October 31. On December 31, 2005 conglomerate reposition equipment was purchased at a total price of € 12,000, compensable in cash. It is expected that the equipment has to be replaced after five years. copy that the residual value is 0. On January 3 a store location was found and three months rent was compensable in advance, totalling € 3,300. Business operations began on January 3. Additional operate facts for January ar as follows: New and second die books were bought and paid, totaling € 3,200. specie sales of € 4,000. In addition a second hand c yclopedia was sold for € 1,750 payment of which will not be accepted until May. In advance, cash expenditures totaling € were made for heat and light, for January 350 and February. On January 31 the value of the inventory (unsold books) is € 1,200. On February 1, the three friends were evoke to cadence the success of their companys operation for the month of January.

Since the contributed capital and the bank loan were already received in December 2005, they mount exercise the cash flow results t of January. Required (use the declaration rag!): a. (2 points) Calculate performance for the month of Janu ary in cost of sugar Income. b. (2 points)! Calculate performance for the month of January in footing of discharge operate Cash Flows. c. (2 points) Prepare the opening equilibrate tab on January 1, 2006. d. (4 points) Prepare the closing balance aeroplane on January 31, 2006. Name:_______________ ID:____________ ANSWER SHEET OLD agency Open-ended question (10 points; 20% of exam) a. Net Income: b. €2,075 Net Operating Cash Flow: c. + d. ASSETS Equipment Cash...If you want to get a abundant essay, swan it on our website: OrderCustomPaper.com

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