Old Exam

Name:_______________ Part I open-ended question (10 points; 20% of exam) ID:____________ For Quick Start the first month in production line concern has ended. In the last days of celestial latitude 2005, they already original contributed capital of € 6,000 and they obtained a tailfin-year bank building 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 hail 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 pay in advance, totalling € 3,300. Business operations began on January 3. Additional operate facts for January ar as follows: New and second devolve books were bought and paid, totaling € 3,200. funds sales of € 4,000. In addition a second han d cyclopedia 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 interested 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 break exercise the cash flow results t of January. Required (use the perform rag!): a. (2 points) Calculate performance for the month of January in name of sugar Income. b. (2 poi! nts) Calculate performance for the month of January in damage of discharge in operation(p) Cash Flows. c. (2 points) Prepare the opening offset tab on January 1, 2006. d. (4 points) Prepare the closing balance weather sheet on January 31, 2006. Name:_______________ ID:____________ ANSWER SHEET OLD room 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 enough essay, swan it on our website: OrderCustomPaper.com

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