3.18 Accounting 211 - Accounting 211 Thursday March 18th...

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Accounting 211 Thursday, March 18th, 1999 Announcements: none Lecture notes: Example: 1/1/98 12/31/98 Buildings 75,000 95,000 AD 38,000 49,000 Loss from sale of buildings = $4,000 The book value of the buildings sold during 1998 was $30,000 (AD = $10,000) Proceeds = $26,000
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ACCUMULATED DEPRECIATION 10,000 AD, old asset 38,000 Beg Bal X 49,000 End Bal X = Depreciation Expense = $21,000
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BUILDINGS Beg Bal 75,000 X 40,000 cost of assets sold End Bal 95,000 X = Buildings = $60,000 Example:
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1/1/98 12/31/98 AR 40,000 53,000 Inventory 75,000 60,000 AP 30,000 21,000 1998 Net Sales = $115,000 1998 COGS = $65,000 Cash Collected from Customers
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Net Sales 115,000 - change in AR - 13,000 102,000 Cash Payments to Suppliers
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COGS 65,000 - change in Inv - 15,000 + change in AP + 9,000 59,000 Chapter 28 Current Ratio Current Assets / Current Liabilities Inventory Turnover COGS / Average Inventory Gross Margin
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Gross Margin / Net Sales Profit Margin Net Income / Net Sales Return on Assets Net Income / Average Total Assets Return on Equity Net Income / Average SE Debt to Equity Total Liabilities / SE Earnings per Share (Net Income - Preferred Dividends) / Average # of shares of common stock Price Earnings Market Price per Share / Earnings per Share
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