DiscussionSection1_20090529 - May 29, 2009 GSI Email Aydin...

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May 29, 2009
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GSI Aydin Uysal   Email aydin_uysal@haas.berkeley.edu   Office Hours and Location Tuesdays,  10:30am – 11:00am,  Cheit 125 Fridays,  10:30am – 12:00pm,  Cheit 125 Or by appointment.
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Schedule and Location   Tuesdays  8:00 - 10:30am, Cheit 125 Fridays  8:00 - 10:30am, Cheit 125   Dates and Outline   Friday, May 29, 2009 : P1-2, P1-4, P1-5, C1-7, C1-8 Tuesday,  June 2, 2009   : P2-2, P 2-4, C2-6, C2-7 Friday,  June 5, 2009   : P3-2, P3-4, C3-6, C3-7, P4-1, P4-2, P4-3, C4-6, C4-7 Tuesday, June 9, 2009   : P5-2, P5-4, C5-7, P6-2, P6-3, C6-8 Friday,  June 12, 2009 : P7-1, P7-2, P7-3, C7-7, P8-2, P8-3, C8-8 Tuesday,  June 16, 2009 : *No Discussion Section* Friday,  June 19, 2009 : P9-2, P9-4, P9-5, C9-7, C9-8 Tuesday,  June 23, 2009 : P10-3, P10-4, P10-5, C10-8 Friday,  June 26, 2009 : P11-2, P11-4, P11-5, C11-8, E15-3, E15-4, E15-6, P15-3 Tuesday,  June 30, 2009 : P13-2, P13-3, C13-5, C13-6
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Attendance   Please sign up the attendance sheet at the beginning of the section 5 points per section Homework   Please turn in your homework at the beginning of the section Please have 2 copies of your homework Please pick your homework up the following section that you submitted it 2 points per problem/case
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* This figure is from Financial Statement Analysis and Security Valuation by Stephen H. Penman
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Please turn in your homework before we  start working on the solutions
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Problem: P1-2.2 Solution: P1-2.2 Why is it necessary to prepare the income statement prior to the balance sheet? It is necessary to prepare an income statement before a balance sheet because net income is  derived from the income statement.  Net income is required to calculate the ending balance of  retained earnings which is part of the balance sheet. 
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Problem / Solution: P1-2.1 Complete each set of financial statements by determining the amounts that correspond to the letters.
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Problem:  P1-4.1 Solution :  P1-4.1 Prepare the income statement, statement of  retained earnings, and balance sheet for  Unique Ad, Inc. Accounts Receivable 24900 Accounts Payable 19400 Cash 1800 Common Stock 5000 Dividends 0 Equipment Rental Expense 37200 ***Income Taxes Expense 560 Income Taxes Payable 560 Marketing Expense 6800 Advertising Service Revenue 165200 Salaries Expense 86000 Salaries Payable 1300 Supplies 1600 Supplies Expense 19100 Office Rent Expense 13500
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Problem: P1-4.2 Solution: P1-4.2 Review the financial statements and comment on the financial challenges Unique, Inc. faces. Unique Ad was profitable during 2010 but faces certain challenges.
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This note was uploaded on 09/20/2009 for the course UGBA 102A taught by Professor Udpa during the Summer '07 term at University of California, Berkeley.

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DiscussionSection1_20090529 - May 29, 2009 GSI Email Aydin...

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