AccountingforFinMgmt

AccountingforFinMgmt - AccountingforFinancialManagement

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Accounting for Financial Management FINC 3630 Yost Accounting for Financial Management Financial Statements Balance Sheet Income Statement Statement of Cash Flows Statement of Retained Earnings www.sec.gov Financial Statements Keep in mind: Backward vs. Forward Looking Book Values vs. Market Values Accounting Numbers vs. Cash Flows Tax Deductible vs. Taxable Notes to Financial Statements
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Accounting for Financial Management FINC 3630 Yost Balance Sheet DocYost, Inc. December 31 Assets: 2010 2009 Cash 7,282 9,000 S-T invest. 20,000 48,600 AR 632,160 351,200 Inventories 1,287,360 715,200 Total CA 1,946,802 1,124,000 Gross FA 1,202,950 491,000 Less: Depr. 263,160 146,200 Net FA 939,790 344,800 Total assets 2,886,592 1,468,800 Balance Sheet DocYost, Inc. December 31 Liabilities and SE: 2010 2009 Accts. payable 324,000 145,600 Notes payable 720,000 200,000 Accruals 284,960 136,000 Total CL 1,328,960 481,600 Long-term debt 1,000,000 323,432 Common stock 460,000 460,000 Ret. earnings 97,632 203,768 Total equity 557,632 663,768 Total L&E 2,886,592 1,468,800 Income Statement DocYost, Inc. For Year Ended December 31 2010 2009 Sales 5,834,400 3,432,000 COGS 4,980,000 2,864,000 Other expenses 720 000 340 000 720,000 340,000 Deprec. 116,960 18,900 Tot. op. costs 5,816,960 3,222,900 EBIT 17,440 209,100 Int. expense 176,000 62,500 EBT (158,560) 146,600 Taxes (40%) (63,424) 58,640 Net income (95,136) 87,960
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Accounting for Financial Management FINC 3630 Yost Statement of Cash Flows DocYost, Inc.
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AccountingforFinMgmt - AccountingforFinancialManagement

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