1. The foreign key would be the cash receipt because the sale would be the primary key and
the cash receipt would be the foreign key in the sale class.
2. This business would be a standard business in that it
A. MAJOR PROBLEM STATEMENT
What is the best way for Angelite Foods Corporation to finance their additional capital requirement?
Time Frame When the Decision Must be Made
By the early next month (February 1992) because it is d
Internal Control and Cash
1. Public companies must issue an internal control report, and the outside auditor must evaluate the clients internal controls. 2. The Public Accountancy Oversight Board oversees the audit
Accrual Accounting and Income
(10 min.) Sales revenue. Cost of goods sold All other expenses Net income. Beginning cash. Collections ($700 $30). Payments for: inventory. everything else. Ending cash
Millions $ 700 (300) (35
(5 min.) Staass payment was not an expense. Staas acquired an asset, Equipment, because the computer is an economic resource of the business.
(5 min.) a. $12,000 ($10,000 + $2,000 + $5,000 $5,000) b. $
The Financial Statements
(5 min.) Computed amounts in boxes Total Assets a. b. c. $300,000 290,000 220,000 = Total Liabilities + Stockholders Equity = = = $150,000 90,000 100,000 + + + $150,000 200,000 120,000
Time Value of Money:
Future Value and Present Value
Req. a (accumulating a fund to purchase land)
Future Value of $1
at 9% for 5 years
For 6 years