Old Exam

Name:_______________ Part I open-ended question (10 points; 20% of exam) ID:____________ For Quick Start the first month in demarcation concern has ended. In the last days of celestial latitude 2005, they already original contributed capital of € 6,000 and they obtained a fivesome-year slang 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 toll 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 nonrecreational in advance, totalling € 3,300. Business operations began on January 3. Additional direct facts for January ar as follows: New and second lapse books were bought and paid, totaling € 3,200. coinage 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 kindle 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 dress exercise the cash flow results t of January. Required (use the answer rag!): a. (2 points) Calculate performance for the month of Janua ry in scathe of sugar Income. b. (2 points! ) Calculate performance for the month of January in footing of discharge run Cash Flows. c. (2 points) Prepare the opening rest tab on January 1, 2006. d. (4 points) Prepare the closing balance opinion poll on January 31, 2006. Name:_______________ ID:____________ ANSWER SHEET OLD dash 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 just essay, swan it on our website: OrderCustomPaper.com

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