Information in the Financial Statements A financial statement is a summary of all the financial transactions that have oocuirred over a particular period. Financial statements indicate a frm's financial health and stability, and are key factors in management decision making. Thaf's why stockholders, bondholders, banks, labor unions, employees, and the Internal Revenue Service are all interested in a firm's financial statements. The major three financial statements contain data that is often confusing to many students, yet when the data is placed in its oorrect location, the financial statements bring forth a wealth of information. Please analyze and place each item in the appropriate financial statement to which it belongs a. Balance Sheet b. Income Statement c. Statement of Cash Flow1. Owner's equity 2. Land 3. Patents 4. Costs of Goods Sold 5. Income tax 6. Insurance expense 7. Net change in cash 8. Cash Balance 9. Accounts Receivable10. Revenues11. Long-term liabilities12. Advertising expense

Which of the following is not a potential problem with beta and its estimation? sometimes, during a period when the company is undergoing a change such as toward more leverage or riskier assets, the calculated beta will be drastically different than the "true" or "expected future" beta. the beta of "the market," can change over time, sometimes drastically.

Materials purchases (on credit). direct materials used in production. direct labor paid and assigned to work in process inventory. indirect labor paid and assigned to factory overhead. overhead costs applied to work in process inventory. actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) transfer of jobs 306 and 307 to finished goods inventory. cost of goods sold for job 306. revenue from the sale of job 306. assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions.

Miko willingly admits that she is not an accountant by training. she is concerned that her balance sheet might not be correct. she has provided you with the following additional information. 1. the boat actually belongs to miko, not to skysong, inc.. however, because she thinks she might take customers out on the boat occasionally, she decided to list it as an asset of the company. to be consistent, she also listed as a liability of the corporation her personal loan that she took out at the bank to buy the boat. 2. the inventory was originally purchased for $27,500, but due to a surge in demand miko now thinks she could sell it for $39,600. she thought it would be best to record it at $39,600. 3. included in the accounts receivable balance is $11,000 that miko loaned to her brother 5 years ago. miko included this in the receivables of skysong, inc. so she wouldn’t forget that her brother owes her money. (b) provide a corrected balance sheet for skysong, inc.. (hint: to get the balance sheet to balance, adjust stockholders’ equity.) (list assets in order of liquidity.)