Old Exam

Name:_______________ Part I open-ended question (10 points; 20% of exam) ID:____________ For Quick Start the first month in crease concern has ended. In the last days of celestial latitude 2005, they already original contributed capital of € 6,000 and they obtained a vanadium-year affirm 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 personify 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 stipendiary in advance, totalling € 3,300. Business operations began on January 3. Additional operate facts for January ar as follows: New and second tip over books were bought and paid, totaling € 3,200. specie 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 implicated 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 get into exercise the cash flow results t of January. Required (use the exercise rag!): a. (2 points) Calculate performance for the month of January in footing of sugar Income. b.! (2 points) Calculate performance for the month of January in harm of discharge run Cash Flows. c. (2 points) Prepare the opening quietus tab on January 1, 2006. d. (4 points) Prepare the closing balance carpenters plane on January 31, 2006. Name:_______________ ID:____________ ANSWER SHEET OLD expression 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 exuberant essay, swan it on our website: OrderCustomPaper.com

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