ACC 421 Week 5 Problem Presentation

Apr 19th, 2015
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ACC 421 Week 5 Problem Presentation

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Team NamesDateFinancial StatementsCA24-2Item 1The net income for December 31, 2007:$420,000Beginning Retained EarningsAdd: Net Income$570,000Minus: Cash Dividends320,000 250,000Ending Retained Earnings$670,000Presidents Letter toStockholders Item 2 Cash Dividends paid to stockholders. Annual report dividend policy. Financial Statements provided.Financial Statements andDisclosures Financial statement disclosures provide internal andexternal business stakeholders with additional informationregarding a companys financial operations. Smallbusinesses do not usually have significant disclosures fortheir financial statements. Larger business organizationsoften use disclosures to provide additional information tolenders and investors. Disclosures can be required bygenerally accepted accounting principles or voluntary permanagement decisions.Financial Statements Item 3 Competitor has produced a line similar to primary line. The competitors line will be priced at 50% less than ourorganizations primary lineDisclosure They should disclose that it plans on reducing the price ofthe primary line to meet the competitors price. Theyshould also, disclose that the lower price will cover sellingand manufacturing expenses and only a portion of thefixed costs. This information is important for creditors andinvestors to know.Financial statement Item 4 The companys new manufacturing plant

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