A Company Reported Average Total Assets of $501,000 in Year

question 62

Essay

A company reported average total assets of $501,000 in Year 1 and $611,000 in Year 2.Its net operating cash flow in Year 1 was $41,500 and $55,250 in Year 2.Calculate its cash flow on total assets ratio for both years.Comment on the results.

Identify and utilize financial documentation (invoices, vouchers, remittance advice) for managing liabilities and transactions.

Execute journal entries based on bank reconciliation adjustments to correct company accounts.

Understand the role and processing of credit and debit memos by banks on customer accounts.

Recognize the components and support documents of a voucher system.

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Definitions:

Gluteus Maximus

The largest and strongest muscle in your body, located in the buttocks, responsible for movement of the hip and thigh.

Extends

To stretch out or spread from one point to another.

Rotates

The action of moving or turning around an axis or center point.

Myomalacia

Softening of the muscle tissue.