income and reported cash flow up, asset values inflated, and liabilities off the books.
The combination of these issues later led to the bankruptcy of the company, and the majority of them were perpetuated by the indirect knowledge or direct actions of Lay, Jeffrey Skilling, Andrew Fastow, and other executives. Lay served as the chairman of the company in its last few years, and approved of the
income is almost twice as much as that in 2009.
2. Balance sheet
Currency in USD. All numbers in thousands
Period Ending Sep 25, 2010 Sep 26, 2009 Sep 27, 2008
Assets
Current Assets
Cash And Cash Equivalents 11,261,000 5,263,000 11,875,000
Short Term Investments 14,359,000 18,201,000 12,615,000
Net Receivables
I. Introduction
1. Purpose of the Project
The purpose of this our group was to analyze two similar hospitality companies by using tools learned in accounting class. Based on annual reports of two companies, our group members learned how the terms learned in class is actually used in the report. We hope to understand how certain variation affects accounting items and identify why certain does
Income Statement Analysis. For Balance Sheet Analysis we choose ‘Flight equipment’, ‘Air traffic liability’, and ‘Accumulated deficit’. Lastly, we went further on ‘Current Ratio’, ‘ROA’, and ‘Debt to asset’ among 5 Ratio analysis and recommended for these two companies.
<Income Statement>
1. Wage Expense
2. Passenger Revenue
3. Fuel Expense
1. Fligh
on Xerox’s assets? Net income?
When Xerox posted the journal entry for “exposed receivables” after they have admitted it, it would have meant a decrease in the book value of account receivables. Because a portion of account receivables have turned uncollectible, the contra-account, the allowances for bad debts, should be debited as the account receivables are credited. The total asset val