Chapter 1, Problem 1.1BYP

(a)

To determine

Assets can be defined as the resources which are controlled and owned by the organization and which are capable of providing some future benefits for operating the core business of the organization. Examples of assets are Furniture, Machinery, Car, Cash and many others.

Liabilities are referred as company’s financial obligation arising during the course of a Business Cycle, which will be settled by the outflow of Resources.

To Determine: The total assets of Company A as on September 28, 2013, and September 29, 2012.

(b)

To determine

The cash and cash equivalents of Company A as on September 28, 2013.

(c)

To determine

The accounts payable of Company A as on September 28, 2013, and September 29, 2012.

(d)

To determine

The net sales of Company A for the year 2011, 2012 and 2013.

(e)

To determine

The change in net income of Company A for the year 2013.