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Comprehension. 1. Are the following statements true or false?

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1. Are the following statements true or false?

 

1. The totals of both halves of the balance sheet are not always the same.

2. British and American balance sheets show the same information, but arranged differently.

3. The assets total is always the same as the liabilities total.

4. Liabilities are things owned by the company.

5. Liabilities include loans, taxes, future pension payments, and bills from suppliers.

6. A balance sheet shows how much money a company has spent or received during a year.

7. Shareholders' equity consists of all the money belonging to shareholders.

8. The balance sheet gives information on how much money the company has received from sales of shares.

Vocabulary

Match the words from column A with the words from column B to make a phrase.

A B
1) to grant   a) liabilities  
2) to pay b) earnings  
3) to owe c) credit  
4) to retain   d) benefits
5) to distribute e) annual balance sheets  
6) to publish f) to shareholders  
7) to bring g) money  
8) to belong h) profits  

Study the balance sheet sample.

Balance Sheet – Sample Corp. FY 2007, 2008

12/31/2008 12/31/2007 12/31/2008 21/31/2007

ASSETS     LIABILITIES and OWNERS’ EQUITY    
Current Assets     Current Liabilities    
Cash $45,000 $40,000 Long-Term Debt – 1 Yr. $12,000 $11,000
Marketable Securities $65,000 $60,000 Notes Payable $15,000 $14,000
Accounts Receivable $85,000 $70,000 Accounts Payable $13,000 $12,000
Notes Receivable $45,000 $40,000 Taxes Payable $11,000 $10,000
Inventories $85,000 $80,000 Accrued Expenses $21,000 $20,000
Total Current Assets $325,000 $290,000 Other Current Liabilities $10,000 $9,000
      Total Current Liabilities $82,000 $76,000
Long-Term Assets     Long-Term Liabilities    
Land $85,000 $80,000 Notes Payable $30,000 $27,000
Buildings $100,000 $90,000 Bonds Payable $60,000 $52,000
Machinery $30,000 $25,000 Total Long-Term Liabilities $90,000 $79,000
Accumulated Depreciation ($4,000) ($3,500) Other Liabilities    
Net tangible Assets $211,000 $191,000 Pension Obligations $30,000 $30,000
      Deferred Taxes $30,000 $30,000
Intangible Assets   Minority Interest $30,000 $30,000
Goodwill $15,000 $5,000 Total Other Liabilities $30,000 $30,000
Patents $20,000 $19,000 Total Liabilities $30,000 $30,000
Trademarks $15,000 $13,400 Owners’ Equity    
Organizational Costs $24,000 $22,900 Preferred Stock $60,000 $50,000
Total Intangibles $74,500 $60,300 Common Equity    
      Common Stock $97,500 $89,000
Other Assets     Capital Surplus $111,000 $99,000
Investments $25,000 $23,000 Retained Earnings $120,000 $105,800
Deferred Charges $50,000 $45,000 Treasury Stock $50,000 $45,000
Total Other assets $75,000 $68,000 Total Common Equity $278,500 $248,800
Total Long-Term Assets $360,500 $319,800 Total Owners’ Equity $338,500 $298,800
Total Assets $685,500 $609,800 Total Current Liabilities and Owners’ Equity $685,500 $609,800

Find the English equivalents.





Текущие активы, оборотный капитал; нематериальные активы; счета к получению; счета к оплате; долгосрочные обязательства; нераспределенная прибыль; собственный капитал; векселя к оплате; отсроченные налоговые платежи; дополнительно привлечённый капитал.

Complete the crossword.

                                                     
                                                     
                                                       
                                                       
                                                       
                                                       
                                                       
                                                       
                                                   
                                                       
                                                       
                                                     
                                                     
                                                       
                                                   
                                                       
                                                   
                                                       
                                                     
                                                       
                                                       
                                                       
                                                       

Across

1. An accounting statement of a firm’s assets and liabilities.

4. The value of a company’s shares; the value of a property after all charges and debts have been paid.

5. Money that is owed.

7. Documents providing that somebody is the owner of shares.

11. Money in the form of coins or notes.

Down

2. Any item of economic value owned by an individual or corporation, especially that which could be converted to cash.

3. Items of value which are not easily changed into cash but which the business needs.

6. Any investments, cheques, bank deposits, stock that can easily be converted into cash.

8. Wealth or property that is owned by a business or a person.

9. The profit that a company makes.

10. An amount of the profits that a company pays to people who owns shares in the company.


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