Note 2 of its financial statements Harnischfeger Corporation computed depreciation expenses on plants‚ machinery and equipment using the straight-line method for financial reporting purposes. 2. What is the effect of the depreciation accounting method change on the reported income in 1984? How will this change affect profits in future years? The effect of this change was applied retroactively to all assets that were subjected to accelerated depreciation. It increased net income by $11
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Gross margin is calculated by subtracting cost of goods sold from total sales divided by sales. The result‚ a percentage‚ is the amount a company is able to retain after incurring direct costs of production. Coffee retailer‚ Starbucks‚ has seen a steady rise in its gross margin over the last five fiscal years‚ from 56.29% in 2012 to 60.07% at the end of fiscal year 2016; rising roughly 1% each year‚ as seen in the chart below: Date Revenue (In millions) (Cost of Goods Sold) Result September 30‚
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2.0 FINANCIAL RATIOS 2 Liquidity Ratios Liquidity ratios measure a business ’ capacity to pay its debts as they come due. It also measures the cooperative’s ability to meet short-term obligations. Liquidity refers to the solvency of the firm’s overall financial position – the ease with which it can pay its bills. Because a common precursor to financial distress and bankruptcy is low or declining liquidity‚ these ratios can provide early signs of cash flow problems and impending
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Chapter 8: Reporting and interpreting cost of sales and inventory 8.1 Estimate the amount of inventories that your company purchased and produced during the current year. (Hint: use the cost of sales equation.) For the amount of inventories that Loblaw purchased and produced during the current year‚ we need to find the purchases of the period by using the equation of the cost of sales (BI + P – EI = COS). In the report‚ we can find the cost of sales (24 185 million) that we add to the ending
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pages and 2 blank pages. SP (SLC/JG) S23703/1 © CIE 2002 [Turn over 2 1 What is the accounting equation for capital employed? A B C D current assets – current liabilities fixed assets + current assets – current liabilities fixed assets + current assets + current liabilities net assets – current liabilities 2 When preparing a sole trader’s annual accounts‚ no adjustments were made for closing amounts prepaid. What is the effect of these omissions? A B C D net profit overstated net profit
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Acct 555 HW Week 6 Chapter 14‚ pages 468–469: Problems 14-21‚ 14-22‚ 14-23‚ and 14-24 a. The accounting system will not post a sales transaction to the sales journal without a valid bill of lading number. This control is most relevant to which transaction-related objective for sales? (1) Accuracy (2) Occurrence (3) Completeness (4) Posting and summarization 467468 b. The accounting system automatically obtains the unit price based on scans of bar codes for merchandise sold. This control is most
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the questions and compiling youtr answers into a words-processing document. Be certain to indicate the proper question number before each answer. Remember to show your work if an answer requires a mathematical solution. It’s 25 questions. 1. On november 1‚ 2009 Broom company received a bank statement that showed a $2‚950 balance. Broom showed a $4‚010 checking account balance. The bank did not return the check No. 124 for $1‚080 and check No 138 for $720. A $3‚200 deposit made on October 30 was
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know his his position‚ would be advised that‚ assuming he owed a duty of care to the deceased which he had negligently broken‚ and that death resulted‚ he would be liable to conviction for manslaughter if‚ on the available evidence‚ the jury was satisfied that his negligence was gross." Per Judge LJ R. v. Misra and Srivastava [2004] EWCA Crim 2375 para 64 (in the Court of Appeal Criminal Division) In light of the above comments‚ consider the elements of the offence of Gross Negligence Manslaughter
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RATIO ANALYSIS Ratios | 2007 | 2008 | 2009 | Current Ratio | 0.98 | 0.79 | 0.91 | Quick Ratio | 0.66 | 0.41 | 0.46 | Working Capital | (43318926) | (480192556) | (199882615) | ------------------------------------------------- 2007 Current Ratio (C.R):- It shows the relationship between size of current assets and size of current liabilities. Current Ratio=Current Assets (C.A)/Current Liabilities (C.L) The standard of current ratio is (2/1) means
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to reconcile the fact that an all-powerful‚ all loving God could allow these things to happen? Be sure to provide an account for both human generated evils and natural evils. Given Hume’s account of ideas‚ how would he likely respond to Augustine’s account? Who do you think provides the more compelling response? Augustine is a well-known philosopher who is known for describing what a “free will” is and that it is something that every single one of us has. A free will is the ability for all of us
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