What industry are the companies in? Nike; one of the most well known companies across the globe today is most known for being the world’s #1 shoemaker. They design and sell shoes for a variety of sports including baseball‚ golf‚ tennis and football. Nike also sells dress and casual shoes as well as athletic apparel and equipment for almost every sport imaginable. In addition Nike also operates NIKETOWN shoe and sportswear stores‚ factory outlets along with Nike women shops. One of Nike’s biggest
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Chapter 2 Review of the Accounting Process AACSB assurance of learning standards in accounting and business education require documentation of outcomes assessment. Although schools‚ departments‚ and faculty may approach assessment and its documentation differently‚ one approach is to provide specific questions on exams that become the basis for assessment. To aid faculty in this endeavor‚ we have labeled each question‚ exercise and problem in Intermediate Accounting‚ 7e with the following
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charge as discount charges from the amount of the bill and balance is credited to customer account. Bill of exchange financing is the most liquid one from the banker’s point of view since‚ in time of emergencies‚ they can take those bills those bills to RBI for rediscounting. Even if the bill is dishonored‚ there is a simple remedy. The bank has to simply note and protest the bill and debit the customers account. Bills are always drawn with recourse. Despite many efforts of RBI to promote and develop
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systems. This paper is targets the main features of manual and computerized accounting‚ their benefits and shortcomings‚ and their comparison. From the accounting theory it is known that accounting cycle includes the following steps: journalizing the transactions‚ posting them to ledger accounts‚ preparing trial balance‚ making adjustment entries‚ preparing adjusted to end-of-period trial balance‚ preparing financial statements and appropriate disclosures‚ journalizing and posting the closing
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Solutions to the long-term contracts in-class questions Practice Question #2 Percentage of completion method a. 2013 2014 2015 2016 Construction costs Incurred to date $ 300‚000 $ 1‚400‚000 $2‚263‚000 $3‚100‚000 Estimated costs to complete 2‚200‚000 1‚400‚000 837‚000 — Total estimated costs $2‚500‚000 $ 2‚800‚000 $3‚100‚000 $3‚100‚000 Percent (%) completed 12% 50% 73% 100% Revenue to date $ 360‚000 $ 1‚500‚000 $ 2‚190‚000 $3‚000‚000 Revenue recognized
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Business Analysis Last four digits of student ID #: 8964 Name of business: Haefren Baum Nature of business: Haefren Baum is an independent home furnishings retailer that sells high-end furniture. The company began as a partnership in 1965. Haefren Baum became a retailer for Wiegandt in 1968. Two years later‚ it officially became a corporate entity. Haefren Baum is located in Cologne‚ one of the most populated and prosperous cities in Germany. The company retails home furnishing
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Acc101 – Quiz on Receivables Show your supporting computations in good form. Encircle your final answer. Problem 1 For the year ended December 31‚ 2009‚ Colt Co. estimated its allowance for uncollectible accounts using the year-end aging of accounts receivable. The following data are available: Allowance for uncollectible accounts‚ 1/1/09 P51‚000 Provision for uncollectible accounts during 2009 (2% on credit sales of P2‚000‚000) 40‚000 Uncollectible accounts written off‚ 11/30/09
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reviewed certain transactions that affected accounts receivable and the allowance for doubtful accounts. The controller first examined the December 31‚ 2005‚ balance sheet (Exhibit 1). A subsequent review of the year’s transactions applicable to accounts receivable revealed the items listed below: 1. Sales on account during 2006 amounted to $9‚965‚575. 2. Payment received on accounts receivable during 2006 totaled $9‚685‚420. 3. During the year‚ accounts receivable totaling $26‚854 were deemed uncollectible
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This paper will focus on those areas of cash and cash equivalents‚ accounts receivable‚ and inventories. A list of components that make up the cash and cash equivalents section will be identified. The first part of the paper will introduce the Kellogg Company and provide some history of the company. The main focal point is the analysis of the annual disclosure notes as it relates to cash and cash equivalents‚ accounts receivable‚ and the company’s inventories. Kellogg’s stemmed out from the invention
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success also derived from strategy of Oleg Pinchuk‚ a former major Ukrainian beer producer. He aggressively had policy on giving credits to distributors. On a small budget‚ he had organized five distributorships‚ taken the company to 211 customer account (from 0)‚ and set up warehousing arrangement. These policies were a key of achievement. Oleg Pinchuk’s strategies focused on getting people into distribution pipeline to serve customer needs whenever they want it. Although there was nonexistent for
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