What were the accounts receivable (net) for Coca-Cola and PepsiCo at the end of 2011? Which Company reports the greater allowances for doubtful accounts (amount and percentage of gross receivable) at the end of 2011? 1. The accounts receivable (net) for Coca-Cola as of Dec. 31‚ 2011 are unknown. Coca-Cola did not provide either a Balance Sheet or the balance on this account on their 2011 annual report. 2. The accounts receivable (net) for PepsiCo‚ including notes receivable‚ as of Dec. 31
Premium Balance sheet Accounts receivable Coca-Cola
Somehow two warehouse staff spends their lunch break playing computer game on the store computer. The only other member of staff trained to operate the accounts receivable ledger is Hazel Richmond‚ the chief accountant. During May and June when she is chasing up debtors for payments she tends to fall behind in finishing her accounts receivable work which lead to transaction not being collected‚ recorded and communicated properly. With the qualification or experience the
Premium Accounts receivable General ledger
are categorised as follows : assertions about classes of transactions and events for period under audit e.g. sales‚ interest received assertions about account balances at year-end e.g. accounts receivable‚ property‚ plant and equipment assertions about presentation and disclosure e.g. notes that support Statement of Financial Position account headings‚ contingent liabilities Assertions for Statement of Financial Position transactions and balances : Assertion
Premium Accounts receivable
AC 210 – Spring 2012 Exam 2 Version A Name: CWID: Score: /100 1. McKinney‚ Inc has a debt-to-assets ratio of 0.45. This means that: A. stockholders’ equity is 55% of total assets. B. stockholders’ equity is 45% of total assets. C. the asset turnover ratio also is 0.55. D. the asset turnover ratio also is 0.45. 2. A company files a Form 10-K with the SEC to submit its: A. quarterly report. B. annual report. C. press releases. D. report
Premium Revenue Balance sheet Inventory
Strategic Capital Management‚ Llc (a) Executive Summary: The objective of this report is to evaluate investment opportunities for Strategic Capital Management‚ LLC regarding stocks of Creative Computer and/or its subsidiary firm Ubid. The analysis deduces arbitrage to be the best investment strategy. Strategic Capital Management (SCM)‚ LLC: SCM is a recent entrepreneur venture founded by Elena King and two of her fellow classmates. The company has currently generated 20 million dollars and aims
Premium Stock market Stock Dot-com bubble
insight into the internal controls and risks that Kudler Fine Foods should be aware of. Internal Controls and Risks Payroll The payroll chart clearly defines the process and procedures that will allow for the proper internal controls and risk management. The duties are properly assigned to establish separation of duties‚ which is a good way of deterring fraud and preventative controls are established to avoid costly human errors. Segregation of duties is established by having four different individuals
Premium Accounts receivable Accounting software Risk
“Suggested Solutions to Exercise” in Financial Accounting for Management by Ramachandran & Kakani Authored by Ram Kumar Kakani‚ “Copyright with Tata McGraw Hill Education Private Limited‚ 2011” CHAPTER 2 Balance Sheet Note: Answers to only half the questions have been provided. It gives you an opportunity to work on the rest problems and discuss about the relevant solutions. You are requested to complete this chapter before attempting the questions. MULTIPLE CHOICE QUESTIONS 1. 2. 3. 4. 5. 6. 7
Premium Balance sheet Liability Generally Accepted Accounting Principles
prospective audit client of Barnes and Fischer‚ LLP. I believe that Barnes and Fischer should accept the client because of Barnes and Fisher’s opportunities in consulting and information technology (IT) development‚ Ocean Manufacturing‚ Inc.’s sound management/business model and past successful audits‚ and primarily‚ the growth potential of Ocean Manufacturing‚ Inc. following its planned IPO. Ocean Manufacturing has a favorable market position in the Home Appliance Industry. This is a market that
Premium Initial public offering Public company Audit
increase a company ’s market value? (Points : 5) 2. (TCO F) Which of the following statements is correct? (Points : 5) 3. (TCO D) Church Inc. is presently enjoying relatively high growth because of a surge in the demand for its new product. Management expects earnings and dividends to grow at a rate of 25% for the next 4 years‚ after which competition will probably reduce the growth rate in earnings and dividends to zero‚ i.e.‚ g = 0. The company ’s last dividend‚ D0‚ was $1.25‚ its beta is 1
Premium Stock Accounts receivable Weighted average cost of capital
Simpson Company ACL Assignments Chapter 7 Question 4. Determine whether the record counts in the three tables are consistent with the information you received from the IT department. Simpson master file of accounts receivable has 64 records which is consistent with IT. Simpson shipping documents for cut-off tests has 47 records which is not consistent with IT records that totals 45. Question 5. Determine if the amounts for each of the four transaction types are consistent with the information
Premium Accounts receivable