rP os t IMB 357 S. RAMESH KUMAR‚ ANDE TEJA AND SYED HUSSAIN EXPLORING CATEGORY BENEFITS FOR BRAND BUILDING: KAYA AND THE BEAUTY CARE MARKET op yo India has been an emerging market that is witnessing radical changes in lifestyles and spending patterns of customers. Customers have been used to branded creams and lotions‚ and several of these offerings are being advertised with strong symbolic appeals associated with enhanced self-concepts. Kaya was also a brand in the beauty care
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standards. Confirmations show existence and valuation of accounts and notes receivable. The positive confirmations are used to ask the customer to respond whether the balance is correct or incorrect. The negative confirmations ask for a response only if something is wrong with the balance. If no response is received‚ it is considered evidence that the account is stated fairly. With the positive confirmations‚ we are trying to find information on account balances or specific invoices. We sent positive confirmations
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000‚000 Deferred Subscription Costs $6‚000‚000 To recognize and record the deferred subscription costs being expensed. The company needs to expense the projected uncollectible debts. Bad debt expense $4‚000‚000 Allowance for uncollectible accounts $4‚000‚000 To create an allowance for uncollectible debt. For the expected warranty expense‚ there is not probability given of how much it will cost. So going on the low side it could only be $2 million and on the high side it could be $6 million
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AP-3: ⇒Audit Program for Accounts Receivable Company Balance Sheet Date | | | The company has the following general ledger accounts that are classified in the accounts‚ notes‚ or other receivables captions of the | |balance sheet:
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CHAPTER 9 ACCOUNTING FOR RECEIVABLES SUMMARY OF QUESTIONS BY STUDY OBJECTIVES AND BLOOM’S TAXONOMY Item SO BT Item SO BT Item SO BT Item SO BT 5 5 5 5 9 9 1 3 K AP K K K K K K 113. 114. 115. 116. 117. 118. 119. 120. 121. 122. 123. 124. 125. 126. 127. 128. 129. 130. 131. 132. 133. 134. 135. 136. 137. 4 4 5 5 5 5 5 5 5 5 5 5 5 5 5 5 6 6 6 6 6 6 7 7 8 K K K AP AP AP AP K K K C
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is account receivable? Credit sales‚ sales on account b. How do accounts receivable differ from notes receivable? Notes Receivable arises when the seller asks for a note to replace an Accounts Receivable when the customer requests additional time to pay a past-due account. A promissory note is a written promise to pay a specific amount of money‚ usually including interest‚ at a future date. c. What is a contra asset? An account which offsets another account. A contra-asset account has
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our understanding of the arrangement for our audit of the financial statements of Apollo Shoes‚ Inc. for the year ending December 31‚ 2011. We will audit the Company’s balance sheet at December 31‚ 2033‚ and the related statements of income‚ comprehensive income‚ stockholders’ equity‚ and cash flows for the year then ended‚ for the purpose of expressing an opinion on them. We will also audit whether Apollo Shoes‚ Inc. maintained effective internal control over financial reporting as of December
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note you have three assignments for this week. The case study‚ the weekly assignment and continue working on the final draft for the individual research project. Case Study (Knapp book): Dollar General Stores Questions 1-4 Weekly Assignment: Textbook (Boynton book): Complete and submit the following questions for grading: 14-26 14-28 15-23 15-27 16-24 16-33 14-26 (Analytical procedures) the following data was taken from the production and account ing records for Casuccio Manufacturing‚ Inc. Unaudited
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process of confirming receivables follow: Step-1. Obtain Aged Schedule of Accounts Receivable The auditor should obtain an aged schedule of accounts receivable as of the confirmation date. He or she should apply the following procedures to this schedule: Determine that totals are correct. Compare all or a selected sample of account balances with the account balances in the accounts receivable subsidiary ledger. Investigate credit balances. Step-2. Select Accounts for Confirmation Auditors
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At the time of a credit sale‚ a company would record an increase in assets and an increase in revenues. True False 3. A sale on account is recorded as a debit to revenue and a credit to accounts receivable. True False 4. Accounts receivable represent the amount of cash owed to the company by its customers from the sale of products or services on account. True False 5. Trade discounts represent a discount offered to the purchasers for quick payment. True False 6. When a company
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