Homework Week 2 Exercise E1-1 SEC – K Audit – G Sole Proprietorship – I Corporation – E Accounting – A Accounting Entity – D Audit Report – J Cost Principle – F Partnership – C FASB – L IASB – H Unit of Measure – B GAAP – N IFRS – M E1-2 Accounts receivable – Asset Cash and cash equivalents – Asset Net sales – Revenue Notes payable – Liability Taxes payable – Liability Retained earnings – Stockholders’ Equity Cost of products sold – Expense Marketing‚ administrative
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2018 Toyota Tundra is a pickup truck manufactured in the United States specifically‚ Toyota’s San Antonio‚ Texas‚ factory 3. How does the aesthetic design reflect the technology of the vehicle? These types of Pickup trucks are generally used by people who have a labor intensive job. So‚ it is important for them that the vehicle can handle the demands of their job and also their own personal demands after work. After a long day on the job‚ we would need a full-size truck with a spacious‚ premium interior
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Revenue Cycle and Control Activities The revenue cycle for many companies is considered the primary source to earn revenue from the sale of goods or service. Good controls must be established to maintain the effectiveness of receivables and credit sales‚ not doing so can harm the company and might be costly to the business. Six classes of internal controls guides us in evaluating and designing transaction processing. They are authorization‚ supervision‚ segregation of duties‚ access control‚ independent
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Essay on Road Accidents !! Lack of road-sense has further complicated the matters. Driving licenses are given on illegal gratifications to the authorities and traffic rules and regulations are thrown to the winds. Overloading is one of the major factors of road- accidents and deaths. The condition of the vehicles is hardly found road-worthy. The unmanned railway level-crossings further add to the chaos and confusion. The multiplicity of authorities and utter lack of coordination among them is another
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and increase operating income. Although Harnischfeger’s cost of sales (COS) has increased from 1983 to 1984‚ the company appears to have reduced COS in comparison to sales from 81% to 79%. In addition‚ it has increased its Operating Income from $62 million in 1983 to $90 million in 1984. • The desired outcomes from reorientation of the company’s business were to reduce risk of increasing prices‚ decrease costs and increase sales. These desired outcomes have appeared to be achieved. By entering
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Strengths: Revenue Growth: In 2008‚ FedEx reported revenue of $38 billion; in 2012 the company reported revenue of $42.7 billion‚ representing a year over year annual growth rate of 2.96%‚ and while this may not seem like an explosive number‚ the caliber of growth is solid and expected to accelerate into the future‚ with 2015 revenues reaching nearly $49 billion. Established Distribution System: The company possesses a massive fleet of airplanes‚ trucks‚ locations‚ and employees‚ and is distinctly
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Voice Recognition Technologies The 20th century has been a technological marvel. We have advanced more in the 20th century than we have during any other one-hundred year term in recorded history. This is due to a number of reasons. One of which is the early conflicts of the century. World War I and World War II changed the world forever. During these global conflicts‚ countries developed advanced weapons. They also developed advanced communications and other technologies. The Internet came as
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of car accidents. Cuts caused by flying glass are fairly common‚ as are broken limbs and head injuries. In fact‚ such are the nature of road accidents that almost.While drivers are required to know the rules of the roadway‚ wild animals do not take driver’s education. Wild animals will wade out into the street‚ and it’s up to you to make sure that you don’t get into a car accident with them. Take caution when you see an animal crossing sign and use your high beams when traveling in rural‚ woody areas
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CHAPTER 7 Revenue and Collection Cycle LEARNING OBJECTIVES Review Checkpoints Exercises‚ Problems‚ and Simulations 1. Discuss inherent risks related to the revenue and collection cycle with a focus on improper revenue recognition. 1‚ 2‚ 3 59 2. Describe the revenue and collection cycle‚ including typical source documents and controls. 4‚ 5‚ 6‚ 7‚ 8 54‚ 55‚ 61‚ 63‚ 64‚ 66 3. Give examples of tests of controls over customer credit approval‚ delivery‚ and
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growth in total net sales. a. 2005-2004/2004= 11‚933-11‚062/11‚062= 871/11‚062= 0.0787 = 7.9% growth b. 2006-2005/2005= 9‚181-11‚933/11‚933= -2752/11‚933= -0.2306 = -23% no growth c. 2007-2006/2006= 6‚141-9‚181/9‚181 -3‚040/9‚181= 0.3311 = -33.1% no growth d. 2008-2007/2007= 8‚334-6‚141/6‚141= 2‚193/6‚141= 0.3571 = 35.71% growth Based only on your answers to question #1‚ do you think the company achieved its sales goal of +10% annual revenue growth in 2009? Determine
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