MAYNARD COMPANY (A) Balance Sheet: Statement of Financial Position I. STATEMENT OF PROBLEM Diane Maynard’s bookkeeper has quit and a friend was asked to help her address the following issues at her company: 1. Prepare the Balance Sheets as of June 1 and as of June 30. 2. Compare the financial condition of the company in these two periods. 3. Explain why retained earnings did not increase by the amount of June net income. 4. Comment on the value of Maynard Company to its
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Notes to Maynard Case Overall‚ assets increased at the end of the month compared to the beginning by $43‚350. This results in purchasing more assets‚ making sales or by simply making payments or purchasing on credit. 1. Cash: There is an increase of cash as of June 30 by $31‚677. This could be the result of the company making sales for cash or making purchases on credit which would explain the increase in accounts payable. Also‚ payments of insurance were credited from prepaid insurance resulting
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Administration Program School of Business and Management Xavier University - Ateneo de Cagayan Cagayan de Oro City Case No. 3-1 MAYNARD COMPANY (B)* I. VIEWPOINT Friend‚ Diane Maynard II. STATEMENT OF THE PROBLEM 1. How to prepare an Income Statement in a proper form for June and explain the derivation of each item including Cost of Sales? 2. Why is the change in Cash balance greater than the Net Income? 3. Why the following amounts are
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Maynard Company | | | Balance Sheet | | | As of June 1 and June 30‚ 20xx | | | | | | | | | | | ASSETS | 1-Jun | 30-Jun | | movements | Current assets | | | | | | Cash | | | 34‚983.00 | 66‚660.00 | | 31‚677.00 | Accounts receivable | | 21‚798.00 | 26‚505.00 | | 4‚707.00 | Notes receivable | | 11‚700.00 | 0.00 | | (11‚700.00) | Prepaid insurance | | 3‚150.00 | 2‚826.00 | | (324.00) | Supplies | | | 5‚559.00 | 6‚630.00 | | 1‚071.00 |
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Critique Paper: Case 3-1 Maynard Company October 8‚ 2013 Case Overview: Maynard had been surprised that the cash she had increased by $31‚677 yet her net income was only $19‚635. She asked a friend to help her find out what the reason was‚ so consequently she referred to the income statement and said that she could prepare one for Diane. Her friend also came up with the cost of sales figure which was $39‚345 for the month of June. Problem of the Case: Q1: Income Statement Revenue(Cash Sales
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ASSIGNMENT #3 ANSWER 1: ANSWER 2: Cash increased very much‚ because bank notes payables and accounts payable increased very much. And we can may be assume that there are also gains from the company’s activities. Thus‚ accounts receivable slightly increased‚ in parallel with the company’s activities we can also assume that company sales increased. Company is not in trouble with receivables. ANSWER 3: Retained Earnings didn’t increase by the amount of net income for the month because
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Case 2-1 Carson Container Company Case Questions 1. What problems does Carson Container Company have that will affect its communications? Carson’s decentralized approach to procurement was indicative of its overall strategy toward dealing with its constituencies including employees‚ customers‚ shareholders‚ and communities. This decentralized strategy has affected the Carson’s communications. 2. What specific problems does Mr. Haskell have as a result of his communications to materials managers
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ACCOUNTING DATA tag this page! HOME NEIGHBORHOODS MAKING OF If you like the reocities.com project you can donate bitcoins to: 1E8rQq9cmv95CrdrLmqaoD6TErUFKok3bF ACG 6085 – ADVANCED ANALYSIS OF ACCOUNTING DATA CLASS NOTES – WEEK 1 – MAY 8‚ 1999 CHAPTER 1 Need for Information – Many users meet the needs for Managerial Vs. Financial Managerial – More internal (detailed) Uses future and historical (prepare budgets‚ forecasts‚ projections and has no set rules) GAAP – Generally Accepted Account
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CASE 1-2 : McDonald’s expands globally while adjusting its local recipe Discussion Questions : 1-18. The key elements in McDonald’s global marketing strategy are based on the concept of this quick-service restaurant which is delivering three things to customers: inexpensive foo‚ quick-service and clean and familiar environment. Memorable advertising and intensive promotion efforts are two important tools that made McDonald’s one of the world’s most valuable brands. For instance “I’m loving it”
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Case 2-1 Cynthia Cooper and WorldCom Cynthia Cooper details her trials and tribulations about her experiences at WorldCom in the book Extraordinary Circumstances: The Journey of a Corporate Whistleblower. The following excerpts from the book describe the actions she took to uncover the fraud at WorldCom and reactions of key players in the accounting department‚ top management‚ the audit committee and the external auditors. Cooper was first alerted to the fact that there may have been a problem
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