| | | | | | |Shuman Automobiles‚ Inc. | | | | | | Question #1 - Suppose the new-car deal is consummated‚ with the repaired used car being retailed for $7‚100‚ the repairs costing Shuman $1‚594. Assume that all sales
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cereal market and had taken specific steps to deter entry by new firms How? Restrained competition amongst themselves through "unwritten agreements" to limit the in-pack premiums (free toys‚ gifts‚ e tc) -Refrain from trade dealing-offering discounts to retailers for special treatment or special promotions -Refrained from widespread fortification of their brands because it was believed to not be in the long run interests of the industry (vitamin fortification) FTC also argued the big three
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Case Study Hansen Bathrooms Hansen Bathrooms is a producer of baths‚ washbasins‚ toilets and bidets. The company has been in the bathroom market for over 50 years and while sales have never been spectacular the company has managed to withstand the impact of several economic recessions by prudent cash flow management. Experts in the industry describe Hansen as a traditional‚ reliable producer that tends to follow market trends rather than lead. As a response to changing times Hansen recruited
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on a market interest rate of 8 percent. The company uses the effective interest rate method of amortization. Complete the following table: Date July 1‚ 2005 Dec. 31‚ 2005 Interest Payment --$50‚000 Interest Expense --$45‚436.12 Amortization of Discount or Premium --$4‚563.88 Book Value $1‚135‚903 $1‚131‚339.12 Interest Payment = $1‚000‚000 * 10% / 2 = $50‚000 Interest Expense = $1‚135‚903 * 4% = $45‚436.12 Amortization of Premium = $50‚000 -45‚436.12 = $4‚563.88 Book Value = $1‚135‚903 - 4‚563
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Ikea Marketing plan Executive Summary IKEA is one of the world ’s top furniture retailers‚ and its International sells home furnishings and other housewares in about 270 stores in 35 countries. To cut transportation costs‚ IKEA uses flat packaging for most of its furniture; customers assemble the products at home. The company designs its own furniture‚ which is made by about 1‚300 suppliers in more than 50 countries. IKEA ’s stores feature playrooms for children and value cuisine restaurants
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STATE SALES TAX RATES AND VENDOR DISCOUNTS (January 1‚ 2013) STATE ALABAMA ALASKA ARIZONA (9) ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA (2) IOWA KANSAS (9) KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA (9) NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA RHODE ISLAND SOUTH CAROLINA
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employees to strive for higher levels of productivity” Two types of compensaton • Direct compensaton : is the financial remuneraton received by the employee‚ in the form of cash. This may in general include elements like Basic‚ DA‚ overtme‚ shift allowance‚ commissions‚ incentves‚ bonus‚ profit sharing etc. • Indirect pay : supplements direct pay ‚ consists of PF‚ pension‚ canteen services‚ mediclaim‚ paid holidays ‚ sick leave and other benefits. Remuneraton & Rewards Non-Financial Financial DIRECT
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vendors would reduce costs by 5-10%. Fictitious revenues overstated Sales and Accounts Receivable with the latter negatively impacting WoolEx Mills’ cash flows. In addition to overstating Sales‚ the company neglected to report Sales Discounts or Sales Returns and Allowances. Further examination would be needed to determine the existence of the transactions. Finally‚ management continued to utilize outdated equipment and neglected to maintain the manufacturing plant (Krishnan & Shah 2015) (Fraud Red Flags
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our total accounts receivable. We believe that we have little concentration of credit risk associated with the remainder of our customer base. Accounts Receivable—Trade‚ as shown on the Consolidated Balance Sheets‚ were net of allowances and anticipated discounts. An allowance for doubtful accounts is determined through analysis of the following: • Aging of accounts receivable at the date of the financial statements; • Assessments of collectability based on historical trends; and • Evaluation of
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org Contents PAGE INTRODUCTION TO THE PAPER 5 CHAPTER 1: INTRODUCTION TO FINANCIAL REPORTING 7 CHAPTER 2: FINANCIAL STATEMENTS 11 CHAPTER 3: DOUBLE ENTRY BOOKKEEPING 17 CHAPTER 4: INVENTORY 39 CHAPTER 5: IRRECOVERABLE DEBTS AND ALLOWANCES 47 CHAPTER 6: NON-CURRENT ASSETS 57 CHAPTER 7: ACCRUALS AND PREPAYMENTS 75 CHAPTER 8: SALES TAX 89 CHAPTER 9: BOOKS OF PRIME ENTRY 93 CHAPTER 10: CONTROL ACCOUNT RECONCILIATIONS 109 CHAPTER 11: CORRECTION OF ERRORS AND SUSPENSE ACCOUNTS
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