COMM 217 FINANCIAL ACCOUNTING FALL 2012 Section (lecture): B Group Project Part 2 (of 2) Dorel Inc. Presented to: Prof. George Kanaan Date: November 22nd 2012 John Molson School of Business – Concordia University $ = thousands of U.S. dollars Chapter 8 8.1 Cost of Sales Equation = Beginning Inventory + Purchases - Ending Inventory 1 846 470 000 = 510 068 000 + 177 811 000 - 442 409 000 Purchases for the year 2011 total $65 812 530. 8.2 Dorel calculates costs of
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accounted for as an asset and liability incurrence by the lessee. If a lease is classified as capitalized‚ both the leased asset and the lease obligation are recognized on the balance sheet. b. A lessee account for a capital lease if at its inception the lease meets any four criteria; the lease transfers ownership of property to the lease by the end of the lease term ‚the lease contains an option to purchase the property at a bargain price‚ the lease is 75% or more the estimated economic life of the property
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1.0 Executive Summary 1 Chart: Highlights 1 1.1 Mission 2 1.2 Objectives 2 2.0 Company Summary 2 2.1 Start-up Summary 3 Table: Start-up 3 Table: Start-up Funding 4 Chart: Start-up 5 2.2 Company Ownership 5 3.0 Services 5 4.0 Market Analysis Summary 7 4.1 Market Segmentation 7 Table: Market Analysis 7 Chart: Market Analysis (Pie) 8 5.0 Strategy and Implementation Summary 8 5.1 Sales Strategy 8 5.1.1 Sales Forecast 9 Table: Sales Forecast
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an amortized amount of $5.35 for 2003. (107/20 = 5.35) Cash $5.35 Capital Lease Receivable $5.35 H. The $323 would be part of “Owned Property and Equipment: Flight Equipment” on the asset side of the balance sheet. On the liability side of the balance sheet‚ $40 would be found
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units (8‚000 units in September less 2‚000 units in January). The difference in utility costs is $300 ($1‚400 – $1‚100). Therefore‚ estimated variable cost per unit is $.05 and total fixed costs are $1‚000 computed as follows: $300 ÷ 6‚000 = $.05 $1‚400 – ($.05 X 8‚000) = $1‚000 The difference in maintenance costs is $198 ($1‚914 – $1‚716). Therefore‚ estimated variable cost per unit is $.033 and total fixed costs are $1‚650 computed as follows: $198 ÷ 6‚000 = $.033 $1‚914 – ($.033 X 8‚000)
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shares. Required Calculate the cost of the business combination‚ show all workings. (2 Marks) 5. How are directly attributable acquisition related costs accounted for? Why? (1 Mark) 6. In accounting for a business combination assets and liabilities acquired and assets and equity given up are measured at fair value on acquisition date. Does this mean that goodwill is also measured at fair value on that date? (1 Mark) 7. On 1 April 2013‚ Lemon Ltd acquired all of the issued shares of Orange
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period of their estimated useful lives. Total depreciation as of june 2013 stands at $34‚866. Depreciation on building is $1‚520‚ on plant and equipment is $31‚919 and Plant and equipment under finance lease is $ 1‚427. (Billabong Financial Report‚ 2013) Answer 9 Long-Term Liabilities Total long-term liabilities for Billabong International Limited amount to $239‚250. This consists of borrowings‚ deferred tax liabilities‚ provisions and other non-current liabilities. Borrowings account
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Cash P 50‚000 P 80‚000 P 25‚000 Computer at Market Value __25‚000 _______ __60‚000 Capital P 75‚000 P 80‚000 P 85‚000 1-9: c Maria Nora Cash P 30‚000 Merchandise inventory P 90‚000 Computer equipment 160‚000 Liability ( 60‚000) Furniture and Fixtures 200‚000 ________ Total contribution P230‚000 P190‚000 Total agreed capital (P230‚000/40%) P575‚000 Nora’s interest ______60% Nora’s agreed capital P345‚000 Less: investment 190‚000 Cash
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1.0 Introduction Nowadays‚ high inflation is an inevitable problem in many countries. High inflation occurred owing to the demand level of goods and services are over the supply level of goods and services. It is lead to price changes taking place. Since year of 1980‚ several different accounting approaches were introduced to overcome these problems that reflected by inflation. However‚ the historical cost accounting still widely and continuously to be used by most companies in their accounting
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Service Fund Journal Entries and Financial Statements. As of December 31‚ 2010‚ New Town had $9‚500‚000 in 4.5 percent serial bonds outstanding. Cash of $509‚000 is the debt service fund’s only asset as of December 31‚ 2010‚ and there are no liabilities. The serial bonds pay interest semiannually on January 1 and July 1‚ with $500‚000 in bonds being retired on each interest payment date. Resources for payment of interest are transferred from the General Fund and the debt service fund levies property
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