Wal-Mart Financial Paper According to Fortune 500 (2008)‚ Wal-Mart CEO‚ Lee Scott dramatically cut prices on 15‚000 items because of the brutal fourth-quarter retail forecasts. He cut the prices a staggering 20 percent to lure in shoppers for the holidays. By doing so‚ Wal-Mart pressured other retailers in the industry to pinch already tight margins. Fortunately for Wal-Mart‚ the method worked. Wal-Mart grossed $100 billion‚ breaking its fourth-quarter sales record. Wal-Mart also beat a large
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Jefferson Animal Rescue is a private not-for-profit clinic and shelter for abandoned domesticated animals‚ chiefly dogs and cats. At the end of 2011‚ the organization had the following account balances: [pic] .:. The following took place during 2012: 1. Additional supplies were purchased on account in the amount of $15‚000. 2. Unconditional (and unrestricted) pledges of support were received totaling $95‚000. In light of a declining economy‚ 5 percent is expected to be uncollectible. The remainder
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predictive or confirmatory value. 2. Current liabilities are usually listed a. after long-term debt on the balance sheet. b. in order of liquidity on the balance sheet. c. in order of maturity on the balance sheet. d. in increasing order of magnitude on the balance sheet. 3. Under Canadian GAAP for Private Enterprises (ASPE)‚ if a contingent loss is deemed unlikely to occur‚ it should be a. recorded as a liability in the financial statements. b. disclosed
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Ch 7 Question 69 Essay Question The following are key terms in Chapter 7 that relate accounting for the business-type activities of state and local governments: A. Customer advances for construction B. Revenue bonds C. Utility plant acquisition adjustment D. Regulatory accounting principles E. Original cost F. Historical cost G. General obligation bonds For each of the following definitions‚ indicate the key term from the list above that best matches by placing the appropriate letter
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Executive Summary Universal Laundromat is a full-service coin-op laundry (washing‚ drying‚ and optional folding) service dedicated to consistently providing high customer satisfaction by rendering reliable machines and furnishing a clean‚ enjoyable atmosphere at a competitive price/value relationship. Our Mission: To provide convenient‚ clean‚ and friendly laundry service. Our Motto: "Professional‚ convenient‚ friendly service and competitive pricing" The timing is right for starting this new
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Chapter 13 Current Liabilities and Contingencies Part A: Current Liabilities * Liabilities and owners’ equity on the right-hand side of the equation represent the two basic sources of the assets on the left-hand side. * Characteristics of Liabilities 1. Are probable‚ future sacrifices of economic benefits. 2. Arise from present obligation (to transfer goods or provide services) to other entities. 3. Result from past transactions or events. * Current Liability * Obligations
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! ! ! Liability for Negligence! 1. The Duty! PURE ECONOMIC LOSS ! Neighbour Test (Donoghue v Stevenson): Care must be taken to avoid acts Salient Features Test (Perre v Apand): Neighbour test is not enough in cases of which you can reasonably foresee would be likely to injure your neighbour. Who are pure economic loss to establish a duty of care‚ which caused a need for further persons I ought to reasonably have in contemplation as I take an action/omission. tests to identify
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MAF253 ASSIGNMENT 2 QUESTION 1 A company has RM1‚000‚000 in idle funds and it is estimated that these will be available for investment for approximately 2 months. The treasurer is considering the following investments: (a) Purchasing Malaysian Treasury Bills; (b) Purchasing a one-month bank Certificate of Deposit; (c) Lodging a fixed deposit with a bank; (d) Purchasing commercial paper; Required: Discuss the advantages and disadvantage of each investment. QUESTION 2 “the term working capital is
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Winex Company Business Plan Dolores‚ City of San Fernando Pampanga Post Code: 2021 Tel No.: (044)-463-6677 Fax: (02) 897-8425 Mobile: 0916-191-0592 Email: winexco@yahoo.com Website: www.winex.net.ph CONTENTS Page 1. Summary 3 2. Business Overview 4 Introduction 4 Current Position 4 Competitive Advantage 6 Growth Plan 6 3. Business Strategy 7 Tactics
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Sources E) DEBIT Inventory of Supplies‚ CREDIT Expenditures Answer: 4) Which of the following is not a typical governmental fund liability (and thus not an expenditure that is recognized when the liability is incurred)? A) Accounts payable B) Debt service C) Salaries payable D) Vouchers payable E) All of the above are typical governmental fund liabilities. Answer: 5) Which of the following governmental fund expenditures would not be considered a current operating expenditure? A) Capital
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