Discount on Notes Payable 1‚636 Cash 2‚000 Notes Payable 18‚000 *PV of $18‚000 @ 10% for 1 year = $18‚000 X .90909 = $16‚364 $16‚364 + $2‚000 = $18‚364 3. Trucks 15‚200 Cost of Goods Sold 12‚000 Inventory 12‚000 Sales Revenue 15‚200 4. Trucks 13‚000 Common Stock 10‚000 Paid-in Capital in Excess of Par – Common Stock (1‚000 shares X $13 = $13‚000;
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Q 2.3 (Inventory Cost) A manufacturing company producing medical devices reported $60‚000‚000 in sales over the last year. At the end of the same year‚ the company had $20‚000‚000 worth of inventory of ready-to-ship devices. A. Assuming that units in inventory are valued (based on COGS) at $1‚000 per unit and are sold for $2‚000 per unit‚ how fast does the company turn its inventory? The company uses a 25 percent per year cost of inventory. That is‚ for the hypothetical case that one unit of $1‚000
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Programs‚ delivers the greatest gross margin dollars? Public courses produce the greatest gross margin in dollars. * What is the prior year to current year percentage change in cost of sales‚ how does this compare to the prior year to current year percentage increase in revenue? The percentage increase in the cost of sales is 5.79% from 1984 to 1985. 2395-2264= 131 131/2264=
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Company’s annual report. I will discuss the business’s inventory turnover ratio and average days to sell their inventory for 2006 and 2005‚ whether the company’s management of inventory is getting better or worse and to conclude‚ I will discuss the cost flow method that Topps use to account for inventory. Examining the Topps financial report can help the corporation recognize exactly where they stand financially in order for the business to gain a competitive edge and stay successful in the future
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$98000 Expenses: $0 (b) Journal entries: Dr Cash $98000 Dr Bond Discount (Contra-Liabilities) $2000 Cr Bond $100‚000 (2) Ten board game companies ordered goods and sent $70‚000 to CoinRich Ltd in advance. By the end of the year‚ CoinRich Ltd has corresponded to only $60‚000 of the fees. The rest will be corresponded next year. Cost of goods sold is recognised at 50% of the sales. (a) Year-end liability and expenses for the year: Liabilities: $10‚000 Expenses: $30‚000 (b) Journal entries:
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the service is rendered. If passengers cancel their reservations before the ship is off‚ revenue still has not yet booked. The difference would be made when the trip has taken off. 4. Accretion No revenue should be recognized in 2006. The goods have not been
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Marketing Effectiveness QUALITATIVE ANALYSIS – Advantages and disadvantages of each alternative Reject the AOL Partnership Pros • Would save $2million that would otherwise be spent on the deal with AOL • Avoids having to pay for cost of exposures on AOL • Is able to retain full control of the company • Can invest the money somewhere else o Print and mail more catalogs o Buy exposure on television Cons • Miss out on a chance of generating more sales o More and more people
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CHAPTER 6 PRODUCTION EXERCISES 4. A political campaign manager must decide whether to emphasize television advertisements or letters to potential voters in a reelection campaign. Describe the production function for campaign votes. How might information about this function (such as the shape of the isoquants) help the campaign manager to plan strategy? The output of concern to the campaign manager is the number of votes. The production function has two inputs‚ television advertising and
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signing off on false information and knowingly overlooking discrepancies in where inventory was inflated and cost of goods sold deflated to keep the company from showing a loss for the year‚ or report the issues and possibly cause the company to have its loan called by the bank and go out of business. This dilemma would also include a personal aspect in that Jane faced the decision that could cost her the loss of her job or her credibility. The events leading to this dilemma include the poor inventory
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Jennifer Norcutt Case Study Week 2 MBA 622 - Operations Management June 2‚ 2013 Good forecasts are an important facet of business: "The forecast is the only estimate of demand until actual demand becomes known" [ (Heizer & Render‚ 2014) ]. L.L. Bean estimates that annual costs of lost sales and backorders to be $11 million and costs of having too much or the wrong inventory were an additional $10 million. With losses like these it would appear from the outside that L.L. Bean has serious
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