MEMORANDUM TO: Chief Financial Officer FROM: Controller DATE: August 4‚ 1990 SUBJECT: How to Report Earthquake Damages in the Income Statement CHHS Inc. has suffered extensive damages due to the after math of the October 17‚ 1989 San Francisco Bay Area earthquake that hit at a 7.1 magnitude on the Richter scale. Twelve of the twenty-two stores have been closed for a varying period of time due to the large damages that occurred. In total‚ damages have summed to
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Objectives * Thirteen Drive-thru locations and four fully booked Mobile Cafes by the end of the third year. * Gross Margin of 45% or more. * Net After-tax Profit above 15% of Sales. Vision To be the preferred destination of beverage drinkers. Mission * Provide customers the finest quality beverage in the most efficient time. * Provide community support through customer involvement. * Operate and grow at a profitable rate through sound economic decisions. Company
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Case 9-23 1. a. Sales budget: April May June Quarter Budgeted sales in units 35‚000 45‚000 60‚000 140‚000 Selling price per unit × $8 × $8 × $8 × $8 Total sales $280‚000 $360‚000 $480‚000 $1‚120‚000 b. Schedule of expected cash collections: February sales $ 48‚000 $ 48‚000 March sales 112‚000 $ 56‚000 168‚000 April sales 70‚000 140‚000 $ 70‚000 280‚000 May sales 90‚000 180
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Income Statement Income statements present an ordered list‚ grouped by broad categories of revenues and expenses. The income statement begins with revenues followed by a list of expenses. U.S. GAAP and IFRS requirements for the presentation of income statements are similar‚ with some important differences. *Other than separating revenues from expenses‚ U.S. GAAP provides little guidance about which items the firm must separately display or their order. IFRS requires‚ at a minimum‚ the
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The lone survivor is a story by Patrick Robinson and Marcus Luttrell. Marcus and his team of navy seals‚ had a mission to survey the Taliban leader. They come across a farmer and his goats‚ they captured them and decided they had to let them go. The farmer told the Taliban to send the 500 troops to take them out three of the four died. When I read this story it made me believe that to never give up. “Find an excuse to win ‘’Marcus was left with 200 troops chasing him. Marcus didn’t give up. He hid
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Escareno Corporation has provided its contribution format income statement for June. The company produces and sells a single product. Sales (8‚400 units): ($) 764‚400 Variable expenses: ($) 445‚200 Contribution margin: ($) 319‚200 Fixed expenses: ($) 250‚900 Net operating income: ($) 68‚300 If the company sells 8‚200 units‚ its total contribution margin should be closest to: Merchandise with a sales price of $500 is sold on account with term 2/10‚ n/30. The journal entry to record the sale would
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The most recent movie that I went to see in theaters was 鏑one Survivor� I was very excited for this film to come out from the first time I had seen a preview for it because it is based on the past true life events of four Navy Seals on a mission in Afghanistan. I feel that this movie did a great job depicting the true every day struggles and hardships‚ both physical and emotional‚ that our military face overseas. Although there are many men and women currently serving‚ retired veterans‚ family
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For my personal response assignment I chose A Lone Journey by Aakash Pirani. This story was about a ship sent to space with a bunch of sick people and one captain whose name was Captain Lone. This captain was sent out to space with no one to talk but an emotionless A.I computer‚ after 263 days without contact with another human Captain Lone could not handle it and committed suicide. I noticed in this story that it really explains the sadness of being alone and not being able to talk or connect with
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Pine Street Capital Discussion and Analysis 1 PINE STREET CAPITAL – WHAT RISK TO HEDGE & WHAT TO BEAR? Hedge: market related risks 1. Currently managing a market neutral fund ($32 AUM) In the past the market risk was hedged by shorting or short-selling representative shares of the market index In the past the market riskunder was The alternative hedged by shorting hedging the consideration was or shortselling representativehelp of put market risk with the shares of the market the market
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function of chosen International Company Lavendary Cafe was found in 1978 by Howard Leventhal‚ who hold chain of 3‚500 cafes. After 32 years of holding the business he decided to pass his role to the Mia Foster‚ who become a new CEO. She had a lot of experience‚ as previously she had been a president of U.S. business of a large American fast food company for seven years. After gaining the power Foster felt the challenge to make Lavendary Cafe a multi-national brand;Wall Street’s were very skeptical
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