CHAPTER 5 Merchandising Operations and the Multiple-Step Income Statement ANSWERS TO QUESTIONS 1. (a) Disagree. The steps in the accounting cycle are the same for both a merchandising company and a service company. (b) The measurement of income is conceptually the same. In both types of companies‚ net income (or loss) results from the matching of expenses with revenues. 2. The components of revenues and expenses differ as follows: | | Merchandising | | Service | RevenuesExpenses
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in the day time. Having observed these problems being encountered‚ this project will be developed to bring about the automation of the switching of lighting system using light depending resistor (LDR). The project is an electronic switch that is controlled (turned on and off) by the amount of light shining on the LDR. When light strikes the LDR‚ the switch opens (turns off); when the LDR is in darkness‚ the switch
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An essay on light bulb While many learned professors have abandoned hope of ever discovering the truth behind light bulb‚ I for one feel that it is still a worthy cause for examination. In depth analysis of light bulb can be an enriching experience. Cited by many as the single most important influence on post modern micro eco compartmentalism‚ it is yet to receive proper recognition for laying the foundations of democracy. Often it is seen as both a help and a hinderence to those most reliant on
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Destin Brass Products Problem: - The Company is producing 3 major products – Valve‚ Pump and Flow Controller. The Company is concerned about the price cutting of Pumps going on in the market every month. It is also surprised to see no change in sales of Flow Controller despite 12 ½% increases in prices. Current Scenario: - Currently it is using traditional accounting system‚ Unit of product is charged for material cost‚ labor cost (standard time for labor times the labor pay rate $16 per hour)
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6.0 Recommendations Acid Test Ratio The acid test ratio shows that Muhibbah have less liquidity which indicates that they holding low amount of cash but high level of inventories .They may have difficulty paying its current liabilities on time. Business is relying on turnover of stock to meet obligations. Here‚ we recommend that Muhibbah should consider level of their accounts payable or paying off their liabilities and ensure the cash flow of the business is optimal meaning that the company must
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City Lights Movie Reflection A film in pantomime‚ I believe‚ means a romantic comedy where actors express their feelings by miming. The film’s story was mainly told through mime actions and the actors along with their facial expressions since it’s the only thing that is going on in a silent film‚ besides the sound. A pantomime uses its technique‚ in where a story is told using just music‚ sounds‚ and the motion and facial expressions. The scene I find memorable is where the main character firsts
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also look at how the different plots have evolved from the usual light home movies to mafia influenced movies and now more socially relevant movies. As society evolves‚ so does our opinions and views on different ideologies or concepts about life and our surroundings. In the case of bisexuality‚ our cultures dictate whether or not we will accept it freely or with a little opposition. This is most evident in the movie Brokeback Mountain which stirred the movie industry because of its new take on how
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Name:_______________________ Class: F.___ Class No:_____ 1. Light and sight We see an object when light from that object enters our eyes. Many rays from the object enter the eye at the same time. However‚ in diagrams‚ we only show two or some rays only. A point gives out many rays but we usually draw _two___ rays to mark out the cone of rays from the point of the object reaching the eye (Fig 1a). To indicate that the eye sees the whole object‚ two cones of rays are drawn from the two
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Role of Internal Audit Function Nano Circuits Inc‚ is a publicly traded company that produces electronic control circuits‚ which are used in many products. In an effort to comply with SOX‚ Nano is in the process of establishing an in-house internal audit function‚ which previously had been outsourced. The company began this process by hiring a Director of Internal Audits. Nano Circuits’ CEO recently called a planning meeting to discuss the roles of key corporate participants regarding the implementation
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The Green Light The green light at the end of Daisy’s dock is a significant symbol within the book. To Gatsby‚ the green light represents his dream‚ which is Daisy. To attain her would be completing Gatsby’s American Dream. The first time the green light is seen in the novel is also the first time Nick sees Gatsby. Fitzgerald writes‚ “…he stretched out his arms toward the dark water in a curious way‚ and‚ far as I was from him‚ I could have sworn he was trembling. Involuntarily I glanced seaward
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