by the time the rings wear out. Hans would then have to deal with the total cost of two rings ($279.65 + $1107.90 = $1387.55 per hundred). In this scenario Hans would be face with a net loss of $37.55 ($1387.55 - $1350 = $37.55) since the two combined cost are over the selling price of $1350 per hundred rings. The net loss of $37.55 would be significantly less than trying to sell the units that will soon be obsolete and can reasonably expect the selling price to fall from $1350 to $337.5 per hundred
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increased to $2.2 billion at the end of the first quarter Cash flow from operations was approximately $710 million in the first quarter Revenue of $2.8 billion in Q1‚ down 33% from $4.2 billion in the prior quarter GAAP net loss in Q1 of $518 million or $0.99 per share diluted; adjusted net loss of $192 million or $0.37 per share diluted Shipments of BlackBerry smartphones were 7.8 million and shipments of BlackBerry PlayBook tablets were approximately 260‚000 BlackBerry 10 smartphone launch now scheduled
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based costing system‚ Classic Pen appears to be profitable and making a good return on sales of blue‚ black‚ red‚ and purple pens. The percentage of return on sales of all four colors of pens seems to be no less than 17%. Once the traditional income statement is analyzed‚ the indirect costs are lumped together in the general cost pool titled “overhead”; these costs should be broken down into specific cost pools. See below. Indirect Labor & Benefits $15‚016 $11‚551 $2‚310 Cost Pools Breakdown Scheduling
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product‚ and the potential investor‚ Dale Reid‚ has asked for projected financial statements for the company’s pessimistic‚ expected‚ and optimistic projected sales for the first year of operation ending July 30‚ 1995. Analyzing the Case Data Fragmented information was given in the case‚ along with a balance sheet and a production schedule for the expected sales of 10‚000 units. There was no statement of cash flows‚ income statement or any information about their cash account or their accounts payable account
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financial statements‚ a company must adjust its accounts. This is accomplished with periodic adjustments (also known as adjusting journal entries or accounting adjustments). For each account below‚ explain the types of transactions or events that necessitate periodic adjustments to the account for the typical company. i. “Inventories‚ net.” – If a company purchases products to be resold‚ there is an adjustment on the balance sheet to reflect this net inventory. ii. “Receivables‚ net.” – If
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oil and gas properties. These costs are amortized using a unit-of-production method based on volumes produced and remaining proved reserves. The net unamortized capitalized costs of oil and gas properties less related deferred income tax MAY NOT exceed a ceiling consisting primarily of a computed present value of projected future cash flows‚ after income taxes‚ from the proved reserves. Under this method‚ the Company capitalizes all acquisition‚ exploration and development costs for the purpose
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Projected Balance Sheets‚ Income Statements & Statement of Cost of Goods Sold for 2009 and expected transactions for 2010 in order to prepare the 2010 budget. II. Analysis A. ANALYZING FINANCIAL STATEMENTS FOR 2010 Below are the transaction report & trial balance of Browning Manufacturing Company for 2010 based on expected operations for the budget year 2010. From this‚ the task is to prepare a projected statement of cost of goods sold‚ projected income statement and projected balance
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I.Issues Why does net income not equal cash flows? Why do we need accrual accounting? (Why do not we fire all accountants and just publish summary bank statements) Why do the differences between owners’‚ players’‚ GAAP and truth number exist?(Can accounting numbers be neutral representations of what happened? What happens if a retired non-roster player (e.g. Joe Portocararo) returns to the active roster while continuing to earn the same money promised him in his guaranteed contract? Of what
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of the most recent annual financial statements and notes only‚ briefly assess the company’s performance for this potential investor. (Analyze based on data from Financial reports P71‚ 73‚ 74) By using the consolidated income statements‚ balance sheet and cash flow statement‚ we can assess the company’s financial position. On the income statement‚ the company’s operation revenue increased by 4.5% ($393.4 million) from year 2006 while its operating income decreased by $65.1 million in the same
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1.1.1 Financial Performance Analysis. The financial statement provides the basic data for financial performance analysis. Basic limitation of the traditional financial statement comprising the balance sheet and the profit and loss account is that they do not give all the information regarding the financial operations of a firm. Nevertheless‚ they provide some useful information to the extent the balance sheet mirrors the financial position on a particular date in terms of the structure
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