records indicate the following information for the year: Merchandise inventory‚ 1/1 $550‚000 Purchases 2‚250‚000 Net Sales 3‚000‚000 On December 31‚ a physical inventory determined that ending inventory of $600‚000 was in the warehouse. Quigley’s gross profit on
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Table of Contents Case 1 Introduction Jill’s business is expanding while the up going GST prevent her from gaining more profits. The idea of replacing the labor with the help of new equipment will bring about an unprofitable break-even point. However Jill still insist on borrowing from bank to invest in the equipment regardless of the CVP analysis result‚ which raised some ethical issues. Analysis Question 1 Defining the stakeholders There are 5 major stakeholders arising
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3 Adjusting Accounts and Preparing Financial Statements QUESTIONS 1. The cash basis of accounting reports revenues when cash is received while the accrual basis reports revenues when they are earned. The cash basis reports expenses when cash is paid while the accrual basis reports expenses when they are incurred (and matched with revenues they generated). 2. The accrual basis of accounting generally provides a better indication of company performance and financial condition than does
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Oxygen Cycle Required for Life All living things use oxygen or depend on organisms that use oxygen in some way. All Animals and Other Consumers Use Oxygen We use oxygen to break down simple sugar and release energy. This can be done through respiration or fermentation. Animals mainly use respiration. Respiration The process that breaks apart simple food molecules to release energy. It occurs inside cells. What YOU do with the oxygen
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For this case study I will be using The Cycle of Change (TCC) or otherwise known as the Transtheoretical Model of Change (TTMC) by Prochaska & DiClemente (1983). This theory was originally used to facilitate and understanding process of behavioural change (Horwath & Morrison 2001). Originally used to understand the process of change for people that wanted to stop smoking‚ it is now applied and used with a wide range of issues. For example‚ treatment from a range of genetic concerns‚ domestic abuse
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market goes through a certain sequence of stages known as Product Life Cycle. It is a sequential stage and its length varies from one product to the next. the main stages of the product life cycle are: development‚ introduction‚ growth‚ maturity and decline stage. 1. Development Stage It is the first stage of product life cycle. It is an important stage that is almost ignored by the traditional financial accounting model. A product starts from a new ideas or possible inventions 2. Introduction
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linked with education. With the poor education system that is currently in place there is no way for many people to break out of what is called the cycle of poverty. The cycle of poverty is when people are unable to be educated so they are unable to get a job that pays enough to allow them to end the vicious cycle. There are a few causes for this cycle such as financial instability or the class sizes being too large. To begin with‚ students who are financially
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Case 26-4: Baldwin Bicycle Company* Note: This case is unchanged from the Eleventh Edition Approach The broad issue in this case is the analysis of the profitability of a company’s sales to specific customers. Most differential cost cases dealing with incremental volume are such that the student can reasonably assume that the “great majority (if not all) of the differential cost items will be variable costs. In this instance‚ a possible medium-to-long term volume increase of 22 percent suggests that
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The process of Nitrogen being released from Alanine‚ oxidized by soil microbes‚ absorbed by a root‚ and reduced and assimilated into aspartic acid is known as the Nitrogen Cycle. This cycle is necessary because there is a shortage of nitrogen in the soil; therefore‚ most of the soil nitrogen is obtained from dead organic materials such as Amino Acids. The first step in this process is nitrogen being released from the amino acid. This process is known as ammonification. Alanine is used as an organic
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Question 1 The ethical guidelines which accountants are obliged to follow in the conduct of their work are made to combat criticism and gain credibility by preventing fraudulent accounting. Accountants ought to be able to maintain impartiality and independence to create a clear‚ credible and unbiased audit. Hence‚ the ethical principles are considered important. This is because the work of accountants requires a high level of ethics since the financial statements prepared and verified by auditors
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