Statement For The Year Ended December 31‚ 2012 Sales Revenue Net Sales $1‚200‚000 Cost of Goods Sold 780‚000 Gross Profit 420‚000 Operating Expenses Selling Expenses $65‚000 Administration Expenses $48‚000 113‚000 Income from operations 307‚000 Other revenues and gains Dividend Revenues 20‚000 Interest Revenues 7‚000 27‚000 334
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acquire the necessary fitness equipments. Rosemary hired Kate Hoffman as a business manager. Kate’s primary tasks included marketing‚ facility upkeep‚ scheduling of appointments‚ and record keeping. Kate was paid a salary plus a commission based on gross revenues. Kate was proving to be an effective marketing manager because the number of clients was growing‚ and Rosemary hoped that by the end of the year the business would be earning a profit. However‚ Rosemary became suspicious of Kate and gradually realized that Kate wasstealing
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commission revenue for sale of the extended warranty at the time of the sale‚ if CIC reinsures with TPI sold by CC. Analysis: My opinion to this question is that the Crazy Computer Company cannot recognize the commission revenue at the time of the sale and the revenue should recognize on a timely basis and also the revenue should be amortized and recognize along with the time of the service period. Usually when Crazy Computer sold the extended warranty and it could recognize the revenue at the
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one of the area’s ski slopes and hiking trails. Sunset is well respected by both Sally’s peers and patients; Dr. Jones has been approached several times to move her practice to a large urban hospital where her practice could increase its $1 million revenues several times over. However‚ Dr. Jones prefers the quite lifestyle of rural Colorado to the more frenetic pace of urban living. Sunset Medical experienced a great deal of turmoil over the past few years. In 2008‚ while at a medical convention
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information on Patten Fuller Hospital will be revealed. Specifically‚ the differences between audited and unaudited statements and reporting on the hospital’s ratios will be included. Information related to the relationship on revenue sources and expenses will include how the hospital revenues and expenses are grouped for planning and control. Audited and Unaudited Differences During the years of 2008 and 2009 the Patton-Fuller Community Hospital’s balance sheet had some differences with the patient accounts
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Conventions for UOPHX ACC 281 When using Online Practice for Financial Accounting‚ please assume the following: • Accrual basis accounting is being used unless Online Practice specifies cash basis accounting. (Very briefly: in accrual basis accounting‚ revenues are recognized when earned‚ not necessarily when cash is received‚ and expenses are recognized when incurred‚ not necessarily when cash is paid. For more information‚ please see the Online Practice for Financial Accounting Dictionary.) • The fiscal
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Margin‚ ( Net Income / Total Revenue) “It measures how much out of every dollar of sales a company actually keeps in earning.” This concept is effective to compare similar companies in an industry; a higher profit margin indicates a better leading position in the industry. It is an indicative factor for Sears to forecast its position in this industry 2. Asset Turnover rate ( Revenue/ Asset) This ratio can measure how efficient Sears uses its asset to chase for revenue. 3. DEBT to Equity
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Kodak as a brand had a Unit market share of 70% in a market of 670 million film rolls produced annually. I assume that Kodak Ektar accounted for 30% of the 70%‚ which equals to 21% of the whole market share‚ also equals to 140.7 million sales. The revenue can be calculated by multiplying this sales number by retail price‚ which is $600.79 million. Given the gross margin of 70%‚ the cost of each roll‚ $1.28‚ can be calculated. Kodak Royal Gold‚ which was designed to replace Kodak Ektar‚ was priced
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qualitatively. What are the problems facing Philip Chin and the Hurricane Island Outward Bound? (two to three bullet points) (5 points) Phillip Chin and the Hurricane Island Outward Bound School are trying to find a balance between increasing revenue and staying in line with their mission and goals. They must find the ideal mix of course offerings and marketing efforts while maintaining school leadership. * In addition to finding the perfect marketing mix‚ Philip Chin and HIOB also need to
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was its “no late fee” initiative that caused a costly buildup of inventory. This caused cash flows and revenues to suffer‚ causing stock price to hit rock bottom‚ further risking the firm’s reputation as a firm worth investing in. However‚ its success lies in its well-known brand and important relationships with movie studios that rely on it as a major distribution channel and source of revenue. Netflix is an American corporation that offers both on-demand video streaming over the Internet‚ and
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