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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Group member: Li Ruixuan‚ Chen Yi‚ Ai Huanyu‚ Jin Peiyao‚ Wu Jindi. Research method: This case talks about Slavery in the chocolate industry. They treat children as slavery‚ and force them to do hard work. The reason by various factors‚ we can discuss form systemic‚ corporate and individual ethical issues. Such as systemic‚ economic systems should be taken into consideration. Cocoa bean prices had declined‚ between 1996 and 2000‚ the price control by the global market but farmers had no control
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Here’s our take on it! Chocolate - The independent lady Most of us know of the Strong‚ independent woman who is a go-getter. She’s hot‚ fierce and everybody likes the idea of this woman but it takes a special kind of man to truly appreciate her true nature (Dark Chocolate‚ anyone?). However‚ she is refreshing to talk to‚ is easily approachable and is loved by almost everyone she comes across‚ no matter what form she takes (We do like the difference versions of chocolate: bars‚ Brownies‚ Flapjacks
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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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After having received an email from Shannon McDonald (regarding the need to receive a statement of his perspective on recent performance and ideas)‚ Thomas Green is left with several options to choose from to solve the issue at hand. Before discussing these options it is important to describe his first step in taking any one of these decisions. Green must first email McDonald to find out the best time they could meet. For any decision Green decides upon at this point‚ it is important that he communicate
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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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heavenly taste of chocolate which transports you to a different world? The astounding global popularity and rich‚ wholesome taste of chocolate is beyond imagination. Happily for chocolate lovers‚ it not only tastes great but has a plethora of tangible benefits. Add Chocolate liberally to enchant different taste buds Chocolate is the proverbial jewel in the crown of many mouthwatering dishes such as chocolate chip cookies‚ chocolate cakes‚ chocolate ice cream‚ chocolate tarts‚ chocolate puddings and
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FIRST DRAFT INTRODUCTION Recently‚ chocolate has been getting mixed reviews from physicians‚ scientists‚ and mothers across the country. For years‚ people blamed the sugary confection for their expanding waist lines‚ acne problems‚ and caffeine jitters. But more research is being presented that claims not all chocolate is this sinister‚ and that some might actually be good for your health. Chocolate is proven to make us healthier‚ can benefits us mentally and it also can induce good hormones in
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you hear the word Chocolate‚ you’re in for a treat. Chocolate is one of the most addicting food in the world and people say it’s the most unhealthy food for you‚ but I’m gonna give you facts about why chocolate might actually be good for you and the best brands of chocolate you need to get. Many people around the world say chocolate is one of the tastiest food on Earth‚ chocolate also has many benefits. Just don’t go overboard as chocolate still contains sugar and fat. chocolate is full of antioxidants
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HOW IS CHOCOLATE MADE? Ever wondered‚ “how is chocolate made?” Let’s pick up with the arrival of the cacao beans at the factory. At the factory‚ the cacao beans are first sifted for foreign objects- you know‚ rocks‚ machetes‚ whatever got left in the bag. The cacao is weighed and sorted by type so that the manufacturer knows exactly what type of cacao is going into the chocolate. Some manufacturers use up to twelve types of cacao in their recipes‚ and they must carefully measure so that the flavor
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