A. What is an account receivable? What other names does it go by? Accounts receivable are amounts owed by customers on account. They result from the sale of goods and services on credit. These receivables are generally expected to be collected within 30 to 60 days. They are typically the most significant type of claim held by a company. Accounts receivable and notes receivable resulting from sales are also known as trade receivables. Accounts receivable resulting from sales are referred to
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Grade 45/50 Managerial Accounting 505 Case Study Week 3 A. What is the break-even point in passengers and revenues per month? Total Per Unit Percent Sales: 160 X 90 $14‚400 $ 160 100% Less variable costs/expenses: .70 X 90 $ 6‚300 $70 44% Contribution margin: $ 8‚100 $90 56% Less fixed costs/expense: $3‚150‚000 Net operating income: $3‚141‚900 8‚100 /14‚400 = 56% 100 - 56 = 44% BEP in passengers
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Why study accounting in Singapore Accounting is the course which is available in almost every university around the world. However‚ I have strong reasons why I decide to have my further education and pursue my dream in Singapore. By choosing to study accounting in Singapore‚ not only being able to receive high standard and all-rounded education‚ I will also have an opportunity to learn‚ understand and appreciate cultural differences. First of all‚ Singapore is reputed for excellent and comprehensive
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Chilean Mine Collapse When handling a tragic event such as this there are many things to take into consideration. There are going to be many different people that are going to be affected by this catastrophe. First and foremost is the family of the employees that are trapped in the mine. There biggest concern would be to know that their loved ones are ok and are going to be rescued. In a case like this you would want to give the family a positive message and reassure them that the company is
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Accounting for the iPhone at Apple‚ Inc. (HBS 9-111-003) 1. Exhibit 3 provides the journal entries under subscription accounting. Refer to the example in Exhibit 3. a) Complete the following FSET assuming the Apple follows subscription accounting to account for iPhone’s sales revenue (separately for the transaction in Quarter 1 and in Quarters 2 to 8). Balance Sheet Income Statement Transaction Cash Asset + Noncash Assets - = Liabilities + Contrib. Capital + Earned Capital Revenues
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Collapse of the Soviet Union For most of the 1900’s‚ the Soviet Union was one of the most powerful countries in the world. They fought in both World Wars and they also helped to defeat the Nazis in World War 2. Even with all of their achievements‚ the Soviet Union’s government began to disagree with the people and even force their will upon them in the mid to late 1900’s and they finally collapsed in 1991. The collapse of the Soviet Union was caused mainly by internal issues that developed long
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Solutions in the case Banc One’s stock price has fallen recently due to concerns of investors and analysts about the heavy use of the entity of interest rate derivatives. Dick Lodge‚ chief investment officer in charge of the bank’s investments and derivatives portfolio‚ the Director General shall recommend a plan of action to allay the fears of investors to the market and communicate the reasons for Banc One use of derivatives. The Bank uses interest rate swaps to manage its earnings sensitivity
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CHAPTER 7 CONTROL AND ACCOUNTING INFORMATION SYSTEMS SUGGESTED ANSWERS TO DISCUSSION QUESTIONS 7.1 Answer the following questions about the audit of Springer’s Lumber & Supply a. What deficiencies existed in the internal environment at Springer’s? The "internal environment" refers to the tone or culture of a company and helps determine how risk consciousness employees are. It is the foundation for all other ERM components‚ providing discipline and structure. It is essentially the same
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QAUNTITATIVE TECHNIQUES SOLUTION FOR THE CASE CUTTING CAFETERIA COSTS LPP MODEL FOR CAFETERIA COST CUTTING Objective: To reduce the purchase of potato and green beans‚ so as to meet the conditions of the various constraints to achieve the goal of minimizing the purchase cost. Constraint conditions: Potatoes Green Beans Protein 1.5 g per 100 g → 1.5% 2 g per 100 g → 2% Iron 0.3 mg per 100 g → 0.3% 1.2 mg per 100 g → 1.2% Vitamin C 12 mg per 100 g → 12% 10 mg per 100 g → 10%
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tensions‚ and perseverance through adversities. Although Detroit has a long and prosperous history‚ primarily due to its automobile industry‚ a bankruptcy was filed on July 18‚ 2013. By this time‚ the city had reached 18-20 billion dollars in debt. This collapse not only affected the city’s industries‚ but the citizens of Detroit as well. Detroit is known to be one of the most difficult cities to live in as it breeds economic hardships. As Detroit rebuilds itself from economic and political failure‚ many
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