Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - Moss Exports is having a bad year. Net income is only $60,000. Also, two important overseas customers are falling behind in their payments to Moss, and Moss's accounts receivable are ballooning. The company desperately needs a loan. The Moss Exports Board of Directors is considering ways to put the best face on the company's financial statements. Moss's bank closely examines cash flow from operating activities. Daniel Peavey, Moss's controller, suggests reclassifying the receivables from the slow-paying clients as long-term. He explains to the board that removing the $80,000 increase in accounts receivable from current assets will increase net cash provided by operations. This approach may help Moss get the loan.
Requirements
1. Using only the amounts given, compute net cash provided by operations, both without and with the reclassification of the receivables. Which reporting makes Moss look better?
2. Under what condition would the reclassification of the receivables be ethical? Unethical?
henrys hoodies produces a variety of sweatshirts for college students. henrys produces sweatshirts in batches and
at december 31 2007 angie brandt corp. has assets of 10000000 liabilities of 6000000 common stock of 2000000
A strategy canvas can depict the relative performance across key competitive factors for both an industry and a particular company or group of companies.
gorham manufacturings sales slumped badly in 2012. for the first time in its history it operated at a loss. the
Draw a document flowchart of the purchase processes of Kludney Identify any weaknesses in internal controls within the purchase processes and indicate the improvements you would suggest
betty whose tax rate is 33 is in the business of breeding and racehorses. except for the transactions below she has no
elson corporation a retail fuel oil distributor has increased its annual sales volume to a level three times greater
What are some of the difference between the preparation of fund-basis financial statements and the preparation of the government-wide statements. What are some of the differences in requirements? When is each used and who is the audience for each?
A trucking firm must decide at the beginning of the year on the size of its trucking fleet. If on a given day the firm does not have enough trucks, the firm will have to rent trucks from a rental company. Discuss how you would determine the optim..
What are the total current assets at the end of the previous annual reporting period?
Smith, a trader, received from his solicitor a cheque for £74 which represented the proceeds of collecting a debt due to him from Jones, a customer.
Present a list of the three controlling accounts used in the general ledger to record the inventories and, in each case, indicate the related subsidiary ledger.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd