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Phuong has also received information that the introduction of new legislation will require Phuong to individually list all of the ingredients in his Sauces on the outside of the containers. This will mean that Phuong will need to review some of his recipes to keep them in line with consumer demands. While Phuong is still able to sell his old stock as it is currently labelled the impact of this is that the old "non-conforming" sixpacks have fallen in popularity. From now Phuong will only be able to sell the remaining stock of these six packs for $12.95. Each sixpack costs $2.95 to package and ship for sale.
Problem 1: Show the General Journal entry (and any calculations) to display the impact of this and explain to Phuong the reason an entry is required.
Which financial statement reports information helpful in assessing working capital and the purchase of office equipment of credit has what effect on the accounting equation?
Caravan Gaming Company is interested in developing a new facility in Brazil. The company estimates that the project would require an initial investment of $31 million. The company expects that the project will produce positive cash flows of $5,050,00..
What are the basic elements of a financial accounting system? Do these elements apply to all businesses from a local restaurant to General Motors? Explain
Suppose you are an accountant for a large retail company. At the end of the quarter, the General Manager (GM) tells you: “Our sales are slightly below forecast and we will not make our bonus this quarter. What would the ethical issues be with reporti..
Discuss the fundamental principles in the International Ethics Standards Board of Accountants' (IESBA) Code of Ethics for Professional Accountants.
explain how the perpetual and periodic inventory systems differ especially in determining cost of goods sold and ending
Determine the monthly amount. what decision would be best if you lived up to a 100. At what age would you decide that the second decision is best?
Calculate the net capital gain (loss) for 2012. How is this reported on the 2012 Form 1120? - Calculate the amount of capital loss carryback (if any) to tax years 2008 through 2011 inclusive.
Can a portfolio standard deviation be less than the standard deviation of every asset in the portfolio? If yes, please give an example.
How will you determine if there is an issue you should be worried about? What other types of financial statements might you look at to see if there is an issue
What is the simple rate of return on the new equipment? Ferris Company has an old machine that is fully depreciated but has a current salvage value of $5,000.
The portfolio's required rate of return,The risk-free rate, kRF, is 7 percent and the return on the market, kM, is 14 percent. Find Stock D's estimated beta?
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