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write a short essay answering the following questions (200 words count)
1) Select either the balance sheet or income statement and explain how the use of it may be applied to your everyday life.
2) Using the same concept selected above, discuss how a business manager may benefit from an understanding of this statement.
3) Discuss how your understanding of the balance sheet and income statement may be applied to your current or future position.
When doing a horizontal analysis on a business income statement, you notice that sales have decreased by 9%, but the gross profit has increased by 13%. What are some factors that could cause this to happen?
Research and locate the business information of an energy company. The investigation team has assigned to you the task of identifying databases that are repository of public records, and that may be used for investigating the following:
At 12/31/12, the end of Jenner Company's first year of business, inventory was $4,100 and $2,800 at cost and market, respectively. Following is data relative to the 12/31/13 inventory of Jenner.
Distinguish between a defined benefit plan and a defined contribution plan. Why does a defined benefit plan present far more complex accounting issues than a defined contribution plan?
The infrastructure has a basis of $400 million and would be depreciated over a 40 year life, if depreciation were charged. The amount that would be shown as expense in the Statement of Activities would be:
Assume variable manufacturing overhead is allocated using machine-hours. Give three possible reasons for a favorable overhead efficiency variance. Which reason is most persuasive? Why?
What do you think is the more accurate basis of accounting?
Interest is at 12%. Assume cash flows occur at the end of the year. Calculate the total present value of the cash flows.
Who is the best employ in Dr. Conrad's office to reconcile the bank statement? Would a bank reconciliation uncover office fraud?
Father and son are co-owners of a manufacturing company, with father having transferred some of his stock to his son in previous years. There is no debt in excess of stock basis.
Turquoise and Topaz Sisters had retained earnings of $15,000 on the balance sheet but disclosed in the footnotes that $2,000 of retained earnings was restricted for plant expansion and $1,000 was restricted for bond repayments.
Which of the following is NOT a reason for expecting that a cause-and-effect relationship exists between the level of an activity and specified costs.
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