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Q1. Explore the web and download a copy of the 2007 annual reports for both Pepsico, Inc. and The Coca-Cola Company. Based on the information contained in these financial statements, determine each of the following for PepsiCo. At December 29, 2007 and for Coca-Cola at December 31, 2007:
Q2. As the controller of Rainbow Perfume Company, you discover a misstatement that overstated net income in the prior year's financial statements. The misleading financial statements appear in the company's annual report which was issued to the banks and other creditors less than a month ago. After much thought about the consequences of telling the president, John McNeally, about this misstatement, you gather your courage to inform him. John says, "What they don't know won't hurt them. But, just so we set the record straight, we'll adjust this year's financial statements for last year's misstatement. We can absorb that misstatement better in this year than in last year anyway. Just don't make such a mistake again." Discuss at least three of the following questions:
You are a manager at an audit company. You are currently auditing XYZ Ltd. XYZ Ltd currently has a number of material operating leases reported in the 2015 financial statements.
when an individual pays for business expenses he or she needs to be careful not to mix the personal with the business.
if 600 shares of stock are purchased for 27 per share and are sold one year later for 24 per share what is the net gain
For each listed transaction and related adjusting entry, indicate the accounts, amounts, and effects (+ for increase, for decrease, and NE for no effect) on the accounting equation, using the following format: For each item, state whether the debt-to..
mollys cupcakes managementistrying to decide whetherto stay in business. they are currently losing money andwantto know
Discuss the concept of reliability. In your opinion, would the amounts reported by U.S. companies for property, plant, and equipment be more or less reliable than the current cost amounts reported by companies in England, Mexico, or elsewhere?
Assume Susie Levitt and Katie Shea of City Slips plan on expanding their business to accommodate more product lines.
heritage company manufactures a beautiful bookcase that enjoys widespread popularity. the company has a backlog of
Write a 500-to-1000-word essay contrasting the roles of the temporal and frontal lobes on behavior. Include the types of behaviors for which each lobe is responsible, as well as the effects of heredity on the development of these behaviors.
During the year, Baskett reports net income of $90,000 while paying dividends of $30,000. What is the Investment in Baskett Company balance (equity method) in Ace's financial records as of December 31 ?
To make the settlement equal, Donald agreed to pay Marla $600,000, payable over 10 years at 8% interest. For several years, Donald deducted the interest on his Federal income tax return as investment interest. Upon audit, the IRS disallowed the in..
Test an appropriate hypothesis for the relationship between marital status and the frequency of shopping at the same department store as in Exercise 27, and state your conclusions.
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