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Using the most recent annual report of the company you have chosen to study and that you have accessed online at the company's website, examine inventory(ies) on the balance sheet and accompanying note on inventory(ies) of your company. Answer the following questions:
1. What percentage is inventory(ies) to total current assets? Do you think this percent- age represents the importance of inventory(ies) to the company's operations?
2. Find the note about inventory(ies) in the notes to the financial statements. Does the company have more than one type of inventory? If so, what are they? What method(s) are used to value inventory(ies)? What other facts, if any, are disclosed about inventory(ies) in the note?
3. Calculate inventory turnover and days' inventory on hand for the most recent two years. (Round to one decimal place.) Has the com- pany improved its performance in these areas over the past two years?
How much of Joe's bonus might the IRS re-characterize as a dividend Supposing the IRS re-characterizes $200,000 of Joe's bonus as a dividend, what additional income tax liability does Nittany Company face
analysis of various discounted cash flow methods.discounted cash flow capital budgeting methods such as npv have been
On February 21, 2014. Joe purchased new farm equipment for $60,000. Joe has made an election to not have the uniform capitalization rules apply to his farming business. He does not take additional first-year depreciation (if available). If Joe elects..
What is the meaning of the following sentence: "Amortization affects the amount of interest expense." How does amortization of premium affect the amount of interest expense? How does amortization of discount affect the amount of interest expense?
analysis of various methods of inventory system and its effect on ending inventory and cost of goods sold.glanville
The Knott Division's evaluated sales and standard cost data for the fiscal year ending Sept. 30 are as given:
A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning work in process inventory; 80,000 units were sta..
Determine whether the following transactions are taxable. If a transaction is not taxable, indicate what type of reorganization is effected, if any. Alpha Corporation owns assets valued at $400,000 and liabilities of $100,000. Beta Corporation transf..
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A building with a book value of $35,258 is sold for $54,609 cash Using the indirect method, choose how this transaction should be shown on the statement of cash flows.
calculation of impact on profit by selecting an option.lakeshore tours inc. operates a large number of tours throughout
Using the following information, determine the fixed and operating costs for a scraper.
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