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Discussion: As an employee, write an internal memo to your manager addressing the following:
Use the Internet search engine of your choice and do a general search on the name of a company of interest to you. Explore the web site of the company you choose and locate that company's most recent financial statements. You may need to look under a category that provides general information about the company and/ or investor information.
• Find and read the description of the company, including the type of business it is in. Why is gaining an understanding of the industry and type of business an important starting point for financial statement analysis?
• Locate the company's primary financial statements. Find the summary table of ratios in this chapter in Exhibit 14-26. Calculate three of the listed ratios under each of the following categories: "Measures of short-term liquidity" and "Measures of profitability." Show your work in calculating these ratios. Write a brief statement describing what you have learned about your company's liquidity and profitability.
• Why do you think the Internet has become such a widely used source of financial information by investors and creditors?
Closing inventories, which had been used in calculating gross profit had been overvalued by £3,000. What is profit for the year after adjusting for these errors
A quaint but well-established coffee shop, the Hot New Cafe, wants to build a new cafe for increased capacity. Expected sales are $800,000.
Prepare an analysis of the variances for materials and labour for the year. Prepare an analysis of the variances for variable and fixed overhead for the year
The fixed manufacturing overhead variance caused by actual activity being different from the estimated activity used in calculating the predetermined overhead application rate is called the:
At the beginning of 2011, a decision was made to change to the straight-line method of depreciation for this equipment. The depreciation expense for 2011 would be:
Prepare summary journal entries to record the following transactions and events a through g for a company in its first month of operations.
The enacted tax rate for 2011 and 2012 was 30%, but during 2012 new tax legislation was passed reducing the tax rate to 25% for the years 2013 and beyond.
After the distribution, Elsie's bases in the accounts receivable, inventory, and partnership interest are:
Use Table B.3 in Appendix B to compute the amount of the annual payment for each of the following annual market rates:
What are the 2 methods that companies implement to adjust the outstanding accounts receivable for the current accounting period? How often is this done?
1. when merchandise that was sold on account is returned which accounts are affected?a.cash accounts receivable cost
Prepare a statement of retained earnings for the 3 months ending September 30, 2015.
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