Assume that your firm was auditing General Electric in 2000 and was recommending an adjustment to its financial statements that reduced net income. Based on the fees paid to your firm in 2000, what incentive(s) might your firm consider in insisting upon this adjustment? How would your firm's incentive(s) differ after 2004?

According to the Blockbuster FY 2004 10K, what change in Blockbuster revenue, net income, liquidity, leverage, turnover, profitability, and/or market value measures are most descriptive Blockbuster’s performance for the period 2003 through 2004? How did the overall market change over that time frame? How has Netflix performed in this time frame? Select the single best available answer from those presented below. Group of answer choices

A) Experienced a massive loss of shareholders' equity; consumer spending for in-home movie viewing in the United States increased; revenues and subscribers have more than tripled.

B) Maintained a stable dividend; DVD sales increased; experienced their first Net income gains .

C)Experienced a massive loss of shareholders' equity; DVD sales increased; experienced Net income losses.

D) Maintained a stable dividend; consumer spending for in-home movie viewing in the United States increased; revenues and subscribers have more than tripled.

According to the Blockbuster FY 2004 10K, what change in Blockbuster revenue, net income, liquidity, leverage, turnover, profitability, and/or market value measures are most descriptive Blockbuster’s performance for the period 2003 through 2004? How did the overall market change over that time frame? How has Netflix performed in this time frame? Select the single best available answer from those presented below. Group of answer choices

A) Experienced a massive loss of shareholders' equity; consumer spending for in-home movie viewing in the United States increased; revenues and subscribers have more than tripled.

B) Maintained a stable dividend; DVD sales increased; experienced their first Net income gains .

C)Experienced a massive loss of shareholders' equity; DVD sales increased; experienced Net income losses.

D) Maintained a stable dividend; consumer spending for in-home movie viewing in the United States increased; revenues and subscribers have more than tripled.

Assume you are doing a financial analysis for Kroger Inc. Here is one of the income statements that you analyze (all figures in $ Millions):

Based on your analysis of the income statements. What can be said about the progress. Which areas are improving? Sales increased from 2004 to 2005 yet net profit decreased . Why do you think they decreased net income in 2005 with higher sales. sales? 2006 seems to be better. What did the fix?

IFRS - Accounting Questions

Write journal entries for the following series of foreign currency transactions:

a. On September 18, 2003, when the yen was valued at 225 to the dollar, a U.S. firm purchased transistors from a Japanese firm, and agreed to pay 6,750,000 yen on November 15, 2003.

b. On October 26, 2003, the same firm purchased leather goods from a Mexican company, agreeing to pay 4 million pesos on December 15, 2003. On October 26, 2003, one peso was worth $.004.

c. On November 24, 2003, the U.S. firm sold ?375,000 worth of cotton to a British firm when the pound was worth $1.45. Payment was to be received on January 15, 2004.

d. The following exchange rates prevailed on the dates below: __________________________________________________________________

November 15, 2003……………………………………………….$1.00 = 200 yen

December 15, 2003……………………………………………… $1.00 = 275 pesos

December 31, 2003……………………………………….………..$1.48 = 1 pound

January 15, 2004………………………………………..........……$1.42 = 1 pound

1. On Feb 1 2019, ABC Co. traded in an old piece of equipment that originally cost $64,000 with a salvage value of $4000 and a useful life of 5 years for a new upgraded model that had a cash price of $80,000. The company uses straight-line depreciation and the original equipment was purchased on Feb 1, 2015.
A) Prepare the journal entry to record the exchange under the assumption that a $10,000 trade-in allowance was received and the balance was paid in cash. (B) Prepare the journal entry to record the exchange under the assumption that instead of a $10,000 trade-in allowance, a $15,000 trade-in allowance was received and the balance was paid in cash.

2. XYZ Co. Purchased a delivery van on January 1, 2000 for $80,000. At the time of purchased it was estimated that the van would be used for 8 years with a $20,000 trade-in value. On January 1, 2004 the company decided to revise the useful life to 10 years and revise the residual value to $15,000. Using straight-line depreciation, determine the book value on January 1, 2004 and the revised depreciation for 2004.

3. A, B, and C formed abc Consulting this year by making capital contributions of $250,000, $400,000, and $150,000, respectively. They anticipate annual loss of $200,000 and are considering the following alternative plans of sharing profits and losses:  
I. In the ratio of their initial investments; or
II. Salary allowances of $100,000 to A, $90,000 to B, and $50,000 to C and interest allowances of 15% on initial investments, with any remaining balance shared in the ratio of 3:2:1.  
Required:
1. Use the schedule to show how a loss of $200,000 would be distributed under each of the alternative plans being considered. (Round to the nearest dollar if needed.)

In 1993, Novak Company completed the construction of a building at a cost of $2,500,000 and first occupied it in January 1994. It was estimated that the building will have a useful life of 40 years and a salvage value of $76,000 at the end of that time.

Early in 2004, an addition to the building was constructed at a cost of $625,000. At that time, it was estimated that the remaining life of the building would be, as originally estimated, an additional 30 years, and that the addition would have a life of 30 years and a salvage value of $25,000.

In 2022, it is determined that the probable life of the building and addition will extend to the end of 2053, or 20 years beyond the original estimate.

(a)

Correct answer iconYour answer is correct.

Using the straight-line method, compute the annual depreciation that would have been charged from 1994 through 2003.

eTextbook and Media

List of Accounts

Attempts: 1 of 3 used

(b)

• Your Answer
• Correct Answer

Compute the annual depreciation that would have been charged from 2004 through 2022.

(c)

Correct answer iconYour answer is correct.

Prepare the entry, if necessary, to adjust the account balances because of the revision of the estimated life in 2021. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

eTextbook and Media

List of Accounts

Attempts: 1 of 3 used

(d)

Compute the annual depreciation to be charged, beginning with 2022. (Round answer to 0 decimal places, e.g. 45,892.)

?

ESSAY: This essay has to be 2 pages and writen in font size 12. and another page is a brief outline and sources citation

Topic; how integrity and individual decisions can affect other people, this topic can be refered from Sport area, Academic, Work experiences, Management

Reflecting in Nature

After hearing about different approaches to contemplation, inversion, and nature, address the following question: Why is nature helpful to leisure for philosophers?

Try to give an academic answer (cite a philosopher from at least one of the readings) and a personal reflection on this question from personal experience.