Alsup Consulting sometimes performs services for which it receives payment at the conclusion of the engagement, up to six months after services commence. Alsup recognizes service revenue for financial reporting purposes when the services are performed. For tax purposes, revenue is reported when fees are collected. Service revenue, collections, and pretax accounting income for 2015–2018 are as follows:

Alsup Consulting sometimes performs services for which it receives payment at the conclusion of the engagement, up to six months after services commence. Alsup recognizes service revenue for financial reporting purposes when the services are performed. For tax purposes, revenue is reported when fees are collected. Service revenue, collections, and pretax accounting income for 2017–2020 are as follows:

There are no differences between accounting income and taxable income other than the temporary difference described above. The enacted tax rate for each year is 40%.

(Hint: You may find it helpful to prepare a schedule that shows the balances in service revenue receivable at December 31, 2017–2020.)

Required:
1. Prepare the appropriate journal entry to record Alsup's 2018 income taxes, Alsup’s 2019 income taxes and Alsup’s 2020 income taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands.)

Carlisle State College had the following account balances for the year ended and as of June 30, 2018. Debits are not distinguished from credits, so assume all accounts have a “normal” balance.

Required

Prepare, in good form, a Statement of Revenues, Expenses, and Changes in Net Position for Carlisle State College for the year ended June 30, 2017.

PLEASE DO IN EXCELL AND START WITH OPERATING REVENUES.

From the following models - subscriptions (usually all you can eat), a la carte (pay for what you use) and “freemium” (uses advertising revenue to provide content for free), make TWO recommendations on ways to start generating more revenue via the eCommerce website.

6. Elasticity and total revenue

The following graph shows the daily demand curve for bikes in San Diego.

Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve.

Note: You will not be graded on any changes made to this graph.

Units Demanded: Q = 500-40P Total Cost = 300 + Q Price Per Unit = 6 Find: Q, Revenue, and Profit Negative Externality Unit Cost = 2 Recalculate Revenue and Profit if Costs are Internalized and i) passed on to consumers, or they are ii) absorbed by the firm.

1.Discuss what was viewed as the major criticisms of Generally Accepted Accounting Principles as it relates to Revenue Recognition. In addition, identify the five steps in the revenue recognition process.

2. Discuss how companies satisfy a performance obligation? In addition, identify the indicators of satisfaction of a performance obligation.

If demand for the price searching-firm (e.g. monopoly) is q=20-p and total cost is 2+4q^2.
A)Compute the marginal revenue function. To check it what is marginal revenue from selling 4 units of output?

B)What is the profit for this price searching firm?

Auditing - Fraud through Misappropriation of Assets or Fraudulent financial reporting

State one type of fraud that can occur for the accuracy objective of provision for warranty (liability account)

State one type of fraud that can occur for the sales occurrence objective of sales revenue (revenue account)

1. What would the regression output (analysis) look like using this multiple regression equation and the following data?

Daily Gross Revenue= total daily income+b1*daily tour income+b2*number of tourists+b3*Friday+b4*Saturday

2. What's the multiple regression equation with the numbers from the output?