Determining how Assets, Liabilities, Shareholders Equity, Revenue, Expense, and Net Income are understated, overstated, or not affected by a company's action.

Example:

1. A company did not record a sale made on account for services that have been provided.

2. The amount of cash a customer paid for a sale previously made on credit was understated.

3. The value of inventory purchased on account was understated.

4. Our company recently purchased inventory. The purchase of the inventory was recorded correctly; however, the cost of shipping the inventory was not recorded. The company paid cash for the shipping expense.

I would appreciate if you could teach me how to do this. Thank you!

Grouper Corporation had net sales of $2,427,000 and interest revenue of $31,500 during 2017. Expenses for 2017 were cost of goods sold $1,461,400, administrative expenses $212,500, selling expenses $296,600, and interest expense $50,800. Grouper’s tax rate is 30%. The corporation had 104,800 shares of common stock authorized and 73,590 shares issued and outstanding during 2017. Prepare a condensed multiple-step income statement for Grouper Corporation

Concord Publishing House, Inc. vs. Director of Revenue

(1) In Concord Publishing, the court construed the statute as exempting from sales and use tax "machinery and equipment" (a) used directly (b) in manufacturing (c) a product which is intended to be sold ultimately for final use or consumption (d) if the machinery or equipment was purchased to replace existing equipment or to expand existing manufacturing.

What could be the legislative purpose behind these conditions?

(2) What is a resale exemption? How far must a vendor go in verifying its customer's assertion that it is purchasing goods for resale?

(3) Can a use tax (complementary tax to sales tax) apply to a broader set of transactions than those to which the sales tax applies?

(4) Are exemptions or exclusions applicable to the sales tax also applicable to the use tax?

(5) What is the purpose of the Streamlined Sales and Use Tax Agreement? What are the SSUTA sourcing rules for sales and use tax?

For each of the following independent situations, answer the specific revenue concerns (provide authoritative support where appropriate).

1)        Company A enters into a contract on February 1, 2018 to manage rental property for Company B for the next 5 years. Company A will provide all services related to the management of the property and will receive a monthly payment equal to 2% of the gross rentals from the property. Historically, property of this type in this area has averaged an 85% occupancy rate. How should Company A determine the amount and timing of revenue recognition under this contract?

2)        Company A is constructing a high-rise luxury apartment building. The building will contain 80 apartments of similar size and layout. During 2018, Company A receives a deposit of $100,000 from a customer for one of the apartments. The deposit is only refundable if Company A fails to complete the building. Company A expects completion early in 2019. The remainder of the apartment’s sale price ($900,000) is due from the customer at the completion of the building when the customer can take possession. Can Company A recognize revenue in 2018 related to the contract with the customer paying the deposit?

3)        Bakery A has an incentive plan that gives its customers one point for each doughnut purchased. A customer that has accumulated 15 points can receive a free doughnut. During the current year, Bakery A sold 201,600 doughnuts at $1.20 each. Bakery A expects 90% of the points to be redeemed and 105,000 were redeemed in the current year. How much revenue should Bakery A recognize in the current year related to the sale of the doughnuts and the incentive plan?

4) Assume that revenue is $180 million, cost of goods sold is $50 million, total assets are $800 million and inventories are $80million. On the common size statements, inventories would have an approximate value of ___ and cost of goods sold would have an approximate value of ___

can i get an article related to finance ( auditing, inventory management, revenue or asset management) and 1 page summary related to the article. Eg. Article like Investing in start ups.

the article should be current one.

• What does
  • Business Model: Key Revenue Streams

mean when writing a business plan?

Accrual accounting matches revenue with expenses, however accruals can be used to manipulate income and expenses. In the Forbes Magazine article, “Cash Doesn’t Lie,” written by Daniel Fisher, the author discusses the use of negative accruals, changes to estimates and recognizing income before it is earned. Read the article and then:

a. Discuss the use of each of these three techniques and their effect on current and future earnings reporting.
b. How should changes of accounting estimates that significantly affect income be reported? Should they be regarded as a change in accounting principle?
c. Research revenue recognition and discuss the accounting rules violated that brought down the company Sunbeam.

PLEASE PROVIDE NEW DETAIL ANSWERS TO EACH QUESTION AND PLEASE NO HAND WRITTEN ANSWERS.

Your company, Dominant Retailer, Inc., is considering a project whose data are shown below. Revenue and cash operating expenses are expected to be constant over the project's 5 year expected operating life; annual sales revenue is $95,000.00 and cash operating expenses are $37,500.00. The new equipment's cost and depreciable basis is $135,000.00 and it will be depreciated by MACRS as 5 year property. The new equipment replaces older equipment that is fully depreciated but can be sold for $7,500. In addition, the new equipment requires an additional $5,000 of net operating working capital, which can be fully recovered at the end of the project. The new equipment is expected to be sold for $10,995 at the end of the project in year 5. The marginal tax rate is 28.00%. What is the project's Initial Cash Outlay at Year 0?  Note:  Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12,300.456 then enter as 12300.46 in the answer box.

Using the information from problem 2 on Dominant Retailer, Inc., what is the NPV of the Project if Dominant Retailer’s WACC is 12.75%? Enter your answer rounded to two decimal places. Do not enter $ or comma in the answer box. For example, if your answer is $12,300.456 then enter as 12300.46 in the answer box.

Compare price taker firms with price searcher firms in terms of marginal cost and marginal revenue. How would each type firm use those concepts in decision making?