Questions
What economic factors contribute to the high cost of healthcare in the US? What are instances...

What economic factors contribute to the high cost of healthcare in the US? What are instances of economic failure that have contributed to this cost escalation? What should we do about them?

In: Economics

As a Compliance Officer, you are considered a leader in your organization. How can you contribute...

As a Compliance Officer, you are considered a leader in your organization. How can you contribute to making the employees feel safe? Please respond in terms of your compliance course materials.

In: Operations Management

what are the organization's responsibility to make the workplace legal & ethical as well as have...

what are the organization's responsibility to make the workplace legal & ethical as well as have a stated mission to contribute to societal goals? Write a well-developed answer

subject Human resource management

In: Operations Management

Does the creative strategy (e.g., the Big Idea) contribute to campaign legs? If so, how? How...

Does the creative strategy (e.g., the Big Idea) contribute to campaign legs? If so, how? How about the media strategy? Which one is more important, do you think?

In: Operations Management

Kinney’s Repair Ltd. was started on May 1. A summary of May transactions is presented below....

Kinney’s Repair Ltd. was started on May 1. A summary of May transactions is presented below.

1. Shareholders invested £15,572 cash in the business in exchange for ordinary shares.
2. Purchased equipment for £5,309 cash.
3. Paid £248 cash for May office rent.
4. Paid £370 cash for supplies.
5. Incurred £273 of advertising costs in the Beacon News on account.
6. Received £4,133 in cash from customers for repair service.
7. Declared and paid a £1,518 cash dividend.
8. Paid part-time employee salaries £1,113.
9. Paid utility bills $144.
10. Performed repair service worth £1,040 on account.
11. Collected cash of £121 for services billed in transaction (10).

Prepare a tabular analysis of the transactions. Revenue is called Service Revenue. (If an amount reduces the account balance then enter with a negative sign preceding the number e.g. -15,000 or parenthesis (15,000).)

From an analysis of the Retained Earnings columns, compute the net income or net loss for May.

In: Accounting

QUESTION 4 Part IV: Background        On January 10, KH sold a mixer it purchased from MU...

QUESTION 4

  1. Part IV:

    Background       
    On January 10, KH sold a mixer it purchased from MU for $80 cash and delivered it to a customer. KH has a 45-day return policy under which a customer can exchange a product for another product of the same type, quality, condition and price. The exchange policy requires that all returned products must be like new. Based on extensive historical experience, KH estimates that 2% of its products will be exchanged by customers for another product of the same price, condition, quality and type. KH estimates the cost of recovering any products will be insignificant. KH does not record any potential volume discounts until they are earned.  
    Requirements
    ►      Prepare a detailed explanation of each of the five steps of revenue recognition. Record all initial accounting entries for MU for January 10 based on guidance on revenue recognition in ASC 606. Include references to the guidance to support your proposed accounting. Show any calculations you make to support your journal entries.

In: Accounting

Talia’s Tutus is considering purchasing a new sewing machine. The old machine it has right now...

Talia’s Tutus is considering purchasing a new sewing machine. The old machine it has right now was bought 2 years ago for $30,000, with an assume life of 5 years and an assume salvage value of $5,000. The firm uses straight-line depreciation. The old machine can be sold for $25,000. The new machine can be purchased today for $40,000. The new machine will have a 5-year life and will be depreciated to $5,000 using straight-line depreciation. With the new sewing machine, the firm is expected to have additional revenue of $15,000 for each of the next five years. The variable cost is 40% of the revenue, and the fixed cost is $3,000 each year. Suppose Talia’s Tutus allows its customers to pay their bills with an average 3-month delay, and its inventories are 15% of next year’s expense. If the opportunity cost of capital is 12%, corporate tax rate is 35%, and capital gain tax is 15%, what are the project’s NPV and IRR? please post step by step

In: Finance

Consider two manufacturing companies of electrical devices with identical business fundamentals. Everything is the same for...

Consider two manufacturing companies of electrical devices with identical business fundamentals. Everything is the same for these two companies (same operations, same economic fundamentals, same suppliers, same customers and same managers). The only difference is in the way the two companies choose to report their
financials.
Company A follows a conservative financial reporting strategy by choosing accounting policies that report the lowest revenue and assets and the highest expense and liabilities.
Company B follows an aggressive financial reporting strategy by choosing accounting policies that report the highest revenue and assets and the lowest expense and liabilities.
Required:
(a) Explain how you can discover information that one company is being conservative in financial reporting and the other company is being aggressive in
financial reporting. You are required to give specific examples that are directly relevant to the context of these two companies being manufacturing companies of electrical devices.
(b) Explain how you could use this newly discovered information that a company is conservative or aggressive in reporting in active investing.

In: Accounting

Problem 1-1A Fredonia Repair Inc. was started on May 1. A summary of May transactions is...

Problem 1-1A

Fredonia Repair Inc. was started on May 1. A summary of May transactions is presented below.

1. Stockholders invested $15,500 cash in the business in exchange for common stock.

2. Purchased equipment for $5,500 cash.

3. Paid $200 cash for May office rent.

4. Paid $600 cash for supplies.

5. Incurred $300 of advertising costs in the Beacon News on account.

6. Received $5,000 in cash from customers for repair service.

7. Declared and paid a $1,000 cash dividend.

8. Paid part-time employee salaries $1,000.

9. Paid utility bills $140.

10. Performed repair services worth $990 on account.

11. Collected cash of $140 for services billed in transaction (10).

Part 1.

Prepare a tabular analysis of the transactions. Revenue is called Service Revenue.

Part 2.

From an analysis of the Retained Earnings columns, compute the net income or net loss for May.

In: Accounting

Anderson (40% of profits and losses) $ 40,900 Berry (10%) 12,000 Hammond (20%) (38,000 ) (deficit)...

Anderson (40% of profits and losses) $ 40,900
Berry (10%) 12,000
Hammond (20%) (38,000 ) (deficit)
Winwood (30%) (42,000 ) (deficit)

a. If both Hammond and Winwood are personally insolvent, how much money must Berry contribute to this partnership?

b-1. If only Winwood is personally insolvent, how much money must Hammond contribute?

b-2. If only Winwood is personally insolvent, how will Hammond's contribution (funds) be disbursed?

c. If only Hammond is personally insolvent, how much money should Anderson receive from the liquidation?

a. Berry's contribution
b-1. Hammond's contribution
b-2. Creditors
Anderson
Berry
c. Anderson should receive

In: Accounting