Eureka Design Bhd entered into a contract to deliver one of its fixtures and fittings to Creative Landscaping Bhd on 1st July 2020. The contract requires Creative Landscaping to pay the contract price of RM30,000 in advance on 15th July 2020. Creative pays Eureka on 15th July 2020 and Eureka delivers the fixtures and fittings (with cost of RM19,000) on 31st July 2020.
Required:
i) Explain the 5-step of revenue recognition as outlined in MFRS 15 Revenue from Contract With Customers.
ii) Prepare the journal entry on 1st July 2020 for Eureka Design Bhd.
iii) Prepare the journal entry on 15th July 2020 for Eureka Design Bhd.
iv) Prepare the journal entry on 31st July 2020 for Eureka Design Bhd.
In: Accounting
The following month of April (30 days) financial information was reported by three furniture building companies. Calculate the cash-to-cash cycle time for each of the following furniture building companies: Craig Custom Couch Builders, Tom's Tables, and Jefferson Emerald Design. Which company managed its cash flow best in April?
|
Net Revenue |
Cost of Revenue (%) |
Raw Goods Inventory |
WIP Inventory |
Finished Goods Inventory |
Account Receivable |
Accounts Payable |
|
|
Craig Custom Couch Builders |
11000 |
0.8 |
540 |
268 |
280 |
2680 |
4100 |
|
Tom's Tables |
18000 |
0.75 |
680 |
140 |
600 |
3210 |
3200 |
|
Jefferson Emerald Design |
8000 |
0.85 |
240 |
200 |
180 |
2200 |
2400 |
In: Finance
On January 1, 2020 the Walker Manufacturing Company purchased 10% bonds having a maturity value of $100,000 due in 5 years. The bonds pay interest every January 1st. Walker paid a premium for the bonds in the amount of $7,985.10. As a result of paying the $7,985.10 premium, the bond investment provides Walker with an 8% yield. Required:
Prepare journal entries for the following dates:
1. January 1, 2020 when the bonds were purchased.
2. December 31, 2020 to record interest revenue and amortization.
3. January 1, 2021 to record the interest payment being received.
5. December 31, 2021 to record interest revenue and amortization.
5. January 1, 2022 to record the interest payment being received.
In: Accounting
In: Economics
Using a series of data collected quarterly (20 years), XYZ University has modelled the demand and supply function of their program offering as below:
Qd = 16,000 - 4000P
Qs = -9,000 + 6000P
Note: P is fees (,000) per subject
b. At the current equilibrium fees, the government believes that poor people deprive of a good education, and hence, enforce that the university should only charge the fees at RM 2,000 per subject.
i. Based on the above scenario, plot the graph to show the new interactions. [5 marks]
ii. How much is the revenue? [5 marks]
iii. Has the revenue increased or dropped after the intervention and by how much? [5 marks]
I need the answer for b i ?
In: Economics
For this learning activity, use the “MailCampaign.xlsx” file. Use the Goal-Seek tab. Perform a goal-seek analysis that shows the average order size necessary to break even (i.e., have a net income of zero).
| Mailing Campaign Analysis | ||||
| Costs | Mailing inputs | |||
| Printing | 24,000.00 | Fixed cost of printing | 10,000 | |
| Mailing | 14,000.00 | Variable cost for printing | 0.10 | |
| Total Costs | 38,000.00 | Variable cost for mailing | 0.28 | |
| Number of catalogs mailed | 50,000 | |||
| Net order revenue | ||||
| Revenues | 220,000.00 | Responses and orders | ||
| Variable costs | 176,000.00 | Response rate | 0.08 | |
| Net revenue | 44,000.00 | Average order | 55 | |
| Order processing costs (%) | 15% | |||
| Net income | 6,000.00 | Cost of goods sold (%) | 65% | |
In: Finance
In: Finance
please state if the following is recorded in income statement or balance sheet
| Rug Cleaner |
| Accounts payable |
| Accounts Receivable |
| APIC-Common stock |
| Bank charges |
| Bank Loan payable |
| Cash |
| Cleaning Supplies |
| Cleaning Supplies inventory |
| Common Stock |
| Computer |
| Discount on Notes payable |
| Dividned expense |
| Employee tax withheld |
| employee tax withholding account |
| Employer tax payable |
| Gas and oil expenses |
| Mercandise Inventory |
| No entry required |
| Notes payable |
| Paid up capital |
| Patents and Rights |
| Payroll taxes |
| Prepaid Insurance |
| Prepaid Rent |
| Purcahse Discount |
| Salaries & wages expenses |
| Short-term Investment (Available For Sale) |
| Tax payable |
| Unearned Service Revenue |
| (blank) |
| Equipment |
| Sales Revenue |
In: Accounting
Telemedicine
Telemedicine has become progressively important, since there is an increased demand for chronic diseases treatment. Nowadays, with this advance technology, doctors can provide consultations to patients using FaceTime or Skype on mobile devices. Moreover, they are also able to access medical examination reports from database and send prescriptions to patients’ pharmacies, without meeting the patients face to face. However, telemedicine is still at the beginning stage with only $200 million of revenue yearly. According to healthcare experts, they predict telemedicine will increase annual revenue to $2 billion for a few years down the road.
Question 1 [15 marks - NOT more than 200 words] To marketers, what role has mobile technology played in evolution of this industry? Explain.
In: Operations Management
Fairfax Paint operates stores in Virginia. The firm is evaluating the Vienna project, which would involve opening a new store in Vienna. During year 1, Fairfax Paint would have total revenue of 357,000 dollars and total costs of 215,000 dollars if it pursues the Vienna project, and the firm would have total revenue of 298,000 dollars and total costs of 182,000 if it does not pursue the Vienna project. Depreciation taken by the firm would be 60,000 dollars if the firm pursues the project and 28,000 dollars if the firm does not pursue the project. The tax rate is 25 percent. What is the relevant operating cash flow (OCF) for year 1 of the Vienna project that Fairfax Paint should use in its NPV analysis of the Vienna project?
In: Finance