Presented below is information related to Kingbird Company.

Cost

Retail

Beginning inventory

$186,032$281,000

Purchases

1,393,0002,147,000

Markups

93,500

Markup cancellations

15,100

Markdowns

37,000

Markdown cancellations

4,500

Sales revenue

2,236,000

Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.)

Dean Foods is one of the largest dairy food manufacturers in US. The main problem the company is facing is that due to competition from retailers, their milk supply has decreased in revenue by a huge percentage.

List how each of Porter's 5 Forces relate to Dean Foods' situation. What solutions can you recommend Dean Foods can do based off of Porter's 5 Forces analysis?

1.) Explain the process of stock redemption.

2.) Why do non-corporate shareholders prefer stock redemptions to qualify for sale treatment? (tax implications)

3.) Describe the difference between liquidating and non-liquidating distributions from a partnership.

4.) The primary purpose of taxation is to create revenue for the federal government. What are three secondary purposes?

5.) What is the purpose of Domestic Production Activities Deduction (DPAD)?

Decentralized Activities

Differential Analysis and Product Pricing. Decentralized Operations is when decision making and authority is transferred to subunits of the company. This is the difference in revenue and expenses between different products. Please choose a company which produces more than one product. Take at least two of these products and discuss the different costs between these two products which may make one more profitable than the other.

Enumerate and briefly explain the differences between the IFRS and US GAAP on the following issues:

Treatment of Contingent Assets and Liabilities

Treatment of Asset Recognition

Treatment of Revenue Recognition

Treatment of Options

Treatment of Onerous Contracts

Treatment of Restructuring Provision

Treatment of Measurement of Deferred Taxes

Treatment of Service Contracts

Treatment of Financial Assets

International Accounting (Loose-Leaf) 5e (Doupnik/Perera) McGraw-Hill (2019) 9781260466539.

Consider the following 2016 data for Newark Hospital (in millions of dollars)

a. Calculate and interpret the two profit variances

b. Calculate and interpret the two revenue variances.

c. Calculate and interpret the two cost variances.

d. how are the variances related

Answer a-d.

Calculates the tax benefits of switching the business to a s corporation for each of the stakeholders involved and the business entity

For a s corporation lets say the company Is worth $100 million dollars and $17.5 million in revenue.

Bob owns 50% of the company

Mark owns 20% of the company

Tony owns 25% but his selling his portion of the company

Steve owns 5 %

tax benefits of switching the business to a s corporation?

5. There are two kinds of third-party payers; private insurers or public insurers. Describe the two and give examples of each.

7. Understand the similarities and differences between different reimbursement methods, such as fee-for-service reimbursement and capitation.

8. Explain the difference between cash accounting and accrual accounting. How are the revenue recognition and matching principles related?

9. What is the difference between operating and net income?

Calculate and report and valid present worth measures using the listed interest for all the three options given below. What is the name of the best option economically?

From the perspective of a bureaucrat, which government accounting method (Cash Basis, Modified Accrual or Full Accrual) is more feasible for each revenue source? Explain your response.

1. State Income Taxes   D. Motor Fuel Taxes          G. Gaming Fees (casinos)
2. Public Utility Fees    E. Licenses and Fees          H. Block Grants
3. Donations                 F. Sales Taxes                     I. Property Taxes