write 250 word's the concept of quality with the revenue service center

Presented below is the income statement of Cowan, Inc.:

         Sales revenue                                                                        $380,000

         Cost of goods sold                                                                 225,000

         Gross profit                                                                             $155,000

         Operating expenses                                                                   95,000

         Income before income taxes                                                      60,000

         Income taxes                                                                              24,000

         Net income                                                                             $ 36,000

In addition, the following information related to net changes in working capital is presented:

                                                                                                              Debit                  Credit

         Cash                                                                                         $12,000

         Accounts receivable                                                                   25,000

         Inventories                                                                                                              $19,400

         Salaries payable (operating expenses)                                        8,000

         Accounts payable                                                                                                     14,000

         Income taxes payable                                                                  3,000

The company also indicates that depreciation expense for the year was $16,700 and that the deferred tax liability account increased $2,600.

Instructions

Prepare a schedule computing the net cash flow from operating activities that would be shown on a statement of cash flows:

(a)   using the indirect method.

(b)   using the direct method.

Presented below is the income statement of Cowan, Inc.:

         Sales revenue                                                                         $380,000

         Cost of goods sold                                                                    225,000

         Gross profit                                                                             $155,000

         Operating expenses                                                                    95,000

         Income before income taxes                                                      60,000

         Income taxes                                                                              24,000

         Net income                                                                             $ 36,000

In addition, the following information related to net changes in working capital is presented:

                                                                                                              Debit                     Credit

         Cash                                                                                          $12,000

         Accounts receivable                                                                   25,000

         Inventories                                                                                                              $19,400

         Salaries payable (operating expenses)                                        8,000

         Accounts payable                                                                                                     14,000

         Income taxes payable                                                                  3,000

The company also indicates that depreciation expense for the year was $16,700 and that the deferred tax liability account increased $2,600.

Prepare a schedule computing the net cash flow from operating activities that would be shown on a statement of cash flows:

(a)   using the indirect method.

(b)   using the direct method.

As the engagement Senior, you are responsible for completing the audit of the revenue cycle for Best City, a specialty retailer of consumer electronics, home office products, entertainment software, appliances and related services.

Best City (BC) is headquartered in Richmond, VA with over 450 retail outlets across the Eastern and Midwestern United States. The Company operates retail stores and successful websites under the brand names Best City and BC (www.BestCity.com and www.BC.com). Total sales for the fiscal year ending 12/31/16 were $5.4 billion; $4.3 billion were generated by its retail stores, while $1.1 billion were generated by its e-commerce websites.

Unfortunately, as part of year-end cut-off testing, you notice a few potential “red flags” for fraud within some of the website sales transactions that you believe should be reported to the audit manager and partner.

REQUIRED: Please briefly discuss any “red flags” for fraud within the following documents (including the type of fraud scheme suggested by each “red flag”).

NOTE: Assume no sales tax is charged for online sales.

INSTRUCTIONS: Complete the statement in proper form. Revenue will be provided in an announcement at the end of Module 4 (based on actual number of services for your pricing levels). Additional information necessary to complete the income statement: General and Administrative Salaries paid = $1,200 Advertising = $100 Cleaning Products = $120 Depreciation = $83 Rent = $650 Loan = $420 Utilities and Insurance = $600 Quintinn's Furry Beasts Pet Co. Income Statement For the Month Ended January 31, xxxx Revenue: Grooming $- Day Care - Boarding - Total Revenue $- Cost of Goods Sold * - Gross Profit $- Expenses: G&A Salaries $- Advertising - Cleaning Products - Depreciation - Rent - Loan - Utilities and Insurance - Total Expenses $- Net Income / Loss $- * Cost of Goods Sold = Cost of Services (COS) There is no finished goods inventory to maintain. Quintinn's Furry Beasts Pet Co. Statement of Cost of Services For the Month Ended January 31, xxxx Beginning Work-in-Process Inventory $- Direct Materials: Materials - Beginning $- Add: Purchases for month of January 5,000 Materials Available for Use $5,000.00 Deduct: Ending Materials 3,000 Materials Used $2,000.00 Direct Labor 6,240 Factory Overhead 2,800 Total Manufacturing Overhead $11,040.00 Deduct: Ending Work-in-Process Inventory - Cost of Services $11,040 Grooming price $25 4 grooms per day Kennel price $25 12 dogs per day Daycare price $18 22 dogs per day

List indicators that a company may be an agent, not a principal, in a revenue transaction and explain the significance of this relationship in revenue recognition.

Can increasing revenue overcome an increase in the percentage of food cost?

Provide a breakdown of a banking institution's sources of revenue and categories of expenses.

Q4. What is the y/y revenue trend? in apple company