Discuss the evolution of the income statement found
Discuss the evolution of the income statement found in the annual report of a firm, to the forms that can be used in managerial decision making. INclude the organizing principle in each case (cost element)
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Debate the necessity of preparing formal financial statement if all of the data are in the statement columns of the worksheet. Speculate as to the reasons why this has become common practice.
Invoice price of goods is $3500. Purchase terms are 3/10,n/30 and the invoice is paid in the week of reciept. The shipping terms are FOB shipping point ,and the shipping cost amount to $330.00.
Kile Company borrows $63,359 on July 1 from the bank by signing a $63,359, 8%, 1-year note payable. Prepare the journal entries to record (a) the proceeds of the note.
Assuming that a company has $365 million in annual sales, and a gross margin of 20%, how much investment will each additional day ofsales in inventory require?
The Whitton Company uses a discount rate of 16%. The company has an opportunity to buy a machine now for $18,000 that will yield cash inflows of $10,000.
Having in mind the company's relationship between receivables and cash, the influence of liquidity and solvency and they affect competitiveness.
How would you make sure a payment is actually for what it was stated for?How would you make sure the payment is legit?Would you perform vouches? or would vouching be only for documents.
Inventory costs are rising, which method (FIFO, LIFO, or weighted average cost) results in the highest net income? Which results in the highest inventory balance?
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