What benefit does this restatement provide to external users
Why do you think GAAP requires restatement of prior financial statements if there is a change in reporting entity? What benefit does this restatement provide to external users such as investors?
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Sandlewood Company has 15,000 units of its sole product that it produced last year at a cost of $43 each. This year's model is superior to last year's and the 15,000 units cannot be sold for their regular selling price of $80 each.
The company's past records show collection of credit sales as 60% in the month of sale and the balance in the following month. If inventory units are sold for $25, the total cash collections in November will be what?
The required volume of output to produce the motors will not require any incremental fixed overhead. Incremental variable overhead cost is $21 per motor.
A sales budget has been prepared for June. Management wants the amount of ending inventory each month to be equal to 10% of the next month's cost of goods sold.
On January 1, 2006, Sooner or Later Inc. granted 1,000 "at-the-money" employee stock options. To align the compensation of the employees with the financial performance of the company.
Using the double-declining-balance depreciation method, calculate the depreciation expense for the year ended December 31, 2012, and the net book value of the machine at that date.
Choose two competitor companies of your choice that are U.S. GAAP publicly traded companies. Determine and compare their net profit margin and debt to asset ratio for the most recent year reported. Interpret the information and support your answer
The customer would like modifications made to product Y45 that would increase the variable costs by $8.10 per unit and that would require an investment of $20,000 in special molds that would have no salvage value.
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