Starbucks Access the Internet to acquire a copy of the most recent annual report for the publicly traded company used to complete the Financial Reporting Problem‚ Part 1 assignment due in Week Six. Analyze the information contained in the company’s balance sheet and income statement to answer the following questions: •Are the assets included under the company’s current assets listed in the proper order? Explain your answer. The current assets should be listed in the order of liquidity. The
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1. On January 1‚ 2012‚ Revenue Company sold specialized computers costing P760‚000 to Income‚ Inc. for P990‚000. Revenue Company’s trainers present numerous training sessions for Income’s employee during the installation period. Income made a 50% down payment‚ with the balance due upon completion of installation. How much revenue should Revenue Company recognize on its books on January 1‚ 2012? a. P990‚000 b. P760‚000 c. P495‚000 d. P-0- 2. SAMpple Company is an experienced home appliance
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4. +1‚200 3-6 +10‚000 +5‚000 +5‚000 +1‚200 LO 1 Analyze the effect of business transactions on the basic accounting equation. Accounting Accounting Transactions Transactions Event (5). On October 3‚ Sierra received $10‚000 in cash from Copa Company for guide services performed. 1. +10‚000 2. +5‚000 3. -5‚000 4. +1‚200 5. +10‚000 3-7 +10‚000 +5‚000 +5‚000 +1‚200 +10‚000 LO 1 Analyze the effect of business transactions on the basic accounting equation. Accounting Accounting Transactions
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Lerriuqs is the owner of Awree Natcacnotus Inc. The company‚ which operates under US GAAP‚ buys and resells electronics throughout the Pacific Northwest‚ and its fiscal year runs from January 1 to December 31. Its first year of operations was 2011. The Company has one owner‚ Lerriuqs‚ and financial statements and adjustments are prepared only at the end of the year. The accountant has resigned and Lerriuqs has hired you to help with the business’s December transactions and preparation of Financial
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question stated that when a Trial Balance balances‚ it means the accounts are free of errors. I disagree with the statement. There may still be errors even if the trial balance is balances. There are six types of errors. The first type of error is the “error of omission” and the word omission mean left out. Its mean that a transaction is not recorded in the books of original entry‚ which mean both the debit and credit effects of the transaction are not shown in the Trial Balance. For example‚ a transaction
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NIKE COMPANY ANALYSIS Word count: 2856 Table of Contents INTRODUCTION/ COMPANY BACKGROUND This report examines NIKE Inc. one of the leading sports brand in the world. It uses business analysis techniques such as SWOT‚ PESTEL‚ Porter’s five forces‚ and Ratio analysis to analyse the business environment and performance of this company. NIKE Inc. is one of the world’s biggest sporting brand based in Oregon USA. Founded in 1968‚ NIKE is the world’s biggest
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800 ______ 11. Salaries Payable 800 Cash 800 ______ 12. Accounts Receivable 600 Service Fees Earned 600 PROBLEM 3-2C Gary Company follows the practice of recording prepaid expenses and unearned revenues in balance sheet accounts. Gary’s annual
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Happiness is found in Celebrating Others” This is Jenna Solis’ life mantra. One of her gifts is acts of “Service” and supporting the needs of others. Another‚ is her creative eye for all things “Beautiful” and “Fabulous”. Jenna is currently taking strides in making some of her personal dreams a reality. As a passionate leader within the First Calvary Baptist Church H.Y.P.E Ministry‚ Jenna realized that her love for adolescent growth and empowerment‚ was something that should be shared with children
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September 11 On Tuesday‚ September 11‚2001 the unthinkable happened in America. The World Trade Centers in New York City and the Pentagon in Washington D.C were struck by airplanes that were hijacked by terrorists. This terrible tragedy killing many people had deep impact on the whole American citizens are grief stricken‚ left in fear‚ and full of revenge to the people who committed such an awful thing. September 11‚2001 is the most tragic hour in the history of the United Sets‚ this terror
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defined-benefit pension funds use a lower interest rate to calculate the PV of their expected future liabilities. This lower discount factor would make pension funds look more insolvent. T 2. Life insurance companies typically have greater liquidity risk than property-casualty insurance companies. 3. Bank regulators can discourage moral hazard by requiring banks to maintain greater capital levels. 4. Securitization enables mortgages to be financed by outside investors--who now earn mortgage
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