3.6 Revenue recognition with examples when goods are sold under sale or return There are cases when payments are received prior to events that trigger revenue recognition. In that case‚ cash is debited and the unearned revenue is credited. On the other hand‚ when revenue recognition is triggered before actual payment is received‚ accounts receivable is debited while revenue is credited (“Revenue Recognition Principle‚” 2013). Goods are sold under sale or return when they are “sent by the supplier
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The Private Movie Co.‚ Inc. v. Pamela Lee Anderson et al. 1. What are the facts? The Private Movie Company (Efraim) sued Pamela Lee Anderson for $4.6 million for walking away from oral and written contracts. The defendant (Anderson) claims to have agreed to the contracts on the stipulation that the script would be revised concerning nudity and simulated sex scenes‚ and upon reading the final script and seeing simulated sex scenes still included‚ walked out. 2. What is the legal issue? The
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Mazzagati v. Everingham‚ 512 Pa. 266 (1986). Facts: An automobile driven by Defendant fatally struck Plaintiff’s daughter. At the time of the accident‚ Plaintiff received a telephone call immediately after the collision at work informing her that her daughter had been involved in an automobile accident. Plaintiff arrived at the scene of the accident a few minutes later. Procedural Posture: Defendants filed a Motion for Summary Judgment in the nature of a Demurrer granted by the Montgomery County
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Maryland v. Shatzer‚ 559 U.S. 98 (2010) FACTS: In August of 2003 Detective Shane Blankenship‚ a social worker‚ was assigned to investigate and interview Michael Shatzer about claims that Shatzer had sexually abused his three year old son. At the time of the investigation Shatzer was incarcerated at Maryland Correctional Institution-Hagerstown for an unrelated child-sexual abuse offense. Before asking Shatzer any questions‚ Detective Blankenship informed Shatzer of his rights‚ Shatzer then obtained
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Brandon Campo 3/8/2012 BUSN 320 Word Count 392 Maximizing Shareholder Wealth The goal of a firm and a financial manager should involve maximizing the wealth of a firm’s shareholders through achieving the highest possible value for the firm (Block 13). It is a vital task to oversee properly as a financial manager‚ and while the manager cannot directly control the firm’s stock price‚ it can act consistently with the desires of the shareholder. Accounting‚ financial and other irregularities
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Name: N Lab 1: Leaf Lab Date: 4/13/13 Assignment 1 Questions 1. Based on what you already know about photosynthesis‚ develop a testable hypothesis to explain the influence of an increase in light intensity on the photosynthetic rate in tomato leaves. 2. What is the relationship between an increase in light intensity and photosynthetic rate in tomato leaves? Does this relationship support the hypothesis that you formulated? As light intensity increases then the rate of photosynthesis
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Case 09-1: Velocity Cellular Page 1 D I S C U SS I O N M A T E R I A L S O b j e c t i v es o f t h e C a se This case gives students the opportunity to use accounting and auditing literature and professional judgment to research complex accounting issues effectively and efficiently. Specifically‚ students will be able to: Understand the application of the guidance in ASC 605-25‚ as amended by ASU 2009-13‚ to complex multiple-deliverable arrangements. Understand the application of the
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Easter 1916 Analysis by William Butler Yeats In this stanza Yeats describes the people‚ or "vivid faces"(2)‚ he sees in everyday life. They are insignificant to Yeats as individuals‚ however each of them shares a certain bond with him. They are all united in a fight for their homeland of Ireland. In lines 6 and 8‚ Yeats states that all he says to the people on the street are "polite meaningless words"(6). The fact that what he says to these people is always meaningless‚ shows how insignificant
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deposit custome of Springfield National Bank; since the years Dawson Sr. managed the company. Dawson Jr. is now requesting an unsecured line of credit of $1‚000‚000 for one year term. To support the company’s application‚ Mr. Dawson Jr. submitted the financial statements to the bank for the last four years. When Stefanie Anderson‚ the loan officer‚ received the financial statements along with previous bank records and she found the follow information: The deposit accounts at Springfield National Bank
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Answer: The first approach Sandel presents is Maximizing Welfare. “Much contemporary political debate is about how to promote prosperity‚ or improve our standard of living‚ or spur economic growth.” Maximizing welfare is individualistic; most people are wired to want what is best for them- and sometimes others because they believe “prosperity makes us better off than we would otherwise be”. An example of poor moral judgment in reference to maximizing welfare is the treatment of armed forces veterans
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