Accounting decisions Case: Accounting at MacCloud winery Methodological note We want to distinguish between Economic “facts/data” – No need to discuss them – Taken for granted Accounting “issues” – The topic of our discussion – We will follow the order of the case questions Accounting at McCloud Winery The MacCloud winery 5 acres of land One building Accounting at McCloud Winery 1: The building Worth $32‚000 Leased for 10 years for $5‚000 per year How
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Midterm Exam Accounting at MacCloud Winery 1. The leased building will be accounted as an asset and the agreement to pay lease rentals be recorded as a lease liability. Accordingly‚ the depreciation expense attributable to space used in manufacturing/processing wines will be accounted as inventory
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| | |$ 32 000‚00 |- | |- |$ 32 000‚00 | |$ 32 000‚00 |$ 32 000‚00 | Figure 1 The book value the building is $ 32‚000 MacCloud Winery assumes use of the building for 10 years ( term of the lease )‚ so by this period will be linearly amortized value of the building ($ 32‚000: 10 years = $ 3200) in the form of remission of fixed assets‚ which then will be transferred to the account
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CSU Stanislaus E&J Gallo Winery Plant Tour paper Stephan Jimenez Professor Kidd OM 3010 2013 October‚ 14 E&J Gallo Winery Plant Tour paper The Gallo Winery plant tour was an awesome experience for me. I have always been curious about how a product was made from start to finish‚ and after the Gallo tour I have many questions answered. In this paper you will learn many different things about how a production plant runs and what they continually do to make
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Case study on MacCloud Winery Questions 1. Applying the principles of accrual accounting‚ how should Mike treat the expenditures for the land‚ vines‚ vine planting‚ fertilizing‚ water? Be specific regarding the treatment over time‚ including amounts‚ and the rationale for the treatments. Answer: Following the key accrual accounting concepts: Conversation‚ Realization and Matching‚ we think Mike should treat the expenditures as follows: |No. |Item Description |Treatment
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winemaker‚ but also one of the most respected. After his death his sons took over the company and formed Australia’s first cooperative winery in 1916‚ naming it the Renmano Wine Cooperative. With the success and the development in the market Hardy felt they need to expand on its UK sales. This move led management to begin talking about the possibility of buying European wineries that could provide their newly acquired distributors with the critical mass and credibility to give Hardy’s wines greater access
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servicescape offers tangible communication about the service provided. Wineries can use the tangible cues of their physical design and the interior and exterior attributes of a winery and its environs for visitors and customers to assess levels of satisfaction‚ before‚ during and after consumption. An example of how the servicescape may affect satisfaction before consumption is through cues such as visual and virtual images of winery layout‚ external design and car parks. Although the potential
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something for everyone. Here are some upcoming events in Fredericksburg this spring. 7th Annual Rites of Spring Wine Festival Held at Celebrate Virginia‚ this annual event takes place on April 9th and 10th. Enjoy wines from several of Virginia’s wineries along with food from area eateries. Artisans and crafters from the area will display their work‚ and live music from local bands will play for everyone to enjoy as they explore the vendors. The event occurs rain or shine and there are activities
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a Sales Program Case 1.1 The Valley Winery Pat Waller‚ recently hired as sales manager of the San Francisco region’s chain division‚ was lamenting the problems he inherited. Despite favorable sales results for the San Francisco region‚ turnover was so severe Waller could not understand how sales increased during the past several years. He was surprised to learn the average sales rep had been with the San Francisco division of Valley Winery for only seven months and sales force turnover
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Situation Valley Winery has recently hired Pat Waller as sales manager of their San Francisco region chain division. There have been favorable sales increases during the past several years; however their sales force turnover is extremely high reaching nearly 100% a year. Pat Waller will be supervising two area managers who oversee nine district mangers with approximately fifty sales reps in the San Francisco region. The eighty year old company is the largest domestic producer of wine in the USA
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