pays off. Solutions (Shrimp IMS and anti-virus drug VPX) were developed to prevent commercial-farmed shrimps from bacterias and a specific kind of virus. This pipeline of Shrimp IMS was built by Aqua Bounty in 2005 and then contributed to all of its revenue in 2005. The core business that has huge potential application prospect once commercialized‚ is still delayed due to regulatory‚ so does positive net income. The company also needs additional capital for further investments over the coming years.
Premium Income statement Revenue Inventory
| 30 | Unearned Service Revenue | 4100 | | | | Service Revenue | | 4100 | | | (to record revenue earned) | | | Jun | 30 | Salaries Expense | 1250 | | | | Salaries Payable | | 1250 | | | (to record accrued salaries) | | | Jun | 30 | Depreciation Expense | 250 | | | | Depreciation Equipment | | 250 | | | (to record monthly depreciation) | | | Jun | 30 | Accounts Payable | 3900 | | | | Service Revenue | | 3900 | | | (to
Premium Generally Accepted Accounting Principles Revenue Balance sheet
statements. REPORTABLE SEGMENT SFAS 131‚ Disclosures about Segments of an Enterprise and Related Information‚ defines an operating segment as a component of an enterprise that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise)‚ whose operating results are regularly reviewed by the enterprise’s chief operating decision maker to make decisions about resources to be
Premium Balance sheet Generally Accepted Accounting Principles Financial statements
Accounting Standards Board. (2012). SFAS 106‚ Accounting for Postretirement Benefits Other Than Pensions. Financial Accounting Standards Board. (2012). Statement of Position 98-5 Reporting on the Costs of Start-Up Activities. Investopedia. (2012). Revenue Recognition. http://www.investopedia.com/terms/r/revenuerecognition.asp#ixzz1xjbOoqk4 Investopedia. (2012). What ’s the difference between bottom-line and top-line growth? http://www.investopedia.com/ask/answers/149.asp#ixzz1xjKX3PXh Kylie Keener
Premium Generally Accepted Accounting Principles Revenue Income
1. What is the impact of the December 1993 shipments of conventional lenses to Bausch and Lomb 1993 financial statements? Is the impact significant? The impact was:- i) Increased revenue by $22M ii) Reduced inventory by 1.8 million pair. Based on the COGS of 45%‚ this could mean a reduction in inventory of close to $10M. iii) There is very little increase in SG&A as not much was spend in terms of sales effort. iv) AR increased significantly with some of the promissory notes are payable in
Premium Cost of goods sold Revenue Income statement
Introduction The hotel industry is a revenue generated business whose profit normally streams mainly from guest room nights‚ but other areas in the hotel which generate revenue are meeting spaces‚ food and beverage‚ gift shop‚ spa services‚ etc. These different departments in a hotel go hand in hand‚ in that‚ rooms are a vital part of any hotel‚ if they are being sold and profit is maximized in that department‚ it is likely that the other departments would be utilized as well‚ as opposed to if the
Premium Revenue Hotel Hotels
equipment and an extended warranty contract? Approach number one‚ the Full revenue recognition is the most consistent due to the reasons which are demonstrated on exhibit two according to the Financial Accounting concept No.5. As stated in this exhibit‚ Revenues must be both realized and earned prior to the recognition. In this case‚ after selling the goods and services Circuit city at that point of sale both revenue and earnings have been realized because goods have exchanged hands. At this
Premium Generally Accepted Accounting Principles Income International Financial Reporting Standards
balance sheets‚ statements of cash flow‚ management comments‚ and footnotes to financial statements‚ to explain how each current asset and liability account has affected cash management strategies. This paper also includes an assumed forecasted revenues increase of 20% for 2013. As a stakeholder‚ shareholder‚ or investor the ability to gain a brief‚ yet fundamental understanding of Apple‚ Inc.’s operational controls in reference to their current assets and liability accounts through the information
Premium Balance sheet Revenue Income statement
The membership fees recorded as revenue when received in Costco’s financial statement in 1998 according to the cash accounting. * Was this correct? If not‚ what accounting principle does it violate? No. It violates the revenue recognition principle because they did not provide services to members when they pay the membership fee during this fiscal year. It can only record this item as unearned revenue under the liabilities and change them into revenue at the end of the year. * How did
Premium Generally Accepted Accounting Principles Revenue Sales
Wellbutrin XL tablets fit into a trailer 1.5x=191‚250‚000 X=127‚500‚000 d. How much revenue does Biovail get from a single pill ? 400% 35% $2.83 Biovail → Distributor → Wholesaler → Retailer 0.52 ← 2.10 / 400% ← 2.83/1.35%=2.10 127‚500‚000 x 0.52= $6‚630‚000 One truck can definately carry $10 million worth of Wellbutrin XL tablet product. 2. How should the company recognize revenue based upon the two possible FOB contract structures mentioned in the case? Since Biovail’s
Premium Generally Accepted Accounting Principles Income statement Revenue