temporary accounts once each year on December 31. The company recently issued the following income statement as part of its annual report. GERDES PSYCHOLOGICAL SERVICES‚ INC. Income Statement For the Year Ended December 31‚ 2007 Revenue: Counseling revenue……………………………. | | $225‚000 | Expenses: | | | Advertising expense…………………………... | $ 1‚800 | | Salaries expense………………………………. | 94‚000 | | Office supplies expense………………………. | 1‚200 | | Utilities expense………………………………. |
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CHAPTER 1 Introduction to Financial Statements Study Objectives 1. 2. 3. 4. 5. 6. Describe the primary forms of business organization. Identify the users and uses of accounting information. Explain the three principal types of business activity. Describe the content and purpose of each of the financial statements. Explain the meaning of assets‚ liabilities‚ and stockholders’ equity‚ and state the basic accounting equation. Describe the components that supplement the financial statements in an
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42‚978 * 19 + 47‚275.8 * 10 = $1‚289‚340 for all weekend games expected ticket revenue: 1‚359‚035.04 + 1‚289‚340 = $2‚648‚375.04 2) Bees’ reported revenue would have to be within $100‚000 or a little more for it to be considered reasonable or fairly stated. There could be a number of reasons reported ticket revenues may be outside the reasonableness range”. Simply put‚ I could have figured the expected revenue incorrectly with the information I was given(which could make me completely off in
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details are very scarce and this is due to the Jumpstart Our Business Start-ups Act. This allows companies with less than $1 billion in revenue can file for IPOs without having to disclose much of anything about their underlying operations until at least 21 days before their “roadshow.” Because of this‚ Twitter did not have to reveal any information about revenues‚ valuation‚ executive compensation‚ or even business strategy. This is the first company that we have seen use this JOBS act that was put
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FINANCE CAPITAL BUDGETING SIMULATION WORKSHEET Part III – Debrief Name: Group Members: INSTRUCTIONS: This worksheet debriefs the simulation and summarizes your key takeaways from the project and is to be completed on an individual basis. Complete the executive summary and answer all questions in this worksheet using the foreground reading and the financial data for the firm posted on the simulation website. Each discussion response should be complete and self-supporting (one-line responses are
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Full Year Results Year ended 31 December 2012 28 February 2013 Cautionary statement This Review is intended to focus on matters which are relevant to the interests of shareholders in the Company. The purpose of the Review is to assist shareholders in assessing the strategies adopted and performance delivered by the Company and the potential for those strategies to succeed. It should not be relied upon by any other party or for any other purpose. Forward looking statements are made in good
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1. Was Forrest Gump an ’accounting’ hit in terms of net income‚ as computed by Paramount? As computed by Paramount it was not an accounting hit‚ since it resulted in a loss of $60 million. The gross revenue of $191 million could not exceed high costs like Production costs $66.8 Gross profit participation be directors‚ actor $30.6 Promotion & distribution costs $67.2 Distribution fee $61.1 2. How much in gross box office receipts will the studio have to receive from theaters
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performance gaps. We have compared our performance measures with our objectives‚ market average and our top two competitors. This section shows these comparisons with all ten of our performance measures: Occupancy percentage‚ Rooms Revenue‚ Total Revenue‚ Market Share based on Revenue‚ RevPAR‚ ADR‚ Yield Management‚ Operating Efficiency Ratio‚ and Profit Margin. Section 3 of this paper focuses on the causes behind our top 3 performance gaps. We have previously determined our top 3 performance gaps to
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Westwood’s Gross Margin Percentage is calculated as (sales less cost of goods sold) as a percentage of net sales revenue. For Westwood it’s calculated as follows based on the financial statements (all in millions of dollars): 2010 Gross Margin: (2000-1100) = 900 2010 Sales Revenue = 2000 2010 Gross Margin Percentage = 45% 2009 Gross Margin: (1500 – 800) = 700 2009 Sales Revenue = 1500 2009 Gross Margin Percentage = 46.7% Westwood’s Pre-Tax Return on Sales is calculated as: 2010 Pre-tax
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BUSINESS ANALYSIS AND VALUATION REPORT Scheduled Class: Monday 2:00pm to 5:00pm 1. Introduction Harvey Norman is now a public company that is listed on the stock exchange‚ whose principal activities primarily consist of an integrated franchising‚ retail and property entity. It is one of Australia’s most successful retail groups‚ operating more than 150 franchised department stores‚ which focus on selling computers‚ home entertainment equipment and home appliances
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