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Sunshine Groceries operates a rapidly expanding chain of retail grocery stores in Europe. The company has grown from 10 stores in 2009 to 50 stores in 2011 and plans to add at least 10 stores each year for the next 3 years. Top executives at the company can earn annual cash bonuses of up to 200% of salary if board-approved sales growth goals are achieved.
Explain why it might make sense for this company to award bonuses based on sales growth. How might this approach encourage poor business decisions when compared to a bonus plan tied to earnings?
Earnings announcements by companies are closely followed by, and frequently result in, share price revisions. Two issues should come to mind. First, earnings announcements concern past periods, If the market values stocks based on expectations of ..
You own a bond with a face value of $10,000 and a conversion ratio of 450. What is the conversion price?
If present cost behavior patterns continue, determine total shipping costs for 19X7 if activity amounts to 570 orders.
What was Topps inventory turnover ratio and average days to seel inventory for 2006 and 2005?
Jessica Boland works for Sea Biscuit Co. She and Farah Smith, her manager, are preparing adjusting entries for annual financial statements. Boland computes depreciation and records it as: How should depreciation be recorded? Do you support Boland o..
Neffer Services Inc. leases access to high-speed computers to small businesses. It provides the following information for the year.
Hope mistakenly accounted for the investment as available for sale instead of using the equity method. What effect would this error have on the investment account and net income, respectively, for 2011?
What important information, related to the accounting equation, is captured by accounting information systems? How does this information get translated to the financial statements? Is it necessary for the accounting information systems to record d..
The customer fails to pay the bill within 30 days and a finance charge is added to the customer's account. What is the amount of the finance charge?
William and Frank are partners whose capital balances are $400,000 and $300,000 and who share profits 3:2. Due to a shortage of cash, William and Frank agree to admit Sammy to the firm.
LaGrange Corp. has forecasted that over the next four years the average annual after-tax income will be $45,731. The average book value of the manufacturing equipment that is used is $167,095. What is the accounting rate of return?
Compare and contrast proprietary fund reporting under GASB No.34 with GAAP financial reporting for non-governmental entities. Examine why GASB requires the direct method for cash flow statements in the proprietary funds instead of allowing the dir..
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