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Explain underlying accounting concepts, assumptions, and principles of accounting) David Newberry is chairman of the board of Healthy Food Brands, Inc. Suppose Mr. Newberry has just founded Healthy Food Brands, and assume that he treats his home and other personal assets as part of Healthy Food Brands. Answer these questions about the evaluation of Healthy Food Brands, Inc.
1. Which accounting assumption governs this situation?
2. How can the proper application of this accounting assumption give Newberry and others a realistic view of Healthy Food Brands, Inc.? Explain in detail.
If instead you put the money in the bank for 30 years, how much would you have at the end of that time, assuming that your account earns 5% interest compounded daily? Assume also that you drink a cup of coffee every day, including weekends.
It is now year end and the share price is trading above the fixed conversion price but well below the 20% premium level. The note therefore cannot be tuned in (i.e., converted). The CEO feels that the share price will not exceed the 20% premium fo..
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A year-end physical inventory at retail prices yields a total inventory of $78,550. Prepare a calculation Showing the company's loss from shrinkage at cost and at retail.
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Compute the current ratio and Net Working capital -
Determine balances for the following items that would appear on Allister's consolidated financial statements for 2015
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What are McLaren's (a) asset turnover and (b) profit margin? (Round answers to 1 decimal place, e.g. 10.5.)
Brumlow Company has a contribution margin ratio of 25%. The company is considering a proposal that will increase sales by $100,000. What increase in profit can be expected assuming total fixed costs increase by $20,000?
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