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A meeting of your accounting department is scheduled for early tomorrow morning. One topic of discussion is certain to be the appropriate adjustments to net income in your company's statement of cash flows using the indirect method of reporting operating activities. Hallway discussions have suggested some degree of uncertainty, particularly regarding unearned revenues, which are substantial for the company. Because your firm went public only seven months ago, this reporting issue is a new one for you and most other members of the department. In preparation for the meeting, you sought out the financial statements of Microsoft Corporation, knowing that it too had substantial unearned revenues. The operating activities section of the comparative statements of cash flows for Microsoft is presented below.
Required:
1. Locate the financial statements of Microsoft Corporation on the Internet. Search the disclosure notes for information about how Microsoft accounts for its unearned revenues. How is the undelivered portion of Microsoft's sales of Windows XP Professional recorded initially?
2. Why does the statement of cash flows include "unearned revenue" as an addition to net income in the operations section? Why is "recognition of unearned revenue" included as a deduction from net income? Why do you think Microsoft reported these two items separately rather than just adjusting net income for the change in the unearned revenue account balance?
3. Why is stock-based compensation added to net income?
Read the following scenario. Respond to the scenario with an essay laying out a managerial plan that is rooted in the Managerial Accounting knowledge that you have acquired thus far in the semester.
The variable expense per unit is $175 and fixed expenses are $100,000. If the company reduces variable expenses by $20 per unit and increases the fixed expenses by $10,000, the break-even point will DECREASE.
Analyze the presidents three options concerning the parcel business and comment on the strengths and weaknesses of each option and give a recommendation.
Cash and investments of a bond sinking fund established to service general government long-term debt.
Lux Pty Ltd produces a single product, The company uses a standard costing system. Based on producing 15500 units of product per month, the standard cost specification.
according to martin and steele the two principal professional associations in australia - cpa australia the cpa and the
Determine whether the plan for downsizing the current cafeteria operation would be acceptable to Mayfair Limited. Show your calculations.
Determine the net present value of the investment if the required rate of return is 14 percent. (Ignore taxes.) Should the investment be undertaken?
Draw a scatter diagram of Boutique Catering's Number of meals prepared and administrative costs for the year.
Prepare an absorption costing income statement for the quarter ended March 31 - Prepare a balance sheet as of March 31.
Determine the amounts - Cash collected from sales during Year 2 and cash payments on accounts payable during Year 2.
Describe the difficulties associated with each type. What can companies do in order to price products competitively and avoid some of these difficulties?
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