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When Mary Potts arrived at her store on the morning of January 29, she found empty shelves and display racks; thieves had broken in during the night and stolen the entire inventory. Accounting records showed that inventory costing $50,000 on January 1. From January 1 to January 29, Potts had made net sales of $70,000 and net purchases of $80,000. The gross profit during the past sev- eral years had consistently averaged 42 percent of net sales. Potts plans to file an insurance claim for the theft loss. Does Potts use the periodic inventory method or does she account for inventory using the perpetual method? Defend your answer
Provide recommendations and justifications of which depreciation method(s) are appropriate in this case. Explain how the choice of depreciation method affects reported profits.
Prepare a statement of cash flows for 2012 using the indirect method in the Operating Activities section and problem Statement of Cash Flows Indirect Method
bullreview financial statements for two years. bullmake a comparison of the following items and note
Determine the company degree of operating leverage. and Using the degree of operating leverage, estimate the impact on net income of a 5% increase in sales.
You suspect that your immediate supervisor is involved in a significant fraud involving diverting of company assets to personal use. Briefly describe the steps you might take to resolve this dilemma.
Example on Inventory Valuation
During March, it made 5,000 service calls. How much will Byters on Call’s profit increase if 160 more service calls are made?
computation of lossgain on retirement of bonds.on june 30 2007 country inc had outstanding 10 percent1000000 face
Prepare an annual depreciation schedule for the fixed assets of Bison Industries as of December - Bison Industries is in its first year of operations
If 'profit' maximisation is biased towards maximising the interest of only one stakeholder group, would you expect that over time there will be less emphasis on profits and more emphasis on other performance indicators?
Assume that the quantity demanded at the price calculated in part a is only 600 units. Illustrate what are the full costs of the globe, and what is the price with a 25 percent markup?
Illustrate what is the price of this stock today given a required return of 12 percent? Your tax rate is 31 percent and your required return on this project is 11 percent. What bid price per stamp should you submit?
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