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Amazon.com's financial statements in Appendix A at the end of this book reveal some interesting relationships. Answer these questions about Amazon.com:
1) What is most unusual about the balance sheet?
2) Compute trend percentages for net sales and net income. Use 2003 as the base year. Which trend percentage looks strange? Explain your answer.
3) Compute inventory turnover for 2005 and 2004. The inventory balance at December 31, 2003 was $ 294 million. Do the trend of net income from 2004 to 2005 and the change in the rate of inventory turnover tell the same story or a different story? Explain your answer.
Hall company uses the allowance method to account for bad debts. An account that hsd been previously written-off as uncollectable was recovered. How would the recovery affect the company's accounting equation?
The little Black Dress Shop (TLBDS) started the 2008 accounting period with the balances given in the financial statements model shown below. During 2008 TLBDS experienced the following business events.
The Ice Corporation issues 30,000 shares of $50 par value preferred stock for cash at $60 per share.
The spot rate of exchange, S(MXN/USD), between the Mexican peso (MXN) and U.S. dollar (USD) is MXN 11.95/USD and the 6-month futures rate is MXN 12.4328/USD. If U.S. interest rates are 5% per annum then the annual interest rate in Mexico must be
If Alice decides to buy the investment, she would receive the first $250 payment one year from today. How much should Alice be willing to pay for this investment?
Explain the difference between the cash basis and accrual basis of accounting. Explain the difference between the cash basis and accrual basis of accounting?
if a company liquidates, which investment has priority? what if you had preferred stock?
List the advantages and disadvantages of Public versus Private Financing.
Gridiron University is a private university. A successful alumnus has recently donated 1,000,000 to Girdion for the purpose of funding a "center for the study of sports ethics."
Tapley Inc. currently has assets of $5 million, zero debt, is in the 40% federal-plus-state tax bracket, has a net income of $1 million, and pays out 40% of its earnings as dividends.
How do the calculation and comparison to previous years of the gross margin percentage and the ratio of accounts receivable to sales are related to the conformation of accounts receivable and other tests of the accuracy of accounts receivable?
Prepare the journal entries on the lessee's books to reflect the signing of the lease agreement and to record the payments and expenses related to this lease for the years 2011 ans 2012. kimberly-clark's corporate year end is december 31. Show all..
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