Check errors using accounting relations

Assignment Help Finance Basics
Reference no: EM131486978

Question: Using Accounting Relations to Check Errors (Hard) A chief executive reported the following numbers for fiscal year 2012 to an annual meeting of shareholders (in millions):

1359_Revenues.png

Show that at least one of these numbers must be wrong because it does not obey accounting relations.

Reference no: EM131486978

Questions Cloud

Explore the fasb codification section : Explore the FASB Codification section related to liabilities (§405). Explain how specific liabilities might be treated
What ethical system most accurately supports your decision : You are a soldier in Iraq and have taken pictures of fellow soldiers engaging in various acts of abuse and torture.What, if anything, would you do with the pic.
Discuss the differences between and the relationship among : Discuss the differences between, and the relationship among, the following levels of analysis: organizational analysis, operational analysis.
Discuss about the arab americans and muslims : According to what they expressed in the videos, Arab American community has to deal with several patterns of social discrimination.
Check errors using accounting relations : Using Accounting Relations to Check Errors (Hard) A chief executive reported the following numbers for fiscal year 2012 to an annual meeting of shareholders.
Explain how will you address differences in laws and ethics : How will you address the differences in laws and ethics of other countries that may differ from those in USA? Why is it important to aware of these differences?
Negotiate a mutually suitable time : Provide examples of what you would actually say to the owner and tenant to negotiate a mutually suitable time and make a firm appointment for this inspection.
Associate interpretation of premium bonds : Reply with the memorandum to confirm or correct your associate's interpretation of premium bonds.
Shouldnt parents know if their daughter is having surger : Shouldn't parents know if their daughter is having surgery? After all, they can't get their ears pierced without parental permission.

Reviews

Write a Review

Finance Basics Questions & Answers

  What is the effective annual rate on this arrangement

A firm sells its $1,120,000 receivables to a factor for $1,075,200. The average collection period is 1 month. What is the effective annual rate on this arrangement? (Round your intermediate calculations to 4 decimal places. Round your answer to 2 ..

  Potential personal liability for injuries to consumers

Explain potential personal liability for injuries to consumers caused by the product.

  What is mercury’s financial breakeven point

In addition, Mercury has $60,000 preferred stock that pays a 5 percent dividend. If its marginal tax rate is 40 percent, what is Mercury's financial breakeven point?

  Evaluate capital investment project

What types of decisions would need to be made before the investment is made? Indicate the main kinds of information/data needed to evaluate this capital investment project.

  Consequences of high leverage

If the assets are tangible and the market can supply meaningful valuations then you could say that the value of the company is the assets-in a perfect world.

  Estimated beta of stock of a company

The stock of Eastman Kodak has an estimated beta of 1.6. How would you interpret this beta value?  How would you evaluate the firm's systematic risk?

  These bonds pay interest semiannually mature in 6 years

bluff enterprises has 1000 face value bonds outstanding. these bonds pay interest semiannually mature in 6 years and

  How does the pattern of cash dividend payments change

List the five stages of the industry life cycle. How does the pattern of cash dividend payments change over the cycle? (A general statement is all that is required.)

  Compute rippard net profit margin

Rippard's has a debt ratio of 24 percent, a total asset turnover ratio of 1.3 and a return on equity (ROE) of 60 percent. Compute Rippard's net profit margin. (Record your answer as a percent rounded to one decimal place but do not include the per..

  What is the depreciation tax shield

Assume a tax rate of 30% and a discount rate of 13%. What is the depreciation tax shield for this project in year 5?

  Problem regarding the net credit position

McGriff Dog Food Company normally takes 20 days to pay for average daily credit purchases of $9,000. Its average daily sales are $10,000, and it collects accounts in 25 days.

  Lb moore has 40000 shares of common stock outstanding the

lb moore has 40000 shares of common stock outstanding. the firm just paid an annual dividend of 2.70 per share on this

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd