User Account

All Pages

Do you agree with daniel explain your reasons

Assignment Help Accounting Basics
Reference no: EM132068045

Question - You are the Senior accountant of Toys R Urs Ltd. Daniel, the Managing Director of the company, recently mentioned to you that he found an error in the 2014 financial statements. The ending inventory value of 2014 was found to be overstated by $175,000. Daniel also says to you that ending inventory value reported in the 2015 financial statement is correct. Therefore, Daniels assumes that profit figure for 2015 is correct for Toys R Urs Ltd. Daniel believes that there is nothing to worry about reported profit for both 2014 and 2015.

Required: Do you agree with Daniel? Explain your reasons. (Word Limit: 100 - 150 words)

Reference no: EM132068045

Questions Cloud

Calculate the work in process inventory at december : The Work in Process inventory at January 1 was 75% of the Work in Process inventory at December 31. Calculate the Work in Process inventory at December 31
Find maximum price that investors will pay for security : To raise funds, your firm decides to sell a security that will pay a quarterly dividend of $10 for 30 years. You know that securities for companies.
Discuss the risk-return relationship : Rank the following three stocks by their risk-return relationship, best to worst. Rail Haul has an average return of 10 percent and standard deviation.
What is the best estimate of the current stock price : The Ramirez Company's last dividend was $1.75. Its dividend growth rate is expected to be constant at 24% for 2 years, after which dividends are expected.
Do you agree with daniel explain your reasons : The ending inventory value of 2014 was found to be overstated by $175,000. Do you agree with Daniel? Explain your reasons
Compute the mirr of the project using all methods : The company uses an interest rate of 10 percent on all of its projects. Calculate the MIRR of the project using all methods.
Calculate the break-even point : Rainbow Centre charges its service to each parent $490 per child, per month. Calculate the break-even point
Calculate the net cash flow from operating activities : Ramakrishnan, Inc., reported 2015 net income of $80 million and depreciation of $3,300,000. The top part of Ramakrishnan, Inc.'s 2015 and 2014 balance sheets.
Specific branded hotel in the future : If there were multiple Best Western franchised properties in the immediate vicinity, do you think he would return to this one on a future visit to the area?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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