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The controller of Ruiz Co. believes that the yearly allowance for doubtful accounts for Ruiz Co. should be 2% of net credit sales.The president of Ruiz Co., nervous that the stockholders might expect the company to sustain its 10% growth rate, suggests that the controller increase the allowance for doubtful accounts to 4%. The president thinks that the lower net income, which reflects a 6% growth rate, will be a more sustainable rate for Ruiz Co.
Instructions
(a) Who are the stakeholders in this case?
(b) Does the president's request pose an ethical dilemma for the controller?
(c) Should the controller be concerned with Ruiz Co.'s growth rate? Explain your answer.
Financial management is about to explain what managers can do to make their companies more valuable. Managers must understand how investors determine the values of stocks and bonds if they are to identify, evaluate and implement projects that meet..
Brown Company's contribution margin ratio is 24%. Total fixed costs are $84,000. What is Brown's break-even point in sales dollars?
Finished goods inventory at the end of last December was 200 units. Ending finished goods inventory is equal to 25 percent of the next month's sales. Lenova Company expects to sell the brackets for $45 each. How many brackets should Lenova produce..
On January 1, 2010, Fishbone Corporation sold a building that cost $262,300 and that had accumulated depreciation of $101,600 on the date of sale. Fishbone received as consideration a $251,400 noninterest-bearing note due on January 1, 2013.
What is the amount of the child and dependent care credit they should report on their tax return for 2008?
assume the following the real risk-free rate r is expected to remain constant at 3. inflation is expected to be 3 next
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Assume that you are a key member on an audit engagement team and discover a breach in internal controls. Discuss how you will report the breach and your expectations of management for a resolution to the breach.
what is the purpose of studying financial statements?support your statements with evidence from the required studies
For the common stock, determine (a) the earnings per share, (b) the price-earnings ratio, (c) the dividends per share, and (d) the dividend yield.
Innova Discs has two divisions-Standard and Premium. Each division has hundreds of different types of golf discs and disc golf products. The following information is available:
Compute depreciation for 2011 and 2012 and the book value of the drill press at December 31, 2011 and 2012, assuming the straight-line method is used.
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