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Joe's is a small ice-cream shop located near the local university's baseball field. Customers can buy cones, sundaes, or shakes. When a customer pays for an individual purchase, a sales transaction usually includes just one item. When a customer pays for a family or group purchase, however, a single sales transaction includes many different items. All sales must be paid for at the time the ice cream is served. Joe's maintains several banking accounts but deposits all sales receipts into its main checking account. Draw an REA diagram, complete with cardinalitities, for Joe's revenue cycle. Joe, the owner of the ice-cream shop purchases ice cream from two vendors. Over the years, he has developed good relationships with both vendors so that they allow Joe to pay them biweekly for all purchases made during the preceding two-week period. Joe calls in ice-cream orders on Mondays and Thursdays. The orders are delivered the next day. Joe buys ice cream toppings from one of several local stores and pays for each such purchase at the time of salewith a check from the company's main checking account. Draw an REA diagram, complete with cardinalities, for Joe's expenditure cycle. How would the process of generating a cash disbursments journal from the REA data models differ from the process for creating a sales journal?
Calculate the total amount of dividends declared by March for 20X7. Calculate March's profit for 20X8.
Create a memo to a group of students interested in pursuing careers in management accounting. Include in the memo, the role of management accounting and how management accounting may differ based on different types of companies or industries.
Illustrate what is the company's total tax liability to both jurisdictions for each of the two alternative transfer pricing scenarios?
Which of the costs would be explained as an opportunity cost? Which is a sunk cost?
What does th e term functional currency mean? Explain how is the functional currency determined under IFRS and under US GAAP?
The beginning and ending balances in salaries payable were $40,000 and $15,000, respectively. Illustrate what was the amount of cash paid for salaries?
Show whether each variance is favorable (F) or unfavorable (U) - Evaluate of Variable-overhead spending variance and the variable-overhead efficiency variance
Computation of doubtful expenses for the year ended - What amount is owed to pacific by Riva Co. for September collections plus accrued interest on the note to September 30?
Determine the accounting rate of return on this investment for the first year. Assume straight-line depreciation. Based on this analysis, would the investment be made? Explain your answer.
For the year 2012, complete the corporation's AMTI Complete the tentative minimum tax Complete the tentative minimum tax base Is there an amount of the AMT? If so, what amount? Assume no ACE adj
Evaluate the net present value (NPV) and internal rate of return (IRR) of the Apex expansion project.
Evaluate operating income using the absorption-costing approach. Describe why operating income is not the same under the two approaches.
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