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Using Landry's Restaurants, Inc. 2008 10-K Report located in the Course Materials Forum, prepare a 1,050-1,750 word paper in which you answer the following items:
a. Does management's assessment of the financial condition agree with your assessment from the Financial Statements Paper Part I? Explain. Support your answer by using two of the three following analysis tools - trend, vertical, or ratio analysis.
b. In the Annual Report, there are several concerns from management. Discuss these concerns, and identify other weaknesses not discussed by management. Then, recommend a course of action addressing these concerns.
Compute the depreciation expense for year 2009 on the building using the straight-line method, assuming a 15-year life and a $30,000 salvage value.
Prepare example journal entries to account for transactions related to accounts receivable and bad debt using both percentage of sales and the percentage of receivables methods.
The City of Southern Pines reported the following at year-end, prior to closing entries: Revenues, $11,000,000; Expenditures, $10,100,000; Other Financing Uses, $500,000;
Prepare the journal entry to record the exchange on Smith's books, assuming the transaction has commercial substance. Prepare the journal entry to record the exchange on Smith's books, assuming the transaction does not have commercial substance.
What is the adjusted balance on the bank reconciliation? Journalize any necessary entries for ABC, Inc. based on the bank reconciliation.
Determination of Beneficiary's Income. A trust is authorized to make discretionary distributions of income and principal to its two beneficiaries, Roy and Sandy.
Evaluate the impact to a business when compensation, such as sales commissions and bonus, are tied to achieving budgeted expectations. Suggest how management can prevent employees from manipulating results.
Please discuss the value of the accounting cycle to the including:
Dave Ganz started a sole proprietorship by depositing $30,000 cash in a business checking account. During the accounting period the business earned $6,000 of net income and Ganz withdrew $2,000 cash from the business.
Why aren't actual overhead costs traced to jobs just as direct materials and direct labor costs are traced to jobs? Also, how are overhead costs assigned to jobs?
The Central Valley Company is a merchandising firm that sells a single product. The company's revenues and expenses for the last three months are given below:
A tract of land was distributed by MNO Inc. to its sole shareholder, Martha, as a dividend. At the time of the distribution, MNO Inc.'s adjusted basis in the land was $40,000, the fair market value of the land was $80,000, and the land was encumbe..
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