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The general manager of Qantas had two concerns: the company's worsening cash position ($3000 cash and No bank loan at the end of 2011, No cash and a $7,000 bank loan at the end of 2012) and an inadequate level of net profit. (According to General Manager).1. The general manager was confused because the company had a $9,000 profit, yet seemed, as noted above, $10,000 worse off in its cash position. Explain briefly how, in general, this difference between profit and cash change can happen. 2. For each of the proposed changes below, considered separately and independently, calculate the effect on 2012 net profit and total assets as at 31st December 2012. Assume a company tax rate (Australia) as income tax rate.a) The general manager suggested recognizing revenue at an earlier point. If this were done, net account receivables would be increased by $12,000 at 31st December 2011 and by $23,000 at 31st December 2012.
Using the estimated sales and production of 10,000 pairs of skis as the expected volume, the accounting department has developed the following cost per pair of skis and bindings:
Remy's lawyers were successful, and the remaining years of benefit from the patent were estimated to be six years. The patent amortization expense for 2014 is
ABC Company recognises revenue at the point of shipment. Management decides to increase sales for the current quarter by filling all customer orders. Explain what impact this decision will have on the following:
3 page paper on analysing a company and the company would be Chipotle Mexican Grill.
On July 1, 2009, Cheryl pays the entire real estate tax of $5,475 for the year ending December 31, 2009. a. How much of the property taxes may Phil deduct?
What is the difference between top down and bottom up budgeting? Under what circumstances might one approach be preferred to the other?
In addition to the accounts listed above, Truex also had a Cash account. What is the amount of that Cash account as of May 1?
Calculate Basic and Dilutive Earnings per Share
How should earned but unbilled revenues at the balance sheet date on a long-term construction contract be disclosed if the percentage-of-completion (POC) method of revenue recognition is used?
Accrued rents on the apartment building are as follows" 70,000 (date of death) and 60,000 (six months later). In order to pay expenses, the executor of Arlene's estate sells the Tan stock for $600,000 eight months after her death.
In November and December 2007, ABC Company received $75,000 for 1,000 three-year subscriptions at $25 per year starting with the January 2008 issue. What amount should ABC report in its 2007 income statement for Subscriptions Revenue
Also explain how the cash budget can impact the timing of certain decisions such as when to invest in capital projects or seek additional financing.
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