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Case: Donna Tse has recently accepted the position of assistant manager at Cycle World, a bicycle store in St. Louis. She has just finished her accounting courses. Cycle World's manager and owner, Jeff Towry, asks Tse to prepare a budgeted income statement for 2011 based on the information he has collected. Tse's budget follows:
Sales revenue
5244,000
Cant of goods sold
177,000
Gross profit
67,000
Operating expenses:
Salary and commission expense
46,000
Rent expense
8.000
Depreciation expense
2,000
Insurance expense
800
Miscellaneous expenses
12,000
68,800
Operating DOSS
(1,800)
Interest expense
1225)
Net loss
$ (2,025)
Requirement
1. Ise does not want to give Towry this budget without making constructive suggestions for steps Towry could take to improve expected performance. Write a memo to Towry out-lining your suggestions.
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Payments are due on the first day of each month starting with the day you sign the lease contract. If your cost of money is 6.5 percent, what is the current value of the lease?
question 1the charter for zippy inc. authorizes the company to issue 500000 shares of 7 no-par preferred stock and
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Jennifer, age 28, is divorced and has a son, age one. Six months ago, Jennifer purchased an individual medical insurance policy covering the entire family. Her son was recently diagnosed with congenital heart disease.
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enumerate the important role of some profitability ratio. explain how they are helpful in determining the profit
1 when indirect materials are requisitioned the account is increased.amaterials controlbaccounts payable
What are the main points and arguments of the author(s)? ? What is your opinion of the article? How does the article relate to your experience or current job in the public or nonprofit sector? ? How can the points and arguments of the author(s) be ..
How many pillows must Dreamland produce and sell each month to earn a monthly gross profit of $1,000?
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