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Your friend, Wendy Geiger, owns a small retail store that sells candies and nuts. Geiger acquires her goods from a few select vendors. She generally makes purchase orders by phone and on credit. Sales are primarily for cash. Geiger keeps her own manual accounting system using a general journal and a general ledger. At the end of each business day, she records one summary entry for cash sales. Geiger recently began offering items in creative gift packages. This has increased sales and substantially, and she is now receiving orders from corporate and other clients who order larger quantities and prefer to buy on credit. As a result of increased credit transactions in both purchases and sales, keeping the accounting records has become extremely time consuming. Geiger wants to continue to maintain her own manual system and calls for your advice. Required: Write a memo to her advising how she might modify her current manual accounting system to accomodate the expanded business activities. Geiger is accustomed to checking her ledger by using a trial balance. Your memo should explain the advantages of what you propose and of any other verification techniques you recommend.
Evaluate the cash payback period for each proposal. Arrange a differential analysis report, dated 15 th November of the present year, on whether the equipment should be leased or sold.
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Benefit-cost analysis
She had purchased the word processor three years ago for $950 and has taken $300 in depreciation. Explain how much and what type of gain or loss will Susan have on the sale?
Kari's Kookies has total costs of $5,000 when 2,000 units are produced and $11,000 when 5,000 units are produced. Find the variable cost per unit?
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What amount should the rights be reported in the consolidated balance sheet and What effect does the dividend have on the retained earnings and minority interest balances in the parent company's consolidated balance sheet
Evaluate both the direct labor cost and the direct materials cost per equivalent unit.
Prepare a brief essay that evaluates the validity, both ethically and practically, of the controller's plan.
What was Disney's amount of working capital at year-end 2004? Did it change significantly and Compute the working capital ratio at year-end 2004 and year-end 2003. Did it improve or deteriorate between 2003 and 2004?
variable interest in variable interest entity is required to consolidate assets, liabilities, revenues and expenses, and the non-controlling interest of that entity if:
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