Why justin maul wasn''t concerned, Accounting Basics

Assignment Help:

Kim presently owns a business that processes and distributes fresh vegetable to local supermarkets. She is looking to expand her business by acquiring the Lackawaxen Emu Oil Company, a manufactures of makeup and beauty products contain emu oil. Kim looks over the financial statements of Lackawaxen and notice that the number of day's sales in inventory is five times higher than in her fresh vegetable business. Kim contacts her accountant Justin Maul, CPA, and asks him to look into this matter further. Justin informs Kim that she shouldn't be concerned with the difference in the number of day's sales in inventory between her fresh vegetable business and the emu-oil-based beauty products business. Explain why Justin Maul wasn't concerned.


Related Discussions:- Why justin maul wasn''t concerned

Generally accepted accounting principles, Some companies announce pro forma...

Some companies announce pro forma earnings and then disclose real earnings measured under US Generally Accepted Accounting Principles (GAAP) in their quarterly financial reports.

Social responsibility accounting, Social Responsibility Accounting: So...

Social Responsibility Accounting: Social responsibility accounting is a modern phase in the development of accounting and owes its birth to rising social awareness that has be

Describe retail inventory method, Q. Describe Retail inventory method? ...

Q. Describe Retail inventory method? Retail stores often use the retail inventory method to estimate ending inventory at times other than year-end. Taking a physical inventory

CIS 180, Start in cell E3. Complete the series of substitution values rangi...

Start in cell E3. Complete the series of substitution values ranging from 5 to 15 at increments of 1, vertically down column E.

What is income summary account, Q. What is Income Summary account? The ...

Q. What is Income Summary account? The Income Summary account is a clearing account used merely at the end of an accounting period to summarize revenues and expenses for the pe

Explain benchmarking, Benchmarking A process by which a company reasse...

Benchmarking A process by which a company reassesses its established business practices by comparing them with the best practices of other organizations.  This process is desi

Determine the symbols of net sales for the period, Determine the symbols of...

Determine the symbols of Net Sales for the Period -    Cost of Goods Sold =    Gross Profit -    Operating Expenses +    Other Income -      Other Expenses =

Define bear market, Bear Market Bear market is a market in which stock...

Bear Market Bear market is a market in which stock prices are expected to fall.

A vendor reduces an item listed at $140 on july 1st by 20%, A vendor reduce...

A vendor reduces an item listed at $140 on July 1st by 20%, and then reduces it another 25% on September 1st. What is the sale price of the good after the last reduction? A. $7

Describe exceptions to the realization principle, Q. Describe Exceptions to...

Q. Describe Exceptions to the realization principle? Exceptions to the realization principle: The following illustrations are instances when practical considerations may cause

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd