Summary 2.Introduction 3. Objective of the study 4.Project description 4.1 SCOPE OF THE PROJECT 4.2 SITE & PROJECT LOCATION 4.3 PRESENT STATUS OF THE PROJECT 4. DESIGN & CONSTRUCTION OF THE PROJECT 6. Financial Ratios 6.1 Portfolio Turnover 6.2 Total Expense Ratio 7. Traffic 8. Project Cost 9. Project Funding 10. Financial Projections &Indicators 11. Limitations 12. Conclusions 4 5 7 14 15 16 17 27 27 29 31 33 37 38 39 41 Executive Summary The project is about studying the commercial feasibility
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appear below. All balance sheet data are as of December 31, 2009, and December 31, 2008. Douglas Company Maulder Company 2009 2008 2009 2008 Net sales $1,549,035 $339,038 Cost of goods sold 1,080,490 241,000 Operating expenses 302,275 79,000 Interest expense 8,980 2,252 Income tax expense 54,500 6,650 Current assets 325,975 $312,410 83,336 $ 79,467 Plant assets (net) 521,310 500,000 139,728 125,812 Current liabilities 65,325 75,815 35,348 30,281 Long-term liabilities 108,500 90,000 29,620 25,000 Common
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1. Player salary expenses on the income statement. Owners are including the deferred amounts in the expenses but not actually setting aside the amount. Some teams do, however, set this amount aside. Players feel bonuses should be spread over term of contract since it is more of a compensation package. There is an argument that the players may not complete the contract but the players have determined that most players do. a. Who is right? The players. b. Why? The players agreed that this
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accounts, which are accrued payroll and payroll expenses. Auditors mainly are concerned of these two accounts violating the completeness objective for most expense and liability accounts. Auditors should use comprehensive analytical procedures when assessing periodic payroll expense to check its rationality. After checking the payroll expense and considering it with the recent average employee pay raise, auditors will develop an expectation. If the payroll expense provided by the clients is out of the auditors
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“ordinary and necessary” business expenditure? “Ordinary” and “necessary” imply that an expense must be customary and helpful, respectively. Because these terms are subjective, the tests are ambiguous. However, ordinary is interpreted by the courts as including expenses which may be unusual for a specific taxpayer (but not for that type of business) and necessary is not interpreted as only essential expenses. These limits can be contrasted with the reasonable limit on amounts and the bona fide
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Question 1 – Company History, Policies & Reviews 1. What is the core business of Pacific Brands Ltd? |Pacific Brands Ltd is marketing a series of brands, covering Underwear, Hosiery, Work | |wear, Home wares, Footwear, Outerwear and Sport. Its main concern is on how to allocate | |the limited resources efficiently among these brands in order to generate the most profit from
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and A/R, along with the fact that even though the company is having significant sales growth, it’s not been able to leverage the economies of scale by being able to reduce operating expenses or purchasing expenses (Total COGS). All of this is leading to significant needs for short term loans and the interest expense on these loans is only making the matters worse. Based on our Proforma calculations, we think that in 1996 Clarkson needs loan amount of approximately $ 1,235,000 (i.e. around $ 1.24
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ISSUES IN ACCOUNTING EDUCATION Vol. 26, No. 3 2011 pp. 593–608 American Accounting Association DOI: 10.2308/iace-50038 Wiki Art Gallery, Inc.: A Case for Critical Thinking Fred Phillips and Brandy Mackintosh ABSTRACT: This instructional case requires students to provide advice to a client who is currently a co-owner of a for-profit art gallery. The client is planning to purchase his coowner’s shares at a price to be determined based on their company’s recent financial performance.
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33000+(50/100×33000) = $49,500 $112500 OPERATING EXPENSES BUDGET Operating expenses SALES JANAURY FEBRUARY MARCH Salary to partners 9167 9167 9167 Salary to others 6667 6667 6667 Stationery 167 167 167 Electricity 100 100 100 Travel 600 660 990 Bank charges 133 133 133 Phone 240 240 240 Rent 1800 1800 1800 Total 18874 18934 19264 Other expenses Depreciation 167 167 167 Advertising 300 330 495 Total 467 497 662 Total expenses 19341 19431 19926 Total = 58698 CASH FLOW BUDGET
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be capitalized, as the improvements will cause the value of the asset to be increased and may lengthen the time that the asset can be used. Payments of illegal parking, because not necessary to the production of income. Not deductible Wedding expense, is not deductible because it’s not generating income.
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