Expenses

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    Caledonia Products Integrative Problem

    to 5 1YR 2YR 3YR 4YR 5YR 21,000,000 36,000,000 42,000,000 24,000,000 15,600,000 Project Revenue 200,000 200,000 200,000 200,000 200,000 Minus fixed expenses 12,600,000 21,600,000 25,200,000 14,400,000 10,800,000 Minus variable expenses 8,200,000 14,200,000 16,600,000 9,400,000 4,600,000 Equals gross profit 1,600,000 1,600,000 1,600,000 1,600,000 1,600,000 Minus depreciation 6,600,000 12,600,000 15,000,000 7,800,000 3,000,000 Equals net

    Words: 809 - Pages: 4

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    Problem 23-129 Accounting

    and indirect methods). Hartman, Inc. has prepared the following comparative balance sheets for 2010 and 2011: 2011 2010 Cash $ 297,000 $ 153,000 Receivables 159,000 117,000 Inventory 150,000 180,000 Prepaid expenses 18,000 27,000 Plant assets 1,260,000 1,050,000 Accumulated depreciation (450,000) (375,000) Patent 153,000 174,000 $1,587,000 $1,326,000 Accounts payable $ 153,000 $ 168,000 Accrued liabilities 60

    Words: 1131 - Pages: 5

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    Iap- Accounting

    Issue Analysis Papers Overview PPBJ is a privately-owned company and their main operating activity is to build theatres and concert halls. On Jan 1st, 2010 they signed a contract of an amphitheatre, which will be finished at the end of 2012. The price of 10.5 million dollars is assigned to the contract. We, as their auditors, are asked by a company partner, to identify and analyze several accounting issues relating to this project. Issue #1 - Issue Identification The main issue is when to

    Words: 918 - Pages: 4

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    Comparing Walmart and Target Capital Expenditures

    Comparing Walmart and Target Capital Expenditures In every business there is always a need for capital expenditures. Capital Expenditures can be very beneficial and can also differentiate the numbers from rival companies. According to readings “capital expenses are extensive and mostly hold a company’s substantial amount of money. Companies invest in prime property, plant, machinery, buildings and other forms of fixed assets, which also act as securities for the company. I chose to look up the Capital

    Words: 834 - Pages: 4

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    Dragon Soup Harvard Business Case

    G&A for this case) and do not include interest. Therefore, there is no interest expense of $50,000 under the operating lease however, that is offset by an increase in S,G&A expense ($85,870). Secondly, the lessee, Dragon Soup, does not have to expense depreciation which saves them an additional $50,000. This reduction is made to Cost of Goods Sold because under GAAP, manufacturing firms are to apply direct PPE expenses to inventory when it is sold. The result of this decision is a $14,130 higher EBT

    Words: 1306 - Pages: 6

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    Accounting Errors

    action materially overstated their financial performance in later reporting periods. “Overstock.com admitted that they “incorrectly amortized the expense related to restricted stock units based on the actual three year vesting schedule rather than a three year straight line amortization and applied an outdated forfeiture rate in calculating its expense under the plans.” Accounting errors are not unusual for a business. When an accounting error occurs that is at the level of the error of Overstock

    Words: 1193 - Pages: 5

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    Gaap

    charges are expenses that the company claims will not occur year after year, and, as such, are not recorded on the income statement but included in a separate charge. One-time charges are technically not recurring and therefore not a true factor affecting the value of the company. So, earnings figures calculated with the one-time charges are usually reported separately from the figures on the income statement, such as net income. (For more on one-time charges read The One-Time Expense Warning.)

    Words: 901 - Pages: 4

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    Question Paper

    Sales | | ? | Stocks at 1 April 2005: | Raw materials | 500 | | Finished goods | 2400 | | Work in progress | 800 | Office equipment | | 4000 | Vehicle running expenses | | 6520 | Selling and administration expenses | | 12100 | Manufacturing wages | | 80000 | Indirect factory expenses | | 6000 | Purchase of raw materials | | 200000 | Plant and machinery | | 60000 | Vehicles (used only to deliver finished goods) | | 10000 | Returns outward | | 100

    Words: 539 - Pages: 3

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    Paciolo and Modern Accounting

    * First bookkeeping book printed in 1494 – very little change to bookkeeping * Since emergence of record keeping similar to banks and governments were applied to mercantile affairs, bookkeeping has possessed theory, form, and technology * Ancient theory in bookkeeping was inferred * Double entry arose from a certain methodology – double posting passed the test of mechanical accuracy. It is a fact that every transaction has dual aspect * System of debits and credits was used in

    Words: 610 - Pages: 3

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    El Primer Avance Velit

    Profit and Loss Statement  Velít Cosmética | For the year ended december 31, 2011 | Sales | | | Net Sales | $ 139,095.00 | Purchases | | | Total Purchases | $ 51,987.35 | Operating expenses | | | Selling expenses | $ 25,519.55 | | Administrative expenses | $ 57,691.15 | Profit | | | Profit before taxes | $ 3,896.95 | The Profit and Loss Statement for 2011, provided by Velít is showed in the Annexes. 2. Sales force and company

    Words: 621 - Pages: 3

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