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ACCOUNTING
Analyzing Accounting Systems
Analyzing Accounting Systems
Introduction
The world is evolving at a very rapid pace where hundreds of new technologies are being developed on a daily basis. To survive in such a dynamic environment, businesses need to be flexible and need to constantly adapt to the changes. To steer such businesses away ...
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ACCOUNTING ANALYSIS
Accounting Analysis
Accounting - Analysis
Part A
Financial statements of Lazarus Ltd for the year ended 30th June 2010
Lazarus Ltd Income Statement
For the year ended 30th June 2010
Sales
4235000
less: cost of Goods sold
Merchandise inventory opening
194000
Add: Purchases
3052000
Less merchandise inventory
190000
Cost of goods sold
3056000
Gross profit
1179000
Less Operating Expenses
Wages and salaries
179000
Directors salaries
127000
Advertising
45000
Depreciation: Motor
20000
Depreciation: Furni & fix
50000
Rent Expense
106500
Electricity
42000
Insurance
28000
Office expenses
76000
Rates
31000
Total ...
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Franchising
Franchising
The high cost and risk of developing new products and penetrating new markets is a major force that drives organizations to work in partnership. In any type of business format franchising, a franchisor grants a franchisee the rights to use its brand name, product and business system in a ...
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Toddler Treasures, Inc.
Toddler Treasures, Inc.
Introduction
Commencing the operations from the cottage industry, Toddler treasure has now become manufacturing company. The CFO of the company has adopted standard costing approach for the normal course of business. Using the standard approach, variance analysis needs to be done to determine the rate and ...
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CASE ANALYSIS
FinePrint Company
Case Analysis: FinePrint Company
Introduction
The purpose of this study is to expand the boundaries of our knowledge by exploring some relevant facts figures relating to the selection of best alternative for FinePrint Company. John Johnson, owner of FinePrint Company, is presented with two opportunities to consider:
whether to accept ...
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Accounting Analysis
Problem 3-7A
Accounting Equation
DatedAssets = Liabilities + Owners Equity
Oct 1IncreaseIncrease
Oct2IncreaseIncreaseIncrease
Oct3IncreaseIncreaseIncrease
Oct9No effect
Oct12Decrease
Oct13Increase
Oct17Increase
Oct23Increase
Oct24Increase
Oct26Decrease
Oct27Decrease
Oct30Decrease
Oct31Increase
Problem 3-8A
Journal Entries
Debit ($)Credit ($)
Cash 50000
Share Capital 50000
Rent Expense400
Cash400
Bank50000
Note Payable50000
Cash5000
Unearned Income5000
Prepaid Software10950
Cash10950
Billed Receivable12500
Service Income12500
Office Personnel Expense3000
Cash3000
Utility Bill Expense100
Cash100
General Ledger
Cash
50000
d) 5000 400
e) 10950
g) 3000
h) 100
Balance c/d 40550
Bank
50000
Share Capital
50000
Rent Expense
400
Note Payable
c). 50000
Unearned Income
5000
Prepaid ...
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FINEPRINT COMPANY
Case Analysis: Fine Print Company
Case Analysis: Fine Print Company
Introduction
FinePrint Company prints high-quality color brochures in its facility located in Charlottesville, Virginia. Currently, it has received a special order for the printing of 25,000 brochures from Abbie Jenkins and an offer for outsourcing the brochure printing services to ...
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FINANCIAL ACCOUNTING
Financial Accounting
Accounting - Analysis
Introduction
In IAS 1 - 2007 state the basis for the general purposes financial statements presentation. This is to ensure the comparability of both, the financial statements of entity of prior periods with the financial statements of the other entities. In this section, the entire ...
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CRITICAL ANALYSIS
Critical Analysis
Critical Analysis
1.Marginal Costing
Marginal costing can be defined as the cost that differentiates between the variable cost and the marginal cost. For example in case of a product's marginal cost, it is considered as a variable cost. The costs that are included are as of direct material, ...
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Understanding Financial Reports
Understanding Financial Reports
Boeing Aircraft
In the global aerospace industry, Boeing is one of the major players of the world. Boeing is one of the major contractors of Defense department of USA and NASA. Boeing has also undertaken operations in the US Air force on a number of occasions. The ...