The bookstore chain has been decreasing in profit in the US over the past 20 years. Most of the books retailers are closing down their operations and only a few stores are operating in the country still. Barnes and Noble has converted itself into a powerful bookseller in the industry by positioning rapidity into web presence though eBook marketplace. This business strategy has helped the […]

on Financial Reporting 101.pdfX+XOO File | C:/Users/Shalane/Desktop/Financial%20Reporting%20101.pdf. .34of 43-+ | A) Read aloud | DrawVEraseAt 31 December 2019, the balances of the accounts in the general ledger of the partnershipwere as follows:DebitCreditRRCapital: Andre.45 000Capital: Floyd ….45 000Capital: Wlad ……45 000Current account: Andre .15 000Current account: Floyd ….10 000Current account: Wlad.8 000Goodwill…..24 000Trade payables control…140 000Furniture and equipment at carrying amount .340 000Accumulated depreciation: Equipment ……108 […]

Current Events Reports (3 for this course):These assignments are intended to:(a) increase your ability to research current events related to fraud,(b) increase your understanding of a particular type of fraud, and(c) provide an opportunity to critically evaluate articles about fraud.Please, use a local news report or perhaps the Internet to find a fraud case involving a type of fraud covered to date in the course. The submission should […]

Instruction: Answer All the questionsQuestion 1Doom Bhd manufactures and sells a single product. Cost data for the product are givenbelow:Variable costs per unit:Direct materialsRM 7Direct labourRM 10Variable manufacturing overheadRM 5Variable selling and administrative overheadRM 3Total variable cost per unitRM 25Fixed costs per month:Fixed manufacturing overheadRM315,000Fixed selling and administrative overheadRM245,000RM560,000The product sells for RM60 per unit. Production and sales data for July and August, that is,the […]

Mini Case S – Standard CostingRaw MaterialBeginningEndingInventoryInventoryInventoryUsedHarvest Sky Pie Company has a reputation for the best apple pies in Bruce county andApples7,550 kg6.325 kg?surrounding areas. Stacy started the company five years ago, baking pies at home, and hasBrown sugar10 kg5 kg615 kgexperienced wonderful success and growth ever since. The company now has three retail outletsDough35 kg45 kg195 kglocated in Meaford. Chatsworth, and Owen Sound, where […]

The following information has been reported by Laporte Inc. on its statements of financial position atDecember 31, 2016 and 2017, and on its statement of earnings for the year ended December 31, 2017.Amounts are in millions of dollars:Statements of Financial Position20172016Cash$ 130$ 88Accounts receivable5444Merchandise inventory4852Long-term investments38Property, plant, and equipment256220Accumulated depreciation(98)(116)Total assets$ 390$ 326Accounts payableS4478Income taxes payable2330Long-term borrowings10040Contributed capital155120Retained earnings68Total liabilities and shareholders’ equityS$ 326Statement of […]

The balances below were taken from the books of Level 100 – First Semester Enterprise as at 31/03/20GH¢GH¢Plant & Machinery at cost200,000Depreciation on P/M40,000Motor Vehicles40,000Depreciation on Vehicles16.000Trade Receivables / Payables90,00012,000Opening Inventory60,000Bank 72,000Capital280,000Purchases and Sales220,000400,000Salaries29,000Motor Expenses12,000Rates & Insurance3,000Loan Interest6,000General Expenses16,000748,000748,000You are given the following information:1. Closing stock has been valued at GH¢50,0002. There is a salary of GH¢ 2,000 due to the staff. 3. Motor Expenses a prepayment GH¢200. 4. Depreciate Plant and Machinery is 10% on cost and 25% on reducing Balance for Motor Vehicles.5. Bad […]

NICKEL ASIA CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF FINANCIAL POSITIONrange(Amounts in Thousands)Comrolasion OFFICEICTDARR 1 1 2019December 3180 3018 . 10TO REVIEW OF 2017ASSETSFORM AND CONTENTSCurrent AssetsCash and cash equivalents (Note 4)P10,784,369P9,635,514Trade and other receivables (Note 5)1,056,568905,125Inventories (Note 6)3,744,2743,502,414Financial assets at (Note 7):Fair value through other comprehensive income (FVOCI)2,608,301Fair value through profit or loss (FVTPL)1,420,718Amortized cost201,770Available-for-sale (AFS) financial assets (Note 7)5,925,682Prepayments and other current assets (Note 8)1,164,750929,703Total […]

Migrating to a new accounting information system is not an easy task. Many firms have struggled with this process, even though our textbook makes the process seem quite straightforward. Recently, IBM recapped some of the lessons learned in migrating to a new accounting information system within the federal government. These lessons can be applied to any accounting information system project. Others have developed their own […]

1. (Transaction Analysis)Analyze the effects of the following transactions on the accounting equations of the various funds and nonfund accounts of a state or local government. Identify the fund that typically would be used to record the transaction.Indicate how each transaction would be reported in the operating statement for each fund affected.Example: Cash received for licenses during 20X1, $8,000.Answer: Governmental Funds.           […]