The RD&I Division sold a production quality control service, on contract, to the other divisions at variable cost plus 10% and also contracted externally. RD&I was given a budget appropriation, for researching new products, which was not included in the calculation of its ROI. John Big's objective in decentralizing the corporate structure was to make each division operate and be evaluated as if it were an independent business. Corporate overhead was allocated to the divisions on the basis of a percentage of sales. The division managers were each allowed to make annual investments of not more than 5% of their divisional net assets on their own authority.
Case 13 – Occupy Mall Street References: • ASC 718-30-35-3 • ASC 718-30-35-15 • ASC 718-10-25-20 • ASC 718-20-55-50 • ASC 718-20-55-108 • ASC 718-10-25-1 • ASC 718-10-25-2 • ASC 718-10-55-61 • IFRS 2 Requirement 1 After granting 1,000 employee share options that cliff vest after a four year service period, Occupy Mall Street (OMS) are required to disclose certain compensation costs throughout the service period. Due to the fact that there are no expected forfeitures, the full amount of the fair value on the granting date will be factored into the calculation. ASC 718-30-35-3 states: “A public entity shall measure a liability award under a share-based payment arrangement based on the award’s fair value remeasured at each reporting
Sabrina Meryl LAW/421 June 28, 2012. Professor David Sabot University of Phoenix 1. At what point, if ever, did the parties have a contract? There was no contract at any point although there was an e-mail that existed outlining the terms there were not any signed confirmation binding a contract. The initial negotiation deal states that there would not be any distribution agreement/contracts if it was not in writing and signed by both parties.
As applied to this case, the exclusivity right does not begin its term of four years until the opening of the tour so the $5 million revenue should not be recognized until that opening date and it should be recognized evenly over the four year duration of the contract. The $3 million received to date should be accounted for as unearned revenue. The other two requirements are met since the $5 million fee is fixed and according to the facts provided, collectability of the remaining funs is deemed
Consider the following items and classify each as either (1) prepaid expense, (2) unearned revenue, (3) accrued expense, (4) accrued revenue, or (5) none of the foregoing. a Interest owed on the company's bank loan, to be paid in early July = 3 b Professional fees earned but not billed as of June 30 = 4 c Office supplies on hand at year-end = 5 d An advance payment from a client for a performance next month at a convention = 2 e The payment in part (d) from the client's point of view = 1 f Amounts paid on June 30 for a 1-year insurance policy = 1 g The bank loan payable in part (a) = 5 h Repairs to the firm's copy machine, incurred and paid in June = 3 2. Understanding the closing process. Examine the following list of accounts: Note Payable | Accumulated Depreciation: Building | Alex Kenzy, Drawing | Accounts Payable | Product Revenue | Cash | Accounts Receivable | Supplies Expense | Utility Expense | Which of the preceding accounts a. appear on a post-closing trial balance? Accounts receivable and payable, accumulated depreciation, cash, and note payable.
MAA705 Auditing T1 2013 Student:Chunwei Li -212008981 Qiao Zhang -211731543 Word count: 2207 Content Question 1..................................................................................................................................3 Question 2..................................................................................................................................5 Question 3..................................................................................................................................7 Reference..................................................................................................................................10 Question 1. Jia Chen has calculated profitability ratios using data extracted from his client’s pre-audit trial balance in 2012. Values for the same ratios for the preceding two years are based on audited figures. | |2012 |2011 |2010 | |Gross profit margin |0.45 |0.35 |0.40 | |Net profit margin |0.09 |0.15 |0.20 | 1.1 Make a list of possible explanations for the pattern observed in the gross profit and the net profit margins. This table shows that the different change about gross profit margin and net profit margin.
While TCS would underwrite the costs associated with planning the meeting and preparing the presentations, customers would be responsible for paying a fee to attend, as well as their own hotel and travel expenses to Nashville. “Ten weeks before the forum, we weren’t sure whether we would have 40 people or 140 people coming to Nashville.” Shared Jim Gordon, CEO of TCS. While TCS had previously done most of its own customer satisfaction research, given the time frame of the need, it turned to Nashville-based Prince marketing, who promised to design, conduct, and interpret survey results within 21 days. Three objectives were set for the phone survey: 1. Determine the likelihood
Olin School of Business Washington University in St. Louis-Fudan University EMBA Course # B62-741 Professor Anjan Thakor Spring (April) 2012 FINAL EXAM Instructions: 1) This is a take home exam. The total number of points is 100. 2) Answer all questions on the exam itself. 3) Explain all your steps (I can’t give you credit if I can’t understand how you arrived at your answer) unless you are explicitly instructed not to. 4) Good luck!
This was the initial amount invested by two of Neverfail founding employees. 4,796,000 shares of common stock were issued at $0.01 par value. After Angel Investment: According to the case, George Lawrence and another Seattle Angel acquired 800,000 shares of convertible preferred stock at $1 per share. This gives a total of $800,000. With this new development, if we assume that the previous 4,796,000 shares of common stock that were originally issued in March of 1993 are now also worth $1 per share, this gives a total of $4,796,000.
The party will be held on Friday, February 28, 2013, from 6:00 pm – 8:00 pm at The City Café, 1234 East Main St., Columbia, SC 29201. Also, as a surprise (keep this information on the down lo! ), we would like to give Joe a gift certificate for his upcoming travel adventures, and are asking that everyone contribute a minimum of ten dollars (cash only). Please respond by emailing me at bjohnson21@aol.com or calling (555) 555-5555 no