Judgement Case 9-1 – Inventory costs; lower of cost or market; retail inventory method Requirement 1 Theoretically, Hudson should account for the warehousing costs related to its wholesale inventories as a part of inventory. All of the necessary costs associated with preparing, and in this case storing, items for sale are to be included in inventory. The key here is that the warehousing cost is related to a particular set of items and for that reason it is important to account for the warehousing cost with the inventory in order to satisfy the matching principle. The matching principle “requires that revenues and any related expenses be recognized together in the same period” (The matching principle). By following the matching principle all of the costs associated with a particular product, not just its wholesale price, is expensed when the item is sold.
2. Store pays headquarters for the goods sold. 3. HQ pays suppliers for the received goods. 4.
Define the price elasticity of demand and show how it is calculated. Answer: The units-free measure of the responsiveness of the quantity demanded of a good to a change in it s price when all other influences on buying plans remain the same. 3. What is the total revenue test? Explain how it works.
ISCOM 305 UOP Course Homework Aid (Systems Operations Management) Complete Course Week 1-5 All ASsignments and DQs Download Here: http://homework-aid.com/ISCOM-305-Complete-Course-Week-1-5-All-ASsignments-and-DQs-191.htm ISCOM 305 Week 1 Individual Assignment - Employee Data Collection Training 1. Individual Assignment: Employee Data Collection Training Your boss has asked you to help new employees understand uses of data in systems-operation management and the various statistical process controls they will experience on a daily basis. Create a 10- to 15-slide PowerPoint® presentation in which you describe 5 to 7 of the following terms: 1. Core competencies 2. Division of labor 3.
ACC 305 Week 11 Final Exam Purchase this exam here: http://xondow.com/ACC-305-Week-11-Final-Exam-Strayer-University-NEW-ACC305F.htm TRUE-FALSE—Conceptual 1. Leasing equipment reduces the risk of obsolescence to the lessee, and passes the risk of residual value to the lessor. 2. The FASB agrees with the capitalization approach and requires companies to capitalize all long-term leases. 3.
Running head: FAIR VALUE MEASUREMENTS Customer Inserts His/her Name Customer Inserts Grade Course Customer Inserts Tutor’s Name Date Part 1 a) The three alternative accounting treatments for the classification of financial assets and for the recognition of gains and losses arising from changes in fair value permitted by FAS 115 Under FAS 115, fair value is defines as the price that can be received upon disposal or paid to transfer liability through a transaction between buyer and seller at the measurement date. The three alternative accounting treatments for classification of financial assets and for recognition of gains losses arising from changes in value and permitted FAS 115 are: i) Assets held to maturity All
Calculate the PAYG instalment income and the instalment due to the ATO. Complete the BAS Summary boxes below. Using a general journal format, explain how the payment transaction would be recorded in the accounting system. Supplies you have made Total sales & income & other supplies including capital (GST inclusive) G1 Exports Other GST-free supplies Input taxed sales & income & other supplies ADD G2 + G3 + G4 G1 minus G5 G6 Adjustments (must be total transaction value, i.e. GST inclusive) ADD G6 + G7 Divide G8 by eleven G9 66 191 728 100 G2 G3 Acquisitions you have made Capital acquisitions (GST inclusive) All other acquisitions (GST inclusive) ADD G10 + G11 Acquisitions for making input taxed sales & income & other supplies Acquisitions with no GST in the price Total estimated private use of acquisitions + non-income tax deductible acquisitions ADD G13 + G14 + G15 G7 G8 0 728 100 G12 minus G16 Adjustments (must be total transaction value, i.e.
The second ratio measures the effect of interest; it indicates the proportion of earnings before interest and tax that is retained after paying interest. It should be considered together with the leverage component (assets/equity). The third ratio measures the company’s operating profit on sales; it can be broken down into subcomponents such as gross profit margin. Common-sized income statements can help with
Memo Message: Sales Type Leases FASB 13 defines a sales type lease as one that give rise to manufacturer of dealer’s profit or loss to the lessor and meet at lease one of the following criteria: The lease transfers ownership to the lessee at the end of the term. The lease contains a bargain purchase option. The lease term is equal to 75% or more of the estimated economic life of the leased asset. The present value at the beginning of the lease term equals or exceeds 90% of the fair value of the leased property. As the lessor of the trucks the client will be required to account for the sales type lease as follows: The difference between the gross investment in the lease in above
Consumer behaviour Week 1 introduction Consumer Behaviour is the acquisition, consumption, and disposition of goods, services, time and ideas by (human) decision making units (over time). Obtaining (purchase activities or acquisition) How you decide you want to buy, alternate products you might be considereing, gathering evaluating info, where you buy, how you pay for the product/purchase/transaction method, warranty etc Consuming (use activities) How you use the product, where on or off premise, how you store product, who uses the product, whn? Immediate or delayed consumption, how much you consume complete or partial consumption, how product compares with expectation Diposing (disposal activities) How you get rid of remaining