Net Income

Question 3: Explain why net income is different from the net cash provided by operations. (10 points)RubricsDescriptor 9-10 The student demonstrates an excellent understanding of theconcepts. 8-8.9 The student demonstrates a good understanding of the concepts. 7-7.9 The student demonstrates a fair understanding of the concepts. 6-6.9 The student demonstrates some, but insufficient understanding of theconcepts. 3-5.9 The student demonstrates insufficient understanding of the concepts.They may mention some relevant ideas or concepts, although it is clear that the relationship between them is not understood by the student.1-2.9 The student demonstrates insufficient understanding of the concepts and does not mention any relevant ideas or concepts.0 The student leaves the question blank or cheats.95% of the grade based on the approach, calculations and comments, and 5% based on the presentation and look & field of the spreadsheet. Points are at the end of each question.

Read more

Cost-Saving Measures

Research the generic substitution laws in the state where you live or intend to seek employment, and then address the following:In your initial post, indicate which state you researched, and then answer the questions below. Kansas should be the state.Do you think your state’s laws make it easier or harder for patients to obtain less expensive generic alternatives? Provide the rationale for your opinion, referencing your state’s law if applicable.Aside from generic medications, what are some other ways pharmacies can help patients save on costs?

Read more

Pro Forma

Reviewing the previous quarter’s financial statements will provide you with data to construct pro forma financial statements for Starbucks and make some basic projections. This week, you will be charged with constructing two pro forma financial statements and addressing some questions about your projections. The two financial statements will  include an Income Statement and Balance Sheet. To begin your assignment, download the Financial Forecasting Template. Part 1 Use Yahoo! Finance (Links to an external site.) or the EDGAR | Company Filings  (Links to an external site.)database to download the last 10Q from Starbucks into excel. Use the downloaded data to complete the Income Statement and Balance Sheet on the  appropriate tabs in the Financial Forecasting Template. Assume the  following: Sales will increase for the next quarter by the same percentage  increase from the previous quarter to the last reported quarter. For  example, if sales increased 8% from the last quarter to the current  reported quarter, you will use 8% as the sales increase for your pro  formas. For more information on Pro Forma read this: https://en.wikipedia.org/wiki/Pro_forma

Read more

Budget Variance

Read the scenario in the textbook and complete the activity below. Use Excel—showing all work and formulas—to complete the following: Prepare a flexible budget.  Compute the sales volume variance and the variable cost volume variances based on a comparison between the master budget and the flexible budget. Compute flexible budget variances by comparing the flexible budget with the actual results. Create a 6- to 8-slide presentation for the budget committee meeting. Complete the following in your presentation: Summarize the results of the sales volume and variable cost volume variances computations based on the comparison between the master budget and the flexible budget. Summarize the results of the flexible budget variances computations based on the comparison between the flexible budget and the actual results. Justify the favorable or unfavorable budget variances. Since this is a not-for-profit organization, address why anyone should be concerned with meeting the budget. Make recommendations for what can be done differently to stay on budget for future luncheons. Provide specific examples to support your recommendations. Cite references to support your assignment. Format your citations according to APA guidelines. For more information on Budget Variance read this: https://en.wikipedia.org/wiki/Variance_(accounting)

Read more

[SOLVED] Budgeting

Budgeting is a tool used by management for performing the functions of planning, coordinating, and controlling operations of a business. Our textbook, Managing Accounting Concepts, describes 2 main types of budgeting: static budgets and flexible budgets. Respond to the following in a minimum of 175 words: Differentiate between the 2 types of budgets. Provide an example of the type of business or company that would benefit from using a flexible budget. Provide support for your business selection and include the advantage for using a flexible budget over a static budget. For more information on Budgeting read this: https://en.wikipedia.org/wiki/Budget

Read more

[SOLVED] Costing Systems

The type of product a company produces affects the type of accounting system needed to determine product cost. The 2 most common types of costing systems are job-order costing and process costing. Respond to the following in a minimum of 175 words: Compare and contrast job-order and process costing systems. How can events in a job-order costing system affect financial statements? How can events in a process costing system affect financial statements? Provide specific examples for each type.For more information on Costing Systems read this: https://en.wikipedia.org/w/index.php?search=Costing+Systems&title=Special%3ASearch&go=Go&ns0=1

Read more

[SOLVED] Partnership Interest

1. What did your clients attempt to accomplish by setting up the transactions in the manner they proposed? b. What are your client’s chances of success if they go ahead with the transactions as plan in spite of the ruling?  2. Is the ruling correct in stating that no matter how the transactions are handled, other than as your clients proposed, the income tax will be the result? 3. If your clients decide to sell their partnership interest rather than going through with the proposed transactions: Can they alter the income tax results stated in the ruling by having the partnership use $60.000 of its cash to pay down the mortgage on the land in order to secure a release from the mortgage of 20% of the land, sell 20% of the land for a $200.000 note and mortgage to an unrelated third party, use the remaining cash to reduce current liabilities and then have able Bernstine, and Charles sell their partnership interest to Peters who would assume the remaining current liabilities and mortgage liabilities? For more information on Partnership Interest  read this: https://en.wikipedia.org/wiki/Partnership_accounting

Read more

[SOLVED] Net Sales

Assume that you are purchasing an investment and have decided to invest in a company in the smartphone business. You have narrowed the choice to Best Digital Electronics or Zone Network Electronics and have assembled the following data. Selected income statement data for the current year follows: Income StatementBest Digital     Zone Network      Net sales (all on credit) $467,200$569,400Cost of goods sold$203,000$242,000Interest expense$0$19,500Net income$72,800$95,400 Selected balance sheet data at the beginning of the current year follow: Balance SheetBest Digital     Zone Network      Current receivables, net $45,060$53,780Inventories$73,000$73,000Total assets$262,000$274,000Common stock $1 par (13,000 shares)$13,000   $1 par (18,000 shares)   $18,000 Selected balance sheet and market price data at the end of the current year follow: Best Digital     Zone Network      Current assets  Cash$ 27,000 $ 18,000 Short-term investments $ 38,520 $ 15,400Current receivables, net  $37,500 $ 44,500 Inventories$ 72,000 $ 103,000Prepaid expenses  $ 4,980 $ 6,100Total current assets $180,000  $ 187,000Total assets $300,000  $ 325,000Total current liabilities   $102,000 $95,000Total liabilities   $102,000 $ 143,000Common stock    $1 par (13,000 shares) $ 13,000  $1 par (18,000 shares)   $ 18,000  Total stockholders’ equity $198,000  $ 182,000Market price per share of common stock   $ 98.00$ 100.70  Your strategy is to invest in companies that have low price/earnings ratios but appear to be in good shape financially. Assume that you have analyzed all other factors and that your decision depends on the results of ratio analysis. Compute the following ratios for both companies for the current year and decide which company’s stock better fits your investment strategy. Assume all sales are on credit. Acid-test ratio Inventory turnover Days’ sales in average receivables Debt ratio Gross profit percentage Earnings per share of common stock Price/earnings ratio Please use the library for your research. Do not use sites such as Wikipedia or Investopedia as your sources. If you use a website, make sure you review APA guidelines as to how to properly format websites as a source. Minimum word requirement: 400; include a cover page and a separate reference page listing your sources in proper APA style. Minimum 2 sources For more information on Net Sales read this: https://en.wikipedia.org/wiki/Sales_(accounting)

Read more

[SOLVED] Physical Capital

Respond to the following in a minimum of 175 words: Innovation and physical capital are 2 of the 4 factors of production. Discuss some specific ways that 1 of the following laws increased the productivity of 1 or both of these factors of production:1862 Pacific Railway Act1956 Federal-Aid Highway Act1946 Federal Airport ActWhat other examples of economic concentration can you share? What are the risks and advantages to economic concentration? How has economic concentration influenced your industry? For more information on Physical Capital read this: https://en.wikipedia.org/wiki/Physical_capital

Read more

[SOLVED] CPA

You have been a CPA for many years and recently opened your own practice focusing on small businesses. You have a meeting with a client, Jack, who has an interesting career as a professional gambler. He makes about $100,000 per year and has won many tournaments on the circuit. He is considering entering the WSOP to play for “the bracelet.”As is standard procedure, you ask Jack for his taxes, and he says he hasn’t filed taxes since 2016 (meaning he has not filed 2017, 2018, and 2019, where 2019 is the current year), because he does not work, due to his time spent playing poker and attending tournaments. He actually says he is now concerned because his father said he should have been filing taxes, but he believed an accountant he met at a party, who after many, many martinis said he would not have to file taxes because this is a “hobby.”Your tasks: Jack makes good money now, but in 2017 he thinks he had losses and barely broke even in 2018. The first project Jack agrees to pay you for ($1300 max) is for a tax memo concerning this issue.1. Using an appropriate research tool, research to see if Gambling is income and subject to tax.2. Using an appropriate research tool, research to see if Jack does have to file or not.3. Assuming he does (regardless of the answer above), can you still file a return he has not filed previously in 2017 and 2018?Using the information above, write the memo using the header below: ===================================================================================== To:  File From:  [Name] Sbj:  Deductibility of Property Taxes under Code Section [Code Section] for the 2020 Tax Year.  For more information on CPA  read this:https://en.wikipedia.org/wiki/CPA

Read more
Enjoy affordable prices and lifetime discounts
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Order Now Order in Chat

We now help with PROCTORED EXAM. Chat with a support agent for more details