[SOLVED] Sales Manager

Breakeven Points 1.- The purchasing manager for Forster’s Fashion Bags has been able to purchase the materials for its signature handbags for $3 less per bag. If everything is kept the same, what effect would this reduction in material cost have on the breakeven point for Forster’s Fashion Bags? 2.- Now, assume that the sales manager decides to reduce the selling price of each handbag by $3. What would be the net effect of both changes be on the breakeven point in units for Forster’s Fashion Bags? 3.- Would you recommend a different approach to the purchasing manager if the results are not favorable to the organization? Please explain. For more information on Sales Manager read this:https://en.wikipedia.org/wiki/Sales_management

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[SOLVED] Pacific Commerce Bank

Hugo Medical Supply has applied for a loan. Pacific Commerce Bank has requested a budgeted balance sheet as of April 30 and a combined cash budget for April. As Hugo Medical Supply’s controller, you have assembled the following information:  March 31 equipment balance, $52,600; accumulated depreciation, $41,300  April capital expenditures of $42,400 budgeted for cash purchase of equipment  April depreciation expense, $700  Cost of goods sold, 60% of sales  Other April operating expenses, including income tax, total $14,200, 35% of which will be paid in cash and the remainder accrued at April 30  March 31 owners’ equity, $92,600  March 31 cash balance, $40,300  April budgeted sales, $90,000, 70% of which is for cash. Of the remaining 30%, half will be collected in April and half in May.  April cash collections on March sales, $29,100  April cash payments of March 31 liabilities incurred for March purchases of inventory, $17,300  March 31 inventory balance, $29,200  April purchases of inventory, $10,700 for cash and $36,300 on credit. Half of the credit purchases will be paid in April and half in May.  Requirements  Prepare the budgeted balance sheet for Hugo Medical Supply at April 30. Show separate computations for cash, inventory, and owners’ equity balances.  Prepare the combined cash budget for April.  Suppose Hugo Medical Supply has become aware of more efficient (and more expensive) equipment than it budgeted for purchase in April. What is the total amount of cash available for equipment purchases in April, before financing, if the minimum desired ending cash balance is $14,000? (For this requirement, disregard the $42,400 initially budgeted for equipment purchases.)  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; your textbook can be one of your sources.

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[SOLVED] Traded Company

You are a senior manager for the highly successful regional CPA firm of Fine, Dee, Evah, Dense, LLP(Fine). Since its inception nearly 30 years ago, Fine’s audit practice has exclusively consisted of auditing private and not-for-profit organizations. Recently, the partners have been considering an opportunity to audit a publically-traded company for the company your team has selected. The primary reason Fine has not heretofore ventured into auditing publically-traded companies is because of the potential risk and legal liability associated with auditing public companies. However, Fine has been a bit stagnant, business-wise, for the past few years, and some of the older and more risk-averse partners are beginning to retire. Consequently, the lure of the often-lucrative and prestigious opportunity to audit a public company has become too hard to resist, so the partners have decided to pursue the chance to audit this company.  On a beautiful early-September morning you are called into the senior partner’s office and told you and your team has been selected to lead the first-ever effort to audit a publically-traded company for Fine. You are honored, but also know auditing a public company is a bit more tricky and complicated than auditing private and not-for-profit organizations. Fortunately, the senior partner had a considerable experience early in his career with another firm in auditing public companies and told you he would be with you all the way.  Relieved, you asked him what he wanted you to do. He tossed you the most recent Form 10-K of the company you selected and gave you the following assignments:   Review and discuss the Form 10-K for the company you have selected.  Create a report that will have 4 sections.  I only need section 4 completed. The company I choose is American Express Section 4, Audit Tests The reading in Chapter 13 (p. 402-407) describes five types of audit tests of financial statements:  (1)  Risk Assessment Procedures (2)  Test of Controls (3)  Substantive Tests of Transactions (4)  Analytical Procedures (5)  Tests of Details of Balances. In 350- to 700-words: Identify which tests are best suited for the company you selected and why.  Explain why some tests are not suitable.

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[SOLVED] Fraud Article

Research an article in the University Library or from another credible source. The article should be about a recent accounting fraud incident within a company. Summarize the article in 350 to 525 words. Describe any measures you believe could have been used to avoid the problems presented in the article. Submit your assignment in a Microsoft® Word document.

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[SOLVED] Planning Audit

 DETECTING FRAUD – PLANNING AN AUDIT See the “The Leslie Fay Companies” case (Links to an external site.) Prepare common-sized financial statements for Leslie Fay for the period 1987- 1991. For that same period, compute for Leslie Fay the ratios shown in Exhibit 2.In addition to the data shown in Exhibit 1 and Exhibit 2, what other financial information would you have obtained if you had been responsible for planning the 1991 Leslie Fay audit? As a result of this financial review, what financial statement items do you believe should have been of particular interest to BDO Seidman during that firm’s 1991 audit of Leslie Fay? Explain.

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[SOLVED] Cost-Volume-Profit

  Cost behavior and Cost-volume-profit analysis  In this discussion, please address the following statements;1.- Gouda Company and Cheddar Company had the same sales, total costs, and income from operations for the current fiscal year; yet Gouda has a lower break-even point than Cheddar. Explain the reason. 2.- Assuming Gouda is above the break-even point, what will happen for each unit sale? What are the areas that the company should focus on to ensure that they exceed their break-even points on a consistent year-to-year basis? For more information on Cost-Volume-Profit read this: https://en.wikipedia.org/wiki/Cost%E2%80%93volume%E2%80%93profit_analysis

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Importance of managerial accounting

Discussion on the importance of managerial accounting as a “decision-making tool” in your organization. 

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[SOLVED] Revenue Recognition and Accounting Methods

For this assignment you will submit a draft of the revenue recognition and accounting methods, summarizing the following critical elements: I. Memorandum, sections B, C, and D, and II. Conclusion, section C.You will determine revenue recognition and the economic impact of the client’s financial situation. Based on your decision, determine the potential tax liability, keeping in mind appropriate Internal Revenue Code and Treasury regulations. Submit this assignment as a Word document.As you are working through the cash/accrual and inventory issues this week for Milestone 2 please consider how the Tax Cuts and Jobs Act of 2017, generally effective for tax years beginning in 2018, has changed the rules.Here are links to articles from the Journal of Accountancy and Tax Advisor that summarizes changes to tax accounting for cash/accrual and inventory.

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[SOLVED] Full-Time Bookkeeper

Due Thursday As the full-time bookkeeper, your job is to make sure all transactions are recorded properly. If there is an error, each correction needs the reason for the change and the effect on each account, whether it is an increase or decrease.1.    What are some examples of transactions that would need to be recorded or journalized? 2.    Can you provide an example of a transaction and the journal entry from either Chapter 2 of our textbook or from your current employer?3.    Why is it important to accurately record the transaction you selected?4.    Suppose a co-worker has recorded a cash receipt twice and wants you to record a correcting entry that will reverse the mistakes. The correcting entry will record a credit to the Cash account and a debit to the Sales account. Your co-worker has offered to buy you dinner for fixing this mistake.5.    What should you investigate before making a decision about the correcting entry? What is happening to the Cash account? Would you accept a dinner offer from your co-worker for fixing the mistake? For more information read this:https://en.wikipedia.org/wiki/Bookkeeping

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[SOLVED] Incremental Cash Flows

 Identify and describe two (2) incremental cash flows from a proposed project such as expanding a product line or to launching a new product or service. 

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