QUESTION respond to discussion To compute the accounts receivable as a percentage of revenue for Starbucks and General Electric, we need to look at their most recent Annual Reports or Form 10-K filings. By taking the total for each year and dividing it by the total net revenue and multiplying it by 100 we get the percentages below. 2022 A/R Starbucks = 27.4% GE = […]

QUESTION respond to discussion Property and Equipment, Net The property and equipment are claimed at cost less accumulated depreciation and amortization, which are recorded on a straight-line basis over the useful lives of the assets. Amazon’s property and equipment vendors offer incentives that are recorded as reductions to the costs. Examples of the properties are buildings and land, which are both owned by Amazon, and […]

QUESTION Jim decides to start a small business that he runs himself as a sole trader. The following then occurs: 1.Capital of K20, 000 was introduced by the Jim. 2. Goods were purchased for K3000 for resale. 3. Sales of K4000 were made of goods that had cost K2500. 4. Rent was paid at a cost of K700. 5. A non-current asset was purchased for […]

QUESTION Instructions from the Accountant You have received an email from Joanne Bloggs with all of the following tasks to be completed for FY 2022: Check that the system is set to quarterly GST reporting on an Accruals basis. Add a new liability account for ‘Deductions: Union Fees’ using account code 865 Add a new expense account called ‘Workers Compensation’ using account code 495 You […]

QUESTION What is your opinion on this discussion? Please respond in three to five sentences only. Two primary legal concerns I might have when considering the terms and conditions of a fast-food franchise contract are: Intellectual property ownership and restrictions: The franchisor will typically own all intellectual property associated with the franchise, such as trademarks, copyrights, and trade secrets. This can limit the franchisee’s ability […]

QUESTION Assume that there are two firms competing for business in the same market producing a specialty chemical used in the polymer industry. They have identical cost structures and move simultaneously. The cost function of each firm is below: TCi = 500 + 3 qi + qi2, where i stands for either firm A or B The demand curve is defined as: P = 300 […]

QUESTION Lessor Company has a machine with a cost and fair value of $100,000 that is leases for a 10-year period to Lessee Company. The machine has a 12-year expected economic life. Payments are received at the beginning of each year. The machine is expected to have a $10,000 residual value to the end of the lease term. (Lessee is not guaranteeing the residual value.) […]

QUESTION Your client, Ms Teresa Green, would like assistance with her 2021-22 income tax return. At the interview, Teresa provides you with the following information: Details Amount ($) Gross Salary 85,000 Fully Franked dividends 3,600 Professional membership 800 Stationery (100% work related) 50 Telephone expense (total) 500 (50% was work related) Calculate Teresa’s net tax payable, including any offsets and Medicare Levy (Teresa did not […]

QUESTION Drill Master Corp. produces two products: saws and drills. Three activities are used in their manufacture. These activities and their associated costs and bases are as follows: Activity Budgeted Costs Activity Base Stamping $200,000 Machine hours Assembly 400,000 Labor hours Setup 36,000 Number of setups ​ Activity Base Saws Drills Total Machine hours 1,000 3,000 4,000 Labor hours 10,000 20,000 30,000 Number of setups […]

QUESTION Overview The Financial Accounting Standards Board (FASB) and Accounting Standards Update (ASU) sites provide important information for the accounting field. In this activity you will practice locating information in the Financial Accounting Standards Board (FASB) and Accounting Standards Update (ASU) sites. Discuss both the Accounting Standards Update and a Concepts Statement found on the Financial Accounting Standards Board (FASB) website. Follow the steps below […]