Homework Answers
The Answer is Revenue Recognition
Explanation:
1) Revenue Recongnition is the basic accounting principle which is followed irrespective of areas of usage.So, This is used both at accounting and tax purposes.
2) Remaining options are differs based in tax and accounting purposes. So, There are incorrect.
Add Answer to:
Canada Customs and Revenue Agency does not require a corporation to use the same reporting principles...
Please do both E3-31B. (Learning Objectives 2, 3: Apply the revenue and expense recognition principles; adjust...
Please do both
E3-31B. (Learning Objectives 2, 3: Apply the revenue and expense recognition principles; adjust the accounts) Englewood Corporation experienced four situations for its supplies, Calculate the amounts that have been left blank for each situation. For situations 1 and 2. journalize the needed transaction. Consider each situation separately. 1 $1,500 2 700 400 3 700 $ S $1,000 800 Situation Beginning supplies... Purchases of supplies during the year........ Total amount to account for ..... Ending supplies............... Supplies Expense...
I ONLY NEED THE BALANCE SHEET PLEASE Version 1 Company -Matisse Company Reporting Year - 2016 (Corporation Uses a Calendar Year Jan. 1 through Dec. 31st List of Accounts Common Stock, Total D...
I
ONLY NEED THE BALANCE SHEET PLEASE
Version 1 Company -Matisse Company Reporting Year - 2016 (Corporation Uses a Calendar Year Jan. 1 through Dec. 31st List of Accounts Common Stock, Total Dividends Other Expense Trading Securities Sales Tax Payable Purchase Discounts General Expense Rent Revenue Purchase Returns & Allowances Accounts Payable Interest Payable (Current) Estimated Warranty Liability Deferred Income Tax Unearned Revenue Capital Lease Obligation O.G 132.00 8S 982. CD $1,200.0 135.00 1949.00 2.000.OO 2.245.00 of Chapter Material Hll...
i need the income statement and balnce sheet only....please help!!! Version 1 Company -Matisse Company Reporting Year- 2016 (Corporation Uses a Calendar Year Jan. 1 through Dec. 31st List of...
i
need the income statement and balnce sheet only....please
help!!!
Version 1 Company -Matisse Company Reporting Year- 2016 (Corporation Uses a Calendar Year Jan. 1 through Dec. 31st List of Accounts Common Stock, Total Dividends Other Expense Trading Securities Sales Tax Payable Purchase Discounts General Expense Rent Revenue Purchase Returns & Allowances Accounts Payable Interest Payable (Current) Estimated Warranty Liability Deferred Income Tax Unearned Revenue Capital Lease Obligation 8S 132.00 苓982. CO $1,200.0 1315.00 2.000.0O Chapter Material of Education redesigned...
1,2,3,5,8,10,11 QUESTIONS What are the two ty cachay is land different from other plant assets? yo...
1,2,3,5,8,10,11
QUESTIONS What are the two ty cachay is land different from other plant assets? yo major types of long-term assets that require a periodic write-off? Present examples for each type of asset the term that denotes the periodic write-off to expense. is what amounts constitute the acquisition cost of plant assets? ny bought land with a vacant building for $400,.000. Foss will use the building in its opera- oss allocate the purchase price between the land and building? Why...
Give at least two points that a working accountant will find useful (using complete sentences). THE...
Give at least two points that a working accountant will
find useful (using complete sentences).
THE BOTTOM Changes to Revenue Recoqnition Requirements By Quinn R. Martin, Matthew J. Frazier and Michael J. Devereux Revenue is considered one of the most important financial statement measures. It is used to assess a company's past financial performance, fut ure growth potential and finan- cial well-being. This makes revenue recognition one of the accounting topics most scrutinized by business owners. The Accounting Standards Codification...
Integrated marketing communications require a company’s mass-market advertisements, Web site, e-mail, and personal selling communications to...
Integrated marketing communications require a company’s mass-market advertisements, Web site, e-mail, and personal selling communications to all have: - equal portions of the advertising budget - separate marketing objectives - the same target audience - the same message, look, and feel Which best explains why companies often fail to integrate their various communications to consumers? - Historically, consumers have been able to distinguish between message sources. - Communications often come from different parts of the company. - Public relations is...
CT2.1. Financial Reporting FINANCIAL REPORTING PROBLEM: Apple Inc. The financial statements of Apple Inc. are presented...
CT2.1. Financial Reporting FINANCIAL REPORTING PROBLEM: Apple Inc. The financial statements of Apple Inc. are presented in Appendix A at the end of this textbook Instructions Answer the following questions using the financial statements and the notes to the financial statements. (a) What were Apple's total current assets at September 27, 2014, and September 28, 2013? (b) Are the assets included in current assets listed in the proper order? Explain. (c) How are Apple's assets classified? (d) What were Apple's...
What image does it intend to convey? What messages are being communicated to the shareholders? Assess...
What image does it intend to convey? What messages are being
communicated to the shareholders? Assess the financial strength of
the company and list three audit risk factors you have identified
which may require audit attention.
Please answer the question!
EW Balance Sheets (Dec 31 (Dec 31 (Dec 31 (Dec 31 (Dec 3 (Annual, GAAP in 2018) 2017) 2016) millions $) 2018 2017 2016 2015 2014 ASSETS Cash & cash equivalent 714.10 818.30 930.10 718.40 653. Cash, Cash eqvivalents other...
Income Statement 2014 2015 2016 2017 Sales/Revenue 55.87B 55.36B 59.39B 62.76B Cost of Goods Sold (COGS)...
Income Statement
2014
2015
2016
2017
Sales/Revenue
55.87B
55.36B
59.39B
62.76B
Cost of Goods Sold (COGS) incl. D&A
20.52B
20.65B
23.43B
23.8B
COGS excluding D&A
11.97B
11.94B
15.64B
15.68B
Depreciation & Amortization Expense
8.55B
8.71B
7.79B
8.13B
Depreciation
7.38B
7.82B
6.27B
6.75B
Amortization of Intangibles
1.17B
890M
1.52B
1.38B
Gross Income
35.35B
34.7B
35.96B
38.96B
2014
2015
2016
2017
SG&A Expense
19.69B
19.84B
21.15B
20.62B
Research & Development
11.56B
11.95B
12.75B
13.14B
Other SG&A
8.14B
7.88B
8.4B
7.48B
Other Operating...
Oracle Corporation (ORCL) Income Statement All numbers in thousands Revenue 5/31/2018 5/31/2017 5/31/2016 5/31/2015 Total Revenue...
Oracle Corporation (ORCL) Income Statement
All numbers in thousands
Revenue
5/31/2018
5/31/2017
5/31/2016
5/31/2015
Total Revenue
39,831,000
37,728,000
37,047,000
38,226,000
Cost of Revenue
8,081,000
7,469,000
7,479,000
7,532,000
Gross Profit
31,750,000
30,259,000
29,568,000
30,694,000
Operating Expenses
Research Development
6,091,000
6,159,000
5,787,000
5,524,000
Selling General and Administrative
9,720,000
9,373,000
9,039,000
8,732,000
Non Recurring
-
-
-
-
Others
-
-
-
-
Total Operating Expenses
25,512,000
24,452,000
23,943,000
23,937,000
Operating Income or Loss
14,319,000
13,276,000
13,104,000
14,289,000
Income from Continuing Operations
Total...
Please do both
E3-31B. (Learning Objectives 2, 3: Apply the revenue and expense recognition principles; adjust the accounts) Englewood Corporation experienced four situations for its supplies, Calculate the amounts that have been left blank for each situation. For situations 1 and 2. journalize the needed transaction. Consider each situation separately. 1 $1,500 2 700 400 3 700 $ S $1,000 800 Situation Beginning supplies... Purchases of supplies during the year........ Total amount to account for ..... Ending supplies............... Supplies Expense...
I
ONLY NEED THE BALANCE SHEET PLEASE
Version 1 Company -Matisse Company Reporting Year - 2016 (Corporation Uses a Calendar Year Jan. 1 through Dec. 31st List of Accounts Common Stock, Total Dividends Other Expense Trading Securities Sales Tax Payable Purchase Discounts General Expense Rent Revenue Purchase Returns & Allowances Accounts Payable Interest Payable (Current) Estimated Warranty Liability Deferred Income Tax Unearned Revenue Capital Lease Obligation O.G 132.00 8S 982. CD $1,200.0 135.00 1949.00 2.000.OO 2.245.00 of Chapter Material Hll...
i
need the income statement and balnce sheet only....please
help!!!
Version 1 Company -Matisse Company Reporting Year- 2016 (Corporation Uses a Calendar Year Jan. 1 through Dec. 31st List of Accounts Common Stock, Total Dividends Other Expense Trading Securities Sales Tax Payable Purchase Discounts General Expense Rent Revenue Purchase Returns & Allowances Accounts Payable Interest Payable (Current) Estimated Warranty Liability Deferred Income Tax Unearned Revenue Capital Lease Obligation 8S 132.00 苓982. CO $1,200.0 1315.00 2.000.0O Chapter Material of Education redesigned...
1,2,3,5,8,10,11
QUESTIONS What are the two ty cachay is land different from other plant assets? yo major types of long-term assets that require a periodic write-off? Present examples for each type of asset the term that denotes the periodic write-off to expense. is what amounts constitute the acquisition cost of plant assets? ny bought land with a vacant building for $400,.000. Foss will use the building in its opera- oss allocate the purchase price between the land and building? Why...
Give at least two points that a working accountant will
find useful (using complete sentences).
THE BOTTOM Changes to Revenue Recoqnition Requirements By Quinn R. Martin, Matthew J. Frazier and Michael J. Devereux Revenue is considered one of the most important financial statement measures. It is used to assess a company's past financial performance, fut ure growth potential and finan- cial well-being. This makes revenue recognition one of the accounting topics most scrutinized by business owners. The Accounting Standards Codification...
CT2.1. Financial Reporting FINANCIAL REPORTING PROBLEM: Apple Inc. The financial statements of Apple Inc. are presented in Appendix A at the end of this textbook Instructions Answer the following questions using the financial statements and the notes to the financial statements. (a) What were Apple's total current assets at September 27, 2014, and September 28, 2013? (b) Are the assets included in current assets listed in the proper order? Explain. (c) How are Apple's assets classified? (d) What were Apple's...
What image does it intend to convey? What messages are being
communicated to the shareholders? Assess the financial strength of
the company and list three audit risk factors you have identified
which may require audit attention.
Please answer the question!
EW Balance Sheets (Dec 31 (Dec 31 (Dec 31 (Dec 31 (Dec 3 (Annual, GAAP in 2018) 2017) 2016) millions $) 2018 2017 2016 2015 2014 ASSETS Cash & cash equivalent 714.10 818.30 930.10 718.40 653. Cash, Cash eqvivalents other...
Income Statement
2014
2015
2016
2017
Sales/Revenue
55.87B
55.36B
59.39B
62.76B
Cost of Goods Sold (COGS) incl. D&A
20.52B
20.65B
23.43B
23.8B
COGS excluding D&A
11.97B
11.94B
15.64B
15.68B
Depreciation & Amortization Expense
8.55B
8.71B
7.79B
8.13B
Depreciation
7.38B
7.82B
6.27B
6.75B
Amortization of Intangibles
1.17B
890M
1.52B
1.38B
Gross Income
35.35B
34.7B
35.96B
38.96B
2014
2015
2016
2017
SG&A Expense
19.69B
19.84B
21.15B
20.62B
Research & Development
11.56B
11.95B
12.75B
13.14B
Other SG&A
8.14B
7.88B
8.4B
7.48B
Other Operating...
Oracle Corporation (ORCL) Income Statement
All numbers in thousands
Revenue
5/31/2018
5/31/2017
5/31/2016
5/31/2015
Total Revenue
39,831,000
37,728,000
37,047,000
38,226,000
Cost of Revenue
8,081,000
7,469,000
7,479,000
7,532,000
Gross Profit
31,750,000
30,259,000
29,568,000
30,694,000
Operating Expenses
Research Development
6,091,000
6,159,000
5,787,000
5,524,000
Selling General and Administrative
9,720,000
9,373,000
9,039,000
8,732,000
Non Recurring
-
-
-
-
Others
-
-
-
-
Total Operating Expenses
25,512,000
24,452,000
23,943,000
23,937,000
Operating Income or Loss
14,319,000
13,276,000
13,104,000
14,289,000
Income from Continuing Operations
Total...
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