Green Mountain Coffee Roasters Corporation was founded in year 1981 as a small caf in
Vermont. The Green Mountain Coffee Roasters Corporation combined its operations with Keurig
in 2006. GMCR and Keurig had to master various skills to acquire top position
In accounting there are multiple guidelines, procedures and principles accountants have to
follow in order to record revenue and expenses as well as other aspects in accounting the correct and
efficient way. There are several accounting principles that af
Receivables occur when a Firm sells goods or services to another party on account (on credit).
Receivables represent funds that a company is counting on collecting in the future. Accounts receivable,
The right to receive cash in the future from customers
In bookkeeping and accounting every transaction must be recorded into at least two accounts. If
only one side were recorded the transaction would be considered incomplete. The double entry
accounting system is based on the fact that every financial transa
There are different types of financial statements, all are done differently but are very beneficial
for business owners or whom they are made for. Balance sheets and trial balances are not the same. The
trial balance is an internal document that is used b
Accounting information system is a system that collects, records, stores, and processes
the accounting data to produce information that will be useful to the decision makes of a
company. Businesses must have a way to collect and store data for a large num
From the complex and international organizations to small nail salons, all business transactions
will have some type of impact financially to the corporation. Accountants recognize, measure, record,
and report information about a business transaction. In
Accounts are classified in a variation of ways in accounting. In accounting there are permanent
accounts and temporary accounts, each are handled differently. At the end of an accounting period, all
accounts are prepared for the next period. The permanent
E12A-36 (15-25 mi
Present Value of
Annuity Annuity of $1
for 5 years
$60000 x 3.605
Present Value of $1 at
12% for 5 years
EC-4 (10-15 min)
Partners' equity in the new partnership:
Transfer Simon's equity in the business to Alvin
Patnership Capital before Alvin is Admitted ($80,000+$48,000)
Capital after A
Long-Term Investment in Bonds ($600,000 x 1.06)
Purchased bond investment
Cash ($600,000 x 0.06 x 6/12)
To receive semiannual interest
Long-term investment in Bonds ($600,000
E12-20 (10-15 min)
Zoom Photographic Supplies, Inc.
Year Ended December 31, 2012
Discontinued Operations, income of
Income Before Extraordinary item
EC-5 (10-15 min.)
1. Ying's Capital
Because of the partnership agreement said Ying is going to receiv
2. Yang's Current Capital
Yang's Shared Assets ($75,000 x 3/5)
Yang's Capital at the start of month ($120,000-$45,000)
Consolidated Balance Sheet
December 31, XXXX
Cash and cash equivalents.
Short term investments
Accounts receivable, net
Total Current Assets:
Long-Term assets (Plant Assets, net) .
Other Long-Term assets .
E12A-35 (10-20 mi
Future Value of
Annuity of $1 at 10%
for 6 years
$2,000 x 7.716
Future Value of $1
at 8% for 6 years
$10,000 x 1.587
In the beginnin
EC-2 (15-20 min)
a. Half to each partner (Net loss)
Net Income (Net Loss)
b. Net Income Allocated based on capital balances:
Total Net Income
Sharing of first $84,000 of net income based on cap
$2,580 (300,000 yen x 0.0086)
Record purchase of inventory at fair value
$2,460 (300,000 yen x .0082)
Foreign exchange gain
$120 ($2,580 - $2,460)
Record payment to Sony
Lesson 2 Short Answers
1. Explain Opportunity Cost and provide an example. (5 points)
People make decisions/choices based off of what would give them the most value. The sacrifices
associated with the best alternative is what we call opport
Sept 01, 2008
1. Record the transaction in the general journal. Explanations are not required.
2. Prepare the retained earnings statement for the year ended December 31, 2012.
2. Prepare the stockholders' equity section
Click on the" Financial Statement" Tab and review the Income Statement
and Balance Sheet account balances.
The Indirect Method Statement of Cash Flows was prepared in
P13-30A. The completed Statement is presented on the
"St of Cash Flows - Indirect
1. What is the price elasticity of demand? How is the price elasticity of demand calculated?
According to Qatar Financial Center, price elasticity of demand is how demand responds to price
changes. According to Rutherford, Price elasticity
E11-25 (10-15 min)
($17,600,000 +12,100,000) / ($326,000,000 + $316,000,000) / 2) = .093 = 9.3%
($17,600,000 - $2,000,000) / ($180,000,000 + $172,000,000) / 2) = .089 = 9.9%
For the rate of return on total assets I believe that the number ab
P14-25A (45-60 min.)
(Dollars and stock quantities in thousands)
Build It Right
Days Sales in Ave
Sept 01, 2008
1. Record the transactions in the journal.
2. Prepare the stockholders' equity section of the C-Mobile Wireless balance sheet at December 31.
The ending balance of Retained earnings is $90,000.
1. Identify the different issues of stock that Tree has outstanding.
2. What is the par value of Tree's preferred stock?
3. Make two summary journal entries to record issuance of all the Tree stock for cash. Explanations are