Under what circumstances would a company need to estimate their inventory?
What are the differences between using the gross profit and retail inventory
method for estimating inventory? Which method of estimation, gross profit or
retail inventory, is best?
What are the differences between a direct-financing and a sales-type lease for a lessor? Why would a lessor provide direct-financing to a lessee? What types of organization's provide direct-financing leases?
Direct financing leases is used by a lesse when
Starbucks Corporation Daisy Nunez University of Phoenix Acc / 422 November 19, 2012 Instructor: Richard Burden
Starbucks Corporation Starbucks Coffee Company was established in the year of 1971, in Seattle's Pike Place Market, where they were able to sell
Problem E 8-25
Date December 31,2007 December 31,2008 December 31,2009 December 31, 2010 December 31,2011 December 31,2012
Ending Inventory (End-of-Year Prices) 80,000 111,300 108,000 122,200 147,000 176,900
Price Index (percentage) 100 105 120 130 140 14
Which of the following is the most important for an organization to manage: cash, receivables, or inventory? Why? Is one more susceptible to fraud and errors than the other? Explain your answer. How would a misstatement in each affect the organization? Ea
What is the purpose of depreciation? Does the book value of a fixed asset (cost minus
accumulated depreciation) tell a user what the asset is worth? Why or why not? Should the
financial statements reflect the value of fixed assets? Why or why not?
What are the criteria for classifying an item as a current liability? What are some examples
of current liabilities? Why is it important to classify a portion of long-term debt on a yearly
basis as a current liability? What is the implication of misclassi
BRIEF EXERCISE 4-1
ACCOUNT TITLE AND EXPLANATION
June 30 Supplies Expens