5-35 Comprehensive Cash Budget (CMA adapted) (LO 4) GrowMaster Products,
a rapidly growing distributor of home gardening equipment, is formulating its plans for
the coming year. Carol Jones, the fi rm’s marketing director, has completed the following sales
forecast.
Month Sales Month Sales
January $ 900,000 July $1,500,000
February $1,000,000 August $1,500,000
March $ 900,000 September $1,600,000
April $1,150,000 October $1,600,000
May $1,250,000 November $1,500,000
June $1,400,000 December $1,700,000
Phillip Smith, an accountant in the Planning and Budgeting Department, is responsible for
preparing the cash fl ow projection. He has gathered the following information.
- All sales are made on credit.
- GrowMaster’s excellent record in accounts receivable collection is expected to continue,
with 60 percent of billings collected in the month after sale and the remaining 40 percent
collected two months after the sale.
Review Whole Foods Market, Inc’s 2010 Annual report, company information and investor information(see the link: Whole Foods Market, Inc. Investor Relations in the webilography) and write a 5-7 page paper following APA guidelines which addresses the following:
Summarize the company’s financial performance for 2010. Do you think they satisfied stockholder expectations? Why or why not?
Explain three business risks or threats that might threaten Whole Foods ability to accomplish their financial goals for the next 3 years. Use examples and references to support your response.
Describe three examples of control activities Whole Foods Market, Inc. could use to minimize these risks.
What is your overall impression of Whole Foods Market, Inc.’s annual report? Is it a financial accounting document or a managerial accounting document? Who is the target audience? Did the annual report present a positive or negative image of the company? Provide support for your responses.
Use the following f
Please see attached and complete
Gator Divers is a company that provides divers services such as underwater ship repairs to clients in the Tampa Bay area. The company's planning budget for March appears below.
Gator Divers
Planning Budget
For the Month Ended March 31
Budgeted diving-hours (q) . . . . . . . . . . . . . . . . . . . . . 200
Revenue ($380.00q) . . . . . . . . . . . . . . . . . . . . . . . . . . $76,000
Expenses:
Wages and salaries ($12,000 + $130.00q) . . . . . . 38,000
Supplies ($5.00q) . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000
Equipment rental ($2,500 + $26.00q) . . . . . . . . . . 7,700
Insurance ($4,200) . . . . . . . . . . . . . . . . . . . . . . . . . 4,200
Miscellaneous ($540 + $
1. (TCOs 2, 3, and 5) As we know, Congress devised a very broad definition of income and codified this definition in Section 61 of the Internal Revenue Code. Explain the Code’s definition of income and how it is generally applied to taxpayers. In particular, explain how the Code’s definition of income is different than other potential definitions of income, such as the economic concept of income, and use an example to illustrate the difference between the two systems. Explain how the Code approaches whether or not particular items should be included in income and how a taxpayer’s taxable income is generally determined under the Code. (Points : 25) 2. (TCOs 2, 4, and 5) We spent quite a bit of time this term learning about deductions. One of the important distinctions between various types of deductions that we examined was the distinction between “for AGI” and “from AGI” deductions. Explain how the names for these two types of deductions developed, as well as the fundamen
(TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for (TCO 1) Which of the following costs does not change when the level of business activity changes? (TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? (TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14.00 each. What is the budgeted fixed cost per unit? (TCO 1) Which of the following costs is not part of manufacturing overhead? (TCO 1) Product costs (A) are also called manufacturing costs (B) are considered an asset until the finished goods are sold. (c) become an expense when the goods are sold. (d) All of the above answers are co
(TCO 1) The Accounting Equation is used to develop the organizations financial reports. (1) Describe what liabilities are (10 points) and (2) provide an example of a liability account. (10 points) (TCO 1) The financial statements present a company to the public in financial terms. (1) Which financial statement identifies how well the company performed during the year (10 points) and (2) explain what information this financial statement provides. (10 points) (TCO 1) The accounting profession follows a set of guidelines for measurement and disclosure of financial information called the Generally Accepted Accounting Principles (GAAP). (1) Explain what the Entity Assumption is (10 points) and (2) provide an example of its application. (10 points) (TCO 2) Transaction analysis results in the development of a journal entry. A building is purchased for $35,000. (1) Name the accounts impacted and how using the format account name/debit or credit/dollar amount (10 points) and (2) explain how the
1-have to contain calculation in every slide with every point with the explanation
2- have to contain table of content