Questions from General Accounting

Q: Access Samsung’s 2013 annual report from its website (www.samsung

Access Samsung’s 2013 annual report from its website (www.samsung.com). Like Apple, Samsung offers warranties on its products. Required 1. Access and read footnote 18, “Provisions,” included in Samsu...

Q: Apple’s financial statements and notes in Appendix A provide evidence of growth

Apple’s financial statements and notes in Appendix A provide evidence of growth potential in its sales. Required 1. Identify at least two types of costs that will predictably increase as a percent of...

Q: Manufacturers and merchandisers can apply just-in-time (JIT

Manufacturers and merchandisers can apply just-in-time (JIT) to their inventory management. Both Apple and Google want to know the impact of a JIT inventory system for their operating cash flows. Revi...

Q: An accounting professional requires at least two skill sets. The first

An accounting professional requires at least two skill sets. The first is to be technically competent. Knowing how to capture, manage, and report information is a necessary skill. Second, the ability...

Q: Assume that you are preparing for a second interview with a manufacturing

Assume that you are preparing for a second interview with a manufacturing company. The company is impressed with your credentials but has indicated that it has several qualified applicants. You antici...

Q: Many contractors work on custom jobs that require a job order costing

Many contractors work on custom jobs that require a job order costing system. Required Access the website AMSI.com; click on “Construction Management Software,” and then on “starbuilder.” Prepare a o...

Q: Refer to the chapter opener regarding Quintin Middleton and his company,

Refer to the chapter opener regarding Quintin Middleton and his company, Middleton Made Knives. All successful businesses track their costs, and it is especially important for start-up businesses to m...

Q: Job order costing is frequently used by home builders.

Job order costing is frequently used by home builders. Required 1. You (or your team) are to prepare a job cost sheet for a single-family home under construction. List four items of both direct mater...

Q: Apple and Samsung are competitors in the global marketplace. Apple’s and

Apple and Samsung are competitors in the global marketplace. Apple’s and Samsung’s financial statements are in Appendix A. Required 1. Determine the change in Apple’s and Samsung’s inventories for th...

Q: Apple reports in notes to its financial statements that, in addition

Apple reports in notes to its financial statements that, in addition to its products sold, it includes the following costs (among others) in cost of sales: customer shipping and handling expenses and...