Question 3: Explain why net income is different from the net cash provided by operations. (10 points)RubricsDescriptor 9-10 The student demonstrates an excellent understanding of theconcepts. 8-8.9 The student demonstrates a good understanding of the concepts. 7-7.9 The student demonstrates a fair understanding of the concepts. 6-6.9 The student demonstrates some, but insufficient understanding of theconcepts. 3-5.9 The student demonstrates insufficient understanding of the concepts.They may mention some relevant ideas or concepts, although it is clear that the relationship between them is not understood by the student.1-2.9 The student demonstrates insufficient understanding of the concepts and does not mention any relevant ideas or concepts.0 The student leaves the question blank or cheats.95% of the grade based on the approach, calculations and comments, and 5% based on the presentation and look & field of the spreadsheet. Points are at the end of each question.
Research the generic substitution laws in the state where you live or intend to seek employment, and then address the following:In your initial post, indicate which state you researched, and then answer the questions below. Kansas should be the state.Do you think your state’s laws make it easier or harder for patients to obtain less expensive generic alternatives? Provide the rationale for your opinion, referencing your state’s law if applicable.Aside from generic medications, what are some other ways pharmacies can help patients save on costs?
Complete the two financial health activities (The True Cost of a New Car and The True Cost of Credit Card Use) presented in Unit 7 Topic “Financial Health” related to spending money you do not have. Share your experience with “The True Cost of a New Car” activity with your peers Change the size of the loan, years to pay it back, and the interest rate three (3) to four (4) times. Start with the lowest loan amount you might need for your new care and increase by $5000 to $10000 each turn. Start with a 3% loan (entered as .03) and increase by one (1) or two (2) percent each turn. In each case choose between 5 and 7 years to pay it back. Describe one of the monthly payments you would have to make based on your selections. Loan amount? Interest rate? Years to pay it back? Monthly payment? Does total car cost? Discuss the potential impact a car payment of that size might have on your monthly budget. Describe the other monthly expenses you would have to remove or reduce to make your payments. Why Is or isnt the car worth the sacrifices you might have to make given the size of the monthly payments? What other options do you have to avoid taking out a car loan? Share your experience with ” The True Cost of Credit Card Use” activity with your peers Consider the following scenario: You spend an extra $50 a month using a credit card for the first year after graduation to make ends meet. The interest rate charged by the credit card company is 18%. The minimum payment you are required to send each month is $20. Now consider the real cost of that $50 dollars a month by the end of that first year provided to you in the exercise. How might the continued use of a credit card to fund an extra $50 of spending per month affect your long-term financial health? Describe two ways you could avoid the long-term consequences of spending more than you have on a regular basis. Please be sure to validate your opinions and ideas with citations and references in APA format. For more information on Financial Health read this: https://en.wikipedia.org/wiki/Financial_health_management
Reviewing the previous quarters financial statements will provide you with data to construct pro forma financial statements for Starbucks and make some basic projections. This week, you will be charged with constructing two pro forma financial statements and addressing some questions about your projections. The two financial statements will include an Income Statement and Balance Sheet. To begin your assignment, download the Financial Forecasting Template. Part 1 Use Yahoo! Finance (Links to an external site.) or the EDGAR | Company Filings (Links to an external site.)database to download the last 10Q from Starbucks into excel. Use the downloaded data to complete the Income Statement and Balance Sheet on the appropriate tabs in the Financial Forecasting Template. Assume the following: Sales will increase for the next quarter by the same percentage increase from the previous quarter to the last reported quarter. For example, if sales increased 8% from the last quarter to the current reported quarter, you will use 8% as the sales increase for your pro formas. For more information on Pro Forma read this: https://en.wikipedia.org/wiki/Pro_forma
Read the scenario in the textbook and complete the activity below. Use Excelshowing all work and formulasto complete the following: Prepare a flexible budget. Compute the sales volume variance and the variable cost volume variances based on a comparison between the master budget and the flexible budget. Compute flexible budget variances by comparing the flexible budget with the actual results. Create a 6- to 8-slide presentation for the budget committee meeting. Complete the following in your presentation: Summarize the results of the sales volume and variable cost volume variances computations based on the comparison between the master budget and the flexible budget. Summarize the results of the flexible budget variances computations based on the comparison between the flexible budget and the actual results. Justify the favorable or unfavorable budget variances. Since this is a not-for-profit organization, address why anyone should be concerned with meeting the budget. Make recommendations for what can be done differently to stay on budget for future luncheons. Provide specific examples to support your recommendations. Cite references to support your assignment. Format your citations according to APA guidelines. For more information on Budget Variance read this: https://en.wikipedia.org/wiki/Variance_(accounting)
Budgeting is a tool used by management for performing the functions of planning, coordinating, and controlling operations of a business. Our textbook, Managing Accounting Concepts, describes 2 main types of budgeting: static budgets and flexible budgets. Respond to the following in a minimum of 175 words: Differentiate between the 2 types of budgets. Provide an example of the type of business or company that would benefit from using a flexible budget. Provide support for your business selection and include the advantage for using a flexible budget over a static budget. For more information on Budgeting read this: https://en.wikipedia.org/wiki/Budget
Bill Watts, president of Western Publications, accepts a capital budgeting project proposed by division X. This is the division in which the president spent his first 10 years with the company. On the same day, the president rejects a capital budgeting project proposal from division Y. The manager of division Y is incensed. She believes that the division Y project has an internal rate of return at least 10 percentage points higher than the division X project. She comments, What is the point of all our detailed DCF analysis? If Watts is panting over a project, he can arrange to have the proponents of that project massage the numbers so that it looks like a winner. What advice would you give the manager of division Y? For more information on Cost Accounting read this: https://en.wikipedia.org/wiki/Cost_accounting
1. What did your clients attempt to accomplish by setting up the transactions in the manner they proposed? b. What are your clients chances of success if they go ahead with the transactions as plan in spite of the ruling? 2. Is the ruling correct in stating that no matter how the transactions are handled, other than as your clients proposed, the income tax will be the result? 3. If your clients decide to sell their partnership interest rather than going through with the proposed transactions: Can they alter the income tax results stated in the ruling by having the partnership use $60.000 of its cash to pay down the mortgage on the land in order to secure a release from the mortgage of 20% of the land, sell 20% of the land for a $200.000 note and mortgage to an unrelated third party, use the remaining cash to reduce current liabilities and then have able Bernstine, and Charles sell their partnership interest to Peters who would assume the remaining current liabilities and mortgage liabilities? For more information on Partnership Interest read this: https://en.wikipedia.org/wiki/Partnership_accounting
The type of product a company produces affects the type of accounting system needed to determine product cost. The 2 most common types of costing systems are job-order costing and process costing. Respond to the following in a minimum of 175 words: Compare and contrast job-order and process costing systems. How can events in a job-order costing system affect financial statements? How can events in a process costing system affect financial statements? Provide specific examples for each type.For more information on Costing Systems read this: https://en.wikipedia.org/w/index.php?search=Costing+Systems&title=Special%3ASearch&go=Go&ns0=1
Assume that you are purchasing an investment and have decided to invest in a company in the smartphone business. You have narrowed the choice to Best Digital Electronics or Zone Network Electronics and have assembled the following data. Selected income statement data for the current year follows: Income StatementBest Digital Zone Network Net sales (all on credit) $467,200$569,400Cost of goods sold$203,000$242,000Interest expense$0$19,500Net income$72,800$95,400 Selected balance sheet data at the beginning of the current year follow: Balance SheetBest Digital Zone Network Current receivables, net $45,060$53,780Inventories$73,000$73,000Total assets$262,000$274,000Common stock $1 par (13,000 shares)$13,000 $1 par (18,000 shares) $18,000 Selected balance sheet and market price data at the end of the current year follow: Best Digital Zone Network Current assets Cash$ 27,000 $ 18,000 Short-term investments $ 38,520 $ 15,400Current receivables, net $37,500 $ 44,500 Inventories$ 72,000 $ 103,000Prepaid expenses $ 4,980 $ 6,100Total current assets $180,000 $ 187,000Total assets $300,000 $ 325,000Total current liabilities $102,000 $95,000Total liabilities $102,000 $ 143,000Common stock $1 par (13,000 shares) $ 13,000 $1 par (18,000 shares) $ 18,000 Total stockholders’ equity $198,000 $ 182,000Market price per share of common stock $ 98.00$ 100.70 Your strategy is to invest in companies that have low price/earnings ratios but appear to be in good shape financially. Assume that you have analyzed all other factors and that your decision depends on the results of ratio analysis. Compute the following ratios for both companies for the current year and decide which companys stock better fits your investment strategy. Assume all sales are on credit. Acid-test ratio Inventory turnover Days sales in average receivables Debt ratio Gross profit percentage Earnings per share of common stock Price/earnings ratio Please use the library for your research. Do not use sites such as Wikipedia or Investopedia as your sources. If you use a website, make sure you review APA guidelines as to how to properly format websites as a source. Minimum word requirement: 400; include a cover page and a separate reference page listing your sources in proper APA style. Minimum 2 sources For more information on Net Sales read this: https://en.wikipedia.org/wiki/Sales_(accounting)