Starbucks Case 2 - Group 4

Multiple choice

Question 1-4

3 d ut of ious page Registration for GST favours a business because - Select one: it increases revenue as customers pay more for the products and services O it makes the tax reports easier to prepare there are no advantages to registering for GST O it allows a business credits for the GST it pays for business-related expenses

True or false 1. One of the most important differences between a service business and a retail business is in what is sold 2. In a merchandise business, sales minus operating expenses equals net income

Muscat Pharmaceutical Manufacturing Company is a company devoted to manufacturing and exporting of veterinary medicine and veterinary products. Its accounts are prepared in such a way that the revenue can only be recognized after it has been earned. If so, which one of the accounting concepts has been followed by Muscat Pharmaceutical Manufacturing Company? O a. Historical cost concept Ob. Realization concept O C Accrual concept Od. Matching Concept

Data needed: SFP Asset section 1. Cash 16.3% 2. AR 6.3% 3. Short term investment 0.2% 4. Inventory 2.2% 5. Prepaid expenses 0.4% 6. PPE 74.7% Data needed: SFP Liabilities and OE section. 1. Current liab 16% 2. Non-current liab 34.2% 3. OE 49.9% Data needed: SCI 1. COGS 38.6% 2. Selling and admin exp 6.8% 3. Interest exp 0.1% 4. Income tax exp 0.5% 5. Net income 54%

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Q 3. Which of the scale (i.e. Nominal, Ordinal, Interval or Ratio) will be used for measuring the following; Research items Identify use of the Scale 1. How many other organizations did you work for before joining this system? 2. How many retail outlets do you operate? 3. My job offers me a chance to test myself and my abilities. StronglyDisagrekleutraAgrestrongly Disagree 1 4. Doing this job well is a reward in itself. StronglyDisagreeleutraAgrestrongly Disagree 1 5.Which scale will be used for Ranking the personal computers with respect to their usage in your office, assigning the number 1 to the most used system, 2 to the next most used, and so on. If a particular system is not used at all in your office, put a 0 next to it. Note: Do not write on a paper and required a Agree 5 2 3 4 Agree 4 2 3 proper ans

Ma1. Question 11. Which of the following is not a catetory found in the Content Pane of Dynamics GP? Options: A.Cards B.Inquiry C.Print D.Reports   Question 12. The typical size of a business that is most likely to use MS Dynamics GP is options: A.Fewer than 50 employees B.250-500 employees C.2500 - 5000 employees D.More than 5000 employees   Question 13. Which of the following features allows you to view information about a customer and then begin entering an invoice for that customer? options: A.Lists B.Reports C.Inquiry D.SmartLists   Question 14. Which of the following statements is not true regarding the Navigation Pane?    options: A.You can choose not to show specific series/functions on the Navigation Pane B.You can change the order in which series/function areas appear on the Navigation Pane C.If you hide a series/function so it doesn’t appear on the Navigation Pane, it is removed from your Dynamics GP system D.It can be hidden in order to make the Content area larger…

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Select two companies that operate in the same industry, but compete very differently from each other. Compare and contrast in detail how and why the four V’s affect their operations.   Company 1 name & description: Bugatti   Company 2 name & description: Honda       Volume high/medium/low relative to company 2?   One Ops Implication:   Explain the implication:   Volume high/medium/low relative to company 1?   One Ops Implication:   Explain the implication:         Variety high/medium/low relative to company 2?   One Ops Implication:   Explain the implication:   Variety high/medium/low relative to company 1?   One Ops Implication:   Explain the implication:         Variation high/medium/low relative to company 2?   One Ops Implication:   Explain the implication:   Variation high/medium/low relative to company 1?   One Ops Implication:   Explain the implication:         Visibility high/medium/low relative to…

_______________might be chosen by a company because it is easier to read. The single-step income statement The classification income statement The multiple-step income statement The business function income statement

4. What is the difference between the SCI of a service entity from a merchandising entity? 5. What is the formula in computing Net Income (Loss) for Service Entities? 6. What is the formula in computing Net Sales? 7. What is the formula in computing Cost of Goods Sold?

What does it mean when a company has a major expense? Like for example, "The major expense for Dollar Tree Inc. is called Cost of Goods Sold, which represents the cost of the goods Dollar Tree sold to it's customers". But isn't expense a cost, it decreases net income? I did not understand this statement.

Rent expense of offices used for administration and management purposes Cost of functions / departments not directly involved in production such as finance department, HR department and administration department The examples of comprehensive income are gains or losses in hedging derivatives, translation of foreign currency exchange rate adjustments and unrealized gains and losses on postretirement benefits. REMINDER! If there are terms that you can't understand, feel free to contact and ask help from your teacher or guardian. 3 let's have an activity.. ACTIVITY 1. Now that you have read a brief discussion of our topic, let's check what you've learned. Identify each item. _1. It is compose of company name, the SCI title and the date starts with for the period ended (date) 2. These includes expenses incurred in delivering goods from the business premises to customers. 3. A financial statement that includes revenues, expenses, gains, and losses. _4. Statement of Comprehensive Income is…

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q(42 + 45)This multible choice question from ACCOUNTING PRINCIPLES I.just write for me the final answer.

True or False Questions Statements 1. Unlike merchandising companies, income statements of service companies include cost of goods sold as a line item. 2. The primary activity of manufacturing businesses is to purchase goods from a wholesaler and resell them. 3. Service companies include companies that provide health care, communication, banking, and other important benefits to society. 4. Merchandising companies, like service companies, do not have a Cost of Goods Sold account. 5. Period costs, such as office supplies, are expensed in the period they were incurred. 6. Product costs are first recorded as an asset in an inventory account and are expensed as cost of goods sold once the product is sold.

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* Question Completion Status: A Moving to another question will save this response. Question 3 Selling expenses DOES NOT include: O A. Delivering goods to customers O B. Accounting and Human Resources expense OC. Advertising expense D. Making sales Moving to another question will save this response.

31-Which of the following would normally be classified as a Selling expense of Merchandising business? a. Telephone expense of the office b. Insurance expense of the office c. Rent expense of the office d. Advertising expense

QUESTION 3 "A customer places an order for 10 bicycles to be customized with colour red and white for Bahrain's national day." In the Financial Accounting module of GKI, this total amount of this purchase order is inputted in? O a. Accounts payable O b. Financial accounting OC. Accounts receivable O d. Asset accounting QUESTION 4 Which of the following outcomes can negatively affect an enterprise's profitability: O a. Account Payable O b. Large scale projects O C. Lead time O d. Stock out Click Save and Submit to save and submit. Click Save All Answers to save all answers. hp

Superior Markets, Incorporated, operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below: Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total expenses Net operating income (loss) Selling expenses: Sales salaries Direct advertising General advertising* Store rent Depreciation of store fixtures Delivery salaries Depreciation of delivery equipment Total selling expenses Superior Markets, Incorporated Income Statement For the Quarter Ended September 30 Total $ 3,240,000 1,789,776 1,450,224 Administrative expenses: Store managers' salaries General office salaries* Insurance on fixtures and inventory Utilities Employment taxes General office-other* 882,360 413,640 1,296,000 $ 154,224 Total administrative expenses *Allocated on the basis of sales dollars. a. The breakdown of the selling and administrative expenses that are shown…