Advance Accounting

1) GENUINE MOTOR PRODUCTS Revised Pro forma Income Statement For 2007 Sales (1,000,000 units @ $30 per unit) Fixed costs Total variable costs (1,000,000 units @ $18.80 per unit) Operating Income (EBIT) Interest (10.75% x $12,000,000) Earnings before taxes Taxes (35%) Earnings after taxes Shares Earnings per share * Fixed costs include $2,800,000 in depreciation $ 30,000,000 5,800,000 18,800,000 5,400,000 1,290,000 4,110,000 1,438,500 2,671,500 2,320,000 1.15

Describe at least two (2) career options someone with an accounting education can pursue. Be sure to reference sources such as the Bureau of Labor Statistics and the American Institute of Certified Public Accountants.

Firm size |Sales per work |Compare to 1991 | |Large |$120,000 |gain 9% | |Medium |$84,000 |decline 11% | |Small |$80,000 |off 2% | |

1. Evidence from case: Exhibit 2, Revenues and Income from operations shows an increase from 10.6% in 2012- 19.5% in 2016. (Page C-100)

|Sales |107 2500.00 |1 222 650 |1 430 500.5 |1 673 685.6 |1 966 580.6 |

Customer A B C D E F Sales Revenue $600 $4200 $300 $2500 $4900 $700

This segmented shows a growth rate of 2,50% from 2007-2011. According to the information provided in the case, the sales of this business line should be declining at 6,25% per year not increasing. Therefore its sales should decrease in this percentage not increase as projected per Liedtke.

|Less: Taxes (Tax rate is 34%) | | 2,244,000 | 4,284,000 | 5,100,000 | 2,652,000 | 1,020,000 |

What is the amount of uncollectible accounts expense recognized in VIP's income statement for January?

Part II.  Refer to the latest annual financial statements for the two following companies: Apple:

2014,00 2010,00 Revenue Revenue Growth Production Costs Fixed Production Expense (excl depreciation) Variable Production Costs Depreciation Total Production Costs Selling, General & Administrative Total Operating Expenses 0,00 1250,00 1250,00 575,00 2035,00 152,20 2762,20 1155,00 3917,20 575,00 3403,80 152,20 4131,00 1735,00 5866,00 586,50 4290,60 152,20 5029,30 2102,20 7131,50 598,20 4669,00 152,20 5419,40 2270,30 7689,70 610,10 5078,40 164,40 5852,90 2452,00 8304,90 622,30 5521,30 177,50 6321,10 2648,10 8969,20 634,80 6000,30 191,70 6826,80 2860,00 9686,80 647,50 6518,50 207,10 7373,10 3088,80 10461,90 660,40 7078,80 223,60 7962,80 3335,90 11298,70 673,70 7684,70 241,50 8599,90 3602,80 12202,70 Operating Profit Operating Profit Operating

Net Revenues (IN BILLIONS) & Net Revenue Growth (PERCENTAGES) from Previous Year 16,680 $9.4 $7.8 $6.4 $5.3 $4.1

Inv. Sales                  $ 22,000    $ 30,000   $ 37,000   $ 43,000   $ 48,000    $ 49,000    $ 48,000     $ 43,000    $ 55,000   $ 49,000    $ 39,000     $ 45,000             Core & Serv.              $ 2000      $ 2000      $ 3000      $ 3000     $ 5000        $ 5000      $ 5000        $ 5000       $ 7000      $ 7000       $ 7000        $ 7000

|  |  |Whole Company |  |% of Revenue |Teajon Branch |  |% of Revenue |

During a year of operation, a firm collects Rs. 2,00,000 in revenue and spends Rs. 90,000 on raw materials, labor expense, utilities, and rent. The owners of the