1. Supply Missing Balance Sheet Numbers Check Figures: d: 337,500 f: $ 97,500
The Bookkeeper for Lowell's Country Music Bar left this incomplete balance sheet. Lowell's working capital is $90,000 and it's debt to assets ratio is 40 percent.
Assets
Current Assets
Cash $ 21,000
Accounts Receivable $ 42,000
Inventory $ __(A)_
Prepaid Expenses $ 9,000
Total Current Assets $ __(B)_
Long Term Assets
Building $ __(C)_
Less: Accumulated Depreciation $ 39,000
Total Long-Term Assets $ 210,000
Total Assets $ __(D)_
Liabilities and Stockholder's Equity
Liabilities
Current Liabilities
Accounts Payable $ __(E)_
Notes Payable $ 12,000
Income Tax Payable $ 10,500
Total Current Liabilities $ 37,500
Long-Term Liabilities
Mortgage payable $ __(F)_
Total Liabilities $ __(G)_
Stockholder's Equity
Common Stock $ 105,000
Retained Earnings $ __(H)_
Total Stockholder's Equity $ __(I)__
Total Liabilities and Stockholder's Equity $ __(J)__
Each question needs to be a minimum of 300 words. Each question needs at least two scholarly sources on the analysis topics, and must be included and cited in your work.
2. Why are externally presented reports required to be prepared according to generally accepted accounting principles while internally presented managerial accounting reports are not?
3. How can a misstatement in one financial statement, whether intentional or not, affect a presentation in another financial statement? Give an example of an error that occurs on one financial statement and the error flows through to a second financial statement.
4. Conduct some research on the relationship between price and perceived value of a product or service. Discuss the relationship of price to value. Does a low price necessarily mean a better value? Give an example to illustrate your opinion. How can a firm offer good value in a mature market where price seems to be the only visible means of differentiation? Support your post with scholarly RESEARCH on price and value.