Peter Sung has recently retired from the Coventry University, London and plans to set-up his own souvenir shop. He plans to invest £45,000 (£15,000 each in January, February, and April) in the new enterprise and has asked for your assistance to produce a cash budget as the bank has asked for that prior to approving his request for an overdraft facility for his business. The following has been budgeted for the first six months of the business:

costsVariable costs
January 13,0005,0003,500 7,0004,600
February 11,0004,0002,500 2,600
March 8,0006,0004,200 3,680
April 9,2007,1003,00014,0003,200
May 10,0005,8003,200 2,000
June 12,000 8,2004,000 3,000

The following additional information is available:
i.60% of each month sales are expected to be for cash. Credit customers pays a month in arrears.
ii. Suppliers offer a month credit on purchases and are paid on time.
iii. Wages, fixed costs and variable costs are paid in the month they are incurred.
iv. The bank balance as at 1 April 2019 is expected to be £2,480.

The following balance sheet for the los gatos corporation was prepared by a recently hired accountant. in reviewing the statement you notice several errors. los gatos corporation balance sheet at december 31, 2018 assets cash $ 44,000 accounts receivable 86,000 inventories 57,000 machinery (net) 122,000 franchise (net) 32,000 total assets $ 341,000 liabilities and shareholders' equity accounts payable $ 54,000 allowance for uncollectible accounts 7,000 note payable 59,000 bonds payable 112,000 shareholders' equity 109,000 total liabilities and shareholders' equity $ 341,000 additional information: cash includes a $22,000 restricted amount to be used for repayment of the bonds payable in 2022. the cost of the machinery is $194,000. accounts receivable includes a $22,000 note receivable from a customer due in 2021. the note payable includes accrued interest of $7,000. principal and interest are both due on february 1, 2019. the company began operations in 2013. income less dividends since inception of the company totals $37,000. 52,000 shares of no par common stock were issued in 2013. 200,000 shares are authorized. required: prepare a corrected, classified balance sheet. (amounts to be deducted should be indicated by a minus sign.)

Which example would the government consider as intellectual property? a. product design that contains a hologram of the logo of the company b. a copy of a famous artist’s painting in a new medium c. a plant species discovered in the united states for the first time d. a method of production that is common to an entire industry e. a discount structure offered to the customer at a store

In a recent annual report, apple computer reported the following in one of its disclosure notes: "warranty expense: the company provides currently for the estimated cost for product warranties at the time the related revenue is recognized." this note exemplifies apple's use of: (a) conservatism.(b) matching. (c) realization principle. (d) economic entity.