Huntington Bancshares Incorporated (NASDAQ:HBAN) recently acquired the Ohio-based FirstMerit Corp., further increasing Huntington’s market share across eight states in the Midwest: Ohio, Pennsylvania, West Virginia, Kentucky, Indiana, Michigan, Wisconsin, and Illinois. It is now the 33rd largest bank holding company in the United States, according to the Federal Deposit Insurance Corporation (FDIC) as of the […]
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Tag Archives: teaching accounting
How could the different inventory costing methods used by Best Buy, Amazon, and Target impact their respective income statements and balance sheets?
October 11, 2016 
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Three retailing giants, Best Buy Co., Inc. (NYSE: BBY), Amazon.com, Inc., (NASDAQ: AMZN), and Target Corporation (NYSE: TGT) each use a different inventory costing method. Best Buy uses weighted-average cost, Amazon uses FIFO, and Target uses LIFO. Here is a hypothetical example that highlights the potential differences in income statements and balance sheets that could […]
Continue readingHow do Facebook and Twitter’s current and debt ratios compare?
October 6, 2016 0 Comments
Facebook, Inc. (NASDAQ: FB), and Twitter, Inc. (NYSE: TWTR), are two of the most popular publicly-held social media companies. Both are relatively young companies; Facebook was founded in 2004, while Twitter was started in 2006. To follow are adapted and condensed balance sheets for both Facebook and Twitter as of December 31, 2015. Please note: […]
Continue readingWhat does Best Buy’s Form 10-K disclose about its receivables?
October 4, 2016 2 Comments
Best Buy Co., Inc. (BBY), the consumer electronics company, has a fiscal year ending on the Saturday nearest the end of each January. Since Best Buy is publicly-held, it files a Form 10-K with the Securities and Exchange Commission each year. To follow are Best Buy’s condensed and adapted balance sheets for the most recent […]
Continue readingWhat closing entries would Facebook make for fiscal year 2015?
September 27, 2016 0 Comments
Facebook, Inc., is a publicly held corporation and issued its financial statements for 2015 in mid-2016. To follow is a condensed and adapted trial balance as of December 31, 2015, that was constructed from those financial statements. Please note that the accounts have been adapted and condensed for educational use and should not be used […]
Continue readingHow would replacing a tattoo artist with a robot change the cost structure at a tattoo studio?
September 22, 2016 0 Comments
French artists Pierre Emm and Johan da Silveira have developed a prototype of a tattoo robot during an Autodesk-sponsored Pier 9 residency in San Francisco. There are several steps involved in the tattooing process when performed by a robot. First, a 3D scan of the targeted body part has to first be made. The tattoo […]
Continue readingWhen LoanMax loans cash to individuals with a 25% monthly interest rate, does it have a receivable or a payable AND is it an ethical practice?
September 20, 2016 0 Comments
Car title lenders are considered to be predatory lenders, since they charge high rates of interest to those individuals who can least afford it. Various laws in recent years have attempted to curb the high interest rates and these practices. Car title lenders still operate and some would argue that they fill a need in […]
Continue readingWould the cost of the football field constructed on Bristol Motor Speedway for the UT vs VT game be capitalized or expensed?
September 13, 2016 2 Comments
On September 10, 2016, a football game was played on Bristol Motor Speedway. The game was the University of Tennessee (UT) versus Virginia Tech (VT.) Bristol Motor Speedway hosts NASCAR races. About ten years ago, a plan began to come together to host the UT vs. VT game at the track, since it is located […]
Continue readingWhat steps are in the value chain for pumpkins grown and sold by Beckwith Orchards?
September 8, 2016 0 Comments
Beckwith Orchards is a family owned and operated farm and store that has been in the Beckwith family since 1878. It grows and sells a wide variety of produce, including apples, peaches, pears, gourds, and pumpkins. Each year, it plants a variety of pumpkins. In addition to the common orange oval pumpkin used to carve […]
Continue readingHow will Toro account for its two-for-one stock split?
September 6, 2016 0 Comments
The Toro Company (TTC) is a manufacturer of lawn care products such as lawn mowers and irrigation systems. Toro’s brands include Toro, Lawn Genie, and Lawn-Boy. Toro’s fiscal year end is October 31. As of October 31, 2015, Toro had authorized 175,000,000 shares of common stock. As of this same date, it had 54,650,916 shares […]
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