Question: Read note 2 s to Rogers financial statements called Use of
Read note 2(s) to Rogers' financial statements called "Use of Estimates." Why do you think this note is included in the statements? How does it help stakeholders? What does the note caution stakeholders? Do you think Rogers' financial statements would be more useful if there were no estimates? Explain. What are some estimates Rogers' management would have to make with respect to revenue and revenue recogniton?
Answer to relevant QuestionsNew customers to Rogers' cable service pay installation and activation fees at the outset of their contracts. How does Rogers account for these fees? Explain why this treatment does or doesn't make sense.How do the Toronto Blue Jays (which Rogers owns) recognize revenue from home game admissions? Explain by referring to the revenue recognition criteria why this treatment makes sense. If a fan purchases Blue Jays season ...How is it possible that an entity can have too much cash? Why is the amount reported on a balance sheet for receivables usually not the same as the sum of the amounts that customers and other people who owe the entity money have promised to pay? What are the costs and benefits of allowing customers to return merchandise? How should returns be accounted for? What is the impact of returns on the income state ment and balance sheet?
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