For each item listed below, explain how the data can be useful to a company when...

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For each item listed below, explain how the data can be useful to a company when managing and reporting information about its liabilities and assets. 1. Information about how long it has taken to pay invoices from suppliers. 2. Data that can inform management about the amount redeemed each day from gift cards and the unused balance on every outstanding gift card. 3. Information identifying the difference between a quoted price for an inventory item from a supplier and the accounts payable set up when that inventory was actually purchased, along with the name of the individual who approved the purchase. 4. Information about the warranty work actually done on each item of inventory sold to customers. 5. Information that measures the effect of a change in interest rates on interest expense. 6. You learn that the average temperature in the server room has been higher than recommended and the useful life of the servers is now shorter than expected. What impact will this have on the current year's financial statements? 7. The assembly line in the manufacturing plant consists of 10 machines, all of which have the same useful life and no residual value. New data received indicate that three of the machines on the assembly line are used 40% less than the other machines. What decisions should be made with this new information? 8. Data received indicate that one machine on the assembly line has significantly more repairs than any of the other machines. What decisions should be made with this new information? For each item listed below, explain how the data can be useful to a company when managing and reporting information about its liabilities and assets. 1. Information about how long it has taken to pay invoices from suppliers. 2. Data that can inform management about the amount redeemed each day from gift cards and the unused balance on every outstanding gift card. 3. Information identifying the difference between a quoted price for an inventory item from a supplier and the accounts payable set up when that inventory was actually purchased, along with the name of the individual who approved the purchase. 4. Information about the warranty work actually done on each item of inventory sold to customers. 5. Information that measures the effect of a change in interest rates on interest expense. 6. You learn that the average temperature in the server room has been higher than recommended and the useful life of the servers is now shorter than expected. What impact will this have on the current year's financial statements? 7. The assembly line in the manufacturing plant consists of 10 machines, all of which have the same useful life and no residual value. New data received indicate that three of the machines on the assembly line are used 40% less than the other machines. What decisions should be made with this new information? 8. Data received indicate that one machine on the assembly line has significantly more repairs than any of the other machines. What decisions should be made with this new information?

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The management needs information to make decisions regarding how to manage the business affairs assets and liabilities of business and report them thr... View the full answer