MGT 3101 Case IIIDue on December 10, 2015G SHOES LTD.G Shoes Ltd. (GSL) is an integrated manufacturer
MGT 3101 Case IIIDue on December 10, 2015G SHOES LTD.G Shoes Ltd. (GSL) is an integrated manufacturer
and retailer of moderately pricedhigh-fashion footwear, leather goods, and accessories. GSL is a public company listedon the Toronto Stock Exchange. GSL has stores in over 180 major Canadian shoppingmalls, and operates over 50 âboutiquesâ in larger retail stores. Until the current year,GSL had three retail stores in the United States.
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In general, operating results in 20X9have been disappointing, with lower same-store sales trends and higher costs acrossthe board.Preliminary operating results for 20X9 are shown in Exhibit 1. Details of accountingissues that must be resolved before the financial statements can be finalized are inExhibit 2.
MGT 3101 Case IIIDue on December 10, 2015G SHOES LTD.G Shoes Ltd. (GSL) is an integrated manufacturer
In particular, the company is discussing with the auditor whether the closureof the three U.S. retail stores, which occurred in March 20X9, can be accounted for as adiscontinued operation. Company management has asked that any quantitative analysisreflect two alternativesâtreating the closure as an unusual item, and then as adiscontinued operation.
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Order Paper NowMGT 3101 Case IIIDue on December 10, 2015G SHOES LTD.G Shoes Ltd. (GSL) is an integrated manufacturer
Draft financial statements reflect the unusual item treatment. Inaddition, no accounting recognition has been given to stock options outstanding orgranted during the year, as valuation estimates were not complete when the draftfinancial statements were prepared. This information has recently been provided.Finally, EPS calculations for 20X9 have not yet been made.Required:
MGT 3101 Case IIIDue on December 10, 2015G SHOES LTD.G Shoes Ltd. (GSL) is an integrated manufacturer
Analyze the accounting issues as identified, and prepare revised draft statement ofcomprehensive income, and EPS calculations.At the end of the year, the market price of subordinated voting shares was $11.25,and had been stable for most of the year. Any recorded compensation cost is apermanent difference for tax purposes and will not change recorded tax amounts.5. In March 20X9, GSL announced that it would close its U.S. retail operation,consisting of three retail stores. The store had been a separate division of the https://charteredessay.com/mgt-5000midterm-exama%c2%80%c2%a6-summer_prepare-answers-to-8-of-the-following-you-can-use-excel/
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