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To: KyrosL who wrote (20955)7/8/2002 3:02:53 PM
From: Box-By-The-Riviera™  Respond to of 74559
 
all of their numbers would have to be adjusted from the top down if that were the case.. somebody here who knows fasb might want to address that...

if however, they booked some interest income off the float while holding the taxes.. but that would not go on the top line before COGS.

never mind.. we're beyond the point now.

AC will show up and address it soon.



To: KyrosL who wrote (20955)7/8/2002 3:43:27 PM
From: Raymond Duray  Read Replies (1) | Respond to of 74559
 
Yes, you are wrong.

Look at any retailer's annual report under the section "Summary of Accounting Policies". You will find a statement similar to

"Retail Sales Retail sales include merchandise and services, net of returns, and exclude sales taxes.

Source:

Short & Welsch - "Fundamentals of Financial Accounting". (Sixth Edition) p. 815.

"""""""""""""""""""""""""""""""""""""""""""""""""""""
Do you always simply blow smoke? This country is getting fed up with bullshit artists. You are going out of style.

-Ray