Shark tank | Accounting homework help

Watch the following video:

Watch this video about Mega Hair, a company that is going on  “Shark Tank” to pitch their hair growth product. On 3/31/20xx, Mega Hair is jointly owned (50% each) by Jeff (Owner #1) and Violet (Owner #2).

Video Link: https://player.vimeo.com/video/263378400

(As you watch the video, collect the following quantitative data:)

A.) How does Mega Hair propose to use the cash if they receive an offer (what accounts will be impacted)?

B.) Offer 1 from Barbara:

C.) Offer 2 from Lori:

 

1.) Analyze/assess  quantitative (numbers #) to help make the investment decision in order  to better understand how each offer would generally (I know you do not have the full financial information yet) impact the financial statements of the organization initially and over time,

  • Offer #1 from Barbara 
    • list one (1) impact and one (1) account for the Income Statement AND one (1) impact and one (1) account for the Balance Sheet 
  • Offer #1 from Lori 
  • list one (1) impact and one (1) account for the Income Statement AND one (1) impact and one (1) account for the Balance Sheet 

Example – an impact  to the Income Statement could be increased sales, which will impact the  revenue account. An impact to the Balance Sheet could be increased cash,  which would impact the cash account. (Do not Reuse either of these examples)

2.) Consider qualitative information about investors and recommend which offer to accept (I know you do not have the full financial information yet).  

Barbara Corcoran’s credits include straight D’s in  high school and college and 20 jobs by the time she turned 23. It was  her next job that would make her one of the most successful  entrepreneurs in the country: She borrowed $1,000 and quit her job as a  waitress to start a tiny real estate company in New York City. Over the  next 25 years Barbara would transform that $1,000 loan into a $5 billion  real estate business, building the largest and best-known brand in the  business.

Lori Greiner started with one idea and turned it  into a multi-million-dollar international brand. She is regarded as one  of the most prolific inventors of retail products, having created over  500 products, and currently holds over 120 U.S. and international  patents. Lori can tell instantly if a product is a “hero or a zero,” and  this is clearly shown through her many thriving investments and a 90%  success rate on her new items launched. She’s also well known for her  impeccable negotiating skills and her uncanny ability to know and  identify emerging brands and invest in them.

Based on the information above and after watching the video which offer is best to choose and answer the questions below:

  • Which offer are you recommending – Lori or Barbara?
  • Why? Provide at least one (1) reason why you are recommending this offer.
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