In August 2021, the founders of We are Marlow Corporation (Marlow) were considering the company’s future. Marlow was a direct-to-consumer (D2C), subscription-based business that sold lubricated tampon kits. The company was about to receive full approval from Health Canada to sell its products and the founders needed to shift their focus to a marketing strategy for their upcoming launch. They needed to decide on their target market and pricing scheme and how they would allocate their promotional budget to sell as many units as possible. The founders wanted a plan that would contribute to Marlow’s long-term sustainability and growth.
Vroom Inc. (Vroom) was a video conferencing technology company located in London, Ontario, Canada. The founder of Vroom was reviewing the company’s financial performance for its second fiscal year. He had already reviewed the company’s operating decisions over the past fiscal year and was now eager to review the company’s financing and investing transactions.
The owner of a tennis ball manufacturer was reviewing the company's financial performance for its third fiscal year. The bookkeeper had already recorded the fiscal 2020 cash transactions, but may have done so incorrectly. The owner recorded the opening balances, cash receipts, and cash disbursements to calculate the unadjusted trial balances for fiscal 2020. She started with the bookkeeper’s unadjusted trial balances and planned to use the balance sheet and the list of cash receipts and disbursements, if necessary. She would have to figure out where the bookkeeper posted each entry, determine whether it required an adjustment, and adjust accordingly.