Dec 7, 2015  accounting
Ethical Dilemmas in Business
Deliverable Length: 35 pages APA style
The Executive Compensation Committee of the Board of Directors has asked your CFO to develop a report of what has transgressed in the area of executive compensation in U.S. corporations to ensure that they are aware of what has happened in this area. Your CFO has asked you to develop a report that includes the areas of executive compensation, the complaints from employees, the rationale from the executives, and what the U.S. government has done about these complaints.
The student should write report to the CFO that addresses the following:
 Explain why you believe that employees are outraged about outlandish executive compensation while their own pay has been reduced.
 Describe your assessment of at least 1 example of compensation packages that appeared to be for the benefit of the executives, regardless of the cost.
 Analyze the rationale of executives in cases when their compensation package is outwardly perceived as excessive.
 Explain what the government has done in the attempt to curtail these apparent abuses in compensation.
 Recommend what you believe constitutes an ethical executive compensation plan.
 Include at least 3 properly researched facts as they apply to the debate of CEOs and excessive compensation.
 Follow APA guidelines in citing the references.
Dec 5, 2015  accounting
Property transfers and exchanges/ Testing methods
Property Transfers and Exchanges” Please respond to the following:
 After reviewing the scenario, explore the key exceptions that would prevent taxpayers from deferring the tax liability on inherited property and likekind exchanges. Identify at least two (2) types of property that are not considered likekind exchanges, and speculate on the reasons why they do not meet the requirements for consideration. Defend your position.
 From the eActivity, determine at least three (3) conditions that would prevent a likekind exchange classification, and speculate on the type of abuses the IRS is attempting to remedy with such a restriction(s). Defend your position
Testing Methods” Please respond to the following:
 According to the text, to minimize the risk of material misstatement, auditors seek third party verification of account balances by mailing customers their statements. Discuss the advantages of positive and negative confirmations, and ascertain whether or not email and oral confirmations are acceptable to increase customer response rates. Support your position.
 Discuss the difference between substantive test of transactions and substantive test of balances, and identify at least two (2) situations when an auditor should test account balances. Support your rationale with related examples of such circumstances.
Dec 5, 2015  accounting
Assume that you work for a large multinational telecommunications corporation in the U.S. that is considering establishing operations in another country. Select one country as the basis for exploring the possibility of starting a joint venture in that country. You are assigned by your supervisor to conduct a full country risk analysis for this country and the telecommunications industry in that country. You are to present your findings to the Board of Directors in the form of a risk analysis report.
Your supervisor has asked for you to divide your report into the following areas for analysis:
 Economic Risk
 Political Risk
 Business Environment Risk
 Currency Risk
 Recommendations for proceeding and suggestion of two additional financial analysis methods which could be used to further support the decision.
You are to conduct a country/industry risk report, identifying as many factors as possible in the categories listed above for the analysis. Present your findings in a report of 1012 pages.
In your report, you will make a recommendation to your supervisor as to whether or not the company should proceed with this venture. Suggest two additional financial analysis methods which should be explored further in analyzing the feasibility of starting the global joint venture. Explain your recommendations. The textbook suggests methods for doing a country analysis and there are several models that can be found on the Internet.
Dec 2, 2015  accounting
Partnership vs. Corporation
Use the partnership and corporate tax returns for the practice sets titled, “Pet Kingdom” and “ROCK the Ages, LLC” that you prepared in Weeks 3 and 5 in order to complete this assignment.
Write a four to five (45) page paper in which you:
 Compare and contrast the tax rules and treatment applicable to corporations and partnerships. Indicate the major way in which the tax treatment affects the shareholders or partners.
 Explain at least two (2) reasons why a business owner might opt to become a partnership over a corporation. Provide support for your rationale.
 Imagine that you are a partner at ROCK the Ages, LLC. Justify why you elected to become a partnership as opposed to a corporation. Indicate tax rules that influenced your decision.
 Imagine that you are the Chief Financial Officer at Pet Kingdom. Justify why your management team elected to become a corporation rather than a partnership. Indicate tax rules that influenced your decision.
 Analyze what a business owner must consider when deciding what type of entity is best for the goals and vision of the business. Provide at least two (2) examples of research the owner must perform to ensure the proper election is made. Provide support for your rationale.
 Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
 Be typed, double spaced, using Times New Roman font (size 12), with oneinch margins on all sides; citations and references must follow APA or schoolspecific format. Check with your professor for any additional instructions. Note: Please refer to the APA template in the course shell for more information on APA style.
 Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
Dec 2, 2015  accounting
Title : The most value relevant definition of free cash flow
Introduction
Body

What causes different calculations of Free Cash Flow definitions

Which FCF calculations(definition) is most associated with stock price changes

How can this definition of Free cash flow help to measure the performance(stock price) of the company

Which method is best in predicting a firm’s performance (Free cash flow, earnings or Operating cash flow) (explain why?)
Conclusion
It should be 15 pages long and include 45 footnotes on each page.. The paper should consist mostly of copy and pasted phrases from the 2 journal writings and from the other papers that you get from the reference page of these 2 journal. Include in every footnotes (mla footnotes) This is the most important part as my professor insist that the paper be copy and pasted from several sources, AND SHOULD be footnoted.
Aug 15, 2015  accounting
Acoounting week 1
 Identify the four basic financial statements.
 Describe the purpose of each of the four financial statements.
 Discuss how the financial statements would be useful to internal users such as managers and employees.
 Discuss how the financial statements would be useful to external users such as investors and creditors.
APA FORMAT 500700 WORDS
Aug 13, 2015  accounting
QRB 501 Week 3 Learning Team Assignment Inventory Proposal Part I
Resources: Week Two Assignment, University of Phoenix Material: Summer Historical Inventory Data, or University of Phoenix Material: Winter Historical Inventory Data
Select an inventory management problem that applies to your work or personal life.
Prepare a project proposal in which you:
 Describe the organization, the inventory problem it faces, and the expected benefits that are motivating the organization to implement a solution
Format your proposal consistent with APA guidelines.
Submit Certificate of Originality.
Aug 11, 2015  accounting
ACCT6141501B01 Applied Managerial Accounting
ACCT6141501B01
Applied Managerial Accounting
Quesadra D. Goodrum
Colorado Technical University
Class Discussion Phase 2
Professor: Angela McCaskill
02/25/2015
As The financial analysis here at EEC I am suggesting that all of EEC’s production activities be analyzed further. My reasoning that in doing so it will allow us to make some necessary vital decisions which will increase production in the needed areas. This will help us in the reduction the costs associated with manufacturing to increase our overall efficiency. The adjustment to our current procedural operations makes it necessary for us to take a further look at our cost behaviors. When production activities change whether it is a decrease and or and increase some of the associated costs may change while others remain the same (constant). This is the reason costs are divided into separate categories’ of fixed, variable, and mixed (Garrison, 2012). During the course of this discussion I will define each and list our accounts that are associated with them. In addition to this I will provide examples showing how changes in the sales volume will trigger a change in unit fixed and variable costs as well as total variable and fixed costs.
Aug 11, 2015  accounting
BA3400: Quantitative Methods – II Quiz 4  Complete Solution
BA3400: Quantitative Methods – II
QUIZ4 (22 x 0.5 = 10 +1 bonus point). Due Date: July 28, 2015
Instructions:
This quiz has a total of 22 multiple choice questions (MCQ) for half point each including two bonus questions. All questions are compulsory. Some questions may have up to 5 alternatives, but there is only one correct answer. Consider all alternatives before selecting the best answer. It is advised you first complete the quiz below at your convenience & time, select the responses and then attempt to submit the responses on line. Some questions are based on SPSS table outputs of the “Linear Regression Analysis” (both Bivariate and Multivariate). Good Luck!
1. How would you define “the best fit line” in scatter plot of regression analysis?
a. An imaginary line drawn in such a way that the total variance of distance for each data point from this line is minimized.
b. An imaginary line drawn in such a way that the total variance of distance for each data point from this line is maximized.
c. An imaginary line drawn in such a way that the total variance of distance for each data point from this line remains constant.
d. All of the above.
2. In order to run a linear regression, the following assumption(s) have to be met:
a. Data fits the straight line model
b. Both, the DV and IV(s) have to be continuous variables
c. Both “a” and “b”
d. None of the above
3. R Square is a measure of
a. Residual’s in DV explained by the IV(s) in regression analysis
b. Regression’s in DV explained by the IV(s) in regression analysis
c. Variance explained in DV by the IV(s) in regression analysis
d. All of the above
4. If the “F” value in ANOVA table of Linear Regression Analysis is significant (p < .05), what does it mean?
a. The data does not fit the straight line model
b. The data fits the curvilinear model
c. The data does not fit the curvilinear model
d. The data fits the straight line model
e. All of the above
5. If the “F” value in ANOVA table of Linear Regression Analysis is not significant (p > .05), what does it mean?
a. The data does not fit the straight line model
b. We cannot proceed with Regression Analysis
c. The data fits the straight line model
d. We can proceed with Regression Analysis
e. Both “a” and “b”
6. In the equation for a straight line y = a + bx, the intercept “a” is
a. the dependent variable
b. the variable used to predict the dependent variable
c. the change in y for any unit change in x
d. the distance from origin to the point where the straight line cuts the y axis, at x = 0
7. In the formula for a straight line y = a + bx, the slope “b” is defined as
a. the change in y for a unit change in x
b. where the line cuts the y axis when x = 0
c. the variable used to predict the dependent variable
d. the dependent variable
8. If the intercept (constant) is found to be 2 and the slope is found to be 5, for any independent variable X in a Bivariate Regression coefficient table results, and are found to be significant, then the equation will be given by (where Y is the dependent variable):
a. Y = 2 + 3X
b. Y = 2 + 5X
c. Y = 5 + 2X
d. Y = 3 + 2X
9. In a multiple regression, the relative importance of the independent variables in predicting/explaining the dependent variable is determined by examining the:
a. R2 values
b. Fvalues
c. unstandardized (B) values
d. p values
10. Multiple Regression analysis there is/are ________ independent variable(s) and _____ dependant variable(s).
a. One: more than one
b. More than one: one
c. Nonmetricscaled: metric scaled
d. Multiple: multiple
e. One: multiple
SPSS Tables Set1
Regression (visitfre(DV), prices(IV)
Variables Entered/Removeda
Model Variables Entered Variables Removed Method
1 pricesb . Enter
a. Dependent Variable: visitfre
b. All requested variables entered.
Model Summary
Model R R Square Adjusted R Square Std. Error of the Estimate
1 .160a .026 .017 1.088
a. Predictors: (Constant), prices
ANOVAa
Model Sum of Squares df Mean Square F Sig.
1 Regression 3.668 1 3.668 3.099 .081b
Residual 139.657 118 1.184
Total 143.325 119
a. Dependent Variable: visitfre
b. Predictors: (Constant), prices
Coefficientsa
Model Unstandardized Coefficients Standardized Coefficients t Sig.
B Std. Error Beta
1 (Constant) 2.773 .383 7.237 .000
prices .176 .100 .160 1.761 .081
a. Dependent Variable: visitfre
11. In the SPSS Tables Set1 for the Regression Analysis, what is the dependent variable and what is/are the independent variable(s) respectively:
a. visitfre and prices
b. price and visitfre
c. visitfre and location
d. location and prices
12. In the SPSS Tables Set1 for the Regression Analysis, what % of variance in visitfre is explained by prices. (Hint Look for RSquare value as a % of 1)
a. 16.0%
b. 2.6%
c. 8.1%
d. 10.0 %
13. In the SPSS Tables Set1 for the Regression Analysis, does the data fits the straight line model (Hint look at the significance of “F” value in ANOVA table).
a. Yes, we can proceed with regression analysis
b. No, we cannot proceed with regression analysis
SPSS Tables Set2
Regression (visitfre(DV), entertai(IV)
Variables Entered/Removeda
Model Variables Entered Variables Removed Method
1 entertaib . Enter
a. Dependent Variable: visitfre
b. All requested variables entered.
Model Summary
Model R R Square Adjusted R Square Std. Error of the Estimate
1 .427a .182 .175 .997
a. Predictors: (Constant), entertai
ANOVAa
Model Sum of Squares df Mean Square F Sig.
1 Regression 26.145 1 26.145 26.328 .000b
Residual 117.180 118 .993
Total 143.325 119
a. Dependent Variable: visitfre
b. Predictors: (Constant), entertai
Coefficientsa
Model Unstandardized Coefficients Standardized Coefficients t Sig.
B Std. Error Beta
1 (Constant) 1.772 .335 5.294 .000
entertai .451 .088 .427 5.131 .000
a. Dependent Variable: visitfre
14. In the SPSS Tables Set2 for the Regression Analysis, what is the dependent variable and what is/are the independent variable(s) respectively:
a. visitfre and prices
b. price and visitfre
c. visitfre and entertai
d. location and prices
15. In the SPSS Tables Set2 for the Regression Analysis, what % of variance in visitfre is explained by entertai. (Hint Look for RSquare value as a % of 1)
a. 16.0%
b. 2.6%
c. 18.2%
d. 10.0 %
16. In the SPSS Tables Set2 for the Regression Analysis, does the data fits the straight line model (Hint look at the significance of “F” value in ANOVA table).
a. Yes, we can proceed with regression analysis
b. No, we cannot proceed with regression analysis
SPSS Tables Set3
Variables Entered/Removeda
Model Variables Entered Variables Removed Method
1 beconvie, entertai, feelsafeb . Enter
a. Dependent Variable: visitfre
b. All requested variables entered.
Model Summary
Model R R Square Adjusted R Square Std. Error of the Estimate
1 .591a .350 .333 .896
a. Predictors: (Constant), beconvie, entertai, feelsafe
ANOVAa
Model Sum of Squares df Mean Square F Sig.
1 Regression 50.114 3 16.705 20.788 .000b
Residual 93.211 116 .804
Total 143.325 119
a. Dependent Variable: visitfre
b. Predictors: (Constant), beconvie, entertai, feelsafe
Coefficientsa
Model Unstandardized Coefficients Standardized Coefficients t Sig.
B Std. Error Beta
1 (Constant) .318 .416 .763 .447
entertai .345 .081 .327 4.237 .000
feelsafe .191 .093 .170 2.043 .043
beconvie .287 .075 .320 3.830 .000
a. Dependent Variable: visitfre
17. In the SPSS Tables Set3 for the Regression Analysis, what is the dependent variable and what is/are the independent variable(s) respectively:
a. visitfre and prices, location, foodtype
b. price and visitfre, entertain, beconvie
c. visitfre and entertain, feelsafe, beconvie
d. location and prices, entertain, feelsafe
18. In the SPSS Tables Set3 for the Regression Analysis, what % of variance in DV (visitfre) is explained by the IV(s). (Hint Look for RSquare value as a % of 1)
a. 59.1%
b. 2.6%
c. 18.2%
d. 35.0 %
19. In the SPSS Tables Set3 for the Regression Analysis, does the data fits the straight line model (Hint look at the significance of “F” value in ANOVA table).
a. Yes, we can proceed with regression analysis
b. No, we cannot proceed with regression analysis
20. In the SPSS Tables Set3 for the Regression Analysis, when running a linear regression to find out the impact of “entertain”, “feelsafe”, and “beconvie” (ALL TAKEN TOGETHER) on “visitfre” , what is the regression equation in form of y = c + m1x1 + m2x2 + m3x3 (where yvisitfre, cconstant, x1entertai, m1slope of entertai, x2feelsafe, m2slope of feelsafe, x3beconvie, and m3 slope of beconvie) depicting this relationship. (Hint Look at respective values of unstandardized coefficients in the coefficients table)
a. y = 1.792 + 0.414×1 + 0.411×2 + 0.411×3
b. y = 0.318 + 0.345×1 + 0.191×2 + 0.287×3
c. y = 0.381 + 0.099×1 + 0.079×2 + 0.411×3
d. y = 0.127 + 0.162×1 + 0.210×2 + 0.507×3
21. The coefficient of correlation ranges from 1 to +1, what is the range of “unstandardized B weight” or the slope for any independent variable in regression analysis?
a. 1 to +1
b. 10 to +10
c. ∞ to +∞
d. 100 to +100
22. Assuming any two variables’ have a perfect positive CORRELATION of +1 and the SLOPE of the best fit line in Bivariate Regression for some other set of a DV and an IV is found to be +1. What happens to the value of correlation and slope if, by including some more data, the angle of inclination of the lines in correlation and regression increases from the prior 45 degrees.
a. Correlation Decreases / Slope Increases
b. Correlation Increases / Slope Increases
c. Correlation Decreases / Slope Decreases
d. Correlation Increases / Slope Decreases
Aug 11, 2015  accounting
BA3400: Quantitative Methods – II Quiz 4  Complete Solution
BA3400: Quantitative Methods – II
QUIZ4 (22 x 0.5 = 10 +1 bonus point). Due Date: July 28, 2015
Instructions:
This quiz has a total of 22 multiple choice questions (MCQ) for half point each including two bonus questions. All questions are compulsory. Some questions may have up to 5 alternatives, but there is only one correct answer. Consider all alternatives before selecting the best answer. It is advised you first complete the quiz below at your convenience & time, select the responses and then attempt to submit the responses on line. Some questions are based on SPSS table outputs of the “Linear Regression Analysis” (both Bivariate and Multivariate). Good Luck!
1. How would you define “the best fit line” in scatter plot of regression analysis?
a. An imaginary line drawn in such a way that the total variance of distance for each data point from this line is minimized.
b. An imaginary line drawn in such a way that the total variance of distance for each data point from this line is maximized.
c. An imaginary line drawn in such a way that the total variance of distance for each data point from this line remains constant.
d. All of the above.
2. In order to run a linear regression, the following assumption(s) have to be met:
a. Data fits the straight line model
b. Both, the DV and IV(s) have to be continuous variables
c. Both “a” and “b”
d. None of the above
3. R Square is a measure of
a. Residual’s in DV explained by the IV(s) in regression analysis
b. Regression’s in DV explained by the IV(s) in regression analysis
c. Variance explained in DV by the IV(s) in regression analysis
d. All of the above
4. If the “F” value in ANOVA table of Linear Regression Analysis is significant (p < .05), what does it mean?
a. The data does not fit the straight line model
b. The data fits the curvilinear model
c. The data does not fit the curvilinear model
d. The data fits the straight line model
e. All of the above
5. If the “F” value in ANOVA table of Linear Regression Analysis is not significant (p > .05), what does it mean?
a. The data does not fit the straight line model
b. We cannot proceed with Regression Analysis
c. The data fits the straight line model
d. We can proceed with Regression Analysis
e. Both “a” and “b”
6. In the equation for a straight line y = a + bx, the intercept “a” is
a. the dependent variable
b. the variable used to predict the dependent variable
c. the change in y for any unit change in x
d. the distance from origin to the point where the straight line cuts the y axis, at x = 0
7. In the formula for a straight line y = a + bx, the slope “b” is defined as
a. the change in y for a unit change in x
b. where the line cuts the y axis when x = 0
c. the variable used to predict the dependent variable
d. the dependent variable
8. If the intercept (constant) is found to be 2 and the slope is found to be 5, for any independent variable X in a Bivariate Regression coefficient table results, and are found to be significant, then the equation will be given by (where Y is the dependent variable):
a. Y = 2 + 3X
b. Y = 2 + 5X
c. Y = 5 + 2X
d. Y = 3 + 2X
9. In a multiple regression, the relative importance of the independent variables in predicting/explaining the dependent variable is determined by examining the:
a. R2 values
b. Fvalues
c. unstandardized (B) values
d. p values
10. Multiple Regression analysis there is/are ________ independent variable(s) and _____ dependant variable(s).
a. One: more than one
b. More than one: one
c. Nonmetricscaled: metric scaled
d. Multiple: multiple
e. One: multiple
SPSS Tables Set1
Regression (visitfre(DV), prices(IV)
Variables Entered/Removeda
Model Variables Entered Variables Removed Method
1 pricesb . Enter
a. Dependent Variable: visitfre
b. All requested variables entered.
Model Summary
Model R R Square Adjusted R Square Std. Error of the Estimate
1 .160a .026 .017 1.088
a. Predictors: (Constant), prices
ANOVAa
Model Sum of Squares df Mean Square F Sig.
1 Regression 3.668 1 3.668 3.099 .081b
Residual 139.657 118 1.184
Total 143.325 119
a. Dependent Variable: visitfre
b. Predictors: (Constant), prices
Coefficientsa
Model Unstandardized Coefficients Standardized Coefficients t Sig.
B Std. Error Beta
1 (Constant) 2.773 .383 7.237 .000
prices .176 .100 .160 1.761 .081
a. Dependent Variable: visitfre
11. In the SPSS Tables Set1 for the Regression Analysis, what is the dependent variable and what is/are the independent variable(s) respectively:
a. visitfre and prices
b. price and visitfre
c. visitfre and location
d. location and prices
12. In the SPSS Tables Set1 for the Regression Analysis, what % of variance in visitfre is explained by prices. (Hint Look for RSquare value as a % of 1)
a. 16.0%
b. 2.6%
c. 8.1%
d. 10.0 %
13. In the SPSS Tables Set1 for the Regression Analysis, does the data fits the straight line model (Hint look at the significance of “F” value in ANOVA table).
a. Yes, we can proceed with regression analysis
b. No, we cannot proceed with regression analysis
SPSS Tables Set2
Regression (visitfre(DV), entertai(IV)
Variables Entered/Removeda
Model Variables Entered Variables Removed Method
1 entertaib . Enter
a. Dependent Variable: visitfre
b. All requested variables entered.
Model Summary
Model R R Square Adjusted R Square Std. Error of the Estimate
1 .427a .182 .175 .997
a. Predictors: (Constant), entertai
ANOVAa
Model Sum of Squares df Mean Square F Sig.
1 Regression 26.145 1 26.145 26.328 .000b
Residual 117.180 118 .993
Total 143.325 119
a. Dependent Variable: visitfre
b. Predictors: (Constant), entertai
Coefficientsa
Model Unstandardized Coefficients Standardized Coefficients t Sig.
B Std. Error Beta
1 (Constant) 1.772 .335 5.294 .000
entertai .451 .088 .427 5.131 .000
a. Dependent Variable: visitfre
14. In the SPSS Tables Set2 for the Regression Analysis, what is the dependent variable and what is/are the independent variable(s) respectively:
a. visitfre and prices
b. price and visitfre
c. visitfre and entertai
d. location and prices
15. In the SPSS Tables Set2 for the Regression Analysis, what % of variance in visitfre is explained by entertai. (Hint Look for RSquare value as a % of 1)
a. 16.0%
b. 2.6%
c. 18.2%
d. 10.0 %
16. In the SPSS Tables Set2 for the Regression Analysis, does the data fits the straight line model (Hint look at the significance of “F” value in ANOVA table).
a. Yes, we can proceed with regression analysis
b. No, we cannot proceed with regression analysis
SPSS Tables Set3
Variables Entered/Removeda
Model Variables Entered Variables Removed Method
1 beconvie, entertai, feelsafeb . Enter
a. Dependent Variable: visitfre
b. All requested variables entered.
Model Summary
Model R R Square Adjusted R Square Std. Error of the Estimate
1 .591a .350 .333 .896
a. Predictors: (Constant), beconvie, entertai, feelsafe
ANOVAa
Model Sum of Squares df Mean Square F Sig.
1 Regression 50.114 3 16.705 20.788 .000b
Residual 93.211 116 .804
Total 143.325 119
a. Dependent Variable: visitfre
b. Predictors: (Constant), beconvie, entertai, feelsafe
Coefficientsa
Model Unstandardized Coefficients Standardized Coefficients t Sig.
B Std. Error Beta
1 (Constant) .318 .416 .763 .447
entertai .345 .081 .327 4.237 .000
feelsafe .191 .093 .170 2.043 .043
beconvie .287 .075 .320 3.830 .000
a. Dependent Variable: visitfre
17. In the SPSS Tables Set3 for the Regression Analysis, what is the dependent variable and what is/are the independent variable(s) respectively:
a. visitfre and prices, location, foodtype
b. price and visitfre, entertain, beconvie
c. visitfre and entertain, feelsafe, beconvie
d. location and prices, entertain, feelsafe
18. In the SPSS Tables Set3 for the Regression Analysis, what % of variance in DV (visitfre) is explained by the IV(s). (Hint Look for RSquare value as a % of 1)
a. 59.1%
b. 2.6%
c. 18.2%
d. 35.0 %
19. In the SPSS Tables Set3 for the Regression Analysis, does the data fits the straight line model (Hint look at the significance of “F” value in ANOVA table).
a. Yes, we can proceed with regression analysis
b. No, we cannot proceed with regression analysis
20. In the SPSS Tables Set3 for the Regression Analysis, when running a linear regression to find out the impact of “entertain”, “feelsafe”, and “beconvie” (ALL TAKEN TOGETHER) on “visitfre” , what is the regression equation in form of y = c + m1x1 + m2x2 + m3x3 (where yvisitfre, cconstant, x1entertai, m1slope of entertai, x2feelsafe, m2slope of feelsafe, x3beconvie, and m3 slope of beconvie) depicting this relationship. (Hint Look at respective values of unstandardized coefficients in the coefficients table)
a. y = 1.792 + 0.414×1 + 0.411×2 + 0.411×3
b. y = 0.318 + 0.345×1 + 0.191×2 + 0.287×3
c. y = 0.381 + 0.099×1 + 0.079×2 + 0.411×3
d. y = 0.127 + 0.162×1 + 0.210×2 + 0.507×3
21. The coefficient of correlation ranges from 1 to +1, what is the range of “unstandardized B weight” or the slope for any independent variable in regression analysis?
a. 1 to +1
b. 10 to +10
c. ∞ to +∞
d. 100 to +100
22. Assuming any two variables’ have a perfect positive CORRELATION of +1 and the SLOPE of the best fit line in Bivariate Regression for some other set of a DV and an IV is found to be +1. What happens to the value of correlation and slope if, by including some more data, the angle of inclination of the lines in correlation and regression increases from the prior 45 degrees.
a. Correlation Decreases / Slope Increases
b. Correlation Increases / Slope Increases
c. Correlation Decreases / Slope Decreases
d. Correlation Increases / Slope Decreases
Aug 11, 2015  accounting
Reflection
Write a 350 to 700word summary explaining the differences between revenue expenditures and capital expenditures during a useful life and identifying any similarities. Briefly explain the entries of revenue expenditures and capital expenditures.
Format your summary consistent with APA guidelines.
Aug 10, 2015  accounting
Research and analyze the US trade deficit. Answer the following questions.
Research and analyze the US trade deficit. Answer the following questions.
 How large is the US trade deficit (relative to GDP)? 4 Points
 How has the trade deficit changed recently? Why? 4 Points
 Do you expect this trend to continue? 4 Points
 Is this trade deficit a bad thing or a good thing, and why? 4 Points
 Describe what would happen if we implemented more trade protection (tariffs, quotas, VERs) 4 Points
GDP data is available from the Bureau of Economic Analysis:
http://www.bea.gov/national/index.htm#gdp
Note: Your assignment must be in expository essay form, comply with APA style formatting, be 37 pages long (not counting cover and references pages), and in MS Word.
Aug 10, 2015  accounting
Breakeven Analysis Concept
You are a marketing director for a Mexican Taco Restaurant located in Lynchburg, VA. The average order size of your customers is $7.00 per order. That means that when all your food orders are divided by your total number of customers, the average order amount is $7.00.
Your variable cost per order is $3.00 in food costs and paper products. Of course, there are also fixed costs (whether you sell one or a hundred). These include your building lease ($2,000 per month, electricity $500 per month, and labor $3,100 per month).
Using this formula, what is the breakeven point? In other words, how many meals, at $7.00, would need to be sold before you start making a profit?
Fixed costs/Average order – variable costs = Breakeven point (Number of meals)
The problem is that, even after being in business for a year, your restaurant is selling slightly less than 1,000 meals. There are several actions that can be taken to reach your breakeven point, which is necessary if you are to remain in business. As the marketing director is responsible for the product, price, promotion, and placement, you control many of the tools to make necessary adjustments.
*The context of the answer should include quality work that will demonstrate an understanding of the breakeven analysis concept and will show correct calculations. Conclusions from the breakeven analysis should be summarized with your rationale for the solution(s) that you selected. The content presented must demonstrate an understanding of the material.
Aug 5, 2015  accounting
accounting questions
answer each of the 8 items in at least 100 words with references if necessary.
1.Accountings role in decision making
 Manufacturing over head
 The need for managerial accounting information
 Classifying costs for decision making
 Fundamentals of financial accounting
 Quality costs in a manufacturing industry7. Resemblances and differences between financial accounting and management accounting
 Product costs and period costs
Jul 20, 2015  accounting
Review Decision Case 1 (World.com) on page 186 in chapter 3. By
Saturday, July 18, 2015, analyze the data presented in the case scenario and address the following questions in your initial post:
 Assume that the most you would pay for the business is 20 times the monthly net income you could expect to earn from it. Compute this possible price.
 Nicholas states that the least he will take for the business is an amount equal to the business’s stockholders’ equity balance on January 31. Compute this amount.
 Under these conditions, how much should you offer Nicholas? Give your reason.
By the end of the week, provide substantive responses to at least two other students’ initial posts.
Jul 17, 2015  accounting
Dr. Steve Rosenthal has his own medical practice. He specializes in the treatment of diabetics. His staff consists of a receptionist, two nurses, a lab technician, and a dietitian. As patients enter the outer office, they check in with the receptionist. The patient then waits until called by a nurse. When called, the patient moves from the waiting room to the inner offices. The patient must weigh in and is then assigned a room. The nurse assigning the patient to a room gathers all the personal data for updating the medical records, such as insulin dosage, medication, illnesses since last visit, etc. The nurse also takes an initial blood sample for blood sugar testing and performs a blood pressure test. The patient then waits until the doctor comes in. After the doctor’s conference, the nurse returns to take more blood samples, depending on what is ordered by the doctor. The patient then waits until the dietitian comes to review eating habits and talk about how to improve meal planning and weight control. The patient returns to the receptionist to pay for the office visit and to schedule the next visit.
In your response include the following: ANSWER THE FOLLOWING TWO QUESTIONS BELOW THOROUGHLY
1. Identify the activities in the doctor’s office that fall into process time, inspection time, move time, wait time, and storage time.
2. List the activities in the doctor’s office that are candidates for nonvalueadded activities. Explain why you classify them as nonvalueadded activities.
THIS IS A 300 WORD COUNT PAPER
YOU ONLY CAN USE TWO SCHOLARLY SOURCES…MUST BE PROPERLY CITED IN APA FORM THROUGHOUT PAPER AND WITH AN REFERENCE PAGE ALSO…
MUST USE PROPER SENTENCING, PRONUNCIATIONS AND GRAMMAR…
Jul 16, 2015  accounting
Write a two to three (23) page paper in which you:
1. Describe the purpose of each financial statement. Determine which one (1) is the most effective
in communicating the financial health of an organization. Defend your position.
2. Compare the major functions of an accountant to that of a certified public accountant. Make an
argument for and against the importance of accounting and accountants in our society from a
U.S. or global perspective.
3. Imagine that you have decided to create your own business venture. Determine whether the
company will be a service or merchandising company. Describe the differences between the
charts of accounts for both companies.
4. Based on the company that you selected in 3, make an argument for automating the accounting
process, and implement at least three (3) types of internal controls to prevent or detect theft or
fraud.
Your assignment must follow these formatting requirements:
• Be typed, double spaced, using Times New Roman font (size 12), with oneinch margins on all
sides; citations and references must follow APA or schoolspecific format. Check with your
professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s
name, the course title, and the date. The cover page and the reference page are not included in
the required assignment page length.
Jul 14, 2015  accounting
Browse the Internet to acquire a copy of the most recent annual report for a publicly traded company.
Analyze the information contained in the company’s balance sheet and income statement to answer the following questions:
 What are the company’s total assets at the end of its most recent annual reporting period? Why is this important?
 What are the total assets at the end of the previous annual reporting period?
 How much cash and cash equivalents did the company have at the end of its most recent annual reporting period?
 What amount of accounts payable did the company have at the end of its most recent annual reporting period?
 What amount of accounts payable did the company have at the end of the previous annual reporting period?
 What are the company’s net revenues for the last three annual reporting periods?
 What is the change in dollars in the company’s net income from its most recent annual reporting period to the previous annual reporting period?
 What are the company’s total current assets at the end of its most recent annual reporting period?
 What are the total current assets at the end of the previous annual reporting period?
 What in the information above would be important to a potential investor, employee, and so on?
Summarize the analysis in a 700 to 1,050word paper in a Microsoft® Word document.
Include a copy of the company’s balance sheet and income statement.
Format your paper consistent with APA guidelines.
Jul 14, 2015  accounting
Prepare an income statement for Manicured lawns for the year ended December 31 2012.
Ins. Payment $4000
Service revenue 107,000
Supply expense $1200
Rent expense $11,000
Salary expenses $41,000
Accounts payable $8800
Supplies $2400
Toby drawing $300
Prepare the income statement of Manicured lawns for the year ended December 21, 2012. Use minus signs for net loses.
Jul 13, 2015  accounting
Assignment 2 “The Impact of the Convergence of IFRS and GAAP on Auditors”
Write a three (3) page paper in which you:
1. Create an argument for or against the IFRS and GAAP convergence process versus a pure adoption of IFRS in the context of impact to the public accounting profession.
2. Assess the cost impact to a business related to the IFRS and GAAP convergence, the risks and rewards to business for adopting IFRS, and the related impact to the auditing profession.
3. Make an argument as to what action might protect the auditor from an investor lawsuit when IFRS is not reconciled to GAAP. Support the argument with evidence or examples.
4. Predict the future of the auditing professor after IFRS and GAAP convergence is complete. Provide a rationale with your response.
5. Use at least three to four (3 to 4) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.
Your assignment must follow these formatting requirements:
· Be typed, double spaced, using Times New Roman font (size 12), with oneinch margins on all sides; references must follow APA or schoolspecific format.
· Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.
The specific course learning outcomes associated with this assignment are:
· Analyze international economics and its impact on businesses, globalization, and business strategy.
· Use technology and information resources to research issues in the auditing and business environment.
· Write clearly and concisely about the auditing and business environment using proper writing mechanics.
Jul 9, 2015  accounting
What is a current liability? From the perspective of a user of financial statements, why do you believe current liabilities are separated from longterm liabilities? Based on your current experience as well as any additional research you may have done provide two examples of situations where businesses collect monies from customers and employees and reports these amounts as a current liability.
Jul 9, 2015  accounting
Final Paper
Focus of the Final Paper
Write a fiveto sevenpage financial statement analysis of a public company, formatted according to APA style as outlined in the Ashford Writing Center. In this analysis you will discuss the financial health of this company with the ultimate goal of making a recommendation to other investors. Your paper should consist of the following sections: introduction, company overview, horizontal analysis, ratio analysis, final recommendation, and conclusions. Your paper needs to include a minimum of two scholarly resources in addition to the textbook as references.
Here is a breakdown of the sections within the body of the assignment:
Company Overview
Provide a brief overview of your company (one to two paragraphs at most). What industry is it in? What are its main products or services? Who are its competitors?
Horizontal Analysis of Income Statement and Balance Sheet
Prepare a threeyear horizontal analysis of the income statement and balance sheet of your selected company. Discuss the importance and meaning of horizontal analysis. Discuss both the positive and negative trends presented in your company.
Ratio Analysis
Calculate the current ratio, quick ratio, cash to current liabilities ratio, over a twoyear period. Discuss and interpret the ratios that you calculated. Discuss potential liquidity issues based on your calculations of the current and quick ratios. Are there any factors that could be erroneously influencing the results of the ratios? Discuss liquidity issues of competitive companies within the same industry.
Recommendation
Based on your analysis would you recommend an individual invest in this company? What strengths do you see? What risks do you see? It is perfectly acceptable to state that you would recommend avoiding this company as long as you provide support for your position.
Writing the Final Paper
1. Must be five to seven doublespaced pages in length, and formatted according to APA style as outlined in the Ashford Writing Center.
2. Must include a title page with the following:
a. Title of paper
b. Student’s name
c. Course name and number
d. Instructor’s name
e. Date submitted
3. Must begin with an introductory paragraph that has a succinct thesis statement.
4. Must address the topic of the paper with critical thought.
5. Must end with a conclusion that reaffirms your thesis.
6. Must document all sources in APA style, as outlined in the Ashford Writing Center.
7. Must include a separate reference page, formatted according to APA style as outlined in the Ashford Writing Center.
Jul 8, 2015  accounting
Cole Creatives
Project Instructions
1. Complete journal entries for remainder of the year
2. Prepare unadjusted trial balance.
3. Make all necessary adjusting entries
4. Prepare Adjusted trial balance
5. Make all necessary closing entries
6. Prepare Financial Statements
a. Income Statement, multistep
b. Balance Sheet
c. Statement of Cash Flows
DUE DATE: Tuesday, July 9, 2015.
Jul 8, 2015  accounting
For Week 6, please turn in the answers to the following questions:
 Why do we say money has time value?
 Why is it important for business managers to be familiar with time value of money concepts?
 Define Present Value.
 Define Future Value.
 What are present value and future value interest factors? (as in PVIF and FVIF)
 (calculating future value) You buy a 6 year, 8% CD for $1,000. Interest is compounded annually. How much is it worth at maturity?
 (calculating present value) What’s the present value of $1,000 to be received in 8 years? (Your required rate of return is 7% a year.)
 (calculating the rate of return) A friend promises to pay you $600 two years from now if you loan him $500 today. What interest rate is your friend offering you?
 (calculating the future value of an annuity) If you invest $100 a year for 20 years at 7% annual interest, how much will you have at the end of the 20th year
 (calculating the present value of an annuity) How much would you be willing to pay today for an investment that pays $800 a year at the end of the next 6 years? (Your required rate of return is 5% a year.)
Discussion Questions:
the main topic for week 6 is Time Value of Money. This will be the most challenging financial concept in the entire course…however, learning the concepts will be a valuable tool to add to your toolbox of skills.
NOTE: I’ve put a helpful memo on how to do all kinds of TVM applications using Excel, in Announcements. I have Windows 7 2010 so if you have a different version my commands may not work the same for you.
If you instead choose to do it long hand, the hard way, get lots of paper, and I will pray for you.
TVM has many applications, such as: calculating your mortgage and car payments, figuring out how much you have to save up for retirement planning, how a firm decides to invest in project A vs B, how to answer the main question when you win the lottery, etc., etc.
So try these all…don’t wait till Sunday to try them; I’ll try and check each day to give you quick feedback to help you on the homework.
 . You and your friend both want to save up to buy a $1000 computer, 3 years from now. You have a track record of earning 10% on your investments, your friend has a track record of earning 5% on her investments.
WHO has to start out with the bigger amount of money, today? WHY?
 . Whats the FUTURE value or FV of putting $1 in a savings account today, and leaving in there for 2 years, if the bank is paying 10%? If its only paying 5%?
 . What the PRESENT value or PV of receiving $1.21 two years from now, if you have a track record of earning 10% on your money
 . NOW, the one everyone is waiting for:
Congrats
You have just won the lottery
You are asked whether you want the $10,000,000 lump sum or a 20 year, $700,000/yr annuity
IGNORING taxes, how old you are, how sick you are, the likelihood of Tsunamis, whether the State Lottery will be bankrupt in 5 years, whether you want to leave $ to your kids…..
On what basis do you make your decision?? [remember, you are in a finance class]
Using Excel for TVM calculations REV2:
There are 4 methods to do TVM calculations:
 the longhand method of multiplying exponential formulas
 using any of the 4 TVM tables
 using excel
 using a financial calculator
In my opinion method 1 is too difficult. #2 takes too long; #3 I cannot help anyone with as every different calculator has its own 100 page instruction book
The easiest way is learning to use excel.
 To use excel, hit the “Fx” toolbar, and choose “financial” functions from the pulldown menu
To do any kind of present value problem, go to the PV function
To do any kind of FV problem, go to the FV function
Whichever function you choose will open a window into which you will type in data
Guidelines to follow:
 The “rate” means the decimal format of the discount or interest rate PER PERIOD to use; if its 5%, type in .05….if its 12% type in .12.
If instead of annual compounding, for example if problem dealt with semiannual compounding, and annual rate was 10%, you would type in .05.
 “Periods” means the number of compounding periods. If problem is 10 years, compounded annually, type in 10; if its 10 years compounded semiannually, type in 20
 means what the future sum would be.
 “Payment” field would only be filled in if its an annuity [a stream of equal periodic payments like a car loan or mortgage], in which case you would type in the size of the periodic payment. Otherwise, leave it blank.
 Generally money paid in [like to a bank], should have a negative sign, and your answer will come out positive then
Specific examples:
 For determining the PV of some future some, use the PV function, type in your discount rate as a decimal, type in the number of periods, and type in the future value. If its an annuity, type in the $ amount of the periodic payment in the “payment” field.
 For determining the Future value of some present sum, use the FV function and enter info as above whether its one present sum, or its an annuity stream
 If instead of a simple end of period annuity problem, its an “annuity due” problem [payment on the first day of the period vs., the last day, like an ordinary annuity], type “1” into the “type” field
 Determining the effective annual rate: EAR
Go to financial section of Fx toolbar, using pull down window to get “effective”. Type in the nominal or stated ANNUAL percentage rate[APR], as a decimal[12% would be .12] and type in the number of compounding periods per year[if monthly compounding type in 12; if weekly compounding type in 52]. The answer should ALWAYS be >ANNUAL rate you typed in, unless its annual compounding in which case APR=EAR
 Loan payment: to determine the size of the equal periodic loan payment, use the “payment” function, PMT. Type in the loan interest rate per period, as a decimal; if its an annual 12%, then its 1% per month, for example. Type the value of the money to be borrowed, in PV; type in the number of loan periodic payments. If you want the monthly loan payment, make sure the interest rate is expressed as “per period”
 For bond YTM problems
Use the “rate” function; type in number of periods, any periodic payment, what you are paying out [with a negative sign], what you get back as FV
 Valuing a bond:
Time value of money principles can be used to answer the question. “what is the appropriate market price, or value of a certain bond, which has a coupon or interest rate R, a face value of F, and has Y years left to maturity.”
As we go through this you’ll better understand why financial newscasters will frequently say “rising interest rates” cause a fall in bond prices, and lowering interest rates causes an increase in bond pricingnot trivial events when we’re talking about billions of dollars in bonds traded everyday.
The value of a bond is made up of two piecesthe PV of its face value upon maturity and the present value of the stream of coupon or interest payments over its remaining time to maturity.
To determine the PV of a bond you need to determine the PV of each of these components.
The present value of the face value is simply the maturity value ($1000 most of the time) discounted by the number of periods remaining at the appropriate discount rate. Always remember, your investment track record or discount rate may be higher or lower than the other party in the transaction of buying and selling a bond.
The present value of the stream of remaining coupon payments can be determined through a series of individual PV calculations or one annuity calculation
Example:
Maturity=30 years, but 5 years have passed already since the bond was initially issued and purchased so there’s 25 years left
Coupon rate=10% so annual interest payment is $1000 x .1=$100
Face value=$1000
Your personal investment track record of earnings, [or your discount rate]=6%
What’s the bonds appropriate price, or market value or… “PV?
You COULD do this in two pieces….
 PV of the face value
I=.06, n=25, PMT=0, FV=1000 equals $233
 PV of the annuity stream of interest payments=
I=.06, n=25, PMT=10% x 1000=100; FV=0 equals 1278.30
Total PV of these two pieces=$233+$1278.30=$1511
OR, using excel do it in one step
I=.06 n=25, PMT=100, FV=1000
As this is greater than the par or face value, its termed selling or valued or priced…. “at a premium”.
Why would it sell as a premium?
Compare your personal discount rate of 6%, with the coupon interest rate of 10%. You could do much better than usual by buying my bond at 10% interest; in fact its so good a deal that you’re going to be willing to pay me a “premium” to buy it.
Guess what would happen if your discount rate was HIGHER than the bonds coupon rate….yes, its PV would be <$1000, and it would be selling or valued at a “discount”. Why does this make sense?
You’d have to have a very good reasons to buy something, giving you a worse return,( lets say 5%) than your own track record of returns(6%). To convince you to buy it, I’ll have to put it on “sale” by selling it at a discount!
Ok…summarizing using excel to calculate a bonds value
go to the normal present value function in excel[PV]
 in the rate field type in the appropriate discount rate, marketplace interest rates, ytm, expected return…..in decimal format[this is NOT the same as the bonds coupon or interest rate, other than by coincidence]
 in the number of periods type in the number of periods of compounding
 in the “payment field” type in the $ value of the interest annuity. Its the stated coupon or interest rate x the bonds face value
 in the FV field type in the face value which is almost always 1000
Remember, that if bond pays interest more frequently, such as semiannually, you have to make 3 adjustments to your calculations; yields on similar bonds, or discount rate or YTM rate/2, # of periods x 2, coupon payment/2
CAPITAL BUDGETING
For IRR capital budgeting problems:
Enter into a series of excel worksheet cells, the outflow, or initial investment[with a negative], and inflows, in the proper order
Go to IRR function and it will ask for the range of cell containing the cash stream you wish to determine IRR for.
For example if in year0,1,2,3 you have cash flows of 10,000[you invest 10,000 on day 1], and then in years 1,2,3 cash inflows or benefits of 5000,6000,10,000. You would enter 10,000 in cell A1, 5000 in A2, 6000 in A3, and 10,000 in A4[all without commas].
Type in A1:A4 and it will tell you the IRR
Ignore the “guess” field
For capital budgeting NPV problems
NPV=PVinflows[or financial benefits]PV outflow[or the initial investment]
Use excels NPV function
Type in sequentially the year 1,2,3, etc cash inflows or benefits you get each year.
Type in the appropriate discount rate as a decimal
It will give you the PV of the inflows
This will NOT give you the NPV of the project, it will only give you the PV of all the inflows; you STILL have to subtract the investment, or PV of the outflow
Jul 8, 2015  accounting
•Discuss the role of an Auditor (both internal and external).
•Who are the Big 4 Accounting Firms?
•What is SarbanesOxley and why was this law created?
•Please list the steps of the accounting cycle.
•Why is this important to the accounting profession?
Jul 8, 2015  accounting
Deliverable Length: 1 page and 1 Excel Spreadsheet
Consider the following scenario:
Deer Valley Lodge, a ski resort in the Wasatch Mountains of Utah, has plans to eventually add five new chairlifts. Suppose that one lift costs $2 million, and preparing the slope and installing the lift costs another $1.3 million. The lift will allow 300 additional skiers on the slopes, but there are only 40 days a year when the extra capacity will be needed. (Assume that Deer Valley Lodge will sell all 300 lift tickets on those 40 days.) Running the new lift will cost $500 a day for the entire 200 days the lodge is open. Assume that the lift tickets at Deer Valley cost $55 a day. The new lift has an economic life of 20 years.
1. Assume that the beforetax required rate of return for Deer Valley is 14%. Compute the beforetax NPV of the new lift and advise the managers of Deer Valley about whether adding the lift will be a profitable investment. Show calculations to support your answer.
2. Assume that the aftertax required rate of return for Deer Valley is 8%, the income tax rate is 40%, and the MACRS recovery period is 10 years. Compute the aftertax NPV of the new lift and advise the managers of Deer Valley about whether adding the lift will be a profitable investment. Show calculations to support your answer.
3. What subjective factors would affect the investment decision?
Jul 8, 2015  accounting
Garner Company began operations on January 1, 2015, and uses the average cost method of pricing inventory. Management is contemplating a change in inventory methods for 2018. The following information is available for the years 2015–2017.
Net Income Computed Using
Average Cost Method FIFO Method LIFO Method
2015 $15,000 $20,000 $12,000
2016 18,000 24,000 14,000
2017 20,000 27,000 17,000
On January 1, 2017, Garner issued 10year, $200,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 30 shares of Garner common stock. The company has had 10,000 common shares outstanding throughout its life. None of the bonds have been exercised as of the end of 2018. (Ignore tax effects.)
2. Assume Garner Company used the LIFO method instead of the average cost method during the years 2015–2017. In 2018, Garner changed to the FIFO method. Prepare the journal entry necessary to record the change in accounting principle.
3. Assume Garner had the accounting change described in (2); Garner’s income in 2018 was $30,000. Compute basic and diluted earnings per share for Garner Company for 2018. Show how income and EPS will be reported for 2018 and 2017.
Jul 8, 2015  accounting
Discussion questions is taken from: Romner y, M. B., & Steinbart, P. J. (2012). Accounting information systems. (12th Ed.). Upper Saddle River, NJ: Pearson.
Week 1
1a.Firms realize that in order to make money, they have to invest money. This can be attributed to the information that the firm relies on. As discussed in the text, there are seven characteristics of useful information. From the first eActivity and assuming that you are new CFO of Strayer University, identify the topthree characteristics you would rely on the most for improving the profitability of the firm. Provide an example of how each characteristic would directly help the firm in terms of profitability.
1b.On the other hand, public and private firms are accountable to a wide range of regulators and stakeholders. Of the seven characteristics, identify the top three that would be applicable to meeting the needs of regulators and stakeholders. Provide an example of how each characteristic would directly help the firm in terms of meeting the needs of these key regulators and stakeholders.
2a.some of the world’s most successful companies (Fortune 500) operate multiple lines of business. Despite this fact, many of these firms rely on a single AIS. From the second eActivity, for the business you researched, examine how its lines of business would affect the design of a new AIS.
2b.If the business was selecting a new AIS, examine how the business model would affect the design of a new AIS.
Week 2
1a.you have been assigned to analyze the accounting information for a Fortune 500 corporation. From the eActivity, evaluate which tools you would use to analyze its business processes, indicating your rationale.
1b.On the other hand, resources, such as accountants, business analysts, and I/T specialists who rely on documentation tools, will need proper training on these tools. You have been given the responsibility of familiarizing your team with these tools. Evaluate which techniques, in terms of their appropriateness, you would use to get your team ready for its first assignment—the evaluation of a firm’s internal control structure.
2a.Read the David Miller case from Chapter 5. After reading the case, describe a reason why someone who has been entrusted with the firm’s assets would commit a fraudulent act against the company. Based upon your understanding of the case and your professional and personal experience, recommend a series of actions that should have been taken in order to prevent this.
2b.Now that the damage has been done by Mr. Miller after his last episode, the blame game begins. Review all of the parties who contributed to his ability to commit these acts, recommend who should be held liable, and suggest the punishment for the liable party / parties.
Jul 8, 2015  accounting
Resource: ABC Financial Data Excel^{®} spreadsheet, ABC Supplemental Data, and the values from the Week 2 Individual Assignment
Prepare a statement of Retained Earnings and Comprehensive Income using the values from Week 2.
 Apply error corrections to the retained earnings statement.
 Calculate foreign currency translation.
 Apply hedging or derivative transaction into statement.
Prepare a Statement of Owner’s Equity, referring to the balance sheet results as well as the statements prepared for the Week 2 Individual Assignment.
Submit the Statement of Retained Earnings in a Microsoft^{®} Excel^{®} spreadsheet and the Statement of Owner’s Equity and Comprehensive Income.
Jul 6, 2015  accounting
Melton River resort opened for business on June 1 with eight air conditioned units. its trial balance before adjustment on August 31 was
account number
101 cash debited 19,600
126 supplies debited 3,300
130 prepaid insurance debited 6,000
140 land debited 25,000
143 buildings debited 125,000
149 equipemt debited 26,000
201 Accounts payable credited 6,500
208 unearned rent revenue credited 7,400
275 mortgage payable credited 80,000
301 Owners Capital debited 100,000
306 Owners Drawings debited 5,000
429 Rent Revenue 80,000 credited
622 Maintenance and Repairs expense debited 3,600
726 Salaries and Wages Expense debited 51,000
732 Utilities Expense debited 9,400
In addition to those accounts listed on the trial balance, ther chart of accounts for Melton River Resort alos contain the following accounts and account numbers: Number 112 for Accounts receivable, NO 144 accumulated Depreciation buildings, NO 150 Accumulated Depreciation Equipment, NO 212 Salaries and Wages PAyable, NO 230 interest payble, NO 620 Depreciation Expenses, NO 631 Supplies Expense, NO 718 Interest expense, and NO 722 Insurance Expense
Insurance expires at the rate of $300 a month
A Physical count on August 31 shows $800 of supplies on hand
Annual depreciation is $6,000 on buidlings and $2,400 on equipment
Unearned rent revenue of 4,8000 was earned proir to August 31
Salaries of $ 400 were un paid at August 31
Rentals of $4000 were due from tenants at August 31 ( Use accounts receivable)
The mortagage interest rate is 9% per year (The mortagage was taken out on August)
Journalize the adjusting entried on August 31 for the 3 month period June 1 August 31
Prepare a ledger using the three column for of account. Enter the trial balace moments and post the adjusting books
Prepare an adjusted trial balance on August 31
Prepare an income statment and an owner’s equity statments for the 3 months ending in the August 31..
Jul 2, 2015  accounting
ACC 557 Week 4 Discussions
ACC 557 Financial Accounting – Strayer
ACC 557 Week 4 DQ 1 Accounting Methods
Analyze the risks to merchandising that a business may experience and how they might be minimized. Determine if automation of accounting has had a positive or negative impact on business, in general, and how you arrived at that conclusion.
Create a corporate policy designed to minimize inventory shrinkage related to theft, stocking errors, shipping errors, etc., indicating how the policy will be enforced and procedures that may need to be implemented
ACC 557 Week 4 DQ 2 Inventories
Imagine you are accountable for a franchise fastfood restaurant. Evaluate the best method of inventory costing and make a recommendation to the company’s leaders about why it is best suited for your franchise fastfood restaurant to reduce the possibility of employee theft of product or other shrinkage concerns.
Inventory control requires constant attention. Propose a set of guidelines that reflect the necessary monitoring controls for three distinct types of business (e.g., a shoe retailer, a physician’s office, and a food vending truck) to minimize loss and waste. Indicate how each control will minimize risk of inventory loss
Jun 29, 2015  accounting
 Chris and Lauren each contributed $90,000 cash to the cash basis CL Partnership. The partnership uses all $180,000 of the cash to purchase a depreciable asset. The partnership agreement provides that depreciation is allocated 60% to ChrisÂ and 40% to Lauren. All other items of partnership income, gain, loss or deduction are allocated equally between the two partners. During the first year of operations, the partnership produces $30,000 of income before depreciation and deducts $30,000 of depreciation. At the end of the first year, the partnership sells the depreciable asset for its $150,000 book value. Following these transactions, the partnership has $180,000 of cash ($150,000 from sale of the asset and $30,000 from operations). assume nothing else happens in the first year that affects the partners and liquidates at the end of the first year.
 a) How much cash is distributed to each partner in the liquidating distribution under the economic effect test?
 b) if the partnership distributes $30,000 cash to Lauren on June 30 of the current year, how much cash is distributed to each partner in the liquidating distribution under the economic effect test?
 At the end of last year, Ben, a 40% partner in the fourperson BBJR Partnership, has an outside basis of $50,000 in the partnership, including a $40,000 share of partnership debt. Ben’s share of the partnership’s Â§ 1245 recapture potential is $25,000. All parties use the calendar year. Describe the income tax consequences to Ben in each of the following independent situations that take place in the current year:
 a) On the first day of the tax year, Ben sells his partnership interest to Marilyn for $80,000 cash and the assumption by Marilyn of the appropriate share of partnership liabilities.
 b) Ben dies after a lengthy illness on April 1of the current year. Ben’s brother immediately takes Ben’s place in the partnership.
Jun 29, 2015  accounting
 Stewart Inc. uses a process cost system and the weightedaverage cost flow assumption. Production begins in the Fabricating Department where materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. On March 1, the beginning work in process inventory consisted of 20,000 units which were 60% complete and had a cost of $175,000, $145,000 of which were material costs. During March, the following occurred:
Materials addedÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $305,000
Conversion costs incurredÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $120,000
Completed units transferred out in MarchÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 65,000
Units in ending work in process March 31 (40% complete)Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 25,000
Instructions: (15 points)
Answer the following questions and show the computations that support your answers.
(a)Â What are the equivalent units of production for materials and conversion costs in the Fabricating Department for the month of March?
(b)Â What are the costs assigned to the ending work in process inventory on March 31?
(c)Â What are the costs assigned to units completed and transferred out during March?
 Davis Inc. uses a job order cost accounting system and keeps perpetual inventory records. The following transactions occurred in the first month of operations:
 Direct materials requisitioned during the month:
Job 101Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $20,000
Job 102Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 16,000
Job 103Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 24,000
$60,000
 Direct labor incurred and charged to jobs during the month was:
Job 101Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $30,000
Job 102Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 28,000
Job 103Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 20,000
$78,000
 Manufacturing overhead was applied to jobs worked on using a predetermined overhead rate based on 75% of direct labor costs.
 Actual manufacturing overhead costs incurred during the month amounted to $66,000.
 Job 101 consisting of 1,000 units and Job 103 consisting of 200 units were completed during the month.
Instructions: (28 points)
(a)Â Prepare journal entries to record the above transactions.
(b)Â How much manufacturing overhead was applied to Job 103 during the month?
(c)Â Compute the unit cost of Jobs 101 and 103.
(d)Â What is the balance in Work In Process Inventory at the end of the month?
(e)Â Determine if manufacturing overhead was under or overapplied during the month. How much?
 Campbell Inc. is a small manufacturer that uses machinehours as its activity base for assigning overhead costs to jobs. The company estimated the following amounts for 2013 for the company and for Job 62:
Â Company Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Job 62Â Â Â
Direct materialsÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $60,000Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $4,500
Direct laborÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $25,000Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $2,500
Manufacturing overhead costsÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $72,000
Machine hoursÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 80,000Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1,350
During 2013, the actual machinehours totaled 84,000, and actual overhead costs were $71,000.
Instructions: (18 points)
(a)Â Â Compute the predetermined overhead rate.
(b)Â Â Compute the total manufacturing costs for Job 62.
(c)Â Â How much overhead is over or under applied for the year for the company? State the dollar amount and whether it is over or under applied.
(d)Â Â If Campbell Inc. sells Job 62 for $14,000, compute the gross profit.
 Write a paragraph explaining the difference between absorption and variable costing. (15 points)
 The comparative balance sheets for Ashley Company as of December 31 are presented below.
ASHLEY COMPANY 
Comparative Balance Sheets 
December 31 
Assets 
2013 

2012 
Cash 
$70,600 

$45,220 
Accounts receivable 
43,599 

61,607 
Inventory 
151,897 

141,806 
Prepaid expenses 
15,290 

21,335 
Land 
105,700 

130,600 
Equipment 
228,359 

155,043 
Acc. depr. – equipment 
(45,192) 

(35,358) 
Building 
199,500 

199,500 
Acc. depr. – building 
(59,850) 

(39,900) 
Â Â Â Â Total 
$709,903 

$679,853 




Liabilities and Stockholders’ Equity 


Accounts payable 
$47,460 

$39,754 
Bonds payable 
261,050 

300,300 
Common stock, $1 par 
197,650 

158,400 
Retained earnings 
203,743 

181,399 
Â Â Â Â Total 
$709,903 

$679,853 
Additional information:
 Operating expenses include depreciation expense of $41,747 and charges from prepaid expenses of $6,045.
 Land was sold for cash at book value.
 Cash dividends of $14,684 were paid.
 Net income for 2013 was $37,028.
 Equipment was purchased for cash. In addition, equipment costing $22,162 with a book value of $10,199 was sold for $6,272 cash.
 Bonds were converted at face value by issuing 39,250 shares of $1 par value common stock.
Instructions: (24 points) Prepare a statement of cash flows for the year ended December 31, 2013, using the indirect method.
Jun 24, 2015  accounting
identify and explain the characteristic features of accounting information, accounting assumptions, and accounting cycle used in the preparation of financial statements of selected company
The purpose of this assignment is to provide learners the opportunity to explain the characteristic features of accounting information, accounting assumptions and accounting cycle involved in preparing financial statements.
Structure of the assignment is Â given below;
 Summary
 Able to summarize at least four significant points of the topic of discussions presented in the paper
 Introduction of the selected company
 Clear and detailed introduction of the company which covered all of the following
 Vision, mission, financial highlights, main activities, products or Â services
3.Explain the characteristic features of the accounting information
 Clear and detailed explanation about the characteristic features of accounting information with clear supporting examples
4.Identification and explanation of accounting assumptions used in the preparation of financial statements
 Identify and explain clear accounting assumptions used in the selected company
5.Explain the accounting cycle involved in the preparation of financial statements
 Detailed and clear explanation of accounting cycle involved in the preparation of financial statements with relevant examples based on selected company
SlecetÂ http://www.stomaldives.com/ Â as a company
Minimum ( 5 pages )
Give proper referncing
Jun 24, 2015  accounting
KLP Corporation (Assume all purchases are made in cash unless otherwise stated)
KLP Corporation
(Assume all purchases are made in cash unless otherwise stated)
KLP Corp. specializes in servicing and repairing diesel engines and restoring cars for clients.Â Kris, the CEO, began financing operations on January 1, 2013, with an initial personal investment of $500,000.Â The corporation immediately spent $30,000 cash on an initial deposit for a garage and office to base its operations, signing a $200,000 10year 4% mortgage for the remainder of the payment.Â The mortgage is a special mortgage with interest payable on January 1 of each year and the entire principal due upon maturity (both the garage and office have a useful life of 30 years).Â KLP also used $75,000 of cash to purchase equipment that Kris estimated can be reused in repairs and restorations for up to 5 years, as well as $10,000 of garage supplies (oil, lubricant, autoparts) that are singleuse in the ordinary course of repairs and restorations.Â The garage supplies were purchased on credit with a supplier that extended KLP terms that allow Kris to pay at the end of the three months.Â KLP purchased a computer for $2,300 as well as a $200 software system that helps him keep track of client service request, invoices and bookkeeping for the businessâ€”the computer is assessed to be usable for three years and the software relevant for the companies needs for two years.Â Finally, KLP Corp. prepaid $24,000 for a twoyear insurance contract covering the business for common protections.Â All of these purchases took place during the month of January with KLP Corp. officially opening for business on February, 1 2013.
During the first three months of business, February to April, KLP Corp. performed repairs amounting to $120,000 in sales and restorations for $10,000 in sales.Â $75,000 of these revenues were paid in cash with $55,000 paid for on credit by a local business who signed a contract to use KLPâ€™s services on credit terms.Â These services used up $7,500 of supplies.Â KLP Corp. paid off the original order of supplies that it had purchased on credit and placed a second order for $25,000 of supplies that were shipped by the end of April.Â KLP Corp. signed a payable for these supplies as well that will come due at the end of the year, December 31.Â On April 30, KLP Corp. spent $2,000 developing and filing the proper legal fees for a company trademark and placed a $12,000 cash prepayment for 12 months of advertising to increase sales.
During the next eight months, KLP Corp. performed $380,000 of repairs and $15,000 of restorations.Â Again, $345,000 of these sales were paid in cash, while $50,000 were paid in credit by local businesses with credit agreements.Â KLP had collected $60,000 cash on these credit sales by the end of the year.Â Kris had $9,500 of supplies remaining after performing repairs and restorations over the eight months and paid off its outstanding $25,000 payable.Â At the end of year, KLP assessed its bad debt expense at $5,500.Â KLP uses straightline depreciation on all its fixed assets.Â No impairment was deemed necessary on its trademark.Â KLP Corp. faces a 40% marginal tax rate.
On January 1, 2014, William, a financial broker, became Krisâ€™ partner, investing $250,000 in the business. KLP expanded its garage by purchasing a neighboring garage bay for $50,000 cash and hiring employees to accommodate its expanding clientele.Â KLP also ordered $50,000 worth of supplies on credit with payment due at June 1, 2014.Â KLP did not renew its advertising contract, believing that it had established a name.
By June 1, KLPâ€™s sales had exceeded expectations with its repairs, registering $350,000 in repairs and $17,500 in restorations, using $55,000 of garage supplies.$300,000 of these were paid in cash and $67,500 paid on credit.Â KLP sold equipment originally purchased for $15,000 that had accumulated $4,000 of depreciation for $9,000 cash.Â KLP replaced the sold equipment with a $30,000 new machine on June 1 and made repairs to some preexisting equipment for $10,000.Â Also on this date, Kris and William reached a mutual decision to discontinue its flagging restorations segment of business.Â Again, KLP paid off its existing accounts payable and purchased another $30,000 on credit due December 31, 2014.Â KLP also established a new prepaid contract with a local company, agreeing to repairs its trucks over a period of one year for $200,000 paid on June 1, the contract entitles the customer to unlimited repairs over the period.Â Also on June 1, William invested $75,000 in debt securities and $40,000 in equity securities.Â William suggested KLP Corp. hold $50,000 of the debt securities as held to maturity and the remaining $25,000 debt securities as available for sale (all debt securities had a maturity of 20 years).Â The equity securities were all classified as trading securities.
In the final seven months of business, KLP performed $425,000 of repairs and $11,500 in restorations, all of these services were paid in cash and used up $25,000 of supplies.Â KLP paid off all outstanding supply contracts and collected $45,000 of its credit sales.Â It assessed its bad debt expense at $3,000 for the year.Â The additional garage space is being depreciated over 29 years (to match the useful life of the original space).Â The additional equipment purchased this year is expected to last only three years.Â KLP paid its employees $90,000 for their services and promised a $10,000 bonus on January 1, 2015.Â William and Kris withdrew $20,000 each at the end of the year.Â The available for sale securities had an unrealized net loss of $2,000 in value and the trading securities had an unrealized net gain of $4,500 in value, while its heldtomaturity securities had an unrealized net gain of $1,000.The heldtomaturity debt securities had an amortized cost of $47,750 after amortizating of their discount for the period.Â Its discontinued restorations segment has a net book value of $30,000 and had an assessed fair market value of $23,000 on December 31 and remains unsold.Â After some finagling by William, KLP Corp. faces an effective tax rate of 35%.
Assignment #1
Provide journal entries, closing entries and adjusting entries for 2013 and 2014. (12 pts)
Provide an unadjusted trial balance for 2013 and 2014. (4 pts)
Describe any difference between recording KLPâ€™s equipment and KLPâ€™s supply accounts.Â Why is it important to make this distinction (address how these differences affect affect adjusting entry accounts and financial statements)? (2 pts)
When KLP spends $10,000 on its preexisting equipment, how did you record this transaction?Â Could you think of an alternative way to record it?Â How would you decide the appropriate manner in which to record these improvements?(2 pts)
Assignment #2
Provide a balance sheet for 12/31/13 and 12/31/14 and an income statement for the years 2013 and 2014. (12 pts)
Assess KLPâ€™s liquidity, solvency and financial flexibility for the two years.Â Assess the companies return on assets and interest coverage ratio for the two years. (5 pts)
If KLP believed its new machinery, added in 2014, would bring in 70% of its revenue generating ability in the first year and 15% in the years thereafter, would you suggest straightline depreciation?Â What alternatives are available?Â (hint: consider the matching principle and use it to explain your response) (3 pts)
Assignment #3
Provide a statement of cash flows for 2013 and 2014. (20 pts) use indirect method.
Jun 24, 2015  accounting
Luemas Corporation
1) Luemas Corporation recently reported the following income statement for 2004 (numbers are in millions of dollars): Sales $12,500 Total operating costs 5,700 EBIT $6,800 Interest 150 Earnings before tax (EBT) $6,650 Taxes (40%) 2,660 Net income available to common shareholders $3,990 The company forecasts that its sales will increase by 8 percent in 2005 and its operating costs will increase in proportion to sales. The company’s interest expense is expected to remain at $150 million, and the tax rate will remain at 40 percent. The company plans to pay out 70 percent of its net income as dividends, the other 30 percent will be additions to retained earnings. What is the forecasted addition to retained earnings for 2005?
2) Blease Inc. has a capital budget of $625,000, and it wants to maintain a target capital structure of 60% debt and 40% equity. The company forecasts a net income of $475,000. If it follows the residual dividend policy, what is its forecasted dividend payout ratio?
Jun 24, 2015  accounting
Store Annandale Blacksburg Charlottesville Danville Sales
following from Ch. 1 and Ch. 2 of Operations Management: â€¢Problem 11 â€¢Problem 12 â€¢Problem 21 1 1. Tried and True Clothing has opened four new stores in college towns across the state. Data on monthly sales volume
and labor hours are given below. Which store location has the highest labor productivity? Store Annandale Blacksburg Charlottesville Danville Sales volume $40,000 $12,000 $60,000 $25,000 Labor hours 250 60 500 200 1 2. Tried and Trueâ€™s accountant (from Problem
11) suggests that monthly rent and hourly wage rate also be factored into the productivity calculations. Annandale pays the highest average wage at $6.75 an hour. Blacksburg pays $6.50 an hour, Charlottesville $6, and Danville $5.50. The cost to rent store
space is $1800 a month in Annandale, $2000 a month in Blacksburg, $1200 a month in Charlottesville, and $800 a month in Danville. 1. Which store is most productive? 2. Tried and True is not sure it can keep all four stores open. Based on multifactor productivity,
which store would you close? What other factors should be considered? 2 1. Backwoods American, Inc., produces expensive waterrepellent, downlined parkas. The company implemented a total qualitymanagement program in 2005. Following are qualityrelated accounting
data that have been accumulated for the fiveyear period after the programâ€™s start. Year 2006 2007 2008 2009 2010 Quality Costs (000s) Prevention $3.2 10.7 28.3 42.6 50.0 Appraisal 26.3 29.2 30.6 24.1 19.6 Internal failure 39.1 51.3 48.4 35.9 32.1 External
failure 118.6 110.5 105.2 91.3 65.2 Accounting Measures (000s) Sales $2,700.6 2,690.1 2,705.3 2,310.2 2,880.7 Manufacturing cost 420.9 423.4 424.7 436.1 435.5 1. Compute the companyâ€™s total failure costs as a percentage of total quality costs for each of the
five years. Does there appear to be a trend to this result? If so, speculate on what might have caused the trend. 2. Compute prevention costs and appraisal costs, each as a percentage of total costs, during each of the five years. Speculate on what the companyâ€™s
quality strategy appears to be. 3. Compute qualitysales indices and qualitycost indices for each of the five years. Is it possible to assess the effectiveness of the companyâ€™s qualitymanagement program from these index values? 4. List several examples of
each qualityrelated costâ€”that is, prevention, appraisal, and internal and external failureâ€”that might result from the production of parkas.
Jun 24, 2015  accounting
Use the following current yearÂ financial statements for Precision Manufacturing to perform ratio analysis.
Precision Manufacturing Income StatementÂ Â Â Â Â Â
RevenueÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 8,200,000
Cost of goods soldÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 5,100,000
Gross profitÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 3,100,000
Operating expensesÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 2,500,000
Operating income (EBIT)Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 600,000
Interest expenseÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 390,000
Earnings before taxesÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 210,000
Taxes (at 40%)Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 84,000
Net incomeÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 126,000
Precision Manufacturing Balance Sheet
Current assetsÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
CashÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 125,000
AccountsÂ receivableÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 900,000
InventoryÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 575,000
Total current assetsÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1,600,000
Noncurrent assets
Fixed assetsÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 5,500,000
Accumulated depreciationÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â (1,100,000)
Net fixed assetsÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 4,400,000
Total assetsÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $6,000,000
Current liabilities
Accounts payableÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â $945,000
Accrued liabilitiesÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 855,000
Total current liabilitiesÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1,800,000
Noncurrent liabilities
Bonds payableÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 2,600,000
Total liabilitiesÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 4,400,000
Shareholders’ equity
Common stockÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 140,000
Retained earningsÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1,460,000
Total shareholders’ equityÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1,600,000
Total liabilities and shareholders’ equityÂ Â Â Â Â Â Â Â Â Â Â Â Â $6,000,000
Jun 23, 2015  accounting
Q1. Discuss the key functions of the American Institute of CPAs (AICPA). Has the establishment of PCAOB change any of the key functions if AICPA? Elaborate.
Q2. Distinguish between â€˜Principlesâ€™ and â€˜Rules of Conductâ€™ as described in the AICPA Code of Professional Conduct and discuss their applicability to Certified Public Accountants.
Your homework submission (all questions combined) should be 2 to 3 pages in length (double spaced, Times New Roman 12 or Arial 10 Font).
Jun 23, 2015  accounting
Instructions:
1) Calculate lost profit damages and royalties in the Cat Toy Case assuming that the only other company selling infringing cat toys is SportPet. (Calculations have already been started on the attached excel spreadsheet on the calculations tab. They need to be fixed as they are incorrect. The suggestions are highlighted in yellow.)
2) In minimum one page of word document, give some background on how you proceeded to turn those assumed lost sales into actual lost profits.
Attachments:
the_cat_toy_case_study.pdf
lost_profits_and_royalties_calculations.xls
Jun 23, 2015  accounting
Production Cost Accounting â€“ Weighted Average Method
Maple, Inc. manufactures syrup that goes through three processing stages prior to completion.Â Information on work in the first department, blending, is given below for August:
Production Data: 

Pounds in process, August 1; materials 100% complete; conversion 70% complete 
3,000 

Pounds started into production during August 
85,000 

Pounds completed and transferred out 
? 

Pounds in process, August 31; materials 80% complete; conversion 30% complete 
6,000 
Cost Data: 

Work in process inventory, August 1:
Materials cost 
$900 

Conversion cost 
$5,900 

Cost added during May:
Materials cost 
$151,000 

Conversion cost 
$161,700 
The company uses the weightedaverage method.
Instructions:
Use an excel document with each tab labeled by item number, which demonstrates the following:
 Compute the equivalent units of production.
 Determine the cost of ending work in process inventory and of the units transferred out to the next department.
 Prepare a cost reconciliation schedule for the month.
Provide your answers in a clearly organized Excel spreadsheet.Â Provide a brief paragraph explaining each calculation.Â Check spelling and formatting for readability. Document your sources, APA citations.
Jun 23, 2015  accounting
You are required to do a cost analysis (CBA).Â Â You canÂ choose an item that you wouldÂ like to manufacture.Â You will pretend that youÂ are planning on manufacturing the item that you have selected.Â In a 1 page Word, demonstrate your knowledge of cost analysis for that product.Â APA citations required.
Jun 22, 2015  accounting
Answer all 4 questions, they are just simple calculations?
1.
Maddy works at Burgers R Us. Her boss tells her that if she stays with the company for five years, she will receive a bonus of $5,400.
With an annual discount rate of 8%, calculate the presesnt value today of receiving $5,400 in five years?


2.
Calculate the present value of the following single amounts?
Â Â Â Â Future Value Â Â Annual Rate Â Interest Compount Â Period invested Â Present Value
1 Â Â Â $9,200 Â Â Â Â Â Â Â Â Â 4% Â Â Â Â Â Â Â Â Â Anually Â Â Â Â Â Â Â Â Â 3 years
2. Â Â Â 6,200 Â Â Â Â Â Â Â Â 10% Â Â Â Â Â Â Semiannually Â Â Â Â Â Â 6 years
3. Â Â Â 5,200 Â Â Â Â Â Â Â Â Â 8% Â Â Â Â Â Â Â Â Quarterly Â Â Â Â Â Â Â Â Â 2 years

3.Â Tatsuo has just been awarded a fouryear scholarship to attend the university of his choice. The scholarship will pay $12,500 each year for the next four years to reimburse normal schoolrelated expenditures. Each $12,500 payment will be made at the end of the year, contingent on Tatsuo maintaining good grades in his classes for that year. Assuming an annual interest rate of 6.0%, determine the value today of receiving this scholarship if Tatsuo maintains good grades?
Present Value of Annuity?
4.Â Calculate the present value of the following annuities, assuming each annuity payment is made at the end of each compounding period?



Annuity Payment 
Annual Rate 
Interest Compounded 
Period Invested 
Present Value of Annuity 
1. 
$5,400 
6.0% 
Quarterly 
2 years 

2. 
10,400 
8.0% 
Annually 
5 years 

3. 
4,400 
16.0% 
Semiannually 
3 years 

Jun 22, 2015  accounting
PrepareÂ a 700 to 1,050word paper explaining the overall accounting cycle at your organization.
IncludeÂ a description of the people, processes, and systems that are integral to the cycle. Please note: this assignment should not be considered as a personal essay but an example of academic writing. See Model Paper in Course Materials folder as an example
Jun 22, 2015  accounting
ACC 421 Week 1 Individual Assignment Accounting Cycle Paper
PrepareÂ a 700 to 1,050word paper explaining the overall accounting cycle at your organization.
IncludeÂ a description of the people, processes, and systems that are integral to the cycle. Please note: this assignment should not be considered as a personal essay but an example of academic writing. See Model Paper in Course Materials folder as an example
Jun 19, 2015  accounting
A manufacturing company is thinking of launching a new product. The company expects to sell $950,000 of the new product in the first year and $1,500,000 each year thereafter. Direct costs including labor and materials will be 45% of sales. Indirect incremental costs are estimated at $95,000 a year. The project requires a new plant that will cost a total of $1,500,000, which will be a depreciated straight line over the next 5 years. The new line will also require an additional net investment in inventory and receivables in the amount of $200,000.
Assume there is no need for additional investment in building the land for the project. The firm’s marginal tax rate is 35%, and its cost of capital is 10%.
To receive full credit on this assignment, please show all work, including formulae and calculations used to arrive at financial values.
Assignment Guidelines
 Using the information in the assignment description:
 Prepare a statement showing the incremental cash flows for this project over an 8year period.
 Calculate the payback period (P/B) and the net present value (NPV) for the project.
 Answer the following questions based on your P/B and NPV calculations:
 Do you think the project should be accepted? Why?
 Assume the company has a P/B (payback) policy of not accepting projects with life of over 3 years.
 If the project required additional investment in land and building, how would this affect your decision? Explain.
Your submitted assignment (130 points) must include the following:
 A doublespaced Word document of 2â€“3 pages that contains your calculation values, your complete calculations, any formulae that you used, and your answers to the two questions listed in the assignment guidelines.
 You must include your explanation of how you used Excel for your calculations if applicable.
Grading
You will be graded on the accuracy of your value calculations as well as your demonstrated understanding of payback periods, net present value, and cash flows.
Deliverable Length:Â 23 pages
Analyze project analysis and evaluation processes
Evaluate capital project techniques and cost of capital valuation
Execute concepts of NPV and cash flow analysis
Jun 15, 2015  accounting
ACC 205 Week 3 DQ1 LIFO vs. FIFO
LIFO vs. FIFO
The controller of Sagehen Enterprises believes that the company should switch from the LIFO method to the FIFO method. The controllerâ€™s bonus is based on the next income. It is the controllerâ€™s belief that the switch in inventory methods would increase the net income of the company. What are the differences between the LIFO and FIFO methods?
Jun 15, 2015  accounting
ACC 281 Week 3 Methods of Analysis
Methods of Analysis. In a 2 to 3 page paper, evaluate the three methods of analysis: horizontal, vertical, and ratio as explained in Chapter 9 of your textbook. Summarize each method, and discuss how the financial information is used to make a particular decision. Provide a scenario in a health care situation in which a given method of analysis might be used.
Jun 13, 2015  accounting
Please HELP. I can’t seem to figure this out.
Here is the question:
Suppose that you are analyzing Martin Company. You know that at the beginning of the year, the Assets equaled $390,000 and the Liabilities equaled $214,500. During the year, Assets increased by $58,500 and Equity increased by $90,675. The change in equity includes all increases and decreases. Further analysis reveals that the changes in Equity were caused by revenues of $272,025 and expenses totaling $136,890 during the year. Because of the understanding of the accounting equation, you realize that distribution (dividends) to the stockholders must have also occurred during the year. However, you must DETERMINE THE AMOUNT for those DISTRIBUTIONS.
What is the amount of distributions made to the owner of Martin Company during the year? $______________
What equation did you use?
Jun 12, 2015  accounting
Accounting
APA format 1page Discuss why the cost allocation method used by an organization is an important part of its cost accounting system.
Jun 10, 2015  accounting
E54 Inventory Accounting – Harris Company
E54
On June 10, Harris Company purchased $9,000 of merchandise from Goetz Company, terms 3/10, n/30. Harris pays the freight costs of $400 on June 11.
Goods totaling $600 are returned to Goetz for credit on June 12.
On June 19, Harris Company pays Goetz Company in full, less the purchase discount. Both companies use a perpetual inventory system.
Instructions
(a) Prepare separate entries for each transaction on the books of Harris Company.
(b) Prepare separate entries for each transaction for Goetz Company. The merchandise purchased by Harris on June 10 cost Goetz $5,000, and the goods returned cost Goetz $310.
Jun 3, 2015  accounting
This first case is about reading, researching, and familiarizing yourself with the purpose and importance of management accounting in todayâ€™s organization. Managerial accounting is both about understanding concepts and ability to read and analyze financial information for internal use. Accordingly, this course is a mixture of reading, research, computations, and analysis.
Reading the background material for a basic understanding and then doing additional research to elaborate on the ideas is the approach for this first case. Discuss and analyze the difference between managerial and financial accounting. Pay particular attention to:
How is managerial accounting different from financial accounting?
Comment on the different needs and use of financial information for internal purposes.
The managerial accounting profession and its role in todayâ€™s business environment. How has it changed over time?
Comment on the Certified Management Accountant (CMA) designation.
It is important to answer the questions above. The discussion should be three to five pages and written in a clear and concise manner. Support your discussion with references in APA format. You are encouraged to use Excel or other compatible spreadsheet when computations are involved.
May 29, 2015  accounting
Assignment Overview
General Mills
http://www.generalmills.com
Meiji Holdings Co., Ltd.
http://www.meiji.com/english/corporate/data/group/
Required:
Go to each companyâ€™s website,Â review the most recent financial statements forÂ the company, and then answer the following questions.
 What accounting standards are used?
 What auditing standards are used by the external auditors?
 Analyze and comment on the differences in the annual statements found on the companies’ websites. Provide a few specific differences in content and format.
 Explain and illustrate the difference between an annual report, a 10K, and a Corporate Social Responsibility Report. Comment on the type of reports issued by both companies.
 How comparable are these financial statements?
Prepare a table for a period of three years showing some key financial information for the two companies. Include at least four items from the balance sheet, four items from the income statement, and four items from the statement of cash flow. Having reviewed and analyzed the financial information, please elaborate on the following three questions:
 Which one of the two companies is the most profitable?
 Compare growth of revenues vs. income over time and between the two companies.
 How can you explain the difference in profitability between the two companies?
 Indicate in detail the information you used to answer the above questions.
Assignment Expectations
It is important to answer the questions as posed. The discussion should beÂ 4 toÂ 6 pages and written in a clear and concise manner. Support your discussion with references in APA format. You are encouraged to use Excel or other compatible spreadsheet software when computations are involved.
Upload your completed assignment.
May 26, 2015  accounting
 The submission is to beÂ one Excel file.Â Â Your Excel file should be titled with your last name & “case study 1.”
 The problem has 4 parts.Â Your answers should be clearly marked by part number.
 Part 4 is a memo. Â Â You shouldÂ prepare the memo in Word and then cut and paste special (select Microsoft Work Document Object) into your excel worksheet or insert a text box into your worksheet and type your narrative into the text box.
 All calculations are to be shown, including the use of Excel formulas where applicable.
May 26, 2015  accounting
Accounting is the study of how businesses track their income and assets over time. Accountants engage in a wide variety of activities besides preparing financial statements and recording business transactions. These activities include computing costs and
Write a one to two (12) page paper in which you:
 Describe at least two (2) career options someone with an accounting education can pursue. Be sure to reference sources such as the Bureau of Labor Statistics and the American Institute of Certified Public Accountants.
 Describe one (1) researched accounting position, and explain the essential skills that would make a candidate successful in the position. Articulate the primary manner in which the researched accounting positions could add value to the company seeking candidates.
 Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
 Be typed, double spaced, using Times New Roman font (size 12), with oneinch margins on all sides; citations and references must follow APA or schoolspecific format. Check with your professor for any additional instructions.
 Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
 Identify and explain the fundamental concepts and principles in accounting, the components of the accounting equation, the primary financial accounting equation, and financial statements and reports.
 Use technology and information resources to research issues in financial accounting.
 Write clearly and concisely about financial accounting using proper writing mechanics.
May 26, 2015  accounting
Complete the following questions. Submit journal entries in an Excel Template, linked below, and any written segments in Excelâ€™s comments function. Do not submit two separate documents, as only one document can be accepted. For written answers, please make sure your responses are well written, formatted per CSUGlobal Guide to Writing and APA Requirements and have proper citations, if applicable.
Assume that the following facts pertain to a noncancelable lease agreement between FifthThird Leasing Company and Bob Evans Farms, a lessee.
Inception date 
January 1Â 2014

Annual lease payment due at the beginning of each year, beginning with January 1, 2014 
$81,365

Residual value of equipment at end of lease term, guaranteed by the lessee 
$50,000

Lease term 
6 years

Economic life of leased equipment 
6 years

Fair value of asset at January 1, 2014 
$400,000

Lessorâ€™s implicit rate 
12%

Lesseeâ€™s incremental borrowing rate 
12%

The lessee assumes responsibility for all executory costs, which are expected to amount to $4,000 per year. The asset will revert to the lessor at the end of the lease term. The lessee has guaranteed the lessor a residual value of $50,000. The lessee uses the straightline depreciation method for all equipment.
 Using the Excel Template spreadsheet, linked here, prepare an amortization schedule that would be suitable for the lessee for the lease term.
 Using the same spreadsheet set up an area for journal entries, prepare the journal entries for the lessee for 2014 and 2015 to record the lease agreement and all expenses related to the lease. Record them clearly in that spreadsheet. Assume the lesseeâ€™s annual accounting period ends on December 31 and that reversing entries are used when appropriate.
May 26, 2015  accounting
I need a model answer for exam paper, the Q is about fair value. i need the answer to be as following. please contain all the point in the answer.
1 First Paragraph
– Define fair value measurement ( there is a new defintion IFRS 13)
– importance of fair value
2 – Â Secound paragraph
– advantages and disadvantages
For example: Transparency & reflect market condition
3 Third paragraph
explain the characteristics of financial crisis while you explain Fair value and the effect of fair value in financial crisis.
For example: Liquidity of the market & market volatility
4 Fourth paragraph
– explain the three levels of fair value measurement and give examples.
Note: please see the attached files i upload some could be helpfull for the answer.
May 26, 2015  accounting
 Please identify four of the financial statements a forprofit organization will compile, define them, and then describe how they interact with each other.
 Write a 2 page paper explaining how it works.
May 26, 2015  accounting
This project requires you to use the tools of financial ratios to evaluate the current and past performance (for the most recent three years) of two firms from a single industry. Then you have to prepare a comprehensive and comparative analysis. The written report must be typed. All students will have to submit their project report (3 pages excluding tables, figures, and references) Your analysis should use only publicly available information (Standard & Poorâ€™s Industry Surveys, Form 10K, etc). You must attach the firmsâ€™ financial reports used in your project. Guidelines and Procedure:
 Obtaining and using sufficient financial statement data for two publicly traded firms selected in a particular industry.
 a) Use Form 10K or annual report as the primary source.â€¨b) Usethemostrecentthreeyearsofincomestatementsandstatementsofcash
flows and the most recent four years of balance sheets.â€¨c) The extra year for the balance sheet is for calculating average accounts on certain
accounts on the balance sheet and particular financial ratios for a year.â€¨d) Theaverageamountisthesumoftheamountsonthebalancesheetatthe
beginning and end of the year divided by 2.
 Study the financial statements and notes.
 Input the financial statement data into Excel spreadsheet.
 Program the spreadsheet to compute the financial ratios (based on formula sheets â€¨from Chapters 4 & 5). However, you are NOT required to compute the basic EPS, diluted EPS, Altmanâ€™s Zscore, and the returns on common stock based on Capital Asset Pricing Model (CAPM).
 Perform the quantitative analysis of profitability and risk ratios.
 Compare two companies in the same industry based on the financial ratios you â€¨calculate above. Interpret your main findings for the analysis of the financial ratios.
.Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â a) Â Do a timeseries analysis for each firm first. Explain those financial ratios that â€¨have changed significantly over time. Itâ€™s helpful to read the Management Discussion and Analysis section of the annual report to shareholders or the Form 10K to find explanations for the timeseries changes.
.Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â b) Â Do crosssection comparisons across two firms over time. Explain those financial ratios differ significantly across firms.
 Identify the financial problems that may have impact on the sustainability of profits.
 Make investment recommendation based on your analysis and comparisons.
May 26, 2015  accounting
Schweser Satellites Inc. produces satellite earth stations that sell for $95,000 each. The firm’s fixed costs, F, are $2 million, 50 earth stations are produced and sold each year, profits total $600,000; and the firm’s assets (all equity financed) are $6 million.
The firm estimates that it can change its production process, adding $3.5 million to investment and $520,000 to fixed operating costs.
This change willÂ (1) reduce variable costs per unit by $8,000 andÂ (2) increase output by 25 units, butÂ (3) the sales price on all units will have to be lowered to $90,000 to permit sales of the additional output.
The firm has tax loss carryforwards that render its tax rate zero, its cost of equity is 13%, and it uses no debt.Â a.What is the incremental profit? $
To get a rough idea of the project’s profitability, what is the project’s expected rate of return for the next year (defined as the incremental profit divided by the investment)? Round your answer to two decimal places. %
Should the firm make the investment?
May 24, 2015  accounting
May 22, 2015  accounting
Complete Brief Exercises BE414 and answer the following questions.
 Explain why accountants record closing journal entries, the importance of closing entries and what would happen if these entries were not recorded.
Submit as either a MicrosoftÂ® ExcelÂ® or MicrosoftÂ® Word document.
Click the Assignment Files tab to submit your assignment.
May 21, 2015  accounting
You are the auditor for a company and need to review the companyâ€™s accounts receivable using probability proportional to size (PPS) sampling. In addition, the board of directors has requested that you and your team present an explanation of your PPS process at its next monthly meeting.
Individual Portion:
Use the following company data and the PPS Sampling Tables 1 & 2:
 The recorded book value of these accounts is $3,460,000.
 The company has a tolerable error of $63,460.
 The anticipated error is $13,000.
 The risk of incorrect acceptance is 5%.
 The acceptable number of overstatements of misstatements is 2.
Use probability proportional to size (PPS) sampling to do the following:
 Determine the reliability factor.
 Determine the correct expansion factor.
 Determine the sample size you should use.
 Determine the sampling interval you should use.
May 21, 2015  accounting
Receivables Investment
Snider Industries sells on terms of 3/10, net 30. Total sales for the year are $1,944,000. Thirty percent of the customers pay on the 10th day and take discounts; the other 70% pay, on average, 64 days after their purchases. Assume 365 days in year for your calculations.
a.What is the days sales outstanding? Round your answer to one decimal place.
days
b.What is the average amount of receivables? Round your answer to the nearest dollar.
c.What would happen to average receivables if Snider toughened up on its collection policy with the result that all nondiscount customers paid on the 30th day? Round your answer to the nearest dollar.