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Week Three Exercise Assignment
Inventory
1. Specific identification method. Boston Galleries uses the specific identification method for inventory valuation. Inventory information for several oil paintings follows.
|
Painting
|
Cost
|
|
1/2 Beginning inventory
|
Woods
|
$21,000
|
|
4/19 Purchase
|
Sunset
|
21,800
|
|
6/7 Purchase
|
Earth
|
31,200
|
|
12/16 Purchase
|
Moon
|
4,000
|
| |
|
|
|
Woods and Moon were sold during the year for a total of $35,000. Determine the firm’s
a. cost of goods sold.
b. gross profit.
c. ending inventory.
2. Inventory valuation methods: basic computations. The January beginning invenÂtory of the Gilette Company consisted of 300 units costing $40 each. During the first quarter, the company purchased two batches of goods: 700 Units at $44 on February 21 and 800 units at $50 on March 28. Sales during the first quarter were 1,400 units at $75 per unit. The White Company uses a periodic inventory system. Using the White Company data, fill in the following chart to compare the results obtained under the FIFO, LIFO, and weighted-average inventory methods.
|
FIFO
|
LIFO
|
Weighted Average
|
|
|
|
|
|
Goods available for sale
|
$
|
$
|
$
|
|
Ending inventory, March 31
|
|
Cost of goods sold
|
| |
|
|
|
|
|
3. Perpetual inventory system: journal entries. At the beginning of 20X3, Beehler Company implemented a computerized perpetual inventory system. The first transactions that occurred during 20X3 follow:
· 1/2/20X3 Purchases on account: 500 units @$6 = $3,000
· 1/15/20X3 Sales on account: 300 units @ $8.50 = $2,550
· 1/20/20X3 Purchases on Account: 200 units @ 5 = $1,000
· 1/25/20X3 Sales on Account: 300 units @ $8.50 = $2,550
The company president examined the computer-generated journal entries for these transactions and was confused by the absence of a Purchases account.
a. Duplicate the journal entries that would have appeared on the computer printout under FIFO & LIFO
b. Calculate the balance in the firm’s Inventory account under each method.
c. Briefly explain the absence of the Purchases account to the company president.
4. Inventory valuation methods: computations and concepts.
Wild Riders Surfboard Company began business on January 1 of the current year. Purchases of surfboards were as follows:
|
Date
|
Quantity
|
Unit Cost
|
Total Cost
|
|
1/3
|
100
|
$125
|
$12,500
|
|
4/3
|
200
|
$135
|
$27,000
|
|
6/3
|
100
|
$145
|
$14,500
|
|
7/3
|
100
|
$155
|
$15,500
|
|
Total
|
500
|
|
$69,500
|
Wild Riders sold 400 boards at $250 per board on the dates listed below. The company uses a perpetual inventory system.
|
Date
|
Quantity Sold
|
Unit Price
|
Total Sales
|
|
3/17
|
50
|
$250
|
$12,500
|
|
5/17
|
75
|
$250
|
$18,750
|
|
8/10
|
275
|
$250
|
$68,750
|
|
Total
|
400
|
|
$100,000
|
Instructions
a. Calculate cost of goods sold, ending inventory, and gross profit under each of the following inventory valuation methods:
· First-in, first-out
· Last-in, first-out
· Weighted average
b. Which of the three methods would be chosen if management’s goal is to
(1) produce an up-to-date inventory valuation on the balance sheet?
(2) show the lowest net income for tax purposes?
5. Depreciation methods. Mike Davis Enterprises purchased a delivery van for $40,000 in January 20X7. The van was estimated to have a service life of 5 years and a residÂual value of $6,000. The company is planning to drive the van 20,000 miles annually. Compute depreciation expense for 20X8 by using each of the following methods:
a. Units-of-output, assuming 17,000 miles were driven during 20X8
b. Straight-line
c. Double-declining-balance
6. Depreciation computations. Alpha Alpha Alpha, a college fraternity, purchased a new heavy-duty washing machine on January 1, 20X3. The machine, which cost $2,000, had an estimated residual value of $100 and an estimated service life of 4 years (1,800 washing cycles). Calculate the following:
a. The machine’s book value on December 31, 20X5, assuming use of the straight-line depreciation method
b. Depreciation expense for 20X4, assuming use of the units-of-output depreciation method. Actual washing cycles in 20X4 totaled 500.
c. Accumulated depreciation on December 31, 20X5, assuming use of the double-declining-balance depreciation method.
7. Depreciation computations: change in estimate. Aussie Imports purchased a specialized piece of machinery for $50,000 on January 1, 20X3. At the time of acquisition, the machine was estimated to have a service life of 5 years (25,000 operating hours) and a residual value of $5,000. During the 5 years of operations (20X3 – 20X7), the machine was used for 5,100, 4,800, 3,200, 6,000, and 5,900 hours, respectively.
Instructions
a. Compute depreciation for 20X3 – 20X7 by using the following methods: straight line, units of output, and double-declining-balance.
b. On January 1, 20X5, management shortened the remaining service life of the machine to 15 months. Assuming use of the straight-line method, compute the company’s depreciation expense for 20X5.
c. Briefly describe what you would have done differently in part (a) if Aussie Imports had paid $47,800 for the machinery rather than $50,000 In addition, assume that the company incurred $800 of freight charges $1,400 for machine setup and testing, and $300 for insurance during the first year of use.
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Case Study
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How Technology Meets Business and Management Needs
In a 5 – 7 page paper, describe a non-e-commerce Business to Business or Business to Customer and select the appropriate technology for that business. Analyze and differentiate between the strategic and operational uses of informational systems. Explain how the software, applications, information system selected meets the needs of the business and provide a review of issues and future considerations for the business’s information management needs.
Requirements:
Identify a technology solution (or multiple solutions) that would meet their needs. (3 – 4 pages)
Differentiated between the strategic and operational uses of the recommended technology.
Conclude by discussing future considerations for technology and information systems to meet the business and management needs.
The case study should include the following:
Text for the class: McKinney, E, & Kroenke, D. (2014). Processes, Systems, and Information: An Introduction to MIS (2nd Edition).
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**KIM WOODS** Global Crime Issues Paper
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Identify the current crimes and criminal issues that impact the criminal justice system on a global basis.
Write a 1,400- to 2,000-word paper that addresses the following:
Format your paper consistent with APA guidelines.
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Inventory
/in Uncategorized /by JosephIn the ever-evolving landscape of education, students face increasing challenges to meet the demands of their academic pursuits. Striking a balance between extracurricular activities, personal commitments, and a rigorous academic curriculum can be overwhelming. Amidst this struggle, online homework help services have emerged as invaluable resources for students seeking academic excellence. Among these, HomeworkProWriters.com shines as a beacon of light, standing tall as the best website for homework help.
Week Three Exercise Assignment
Inventory
1. Specific identification method. Boston Galleries uses the specific identification method for inventory valuation. Inventory information for several oil paintings follows.
Painting
Cost
1/2 Beginning inventory
Woods
$21,000
4/19 Purchase
Sunset
21,800
6/7 Purchase
Earth
31,200
12/16 Purchase
Moon
4,000
Woods and Moon were sold during the year for a total of $35,000. Determine the firm’s
a. cost of goods sold.
b. gross profit.
c. ending inventory.
2. Inventory valuation methods: basic computations. The January beginning invenÂtory of the Gilette Company consisted of 300 units costing $40 each. During the first quarter, the company purchased two batches of goods: 700 Units at $44 on February 21 and 800 units at $50 on March 28. Sales during the first quarter were 1,400 units at $75 per unit. The White Company uses a periodic inventory system. Using the White Company data, fill in the following chart to compare the results obtained under the FIFO, LIFO, and weighted-average inventory methods.
FIFO
LIFO
Weighted Average
Goods available for sale
$
$
$
Ending inventory, March 31
Cost of goods sold
3. Perpetual inventory system: journal entries. At the beginning of 20X3, Beehler Company implemented a computerized perpetual inventory system. The first transactions that occurred during 20X3 follow:
· 1/2/20X3 Purchases on account: 500 units @$6 = $3,000
· 1/15/20X3 Sales on account: 300 units @ $8.50 = $2,550
· 1/20/20X3 Purchases on Account: 200 units @ 5 = $1,000
· 1/25/20X3 Sales on Account: 300 units @ $8.50 = $2,550
The company president examined the computer-generated journal entries for these transactions and was confused by the absence of a Purchases account.
a. Duplicate the journal entries that would have appeared on the computer printout under FIFO & LIFO
b. Calculate the balance in the firm’s Inventory account under each method.
c. Briefly explain the absence of the Purchases account to the company president.
4. Inventory valuation methods: computations and concepts.
Wild Riders Surfboard Company began business on January 1 of the current year. Purchases of surfboards were as follows:
Date
Quantity
Unit Cost
Total Cost
1/3
100
$125
$12,500
4/3
200
$135
$27,000
6/3
100
$145
$14,500
7/3
100
$155
$15,500
Total
500
$69,500
Wild Riders sold 400 boards at $250 per board on the dates listed below. The company uses a perpetual inventory system.
Date
Quantity Sold
Unit Price
Total Sales
3/17
50
$250
$12,500
5/17
75
$250
$18,750
8/10
275
$250
$68,750
Total
400
$100,000
Instructions
a. Calculate cost of goods sold, ending inventory, and gross profit under each of the following inventory valuation methods:
· First-in, first-out
· Last-in, first-out
· Weighted average
b. Which of the three methods would be chosen if management’s goal is to
(1) produce an up-to-date inventory valuation on the balance sheet?
(2) show the lowest net income for tax purposes?
5. Depreciation methods. Mike Davis Enterprises purchased a delivery van for $40,000 in January 20X7. The van was estimated to have a service life of 5 years and a residÂual value of $6,000. The company is planning to drive the van 20,000 miles annually. Compute depreciation expense for 20X8 by using each of the following methods:
a. Units-of-output, assuming 17,000 miles were driven during 20X8
b. Straight-line
c. Double-declining-balance
6. Depreciation computations. Alpha Alpha Alpha, a college fraternity, purchased a new heavy-duty washing machine on January 1, 20X3. The machine, which cost $2,000, had an estimated residual value of $100 and an estimated service life of 4 years (1,800 washing cycles). Calculate the following:
a. The machine’s book value on December 31, 20X5, assuming use of the straight-line depreciation method
b. Depreciation expense for 20X4, assuming use of the units-of-output depreciation method. Actual washing cycles in 20X4 totaled 500.
c. Accumulated depreciation on December 31, 20X5, assuming use of the double-declining-balance depreciation method.
7. Depreciation computations: change in estimate. Aussie Imports purchased a specialized piece of machinery for $50,000 on January 1, 20X3. At the time of acquisition, the machine was estimated to have a service life of 5 years (25,000 operating hours) and a residual value of $5,000. During the 5 years of operations (20X3 – 20X7), the machine was used for 5,100, 4,800, 3,200, 6,000, and 5,900 hours, respectively.
Instructions
a. Compute depreciation for 20X3 – 20X7 by using the following methods: straight line, units of output, and double-declining-balance.
b. On January 1, 20X5, management shortened the remaining service life of the machine to 15 months. Assuming use of the straight-line method, compute the company’s depreciation expense for 20X5.
c. Briefly describe what you would have done differently in part (a) if Aussie Imports had paid $47,800 for the machinery rather than $50,000 In addition, assume that the company incurred $800 of freight charges $1,400 for machine setup and testing, and $300 for insurance during the first year of use.
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PLEASE HELP WITH MY PRINCIPLES OF FINANCE COURSE PROJECT
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Course Project – Stock Performance and Equity Investments
This is the fourth part of the course project. For this assignment, you will need to refer back to the five stocks selected in Module 03. This includes the two stocks analyzed last week in Module 08.
Required
In your assignment, discuss the following:
Your assignment should be a minimum of 2 written pages and utilize APA formatting. In-text citations and a reference page should also be included.
For complete details on the project, please refer to the Module 03 Course Project – Introduction page.
Submit your completed assignment to the drop box below. Please check the Course Calendar for specific due dates.
Save your assignment as a Microsoft Word document. (Mac users, please remember to append the “.doc” extension to the filename.) The name of the file should be your first initial and last name, followed by an underscore and the name of the assignment, and an underscore and the date. An example is shown below:
Jstudent_exampleproblem_101504
Need Help? Click here for complete drop box instructions.
i ATTACHED BELOW TWO PREVIOUS ASSIGNMENTS FROM MY COURSE PROJECT HOPEFULLY THIS WILL HELP YOUR TUTORS WITH THIS NEW ASSIGNMENT. BASICALLY WHAT i NEED IS A TWO PAGE PAPER ON THE FIVE STOCKS i HAVE CHOOSEN. WHICH IS ATTACHED BELOW. THE ASSIGNMENT IS CALLED MODULE 09 COURSE PROJECT – STOCK PERFORMANCE AND EQUITY INVESTMENTS. YOUR HELP IS GREATLY APPRECIATED. i AM WILLING TO PAY ANY AMOUNT NECCESARRY.
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Week 6 – Research Paper
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Focus of the Research Paper
The Research Paper will be a comprehensive research review of the significant principles of management communications used to successfully achieve organizational objectives. For this assignment of a minimum of eight pages, you need to integrate material from the readings, multimedia, and class discussion boards, and also reflect on professional experience where possible. It is mandatory to include research from the classroom text as well as from six scholarly sources to support your views. Consider the validity of your resources carefully before using them in academic papers. Use at least one professional example to address the topics below.
The following components must be included in order for the paper to be complete:
Writing the Research Paper
The Research Paper:
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What is the mass of a 35.0 gram per milliliter of silicon with a density of 2.336 gram per cubic…
/in Uncategorized /by JosephIn the ever-evolving landscape of education, students face increasing challenges to meet the demands of their academic pursuits. Striking a balance between extracurricular activities, personal commitments, and a rigorous academic curriculum can be overwhelming. Amidst this struggle, online homework help services have emerged as invaluable resources for students seeking academic excellence. Among these, HomeworkProWriters.com shines as a beacon of light, standing tall as the best website for homework help.
At the core of HomeworkProWriters.com lies a team of exceptional and proficient writers. Each member of this distinguished cadre possesses advanced degrees in their respective fields, empowering them with the knowledge and expertise to tackle assignments from various academic disciplines. From complex mathematical problems to intricate literary analyses, their writers exhibit a remarkable ability to deliver impeccable content that adheres to the highest academic standards. One hallmark of the best homework help website is its comprehensive subject coverage. HomeworkProWriters.com leaves no academic stone unturned, catering to students across diverse subjects and levels of study. Whether it be fundamental sciences, nursing, humanities, social sciences, or technical disciplines, this platform ensures that no student is left without the support they need to excel.
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For Solution Pro..2
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1.Final Project Milestone #5: Stakeholders
Read Stakeholder Management Capability and A Stakeholder Approach to Corporate Social Responsibility. In a post titled 5-2: Stakeholders, answer the following questions:
Provide examples. Remember, you are to report on what the company says about itself, your experience, and the experience of its stakeholders. Cite at least two sources (maybe the articles listed above?).
2. Case Study #2: Partnership for Lebanon and Cisco Systems
The project manager for the Partnership for Lebanon (PFL) and Cisco Systems’ regional director of corporate affairs for the Middle East and Africa met three years after PFL was first initiated.
Their meeting revolved primarily around the challenge of sustainability and what useful suggestions they could put forward to their partners to ensure that the projects initiated through PFL would have a life of their own and not be dependent on the continuous substantive investments of the partners.
This case focuses on how companies can leverage their core competence to maximize value for both business and society and the various social and economic goals this can achieve.
In this case study analysis, you are to address the following, utilizing the headings below in the body of the paper. You must cite all facts from the case study itself. In addition to citing from the case study, you must also cite at least two other resources. Suggested assignment length (not including cover page and reference page): 6–8 pages.
Introduction ï‚· Provide a synopsis of the company and the case.
CSR Lessons ï‚· Analyze the case and discuss the key strategic lessons learned from the PFL concerning the implementation and running of development programs that could be adopted by any senior manager. Cisco, Corporate Sponsors, and PFL ï‚·
Discuss the leadership position that Cisco assumed in the PFL. Analyze the engagement of the PFL corporate partners. How did they benefit from their engagement? What added value do partnerships bring to CSR initiatives, in particular to PFL and in general to any
The Challenge of Sustainability ï‚· Make recommendations to help address the challenge of sustainability in development projects led by CSR initiatives.
Base your suggestions on PFL examples from the case.
Conclusion  Summarize in 2–3 paragraphs the most important elements addressed in this analysis.
References ï‚· Include a separate page of APA-formatted references. At the minimum, the case study should be included, as well as two outside references. There should be no items listed in the references that were not included in the body of the paper as in-text citations.
The second assignment as to be between 6-8 pages.
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Case Problem
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On April 1, 2008, Lynn Garcia began her business, called Lynn’s Music
Studio. All of the daily activities for the month of April—including entering
and paying bills, writing checks, recording of sales (both cash and on account),
collection of receivables, and depositing receipts—have been recorded. It is
the end of the first month of business; the adjusting journal entries need to be
recorded, and financial statements need to be printed. You will record the
adjusting journal entries for April 30 using the information provided below.
The company file includes the beginning information for Lynn’s Music
Studio along with the transactions recorded in chapters 2 and 3.
1. Open the company file CH4 Lynn’s Music Studio.QBW.
2. Make a backup copy of the company file LMS4 [Your Name] Lynn’s
Music Studio.
3. Restore the backup copy of the company file. In both the Open and
Restore To windows, use the file name LMS4 [Your Name] Lynn’s
Music Studio.
4. Change the company name to LMS4 [Your Name] Lynn’s Music
Studio.
5. Add the following accounts to the Chart of Accounts List:
Type: Expense
Number: 6300
Name: Music Supplies Expense
chapter4 4/18/07 3:19 PM Page 4-27
PROGRESS CHECK
4-28 CHAPTER 4
Type: Expense
Number: 6325
Name: Office Supplies Expense
Delete the following account:
Advertising Expense
6. Display and print the Trial Balance Report before preparing the adjusting
journal entries. (April 1, 2008–April 30, 2008)
7. Use the information below to prepare adjusting journal entries. Record
each adjusting journal entry separately, and use April 30, 2008, for the
date.
a. The prepaid insurance represents a 1-year policy. Record insurance
expense for 1 month. Refer to the trial balance to determine the
amount in the Prepaid Insurance account. For the Entry No., use
AJE1.
b. Monthly depreciation on the assets: $60 for the Music Instruments,
$40 for the Furniture, and $35 for the Computers. Record each
depreciation expense as a separate adjusting journal entry.
c. The music supplies on hand total $430. Compare to the amount in
the Music Supplies account to determine how much of the music
supplies has been used, and then record the music supplies expense.
d. The office supplies on hand total $300. Compare to the amount in
the Office Supplies account to determine how much of the office
supplies has been used, and then record the office supplies expense.
e. The interest on the note payable for 1 month is $15. Record the
interest expense. Add to the Chart of Accounts list, the Interest
Payable account, Other Current Liability, number 2030.
8. Display and print the following reports for April 30, 2008:
a. Journal report for only the adjusting journal entries. (April 30,
2008–April 30, 2008)
b. Adjusted Trial Balance. Change the name in the header of the report.
(April 1, 2008–April 30, 2008)
c. Profit & Loss Standard (April 1, 2008–April 30, 2008)
d. Balance Sheet Standard (April 30, 2008)
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Argumentative Paper
/in Uncategorized /by JosephIn the ever-evolving landscape of education, students face increasing challenges to meet the demands of their academic pursuits. Striking a balance between extracurricular activities, personal commitments, and a rigorous academic curriculum can be overwhelming. Amidst this struggle, online homework help services have emerged as invaluable resources for students seeking academic excellence. Among these, HomeworkProWriters.com shines as a beacon of light, standing tall as the best website for homework help.
Bloom Is arguing Huamns are not machines, we are very much alive and able to think for ourselves.
I want to argue with Bloom and agree with him.
In the attached are the five articles that need to be quoted. Each at least once. The main article is “The War on Reason” by Paul Bloom.
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Business Policy & Strategic Solutions
/in Uncategorized /by JosephIn the ever-evolving landscape of education, students face increasing challenges to meet the demands of their academic pursuits. Striking a balance between extracurricular activities, personal commitments, and a rigorous academic curriculum can be overwhelming. Amidst this struggle, online homework help services have emerged as invaluable resources for students seeking academic excellence. Among these, HomeworkProWriters.com shines as a beacon of light, standing tall as the best website for homework help.
Assignment 2: LASA 1
Business Unit Analysis
Directions: Create a Feasibility Study for Harley-Davidson using the following outline:
Part I: Differentiation Strategies
The analysis of current strategy and competitor analysis you conducted last module impressed the senior vice president. She now needs you to delve into the brands and analyze them by conducting a business unit analysis and presenting your findings in a three-part PowerPoint presentation.
Research the Harley-Davidson (H-D) Web site for each brand, and review the annual report for relevant details of the size, scope, target market, services and amenities, and other salient points of differentiation. Include these details in Part I of your PowerPoint presentation.
From the research and analysis of the business units, identify:
Part II: SWOT Analysis
Perform a SWOT analysis for Harley-Davidson and include this information in Part II of your PowerPoint presentation.
Part III: Growth and Profitability Strategies
In addition, the executive board is interested in your ideas about bold strategies for the future. The strategies you recommend will have to contribute to growth and profitability, as outlined in the Annual Report.
You will want to pay special attention to exploring vertical integration, strategic alliances, and the internal growth of new brands entering new geographic markets, and/or additional acquisitions.
Consider the following:
This may include additional diversification to take advantage of opportunities such as further vertical integration.
After you have reviewed the growth and profitability strategies, create a list of possible strategies to present a full range of ideas.
Part III of your presentation should include your complete list—all potential ideas—for the senior vice president. This is your chance to be creative.
Next, rank your ideas from best to worst. To do this, keep in mind several things such as fit with current strategy, resources and capabilities, and difficulty of execution.
For each of your top five ideas, add the following:
Think about such things as:
Your PowerPoint Feasibility Study presentation will also include slides pertaining to the following assessments:
Submit the PowerPoint Feasibility Study presentation to the senior vice president so that she can review the alternatives and provide you with feedback about your ideas.
Submit your presentation to the M3: Assignment 2 Dropbox by Wednesday, November 2, 2016.
Usage and Mechanics (12)
APA Elements (16)
Style (4)
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