Question 1
Tugan?s Turf Farm owned the following items of property, plant and equipment as at 30 June 2012: Instructions Round your answers to the nearest whole number. Land (at cost) $180,000 Office building (at cost) 225,000 Accumulated depreciation (35,063 ) 189,937 Turf cutter (at cost) 98,000 Accumulated depreciation (63,551 ) 34,449 Water desalinator (at fair value) 283,000 Additional information (at 30 June 2012) (a) The straight-line method of depreciation is used for all depreciable items of property, plant and equipment. Depreciation is charged to the nearest month and all figures are rounded to the nearest dollar. (b) The office building was constructed on 1 April 2008. Its estimated useful life is 20 years and it has an estimated residual value of $60,000. (c) The turf cutter was purchased on 21 January 2009, at which date it had an estimated useful life of 5 years and an estimated residual value of $4,800. (d) The water desalinator was purchased and installed on 2 July 2011 at a cost of $200 000. On 30 June 2012, the plant was revalued upwards by $10,500 to its fair value on that day. Additionally, its useful life and residual value were re-estimated to 9 years and $27,000 respectively. The following transactions occurred during the year ended 30 June 2013: (Note: All payments are made in cash.) (e) On 10 August 2012, new irrigation equipment was purchased from Pond Supplies for $55,500. On 16 August 2012, the business paid $750 to have the equipment delivered to the turf farm. Bob Digger was contracted to install and test the new system. In the course of installation, pipes worth $1,200 were damaged and subsequently replaced on 3 September. The irrigation system was fully operational by 19 September and Bob Digger was paid $14,400 for his services. The system has an estimated useful life of 4 years and a residual value of $0. (f) On 1 December 2012, the turf cutter was traded in on a new model worth $120,000. A trade-in allowance of $28,500 was received and the balance paid in cash. The new machine?s useful life and residual value were estimated at 6 years and $7,500 respectively. (g) On 1 January 2013, the turf farm?s owner Terry Clifford decided to extend the office building by adding three new offices and a meeting room. The extension work started on 2 February and was completed by 28 March at a cost of $73,500. The extension is expected to increase the useful life of the building by 4 years and increase its residual value by $7,500. (h) On 30 June 2013, depreciation expense for the year was recorded. The fair value of the water desalination plant was $247,500. Required Prepare general journal entries to record the transactions and events for the reporting period ended 30 June 2013 (narrations are not required).
Question 2
Hello. Below you'll see the instructions and format for this organization audit assignment . Also attached is the PDF of topics that are required to be covered. The audit can be for any organization. The paper needs to be 13 pages not including table of contents and sources. Please let me know if you have any questions. PRE-WORKSHOP ASSIGNMENT- ORGANIZATION AUDIT Positive Organization Reporting and Analysis You begin by printing out the ?audit guidelines? either attached in the email of within the HSPortal. If you are logging onto the Portal , click on the link called ?Guidelines for Conducting an Audit? and print a copy of the document. This is used to help you evaluate the degree to which your organization is utilizing its resources in an effective and efficient manner to accomplish objectives. It provides an opportunity for critical analysis of techniques, procedures, practices and policies based upon value integration and leadership in all parts of the organization. Read through the ?Guidelines?. Go through the ?Guidelines? a second time and answer each question yes or no, thinking critically about the positive or negative impact that organization action, (or lack of action) is having on organization success. It is important to emphasize positive spirals (taking something positive and making it bigger and better). This would be an answer to the question ?how do we take a best practice in our organization and expand it?? Use the analysis and critical thinking as a basis for writing an organization audit report. This is a 13- page (minimum) typed, double spaced report that will be completed prior to the capstone. The required format for the audit report would be as follows: I. Table of Contents II. Introduction (organization, type of industry, opening statement). III. General Statement of Results (overall statement/impression of the audit results). IV. Analysis (each of the eight sections in the audit should be assessed in terms of positive or negative impact, especially positive consequences). V. Recommendations (what specific actions should be taken to enhance the level of organizational success) beyond the current state. Be specific. Discuss how to expand strengths. Focus on how to expand positive processes & phenomena that may exist in one part of the organization to the rest of the organization. VI. Value Facet Analysis (analyze your top recommendation using the eight facets relative to short term and long term effects and determine whether or not the effects make your top recommendation significant enough to operationalize).*The value facets - drivers are those found in Dr. Pohlman?s article or in the book Value Driven Management, not in the audit pamphlet. For both 5102 and 5104 students this article should be obtained on the HSPortal, under the heading of workshops you will see a link entitled Online Course Readings. Dr. Pohlman?s article is called ?Values Driven Management Paper?. The other papers and articles are additional resources and should be read prior to coming to the capstone. VII. Conclusion (summary).
Question 3
1. Bond Prices - Staind, Inc., has 7.5 percent coupon bonds on the market that have 10 years left to maturity. The bonds make annual payments. If the YTM on these bonds is 8.75 percent, what is the current bond price? 2. Bond Yields - Ackerman Co. has 9 percent coupon bonds on the market with nine years left to maturity. The bonds make annual payments. If the bond currently sells for $934, what is its YTM? 3. Bond Prices - Grohl Co. issued 11-year bonds a year ago at a coupon rate of 6.9 percent. The bonds make semiannual payments. If the YTM on these bonds is 7.4 percent, what is the current bond price? 4. Interest Rate Risk - Both Bond Sam and Bond Dave have 9 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has 3 years to maturity, whereas Bond Dave has 20 years to maturity. If interest rates suddenly rise by 2 percent, what is the percentage change in the price of Bond Sam? Of Bond Dave? If rates were to suddenly fall by 2 percent instead, what would the percentage change in the price of Bond Sam be then? Of Bond Dave? Illustrate answers by graphing bond prices versus YTM. What does this problem tell you about the interest rate risk of longer-term bonds?,I cannot see the attachment.
Question 4
Transfer Pricing MuniCorp is a decentralized company that rewards division managers based on ROI. The City Division produces a component that is used by the County Division. City?s unit cost of manufacturing 5,000 components (capacity) is: Variable costs $13 Fixed overhead $10 Total costs $23 City can sell 4,000 units on the open market for $30 by incurring selling costs of $2 per unit. An outside supplier has offered County 5,000 units of this same component for $29. Orders of less than 5,000 units would cost the County Division $31 each. County needs the 5,000 components to make finished goods, which provide a total contribution of $245,000 excluding the cost of the component. The County Division?s manager has approached the City Division manager with an offer to purchase the entire 5,000 units from the City Division for a total cost of $130,000 ($26 per unit). If this internal transaction is completed, the City Division would not incur the $2 unit selling costs. Is the City Division better off by accepting the offer to sell 5,000 units internally for $26 each? How much is the corporation as a whole better or worse off if the transaction is completed internally as opposed to each division dealing externally? Justify your answer. What is the highest price the County Division would consider paying the City Division for the component? How does the analysis change if City can sell 5,000 units on the open market for $30 with the $2 selling cost?
Question 5
Journalize the selected transactions by the Gampfer Company During its fiscal year ending Dec 31 were as follows January 2: Issued a check to establish a petty cash fund of $3,200. March 14: Replenished the petty cash fund, based on the following summary of petty cash receipts: office supplies, $1200; miscellaneous selling expense, $410; miscellaneous administrative expense, $620. April 21: Purchased $22,400 of merchandise on account, terms 1/10, n/30. The perpetual inventory system is used to account for inventory. May 20: Paid the invoice of April 21 after the discount period had passed. May 23: Received cash from daily cash sales for $15,120. The amount indicated by the cash register was $9,545. June 15: Received a 60-day, 10% note for $127,500 on the Cady?s account August 14: Received amount owed on June 15 note, plus interest at the maturity date. August 18: Received $5,400 on the Yoder account and wrote off the remainder owed on a $6,400 accounts receivable balance. (The allowance method is used in accounting for uncollectible receivables Sept 9: Reinstated the Yoder account written off on August 18 and received $960 cash in full payment. September 15: Purchased land by issuing a $480,000, 90-day note to Ace Development Co., which discounted it at 8%. October 17: Sold office equipment in exchange for $96,000 cash plus receipt of a $64,000 90-day, 6% note. The equipment had cost $224,000 and had accumulated depreciation of $44,800 as of October 17 Nov 30. Journalized the payroll for November, based on the following data Salaries Deductions Sales salaries $96,640 Income tax $28,00 Office Salaries $55,200 Social Security 9,110 Medicare $2,278 151,840 Unemployment tax rates: State unemployment 4.0% Federal Unemployment 0.8% Amount subject to unemployment tax: State unemployment $5,000 Federal Unemployment $5,000 30. Journalize the employer payroll taxes on payroll Dec14 Journalize the payment of Sept 15 note at maturity Dec 31 the pension cost the year $136,00 of which $99,840 was paid to the pension plan trustee.
