Question 2
Objective: In this Assignment students demonstrate mastery of the materials studied in this course by applying their knowledge to a specific organization and to themselves as an individual. Creativity and innovation are strongly encouraged! Approach: There are two parts to this assignment (1) Application to an Organization and (2) Application to Self. 1) Apply Learning to an Organization. The Student will select an organization (a company, business, community organization, public group). The student will consider what he or she learned in this course and prepares a work that demonstrates both command of the subject matter and application to the specific organization. 2) Self Evaluation. Great leaders take time constantly to evaluate where they are, what is working and what is not. Great leaders self-evaluate to discover what areas they need to work on and what areas are in place. This is your time to take a moment and do some of your own self-evaluation. In this work you will Identify your areas of strength and areas for improvement (we all have them). 3) Deliverables. Each of the deliverables will be uploaded separately. How you deliver this project is up to you. It should reflect some of who you are. You may submit a memo, a paper, a PowerPoint, a video, pod cast, slide show?.the possibilities are endless. (Okay, maybe not endless?but many!) Tips: The best works will ? Offer clear and specific linkage between the situation and what they learned in class. ? Suggest specific opportunities for improvement, again linking back to what was learned in class Previous QIDs for this are: 7430248 7432087 please let me know if you have any questions: APA format is important and please read all the below requirements from my professor 10 Key Attributes of Professional Writing Clear, powerful communication is essential in every profession. This is why the Post University MBA program requires students to communicate and write well. Here are 10 keys attributes of Post University MBA writing. 1. Use simple language In the business world, no one should need an advanced college degree to read your business report or other communication. Potent thoughts are often embodied in simple language. Example: U.S. President Franklin D. Roosevelt changed ?The potential for fearing the future is actually the greatest deterrent to conquering our apprehension about the economy? to ?The only thing we have to fear is fear itself.? 2. Write in specifics, not generalities When you use specific language, you increase the chance the reader will understand. Specific words have a greater impact on people than vague or abstract words. Example: You are less likely to get the action you want when you ask someone to contact you as soon as possible. You are more likely to get action when you ask more specifically: ?Mary, please call me by 4 p.m. today.? 3. Distinguish between fact and opinion Business readers will make decisions based on the information you present. They need a clear way to assess the accuracy and reliability of each statement. This is in contrast to wide, far reaching opinions. Example: On page one of ?Creativity: Flow and The Psychology of Discovery and Invention?, Mihaly Csikszentmihalyi says that creative ideas come from the synergy of many sources and not just from a single person?s mind. I agree. 4. Don?t misplace your modifiers Modifiers are parts of a sentence that describe or ?modify? other parts. If you misplace modifiers you create unintended, incorrect meanings. Example: Do not write, ? To promote creativity within my teams, it is very beneficial?? Do write, ?To promote creativity within my teams, I find it beneficial?? 5. As in business, style counts. Follow APA style. In business, getting the job done isn?t everything. You may need to get the job done using an approved company or organization process, for example. This is true in the Post MBA program, too. Great thoughts and research are not enough. You must follow APA (American Psychological Association) style. Example: Post University, MBA Program, Key Attributes of Professional Writing, 2 APA style requires a 12 point font size in Times New Roman or a similar font. You must double-space all lines. Do not use contractions. Space twice between sentences. 6. Break up long sentences Research shows that if you want 90 percent of people to understand what you write, you must use sentences that average about 14 words. Do write some short sentences. Do write a few longer sentences, too, but break up most overly long (25 words or more) sentences. Example: Can managers encourage change through their behavior, the behavior of others and changes in the work environment? Can managers structure that change to increase creativity and behavior towards organizational goals? Yes, they can. 7. Pour in strong active verbs Verbs are the engines of your sentences. Everything else is cargo. Verbs act. Verbs swing. Verbs cascade. Verbs explode. Verbs energize your writing. Strive for strong action verbs that precisely communicate your meaning. Example: In a case study paper, one Post University MBA student picked a slew of strong verbs: Squash, excite, encourage, create, bolster, pose and seek. 8. Don?t write like Shakespeare William Shakespeare placed the climax of his stage plays in the fourth act. That?s great for plays but horrible for MBA student papers. Put your big ideas up front. In business, people will not dig through your communications to discover the big idea. Example: ABC Company appears to be an organization in conflict with regard to management?s desire to be both creative and productive without providing the resources (mainly time) to be both at the same time. 9. Know that little things are big things No one will notice a stunning, well?crafted, sparkling white dress shirt if it has a small red stain on it. All eyes go to the stain. The same is true of your papers. It is hard for readers to focus on your brilliant ideas when your paper includes simple spelling and grammar errors. Always proofread your work. Example: Don?t write like this student did: ?True, it is funy how this wek I have been more awre of my decisions and how i have com about them.? Instead write: ?True, it is funny how this week I have been more aware of my decisions and how I have come about them.? 10. Submit your best work. Perhaps the biggest writing mistake MBA students make is not devoting enough time to written projects. Build time into your schedule to plan what you write; write a rough draft; and then let that rough draft sit (at least for a few hours). You will be amazed when you go back to your writing because you will see errors you missed. You will see easy ways to improve how you communicate your ideas. There are no good writers. There are only good rewriters. All good writers rewrite their best work. Never submit your first draft! In an online MBA program, writing is the way you earn your grades and prove you know the material. In almost every case, the MBA students who write well, do well. Adopt these 10 attributes of professional writing into everything you do during this course. You will be more pleased with the grades you earn. And the benefits of clear, effective professional writing will help you succeed wherever you go.,Thanks,Make sure you do it correctly, I need this to shine, meaning use proper APA format as described and format the paper to display the professor?s expectations.,There are two parts to this assignment (1) Application to an Organization and (2) Application to Self. 1) Apply Learning to an Organization. The Student will select an organization (a company, business, community organization, public group). The student will consider what he or she learned in this course and prepares a work that demonstrates both command of the subject matter and application to the specific organization. Cover any specific organization and apply the buisness aspect, economical factos, the growth stage, maturaty phase, and all the phases that takes an organizaion to be sucessful,This has to be at least 10 to 13 pages long, this is my final exam,This look like a disgrace, I paid $80 for this. You could have put much more effort into this paper. I have to fix the APA format that is not proper per my teacher?s guidance and add additional information, such as a table of contents. You really need to read the expectations of your clients before you start a doing a paper.,your time is up,you missed the deadline I provided the paper was due at 3pm today, dont even worry acout correcting it, its to late,Will my refund be autorized? also you missed the deadline. I believe I should recieve a full refund.,You missed the deadline of midnight on the 20th; I received the paper on the 21st. I want my refund, I deal is a deal sorry, you should had done the paper on time, You caused me not to have my paper turned in on time due to it being delivered late, also The Format was just simply horrible.
Question 4
The Oxford Company has budgeted sales revenues as follows: Jan Feb Mar Credit sales $240,000 $192,000 $144,000 Cash sales $144,000 $408,000 $312,000 Total sales $384,000 $600,000 $456,000 Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on credit with 60% paid in the month of purchase and 40% in the month following purchase. Budgeted inventory purchases are $520,000 in January, $360,000 in February, and $168,000 in March. Other budgeted cash receipts: (a) sale of plant assets for $98,800 in February, and (b) sale of new common stock for $134,800 in March. Other budgeted cash disbursements: (a) operating expenses of $54,000 each month, (b) selling and administrative expenses of $100,000 each month, (c) dividends of $152,000 will be paid in February, and (d) purchase of equipment for $48,000 cash in March. The company has a cash balance of $80,000 at the beginning of February and wishes to maintain a minimum cash balance of $80,000 at the end of each month. An open line of credit is available at the bank and carries an annual interest rate of 12%. Assume that all borrowing is done on the first day of the month in which financing is needed and that all repayments are made on the last day of the month in which excess cash is available. Also assume that there is no outstanding financing as of February 1. Requirements: Use this information to prepare a Schedule of Expected Cash Collections from Customers for the months of FEBRUARY and MARCH only (need by 10:30 central),Please attempt to answer before 11:00 central as that is my deadline.,oops! I see you wanted the deadline extended to tomorrow - sorry. that wont work I need to finish tonight by 11:00pm.,Thanks! I'm working on it too so your help will hwlp mw know if I'm on the right track!,Cash Receipts Jan Feb Mar Cash Sales 408000 39000 Credit Sales 60% 76800 86400 Credit sales 40% 115200 57600 Sale of assets 98800 Sale of new common stock 134800 Total Receipts 698800 317800 Less Cash Payments Purchases 50% 260000 180000 Purchases 50% 180000 84000 Operating expense 54000 54000 Selling and Admin 100000 100000 Payment of Dividend 152000 Purchase of Equipment 48000 Repayment of line of credit 28560 Total Payments 746000 494560 Surplus of Deficit -47200 -176760 Opening balance 80000 32800 Closing Balance 32800 -143960 Use of line of credit -22800 0 Ugh - maybe I'm close?,running out of time!,Sorry - out of time.
Question 5
1. (TCO A) Which of the following is an advantage of corporations relative to partnerships and sole proprietorships? (Points: 5) Reduced legal liability for investors. Harder to transfer ownership. Lower taxes. Most common form of organization. 2. (TCO A) Buying assets needed to operate a business is an example of a(n) (Points: 5) delivering activity. financing activity. investing activity. operating activity. 3. (TCO A) For 2007 Landford Corporation reported net income of $30,000; net sales $400,000; and average share outstanding 6,000. There were no preferred stock dividends. What was the 2007 earnings per share? (Points: 5) $4.66 $0.20 $66.67 $5.00 4. (TCO C) Free cash flow provides an indication of a company?s ability to (Points: 5) generate cash to invest in new capital expenditures. generate net income. generate cash to pay dividends. both a and c. 5. (TCO C) The dividend account (Points: 5) is increased with a debit. is decreased with a credit. is not an expense account. all of the above 6. (TCO A, B) Kerner Company showed the following balances at the end of its first year: Cash $10,000 Prepaid insurance 1,000 Accounts receivable 5,000 Accounts payable 4,000 Notes payable 6,000 Common stock 2,000 Dividends 1,000 Revenues 30,000 Expenses 25,000 What did Kerner Company show as total credits on its trial balance? (Points: 5) $43,000 $41,000 $42,000 $44,000 7. (TCO B, E) Under the accrual basis of accounting (Points: 5) cash must be received before revenue is recognized. net income is calculated by matching cash outflows against cash inflows. events that change a company's financial statements are recognized in the period they occur rather than in the period in which cash is paid or received. the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles. 8. (TCO A, B) Reese Company purchased office supplies costing $4,000 and debited Office Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $1,600 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be (Points: 5) Debit Office Supplies Expense, $1,600; Credit Office Supplies, $1,600. Debit Office Supplies, $2,400; Credit Office Supplies Expense, $2,400. Debit Office Supplies Expense, $2,400; Credit Office Supplies, $2,400. Debit Office Supplies, $1,600; Credit Office Supplies Expense, $1,600. 9. (TCO E) Baxtor Company purchased merchandise inventory with an invoice price of $5,000 and credit terms of 2/10, n/30. What is the net cost of the goods if Baxtor Company pays within the discount period? (Points: 5) $5,000 $4,920 $4,900 $4,000 10. (TCO B) At the beginning of the year, Midtown Athletic had an inventory of $400,000. During the year, the company purchased goods costing $1,600,000. If Midtown Athletic reported ending inventory of $600,000 and sales of $2,000,000, their cost of goods sold and gross profit rate must be (Points: 5) $1,000,000 and 50% $1,400,000 and 30% $1,000,000 and 30% $1,400,000 and 70% 11. (TCO D) In a period of increasing prices, which inventory flow assumption will result in the lowest amount of income tax expense? (Points: 5) FIFO LIFO Average Cost Method Income tax expense for the period will be the same under all assumptions. 12. (TCO D) An aircraft company would most likely have a (Points: 5) high inventory turnover. low profit margin. high volume. low inventory turnover. 13. (TCO D) A very small company would have the most difficulty in implementing which of the following internal control activities? (Points: 5) Separation of duties Limited access to assets Periodic independent verification by and external auditor. Sound personnel procedures 14. (TCO D) Which of the following is not a suggested procedure to establish internal control over cash disbursements? (Points: 5) Anyone can sign the checks. Different individuals approve and make the payments. Blank checks are stored with limited access. The bank statement is reconciled monthly. 15. (TCO A, B, D) An aging of a company's accounts receivable indicates that $4,000 is estimated to be uncollectible. If Allowance for Doubtful Accounts has a $1,200 debit balance, the adjustment to record bad debts for the period will require a (Points: 5) debit to Bad Debts Expense for $4,000. debit to Allowance for Doubtful Accounts for $5,200. debit to Bad Debts Expense for $5,200. credit to Allowance for Doubtful Accounts for $4,000. . (TCO A, B, D) Using the percentage of receivables method for recording bad debts expense, estimated uncollectible accounts are $10,000 at the end of the year. If the balance of the Allowance for Doubtful Accounts is $2,000 credit before adjustment; what is the amount of bad debt expense for that period? (Points: 5) $10,000 $8,000 $12,000 $2,000 2. (TCO A, E) Brown Clinic purchases land for $120,000 cash. The clinic assumes $1,500 in property taxes due on the land. The title and attorney fees totaled $1,000. The clinic has the land graded for $2,200. What amount does Brown Clinic record as the cost for the land? (Points: 5) $122,200 $120,000 $124,700 $122,500 3. (TCO A, E) Equipment was purchased for $60,000. Freight charges amounted to $2,800 and there was a cost of $8,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $12,000 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be (Points: 5) $14,160. $11,760. $9,840. $9,600. 4. (TCO D) Ron's Pharmacy has collected $600 in sales taxes during March. If sales taxes must be remitted to the state government monthly, what entry will Ron's Pharmacy make to show the March remittance? (Points: 5) Dr Sales Tax Expense 600 Cr Cash 600 Dr Sales Taxes Payable 600 Cr Cash 600 Dr Sales Tax Expense 600 Cr Sales Taxes Payable 600 No entry required. 5. (TCO D) Lopez Corporation issues 500, 10-year, 8%, $1,000 bonds dated January 1, 2007, at 96. The journal entry to record the issuance will show a (Points: 5) debit to Cash of $500,000. credit to Discount on Bonds Payable for $20,000. credit to Bonds Payable for $480,000. debit to Cash for $480,000. 6. (TCO A) If Kiner Company issues 1,000 shares of $5 par value common stock for $70,000, the account (Points: 5) Common Stock will be credited for $5,000. Paid-in Capital in Excess of Par Value will be credited for $5,000. Paid-in Capital in Excess of Par Value will be credited for $70,000. Cash will be debited for $65,000. 7. (TCO A, C) Outstanding stock of the Apex Corporation included 20,000 shares of $5 par common stock and 5,000 shares of 6%, $10 par non-cumulative preferred stock. In 2006, Apex declared and paid dividends of $2,000. In 2007, Apex declared and paid dividends of $6,000. How much of the 2007 dividend was distributed to preferred shareholders? (Points: 5) $4,000 $7,000 $3,000 None of the above 8. (TCO C) Accounts receivable arising from sales to customers amounted to $35,000 and $40,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $120,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is (Points: 5) $120,000. $125,000. $155,000. $115,000. 9. (TCO C) Wilton Company reported net income of $40,000 for the year. During the year, accounts receivable increased by $7,000, accounts payable decreased by $3,000 and depreciation expense of $5,000 was recorded. Net cash provided by operating activities for the year is (Points: 5) $30,000. $45,000. $39,000. $35,000 10. (TCO F) One variation of the horizontal analysis is known as (Points: 5) nonlinear analysis. vertical analysis. trend analysis. common size analysis. 11. (TCO F) Vertical analysis is also known as (Points: 5) perpendicular analysis. common size analysis. trend analysis. straight-line analysis. 12. (TCO F) The best way to study the relationships among the components within a financial statement is to prepare (Points: 5) a vertical analysis. a trend analysis. profitability analysis. comparative analysis. 13. (TCO F) In vertical analysis, the base amount for studying salary & wages expense is generally (Points: 5) net sales. salary & wages expense in a previous year. gross profit. net income. 14. (TCO F) A common measure of profitability is the (Points: 5) current ratio. current cash debt coverage ratio. return on common stockholders? equity ratio. debt to total assets. 15. (TCO F) Long-term creditors are usually most interested in evaluating (Points: 5) liquidity. marketability. profitability. solvency. . (TCO A) The partial financial statement items below were taken from the financial statements of Prone, Inc. This information can be used to correctly solve each of the ratios below. The information is in alphabetical order. Accounts payable $ 28,000 Net income $ 48,000 Accounts receivable 66,000 Other current liabilities 17,000 Cash 54,000 Total assets 250,000 Gross profit 160,000 Total liabilities 200,000 Income before income taxes 54,000 Wages payable 5,000 Additional information: The number of average common shares outstanding during the year was 40,000. Instructions: Compute the following: (a) Current ratio. (b) Working capital. (c) Earnings per share. (d) Debts to total assets ratio. To earn full credit, you must show the formula you are using, show your computations and explain the meaning of each of your ratio results. (Points: 25) 2. (TCO B & E) These financial statement items are for Snyder Corporation at year-end, July 31, 2010. Salaries payable $ 2,580 Salaries expense 48,700 Utilities expense 22,600 Equipment 21,000 Accounts payable 4,100 Commission revenue 61,100 Rent revenue 8,500 Long-term note payable 1,800 Common stock 16,000 Cash 24,200 Accounts receivable 9,780 Accumulated depreciation 6,000 Dividends 5,000 Depreciation expense 4,000 Retained earnings (beginning of the year) 35,200 Instructions: Prepare an income statement and a retained earnings statement for the year. (Points: 25) 3. (TCO C) Using the indirect method, calculate the amount of cash flows from operating activities using the indirect method from the following data: Net income $230,000 Beginning accounts receivable 22,000 Ending accounts receivable 26,000 Beginning prepaid expenses 5,000 Ending prepaid expenses 2,000 Beginning accounts payable 15,000 Ending accounts payable 14,000 Depreciation expense 55,000 Amortization of intangible asset 3,000 Dividends declared and paid 11,000 (Points: 25) 4. (TCO D) Your friend, Jeff, has opened a movie theater. Jeff states that he does not have time to develop and implement a system of internal controls. a. Provide Jeff with the objectives of a system of internal control. b. Explain to Jeff why he should develop a system of internal control. (Points: 25)
