Question 1
Final Paper The final paper will be based on Appendix 6C Illustrative Audit Case: Keystone Computers at pages 233-240 in your text. Write, in outline format but in complete sentences, a 6 to 10 page audit plan. It is recommended that you look at Figure 18.8 on page 703, which shows the control objectives related to accounts receivable. In your audit plan cover the steps necessary to determine if you should select the client, the internal control procedures which need to be reviewed, the substantive tests [using accounts receivable a guide], and the final reporting steps. Based on the actual facts in the case determine the emphasis you want to place on various accounts. Also reflect back over your entire accounting program and think about how the accounts are interrelated. For example, when allowance for doubtful accounts is credited the offset is to bad debt expense. Therefore one of the steps should be to trace the debit side of the entry to the balance for bad debt expense. Make you comments as specific as possible. Rather than say look for unusual entries, say look for entries from unusual sources and rounded amounts with focus on those near an accounting cut off. Use precise language. Rather than saying you ?vouched accounts payable,? say that you looked at the item to determine that it was a bona fide business expense. Remember to focus on the key audit objectives and support needed after applying the audit risk model. Remember, the purpose of the Final Paper is for you to culminate the learning achieved in the course by describing your understanding and application of knowledge in the field of accounting. The Final Paper should focus on real life, real time application of topics covered in this course; the uses you have seen and the uses you can envision. The paper must be submitted to your instructor no later than the last day of class. Earlier submittal is appreciated. Writing the Research Paper The Final Paper: * Must be six- to ten- double-spaced pages in length and formatted according to APA style as outlined in the approved APA style guide. * Must include a cover page that includes: o Student?s name o Course name and number o Title of paper o Instructor?s name o Date submitted * Must include an introductory paragraph with a succinct thesis statement. * Must address the topic of the paper with critical thought. * Must conclude with a restatement of the thesis and a conclusion paragraph. * Must use at least three professional resources, including a minimum of one from ProQuest. * Must use APA style as outlined in the approved APA style guide to document all sources. * Must include, on the final page, a Reference Page that is completed according to APA style as outlined in the approved APA style guide.
Question 2
A partially completed pension spreadsheet showing the relationships among the elements that comprise the defined benefit pension plan of Universal Products is given below. The actuary?s discount rate is 5%. At the end of 2005, the pension formula was amended, creating a prior service cost of $120,000. The expected rate of return on assets was 8%, and the average remaining service life of the active employee group is 20 years in the current year as well as the previous two years. Required: Copy the incomplete spreadsheet and fill in the missing amounts. Informal Records Formal Records ( )s indicate credits; Prior Net Prepaid debits otherwise Plan Service Loss? Pension (Liability) ($ in 000s) PBO Assets Cost Pensions Expense Cash / Asset Balance, Jan. 1, 2007 (800) 600 114 80 (200) Service cost 84 Interest cost, 5% (40) Expected return on assets (48) Adjust for: Loss on assets 6 Amortization: Prior service cost Amortization: Net loss E 17?13 Pension spreadsheet LO8 E 17?12 Determining the amortization of net loss or net gain LO6 E 17?11 PBO calculations; ABO calculations; present value concepts LO1 LO2 LO3 870 SECTION 3 Financial Instruments and Liabilities Gain on PBO 12 Prior service cost 0 Cash funding (68) Retiree benefits Balance, Dec. 31, 2007 (862) 108,Please do it looking at the attachment. It is much simpler. You have to fill out the Pension Worksheet. Thank You.,Ok. Thank You!!! :),I was just wondering when exactly you will be done? I don't mean to rush you.
Question 3
"Comprehensive Problem. Heintz and Parry. College Accounting 19th Edition. PERIOD 1 The Account Cycle Bob night opened "The general's favorite Fishing Hole" The fishing camp is open from April through September and attracts many famous college basketball coaches during the off-season. Guests typically register for one week, arriving on Sunday afternoon and returning home the following Saturday afternoon. The registration fee includes room and board, the use of fishing boats, and professional instruction in fishing techniques. The chart of accounts for the camping operations is provided below. The General's Favorite Fishing Hole Chart of Account. Assets Revenues 101 cash 401 Registration fees 142 Office Supplies 144 Food Supplies Expenses 145 Prepaid Insurance 511 Wages Expense 181 Fishing Boat 521 Rent Expense 181.1 Accum. Depr-Fishing Boats 523 Office Supplice Expense 524 Food Supplice Expense Liabilities 525 Telephone Expense 202 Account Payable 533 utilities Expense 219 Wages Payable 535 Insurance Expense 536 pastage Expense Owner's Equuity 542 Depr. Exp-Fishing Boats 311 Bob Night Payable 312 Bob Night Drawing 313 Income Summary The following transactions took place during April 20-- April 1 Night invested cash in the business $90,000. 1 Paid insurance premium for camping season, 9,000. 2 Paid rent for lodge and campgrounds for the month of April, $40,000. 2 Deposited registration fee, $35,000 2 Purchase ten fishing boats on account for $60,000. The boats have estimated useful lives of five years, at which time they will be donated to a local day camp. Arrangement were made to pay for the boats in July. 3 Purchase food supplies from Acme Super Market on account, $7,000. 5 Purchase office supplies from Gordon Office Supplies on account, $500. 7 Deposited registration fee, $38,600. 10 Purchased food supplies from Acme Super Market on account, $8,200 10 Paid wages to fishing guides, $10,000 14 Deposited registration fees, $30,500 16 Purchased food supplies from Acme Super Market on account, $9,000 17 Paid wages to fishing guides, $10,000 18 Paid postage , $150. 21 Deposited registration fees, $35,600 24 Purchased food supplies from Acme Super Market on account, $8,500 24 Paid wages to fishing guides, $10,000 28 Deposited registration fees, $32,000. 29 Paid wages to fishing guides, $10,000 30 Purchased food supplies from Acme Super Market on account, $6,000. 30 Paid Acme Super market on account ,$32,700. 30 Paid utilities bill, $2,000. 30 Paid telephone bill, $1,200. 30 Bob Night withdrew cash for personal use, $6,000 Adjustment information for the end of April is provided below. a Office supplies remaining on hand, $100. b Food supplies remaining on hand, $8,000. c Insurance expired during the month of April, $1,500. d Depreciation on the fishing boatsfor the month of April, $1,000. e Wages earned , but not yet paid, at the end of April, $500. Required: 1 Enter the above transactions in a general journal. Enter transactions from April 1-5 on pages 1, April 7-8 on page 2, April 21-29 and the first two entries for April 30 on page 3, and the remain entries for April 30 on page 4. 2 Post the entries to the general ledger.(if you are not using the working papers that accompany this text, you will need to enter the account titles and account numbers in the general leger accounts). 3 Prepare a trial balance on a work sheet. 4 Complete the work sheet. 5 Prepare the income statement. 6 Prepare the statement of owner's equity 7 Prepare the balance sheet. 8 Journalise the adjusting entries (page 5) 9 Post the adjusting entries to the general ledger. 10 Journalise the closing entries (page 5 and 6) 11 Post the closing entries to the general ledger. 12 Prepare a post-closing trial balance. Comprehensive Problem. Heintz and Parry. College Accounting 19th Edition",I am not satisfied with your answer. Some of your figures are wrong. For example. Bob Night drawing is 6000 not 7500. SO there is a miscalculation for my drawing. Another example is Adjusting entries for Food Supplies is 8,000 not 30700. I will not use your answer.
Question 4
ACT 410 Project Given the following account information for Leong Corporation at December 31, 2012. All accounts have normal balances. Equipment Interest Expense Interest Payable Retained Earnings,1/1/2012 Dividends Land Patent Marketable securities Spare parts Inventory Bonds Payable Notes Payable (due in 6 months) Share capital–ordinary Accumulated Depreciation - Eq. Prepaid Advertising Sales Revenue Maintenance revenues Rent revenues Beginning inventory Buildings Supplies Purchases returns Sales returns Taxes Payable Accumulated dep. of equipment under capital lease Transportation - out expense Utilities Expense Advertising Expense Salary Expense (70% sales and 30% offices) Salaries Payable Accumulated Dep. - Buildings. Cash Depreciation Expense: Building& Equipment Losses due to an earthquake damage Purchases Lands kept for sale in the future Goodwill Restricted cash Loss of (X) division from operations (pre-tax) Gain on disposition of (X) division’s assets (pre-tax) Dividends revenues Franchise Spare used during the period Purchase discount Sales discount Sales allowance Sales commission Transportation - in expense Patent amortization expense Goodwill impairment expense Available for sale securities Investment in bonds Share capital (300,000 ordinary shares, par 1KD) Share capital(5,000 preference shares , 8%, 10KD par) Share premium – ordinary Share premium – preference Treasury shares (at cost) Accumulated other comprehensive income components Supplies expense Account payable of capital lease Equipment under capital lease Account receivable (due in two years) Research cost Development cost (verifiable) 40,000 2,400 600 ? 50,400 137,320 120,000 42,000 32,000 78,000 14,400 60,000 10,000 5,000 831,400 125,600 34,000 82,000 80,400 8,860 12,000 22,000 3,000 4,000 4,850 5,320 3,560 153,040 3,900 15,000 30,000 14,000 55,000 458,000 20,000 85,000 15,000 35,000 80,000 10,000 65,000 12,000 14,000 28,000 10,000 18,480 11,520 4,000 5,000 42,000 50,000 300,000 50,000 30,000 10,000 20,000 18,500 2,420 22,800 31,000 12,000 44,500 72,000 Additional information: - Ending inventory was evaluated at 102,000 KD at cost using FIFO method and at 97,500 KD at NRV. - All items are subject to 25% income tax. Required: Step (1) : Prepare Trial Balance for year 2012 Step (2): Prepare income statement at December 2012 for the company Step (3): Prepare a classified statement of financial position at December 2012.
Question 5
Dear Tutor, Can you please provide detail explanation answers for the questions below? If outside resource is used please provide proper citation. 1. How does the organization employ the Internet and other recent (and emerging) technologies in its product or service offerings/development and marketing efforts? 2. What advantages/threats does the new economy pose for the organization? 3. What strategic imperatives underlie success (i.e. Google) as compared to decline (i.e. Yahoo) within an industry or product category of your choice/?? 4. Why has Best Buy (brick-and-click model) been under such pressure from Amazon (click model)? How is Best Buy planning to combat the dynamics of it's changing industry structure and competitive position therein?? 5. Using your crystal ball and looking out 5 years, you are CEO of a venture capital firm with the opportunity to acquire ONE (and only one) of the companies you cite (Expedia, Priceline, Google, Yahoo, Amazon and eBay). Which of these companies would you target? More importantly - why would you target said company (paying special attention to the relative long-term strength of each respective business model)? 6. Given that Yahoo has recently handed over the reigns to a new CEO (Marissa Mayer) in an effort to reorient the business and brand, what strategic decisions might you recommend to Mayer on behalf of Yahoo stakeholders?? Why?? 7. Explain the concept of disintermediation for the rest of your peers and provide example(s) of a brand/business model that stands to benefit from disintermediation as well as a brand/business model that may well perish as a result of disintermediation?
