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Draw up the relevant Control Accounts entering end-of-year totals for accounts receivable and accounts payable.

Statement of Financial Position as at March 31, 2010

 

                                                                                    $                                              $

March 31, 2010                       March 31, 2009

ASSETS

Non-current assets                                                      4,200                                       3,700

 

Current Assets

Inventory                                                                    1,500                                       1,600

Accounts receivable                                                    2,200                                       1,800

3,700                                       3,400

Total Assets                                                                7,900                                       7,100

EQUITY & LIABILITIES

Share capital                                                                1,200                                       1,200

Retained earnings                                                       2,800                                       1,900

Total Equity                                                                4,000                                       3,100

 

Non-Current liabilities

Long term loan                                                            1,600                                       2,050

 

Current Liabilities

Accounts payable                                                        1,250                                       1,090

Taxation                                                                         895                                          655

Bank overdraft                                                               155                                          205

Total Current liabilities                                               2,300                                       1,950

Total Equity & Liabilities                                         7,900                                       7,100

 

 

 

 

ABC Co.,

Income Statement for the year ended March 31, 2010

 

$                                 $

Revenue                                                                      5,270

Cost of sales                                                                2,000

Gross profit                                                                 3,270

Operating expenses                 1,000

Depreciation                               970

1,970

Operating profit                                                          1,300

Interest expense                                                             250

Profit before tax                                                          1,050

Taxation                                                                         450

Profit for the year                                                          600

 

 

Additional information:

(i)  During the year ended March 31, 2010 the company purchased property plant & equipment Of  $870.

(ii)  No interest was owed at the end of the year.

(iii) Dividend paid for the year ending March 31, 2010 is $300.

You are required to prepare the Statement of Cash Flow for ABC Co., for the year ended March 31, 2010 as per IAS7.

 

 

Question 2

The financial year of The Better Trading Company ended on 30 November 2017. You have been asked to prepare a Total Accounts Receivable Account and a Total Accounts Payable Account in order to produce end-of-year figures for Accounts Receivable and Accounts Payable for the draft final accounts.   (20 marks)

You are able to obtain the following information for the financial year from the books of original entry:

$

Sales                – cash                                                                                                   344,890

– credit                                                                                                 268,187

Purchases        – cash                                                                                                     14,440

– credit                                                                                                 496,600

Total receipts from customers                                                                                     600,570

Total payments to suppliers                                                                                        503,970

Discounts allowed (all to credit customers)                                                                    5,520

Discounts received (all from credit suppliers)                                                    3,510

Refunds given to cash customers                                                                                   5,070

Balance in the sales ledger set off against balance in the purchases ledger                         70

Bad debts written-off                                                                                                        780

Increase in the allowance for doubtful debts                                                                      90

Credit notes issued to credit customers                                                                          4,140

Credit notes received from credit suppliers                                                                    1,480

 

According to the audited financial statements for the previous year accounts receivable and accounts payable as at 1 December 2016 were $26,555 and $43,450 respectively.

 

Required:

Draw up the relevant Control Accounts entering end-of-year totals for accounts receivable and accounts payable.

Differentiate with suitable examples the relevant cash flows and irrelevant cash flows. What relevant role do these cash flows provide in management decision-making? Provide a suitable example in context to an organization to support your answer.

Accounting Question

Assignment Question(s):   (Marks 15)

Q1. Differentiate with suitable examples the relevant cash flows and irrelevant cash flows. What relevant role do these cash flows provide in management decision-making? Provide a suitable example in context to an organization to support your answer.   (3 Marks)

Note: Your answer must include suitable examples of relevant and irrelevant cash flows for management decision-making.   (Week 2, Chapter 1)

 

Q2. What are the various methods of estimating cost functions? Explain each method with suitable numerical examples.   (4 Marks)

Note: You are required to assume values for numerical examples of your own, and they should not be copied from any sources.   (Week 3, Chapter 2)

Q3. ALC ltd. manufactures a product ‘X’ for which the selling price per unit, variables cost per unit, and fixed costs are as follows:   (4 Marks)

Selling price per unit SAR 750
Variable cost per unit SAR 225
Total Fixed Costs SAR 425,000

Answer the following questions using cost volume profit analysis:

  1. Determine the break-even point in units.
  2. Determine the break-even point in sales SAR.
  3. What will be the pretax profit if the company sells 1,400 units of the product?
  4. How many units the company will be required to sell to reach a target pretax profit of SAR 200,000?
  5. The margin of safety in units if the company’s estimated next year budgeted sales are 1,500 units.        (Week 4, Chapter 3)

 

Q4. KCC Ltd. uses a process costing system for its sole processing department. There were 35,000 units in the beginning WIP inventory for June and 325,000 units were started in June. The beginning WIP units were 50% complete and the 30,000 units in the ending WIP were 40% complete. All materials are added at the start of processing.      (4 Marks)

You are required to:

  1. a) Compute the no. of units started & completed.
  2. b) Compute the EUP for DM and CC using FIFO and WA methods.
  3. c) Calculate total manufacturing cost/EUP under both methods with the following details:
  FIFO WA
Direct Material Cost SAR 850,000 SAR 1,000,000
Conversion Cost SAR 1,025,000 SAR 1,350,000

(Week 5, Chapter 6)

Consolidated financial statements present the financial position and results of operations for controlling entity and one or more controlled entities. ‘Consolidated Financial Statement has some advantages but at the same time it is not free from limitations.’ Elaborate this statement.

Accounting Question

  • Assume Large Corporation Invested $ 600,000 for Small Corporation and the estimated Fair Market Values of Assets, Liabilities and Equity Accounts are as follows:
Assets Amount $ Liabilities Amount $
Account Receivable

Inventory

LT Marketable Securities

PP & E

125,000

50,000

55,000

170,000

400,000

 

Account Payables

Retained Earnings

Commons Stock

180,000

120,000

100,000

 

400,000

 

 

Required:    (2+3 Marks)

  1. Determine the Amount of Goodwill or Bargain Purchase.
  2. What is the Journal Entry in the book of Large Corporation?

 

  • From the following Table pass Basic Elimination Entry under Equity Method in the book of Parent Company: (5 Marks)
  Total

Book Value

= Common

Stock

+ Additional

Paid in Capital

+ Retained

Earnings

Beginning Book Value

+ Net Income

–         Dividend

600

 

200

(50)

150 550 (100)

 

200

(50)

Ending

Book Value

750 150 550 50

 

  • Consolidated financial statements present the financial position and results of operations for controlling entity and one or more controlled entities. ‘Consolidated Financial Statement has some advantages but at the same time it is not free from limitations.’ Elaborate this statement. (5 Marks)

 

Describe the disease process for MG. List (2) local community resources available that can provide support such as: Nutrition. Transportation.

MDC 4, Myasthenia Gravis Pamphlet.

Instructions

As a new nurse, you have had clients with Myasthenia Gravis (MG) and are concerned about their level of understanding of the disease process. You have taken on the task of developing a teaching pamphlet to provide clear discharge instructions including information on the disease, support resources, medication teaching, and signs and symptoms of Myasthenic Crisis. You will include the following information in the pamphlet.

  1. Describe the disease process for MG.
  2. List (2) local community resources available that can provide support such as:
  • Nutrition.
  • Transportation.
  1. Psychosocial needs such as support groups.
  2. Include medication administration instructions and the importance of timing of medication delivery.
  3. Include signs of symptoms of Myasthenic Crisis and when to notify health care provider.

You have been asked to present the pros and cons of converting to the IFRS standards, thus allowing your company to move to international markets. Explain how this change will affect the financial statements.

Discussion

Merchandising companies invest large sums of money in inventory, having to account for the purchasing, selling, and costs. Most U.S. based companies or companies on U.S. exchanges have previously had to follow the GAAP standards. As IFRS has moved forward in many countries, these companies have to review if the GAAP or the IFRS standards should be used.

Your company has been following GAAP standards and is looking to expand to international markets. You have been using a LIFO cost of inventory system and have had several inventory items marked down under the lower-of-cost-or-market. You have been asked to present the pros and cons of converting to the IFRS standards, thus allowing your company to move to international markets. Explain how this change will affect the financial statements.

150 words-300.

Create a word count style MapReduce program (CLOUD COMPUTING).

Create a word count style MapReduce program (CLOUD COMPUTING).

In this assignment, you are creating a wordcount style MapReduce program that runs on Cloudera Hortonworks Data Platform (HDP) or AWS Elastic MapReduce (EMR).

  1. Download Elon Musk’s twists from the attachment.
  2. Develop your MapReduce program with default FileInputFormat or your version of CSVInputFormat (10 Bonus points for creating the CSVInputFormat).
  3. You can choose to use either Hadoop MapReduce or Spark framework.
  4. Your program should:
  5. Counting the users that Elon ”@” in this twists
  6. Counting the topic that Elon referred to in his twists (#).
  7. Test the program on your local computer with IntelliJ IDE.
  8. Run the program on HDP or EMR.

Explain what the Internet of Things (IoT) is and provide a brief history, in your own words, of the IoT. Discuss the potential impact that IoT can have on how people live.

ECOM500 – Critical Thinking – M5

Collaborative Technologies and the Internet of Things (IoT)

The Internet of Things (IoT) is becoming increasingly popular in both business and everyday life.

  • Explain what the Internet of Things (IoT) is and provide a brief history, in your own words, of the IoT.
  • Discuss the potential impact that IoT can have on how people live.
  • Select a company and explain how the organization has benefited from the IoT. Detail specific examples of how the company benefited.
  • How has the IoT been impacted by the pandemic? Explain specific examples.

Your well-written report should be 4-5 pages in length, not including the title and reference pages. To make it easier to read and therefore grade, make sure you clearly delineate each section of your answer so it can be matched with the relevant question. Use Saudi Electronic University academic writing standards and APA style guidelines, citing at least two references as appropriate. Review the grading rubric to see how you will be graded for this assignment.

Identify a selection method from the textbook that your organization uses. Compare the approach in the course materials to the process your organization uses. What research-based recommendations can you offer to improve the selection method at work?

Psychology Question

Respond to the following in a minimum of 175 words each. They will be run thru a plagiarism checker. Cite your sources. Thanks.

1. Your boss asks you to develop a training program for employment interviewers. With an emphasis on selection methods that predict job performance, what will be the elements of your program, and how will you tell if it is working?

2. Identify a selection method from the textbook that your organization uses. Compare the approach in the course materials to the process your organization uses. What research-based recommendations can you offer to improve the selection method at work?

3. What are honesty-based and personality-based tests, and how effective are they at predicting employee performance? What are the benefits and risks of using honesty-based and personality-based tests in the workplace?

Provide a reflection of at least 600 words APA format of how the knowledge, skills, or theories of this course have been applied, or could be applied, in a practical manner to your current work environment.

Article Writing Question

Assignment:

Provide a reflection of at least 600 words APA format of how the knowledge, skills, or theories of this course have been applied, or could be applied, in a practical manner to your current work environment. If you are not currently working, share times when you have or could observe these theories and knowledge could be applied to an employment opportunity in your field of study.

Requirements:

  • Provide a 600 word (APA format) minimum reflection.
  • Use of proper APA formatting and citations. If supporting evidence from outside resources is used those must be properly cited.
  • Share a personal connection that identifies specific knowledge and theories from this course.
  • Demonstrate a connection to your current work environment. If you are not employed, demonstrate a connection to your desired work environment.
  • You should NOT, provide an overview of the assignments assigned in the course. The assignment asks that you reflect how the knowledge and skills obtained through meeting course objectives were applied or could be applied in the workplace.

Prepare the required budgets using ONE excel or google (sheets), you MAY want to use multiple tabs in a file as this will likely help your format/presentation score.

Budget Project – 200 Points

WARNING: PROJECT RULES:

Do your OWN work – copying or using the work of others/3rd Party resources (i.e., Chegg, Bartleby, Course Hero) will result in an automatic ZERO without warning or additional opportunities.  Plagiarism software may be employed.

REVIEW THE INTEGRITY POLICIES OUTLINED IN THE SYLLABUS

NO USE OF THIRD PARTY – CITE ANY MATERIAL OR RESOURCES of INFORMATION THAT IS NOT YOUR OWN!


Cayman Kayaks (CK)

Valeria (which translates to “strength”) Ikaika is preparing the 2023 budget for one of CK’s best-selling kayaks. Extensive meetings with members of the sales department and executive management team have resulted in the following quarterly unit sales projections for 2023.

Quarter 1 1,110 kayaks
Quarter 2 2,070 kayaks
Quarter 3 1,250 kayaks
Quarter 4 1,055 kayaks
   

CK’s policy is to have finished goods ending inventory in a quarter equal to 12% of the next quarter’s anticipated sales. Preliminary sales projections for 2024 are 1,250 units for the first quarter and 2,245 units for the second quarter. Ending inventory of finished goods at December 31, 2022, will be 30 kayaks.

Production of each kayak requires 36 pounds of polyethylene powder (used in the molds to create the kayaks) and a single finishing kit (rope, seat, hardware, etc.). Company policy is that the ending inventory of polyethylene powder should be 18% of the amount needed for production in the next quarter. Assume that the ending inventory of polyethylene powder on December 31, 2022, is 13,115 pounds. The finishing kits are outsourced and can be purchased as they are needed to fulfill sales orders. As a result, CK does NOT maintain any significant inventory of the finishing kits.

The polyethylene powder used in these kayaks costs $1.05 per pound, and the finishing kits cost $173 each. Production of a single kayak requires 1.75 hours of labor by more experienced, type 1employees and 3.75 hours of less-experienced type 2 employees. The type 1 employees are paid $28 per hour, and the type B employees are paid $19 per hour.

Selling and administrative expenses for this line are expected to be $35.25 per unit sold plus $6,450 per quarter. Manufacturing overhead is assigned at 154% of labor costs.

 

Instructions:

NOTE: Always review the grading rubric for information on how your project will be scored/evaluated.

 

STEP 1:  Prepare the required budgets using ONE excel or google (sheets), you MAY want to use multiple tabs in a file as this will likely help your format/presentation score.

All calculations MUST be done using embedded formulas in the submitted excel/google spreadsheet, numbers that transfer from one location to another MUST be linked/referenced.

See instructional videos that have been provided if you need help understand formulas, functions and cell referencing.

 

STEP 2:  You may discuss and work with other students but you must complete ALL WORK MUST BE DONE BY YOU AND ON YOUR OWN.  No two projects should ever look alike!!

 

STEP 3: Using the format demonstrated in your textbook – Prepare the following budgets (remember: be sure to show/demonstrate ALL calculations – include quarterly AND yearly totals) using excel or google sheets:

  1. production budget
  2. direct materials budget
  3. direct labor budget
  4. manufacturing overhead budget
  5. selling and administrative budget

 

STEP 4:  Assume you are in a management position and are asked by top executives to propose a sales price for this kayak model that would be competitive, reasonable and profitable based on projections.

You realize that if your proposal is accepted it could mean a huge promotion and/or bonus.  You may use whatever information, research, visualizations or resources you would like to help you determine a sales price and then justify your decision.

It is essential that you effectively support your pricing decision with enough arguments/reasons to convince these executives of your proposal.  Keep in mind, just determining a price that results in a profit would be the MINIMUM expectation – that will not be enough!

 

STEP 5: Once you have your sales price decision, prepare these last two budgets (again, be sure to include quarterly AND yearly totals):

  1. Sales Budget
  2. Budgeted Income Statement