Acc 300 Week 5 Individual Assignment Chapter Six

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In this file ACC 300 Week 5 Individual Assignment - Chapter Six you will find overview of the following parts: 1. Assignments from the Readings. Prepare responses to the following assignments from the e-text, Fundamentals of Financial Accounting 1st ed., by Phillips, Libby, and Libby a. Chapter 6: Questions 2 and 3 2. Summarize the primary purposes of an internal control system. 3. What are the three internal control objectives for financial reporting?

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Business - Accounting QRB 501 Week 2 Learning Team Case Studies - "Case 5 - 2 and Case 6 -2" Week 2 Learning Team Case Studies Complete the following case studies from Ch. 5 6 of Business Math: Case Study 5-2, pp. 184-185 Case Study 6-2, pp. 216-217 Use the provided Microsoft Excel template for your answers. Note . Show all work and calculations. (The use of Microsoft Excel software is required.) 1. Ziam wants to know how much his royalty will be for a song he has written. How will it be calculated? Write the steps or the formulas that will be used to calculate his royalty payment. 2. Ziam has written a popular song titled “Going There,” which has been recorded by a well-known performer. He recently received a royalty check for $7,000. If Ziam gets a 0.5 share of the royalties and the credit value is $3.50, what was the credit total that his song earned? Write out the problem in the form of an equation and solve it. 3. Ziam quickly published another song, “Take Me There,” that is played even more often than “Going There.” If his first song earns 4,000 credits and his second song earns 6,000 credits, what will the royalty payment be from the two songs if the credit value remains at $3.50? 4. Ziam is considering an offer to perform his own songs on a CD to be titled “Waiting There.” In the past, he has written but not performed his music. If Ziam’s royalty is 0.12 of the suggested retail price of $15.00, but 0.25 of the retail price is deducted for packaging before Ziam’s royalty is calculated, how much will he receive for sale of the CD? Write your answer in the form of an equation and solve it. 1. What percentage of the total does each of the four customer groups represent? Round to the nearest hundredth of a percent. 2. Minh’s data shows that on average only 4.6% of customers were purchasing complementary services available within Media Systems. By using his company’s services, Minh was projecting that these percentages would triple across all user groups within 1 year. a) How many customers would that equate to in total for each group? b) What would be the difference compared to current levels? 3. Customer complaint data showed that within the last year, complaints by category were as follows: publication subscribers, 1,174; advertisers, 423; telephone service customers, 4,411; and ISP customers 823. a) What percentage of customers (round to two decimal places)complained within the last year in each category? b) If the CRM software were able to reduce complaints by 50% each year over the next 2 years, how many complaints would there be by category at the end of that time period? And c) What would the number of complaints at the end of 2 years represent on a percentage basis? QRB 501 Week 3 Learning Team Case Studies / "Case 8 - 3 and case 9 - 1" Complete the following case studies from Ch. 8 9 of Business Math: Case Study 8-3, p. 300 Case Study 9-1, p. 344 Use the provided Microsoft Excel template for your answers. Note . Show all work and calculations. (The use of Microsoft Excel software is required.) ........................................................ Case 8-3 Template 1. The Artist’s Palette purchases its inventory from a number of suppliers and each supplier offers different purchasing discounts. The manager of The Artist’s Palette, Marty Parma, is currently comparing two offers for purchasing modeling clay and supplies. The first company offers a chain discount of 20/10/5, and the second company offers a chain discount of 18/12/7 as long as the total purchases are $300 or more. Assuming Parma purchases $300 worth of supplies, a) what is the net price from supplier 1? And b) From supplier 2? And c) From which supplier would you recommend Parma purchase her modeling clay and supplies? 2. What is the net decimal equivalent for supplier 1? For supplier 2? 3. What is the trade discount from supplier 1? From supplier 2? 4. The Artist’s Palette recognizes that students may purchase supplies at the beginning of the term to cover all of their art class needs. Because this could represent a fairly substantial outlay, the Artist’s Palette offers discounts to those students who pay sooner than required. Assume that if students buy more than $250 of art supplies in one visit, they may put it on a student account with terms of 2/10, n/30. If a student purchases $250 of supplies on September 16, what amount is due by September 26? How much would the student save by paying early? 5. Assume that if students buy more than $250 of art supplies in one visit, they may put the charge on a student account with terms of 2/10 EOM. If a student makes the purchase on September 16, on what day does the 2% discount expire? If the purchase is made on September 26, on what day does the 2% discount expire? If you were an art student, which method would you prefer: 2/10, n/30, or 2/10 EOM? Case 9-1 Template 1. What is the markup percentage for a box of ginger tea? 2. If the rice-filled heating pads sell for $7.00, $10.00, and $15.00 for small, medium, and large, respectively, what is the markup percentage on each one? 3. Karen wants to compare using the cost plus method to the percentage markup method. If she sells 2 small rice pads, 4 medium rice pads, 2 large rice pads, and 20 boxes of $3.50 tea in a month, how much profit does she accumulate? What markup percentage based on cost would she have to use to make the same amount of profit on this month’s sales? 4. What prices should Karen charge (using the markup percentage) to obtain the same amount of profit as she did with the cost plus method? Do not include shipping. Week 4 Standard Deviation Abstract The Learning Team assignment this week is a simple but helpful assignment. The assignment will consist of a cover sheet, abstract pages, and a reference page. Research , as a Learning Team, 1 peer-reviewed article per team member on the topic, "standard deviation use in the business world" in the University Library. Each Learning Team member must choose a different article. Write a basic abstract for each of your selected articles. Your abstracts must include the following: The purpose of the study The research question(s) The hypothesis of the study The main findings of the study Include APA-formatted references on the reference page. Week 5 Learning Team Case Studies Complete the following case studies from Ch. 21 of Business Math: Case Study 21-1, p. 768 Case Study 21-2, p. 769 Create your own Microst Excel worksheet and format it to answer your questions. Note. Show all work and calculations. (The use of Microsoft® Excel® software is required.) ....................................................................................... 21.1 Contemporary Wood Furniture Case Study 21-1, p. 768 Charles Royston was checking the year-end balances for his wood furniture manufacturing and retail business and was concerned about the numbers. From what he remembered, his debts and accounts receivable were higher than the previous year. Rather than get worked up over nothing, he decided he would gather the information and make a comparison. For December 31, 2011 , the business had current assets of: $1,844 cash, $11,807 accounts receivable, and $9,628 inventory. Plant and equipment totaled $158,700. Current liabilities were: accounts payable $13,446; wages payable $650; and property and taxes payable $4,124. Long-term debt totaled $92,800 and owner’s equity $70,959. By comparison, for December 31, 2010 , the business had current assets of: $3,278 cash; $6,954 accounts receivable; $17,417 inventory. Plant and equipment totaled $144,500. Current liabilities were: accounts payable $9,250; wages payable $1,110; property and taxes payable $3,650. Long-term debt totaled $75,800; and owner’s equity $82,339. 1. Construct a comparative balance sheet for Contemporary Wood Furniture for year-end 2010 and 2011, including a vertical and horizontal analysis of the comparative balance sheet. Express percents to the nearest tenth of a percent. 2. Calculate the current ratio and the total debt to total assets ratio for 2010 and 2011. 3. Overall, what does your analysis mean? Is Charles correct to be concerned about these numbers? Explain. Your company is thinking about acquiring another corporation. You have two choices—the cost of each choice is $250,000. You cannot spend more than that, so acquiring both corporations is not an option. The following are your critical data: Corporation A Revenues = $100,000 in year one, increasing by 10% each year Expenses = $20,000 in year one, increasing by 15% each year Depreciation expense = $5,000 each year Tax % Discount % Corporation B Revenues = $150,000 in year one, increasing by 8% each year Expenses = $60,000 in year one, increasing by 10% each year Depreciation expense = $10,000 each year Tax % Discount % Compute and analyze items (a) through (d) using a Microsoft® Excel® spreadsheet. Make sure all calculations can be seen in the background of the applicable spreadsheet cells. In other words, leave an audit trail so others can see how you arrived at your calculations and analysis. Items (a) through (d) should be submitted in Microsoft® Excel®; indicate your recommendation (e) in the Microsoft® Excel® spreadsheet; the paper stated in item (f) should be submitted consistent with APA guidelines. a. A 5-year projected income statement b. A 5-year projected cash flow c. Net present value (NPV) d. Internal rate of return (IRR) e. Based on items (a) through (d), which company would you recommend acquiring? f. Write a paper of no more 1,050 words that defines, analyzes, and interprets the answers to items (c) and (d). Present the rationale behind each item and why it supports your decision stated in item (e). Also, attempt to describe the relationship between NPV and IRR. ( Hint. The key factor is the discount rate used.) In addition to the paper, a Micosoft® Excel® spreadsheet showing your projections and calculations must be shown and attached.

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