Monday, May 3, 2010

ACC 280 / XACC 280 : E1-12 Determine the missing amount

ACC 280 / XACC 280

Axia College of University of Phoenix (UoP)

Principles of Accounting

Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2008). Financial Accounting (6th ed.). Hoboken, NJ: Wiley.

ACC 280 / XACC 280 Solution
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Exercise 1-12 (E1-12) Determine the missing amount:
The following information relates to Linda Stanley Co. for the year 2008. Retained earnings, January 1, 2008 $ 48,000 Advertising expense $ 1,800 Dividends during 2008 6,000 Rent expense 10,400 Service revenue 62,500 Utilities expense 3,100 Salaries expense 30,000

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ACC 280 / XACC 280 : E1-5 Meredith Cleaners has the following

ACC 280 / XACC 280

Axia College of University of Phoenix (UoP)

Principles of Accounting

Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2008). Financial Accounting (6th ed.). Hoboken, NJ: Wiley.

ACC 280 / XACC 280 Solution
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Exercise 1-5 (E1-5) Meredith Cleaners has the following balance sheet items.
Accounts payable Accounts receivable
Cash
Notes payable
Cleaning equipment
Salaries payable
Cleaning supplies
Common stock

Instructions
Classify each item as an asset, liability, or stockholders’ equity.

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ACC 280 / XACC 280 : E1-4 The following situations involve accounting principles

ACC 280 / XACC 280

Axia College of University of Phoenix (UoP)

Principles of Accounting

Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2008). Financial Accounting (6th ed.). Hoboken, NJ: Wiley.

ACC 280 / XACC 280 Solution
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Exercise 1-4 (E1-4) The following situations involve accounting principles and assumptions.
1. Grossman Company owns buildings that are worth substantially more than they originally cost. In an effort to provide more relevant information, Grossman reports the buildings at market value in its accounting reports.
2. Jones Company includes in its accounting records only transaction data that can be expressed in terms of money.
3. Caleb Borke, president of Caleb’s Cantina, records his personal living costs as expenses of the Cantina.
Instructions
For each of the three situations, say if the accounting method used is correct or incorrect. If correct, identify which principle or assumption supports the method used. If incorrect, identify which principle or assumption has been violated.

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ACC 280 / XACC 280 : E1-3 Larry Smith, president of Smith Company

ACC 280 / XACC 280

Axia College of University of Phoenix (UoP)

Principles of Accounting

Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2008). Financial Accounting (6th ed.). Hoboken, NJ: Wiley.

ACC 280 / XACC 280 Solution
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Exercise 1-3 (E1-3) Larry Smith, president of Smith Company, has instructed Ron Rivera, the head of the accounting department for Smith Company, to report the company’s land in the company’s accounting reports at its market value of $170,000 instead of its cost of $100,000. Smith says, “Showing the land at $170,000 will make our company look like a better investment when we try to attract new investors next month.”
Instructions
Explain the ethical situation involved for Ron Rivera, identifying the stakeholders and the alternatives.

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ACC 280 / XACC 280 : E1-2 (a) The following are users of financial statements

ACC 280 / XACC 280

Axia College of University of Phoenix (UoP)

Principles of Accounting

Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2008). Financial Accounting (6th ed.). Hoboken, NJ: Wiley.

ACC 280 / XACC 280 Solution
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Exercise 1-2 (E1-2) (a) The following are users of financial statements.
______Customers
______Securities and Exchange Commission
______Internal Revenue Service
______Store manager
______Labor unions
______Suppliers
______Marketing manager
______Vice-president of finance
______Production supervisor
Instructions
Identify the users as being either external users or internal users.

(b) The following questions could be asked by an internal user or an external user.
______Can we afford to give our employees a pay raise?
______Did the company earn a satisfactory income?
______Do we need to borrow in the near future?
______How does the company’s profitability compare to other companies?
______What does it cost us to manufacture each unit produced?
______Which product should we emphasize?
______Will the company be able to pay its short-term debts?
Instructions
Identify each of the questions as being more likely asked by an internal user or an external user.

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ACC 280 / XACC 280 : E1-1 Urlacher Company performs the following

ACC 280 / XACC 280

Axia College of University of Phoenix (UoP)

Principles of Accounting

Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2008). Financial Accounting (6th ed.). Hoboken, NJ: Wiley.

ACC 280 / XACC 280 Solution
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Determine effect of transactions on basic accounting equation.

Exercise 1-1 (E1-1) Urlacher Company performs the following accounting tasks during the year.
______Analyzing and interpreting information.
______Classifying economic events.
______Explaining uses, meaning, and limitations of data.
______Keeping a systematic chronological diary of events.
______Measuring events in dollars and cents.
______Preparing accounting reports.
______Reporting information in a standard format.
______Selecting economic activities relevant to the company.
______Summarizing economic events.
Accounting is “an information system that identifies, records, and communicates the economic events of an organization to interested users.”
Instructions
Categorize the accounting tasks performed by Urlacher as relating to either the identification (I), recording (R), or communication (C) aspects of accounting.

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Saturday, May 1, 2010

MGT 431 Five-Year Career Development Plan

MGT 431

Human Resource Management

University of Phoenix (UoP)

MGT 431 Five-Year Career Development Plan

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Five-Year Career Development Plan MGT431

Electronic Reserve Readings, Internet, or additional resources, prepare a 900- to 1,250-word paper in which you create your own 5-year career development plan. Your plan must include the following:
o Career goals and objectives
o Possible promotional opportunities for career growth
o Methods for career management
o An inventory of current skills, abilities, training, and education
o Job satisfaction attributes
o Identification of three action steps to reaching stated career goals and objectives
o Identification of potential barriers to reaching stated career goals
o An analysis of the affect of career training programs

Five-Year Career Development Plan MGT431
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ECO 561 Individual Assignment: Revenue, Cost Concepts, and Market Structure Proposal - Clear Hear Scenario

ECO 561

Axia College of University of Phoenix (UoP)

ECONOMICS

Clear Hear Scenario


Week Four 4

3.
Individual Assignment: Revenue, Cost Concepts, and Market Structure Proposal
Resources: Will Bury, Clear Hear, or Thomas Money Service scenarios located on your student Web site.
Select from the Will Bury, Clear Hear, or Thomas Money Service scenarios located on your student Web site for this assignment.
Create a 1,050- to 1,400-word business proposal in which you provide recommendations to the company for increasing revenue for the company, achieve ideal production levels, determine how fixed and variable costs should be adjusted to maximize profit, and identify methods to reduce costs.
Describe your process to make recommendations.
Include economic concepts to provide support for recommendations.
Answer the question: What assumptions did you make about the organization and its values?

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ECO561
Week 4
Clear Hear Scenario

Clear Hear is a manufacturer of cell phones, where Kendra Sherman works as a business development specialist. Kendra anxiously awaits her appointment with Lisa Norman, the production manager for Clear Hear. Kendra has secured an order for 100,000 cell phones that are nearly identical to Clear Hear’s Alpha model, which will support a promotion that a major chain, Big Box, is running with a telephone service provider. The delivery date is in 90 days. Lisa is interested, in part, because she has an excess capacity of 70,000 cell phone units over the next 3 months, and part of her bonus is based on running the factory at capacity. The larger part of her bonus, however, is based on factory total profitability. Big Box, however, will not pay more than $15 for each of the cell phones, which are based on the $20 per unit Alpha model, lessening Kendra’s enthusiasm.

Clear Hear runs two production lines at its factory. The other line produces the Beta model, which has more features. The Beta model sells for $30 but also costs more to produce. Lisa knows that she could switch production of 30,000 units from the Beta model to Alpha to complete the order. Just last week, however, an Original Equipment Manufacturer (OEM), which has extensive experience manufacturing cell phones for other brands and has won several quality awards for its manufacturing processes, showed Lisa a prototype of the Alpha unit. The OEM sought to convince Lisa that not only could they produce up to 100,000 units of the Alpha on short notice, but the performance of the cell phone would be identical to Clear Hear’s product. The price would be a nonnegotiable $14 per unit.

After the meeting, Lisa reviewed the last month’s unit profitability report that revealed the following:

Table 1

Unit Profitability Report
Alpha model Beta model
Price per unit 20 30
Variable cost per unit 8 12
Fixed overhead 9 10
Profits 3 8
Note. All unit prices are in dollars.

Unfortunately, although unit profits were good and cost controls met factory standards, the underutilization of capacity deprived Lisa and the factory of profits that could have been earned on an additional 70,000 units. Kendra wants to know if she should accept the order from Big Box.

As Lisa Norman thinks about how to proceed, she studies Clear Hear’s statement of values. Clear Hear’s values include the following:

• Keep our employees working.
• Provide our customers with products on time and that reliably meet or exceed their expectations.
• Treat our business partners the same as we want to be treated.

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