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Please Helpmme 1. What Are The “positives” Of Developing Standards? Negatives? 2. What

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please helpmme 1. What are the “positives” of developing standards? Negatives? 2. What types of standards or expectations have existed in jobs that you have worked?

Prepare The Operating Activities Section Of A Statement Of Cash Flows Using The Indirect

Prepare the operating activities section of a statement of cash flows using the indirect method

Question: In July 2018, NBS Ltd Calls For Public Subscriptions For 72,000 Shares. The

Question: In July 2018, NBS Ltd calls for public subscriptions for 72,000 shares. The issue price per share is $1.10, to be paid in three instalments being $0.60 on application, $0.20 within one month of the shares been allotted and $0.30 within two months of the first and final call. By the end of August, when applications close, applications have been received for 90,000 shares with all shareholders only paying the required application fee. The constitution of the company states that excess monies on application can be applied to future allotments and calls. The company directors decided to allot shares on a pro rata basis being 8 shares for every 10 applied for. Allotment of the shares happened on 1 September. All outstanding allotment monies were received by the end of September. Legal costs of forming the company were $1,300 and were paid on 11 October. Share issue costs of $10,000 were also paid on the same date. The business called for final payment on 1 November and the holders of 57,000 shares made the payment that due on 30 December. The directors decided to forfeit the remaining 15,000. On 31 December, the directors decided to reissue the 15,000 shares as fully paid for a consideration of 70c per share. The cost of reissuing is $600. By 15 January 2019, all monies were received. Surplus funds were returned to the original shareholders by 30 January 2019. On 1 March 2019, a 1-for-10 rights issue was made to all existing ordinary shareholders at an issue price of $10 per share. All rights were exercised by the expiry date 31 March. On 1 April 2019, an offer was made to all existing ordinary shareholders to apply for one $100 7% debenture for every 100 shares held. Applications and money were received from holders of 100 000 share by 20 April. Required: Prepare general journal entries to record the above transactions of NBS Ltd. Narrations are required. (10 marks)

As Of January 1, 2017, Skysong Inc. Adopted The Retail Method Of Accounting For

As of January 1, 2017, Skysong Inc. adopted the retail method of accounting for its merchandise inventory. To prepare the store’s financial statements at June 30, 2017, you obtain the following data. Cost Selling Price Inventory, January 1 $28,600 $40,200 Markdowns 9,800 Markups 8,800 Markdown cancellations 6,400 Markup cancellations 2,900 Purchases 106,566 158,000 Sales revenue 151,600 Purchase returns 3,100 4,000 Sales returns and allowances 7,500 Part 1 Compute Skysong’s June 30, 2017, inventory under the conventional retail method of accounting for inventories. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Inventory under the conventional retail method $ eTextbook and Media Attempts: 0 of 15 used Save for LaterSubmit Answer Part 2 Without prejudice to your solution to part (a), assume that you computed the June 30, 2017, inventory to be $59,400 at retail and the ratio of cost to retail to be 71.14%. The general price level has increased from 100 at January 1, 2017, to 108 at June 30, 2017. Compute the June 30, 2017, inventory at the June 30 price level under the dollar-value LIFO retail method. (Round ratios for computational purposes to 2 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory at dollar-value LIFO cost $

Can Someone Help Me Fill In The Rest Of The Blanks Please? Harris Company

Can someone help me fill in the rest of the blanks please? Harris Company manufactures and sells a single product. Units Produced and Sold 63,000 83,000 103,000 Total costs: Variable costs $207,900 Fixed costs 440,000 Total costs $647,900 $0 $0 Cost per unit: Variable cost Fixed cost Total cost per unit $0.00 $0.00 $0.00 Required: 1. A partially completed schedule of the company’s total and per unit costs over the relevant range of 63,000 to 103,000 units produced and sold annually is given below: Complete the schedule of the company’s total and unit costs. (Round the variable cost and fixed cost to 2 decimal places.)        2. Assume that the company produces and sells 93,000 units during the year at a selling price of $9.60 per unit. Prepare a contribution format income statement for the year.        Harris Company Contribution Format Income Statement

Milden Company Has An Exclusive Franchise To Purchase A Product From The Manufacturer

Milden Company has an exclusive franchise to purchase a product from the manufacturer and distribute it on the retail level. As an aid in planning, the company has decided to start using a contribution format income statement. To have data to prepare such a statement, the company has analyzed its expenses and has developed the following cost formulas:   Cost Cost Formula   Cost of good sold    $30 per unit sold   Advertising expense    $186,000 per quarter   Sales commissions    8% of sales   Shipping expense    ?   Administrative salaries    $96,000 per quarter   Insurance expense    $10,600 per quarter   Depreciation expense    $66,000 per quarter   Management has concluded that shipping expense is a mixed cost, containing both variable and fixed cost elements. Units sold and the related shipping expense over the last eight quarters follow:   Quarter     Units Sold Shipping Expense   Year 1:       First 32,000    $ 176,000       Second 34,000      $ 191,000       Third 39,000      $ 233,000       Fourth 35,000      $ 196,000   Year 2:       First 33,000    $ 186,000       Second 36,000    $ 201,000       Third 46,400    $ 248,000       Fourth 43,400     $ 224,000 Required: 1. Using the high-low method, estimate a cost formula for shipping expense based on the data for the last eight quarters above.          2. In the first quarter of Year 3, the company plans to sell 41,000 units at a selling price of $59 per unit. Prepare a contribution format income statement for the quarter. (Do not round your intermediate calculations.)              Milden Company’s president would like a cost formula derived for shipping expense so that a budgeted contribution format income statement can be prepared for the next quarter.

At December 31, 2017, Bramble Company Has Outstanding Noncancelable Purchase Commitments For 38,000 Gallons,

At December 31, 2017, Bramble Company has outstanding noncancelable purchase commitments for 38,000 gallons, at $3.30 per gallon, of raw material to be used in its manufacturing process. The company prices its raw material inventory at cost or market, whichever is lower. Part 1 Assuming that the market price as of December 31, 2017, is $2.97, record the journal entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select “No entry” for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 6,225.) Date Account Titles and Explanation Debit Credit Dec. 31 List of Accounts Attempts: 1 of 15 used Part 2 Give the entry in January 2018, when the 38,000-gallon shipment is received, assuming that the situation given in (b2) above existed at December 31, 2017, and that the market price in January 2018 was $2.97 per gallon. Prepare the journal entry for when the materials are received in January 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select “No entry” for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 6,225.) Date Account Titles and Explanation Debit Credit Jan. 2018

The Hard Rock Mining Company Is Developing Cost Formulas For Management Planning And

The Hard Rock Mining Company is developing cost formulas for management planning and decision-making purposes. The company’s cost analyst has concluded that utilities cost is a mixed cost, and he is attempting to find a base with which the cost might be closely correlated. The controller has suggested that tons mined might be a good base to use in developing a cost formula. The production superintendent disagrees; she thinks that direct labor-hours would be a better base. The cost analyst has decided to try both bases and has assembled the following information:   Quarter Tons Mined Direct Labor-Hours Utilities Cost   Year 1:     First 35,000     7,000     $ 70,000         Second 22,000     5,000     $ 65,000         Third 40,000     6,000     $ 80,000         Fourth 32,000     8,000     $ 95,000       Year 2:     First 38,000     16,800     $ 120,000         Second 45,000     15,800     $ 125,000         Third 50,000     14,800     $ 105,000         Fourth 48,000     17,800     $ 140,000     Required: 1(a). Using tons mined as the independent variable, prepare a scattergraph that plots tons mined on the horizontal axis and utilities cost on the vertical axis.       Instructions: 1. On the graph below, use the point tool (Year 1-1st quarter) to plot tons mined on the horizontal axis and utilities cost on the Vertical axis. 2. Repeat the same process for the plotter tools (Year 1-2nd quarter to Year 2-4th quarter). 3. To enter exact coordinates, click on the point and enter the values of x and y. 4. To remove a point from the graph, click on the point and select delete option.          1(b). Determine a cost formula for utilities cost using least-squares regression. Express this cost formula in the form Y = a bX. (Round the Variable cost per unit to 2 decimal places, and Fixed Cost to the nearest dollar.)           2(a). Using direct labor-hours as the independent variable, prepare a scattergraph that plots direct labor-hours on the horizontal axis and utilities cost on the vertical axis. Instructions: 1. On the graph below, use the point tool (Year 1-1st quarter) to plot direct labor-hours on the horizontal axis and utilities cost on the Vertical axis. 2. Repeat the same process for the plotter tools (Year 1-2nd quarter to Year 2-4th quarter). 3. To enter exact coordinates, double click on the point and enter the values of x and y. 4. To remove a point from the graph, click on the point and select delete option.          2(b). Determine a cost formula for utilities cost using least-squares regression. Express this cost formula in the form Y = a bX. (Round the Variable cost to 2 decimal places, and Fixed Cost to the nearest dollar.)                3. Would you recommend that the company use tons mined or direct labor-hours as a base for planning utilities cost? Tons mined Direct labor-hours

Mercury, Inc., Produces Cell Phones At Its Plant In Texas. In Recent Years,

Mercury, Inc., produces cell phones at its plant in Texas. In recent years, the company’s market share has been eroded by stiff competition from overseas. Price and product quality are the two key areas in which companies compete in this market.      A year ago, the company’s cell phones had been ranked low in product quality in a consumer survey. Shocked by this result, Jorge Gomez, Mercury’s president, initiated a crash effort to improve product quality. Gomez set up a task force to implement a formal quality improvement program. Included on this task force were representatives from the Engineering, Marketing, Customer Service, Production, and Accounting departments. The broad representation was needed because Gomez believed that this was a companywide program and that all employees should share the responsibility for its success.       After the first meeting of the task force, Holly Elsoe, manager of the Marketing Department, asked John Tran, production manager, what he thought of the proposed program. Tran replied, “I have reservations. Quality is too abstract to be attaching costs to it and then to be holding you and me responsible for cost improvements. I like to work with goals that I can see and count! I’m nervous about having my annual bonus based on a decrease in quality costs; there are too many variables that we have no control over.”      Mercury’s quality improvement program has now been in operation for one year. The company’s most recent quality cost report is shown below. Mercury, Inc. Quality Cost Report (in thousands) Last Year This Year   Prevention costs:      Machine maintenance $ 280   $ 150        Training suppliers 6   14        Quality circles 24   95     Total prevention costs 310   259     Appraisal costs:      Incoming inspection 45   24        Final testing 160   82     Total appraisal costs 205   106     Internal failure costs:      Rework 120   64        Scrap 76   55     Total internal failure costs 196   119     External failure costs:      Warranty repairs 69   25        Customer returns 266   94     Total external failure costs 335   119     Total quality cost $ 1,046   $ 603     Total production cost $ 4,180   $ 4,580        As they were reviewing the report, Elsoe asked Tran what he now thought of the quality improvement program. Tran replied. “I’m relieved that the new quality improvement program hasn’t hurt our bonuses, but the program has increased the workload in the Production Department. It is true that customer returns are way down, but the cell phones that were returned by customers to retail outlets were rarely sent back to us for rework.” Required: 1. Expand the company’s quality cost report by showing the costs in both years as percentages of both total production cost and total quality cost. Round your percentage answers to 1 decimal place (i.e 0.1234 should be entered as 12.3).       

Lin Corporation Has A Single Product Whose Selling Price Is $134 And Whose

Lin Corporation has a single product whose selling price is $134 and whose variable expense is $67 per unit. The company’s monthly fixed expense is $32,100. Required: 1. Using the equation method, determine for the unit sales that are required to earn a target profit of $4,750. 2. Using the formula method, determine for the unit sales that are required to earn a target profit of $9,000. (Round up your answer to the nearest whole number.)      

Assume That There Is A Fire At A Company’s Manufacturing Plant That Not Only

Assume that there is a fire at a company’s manufacturing plant that not only results in a total loss of the plant but also damages several surrounding businesses. The company anticipates material exposure from the adjacent businesses regarding both building loss and lost income claims. However, the company also expects this loss to be recovered through insurance. The company does not want to reflect this in their financial statements because it reasonably expects there to be no net financial impact. However, they are aware that the SEC Staff Accounting Bulletin 92 (SAB 92) generally prohibits offsetting insurance coverage before disclosing or accruing a loss contingency. As chief financial officer (CFO), discuss the guidance and advice you would provide the chief executive officer (CEO) relative to the disclosures of a potential contingent loss.   Do the provisions of SAB 92 allow the company to reflect the true impact of the loss? What changes would you recommend to SAB 92? Please provide a rationale for your responses.

1/7/2019 – Purchased New Computer Equipment For $760 (GST Inclusive) In Cash 3/7/19 –

1/7/2019 – Purchased new computer equipment for $760 (GST inclusive) in cash 3/7/19 – Provided coaching to 21 students in cash 4/7/19 – Business repaid bank loan of 7730 7/7/19 Simon bought a laptop for personal use at home for $1254 (GST inclusive) using business’ bank account 8/7/19 Invoiced 26 students for 1 coaching lesson provided on 8th of July. Students haven’t paid yet. 9/7/19 Paid monthly employee salaries: Gross amount $3877; PAYG Tax deduc $1047; Net amount cash paid to staff $2830 11/7/19 ‘Ping pong industries’ was invoiced $429 (GST inclusive) for a consultation service regarding business expansion. Amount yet to be paid. 12/7/19 Business paid consulting expense from 11th of July in full 14/7/19 Sold 23 Head sets as bulk order in cash 16/7/19 ‘Ping pong’ purchased 17 head sets on credit from ‘Cin Ketting’ 19/7/9 Simon coached 13 students for one lesson at 20% discount. They agreed to pay when he returned 21/7/19 The business received cash for coaching provided on the 19th and 3rd of July 24/7/19 Business paid utilities bill of $3102 (GST inclusive) 25/7/19 Sold 22 headsets and received 50% in cash with remainder yet to be paid 27/7/19 ‘Ping pong industries’ paid off all debts outstanding to ‘Cin Ketting’ including any payables at the begingging of the month selling price per headset (GST inc) $33 Cost per headset (GST inc) $22 Service revenue per student per class (GST inc) $55 Opening balances: Cash $38,648 Acc receiv: $13,140 Inven: $10,821 Acc pay: $10,048 bank loan: $13,411 office furniture: $25,894 accum. depreciation – office furniture: $3,237 gst paid: $4,754 gst collected: $5,411 capital: $61,150

Discuss The Balanced Scorecard, And The Advantages It May Provide In Performance Management Above

Discuss the Balanced Scorecard, and the advantages it may provide in performance management above and beyond using only the traditional financial statements. If there are these advantages why has it not been widely adopted?

Accountants And Accounting Cannot Help Address The Environmental Issues Facing Government And Private Sector

Accountants and accounting cannot help address the environmental issues facing government and private sector leaders – to what extent do you agree or disagree with this statement, and why? Please explain your answer.

Problem 11-6 Pina Logging And Lumber Company Owns 3,040 Acres Of Timberland On The

Problem 11-6 Pina Logging and Lumber Company owns 3,040 acres of timberland on the north side of Mount Leno, which was purchased in 2005 at a cost of $580 per acre. In 2017, Pina began selectively logging this timber tract. In May 2017, Mount Leno erupted, burying the timberland of Pina under a foot of ash. All of the timber on the Pina tract was downed. In addition, the logging roads, built at a cost of $139,700, were destroyed, as well as the logging equipment, with a net book value of $329,400. At the time of the eruption, Pina had logged 20% of the estimated 511,900 board feet of timber. Prior to the eruption, Pina estimated the land to have a value of $220 per acre after the timber was harvested. Pina includes the logging roads in the depletion base. Pina estimates it will take 3 years to salvage the downed timber at a cost of $766,700. The timber can be sold for pulp wood at an estimated price of $3 per board foot. The value of the land is unknown, but must be considered nominal due to future uncertainties.

IFRS 11-11 Presented Below Is Information Related To Equipment Owned By Vaughn Company

IFRS 11-11 Presented below is information related to equipment owned by Vaughn Company at December 31, 2017. Cost (residual value $0) $8,936,000 Accumulated depreciation to date 1,003,000 Value-in-use 5,540,400 Fair value less cost of disposal 4,421,930 Assume that Vaughn will continue to use this asset in the future. As of December 31, 2017, the equipment has a remaining useful life of 8 years. Vaughn uses straight-line depreciation. Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2017. (If no entry is required, select “No entry” for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Prepare the journal entry to record depreciation expense for 2018. (If no entry is required, select “No entry” for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 The recoverable amount of the equipment at December 31, 2018, is $6,001,800. Prepare the journal entry (if any) necessary to record this increase. (If no entry is required, select “No entry” for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31

Exhibit 1: Pre-Brexit Income Statement, Assuming £1.00 = €1.36 Per Unit Quantity (Units) €

Exhibit 1: Pre-Brexit Income Statement, Assuming £1.00 = €1.36 Per Unit Quantity (Units) € £ Sales in the U.K. £200 40,000 8,000,000 U.K. Costs Contract Labor (variable cost £5 each) £5 40,000 200,000 Import of Coffee Machines (invoiced at €90 each) €90 40,000 3,600,000 2,647,059 Marketing and Distribution Costs (Fixed costs) 400,000 Other Fixed Costs: Overheads, Interest, Depreciation, Rent, Salaries, etc. 500,000 Profit (U.K. Subsidiary) £4,252,941 (€5,784,000) Recalculate the income statement above using the post Brexit exchange rate of £1.00 = €1.16, assuming that there are no changes in prices charged by the company to U.K. buyers. Calculate profits in both pounds and euros. Fill out Exhibit 2 below with your answers: Exhibit 2: Post-Brexit Income Statement, Assuming £1.00 = €1.16, no change in prices Per Unit Quantity (Units) € £ Sales in the U.K. £200 U.K. Costs Contract Labor (variable cost £5 each) £5 Import of Coffee Machines (invoiced at €90 each) €90 Marketing and Distribution Costs (Fixed costs) 400,000 Other Fixed Costs: Overheads, Interest, Depreciation, Rent, Salaries, etc. 500,000 Profit (U.K. Subsidiary) The VRA consultants argued that there were two potential price elasticities of demand: ep =- 0.8 and ep = -1.1 Why are there two different potential numbers? Which seems the most realistic to you? Explain. If ep = -.8, should Molto Delizioso raise prices, lower prices, or keep them the same? Explain. If ep = -1.1, and Molto Delizioso raises its prices to £235, will this increase or decrease revenue? Explain. Assume that marginal costs are constant and equal to variable costs.   What is the optimal markup over costs if ep =- 1.1? What is the optimal price if ep =- 1.1? Fill out Exhibit 3 below using the optimal price and compare profits to Exhibit 1

Exercise 11-26 Metlock Inc. Purchased Computer Equipment On March 1, 2017, For $31,310.

Exercise 11-26 Metlock Inc. purchased computer equipment on March 1, 2017, for $31,310. The computer equipment has a useful life of 10 years and a salvage value of $1,010. For tax purposes, the MACRS class life is 5 years. Assuming that the company uses the straight-line method for book and tax purposes, what is the depreciation expense reported in (1) the financial statements for 2017 and (2) the tax return for 2017? (Round answer to 0 decimal places, e.g. 5,125.) (1) Depreciation expense reported in the financial statements for 2017 $ (2) Depreciation expense the tax return for 2017 $ Assuming that the company uses the double-declining-balance method for both book and tax purposes, what is the depreciation expense reported in (1) the financial statements for 2017 and (2) the tax return for 2017? (Round answers to 0 decimal places, e.g. 5,125.) (1) Depreciation expense reported in the financial statements for 2017 $ (2) Depreciation expense the tax return for 2017 $

Exercise 10-7 (Part Level Submission) Sandhill Furniture Company Started Construction Of A Combination

Exercise 10-7 (Part Level Submission) Sandhill Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $4,971,900 on January 1, 2017. Sandhill expected to complete the building by December 31, 2017. Sandhill has the following debt obligations outstanding during the construction period. Construction loan-10% interest, payable semiannually, issued December 31, 2016 $1,999,900 Short-term loan-8% interest, payable monthly, and principal payable at maturity on May 30, 2018 1,611,800 Long-term loan-9% interest, payable on January 1 of each year. Principal payable on January 1, 2021 1,006,500 (a) Assume that Sandhill completed the office and warehouse building on December 31, 2017, as planned at a total cost of $5,212,300, and the weighted-average amount of accumulated expenditures was $3,779,200. Compute the avoidable interest on this project. (Use interest rates rounded to 2 decimal places, e.g. 7.58% for computational purposes and round final answers to 0 decimal places, e.g. 5,275.) Avoidable Interest $

Exercise 10-9 (Part Level Submission) On July 31, 2017, Headland Company Engaged Minsk

Exercise 10-9 (Part Level Submission) On July 31, 2017, Headland Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction was begun immediately and was completed on November 1, 2017. To help finance construction, on July 31 Headland issued a $283,200, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $175,200 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term marketable securities (trading securities) at 10% until November 1. On November 1, Headland made a final $108,000 payment to Minsk. Other than the note to Netherlands, Headland’s only outstanding liability at December 31, 2017, is a $30,200, 8%, 6-year note payable, dated January 1, 2014, on which interest is payable each December 31. (a) Calculate the interest revenue, weighted-average accumulated expenditures, avoidable interest, and total interest cost to be capitalized during 2017. Interest revenue $ Weighted-average accumulated expenditures $ Avoidable interest $ Interest capitalized $

Problem 10-2 Selected Accounts Included In The Property, Plant, And Equipment Section Of

Problem 10-2 Selected accounts included in the property, plant, and equipment section of Sandhill Corporation’s balance sheet at December 31, 2016, had the following balances. Land $360,000 Land improvements 168,000 Buildings 1,320,000 Equipment 1,152,000 During 2017, the following transactions occurred. 1. A tract of land was acquired for $180,000 as a potential future building site. 2. A plant facility consisting of land and building was acquired from Mendota Company in exchange for 24,000 shares of Sandhill’s common stock. On the acquisition date, Sandhill’s stock had a closing market price of $37 per share on a national stock exchange. The plant facility was carried on Mendota’s books at $132,000 for land and $384,000 for the building at the exchange date. Current appraised values for the land and building, respectively, are $276,000 and $828,000. 3. Items of machinery and equipment were purchased at a total cost of $480,000. Additional costs were incurred as follows. Freight and unloading $15,600 Sales taxes 24,000 Installation 31,200 4. Expenditures totaling $114,000 were made for new parking lots, streets, and sidewalks at the corporation’s various plant locations. These expenditures had an estimated useful life of 15 years. 5. A machine costing $96,000 on January 1, 2009, was scrapped on June 30, 2017. Double-declining-balance depreciation has been recorded on the basis of a 10-year life. 6. A machine was sold for $24,000 on July 1, 2017. Original cost of the machine was $52,800 on January 1, 2014, and it was depreciated on the straight-line basis over an estimated useful life of 7 years and a salvage value of $2,400. (a) Calculate the balance at December 31, 2017 in each of the following balance sheet accounts. (Hint: Disregard the related accumulated depreciation accounts.) Balance at December 31, 2017 Land $ Land Improvements $ Buildings $ Equipment $

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