Week Three Exercise Assignment

Inventory

1. Specific identification method. Boston Galleries uses the specific identification method for inventory valuation. Inventory information for several oil paintings follows. 

  

Painting

Cost

 

1/2 Beginning inventory 

Woods 

$21,000 

 

4/19 Purchase 

Sunset 

21,800 

 

6/7 Purchase 

Earth 

31,200 

 

12/16 Purchase 

Moon 

4,000 

       

Woods and Moon were sold during the year for a total of $35,000. Determine the firm’s 

a. cost of goods sold. 

b. gross profit. 

c. ending inventory. 

2.  Inventory valuation methods: basic computations. The January beginning inven­tory of the White Company consisted of 300 units costing $40 each. During the first quarter, the company purchased two batches of goods: 700 Units at $44 on February 21 and 800 units at $50 on March 28. Sales during the first quarter were 1,400 units at $75 per unit. The White Company uses a periodic inventory system. Using the White Company data, fill in the following chart to compare the results obtained under the FIFO, LIFO, and weighted-average inventory methods.

  

FIFO

LIFO 

Weighted Average

 

 

Goods   available for sale  

$ 

$ 

$ 

 

Ending   inventory, March 31 

 

Cost of   goods sold 

         

3. Perpetual inventory system: journal entries. At the beginning of 20X3, Beehler Company implemented a computerized perpetual inventory system. The first transactions that occurred during 20X3 follow: 

· 1/2/20X3 Purchases on account: 500 units @ $6 = $3,000 

· 1/15/20X3 Sales on account: 300 units @ $8.50 = $2,550 

· 1/20/20X3 Purchases on Account: 200 units @ 5 = $1,000

· 1/25/20X3 Sales on Account: 300 units @ $8.50 = $2,550

The company president examined the computer-generated journal entries for these transactions and was confused by the absence of a Purchases account.

a. Duplicate the journal entries that would have appeared on the computer printout under FIFO & LIFO

b. Calculate the balance in the firm’s Inventory account under each method. 

c. Briefly explain the absence of the Purchases account to the company president.

4. Inventory valuation methods: computations and concepts.

Wild Riders Surfboard Company began business on January 1 of the current year. Purchases of surfboards were as follows:

  

Date 

Quantity

Unit Cost

Total Cost

 

1/3

100

$125 

$12,500 

 

4/3

200

$135 

$27,000 

 

6/3

100

$145 

$14,500 

 

7/3

100

$155 

$15,500 

 

Total

500

$69,500 

Wild Riders sold 400 boards at $250 per board on the dates listed below. The company uses a perpetual inventory system.

  

Date 

Quantity Sold

Unit Price

Total Sales

 

3/17

50

$250 

$12,500 

 

5/17

75

$250 

$18,750 

 

8/10

275

$250 

$68,750 

 

Total

400

$100,000 

Instructions

a. Calculate cost of goods sold, ending inventory, and gross profit under each of the following inventory valuation methods:

· First-in, first-out 

· Last-in, first-out 

· Weighted average

b. Which of the three methods would be chosen if management’s goal is to 

(1) produce an up-to-date inventory valuation on the balance sheet? 

(2) show the lowest net income for tax purposes? 

5. Depreciation methods. Mike Davis Enterprises purchased a delivery van for $40,000 in January 20X7. The van was estimated to have a service life of 5 years and a resid­ual value of $6,000. The company is planning to drive the van 20,000 miles annually. Compute depreciation expense for 20X8 by using each of the following methods: 

a. Units-of-output, assuming 17,000 miles were driven during 20X8 

b. Straight-line 

c. Double-declining-balance 

6. Depreciation computations. Alpha Alpha Alpha, a college fraternity, purchased a new heavy-duty washing machine on January 1, 20X3. The machine, which cost $2,000, had an estimated residual value of $100 and an estimated service life of 4 years (1,800 washing cycles). Calculate the following: 

a. The machine’s book value on December 31, 20X5, assuming use of the straight-line depreciation method 

b. Depreciation expense for 20X4, assuming use of the units-of-output depreciation method. Actual washing cycles in 20X4 totaled 500. 

c. Accumulated depreciation on December 31, 20X5, assuming use of the double-declining-balance depreciation method.

7. Depreciation computations: change in estimate. Aussie Imports purchased a specialized piece of machinery for $50,000 on January 1, 20X3. At the time of acquisition, the machine was estimated to have a service life of 5 years (25,000 operating hours) and a residual value of $5,000. During the 5 years of operations (20X3 – 20X7), the machine was used for 5,100, 4,800, 3,200, 6,000, and 5,900 hours, respectively. 

Instructions 

a. Compute depreciation for 20X3 – 20X7 by using the following methods: straight line, units of output, and double-declining-balance. 

b. On January 1, 20X5, management shortened the remaining service life of the machine to 15 months. Assuming use of the straight-line method, compute the company’s depreciation expense for 20X5. 

c. Briefly describe what you would have done differently in part (a) if Aussie Imports had paid $47,800 for the machinery rather than $50,000 In addition, assume that the company incurred $800 of freight charges $1,400 for machine setup and testing, and $300 for insurance during the first year of use.

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ROFESSIONAL DEVELOPMENT PLAN has been started, I put enough information about what I want and how I would like it to look. Just need someone to finish it up. The grammer should be correct and it should be in APA format. Original work only. Please answer the question throughly using correct grammer and sentance structure.  I need this paper to be graduate worthy. 

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Ashford 6: – Week 5 – Final Paper

 

Final Paper
 

Focus of the Final Paper
 

Write a five-to seven-page financial statement analysis of a public company, formatted according to APA style as outlined in the Ashford Writing Center.   In this analysis you will discuss the financial health of this company with the ultimate goal of making a recommendation to other investors.   Your paper should consist of the following sections: introduction, company overview, horizontal analysis, ratio analysis, final recommendation, and conclusions.  Your paper needs to include a minimum of two scholarly resources in addition to the textbook as references.
 

Here is a breakdown of the sections within the body of the assignment:  
 

Company Overview
Provide a brief overview of your company (one to two paragraphs at most).   What industry is it in?   What are its main products or services?  Who are its competitors?  

Horizontal Analysis of Income Statement and Balance Sheet
Prepare a three-year horizontal analysis of the income statement and balance sheet of your selected company.  Discuss the importance and meaning of horizontal analysis.  Discuss both the positive and negative trends presented in your company.  
 

Ratio Analysis
Calculate the current ratio, quick ratio, cash to current liabilities ratio, over a two-year period.   Discuss and interpret the ratios that you calculated.  Discuss potential liquidity issues based on your calculations of the current and quick ratios.  Are there any factors that could be erroneously influencing the results of the ratios?  Discuss liquidity issues of competitive companies within the same industry.  
 

Recommendation
Based on your analysis would you recommend an individual invest in this company?  What strengths do you see?  What risks do you see?  It is perfectly acceptable to state that you would recommend avoiding this company as long as you provide support for your position.  
 

Writing the Final Paper

1.   Must be five to seven double-spaced pages in length, and formatted according to APA style as outlined in the Ashford Writing Center.
2.   Must include a title page with the following:

a.   Title of paper
b.   Student’s name
c.   Course name and number
d.   Instructor’s name
e.   Date submitted

3.   Must begin with an introductory paragraph that has a succinct thesis statement.
4.   Must address the topic of the paper with critical thought.
5.   Must end with a conclusion that reaffirms your thesis.
6.   Must document all sources in APA style, as outlined in the Ashford Writing Center.
7.   Must include a separate reference page, formatted according to APA style as outlined in the Ashford Writing Center.
 

Carefully review the Grading Rubric for the criteria that will be used to evaluate your assignment.

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Ashford 5: – Week 4 – Discussion 2

 

Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Reference the Discussion Forum Grading Rubric for guidance on how your discussion will be evaluated.

 

     

Problem   Solving

 Choose one of the following scenarios from Chapter 8 in your text: Some parents request that their boys should not be      permitted to play in the dress up area, and should not be allowed to wear      women’s hats, shoes, and clothes to dress up.  Some parents complain that their children continually      come home with paint on their clothes and sand in their hair, and ask that      their children not be allowed to paint or play in the sandbox (Wardle,      2013, p. 221). 

Using the following strategies from Keyser, presented in Chapter 8, construct a thoughtful response to the parent in your chosen situation.  Name the scenario in your post (Dress Up or Mess).  Then, respond to each of the following points in your post. Listen and ask open-ended questions.  (What      questions will you ask to be sure you understand the parent’s      perspective?)  Restate and reframe the parent’s ideas.  (How will      you rephrase the situation to demonstrate to the parent that you      understand their problem?)  Find common ground.  (Refer back to the      child.  Restate that both you and the parent want what is best for      the child, therefore______ should be done.)  State your position, ideas, and feelings.  (Be      sure to leave your emotions out of this.  Be sure to include      fact.)   Give information as appropriate.  (At this point,      you must include one outside resource, preferably a community resource, to      assist the parent with this issue.)  Give the parent an opportunity to respond. (What will      you say to encourage the parent to share their thoughts?)  Outline the conflict as equally valid viewpoints.      (Although this would be necessary in a conversation, it is not necessary      to include in this assignment.)   Invite, discuss, and choose possible solutions. (Offer      a reasonable solution.)   Thank the parent and set up a time to check back in.      (What would be the appropriate amount of time before revisiting this      situation?) 

Guided Response:  Review several of your classmates’ posts.  Respond to at least two of your peers who chose a different scenario than you.  Offer your thoughts on how the parent in the given situation would react.  Offer at least one additional solution to the problem. 

  

Respond 

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Ashford 6: – Week 5 – Final Paper

Final Paper 

In this final assignment, you will assess your skills in interpersonal, group, and organizational communications based on your studies of these forms of communication. Address each of these forms of communication separately in the portfolio, assessing your overall skills in this area and then specifically addressing the issues listed below. Also, apply at least four of the theories or models of communication you have studied in the course. Your portfolio should address the following: Interpersonal Communication:  Your overall skills in this form of communication Your spoken language skills Your listening skills Your relationship skills Issues discussed in the Your Study of Communication       Assignment Issues discussed in the Personal Constructs Paper       Assignment  Issues discussed in the Relationship Development       Assignment Group Communications:  Your overall skills in this form of communication Five characteristics that would describe you Group roles you play most frequently Are you all territorial? How do you show your       territoriality? Do you have a large or small “personal space bubble”?       How does this affect your communication with others? Families are groups with definite roles, structure, and       norms. Analyze your family communication and your skills in this area. Organizational Communications:  Your overall skills in this form of communication Issues related to work-content skills, personal       attributes such as self-management, and technology skills discussed in       the Organizational Skills Assessment Assignment

The Final Portfolio must be seven to eight pages in length. Use at least five scholarly resources, at least two of which can be found in the Ashford Online Library, to support your claims and subclaims. The Final Portfolio must be formatted according to APA style, and all resources must be properly cited in text as well as on the reference page. For information regarding APA samples and tutorials, visit the Ashford Writing Center, within the Learning Resources tab on the left navigation toolbar.
 

Writing the Final Portfolio
The Final Portfolio: Must be seven to eight double-spaced pages in length,      and formatted according to APA style as outlined in the Ashford Writing      Center. Must include a title page with the following:  Title of paper Student’s name Course name and number Instructor’s name Date submitted Must begin with an introductory paragraph that has a      succinct thesis statement. Must address the topic of the paper with critical      thought. Must end with a conclusion that reaffirms your thesis. Must use at least five scholarly resources, including a      minimum of two from the Ashford Online Library. Must document all sources in APA style, as outlined in      the Ashford Writing Center. Must include a separate reference page, formatted      according to APA style as outlined in the Ashford Writing Center.

Carefully review the Grading Rubric for the criteria that will be used to evaluate your assignment. 

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