You have available to you an extensive data set that includes detailed financial data for Discount Goods and Big Store and for 20122021. The data set is in the form of an Excel file available to...

Forecasted financial statements are given Sales (all on credit) Cost of Goods Sold Gross Profit Selling and Administrative Expense Rent Expense Depreciation Expense Operating profit (EBIT) Interest...

Jimmy operated his own shoe design and manufacturing business from a warehouse in the CBD. Jimmy purchased the warehouse on 1 July 2017 for $1.5 milion, it had been constructed in 2009 and the cost...

Mike Greenberg opened Sheffield Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 Issued 12,700 shares of common stock for $12,700 cash. 1 Purchased...

A commercial furniture wholesaler reserves for its allowance for doubtful accounts based on standard reserve percentages supported by historical collection experience. (Note that this example does...

On 12/31/2021, 7-Eleven acquired 75 percent of Speedway's net identifiable assets for $177,000. The book value of Speedway's assets was equal to $210,000 at the date of acquisition. The fair value of...

The City of Monroe maintains a Water and Sewer Fund to provide utility services to its citizens. As of January 1, 2020, the City of Monroe Water and Sewer Fund had the following account balances:...

Based on the narrative below, prepare a flowchart that documents the flow of information and the procedures performed at O?Brien Corp ?? O'Brien Corp. is a midsize, privately owned, industrial...

In early 2014, Paul Bills, CFO of Harvard Business Publishing (HBP), sat down with David Wan, the companys CEO, to discuss budget preparations for the coming year. Bills noted that the performance of...

Calculate the number of days for the workshops. 11 In cell E5, enter a formula to calculate the number of days for the first workshop. Add 1 to the results to include the total number of days,...

For this week, you will be computing interest and explain what you have learned in Unit 6 about borrowing money. 1. You own a farm and grow seasonal products such as pumpkins, squash, and pears. Most...

Quest, Inc. is a calendar-year, accrual-basis C corporation engaged in manufacturing. Listed in column A are year 2 transactions from Quests financial statements and tax records. In column B, enter...

Accounting Case 20-10 Auditing Logistical Logistics Background Logistical Logistics Inc. (Logistical Logistics or the Company) provid O The contract identifies the shipping containers and acceptable...

LUKE'S GENERAL STORE Inventory December 31, 20X7 Price Test Results Proper Action (select one): Test Test Count Item Description Auditor Notes (last purchased Item# Results: price): Boxes appear...

Hal Lelulia is the sole shareholder of Microcosm Ltd., a corporation with an October 31 year-end. Microcosm Ltd. produces trivia games. Hal started the corporation with an initial capital investment...

The company Smart Inc. is a company that produces Dog Shampoo in Toronto area. The results of the company, which has been mediocre for the past couple of years, have been presented in the annual...

An American Company, on January 1, 2020 purchased a 100% interest in a subdivision located in Italy. Sales were earned and operating expenses were incurred evenly during the year. Exchange rates for...

Jose and Maria Dias bought their first home in Milton, Ontario, two years ago. The purchase price was $500,000. They were determined to get a conventional mortgage and were able to come up with a...

Assume Nordstrom prepares budgets quarterly. The following information is available for use in planning the second quarter budgets for one of its stores (in thousands). NORDSTROM Balance Sheet March...

You are the managerial accountant at Reliable Company. You have been assigned to support the marketing department and manage its master budget. The marketing department is responsible for the...

Danae Coleman is single and lives at 5411 Melbourne Avenue, Chicago, IL 60455. She is a supervisor and her SSN is 412-34-5670. Using the following information, complete her tax return for 2017:...

The objective of this project is to explore applying data analytics tools to address a business question/problem, and communicate insights derived from your interpretation of your analytics results....

Ryan Ross (111-11-1112), Oscar Omega (222-22-2222), Clark Carey (333-33-3333), and Kim Kardigan (444-44-4444) are equal active members in ROCK the Ages LLC. ROCK serves as agents and managers for...

Wildcat, Incorporated, has estimated sales (in millions) for the next four quarters as follows: Sales Q1 $ 155 Q2 Q4 Q3 $175 $195 $ 225 Sales for the first quarter of the year after this one are...

D. Deni commenced business on 1 April 2014 by depositing Sh.8 million into the business bank account. All receipts and payments were channelled through this business account. During the year ended 31...

Read Mattel Incorporated in 2019: Hard Times in the Toy Industry (Case 7 in Textbook) Complete the Mattel Incorporated Spreadsheet with your calculations of the indicated (green boxes) financial...

Ben, Jason, and Kelly are planning on forming a business together. The business will begin as of 1/1/19 (assets transferred as of this day). They plan on transferring the following assets to the...

Tim is a producer of Christmas trees in a perfectly competitive market that is currently in long run equilibrium at the price of $50. At equilibrium quantity of 100 trees, Tims average variable cost...

Dr. Jordan Davis has hired your professional services to file her income tax return. Dr. Davis is a retired surgeon. Due to her failing eyesight, Jordan was required to retire from her occupation at...

A firm sells five types of womens parkas. Some data follow. Parka Price Cost Salvage NV Q NV EP A $220 167.2 132 1,100 300 1,176 $47,949 B 205 155.8 127.1 2,000 800 2,269 74,992 C 190 144.4 121.6...

Tom and Rick plan to form T & S Investments, a general partnership, to remodel and operate a small shopping mall in a building that is owned by Rick. They have agreed that Tom will contribute...

Games Galore has provided its condensed financial statements for the year ended December 31, 2016. The Controller has asked you to calculate liquidity, solvency, and profitability ratios that...

EngProjects, Inc., is an engineering firm with approximately 500 engineers in different specialties. The company keeps records on all employees, their skills, assigned projects, and the departments...

Shorecliff College, a liberal arts college located on the West Coast, provides dormitory housing for approximately half of its students. Students who choose not to live on campus, or who do not get...

In meeting with PLEs human resources director, Elizabeth also discovered a concern about the high rate of turnover in its field service staff. Senior managers have suggested that the department look...

A large manufacturing firm is concerned about lost production (i.e., production capability that was not utilized for a variety of reasons). One of the causes of such lost production was identified as...

During July, the following occurred: Cantu invested $20,000 cash in the business. Rented office space and paid the month's rent of $1,000. Purchased sound system equipment for $8,000 by paying $3,000...

It sputtered and squeaked and with a small hesitation followed by an abbreviated lunge, it was finally over: Ol Reliable, the car Jamie Lee had driven since she first earned her drivers license at...

The following transactions were completed by Almeda Inc., whose fiscal year is the calendar year: Year 1 July 1. Issued $75,000,000 of 10-year, 9% callable bonds dated July 1, Year 1, at a market...

The DSV Partnership decided to liquidate as of June 30, 20X5. Its balance sheet as of this date follows: DSV PARTNERSHIP Balance Sheet At June 30, 20xs Assets $ 50,000 95,000 75,000 Cash Accounts...

3. McDonald's is having a promotional lottery. They print 5,000 prize tickets to be peeled off cups and fries. The prizes and corresponding number of tickets are listed in the table; i.e., 1 in 5000...

December 31, 20X5 Posey Company acquired 90% of Stargell Corporation's outstanding common stock for $1,116,900. On that date: ? The fair value of the noncontrolling interest was $124,100; ? Stargell...

Mr. Asif, a Salaried Individual, has following information for the Tax Year 2020. His Annual Tax Certificate from Employer shows, Annual Gross Salaried Income of Rs. 950,000 His employer has deducted...

Le Natures Internal Control Case Analysis Read this case study about Le Nature's problems. After readying Use a case format to address the seven questions 1. identify the parties impacted by quality...

Calculate takt time, calculate a number of workstations, assign tasks to workstations, and calculate efficiency after completing and implementing the line balance analysis. Without changing any...

You are working as an analyst for a large cable company that offers bundles of channels all across the United States. One of the bundles is the "basic package," which includes network channels along...

Our company, Dawgs R Us, is evaluating a new project involving the purchase of a new oven to bake your hotdog buns. If purchased, the new oven will replace your existing oven, which was purchased...

Your organization, located in Manitoba, will be enhancing the group benefits plan offered to employees in two months by adding accidental death and dismemberment (AD&D) coverage and vision care...

Wexdorf Consulting Ltd. has been in business for several years, providing software consulting to its customers on an annual contract or special assignment basis. All work is done over the Internet,...

Create an accounting flowchart from the following dialogue: Cathy Apple, from internal audit, interviews Irene Patricia I.P. Nightly Payroll Supervisor CA: Mrs. Nightly, Im Cathy Apple from the...

Easy Carwash is a small local shop offering premium hand car washing services, including express wash and ultimate clean. Prevailing prices in the local market are $30 for an express wash, exterior...

Its time to plan how to spend the next years Marketing budget. Currently, we use a mix of web ads (a combination of banner ads and social media), print ads in trade publications, and booths at trade...

An employee, Fred, working in the accounts office of a medium-sized company listed on the Nairobi Stock Exchange, was working late one evening during the week. He realized he had left his pen in the...

Blue-Eyed Beauty Supply is the talk of the town. When Elaine started her business, she had no idea it would evolve to be the number-one supplier of cosmetology products in the region. While her...

Pinehurst County established a capital projects fund at the beginning of 2021 to construct a courthouse. The estimated cost of the courthouse was $3,530,000. Construction will be financed in the...

Corbie and James are trying to set up their budget. Corbie earns $2750 paid once a month after taxes. James gets paid every other week for tutoring at the local library, and his smallest paycheck in...

A group of student investors in Hong Kong opened Campus Laundromat Inc. on September 1, 2014. During the first month of operations, the following transactions occurred. Sept. 1 Shareholders invested...

Clearwater Hospital has never used standard costs. By searching industry literature, however, you have determined the following nationwide averages for hospital labs: Three plates are required per...

Moab, Inc. manufactures and distributes high-tech biking gadgets. It has decided to streamline some of its operations so that it will be able to be more productive and efficient. Because of this...

BLG is a limited liability Company taxed as a partnership and has four shareholders each owning 25% of the outstanding Interests (Shares). The shareholders outside basis in their respective Interests...

Submit a detailed report to your potential investors and other stakeholders to explain and defend your costing strategies and to share your businesss performance to date. Your report can be in the...

Consider the following income tax footnote information for Oracle for the fiscal year ended May 31, 2019 (fiscal year 2019). The following is a geographical breakdown of income before the provision...

You are an audit manager at Hogan & Associates and have been assigned to the audit of Looking Good Ltd (LGL) for the year ending 30 June 2015. LGL is an Australian manufacturer, wholesaler and...

The donahoo western furnishings company was formed on December 31 2014 with $1,000,000 in equity plus $500,000 in long term debt. On January 1 2015 all of the firms capital was held in cash. The...

Authorization of Credit Tests of Controls Using IDEA For this exercise, your client, Bright IDEAs Inc., has provided you with data for two related files, a listing of sales invoices, and a listing...

Delcatty Design Company manufactures expensive brass doorknobs. It has total assets amounting to ?2,500,000 and liabilities of ?1,500,000.The fixed cost of producing and marketing the doorknob is...

On March 1, 2018, Maxus Energy acquired a gold mine for $29,000,000. At the time of acquisition, the Proven and Probable gold reserves of the mine were estimated to be 470,000 ounces. During the...

Bombardiers 2016 annual report, the company reported that it made a provision for onerous contracts, specifically Onerous contracts provision - C Series aircraft program. What was it? Read the annual...

Kayleigh, a second-year business owner, has learned a bit about budgeting but needs some more insight. At the start of the year, she made a budget for selling 2,000 umbrellas, her main product....

This is a team assignment. You will continue to work in the same team as previously assigned. Your team is provided with a group discussion tool and Collaborate video meeting space to assist you in...

Ms. Biden is the vice-president of Marketing with Dundas Manufacturing Ltd. She is one of a group of eight senior executives who have been granted options to purchase from the corporation unissued...

Solstice Fitness Co. (Solstice) is a privately owned chain of high-end fitness clubs offering a range of services and amenities to its members, including state-of-the-art fitness facilities, group...

The Business Programs department at SFC has six programs: Accounting, Exonomics, Health Information Management, Legal Assisting, Organizational Management, and Office Systems Technology. Each program...

Assume a large number of cardboard sheets with 23 inch width is available. From these 23 inch sheets, we need to cut sheets with width 6 inch and 8 inch, in only one direction. The demand for sheets...

Healthcare Co. develops and manufactures sanitisation stations to help reduce the proliferation of viruses. Although it is committed to maximising the wealth of its shareholders, the company has...

Real Value Corporation (the Company), is a public company (and an SEC registrant) that creates augmented reality technology. The Companys primary source of revenue is currently from universities that...

On November 23, 1970, plaintiff Koster and defendant Automark Industries Incorporated (Automark) consummated a five-month course of negotiation by entering into an agreement whereby Automark promised...

The Boston Bar Chocolate Company (BBCC) is a privately owned business that takes pride in the value of its tasty and healthy chocolate bars. The company wholesales its product to high-end grocery...

Quincy Corp. began operations on January 1, 20x1. The corporate charter authorizes the issuance of 500,000 shares of $10 par common stock and 100,000 shares of $50 par, 5% preferred stock.

Roger Armstrong (D.O.B. 1967-01-01) is an insurance broker who has been very successful at his job in the lastfew years. Three years ago, his only child, Victoria, was driving a car that was hit by...

Your client, Albert Jones, is evaluating three investment options that require a $30,000 investment. Each investment has a five-year horizon. In order to finance the investment, Albert is going to...

The objective of this exercise is to develop your ability to perform a comprehensive analysis on a set of financial statements. Use the copy of the 2018 annual report of Dollarama Inc. (year end...

Harry is the sole director of Catty Nips Pty Ltd. Catty Nips owns and manages a cattery in the Swan Valley. Harry is the sole employee of Catty Nips. He has always loved running the cattery until he...

In this mini-case you will perform some procedures required as a part of audit planning. For ease your audit manager has already organized the workpapers and completed several of the required...

Dr. George E. Beeper is a single taxpayer born on September 22, 1972. He lives at 45 Mountain View Dr., Apt. 321, Spokane, WA 99210. Dr. Beeper's Social Security number is 775-88-9531. Dr. Beeper...

Meek's Penguin Corp. (MPC) is a Canadian company that reports its financial results in accordance with IFRS. On December 31, 20X6, MPC paid $720,000 cash to acquire 70% of Zoebug Supply Inc.'s (ZSI)...

Washington Theater System entered into a three-year agreement with a local civic organization such that the organization would provide 5,000 of its patrons each month with a special ticket to attend...

An Israeli researcher randomly assigned college students to tables of 6 people to go out to eat. Have been to pay for their individual meals and have been to split the final check. There were a total...

In which quarter(s) was the percentage change in velocity positive? Choose one or more: A. Q1 2020 B. Q2 2020 C. Q3 2020 Part 2 (2 points) Lets focus on the second quarter since the change in...

You are a financial analyst in the financial planning and analysis department of WCC. You have been assigned the following: Complete a five-year forecast based on the above assumptions. Do you...

Alanco, Inc. manufactures a variety of products and is currently manufacturing all of its own component parts. An outside supplier has offered to sell one of those components to Alanco. The...

Tanaka, Tiana and Tina are in partnership for the business T3 Enterprise. They are sharing profits and losses in the ratio 3:2:1 respectively. The balance sheet for the partnership as at June 30,...

Imagine that you are an investor on January 1, 2004, and using the historical data up to that date. Assume that the Global index cannot be included in your portfolio. a. Plot the efficient frontier...

You are the accountant for ACC KarParts, a thriving company that makes auto parts. You oversee all accounting functions within the company. Quinn, your supervisor, has informed you that if the...

Your model has three input variables that you use: (A, B, and C). Currently you use (0.5, 6, 3). You believe that actual values of these input variables follow a uniform distribution. The bounds for...

Toronto Cricket Property Inc. (TPI) has been incorporated with the purpose of build and operate a world-class cricket stadium outside Toronto. The land on which the stadium will be build is currently...

A national bank has developed a predictive model for identifying customers who are more likely to accept a credit card offer, if a customer is predicted to accept the credit card offer, he or she is...

WeGrewIt Produce Company collects vegetables from several regional farms, consolidates its collections, and then ships the vegetables to a regional wholesale vegetable market by truck. The most...

The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods: Current assets as of March 31: Cash $ 8,000 Accounts receivable 20,000 Inventory 36,000...

Some firms benefit from the speed and efficiency of blockchain technology to manage their supply chains. Optimally, firms that want to participate in a supply chain based on blockchain technology...