See attachment

Instructions

Cookie Creations (Continued)

Part I

Natalie is struggling to keep up with the recording of her accounting transactions. She is spending a lot of time marketing and selling mixers and giving her cookie classes. Her friend John is an accounting student who runs his own accounting service. He has asked Natalie if she would like to have him do her accounting.

John and Natalie meet and discuss her business. John suggests that he do the tasks listed below for Natalie.

1. Hold cash until there is enough to be deposited. (He would keep the cash locked up in his vehicle). He would also take all of the deposits to the bank at least twice a month.
2. Write and sign all of the checks.
3. Record all of the deposits in the accounting records.
4. Record all of the checks in the accounting records.
5. Prepare the monthly bank reconciliation.
6. Transfer all of Natalie’s manual accounting records to his computer accounting program. (John would maintain all of the accounting information that he keeps for his clients on his laptop computer.)
7. Prepare monthly financial statements for Natalie to review.
8. Write himself a check every month for the work he has done for Natalie.

For Part I of the assignment, identify the weaknesses in internal control that you see in the system that John is recommending. Can you suggest any improvements if Natalie hires John to do the accounting?

Part I should be a minimum of two pages in length. Please use APA format. While there are no required resources, please be sure that any sources used have proper citations.

Part II

Natalie decides that she cannot afford to hire John to do her accounting. One way that she can ensure that her cash account does not have any errors and is accurate and up-to-date is to prepare a bank reconciliation at the end of each month. Natalie would like you to help her. She asks you to prepare a bank reconciliation for June 2020 using the information below.

Additionally, take the following information into account.

1. On June 30th, there were two outstanding checks: #595 for $238 and #604 for $297.
2. Premier Bank made a posting error to the bank statement: Check #603 was issued for $425, not $452.
3. The deposit made on June 20 was for $125, which Natalie received for teaching a class. Natalie made an error in recording this transaction.
4. The electronic funds transfer (EFT) was for Natalie’s cell phone use. Remember that she uses this phone only for business.
5. The NSF check was from Ron Black. Natalie received this check for teaching a class to Ron’s children. Natalie contacted Ron, and he assured her that she will receive a check in the mail for the outstanding amount of the invoice and the NSF bank charge.

For Part II of the assignment, complete the tasks below.

• Prepare Cookie Creations’ bank reconciliation for June 30.
• Prepare any necessary adjusting entries at June 30.
• If a balance sheet is prepared for Cookie Creations at June 30, what balance will be reported as cash in the Current Assets section?

Part II can be completed in either Word or Excel. If you are completing Part II using Word, submit Parts I and II in one Word document. If you are completing Part II using Excel, upload Part I as a Word document and Part II as an Excel spreadsheet in Blackboard.

Beaver! is a large Canadian fashion shop with operations abroad. Beaver! has formed a joint venture with a UK firm. Beaver! expects to receive cash dividends from the joint venture over the next four years. The first dividend will be paid one year later with an amount of £50,000 and with a 10% annual growth rate. Assuming the current CAD/GBP exchange rate is 1.58CAD/GBP, and Beaver! Has a WACC of 11%, answering the following questions.

a.      What is the present value of the expected dividend stream in CAD if the pound is expected to appreciate 3% a year against Canadian dollar?

b.      What is the present value of the expected dividend stream if the pound is expected to depreciate 4% a year against Canadian dollar?

AX RESEARCH MEMO: U.S. TAX COURT ASSIGNMENT INSTRUCTIONS OVERVIEWFor this assignment, you will be submitting a tax research memo regarding the scenario detailed below. The memo will be due by 11:59 p.m. (ET) on Friday.

INSTRUCTIONS

The memo should be submitted in the form of a Microsoft Word document, using only the template provided, and labeled as follows: lastname_memoTax Court.doc. The Relevant Facts, Specific Issues, and Conclusions sections of the memo should be thorough but concise. The key portion of the memo will be the Support section, which should be properly supported by appropriate regulation citations (be specific with section, number, paragraph, and subparagraph as applicable).

As this is a memo, and not a formal writing assignment, current edition APA format is not required. Furthermore, there is no need to submit a title page or research page. Just substitute “Your Firm” at the top of the memo with your full name.Prepare (in good form) a research memorandum to the file.

SCENARIO: Robert Jones has just rendered service for a taxpayer as an expert witness in a case heard by the U. S. Tax Court. The taxpayer is requesting reimbursement for Jones’ fees and for those amounts paid to her attorney in presenting the case. Jones’ billing rate for this type of engagement is $500 per hour, the market rate for such services in his city, plus out- of- pocket expenses (e. g., auto mileage, computer charges). How much of Jones’ fee will the taxpayer recover?

Note: Your assignment will be checked for originality via the Turnitin plagiarism tool.

CASE-STUDY – Individual Assignment

Myte-bee Ltd, a public limited company, is a leading support services company which focuses on the building industry. The company would like advice on how to treat certain items under IAS 19 Employee benefits. The company operates the Myte-bee Ltd Pension Plan B which commenced on 1 November 20X6 and the Myte-bee Ltd Pension Plan A, which was closed to new entrants from 31 October 20X6, but which was open to future service accrual for the employees already in the scheme. The assets of the schemes are held separately from those of the company in funds under the control of trustees. The following information relates to the two schemes.

Myte-bee Ltd Pension Plan A

The terms of the plan are as follows.

• Employees contribute 6% of their salaries to the plan.
• Myte-bee Ltd contributes, currently, the same amount to the plan for the benefit of the employees.
• On retirement, employees are guaranteed a pension which is based upon the number of year’s service with the company and their final salary.

Myte-bee Ltd Pension Plan B

Under the terms of the plan, Myte-bee Ltd does not guarantee any return on the contributions paid into the fund. The company’s legal and constructive obligation is limited to the amount that is contributed to the fund.

1. Discusses the nature of and differences between a defined contribution plan and a defined benefit with specific reference to the company’s two schemes. (20 marks)

1. The overall actuarial assumptions used must be unbiased and mutually compatible, and represent the best estimate of the variables determining the ultimate post-employment benefit cost. Discuss five (5) Actuarial assumptions used in measurement of a defined benefit liability or asset. (10 marks)

1. Do an analysis on any recent pension reforms which has been implemented and currently being undertaken for the public sector, private sector, hotel industry and self-employed individuals. (10 marks)

See attachment

Instructions

Cookie Creations (Chapter 18)

This assignment is a continuation of the Cookie Creations case study.

For this assignment, you will apply what you have learned from Chapter 18 as an introduction to the financial analysis. This assignment will allow you to practice what you have learned so far.

Natalie and Curtis have comparative balance sheets and income statements for Cookie & Coffee Creations, Inc. They have been told that they can use these financial statements to prepare horizontal and vertical analyses, to calculate financial ratios, to analyze how their business is doing, and to make some decisions they have been considering. Below, you are provided with the balance sheet and income statement of Cookie & Coffee Creations Inc. for its first year of operations; the year ended October 31, 2021. Review the calculations below, and then review the additional case information to calculate the ratios.

Review the additional case information below.

Natalie and Curtis are thinking about borrowing an additional $20,000 to buy more equipment. The loan would be repaid over a 4-year period. The terms of the loan provide for equal semi-annual installment payments of $2,500 on May 1 and November 1 of each year, plus interest of 5% on the outstanding balance. Dividends on preferred stock were $1,400. Since this is the first year of operations and the beginning balances are zero, use the ending balance as the average balance where appropriate.

Complete the tasks listed below.

1. Calculate the following ratios:
   1. current ratio,
   2. accounts receivable turnover,
   3. inventory turnover,
   4. debt to assets ratio,
   5. times interest earned,
   6. gross profit rate,
   7. profit margin,
   8. asset turnover,
   9. return on assets, and
   10. return on common stockholders’ equity.

1. Comment on your findings from item “a.”
2. Based on your analysis in items “a” and “b”, do you think a bank would lend Cookie & Coffee Creations Inc. $20,000 to buy the additional equipment? Explain your reasoning.
3. What alternatives could Cookie & Coffee Creations Inc. consider instead of bank financing?

Complete your calculations for item “a” in either an Excel spreadsheet or a Word document. If you complete item “a” in an Excel spreadsheet, complete items “b–d” in a Word document, and submit the Excel spreadsheet and the Word document in Blackboard. If you complete items “a–d” in a Word document, submit your calculations to item “a” and your responses for items “b–d” in a single Word document in Blackboard. Your total submission should be a minimum of two pages in length, including your calculations. Include at least two references. Adhere to APA Style when creating citations and references for this assignment.