Assume that the Chan Company (see above) had two payrolls in the month of July, all identical to the one shown above. What amount would the company send to the CRA in August to meet its legal obligation for payroll remittance? View Solution:
Assume that the Chan Company see above had two payrolls
The income statement for Vermont Communications follows. Assume Vermont Communications signed a 3-month, 3%, $6,000 note on June 1, 2018, and that this was the only note payable for the company Click the icon to view the income statement.) Requirements 1. Fill in the missing information for Vermont's year ended July 31, 2018, income statement. Round to the nearest dollar. 2. Compute the times-interest-earned ratio for the company. Round to two decimals. Requirement 1. Fill in the missing information for Vermont's year ended July 31, 2018, income statement. Round to the nearest dollar. (Use a 12-month year for interest computations. Use a minus sign or parentheses to enter other expenses.) Vermont Communications Income Statement Year Ended July 31, 2018 Net Sales Revenue $ 26,500 (12,200) 14,300 $ 690 1,550 Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Expense (2.240) 12,060 The income statement for Vermont Communications follows. Assume Vermont Communications signed a 3-month, 3% (Click the icon to view the income statement.) Requirements 1. Fill in the missing information for Vermont's year ended July 31, 2018, income statement. Round to the nearest 2. Compute the times-interest-earned ratio for the company. Round to two decimals. Vermont Communications Income Statement Year Ended July 31, 2018 Net Sales Revenue $ Net Sales Revenue 26,500 (12,200) 26,500 12,200 14,300 14,300 $ 690 1,550 Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Expense 690 1,550 2,240 (2,240) 12,060 12,060 Total Other Income and (Expenses) Interest Expense Total Other Income and (Expenses) Net Income before Income Tax Expense Income Tax Expense Net Income before Income Tax Expense Income Tax Expense (2,410) Net Income Net Income
DISCUSSION QUESTIONS AND EXERCISES 1. SRC Inc. buys shrink wrap in 1,000-pound rolls. Annual demand is 3,500 roll The cost per roll is $1,000, and the annual holding cost is 25 percent of the co Each order costs $50. a. How many rolls should SRC order at a time? b. What is the economic time between orders? Complete the following MRP record. The lot size is a multiple of 60 with a holing cost of $300 per unit per period. What is the period with the largest holding cost for both average and end item values? (average/end) Lot size: 60x Period 4 290 7 GR 5 125 6 80 90 125 150 60 NR POR Period 4/Period 2 Period 1/Period 2 Period 2/Period 2 Period 4/Period 7
only answer even numbers please. #18,20,22,24,26
The following waiters or waitresses make $3.25 per hour plus tips. Given their hours worked and their daily tips, find their gross pay for the week. Hours 40 30 37.5 32.25 M $50.75 $19.50 17. Juan Paula 19. Marcus . 20. Sheree T W Th F S $46.50 $38.75 $81.80 $63.45 $29.65 $30.40 $52.50 $49.00 $36.75 $28.45 $32.25 $58.90 $60.20 $29.85 $30.75 $22 $37.50 $33.95 Use the graduated piecework scale to find the weekly wages for the given numbers of pieces. 21. 401 22. 319 2 3. 470 Use the graduated commission scale to find the monthly commissions for sales of 24. $25,500 25. $31,590 26. $14,250
1. Recently, the controller of a retail company just had a $50,000 request to implement an ABC system quickly turned down. A senior vice president, in rejecting the request, noted, “Given a choice, I will always prefer a $50,000 investment in improving things a customer sees or experiences, such as our shelves or our store layout. How does a customer benefit by our spending $50,000 on a supposedly better accounting system?” Based on reasons given for implementing an ABC system, how should the controller respond?
Reply to at least two classmates’ posts. Although there are no requirements to use a number of words, your response to your classmate’s discussion should be substantive and add value to the discussion (i.e. reflecting on their response, asking follow up-questions, etc.).
“Texting” or “chat” language is not appropriate when communicating within the discussions.
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2. Responsibility budget focuses on holding departments accountable for spending. In the case presented, determine who should be held accountable for the breakdown and the additional cost that Paula has to pay. Also discuss how creating responsibility centers would hold the appropriate manager accountable for over-spending in the following scenario.
Paula Beane owns a restaurant franchise that is part of a chain of southern restaurants. One of the chain’s popular breakfast items is biscuits and gravy. Central Warehouse makes and freezes the biscuit dough, which it then sells to the franchise stores where it is thawed and baked in the individual stores by the cook. Each franchise also has a purchasing agent who orders the biscuits (and other items) based on expected demand. One of the freezers in Central Warehouse breaks down and biscuit production is reduced by 25% for 3 days. During those 3 days, Paula’s franchise runs out of biscuits but demand does not slow down. Paula’s franchise cook, Betty Baker, sends one of the kitchen helpers to the local grocery store to buy refrigerated ready-to-bake biscuits. Although the customers are kept happy, the refrigerated biscuits cost Paula’s franchise three times the cost of the Central Warehouse frozen biscuits, and the franchise loses money on this item for those 3 days. Propose alternatives in order for the restaurant to reduce operating costs.
Granny Camey Associates surveys American eating habits. The company's accounts include Land, Buildings, Office Equipment, and Communication Equipment, with a separate Accumulated Depreciation account for each depreciable asset. During 2018, Granny Carney Associates completed the following transactions: (Click the icon to view the transactions.) Record the transactions in the journal of Granny Carney Associates, (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Jan. 1: Purchased office equipment, $111,000. Paid $80,000 cash and financed the remainder with a note payable. (Record a single compound joumal entry.) Date Accounts and Explanation Debit Credit 0 More Info Jan. 1 Jan. 1 Purchased office equipment, S111,000. Paid $80,000 cash and financed the remainder with a note payable. Apr. 1 Acquired land and communication equipment in a lump-sum purchase. Total cost was $410,000 paid in cash. An independent appraisal valued the land at $322,875 and the communication equipment at $107,625. Sep. 1 Sold a building that cost $600,000 (accumulated depreciation of $245,000 through December 31 of the preceding year). Granny Camey Associates received $430,000 cash from the sale of the building. Depreciation is computed on a straight-line basis. The building has a 40-year useful life and a residual value of $45,000. Dec. 31 Recorded depreciation as follows: Communication equipment is depreciated by the straight-line method over a five-year life with zero residual value. Office equipment is depreciated using the double-declining-balance method over five years with a $6,000 residual value.
Discuss the identification and composition of incomes of the chosen company. Introduce the recognition and measurement requirements of incomes used by the chosen company with supported documents. (500 words)
Explain what is GAAP and why GAAP is crucial for financial reporting and business practices in general. (500 words)
Provide one example to illustrate the implementation of GAAP in the annual report of your chosen company, and explain with supporting references.
(500 words) Give one example when GAAP isn’t used by your chosen company and explain how this will impact on the financial position, performance and valuation of the company from the perspective of investors. (500 words)
Hartford Today Publishers completed the following investment transactions during 2018 and 2019: (Click the icon to view the transactions.) Requirements 1. Journalize Hartford Today's investment transactions. Explanations are not required. 2. On December 31, 2018, how would the Lovely stock be classified and at what value would it be reported on the balance sheet? Requirement 1. Journalize Hartford's investment transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. If no entry is required, select “No entry required” on the first line of the Accounts column and leave the remaining cells blank.) Dec. 6, 2018: Purchased 2,000 shares of Lovely stock at a price of $27.00 per share, intending to sell the investment next month. Hartford did not have significant influence over Lovely. Date Accounts Debit Credit More Info 2018 Dec. 6 2018 Dec. 6 Purchased 2,000 shares of Lovely stock at a price of $27.00 per share, intending to sell the investment next month. Hartford did not have significant influence over Lovely. 23 Received a cash dividend of $1.70 per share on the Lovely stock. 31 Adjusted the investrient to ils market value of $22.00 per share. 2019 Jan. 27 Sold the Lovely stock for $26.30 per share. Print Print Done
Description: The dissertation should cover ways, strategies, possibilities of russian restaurant bussines to open its subsidiaries abroad. And will be based on the
example of the following restaurant group: Novikov Group http://novikovgroup.ru/. There are some more chains that could be mentioned Ginza Project,
Goodman steakhouse. The dissertation will include interview with the CEO of Novikov Group which actually can be collected by me.
Question 2
Draft a procedure in the following table to ensure that the company you work for remains compliant with legislation for GST, PAYG and Superannuation.
Your procedure needs to include:
a) Use of technology
b) Professional presentation – spelling, grammar, formatting
c) Clear, industry relevant language and terminology
d) Referencing as required
e) Naming convention and version control
f) Storing, security and uploading of procedure
Use the following table to collect information for your procedure and find or create a suitable template using the headings provided to complete it
1. Purpose/Overview
– what is the reason why you have the procedure
2. Audience
– who is it being prepared for? Who has an interest in this procedure?
3. Process
What steps are we going to take to stay compliant? How are you going to monitor changes in the legislation?
4. Timeline for implementation and review
– when the process is going to happen, when should it be complete
5. Responsibilities/Reporting Requirements
– Who is responsible for monitoring changes in legislation? Who to report to when monitoring has been completed? Who do you advise if there are changes to the legislation (the person is responsible to make the changes to your policies etc. if legislation changes)?
6. Legislative Basis
– Name the acts. E.g. GST – A New Tax System (Goods and Services Act) (1999).
7. Resources
– where do you get the information from? Where do you find if there has been a change?
8. Definitions
– explain at least one term within the document. E.g. GST – Goods and Services Tax.
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