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Task Questions 1. Requires only written answers and is based on B124 Book 1, Chapters 1, 2, 3 and 5 and Book 2, Chapters 1 and 2. (As preparation for this question, as well as all other questions in your three TMAs that require application of knowledge of key accounting terms, you should become familiar with using the Accounting Glossary under ‘Resources’ on the B124 21J website. You may use any appropriate search function, but one ...
Part A 1) Users of accounting information The textbook, Smart, Awan & Baxter, p. 21 lists the following seven stakeholders who have an interest in accounting information:• owners and investors• managers• creditors and lenders• employees• the government• unions• the general public. a) Explain the meaning of ‘stakeholder’. b) For each of the first five listed stakeholders above (i.e. excluding u...
Task: Answer any FOUR questions from Section A. Question 1 Pudding Ltd has two group companies, Cream Ltd and Custard Ltd. The income statements for Pudding Ltd, Cream Ltd and Custard Ltd for the year ended 31 December 2019 are given as follows: Required:Prepare the consolidated income statement for Pudding Ltd for the year ended 31 December 2019, showing retained earnings brought forward, dividend expense and retained earnings carried forwa...
Task: Relationship of Assignment to Learning Outcomes (Refer Course Guide). L.O. 2. Demonstrate knowledge of generally accepted accounting practices.Although these are projected statements, they are prepared on the same basis as historical statements. Some of the transactions will help you understand the impact of accounting policies such as depreciation and accrual accounting with the latter especially evident when comparing the Income Statemen...
This project requires you to evaluate a PC-based accounting system to see how the system handles recording transactions, collecting data, and generating reports and information. The accounting system you use is up to you. Several suggestions are given below. STEP 1. Select the Software Package QuickBooks STEP 2. Explore the Software Check to see if the application has a tutorial that demonstrates some of the features of the application, a...
Task: PART ONE (60 MARKS) Question I (30 marks) Salma started Bag Zone in Riverside with the goal of providing good quality handbags. Unique designs and utilizing uncommon materials for the making of the handbags is her competitive advantage, and completed products can be wholesaled to fashion retailers or placed on consignment in local retail shops. Additionally, the handbags can also be sold directly to consumers by displaying the products...
Questions:1. Explain how the principle of fiduciary duty works in a partnership relationship.2. Singh, Shah, Amaro and Brown in an accounting firm. Singh gave the other partners written notice that he was leaving the partnership on March 31. The other partners purchased Singh’s interest and agreed that he would not be liable for any future partnership debts. At the end of May, it was discovered that Shah had, during the previous month...
Part A1) Users of accounting informationThe textbook, Smart, Awan & Baxter, p. 21 lists the following stakeholders who have an interest in accounting information:owners and investorsmanagerscreditors and lendersemployeesthe governmenta) Explain the meaning of ‘stakeholder’.b) For each of the five listed stakeholders above, state:i) a specific decision that the stakeholder would make, that would require accounting information befor...
Car To ons Audio Inc. Car Toons Audio Inc. (CTAI) is a young company that recently completed its initial public offering. The company designs and develops leading-edge car stereo equipment. including MP4 compatible decks, speakers, amplifiers, and subwoofers. The company is investing heavily in research and development. In order to reduce strain on cash, the manage-ment team is compensated mostly through share-based compensation in the current ye...
Part A Download annual report of EXXON MOBILfor the year 2017. You can access it from the URL Or MDIS Black Board. You have been appointed as a consultant to prepare a report for consideration by the Board of Directors on details of and changes over two years to the ratio relevant to the shareholders namely Return on Owners Equity (ROOE). Required: i) Using Du Pont Analysis, compute the ratios for two consecutive years covered by the ann...
Questions: Part A Research (50 marks) Locate the latest annual report of Air New Zealand Limited (AIR) and Fisher & Paykel Healthcare Corporation Ltd (FPH) on the website. You are required to identify and state the items listed below. IF any item is not included in the financial statements, this should be clearly indicated in your assignment. You are also required to write a short summary of the information you gathered about Intang...
Questions: Practice the Sales Process by completing the Sales and Distribution (SD) Case Study lab exercise in its entirety and show proof of work by (Strictly do NOT provide other proof of work uncalled for) (i) What is the purpose of step 7, 10, 13 respectively? (ii) After Step 17, capture a screen shot of the Review Document Flow for that would be generated, similar to Screenshot Q1(b) shown belo...
Question: Intoduction: This Study Guide is designed to provide you with details of this module; the learning outcomes; delivery and assessment arrangements. The Study Guide consists of 6 parts. Part 1 gives background details to the subject area are provided and the broad aims of the module are set out. Part 2 consists of the module outline. In this part, the (a) module learning outcomes, (b) the themes and topics to be explored are e...
Create a pivot table for the variables ‘department’ and ‘left’ (youcan use the table created in question 1f if you wish) and use it to answer thefollowing questions. You do not need to include the table in your answer script.i. Of those who left the workplace, what percentage worked in accounting? ii. Of those who worked in marketing, what percentage left the workplace? iii. What percentage of employees left the workplac...
Questions: Entrepreneur Interview Assignment1. You are to identify an entrepreneur to interview. The person should have started and currently manage a small business (less than 100 employees). This person may not be a member of your family. Let the person know you are interviewing them for a college class on Small Business Management. Do Not Use The Same Business For This Paper As Your Small Business Summary Assignment 2. You are to conduct a...
Questions LO 3 Analyze business internal accounting information to evaluate working capital management performance of a business Task 1 (50 marks) Jason Co is an online computer trader which made annual sales of $15,000,000 last year. The most recent financial statement indicates the company owns $2,466,000 trade receivables, $2,220,000 trade payables and $3,000,000 of overdraft. The customers pay within 60 days on average. In order to boos...
Eastjet Airlines Eastjet Airlines (EJA) is a regional airline that services most cities in the Maritimes and Eastern Canada. The company began in 2007 when three friends felt that the Maritimes was an underserviced market. Joe, Jack, and Jamal each own one third of all the issued common shares and exercise equal control over the company. After their start-up phase, management began to expand its routes. Currently, EJA offers only short-haul fligh...
Question: Section A In this Section, you are required to answer ALL of the questions. The internal rate of return is defined as the: maximum rate of return a firm expects to earn on a project. rate of return a project will generate if the project in financed solely with internal funds. discount rate that equates the net cash inflows of a project to zero. discount rate which causes the net present value of a project to equal zero. Qu...
Questions: General Instructions •This final assignment must be done individually. •This final assignment must be submitted online through EGSM LMS Presentation Of Final Assignment •You must include a cover page that lists your name, Student ID and the unit number and title. •Number all pages sequentially. •Any published material you refer to must be properly referenced (Harvard Referencing) and included in...
Task This assignment provides you with an opportunity to demonstrate the achievement of the following course learning outcomes: Implement audit plan strategies by evaluating sample programs for specific accounting cycles, and Demonstrate the use and impact of data analytics and current technological advances in auditing, as well as the impact the use of technology by businesses has in providing assurance. Expectations You are expected ...
Questions: Part AQuestion 1 Impairment of assets (9 Marks)I. Aero Ltd has determined that its aviation division is a cash–generating unit (CGU).Information as at 30th June 2020 is as follows:$Buildings – At cost 600,000Equipment – At cost 500,000Inventory 25,000Land 250,000Receivables 150,000Goodwill 90,000Total 1,615,000 Additional information:Buildings - Accumulated depreciation as at 30 June 2020: $100,000 Equi...
Questions 1. Choo Choo Inc. is a manufacturer of model trains. The company is considering the purchase of an industrial 3D printer, which will allow the firm to produce custom-made model trains for its high-end customers. The printer will cost $2,500,000, and it is expected to produce net cash flows of $600,000 per year for the next six years. Liquidation of the equipment will net the firm $350,000 in cash at the end of six years. Th...
Task Management Case Study- AD Lib Communication Background Information: Ad Lib Communication was founded in 1977 by its actual president, Mr. Charles Martin, under the name Martin Advertising Ltd. At that time, Mr. Martin was a young artist, full of creative ideas and ambitions. He had already realized then that advertising would become a crucial part of marketing and part of our every day life. Charles was a visionary and had big ...
Question 1 Jet Bhd has 8% convertible loan stocks that have a value of RM1,000 per unit. 1,000 units were issued at RM1,000 per unit on 1 July 2017. The loan stocks are convertible to ordinary shares or redeemable in cash at RM1,000 per unit in three years from the date of issue. The directors had decided to issue the convertible loan stocks because non-convertible loan stocks would have required an interest rate of 10%. The directors intend to ...
Task: 1) Hertz makes five adjustments (ignoring ‘Other adjustments’) to net income before including the changes in operating assets and liabilities. List each of these five items and briefly explain why each of these items is added (subtracted) from net income to calculate Net CashProvided by Operating Activities. 2) Did receivables increase or decrease from the end of 2011 to the end of 2012? Did accrued liabilities increase or decrease fr...
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