Describe the journal entry for a stock dividend on common stock (which has a par value). Be sure to address the difference between a small and large stock dividend with regard to amounts used to adjust retained earnings. Since you are describing the journal entry, remember to address what accounts are used and any corresponding debits and credits.

explain any five functional areas of planning and staffing related to entrepreneurship.

Enterprise Risk Management (ERM) is directly related to auditing. Describe the relationship between ERM and auditing. Why is ERM important to an organization?  

The following balances were taken from the books of Alonzo Corp. on December 31, 2017. Interest revenue $86,000 Accumulated depreciation—equipment $40,000 Cash 51,000 Accumulated depreciation—buildings 28,000 Sales revenue 1,380,000 Notes receivable 155,000 Accounts receivable 150,000 Selling expenses 194,000 Prepaid insurance 20,000 Accounts payable 170,000 Sales returns and allowances 150,000 Bonds payable 100,000 Allowance for doubtful accounts 7,000 Administrative and general expenses 97,000 Sales discounts 45,000 Accrued liabilities 32,000 Land 100,000 Interest expense 60,000 Equipment 200,000 Notes payable 100,000 Buildings 140,000 Loss from earthquake damage 150,000 Cost of goods sold 621,000 Common stock 500,000 Retained earnings 21,000 Assume the total effective tax rate on all items is 34%. Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (Round earnings per share to 2 decimal places, e.g. 1.48.)

Spicewood Stables Inc. was established in Austin, Texas, on April 1, 2019. The company provides stables, care for animals and grounds for riding and showing horses. The following transactions are provided for your review:

1. Received contributions from five investors of $50,000 in cash ($10,000 each), building (valued at $100,000), land (valued at $60,000) and supplies (valued at $2,000). Issued stock (without paid-in capital).
2. Built a small barn for $42,000. The company paid half the amount in cash on April 1, 2019 and signed a three-year note payable for the balance.
3. Provided $15,260 in animal care services for customers, all on credit.
4. Rented stables to customers for April, received cash of $13,200.
5. Received from a customer $1,500 in cash to board her horse in May, June and July.
6. Purchased supplies on account for $3,210 to be used in the summer.
7. Paid $840 in cash for water utilities incurred in the month.
8. Paid $1,700 in accounts payable for previous purchases.
1. Received $1,000 in cash from customers on accounts receivable.
10. Paid $4,000 in cash for wages to employees who worked during the month.
11. At the end of the month, purchased a two-year insurance policy for $3,600 cash.
50. Received an electric utility bill for $1,200 for usage in April; the bill will be paid next month.
1000. Declared and paid $100 cash dividend to each of the five investors at the end of the month.

• Record in the T-accounts the effects of each transaction for Spicewood Stables in April 2019, referring each transaction in the accounts with the transaction letter. Compute and show the unadjusted ending balances in the T-accounts.

Read the scenario below and answer the questions that follow in your role as a member of the senior management team at Oakwood. You are reviewing budgets and actual results for the month of April for the various business activities and today, you are focusing on Golf Cart Rentals. In the recent past, there has been some tension between the management of Golf Cart Rentals and Golf Course Operations, so some information about Golf Course Operations is included below.

About Oakwood

Oakwood is a resort hotel with tennis courts, swimming pools, three golf courses, restaurants, and many other fine amenities. The resort’s management structure is highly decentralized because each business activity is quite different and requires a different set of managerial skills, experience, and staffing. For example, being a good hotel dining room manager requires a completely different set of skills and experiences than being a good golf course pro shop manager. Oakwood believes that the decentralized structure is a key success factor in its strategy and tries to operate every one of its business activities as a profit center unless the activity does not have a measurable revenue stream. Those activities are managed as cost centers. Two of the most important activities in Golf Division are Golf Course Operations and Golf Cart Rentals. Each of these activities are managed as profit centers because each has an identifiable revenue stream and each requires a specific set of managerial skills to be successful.

Golf Cart Rentals

Oakwood customers who wish to play golf may either rent a cart or walk the course. They only pay a cart rental fee if they rent a cart. The Golf Cart Rentals profit center’s revenue each month is the total of the cart rental fees. Jay MacDonald (“Mac”) is the manager of the Golf Cart Rentals profit center and he supervises all business activities related to rentals of motorized golf carts at Oakwood. The carts are leased from various vendors and Mac negotiates these leases. Most vendors like to lease for two or three years, but one of Mac’s valuable skills is his ability to make good deals with golf cart suppliers. His crafty negotiations have given Oakwood a portfolio of lease rental terms ranging from three months to three years at very good rates.

Mac manages the golf cart maintenance crew that keeps the 200-cart fleet clean, properly fueled with oil and gas, and that makes minor repairs on the carts. The carts are solidly built and rarely need major repairs as long as they are properly maintained, and Mac does a good job of hiring and keeping skilled mechanics who excel at maintenance and minor repairs. He always says that paying a little more is worth it to get hard-working, competent workers, and the golf cart maintenance crew does have a higher average pay rate than most of the other Golf Division employees. As a result of this excellent maintenance program, the few carts that do need major repairs are usually old and about to go off-lease anyway. So, instead of repairing them, Mac just takes them out of service and replaces them in the next round of leasing. The accounting department records the salaries and related costs (payroll taxes and benefits) in the Labor account.

Two years ago, Mac installed large underground tanks (one for gas and one for oil) so Oakwood could buy in bulk and get quantity discounts. This has worked out well and has reduced oil and gas costs so much that the cost of the tanks and installation will be recaptured at the end of this year. The distributor’s tanker trucks, one for oil and one for gas, stop by every three or four weeks to refill the tanks. The accounting department records these costs in the Gas and oil expense account when they get the invoice for each delivery, usually a few days after the delivery.

Golf Course Operations

Sandra Bunker (“Sandy”) is the manager of Golf Course Operations. A major part of her job is supervising golf course maintenance and repair. A resort golf course must be in excellent condition to draw resort guests and others to the course. Thus, the condition of the course is an important part of the entire resort’s reputation. Oakwood has had several marketing research studies done over the years and all of them confirm that when a resort’s golf course falls into poor condition, everything from dining room revenue to room rental revenue suffers.

Golf Course Operations is a profit center and its revenue is the total of greens fees collected from resort guests and others to play on the golf courses. Costs charged to Golf Course Operations include grounds crew salaries and benefits, the cost of outsourced services such as planting and trimming the trees and bushes that line the fairways, and the cost of supplies such as fertilizer, grass seed, bedding flowers, sand, and various kinds of mulch. The grounds crew workers are mostly unskilled laborers who are generally paid just a little more than the minimum wage.

Weather conditions are an important factor in the overall profitability of any golf course. Rainy or cold weather will reduce the number of golfers who play the course, but even more important is that the condition of the course can be affected by how it is used when it has become wet. If rain continues for several days or the rain amounts are unusually high, the course can become waterlogged. Operating golf carts on a waterlogged course can do serious and permanent damage to the turf. To prevent permanent turf damage, Sandy can choose to close the course to golf carts entirely, or she can have the grounds crew restrict golf cart use by placing rope fences around the wet areas. A course that is closed to carts can still generate greens fees paid by golfers who are willing to walk the course. On rare occasions, the course will become so wet that Sandy will close the course to all golfers. Sandy determines whether each course will be open or closed due to weather conditions on any particular day. She also determines whether players can use golf carts. As you might imagine, Sandy does hear from Mac on days when she prohibits golf carts, but Sandy does have the final say in that decision since the condition of the golf courses is, ultimately, her responsibility. Sandy is on the courses each morning at dawn supervising the maintenance crews, so she is in a good position to decide whether to rope off just the wettest parts of the course and allow carts, prohibit carts, or close the course entirely.

A Rainy April at Oakwood

This April, golf cart operating profits were extremely low, amounting to a mere 49% of budgeted profits. When you discussed this matter with Mac, he explained that the poor results were caused by the unusually heavy rains in April. He complained that Sandy had closed entire courses to carts on several days when only parts of the courses were too wet to tolerate the carts safely. He argued that, on those days, guests could play the courses (and generate revenue for Sandy), but they could not drive carts, which shut his revenue off completely. Note: Guests are not permitted to drive carts in roped off areas of a golf course; but they can rent carts and drive them elsewhere on the course. If an entire course is roped off, guests cannot rent carts at all when playing that course on that day.

Mac said he had overheard Sandy’s grounds crew members talking among themselves on the days that entire courses were closed to carts. He had heard the crew members saying that they were too busy to rope off just the wet areas and that they had gone ahead and closed entire courses to cart traffic instead because it was easier to do that than to spend time roping off the wet areas. You could see that Mac was not happy about this. In your conversation with Mac, for example, he compared the grounds crew unfavorably to his golf cart maintenance crew, noting that his crew were all hard working employees and not “lazy” like the grounds crew.

When you met with both Mac and Sandy, you learned that they communicate regularly and often share the same opinions about the operation of Oakwood as a whole. Your impression is that they generally work together in a positive and cooperative manner to resolve issues that arise. But you do see that the decisions Sandy makes about roping off the courses (or parts of the courses) are a consistent source of concern for Mac.

The resort’s controller, Ampzilla Forkwort, developed a flexible budget analysis for April that she says will help you better analyze Mac’s results. Her analysis for the month appears below (F indicates a favorable variance, U indicates an unfavorable variance):

Requirements:

Your solution should be written in single-spaced text, included in one Microsoft Word or RTF document, and should address specifically the following four questions (you do not need to reprint the questions in your solution, but do number your answers):

1. Most accountants would argue that a flexible budget is good to use when calculating variances on variable costs (such as gas and oil). In 100 words or less, using the knowledge about accounting you have gained in this course and the facts presented in the case narrative, identify and describe the most likely cause of the $900 unfavorable variance on gas and oil expense and explain the basis for your belief.

2. Categorize Mac’s performance for April using this rating scheme: “Really Great,” “Pretty Much OK,” or “Really Awful.” In 100-200 words, explain why you ranked him as you did.

3. Assume you decide to start measuring Mac’s performance using the flexible budget (experienced businesspersons with MBAs would call that “flexing out the volume effect”). In 100-200 words, describe the most likely effects (intended and unintended) of using this measure on the quality of the cart rental fleet and the profitability of the cart rental operation in the future. In your answer, describe any assumptions you make and be sure to state clear, logical arguments that lead to your conclusions.

4. A conflict between the interests of Mac and Sandy might exist in this situation. One might argue that having each of these managers achieve their goals separately might not lead to the best results for Oakwood as a whole. In 100-200 words, describe any conflict that exists here and suggest possible solutions that would better align the goals of these managers with the overall goals of Oakwood. Remember that Sandy and Mac communicate regularly and work out most issues in a friendly way, (other than the issue of closing courses to carts because of weather-related conditions) so suggesting they communicate better is not going to be a solution here. Also, remember that Oakwood has a strong policy of decentralization and that Mac and Sandy each have valuable knowledge about their specific operations that Oakwood wants to make sure they use effectively in managing their respective operations.

answer part b only

(dont post the screenshot of the answere kindly post it in text form)

Required:

1. Please make a cash budget for the months of January, February and March 1999 based on the data for:

View Receivable Trend:

• 30% of Sales are collected in the month of sale
• 30% of Sales are collected after the month of sale
• 40% of Sales are collected two months after the sale is made

View Payable Trend:

• 10% of Purchases are paid for in the month of purchase
• 35% of Purchases are paid after the month of purchase
• 55% of Purchases are paid two months after the purchase is made

Additional Information:

• Rent and Insurance expense were prepaid at the end of 1998
• All other expenses are paid for in the month they were incurred
• November Sales = 195,000
• November Purchases = 100,000
• December Sales = 250,000
• December Purchases = 165,000
• Please see attached Budgeted Income Statement for 1st Quarter 1999

2. Being a CFO of the company, interpret the importance budget in strategic and operational planning of the company (Word limit Max 150-200)

Write a 525- to 700-word summary. Research a recent article on auditing acquisitions, payments, property plant and equipment (fixed assets), notes payable, or owner's equity. Apply what you learn to your future or current job.

Tudor Company acquired $500,000 of Carr Corporation bonds for $487,706.69 on January 1, 2018. The bonds carry an 11% stated interest rate, pay interest semiannually on January 1 and July 1, were issued to yield 12%, and are due January 1, 2021.

Required:

This is the only one I am having trouble with. Its the preparing the investment income and discount amortization schedule using straight-line method.

1. Standard Costs, Decomposition of Budget Variances, Direct Materials and Direct Labor

   Haversham Corporation produces dress shirts. The company uses a standard costing system and has set the following standards for direct materials and direct labor (for one shirt):

   Fabric (1.5 yds. @ $2.80)	$4.20
   Direct labor (1.1 hr. @ $20)	22.00
   Total prime cost	$26.20

   During the year, Haversham produced 9,900 shirts. The actual fabric purchased was 14,750 yards at $2.74 per yard. There were no beginning or ending inventories of fabric. Actual direct labor was 11,010 hours at $19.50 per hour.

   Required:

   1. Compute the costs of fabric and direct labor that should have been incurred for the production of 9,900 shirts.

   Direct materials	$fill in the blank 0e3850fbb03b03f_1
   Direct labor	$fill in the blank 0e3850fbb03b03f_2

   2. Compute the total budget variances for direct materials and direct labor.

   Direct materials	$fill in the blank 0e3850fbb03b03f_3
   Direct labor	fill in the blank 0e3850fbb03b03f_5

   3. Break down the total budget variance for direct materials into a price variance and a usage variance.

   Materials Price Variance	$fill in the blank 0e3850fbb03b03f_7
   Materials Usage Variance	$fill in the blank 0e3850fbb03b03f_9

   Prepare the journal entries associated with these variances. If an amount box does not require an entry, leave it blank or enter "0".

   Price Variance		fill in the blank 521dbb03efc2fe6_2	fill in the blank 521dbb03efc2fe6_3
   		fill in the blank 521dbb03efc2fe6_5	fill in the blank 521dbb03efc2fe6_6
   		fill in the blank 521dbb03efc2fe6_8	fill in the blank 521dbb03efc2fe6_9
   Usage Variance		fill in the blank 521dbb03efc2fe6_11	fill in the blank 521dbb03efc2fe6_12
   		fill in the blank 521dbb03efc2fe6_14	fill in the blank 521dbb03efc2fe6_15
   		fill in the blank 521dbb03efc2fe6_17	fill in the blank 521dbb03efc2fe6_18

   4. Break down the total budget variance for direct labor into a rate variance and an efficiency variance.

   Labor Rate Variance	$fill in the blank 65c423fcffa2f7f_1
   Labor Efficiency Variance	$fill in the blank 65c423fcffa2f7f_3

   Prepare the journal entries associated with these variances. If an amount box does not require an entry, leave it blank or enter "0".

   		fill in the blank ea46ee0cb02afba_2	fill in the blank ea46ee0cb02afba_3
   		fill in the blank ea46ee0cb02afba_5	fill in the blank ea46ee0cb02afba_6
   		fill in the blank ea46ee0cb02afba_8	fill in the blank ea46ee0cb02afba_9
   		fill in the blank ea46ee0cb02afba_11	fill in the blank ea46ee0cb02afba_12

please answer all

Crane Limited purchased a machine on account on April 2, 2018, at an invoice price of $360,090. On April 4, it paid $1,850 for delivery of the machine. A one-year, $4,250 insurance policy on the machine was purchased on April 5. On April 18, Crane paid $8,280 for installation and testing of the machine. The machine was ready for use on April 30.

Crane estimates the machine’s useful life will be five years or 6,018 units with a residual value of $85,700. Assume the machine produces the following numbers of units each year: 859 units in 2018; 1,504 units in 2019; 1,312 units in 2020; 1,267 units in 2021; and 1,076 units in 2022. Crane has a December 31 year end.

1. determine the cost of the machine

2. calculate

using a. straight line method, b. double diminishing method, c. units of production method

3. Which method causes net income to be lower in the early years of the asset’s life?

Problem 15-1

On January 5, 2017, Crane Corporation received a charter granting the right to issue 5,400 shares of $100 par value, 7% cumulative and nonparticipating preferred stock, and 46,800 shares of $10 par value common stock. It then completed these transactions.

Prepare the stockholders’ equity section of Crane Corporation’s balance sheet as of December 31, 2017. (Enter account name only and do not provide descriptive information.)