Pls do not handwritten for easy reading === ===

Question:-
CC Ltd, a company incorporated in Singapore with Dec 31 year ends, acquired a retail shop on 2 Jan 20x1 for $600,000 with the intention of renting it out. The property is leasehold with 20 years remaining on the lease. It has a zero residual value. On 1 Jul 20x1, CC Ltd rented out the retails shop to an unrelated company for a monthly rental of $8,000, payable at the end of each month. After 2 yrs, CC Ltd managed to terminate the lease with the existing tenant on 30 Jun 20x3. CC Ltd used the retail shop for its own operations from 1 Jul 20x3 onwards.
The market value of CC Ltd's retail shop was determined as follows:-
31 Dec 20x1: $800,000
31 Dec 20x2: $700,000
1 Jul 20x3 : $740,000

CC Ltd adopts the fair model under FRS 40 Investment Property and adopts the cost model under FRS 16 Property, Plant and equipment. CC Ltd depreciates all its assets on a straight-line where applicable.

Required:
Illustrate the accounting for the retail shop by preparing the journal entries(with journal narratives) to record the various events relating to CC Ltd's retail shop from 2 Jan 20x1 to 31 Dec 20x3. Please round your answer to the nearest dollar.

Walter's Inc. began operations on January 15, 2018, and had the following transactions in trading securities during 2018 and 2019:

March 1, 2018 Purchased 500 shares of Apex, Inc. common stock at $11 per share, plus a commission of $300

April 1, 2018 Purchased 1,000 shares of Basic Corp. preferred stock at $4 per share, plus a commission of $500.

June 1, 2018 Received dividends of $1 per share on the Apex stock and $2 per share on the Basic stock

December 31, 2018 Determined that the fair market values per share were $13 for the Apex sstock and $2 for the Basic stock.

February 15, 2019 Sold 500 shares of the Basic stock for $3 per share, less commissions of $200.

June 1, 2019 Received dividends of $1 per share on the Apex stock and $2 per share on the Basic stock

November 20, 2019 Purchased 800 share of Cargo, Inc. common stock for $7 per share, plus a commission of $400.

December 31, 2019 Determined that the fair market values per share were $14 for the Apex stock, $3 for the Basic stock, and $8 for the Cargo stock.

REQUIRED:

Prepare all of the journal entries required to account for Walter's transactions in the trading securities for the years 2018 and 2019.

assignment

Wanda wants all of her employees to be motivated to do a good job and continue the success of Salty Pawz, but there is only so much money she can shell out and still keep the business profitable. She begins to wonder if there aren’t ways she can motivate her employees without writing yet another check.

Recently she was asked to donate dog treats to the local Humane Society for a free rabies vaccination clinic they were holding at the high school. Wanda donated 100 bags of Chicken Cuties and even stopped by the event to see how it was going. When she arrived, she was surprised to see her friend Jamie there, happily greeting and signing in owners and their dogs. On the way home Wanda begins to think that perhaps there are ways that she can motivate her employees without paying them, but she doesn’t really know all that much about motivation theory. She turns to you once again for information and guidance.

Your Task

1. Select one of the motivation theories you studied in this module that you believe can be applied to the employees at Salty Pawz. Briefly explain the theory to Wanda and how it applies to her staff.
2. Using that theory, provide Wanda with 2–3 specific ways she can motivate her employees without money. Your suggestions should be specific and detailed enough that Wanda could implement your suggestions immediately.

Translation and Remeasurement of Depreciable Assets

Massmart, the second largest retailer in Africa, is a subsidiary of Wal-Mart Inc., a U.S. company. Massmart reports its accounts in its local currency, the rand (R). Wal-Mart’s fiscal year ends January 31. On February 1, 2018, Massmart reports facilities with original cost of R500 million and accumulated depreciation of R280 million in its noncurrent assets, as follows:

• Buildings acquired at a cost of R175 million when the exchange rate was $0.15/R, with accumulated depreciation of R100 million. The buildings are being depreciated on a straight-line basis over 25 years.

• Equipment acquired at a cost of R325 million when the exchange rate was $0.12/R, with accumulated depreciation of R180 million. The equipment is being depreciated on a straight-line basis over 10 years.

Additional exchange rates:

Massmart still holds these facilities at January 31, 2019.

Required

a. Assume that Massmart’s functional currency is the rand. Calculate Massmart’s translated facilities, at cost, and related accumulated depreciation, at January 31, 2019, and its translated depreciation expense for fiscal 2019.

b. Now assume that Massmart’s functional currency is the U.S. dollar. Calculate Massmart’s remeasured facilities, at cost, and related accumulated depreciation, at January 31, 2019, and its remeasured depreciation expense for fiscal 2019.

Enter answers using all zeros (do not abbreviate to millions or thousands).

1. Rose Company has a relevant range of production between 10,000 and 25,000 units. The following cost data represents average cost per unit for 15,000 units of production.

Using the cost data from Rose Company, answer the following questions:

A. If 10,000 units are produced, what is the variable cost per unit?

Variable cost per unit $

B. If 17,000 units are produced, what is the variable cost per unit?

Variable cost per unit $

C. If 21,000 units are produced, what are the total variable costs?

Total variable costs $

D. If 11,000 units are produced, what are the total variable costs?

Total variable costs $

E. If 20,000 units are produced, what are the total manufacturing overhead costs incurred?

Total manufacturing overhead costs $

F. If 24,000 units are produced, what are the total manufacturing overhead costs incurred?

Total manufacturing overhead costs $

G. If 20,000 units are produced, what are the per unit manufacturing overhead costs incurred? If required, round final answer to two decimal places.

Manufacturing overhead costs per unit $

H. If 25,000 units are produced, what are the per-unit manufacturing overhead costs incurred? If required, round final answer to two decimal places.

Manufacturing overhead costs per unit $

Pls do not handwritten for easy reading === ===
Question:-
1a) The Singapore "Conceptual Framework for Financial Reporting" on qualitative characteristics deals with the attributes that make financial information useful.
Explain the following 2 qualitative characteristics: (i) Relevance and (ii) Verifiability
1b)Under FRS 115 Revenue from contracts with customers an entity recognizes revenue over time when it transfers control of a good or service over time and, therefore, satisfies a performance obligation over time. For measuring progress towards complete satisfaction of a performance obligation over time, the entity can choose to use the output or input method. Explain and illustrate with suitable examples of what these methods are.

4. Process Costing – Equivalent units of production, Weighted Average Method (7pts): The Lost Moon of Poosh, Inc. is a sports drink manufacturer who uses process costing to account for its production costs each period. The Lost Moon of Poosh uses two departments in the production of its product – Blending and Bottling. The following is information obtained for the Blending department for the month of January:

            Work in process (WIP) inventory, beginning balance:

                        Units in beginning WIP: 19,000

                        DM costs in beginning WIP: $91,000

                        Conversion Costs in beginning WIP: $49,400

            Units started / costs incurred during January:

                        Units started: 65,700

                        DM costs incurred: $167,500

                        Conversion Costs incurred: $85,900

At the end of January, as of January 31^st, there were 17,300 units left in ending WIP inventory. These partially completed units were 75% complete with respect to DM and 40% complete with respect to Conversion Costs. Use the Weighted-Average method to answer the questions below.

1. 1pt: Calculate how many units were completed and transferred out to the Bottling Department during January.

2. 2pts: Calculate the Equivalent Units of Production (EUP) for January for both DM and Conversion Costs.

3. 2pts: Calculate the cost per EUP for January for both DM and Conversion Costs. Round your final answer to two decimal places.

4. 1pt: Assign costs to the units completed and transferred out of the Blending Department to the Bottling Department during January.

5. 1pt: Assign costs to the units remaining in the Blending Department’s ending WIP inventory as of January 31^st.

Winslow Inc. manufactures and sells three types of shoes. The income statements prepared under the absorption costing method for the three shoes are as follows: Winslow Inc. Product Income Statements—Absorption Costing For the Year Ended December 31, 20Y1 1 Cross Training Shoes Golf Shoes Running Shoes 2 Revenues $880,000.00 $685,000.00 $635,000.00 3 Cost of goods sold 420,000.00 339,200.00 416,000.00 4 Gross profit $460,000.00 $345,800.00 $219,000.00 5 Selling and administrative expenses 411,200.00 243,800.00 362,300.00 6 Income (Loss) from operations $48,800.00 $102,000.00 $(143,300.00) In addition, you have determined the following information with respect to allocated fixed costs: 1 Cross Training Shoes Golf Shoes Running Shoes 2 Fixed costs: 3 Cost of goods sold $127,500.00 $89,700.00 $120,000.00 4 Selling and administrative expenses 94,300.00 82,400.00 143,300.00 These fixed costs are used to support all three product lines and will not change with the elimination of any one product. In addition, you have determined that the effects of inventory may be ignored. The management of the company has deemed the profit performance of the running shoe line as unacceptable. As a result, it has decided to eliminate the running shoe line. Management does not expect to be able to increase sales in the other two lines. However, as a result of eliminating the running shoe line, management expects the profits of the company to increase by $143,300. Required: a. Do you agree with management’s decision and conclusions? Explain your answer. (Note: You may wish to complete part (b), the variable costing income statement, first.) b. Prepare a variable costing income statement for the three products. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. A colon (:) will automatically appear if it is required. If a net loss is incurred, enter that amount as a negative number using a minus sign. Enter all other amounts as positive numbers. c. Use the report in (b) to determine the profit impact of eliminating the running shoe line, assuming no other changes. Use the minus sign to indicate a decline in profit. Labels December 31, 20Y1 Fixed costs For the Year Ended December 31, 20Y1 Amount Descriptions Contribution margin Contribution margin ratio Fixed manufacturing costs Fixed selling and administrative expenses Income (Loss) from operations Manufacturing margin Revenues Sales mix Total fixed costs Variable cost of goods sold Variable selling and administrative expenses b. Prepare a variable costing income statement for the three products. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. A colon (:) will automatically appear if it is required. If a net loss is incurred, enter that amount as a negative number using a minus sign. Enter all other amounts as positive numbers. Score: 86/156 Winslow Inc. Variable Costing Income Statement—Three Product Lines For the Year Ended December 31, 20Y1 ✔ 1 Cross Training Shoes Golf Shoes Running Shoes 2 Revenues ✔ $880,000.00 ✔ $685,000.00 ✔ $635,000.00 ✔ 3 Variable cost of goods sold ✔ 292,500.00 ✔ 249,100.00 302,750.00 4 Manufacturing margin ✔ $587,500.00 ✔ $455,900.00 $322,250.00 5 Variable selling and administrative expenses ✔ 319,400.00 17,500.00 203,000.00 6 Contribution margin ✔ $268,100.00 $276,400.00 $119,250.00 7 Fixed costs: ✔ 8 Fixed manufacturing costs ✔ $126,500.00 $90,500.00 $119,250.00 9 Fixed selling and administrative expenses ✔ 94,600.00 83,000.00 142,000.00 10 Total fixed costs ✔ $22,100.00 $173,500.00 $261,250.00 11 Income (Loss) from operations ✔ $47,000.00 $102,900.00 $(142,000.00) Points: 20.95 / 38 Check My Work When recasting the variable costing income statement, remember that under variable costing, all fixed factory overhead costs are deducted in the period incurred. Revenues - Variable Cost of Goods Sold = Manufacturing Margin; Manufacturing Margin - Variable Selling and Administrative Expenses = Contribution Margin; Contribution Margin - (Fixed Manufacturing Costs + Fixed Selling and Administrative Expenses) = Income from Operations

Problem:

Charity Going Concern You are the newly hired controller for a charitable organization that is in trouble. The organization Helping Hands assists disabled individuals with all aspect of looking for and getting jobs. The organization has been struggling for the entire time of your employment. You are concerned that Helping Hands can survive much longer. The recession has taken a toll on fundraising. Payroll was due and you delayed paying the utilities for as long as you could. The big problem is Helping Hands largest donor requires that he be provided quarterly financial statements for him to continue making donations. In fact, you have not provided Gerald with statements for the last two quarters. Gerald comes to see you and informs you that his accountant will not allow him to provide any more financial assistance until you provide him with financial statements. If Gerald could show his accountant that the organization was doing well he could give them this quarters check. He needs the financial statements that have been promised. You apologize that he has not received the statements yet and promise that he will have them next week.

Later, Don the executive director of Helping Hands visits your office. He realizes there is a problem but is thankful there is enough cash to get through another week. Don is sure that once you provide Gerald the promised financial statements the donations will continue. Don realizes the financials do not look that good. He suggests leaving the debt to a major vendor off the financials. Don is a golfing buddy with the vendor’s president and the vendor Charles has offered to give the charity an official letter immediately waiving the charities debt to his company, not permanently, but just until you get past the cash crunch. Don assures you that it will keep the charity afloat and you wouldn’t be doing anything illegal. Charles is fully authorized to do this, as a goodwill gesture to a worthy cause. Don is hoping that maybe in the end Charles will actually cancel the debt. It’s a possibility.

UPDATED INFO: what is the ethical issue? what are the facts? who are the stakeholders? any alternatives to solve this issue? what would be the correct decision on this issue? using the 8 step process to answer and using support from the AICPA, Explain what your options are (there are two).

The textbook and the code of ethics should give you the information you need to complete this assignment. Your paper should be of the quality you would submit to the executive director or the board, explain your decision in a factual business manner. - Recognizing Ethical Matters and making good decisions means being familiar with the profession’s rules and regulations from the AICPA and the state board of accountancy.

To be effective, you need to know how to analyze a matter or situation. One ethics decision making model contains 8 steps:

Step 1: Recognize the Ethical Issue – the ethical issue in this situation

Step 2: Gather the Critical Facts – All the facts may not be initially evident, make sure you have them all before making any decisions.

Step 3: Identify the Stakeholders – Considering the alternatives who will positively benefit or negatively be harmed by your decision or actions.

Step 4: Consider Alternatives – What are the various approaches that can be taken to address this matter and resolve the ethical conflict.

Step 5: Consider the Effect on Stakeholders – Consider how each approach is likely to affect the stakeholder.

Step 6: Consider Your Comfort Level – How comfortable are you with each option, if discussed in public, how would it reflect on your ethics.

Step 7: Consider Rules, Regulations and Laws – Are the options consistent with the professional rules, regulations and laws?

Step 8: Make a Decision – Once you have considered all of the above can you make a decision? Explain your decision and what the major factors in why you consider this to be the best option. Make your argument convincing.

The partners in Sandhill Company decide to liquidate the firm when the balance sheet shows the following.

The partners share income and loss 5:3:2. During the process of liquidation, the following transactions were completed in the following sequence.

Prepare the entries to record the transactions.

Post to the cash and capital account

You are considering the following mutually exclusive projects. Both projects will be depreciated using straight line depreciation to a zero book value over the life of the project. Neither project has any salvage value.

1. Based on the net present value method of analysis, which project should you accept? Provide Proof.

2. Based on the on the internal rate of return analysis, which project should you accept? Provide Proof.

1. Your company, Bearcat Inc., is planning to purchase new equipment with a price of $1,165,000. Bearcat Inc. is working out the financing plan with the manufacturer, and is considering the choice to finance for 36, 48, or 60 months at an annual interest rate of 5.124%. But you want to pay off the loan as quickly as possible. Bearcat Inc. has other projects in the company that require cash flow, therefore, you have some constraints that have to be considered when choosing the payment schedule. The payment budget per month is $28,000. After 24 months, you have the ability to add a balloon payment of up to $55,000; however, the manufacturer will only accept a balloon payment with your last monthly payment. They will allow you to make smaller additional principal payments throughout the life of the loan, but they must be the same amount each month (other than with the last payment, when you can make the large balloon payment).

Create the full amortization schedule (including any additional payment, such as the balloon payment). Stop the schedule with the month that has a beginning balance of zero, and show only the beginning balance for that month on the schedule (meaning, don’t show payments for that month).

Your full amortization schedule should consider the following: (don’t explicitly write it out)

1. What length of financing do you choose?
2. What is the normal monthly required payment?
3. Do you pay any extra per month, and if so, how much?
4. What is the earliest month in which you can pay off the loan (meaning, in which month does the final payment occur)?
5. What is the amount of the balloon payment?
6. What is the total interest paid?

What are product and period costs and how do they impact financial statements?

Equivalent Units and Related Costs; Cost of Production Report; Entries Dover Chemical Company manufactures specialty chemicals by a series of three processes, all materials being introduced in the Distilling Department. From the Distilling Department, the materials pass through the Reaction and Filling departments, emerging as finished chemicals. The balance in the account Work in Process—Filling was as follows on January 1: Work in Process—Filling Department (4,800 units, 60% completed): Direct materials (4,800 x $12.70) $60,960 Conversion (4,800 x 60% x $8.30) 23,904 $84,864 The following costs were charged to Work in Process—Filling during January: Direct materials transferred from Reaction Department: 61,900 units at $12.50 a unit $773,750 Direct labor 269,060 Factory overhead 258,508 During January, 61,400 units of specialty chemicals were completed. Work in Process—Filling Department on January 31 was 5,300 units, 40% completed. Required: 1. Prepare a cost of production report for the Filling Department for January. If an amount is zero, enter "0". If required, round your cost per equivalent unit answers to two decimal places. Dover Chemical Company Cost of Production Report-Filling Department For the Month Ended January 31 Unit Information Units charged to production: Inventory in process, January 1 Received from Reaction Department Total units accounted for by the Filling Department Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, January 1 Started and completed in January Transferred to finished goods in January Inventory in process, January 31 Total units to be assigned costs Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for January in Filling Department $ $ Total equivalent units Cost per equivalent unit $ $ Costs charged to production: Direct Materials Conversion Total Inventory in process, January 1 $ Costs incurred in January Total costs accounted for by the Filling Department $ Cost allocated to completed and partially completed units: Inventory in process, January 1 balance $ To complete inventory in process, January 1 $ $ Cost of completed January 1 work in process $ Started and completed in January Transferred to finished goods in January $ Inventory in process, January 31 Total costs assigned by the Filling Department $ 2. Journalize the entries for (1) costs transferred from Reaction to Filling and (2) the costs transferred from Filling to Finished Goods. (1) (2) 3. Determine the increase or decrease in the cost per equivalent unit from December to January for direct materials and conversion costs. If required, round your answers to two decimal places. Increase or Decrease Amount Change in direct materials cost per equivalent unit $ Change in conversion cost per equivalent unit 4. The cost of production report may be used as the basis for allocating product costs between and . The report can also be used to control costs by holding each department head responsible for the units entering production and the costs incurred in the department. Any differences in unit product costs from one month to another, such as those in part (3), can be studied carefully and any significant differences investigated.

Cost of Production and Journal Entries

AccuBlade Castings Inc. casts blades for turbine engines. Within the Casting Department, alloy is first melted in a crucible, then poured into molds to produce the castings. On May 1, there were 500 pounds of alloy in process, which were 40% complete as to conversion. The Work in Process balance for these 500 pounds was $44,200, determined as follows:

During May, the Casting Department was charged $357,200 for 4,700 pounds of alloy and $38,080 for direct labor. Factory overhead is applied to the department at a rate of 150% of direct labor. The department transferred out 4,900 pounds of finished castings to the Machining Department. The May 31 inventory in process was 20% complete as to conversion.

a1. Prepare the May journal entry for the Casting Department for the materials charged to production.

a2. Prepare the May journal entry for the Casting Department for the conversion costs charged to production. If an amount box does not require an entry, leave it blank.

a3. Prepare the May journal entry for the Casting Department for the completed production transferred to the Machining Department.

b. Determine the Work in Process—Casting Department May 31 balance.
$

c. Compute the change in the costs per equivalent unit for direct materials and conversion from the previous month (April).