Mr. Raju just appointed as an account manager at NH Sdn Bhd, a retail company selling merchandises for local market. Mr. Raju is being responsible to prepare and monitor the budget and expenses of the company business. Currently the company is preparing the quarterly budget as of 31 December 2020 and he has been asked by Ms. Sally, the owner of the company, to prepare a master budget. The sales forecast for the merchandises are provided as follows:
|
Unit sales |
|
|
August 2020 |
1,500 actual |
|
September 2020 |
1,600 actual |
|
October 2020 |
1,700 budgeted |
|
November 2020 |
2,300 budgeted |
|
December 2020 |
2,400 budgeted |
|
January 2021 |
1,300 budgeted |
The average selling price and the average purchase price per unit are RM250 and RM120 respectively. As for desired ending inventory is expected 30% of next month’s unit sales. Collections from customers will be 20% in month of sale, 50% in month after sale and 30% two months after sale.
As for projected cash payments, inventory purchases will be paid in the month following acquisition. Meanwhile, variable cash expenses are equal to 35% of each month’s sales and paid in the month of sale. Fixed cash expenses are RM20,000 per month and are paid in the month incurred. Depreciation on equipment is RM2,000 per month. Desired ending cash balance per month will be RM20,000.
NH Sdn Bhd also has provided the following information at 30 September 2020
Balance Sheet as at 30 September 2020
|
RM |
|
|
Cash |
30,000 |
|
Account Receivable |
245,000 |
|
Merchandise inventory(650 unit) |
78,000 |
|
Fixed Assets (net) |
110,000 |
|
Total assets |
463,800 |
|
Account Payable(Merchandise) |
148,800 |
|
Owner’s Equity |
315,000 |
|
Total liability and equity |
463,800 |
Required:
Based on the information given, you are required to prepare the following budget** for the upcoming quarter ending 31 December 2020.
In: Accounting
I need a annual shareholder letter 800-1000 words as a CEO in response to the COVID-19 crisis and how my company (a made up business) will handle business in this new reality.
In: Operations Management
Topic: Media activity
Now you are employed as the public relations officer of an information technology company. The company is going to promote a new product at early in November 2020. Being the PR officer, your assignment is to propose a press conference for the promotion of the new product at the end of October 2020.
Your assignment should include:
In: Economics
Describe the structured interview. What are the characteristics of structured interviews that improve on the shortcomings of unstructured interviews? Develop one original situational question and an accompanying rating scale using benchmark responses with assigned values to be used in a structured interview. Be sure to note the task you are targeting for the job.
In: Operations Management
Do you think that informational interviewing can be an effective networking tool? Why or why not? Do you plan on conducting informational interviews? Why or why not? Who would you interview? Why would you interview them? Please Answer in 6-8 Sentences
In: Operations Management
Describe the structured interview. What are the characteristics of structured interviews that improve on the shortcomings of unstructured interviews? Develop one original situational question and an accompanying rating scale using benchmark responses with assigned values to be used in a structured interview. Be sure to note the task you are targeting for the job.
In: Operations Management
On 1 January 2018, Entity P1 acquired the entire share capital of entity S1. The functional currencies of entities S1 and P1 are US$ and S$ (also presentation currency of P1) respectively. The net assets of S1 on 1 January 2018 were US$1,340,000. The financial statements of entity S1 on 31 December 2018 are as follows:
Statement of financial position (in US$) As of 31 December 2018
|
Current Assets |
|
|
Cash |
40,000 |
|
Accounts receivable |
780,000 |
|
Inventory |
230,000 |
|
Fixed assets |
|
|
Building |
1,800,000 |
|
Equipment |
600,000 |
|
Total Assets |
3,450,000 |
|
Current liabilities |
|
|
Accounts payable |
530,000 |
|
Non-current liabilities |
|
|
Loan payable |
940,000 |
|
Shareholder's equity |
|
|
Share capital |
1,340,000 |
|
Retained earnings |
640,000 |
|
Total liabilities and equity |
3,450,000 |
|
Income Statement (in US$) For year ended 31 December 2018 |
|
|
Sales revenue |
6,600,000 |
|
Cost of goods sold |
(5,400,000) |
|
Gross profit |
1,200,000 |
|
Operating expenses |
(420,000) |
|
Net profit before tax |
780,000 |
|
Tax expense |
(140,000) |
|
Net income after tax |
640,000 |
|
The US$/S$ exchange rates are as follows: 1 January 2018 |
1.42 |
|
31 December2018 |
1.48 |
|
Average for year 2018 |
1.45 |
Required
Prepare the translated 2018 financial statements of entity S1 in presentation currency.
In: Accounting
On January 1, 2020, Allan Company bought a 15 percent interest in Sysinger Company. The acquisition price of $208,500 reflected an assessment that all of Sysinger’s accounts were fairly valued within the company’s accounting records. During 2020, Sysinger reported net income of $112,800 and declared cash dividends of $33,700. Allan possessed the ability to significantly influence Sysinger’s operations and, therefore, accounted for this investment using the equity method.
On January 1, 2021, Allan acquired an additional 80 percent interest in Sysinger and provided the following fair-value assessments of Sysinger’s ownership components:
| Consideration transferred by Allan for 80% interest | $ | 1,425,600 | |
| Fair value of Allan's 15% previous ownership | 267,300 | ||
| Noncontrolling interest's 5% fair value | 89,100 | ||
| Total acquisition-date fair value for Sysinger Company | $ | 1,782,000 | |
Also, as of January 1, 2021, Allan assessed a $420,000 value to an unrecorded customer contract recently negotiated by Sysinger. The customer contract is anticipated to have a remaining life of four years. Sysinger’s other assets and liabilities were judged to have fair values equal to their book values. Allan elects to continue applying the equity method to this investment for internal reporting purposes.
At December 31, 2021, the following financial information is available for consolidation:
| Allan Company | Sysinger Company | ||||||
| Revenues | $ | (977,600 | ) | $ | (404,000 | ) | |
| Operating expenses | 645,600 | 244,400 | |||||
| Equity earnings of Sysinger | (51,870 | ) | 0 | ||||
| Gain on
revaluation of Investment in Sysinger to fair value |
(46,935 | ) | 0 | ||||
| Net income | $ | 430,805 | $ | 159,600 | |||
| Retained earnings, January 1 | $ | (964,600 | ) | $ | (638,400 | ) | |
| Net income | (430,805 | ) | (159,600 | ) | |||
| Dividends declared | 140,000 | 42,400 | |||||
| Retained earnings, December 31 | $ | (1,255,405 | ) | $ | (755,600 | ) | |
| Current assets | $ | 287,800 | $ | 574,300 | |||
| Investment in Sysinger (equity method) | 1,704,490 | 0 | |||||
| Property, plant, and equipment | 846,000 | 615,000 | |||||
| Patented technology | 870,600 | 386,000 | |||||
| Customer contract | 0 | 0 | |||||
| Total assets | $ | 3,708,890 | $ | 1,575,300 | |||
| Liabilities | $ | (1,326,485 | ) | $ | (106,700 | ) | |
| Common stock | (920,000 | ) | (522,000 | ) | |||
| Additional paid-in capital | (207,000 | ) | (191,000 | ) | |||
| Retained earnings, December 31 | (1,255,405 | ) | (755,600 | ) | |||
| Total liabilities and equities | $ | (3,708,890 | ) | $ | (1,575,300 | ) | |
How should Allan allocate Sysinger’s total acquisition-date fair value (January 1, 2021) to the assets acquired and liabilities assumed for consolidation purposes?
Calculate the following as they would appear in Allan's pre-consolidation 2021 statements.
Prepare a worksheet to consolidate the financial statements of these two companies as of December 31, 2021.
At year-end, there were no intra-entity receivables or payables.
In: Accounting
Question 01: How are apps, Skype, tweets, social networking, and virtual meetings changing business? How might apps and Skype be employed for internal and external communication?
Question 02: How are telecommuting situations, where your first meeting takes place over email, and you never meet in person, changing business interaction?
Question 03: How does this change “the stakes” of your first email and subsequent emails? Is it really possible to form a professional relationship over email?
Question 04: Have you ever experienced a business relationship like this? Was it successful?
In: Operations Management
Create 4-page (not including the cover or reference page) paper on a hot topic in Human Resource Management.
Paper Topics:
Content: paper should consist of information that cannot be found in your text.
In: Operations Management