Question text

Determining the Cost of an Asset
Omar Corporation paid $400,000 for a tract of land that had an old gas station on it. The gas station was demolished at a cost of $20,000 and a new warehouse was constructed on the site at a cost of $640,000.

In addition, several other costs were incurred:

(a) What value should be assigned to the tract of land?

$Answer ?

(b) What value should be assigned to the new warehouse?

$Answer ?

1. Define, describe and identify the pros and cons of the following modern construction project delivery methods a) design-bid-build, b) design build c), engineer- procure construct, d. design- CM contracts , e) design-agency CM contracts, f) fast-track construction, g) partnering, h) relational construction/lean project delivery. You may derive your responses from text, Construction Overview posted in Course Documents or other sources with references.

Prepare short analysis report of maximum 2 pages (500-1000 words) according to the following case study.
Read the case study and answer the questions:

Aamod was born in a small rural village in Bangladesh. He spent his childhood years looking after his family’s livestock. The community upheld high values, such as honesty and respect, but the people were desperately poor. He realized that he would have to go to Oman and apply for a job at a construction company.
As a young man, Aamod left his village in the mountains and took on the difficult job of getting to Oman. He went in search of one of his distant family members, who was working for a construction company near Sohar as a personnel assistant. He managed to find his relative, who managed to find him a job as a general construction worker and accommodation in one of the construction company’s hostels. Aamod was dedicated to his work, and time passed quickly. Every month, he forwarded most of his wages to his family in Bangladesh.
One day Aamod’s family member called him into his office and informed him that he was due for promotion. He also told Aamod that he would be required to pay him 50000 TAKA (about 200 OMR) for his “efforts.” This arrangement seemed strange to Aamod as he knew that it was not in line with company procedures. When Aamod asked about this, the personnel assistant replied that he had the authority to do so and that Aamod would not be promoted if he did not pay the 50000 TAKA. Aamod returned to his room and wrestled with the options before him that night. He had grown up with strong personal values, which included honesty and hard work, but his family needed the extra income. What was he to do?
After a restless night, he returned the next day to the personnel assistant’s office and handed him the 50000 TAKA. He was immediately promoted, but he returned to his room with a troubled mind. A few weeks later, the personnel assistant was reported and investigated for fraudulent behavior. He was suspended from work, and the investigation revealed all his corrupt activities. The record he had kept on all employees who paid bribes to him was also found. All employees on this list were called in and charged with fraud. Aamod’s name was on the list, and he was found guilty and dismissed from the service of the company along with all the others.
Questions
1) Describe Aamod’s personality and how the situation affects his personality to predict his behavior?
2) What should Aamod have done differently?
3) In what way could the construction company management have provided support to him prior to his wrongful act?
4) How would you have acted had you been in a similar situation?



Note: Each question carries 5 marks and will be evaluated based on originality, understanding of theory, use of examples and writing style. Total mark 20% of the final evaluation

Prepare short analysis report of maximum 2 pages ( 500 - 1000 words ) according to the following case study . Read the case study and answer the questions :

Aamod was born in a small rural village in Bangladesh . He spent his childhood years looking after his family ' s livestock . The community upheld high values , such as honesty and respect , but the people were desperately poor . He realized that he would have to go to Oman and apply for a job at a construction company . As a young man , Aamod left his village in the mountains and took on the difficult job of getting to Oman . He went in search of one of his distant family members , who was working for a construction company near Sohar as a personnel assistant . He managed to find his relative , who managed to find him a job as a general construction worker and accommodation in one of the construction company ' s hostels . Aamod was dedicated to his work , and time passed quickly . Every month , he forwarded most of his wages to his family in Bangladesh . One day Aamod ' s family member called him into his office and informed him that he was due for promotion . He also told Aamod that he would be required to pay him 50000 TAKA ( about 200 OMR ) for his efforts . " This arrangement seemed strange to Aamod as he knew that it was not in line with company procedures . When Aamod asked about this , the personnel assistant replied that he had the authority to do so and that Aamod would not be promoted if he did not pay the 50000 TAKA . Aamod returned to his room and wrestled with the options before him . He had grown up with strong personal values , which included honesty and hard work , but his family needed the extra income . What was he to do ? After a restless night , he returned the next day to the personnel assistant ' s office and handed him the 50000 TAKA . He was immediately promoted , but he returned to his room with a troubled mind . A few weeks later , the personnel assistant was reported and investigated for fraudulent behavior . He was suspended from work , and the investigation revealed all his corrupt activities . The record he had kept on all employees who paid bribes to him was also found . All employees on this list were called in and charged with fraud . Aamod ' s name was on the list , and he was found guilty and dismissed from the service of the company along with all the others . Questions
1 ) Describe Aamod ' s personality and how the situation affects his personality to predict his behavior ?
2 ) What should Aamod have done differently ?
3 ) In what way could the construction company management have provided support to him prior to his wrongful act ?
4 ) How would you have acted had you been in a similar situation ?
Note : Each question carries 5 marks and will be evaluated based on originality , understanding of theory , use of examples and writing style

#1.Stargazer Company was incorporated on January 1, 2015 but was unable to begin manufacturing activities until July 1, 2015, because new factory facilities were not completed until that date. The Land and Building account reported the following items during 2015:

January 31                                                       Land and buildings                          $160,000

February 28                                                     Cost of removal of building                 9,800

May 1                                                              Partial payment of new construction     60,000

May 1                                                              Legal fees paid                                     3,770

June 1                                                              Second payment on new construction 40,000

June 1                                                              Insurance premium                              2,280

June 1                                                              Special tax assessment                          4,000

June 30                                                            General expenses                                 36,300

July 1                                                               Final payment on new construction     30,000

December 31                                                   Asset write up                                      53,800

                                                                                                                                    399,950

December 31                                                   Depreciation – 2015 at 1%                  (4,000)

December 31, 2015                                         Account balance                                  395,950

The following additional information is to be considered:

1. To acquire land and building, the company paid $80,000 cash and 800 shares of its 8% cumulative preferred stock, par value $100 per share. Fair value of the stock is $117 per share.

2. Cost of removal of old buildings amounted to $9,800, and the demolition company retained all materials of the building.

3. Legal fees covered the following:

Cost of organization $610

Examination of title covering purchase of land1,300

Legal work in connection with construction contract1,860

                                                                                    3,770

4. Insurance premium covered the building for a 2 year term beginning May 1, 2015.

5. The special tax assessment covered street improvements that are permanent in nature.

6. General expenses covered the following for the period from Jan 1 to June 30, 2015.

President’s salary$32,100

Plant superintendent’s salary – supervision of new building4,200

                                                                                                36,300

7. Because of a general increase in construction costs after entering into the building contract, the board of directors increased the value of the building $53,800, believing that such an increase was justified to reflect the current market at the time the building was completed. Retained earnings was credited for this amount.

8. Estimated life of building – 50 years. Depreciation for 2015 – 1% of asset value (1% of $400,000 or $4,000)

Provide entries to reflect correct land, buildings and depreciation accounts at December 31, 2015. I would recommend you show detailed calculations to receive partial credit.

#2. You have a client that is considering trading machinery with another company. Although the machines are different from each other, you believe that an assessment of expected cash flows on the exchanged assets will indicate the exchange lacks commercial substance. Your client would prefer that the exchange be deemed to have commercial substance, to allow them to record gains. Here are the facts:

                                                                                                Your Client    Other Company

Original cost                                                                            $150,000         $100,000

Accumulated depreciation                                                       80,000             40,000

Fair value                                                                                 100,000           80,000

Cash received (paid)                                                                20,000             (20,000)

Record the entry on your client’s books assuming the exchange LACKS commercial substance. Then discuss what the financial statement effects would be of treating the exchange as having, versus lacking, commercial substance.

#3.Your client is in the planning phase for a major plant expansion, which will involve the construction of a new warehouse. The assistant controller does not believe that interest cost can be included in the cost of the warehouse because it is a financing expense. Others on the planning team believe that some interest cost can be included in the cost of the warehouse, but no one could identify the specific authoritative guidance for this issue. Your supervisor asks you to research this issue.

Using the FASB codification, answer the following questions (you must quote from the codification and include the section/paragraphs to receive credit).

a)What are the objectives for capitalizing interest?

b) Which assets qualify for interest capitalization?

c) Is there a limit to the amount of interest that may be capitalized in a period?

d) If interest capitalization is allowed, what disclosures are required?

A graph G = (V, E) is a near-tree if it is connected and has at most n+ 8 edges, where n = |V |. Give an algorithm with running time O(n) that takes a near-tree G with costs on its edges, and returns a minimum spanning tree of G. Assume all the edge costs are distinct.

Samuelson and Messenger (SAM) began 2021 with 320 units of its one product. These units were purchased near the end of 2020 for $24 each. During the month of January, 160 units were purchased on January 8 for $27 each and another 320 units were purchased on January 19 for $29 each. Sales of 215 units and 210 units were made on January 10 and January 25, respectively. There were 375 units on hand at the end of the month. SAM uses a periodic inventory system. 1. Calculate ending inventory and cost of goods sold for January using FIFO. 2. Calculate ending inventory and cost of goods sold for January using average cost.

1. Calculate ending inventory and cost of goods sold for January using FIFO.
2. Calculate ending inventory and cost of goods sold for January using average cost.

okay so I took this quiz and these are the answers I put. there are 13 questions but I am not sure what I am getting wrong. all I know is I got 9 out of 13 right.

• A population's dispersion pattern is related to

1. the likelihood of competition between individuals.
2. individuals' chance of finding a mate.
3. Both
4. neither

• A population has the greatest number of individuals

1. when numbers are near (or at) the carrying capacity.
2. when numbers are near half of the carrying capacity.
3. when numbers are at a minimum (near zero)
4. (none of the above - population sizes do not change.)

• A population's growth rate is likely to be highest

1. when numbers are near (or at) the carrying capacity.
2. when numbers are near half of the carrying capacity.
3. when numbers are at a minimum (near zero)
4. (none of the above - population growth rates do not change.)

• The size of a population

1. always increases to a maximum, then remains constant for ever.
2. may increase and decrease cyclically.
3. always increases to a maximum, then decreases to zero.
4. (none of the above)

• A life table is useful for

1. describing changes in population size over a range of time.
2. describing the range of individual reproductive rates in a population.
3. (both)
4. (neither)

• As song sparrow population density increases,

1. the average reproductive success of individual song sparrows tends to increase.
2. the average reproductive success of individual song sparrows tends to decrease.
3. the average reproductive success of individual song sparrows does not change.
4. the average reproductive success of individual song sparrows is unpredictable.

• Mosquitos have a life history that is near the extreme of

1. r-selection.
2. K-selection.
3. (both)
4. (neither)

• During the early and middle twentieth century, there was

1. a sharp increase in human birth rate.
2. a sharp decrease in human death rate.
3. (both)
4. (neither)

True/False:

• If you ask a population ecologist, all the individuals in a population belong to the same species. : True
• A single population might exist in multiple territories that do not overlap, with no migration of individuals between territories.,true
• A population's carrying capacity depends on the action of parasites. fasle
• Most populations have a random dispersion pattern. False
• In general, animals are most likely to die at an age near their maximum possible lifespan. fasle

8. What is the X bar chart used for?

9. What is the first step in the construction of the X bar chart?

11. What is the second step in the construction of the X bar chart?

13. What is the third step in the construction of the X bar chart?

14. What is a homogeneous sub-group?