Questions
The Founding Fathers established the foundation for the United States of America. Briefly discuss SIX creations...

The Founding Fathers established the foundation for the United States of America. Briefly discuss SIX creations of the 55 men that is part of the American government today. Provide a brief discussion of each invention. Remember to discuss and NOT list or bullet.

In: Economics

In 1900 Chile’s income per capita was $1,950, which made it the second richest country in...

In 1900 Chile’s income per capita was $1,950, which made it the second richest country in Latin America, after Argentina. Saul Bolaño, a reputed historian, explains Chile’s relative success on the fact that its elite class was “disciplined, progressive, and industrious” (Yeager, 1991). Imagine a journalist covering Latin America asks you for your opinion, as an expert on Latin American development, about Bolaño’s theory. What would you tell the journalist? ​

In: Economics

Analyze and Explain: The international marketing manager at the University of Colorado is convinced there is...

Analyze and Explain: The international marketing manager at the University of Colorado is convinced there is a market in Latin America for a cuddly CU Ralphie mascot plush toy. She has learned about your experience in the Doing Business in Latin America course and needs your advice. Based on the chapters in Robles and Lascu, please list and briefly discuss five (5) key aspects of Latin American consumers that CU should consider in the Raphie marketing plan.

In: Operations Management

The following selected transactions were completed by Capers Company during October of the current year: Oct....

The following selected transactions were completed by Capers Company during October of the current year:

Oct. 1 Purchased merchandise from UK Imports Co., $14,448, terms FOB destination, n/30.
3 Purchased merchandise from Hoagie Co., $9,950, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $220 was added to the invoice.
4 Purchased merchandise from Taco Co., $13,650, terms FOB destination, 2/10, n/30.
6 Issued debit memo to Taco Co. for $4,550 of merchandise returned from purchase on October 4.
13 Paid Hoagie Co. for invoice of October 3.
14 Paid Taco Co. for invoice of October 4 less debit memo of October 6.
19 Purchased merchandise from Veggie Co., $27,300, terms FOB shipping point, n/eom.
19 Paid freight of $400 on October 19 purchase from Veggie Co.
20 Purchased merchandise from Caesar Salad Co., $22,000, terms FOB destination, 1/10, n/30.
30 Paid Caesar Salad Co. for invoice of October 20.
31 Paid UK Imports Co. for invoice of October 1.
31 Paid Veggie Co. for invoice of October 19.
CHART OF ACCOUNTS
Capers Company
General Ledger
ASSETS
110 Cash
120 Accounts Receivable
125 Notes Receivable
130 Merchandise Inventory
131 Estimated Returns Inventory
140 Office Supplies
141 Store Supplies
142 Prepaid Insurance
180 Land
192 Store Equipment
193 Accumulated Depreciation-Store Equipment
194 Office Equipment
195 Accumulated Depreciation-Office Equipment
LIABILITIES
211 Accounts Payable-Caesar Salad Co.
212 Accounts Payable-Hoagie Co.
213 Accounts Payable-Taco Co.
214 Accounts Payable-UK Imports Co.
215 Accounts Payable-Veggie Co.
216 Salaries Payable
218 Sales Tax Payable
219 Customers Refunds Payable
221 Notes Payable
EQUITY
310 Owner, Capital
311 Owner, Drawing
312 Income Summary
REVENUE
410 Sales
610 Interest Revenue
EXPENSES
510 Cost of Merchandise Sold
521 Delivery Expense
522 Advertising Expense
524 Depreciation Expense-Store Equipment
525 Depreciation Expense-Office Equipment
526 Salaries Expense
531 Rent Expense
533 Insurance Expense
534 Store Supplies Expense
535 Office Supplies Expense
536 Credit Card Expense
539 Miscellaneous Expense
710 Interest Expense

Journalize the entries to record the transactions of Capers Company for October. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

PAGE 10

JOURNAL

ACCOUNTING EQUATION

DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY

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9

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13

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In: Accounting

Find a recent article discussing the property tax levy process of a municipality in Illinois. Discuss...

Find a recent article discussing the property tax levy process of a municipality in Illinois. Discuss the process they undertook towards adopting the levy, any controversy surrounding their process, and the eventual outcome. Include historical trend data. PLEASE PROVIDE APA CITATION FOR ARTICLE CHOSEN

Posts should be more than a “book report”, and display proof of critical thinking.

Governing Magazine http://www.governing.com

American City and County Magazine http://www.americancityandcounty.com

Government Finance Officers Association http://www.gfoa.org International

City / County Management Association http://www.icma.org

The Fiscal Times http://www.thefiscaltimes.com

Illinois Municipal League http://www.iml.org

In: Accounting

Please write 350 words about the current spending habits and preferences of American young-adult consumers. Plus...

Please write 350 words about the current spending habits and preferences of American young-adult consumers. Plus cite your sources.

In: Psychology

[The following information applies to the questions displayed below.]    Hemming Co. reported the following current-year...

[The following information applies to the questions displayed below.]
  
Hemming Co. reported the following current-year purchases and sales for its only product.
    

Date Activities Units Acquired at Cost Units Sold at Retail
Jan. 1 Beginning inventory 200 units @ $10 = $ 2,000
Jan. 10 Sales 150 units @ $40
Mar. 14 Purchase 350 units @ $15 = 5,250
Mar. 15 Sales 300 units @ $40
July 30 Purchase 450 units @ $20 = 9,000
Oct. 5 Sales 430 units @ $40
Oct. 26 Purchase 100 units @ $25 = 2,500
Totals 1,100 units $ 18,750 880 units

Required:
Hemming uses a perpetual inventory system.
  
1. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.

3. Compute the gross margin for FIFO method and LIFO method.

Required 1
Perpetual FIFO:
Goods Purchased Cost of Goods Sold Inventory Balance
Date # of units Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units Cost per unit Inventory Balance
January 1 200 @ $10.00 = $2,000.00
January 10 150 @ $10.00 = $1,500.00 50 @ $10.00 = $500.00
March 14 350 @ $15.00 50 @ $10.00 = $500.00
350 @ $15.00 = 5,250.00
$5,750.00
March 15 50 @ $10.00 = $500.00 0 @ $10.00 =
250 @ $15.00 = 3,750.00 100 @ $15.00 = $1,500.00
$4,250.00 $1,500.00
July 30
October 5
October 26
Totals $5,750.00
Requirement 3
FIFO: LIFO:
Sales revenue
Less: Cost of goods sold
Gross margin

In: Accounting

Mf  Limited, a bespoke furniture manufacturing entity based in South Africa, is looking to diversify its market...

Mf  Limited, a bespoke furniture manufacturing entity based in South Africa, is looking to diversify its market by entering the European and American markets.

In order to gain a foothold in the new markets, Mf Limited can either produce the furniture in South Africa and export it, or acquire existing businesses in Europe and America. In order to decide between these two options, the company engaged an international consultancy firm at a cost of R800 000.

Research by the consultancy firm suggested that the export route was less risky, especially considering the company’s plans to try out the international market for an initial five-year period before making a longer-term decision. In order to export the furniture, the company will need to ramp up production in South Africa.

This will need the company to expand its production capacity through building a new factory and acquiring new machinery. Construction of the factory will cost the company R18 million while the new machinery will cost the company R6.5 million to purchase and R500 000 to transport and install. The company expects additional after-tax operating cash flows from the new markets to be R6 million per annum, stated in current prices.

The cash flows are expected to increase in line with inflation. The expected annual inflation rate is 6%. The factory and machinery are expected to have after-tax salvage values of R10 million and R1 million, respectively (stated in current prices). The company’s nominal cost of capital is 12%.

Calculate the net present value (NPV) and internal rate of return (IRR) of the expansion project TO SHOW IF EXPANSION PROJECT IS VALID, TO WHAT TYPES OF EXCHANGE RATE RISK WILL HE BE EXPOSED

In: Finance

Mf Limited, a bespoke furniture manufacturing entity based in South Africa, is looking to diversify its...

Mf Limited, a bespoke furniture manufacturing entity based in South Africa, is looking to diversify its market by entering the European and American markets. In order to gain a foothold in the new markets, Mf Limited can either produce the furniture in South Africa and export it, or acquire existing businesses in Europe and America. In order to decide between these two options, the company engaged an international consultancy firm at a cost of R800 000. Research by the consultancy firm suggested that the export route was less risky, especially considering the company’s plans to try out the international market for an initial five-year period before making a longer-term decision. In order to export the furniture, the company will need to ramp up production in South Africa. This will need the company to expand its production capacity through building a new factory and acquiring new machinery. Construction of the factory will cost the company R18 million while the new machinery will cost the company R6.5 million to purchase and R500 000 to transport and install. The company expects additional after-tax operating cash flows from the new markets to be R6 million per annum, stated in current prices. The cash flows are expected to increase in line with inflation. The expected annual inflation rate is 6%. The factory and machinery are expected to have after-tax salvage values of R10 million and R1 million, respectively (stated in current prices). The company’s nominal cost of capital is 12%.

Calculate the net present value (NPV) and internal rate of return (IRR) of the expansion project TO SHOW IF EXPANSION PROJECT IS VALID, TO WHAT TYPES OF EXCHANGE RATE RISK WILL HE BE EXPOSED

In: Finance

Problem 6-6A Record transactions using a perpetual system, prepare a partial income statement, and adjust for...

Problem 6-6A Record transactions using a perpetual system, prepare a partial income statement, and adjust for the lower of cost and net realizable value (LO6-2, 6-3, 6-4, 6-5, 6-6)

[The following information applies to the questions displayed below.]

At the beginning of October, Bowser Co.’s inventory consists of 64 units with a cost per unit of $36. The following transactions occur during the month of October

October 4 Purchase 116 units of inventory on account from Waluigi Co. for $50 per unit, terms 2/10, n/30.
October 5 Pay cash for freight charges related to the October 4 purchase, $672.
October 9 Return 20 defective units from the October 4 purchase and receive credit.
October 12 Pay Waluigi Co. in full.
October 15 Sell 146 units of inventory to customers on account, $11,680. [Hint: The cost of units sold from the October 4 purchase includes $50 unit cost plus $7 per unit for freight less $1 per unit for the purchase discount, or $56 per unit.]
October 19 Receive full payment from customers related to the sale on October 15.
October 20 Purchase 86 units of inventory from Waluigi Co. for $56 per unit, terms 3/10, n/30.
October 22 Sell 86 units of inventory to customers for cash, $6,880.
  1. Assuming that Bowser Co. uses a FIFO perpetual inventory system to maintain its inventory records, record the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
      

  2. Suppose by the end of October that the remaining inventory is estimated to have a net realizable value per unit of $30. Record any necessary adjustment for lower of cost and net realizable value. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

  3. Prepare the top section of the multiple-step income statement through gross profit for the month of October after the adjustment for lower of cost and net realizable value

In: Accounting