DIRECTIONS: A) Prepare journal entries for the following items The following transactions occurred during 2017 (the company uses a perpetual inventory system with FIFO):

1) Jan 4 Stockholders invested an additional $10,000 cash in the business in exchange for common stock

2) Jan 4 Purchased 20 turkeys at $50 each on account from Turkey Farms.

3) Jan 4 Established a $200 petty change fund

4) Jan 5 Sold 6 turkeys for $200 each to Mr. Pilgrim, terms 2/10, n/30.

5) Jan 6 Sold 12 turkeys at $200 each for cash

6) Jan 8 Paid wages of $240

7) Jan 9 Mr. Pilgrim returned one turkey because they originally ordered only 5.

8) Jan 12 Purchased equipment on account for $2,000

9) Jan 14 Received payment in full from Mr. Pilgrim

10) Jan 15 Purchased 10 turkeys at $52 each on account from Thanksgiving Industries, terms 1/10, n/30.

11) Jan 15 Paid utility bill of $120

12) Jan 16 Returned 2 turkeys to Thanksgiving Industries because they were defective.

13) Jan 17 Sold 8 turkeys for $245 each for cash

14) Jan 18 Paid tax bill from 2016.

15) Jan 18 Performed the service of turkey grooming ($800 worth); we received the cash in 2016

16) Jan 19 Paid Accounts Payable in full from 2016

17) Jan 20 Received $2,200 cash from customers paying on their accounts

18) Jan 21 Received a bill from the local radio station for advertising in the amount of $400

19) Jan 22 Purchased 20 turkeys for $55 each on account from Stuffing & Cranberry Company; terms 2/5, n/30

20) Jan 23 Sold 10 turkeys to Turkey Leg Corporation for $260 each on account; terms 3/10, n/30

21) Jan 25 Paid freight costs from Stuffing & Cranberry Company of $10.

22) Jan 26 Received payment in full from Turkey Leg Corporation

23) Jan 27 Sold 10 turkeys to customers on credit for $260 each.

24) Jan 28 Paid Stuffing & Cranberry Company for the purchase on Jan 22

25) Jan 29 Petty cash was replenished and had the following receipts: gas receipt for $20, postage stamps for $39, Office Depot receipt for $16, miscellaneous receipt for $30, travel receipts for $40

26) Jan 30 Performed a physical inventory count and counted only 1 turkey on hand.

27) Jan 30 Bank statement arrives today and there is a $20 bank service charge as well as a $120 NSF check.

28) Jan 31 One month’s prepaid insurance needs to be expensed for January ($1,200 is for the whole year)

29) Jan 31 Depreciate one month’s worth of the building and equipment (Using straight line method; building has a useful life of 20 years, equipment has a useful life of 5 years and no salvage value)

30) Jan 31 The estimated bad debt expense under the percentage of sales basis is $120.

31) Jan 31 Paid dividends of $500

I have already created the journal entries for the following information but I need the t-accounts, income statement, statement of retained earning and balance sheet:

The following transactions occurred during 2018 (the company uses a perpetual inventory system with FIFO):

1)      Jan 4 Stockholders invested an additional $10,000 cash in the business in exchange for common stock

2)      Jan 4 Purchased 20 rabbits at $50 each on account from Jelly Bean Farms.

3)      Jan 4 Established a $200 petty change fund

4)      Jan 5 Sold 6 rabbits for $200 each to Mr. Karrot, terms 2/10, n/30.

5)     Jan 6 Sold 12 rabbits at $200 each for cash

6)      Jan 8 Paid wages of $240

7)      Jan 9 Mr. Karrot returned one rabbit because they originally ordered only 5.

8)      Jan 12 Purchased equipment on account for $2,000

9)      Jan 14 Received payment in full from Mr. Karrot

10)    Jan 15 Purchased 10 rabbits at $52 each on account from Easter Industries, terms 1/10, n/30.

11)    Jan 15 Paid utility bill of $120

12)    Jan 16 Returned 2 rabbits to Easter Industries because they were defective.

13)    Jan 17 Sold 8 rabbits for $245 each for cash

14)    Jan 18 Paid tax bill from 2017.

15)    Jan 18 Performed the service of rabbit grooming ($800 worth); we received the cash in 2017

16)    Jan 19 Paid Accounts Payable in full from 2017

17)    Jan 20 Received $2,200 cash from customers paying on their account

18)    Jan 21 Received a bill from the local radio station for advertising in the amount of $400

19)    Jan 22 Purchased 20 rabbits for $55 each on account from Eggs & Chicks Company; terms 2/5, n/30

20)    Jan 23 Paid freight costs from Eggs & Chicks Company of $10.

21)    Jan 25 Sold 10 rabbits to Bunny Tail Corporation for $260 each on account; terms 3/10, n/30

22)    Jan 26 Received payment in full from Bunny Tail Corporation

23)    Jan 27 Sold 10 rabbits to customers on credit for $260 each.

24)    Jan 28 Paid Eggs & Chicks Company for the purchase on Jan 22

25)    Jan 29 Petty cash was replenished and had the following receipts: gas receipt for $20, postage stamps for $39, Office Depot receipt for $16, miscellaneous receipt for $30, travel receipts for $40

26)    Jan 30 Performed a physical inventory count and counted only 1 rabbit on hand.

27)    Jan 30 Bank statement arrives today and there is a $20 bank service charge as well as a $120 NSF check.

28)    Jan 31 One month’s prepaid insurance needs to be expensed for January ($1,200 is for the whole year)

29)    Jan 31 Depreciate one month’s worth of the building and equipment (Using straight line method; building has a useful life of 20 years, equipment has a useful life of 5 years and no salvage value)

30)    Jan 31 The estimated bad debt expense under the percentage of sales basis is $120.

31)    Jan 31 Paid dividends of $500

Q2. Read the paragraph and answer the following (write it down on a paper)

"A bottled water company want to change how they are selling their product by the traditional method. They want from their customers to have the option to buy from them directly instead of buying their products through Supermarkets or grocery stores".

- What are the options the company can take to allow customers to buy directly from them?

- How can they create a value to attract more customers to buy directly from them?

- Is there any advantage of using Technological factors to achieve their goal?

Company ABC estimated revenue is 10 million in 2019 and 2% growth per year. Profit margin is stable annually and equals to 20%. Non-cash P&L items estimated at 12% of total sales. Company will purchase equipment at 2021 for 3 million. Interest expense is 800.000 annually and tax rate is 20%. Calculate FCFF for first 3 years. Explain the method you would use to calculate PV of future cash flows after year 3.

Using results, calculate value of the company if cost of capital is 5% and PV of future cash flows after year 3 is 14 million. Calculate the share price if there are 1 million outstanding shares. Would you invest in the company if market share price is 17$? Why?

Red Canyon T-shirt Company operates a chain of T-shirt shops in the southwestern United States. The sales manager has provided a sales forecast for the coming year, along with the following information:

• Each T-shirt is expected to sell for $18.
• The purchasing manager buys the T-shirts for $7 each.
• The company needs to have enough T-shirts on hand at the end of each quarter to fill 28 percent of the next quarter’s sales demand.
• Selling and administrative expenses are budgeted at $86,000 per quarter plus 15 percent of total sales revenue.

Required:
1. Determine budgeted sales revenue for quarters 1, 2, and 3.
2. Determine budgeted cost of merchandise purchased for quarters 1, 2, and 3.
3. Determine budgeted cost of good sold for quarters 1, 2, and 3.
4. Determine selling and administrative expenses for quarters 1, 2, and 3.
5. Complete the budgeted income statement for quarters 1, 2, and 3.

International Business

Chapter 12 - Management Focus: Ford’s Global Strategy

Summary

The Management Focus describes the changes in U.S. automaker Ford’s global strategy after former Boeing executive Alan Mulally was appointed CEO in 2006. At the time, Ford produced models targeted for specific regions of the world. Under Mulally’s leadership, Ford implemented its One Ford strategy that uses just a few car platforms to serve the entire world. Discussion of the closing can revolve around the following questions:  

QUESTION 1: How would you characterize the strategy for competing internationally that Ford was pursuing prior to the arrival of Alan Mullaly in 2006? What were the benefits of this strategy? What were the costs? Why was Ford pursuing this strategy?

QUESTION 2: What strategy is Mullaly trying to get Ford to pursue with his One Ford initiative? What are the benefits of this strategy? Can you see any drawbacks?

QUESTION 3: Does the One Ford initiative imply that Ford will now ignore national and regional differences in demand?

State whether or not the following items forn part of the assessable income of an Australian resident taxpayer under any provisions other than the capital gains tax provisions. Provide reasons for your answer including references to legislation,case law and any relevant ATO Guidance. a. A table purchases at a garage sale for $50 and sold for $200. b. Five-hundred shares in a company allotted at a price of $1 each to employee of the company. At the time of issue, shares of the company were being traded on the ASX at $1.50 but at the end of the year of income their price had dropped to $0.90. c. The profit on sale of investments by a life assurance company. d. A prize in a literary competition won by a journalist. e. A legacy bequeathed to a tax payer in considerationof his acting as an executor under a will.

the table gives a total U.S expenditure for health services and supplies selected years from 2000 and projected to 2018.

year $(billion)

2000 1264

2002 1498

2004 1733

2006 1976

2008 2227

2010 2458

2012 2746

2014 3107

2016 3556

2018 4086

a. find an exponential function model to these data, with x equal to the number of years after 2000. b) use the model to estimate the U.S expenditure for health services and supplies in 2020.

2.The percent of boys age x or younger who have been seually active are given below.

Age cumulative percent seuual active girls cumulative percent sexual active boys

15 5.4 16.6

16 12.6 28.7

17 27.1 47.9

18 44.0 64.0

19 62.9 77.6

20 73.6 83.0

a). Creat a logarithmic function that model the data using an input equal to the age of the boys.

b) use the model to estimate the percent of boys age 17 or younger who have been seually active

c. compare the percent that are sexually active for the two genders, what do you conclude.

3). if $12000 is invested in an account that pays 8% interest, compounded quaterly, find the future value of this investment

a) after 2 year. b) after 10 years.

4).if $9000 is invested in an account that pays 8% interest, compounded quaterly . find the future value of this investment

a) after 0.5 year b)after 15 years

5. Grandparents decide to put a lump sum of money into a trust fund on their gtanddaughters 10th birthday so that she will have $1000000 on her 60th birthday. if the fund pays 11% compounded monthly. how much money must they put in the account.

6.At the end of t years the future value of an investment of $25000 in an account that pays 12% compounded quaterly is

S=25000(1+0.12 /4t )^4t dollars.. a) How many years will the investment amount to $60000.