Kacy Spade, owner, invested $100,750 cash in the company. The company purchased office supplies for $1,250 cash. The company purchased $10,050 of office equipment on credit. The company received $15,500 cash as fees for services provided to a customer. The company paid $10,050 cash to settle the payable for the office equipment purchased in transaction c. The company billed a customer $2,700 as fees for services provided. The company paid $1,225 cash for the monthly rent. The company collected $1,125 cash as partial payment for the account receivable created in transaction f. Kacy Spade withdrew $10,000 cash from the company for personal use. Required:

1. Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; K. Spade, Capital; K. Spade, Withdrawals; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries.

2. Post the above journal entries to T-accounts, which serve as the general ledger for this assignment.

"Why won't they admit, they are wrong?" and other skeptics Mysteries.

4 Guidelines; (1)Ask questions, be willing to wonder. (2)Define your terms. (3)Examine the evidence. (4)Analyze assumptions and biases.

One of the greatest challenges for scientist and educators is how to persuade people to give up beliefs they hold dear when the evidence clearly indicates that they should. Why aren't most people grateful for the data? It's easy to make fun of others who won't give up ideas or practices that scientific research has shown to be demonstrably wrong --therapeutic touch, alien abduction, the Rorschach Inkblot Test --or beliefs in haunted houses and psychic detective skills that the skeptical inquirer keeps exposing as frauds or delusions. IT's harder to see that the mechanism that keeps all these people from admitting they are wrong afflicts us too --all of us, even skeptics. The motivational mechanism that underlines the reluctance to be wrong, to change our minds, to admit serious mistakes, and to be unwilling to accept unwelcome findings is cognitive dissonance was invented fifty years ago by Leon Frestinger, who defined "dissonance" as a state of tension that occurs whenever a person holds two cognitions that are psychologically inconsistent, such as “Smoking is a dumb thing to do because it could kill me” and “I smoke two packs a day.” Dissonance produces mental discomfort, a state that is as unpleasant as extreme hunger, and people don’t rest easy until they find a way to reduce it. Smokers can reduce dissonance either by quitting or by convincing themselves that smoking is not really so harmful. Hey, in fact, it’s beneficial, since it keep me from gaining weight. The Congressmen and ministers who preach that homosexuality is a sin and a choice reduce dissonance, when caught with male lovers, by saying, I am not "happy" –I was just under stress.

It is important to honesty express your views and thinking regarding the issues discussed, as well as any biases or beliefs you can think of that can help me. Thank you!

The 2010 General Social Survey asked 1,259 US residents: "Do you think the use of marijuana should be made legal, or not?" 48% of the respondents said it should be made legal.

1. The value 48% is a...

A. sample statistic
B. population parameter

2. Construct a 95% confidence interval for the proportion of US residents who think marijuana should be made legal, and interpret it in the context of the data. Round your results to 3 decimal places.

( , )

3. Identify each of the statements below as TRUE or FALSE.

? True False  1. There is a 95% chance that the proportion of US residents that approved of legalization falls within the interval computed in part 2.

? True False  2. The approval rating of 95% of US residents falls within the interval computed in part 2.

? True False  3. We are 95% confident that the true approval rate of US residents falls within the interval computed in part 2.

? True False  4. If we repeated this study many times, we would expect 95% of future intervals to contain the true approval rating of US residents.

? True False  5. If we repeated this study many times, we would expect the population proportion who approve of marijuana to fall within the interval computed in part 2 95% of the time.

4. A critic points out that this 95% confidence interval is only accurate if the statistic follows a normal distribution, or if the normal model is a good approximation. Is this true for these data?

? Yes No , because  ? there are at least 10 successes and 10 failures in the sample there are at least 20 combined successes and failures in the sample the population has more than 10 successes and 10 failures the sample of 1,259 is not large enough for the central limit theorem to apply .

5. A news piece on this survey's findings states, Majority of Americans think marijuana should be legalized.'' Based on your confidence interval, is this news piece's statement justified?

? Yes No , because  ? the confidence interval includes reasonable values for the parameter that are below 50% we did not conduct a hypothesis test the confidence interval includes reasonable values for the parameter that are above 50% this is an observational study and not an experiment .

PLEASE READ THE WHOLE THING AND ANSWER IN DETAIL

Consider figure the discussion on Erikson’s theory. Erikson’s idea is that we move through several stages throughout life, each characterized by a unique social issue. If we negotiate a particular stage in a healthy way, we will enter the next stage better prepared to do well during that stage. If not, we will enter the next stage with a real disadvantage.

I want to tell you of an episode in my father's life -- this one about the end of it. When my father was dying, he lay in his bed with all of us surrounding him, giving us charges, comforting us and assuring us of who we were. He told my son David, “David, there are many things in this world that have to change. Sometimes it takes just one person to stand and speak with conviction to change the course of events. There will come a time when you have to stand.” My dad just laid it on my son as a charge and gazed hard at him for a few moments. He did it for all of us, different things for each. We stayed with him for days, telling stories and remembering many good things until he was too weak to speak and just smiled and looked steadily at us and squeezed our hands, and finally died.

My father died with what Erickson called integrity. It’s when you gaze backward and say “That was good. I’m glad I was part of that. Life is rich and hard but it was good to have lived and to have loved those people and done those things.” I have known others, and I’m sure you have too, who have died in despair, cursing the world, saying it was all a cruel joke and they wished they’d never lived.

What do you suppose are some of the factors Erikson suggests would lead to someone reaching that state of integrity before they die? As you discuss this, concentrate especially on the preceding two stages of life. That is, what could happen during those preceding two stages that might lead toward integrity in that final stage?

The average height for a student in a class with n = 60 students is a random variable with an average height of 180 cm and standard deviation σ = 10. The individual heights which make up that average are i.i.d. (1) use Chebyshev’s inequality to find an upper bound for the probability that the average of the class (obtained from the individual student heights) is greater than 200cm. (2) Use Chebyshev’s inequality to upper bound the probability that the average height of a given student is above 195 centimeters. Additionally, (3) Use the CLT to approximate the probability that the monthly average (found from the average of each individual student height) is greater than 200cm.

A. Insurance coverage relies on the law of large numbers, meaning:

A. Events that are statistically difficult to predict for a specific individual are more predictable for a large number of individuals.

B. Events that are statistically difficult to predict for a large number of individuals are more predictable for an individual.

C. Insurers can adequately predict the losses expected for an individual, but are unable to predict the losses expected for large numbers of individuals.

B. Which of the following is not a category of property risk?

A. Loss of value from economic obsolescence.

B. Liability losses resulting from negligent use of property.

C. Loss of property due to fire, wind, theft, or others hazards.

Michelangelo Shoes was founded by Buonarroti Simoni in 1996 and has grown steadily over the years. Buonarroti Simoni now has 23 stores located throughout the Southern and Eastern parts of Australia. Buonarroti Simoni, born of migrant Italian parents, was an accounting major in college but loved high fashion shoes for men and women. He worked for a large regional CPA firm for 13 years prior to opening his first shoe store. He places a lot of value on internal controls. Further, he has always insisted on a state-of-the art accounting system that connects all of his stores’ financial transactions and reports. Buonarroti Simoni employs two internal auditors who monitor internal controls and also seek ways to improve operational effectiveness. As part of the monitoring process, the internal auditors take turns conducting periodic reviews of the accounting records. For instance, the company takes a physical inventory at all stores once each year, and an internal auditor oversees the process. Chris Chen, the most senior internal auditor, just completed a review of the accounting records and discovered several items of concern. These were: Physical inventory counts varied from inventory book amounts by more than 5% at two of the stores. In both cases, physical inventory was lower. Two of the stores seem to have an unusually high amount of sales returns for cash. In 10 of the stores gross profit has dropped significantly from the same time last year. At four of the stores, bank deposit slips did not match cash receipts. One of the stores had an unusual number of bounced cheques. It appeared that the same employee was responsible for approving each of the bounced cheques. In seven of the stores, the amount of petty cash on hand did not correspond to the amount in the petty cash account. Requirements For each of these concerns, identify a risk that may have created the problem. Recommend an internal control procedure to prevent the problem in the future. PLEASE PROVIDE ANSWER IN DETAIL AS IT IS REQUIRED FOR EXAM PREPARATION

EMPLOYEE DEVELOPMENT AT ESPN Entertainment and Sports Programming Network, known as ESPN, is in the global multimedia sports and entertainment business. To remain in its leadership role in the sports and entertainment business, ESPN needs to continue to provide the best live sports programming as well as expand and develop its digital presence through social media. To do so, ESPN recognizes the importance of creating exceptional employee experiences through its commitment to people, partnerships, culture, and excellence. Employee development plays a key role in helping to create exceptional employee experiences at ESPN. But employee development at ESPN faces several challenges. One challenge is the speed at which the global news, broadcasting, and entertainment business operates. This can make it difficult for employees to take the time away from activities such as producing and delivering programming to focus on development activities. Another challenge is that ESPN has reportedly been asked by its parent company, Disney, to cut as much as $250 million from this year’s budget. This likely will result in layoffs for 200–300 employees. ESPN has taken several steps to ensure that its development efforts overcome these challenges and support employees’ career interests and goals, enhance their skills, and grow top leadership talent. ESPN requires every employee to complete an individual development plan (IDP). The IDP helps employees consider where they currently are in their careers, their career goals, and how they plan to reach their career goals. The learning function at ESPN reviews and supports the IDP, which has been completed by over 95% of employees. Similar to other companies, ESPN uses the 70-20-10 approach to development. This means that most employee development occurs on the Page 418job, whereas 20% comes from relationships and informal learning, and 10% from formal courses targeted at specific skills. For example, ESPN has a Leadership GPS, which is a tool used by employees to track their development progress. The Leadership GPS helps employees set development goals. It also provides advice on which types of development activities (such as courses, job shadowing, or experiences) are available and will help them meet their goals. ESPN The University offers courses related to different business areas, which are taught by executives and business leaders. This is important because its gets company leaders from different business areas involved in developing employees. It also helps to provide employees with a greater understanding of the different aspects of ESPN’s business such as production, programming, and HR and how they fit together. ESPN Center Court is a development program targeted exclusively to high-potential employees who are on the fast track to future leadership roles in the company. Center Court uses job rotations to give high-potential employees the opportunity to experience different aspects of the business. They also interact with the company’s president and top executives. To facilitate development through relationships, ESPN has a mentoring program known as Open Access that is available to all employees. The only requirements are that employees desire to learn from others and want to build relationships to achieve their development goals. To ensure that development activities support business needs, ESPN has a learning and advisory board, which includes senior leaders and vice presidents from its different businesses. Every major initiative is reviewed and has to receive support from the board before it is implemented. Also, the Employee Learning Council, which includes employees from each of ESPN’s business units, provides feedback and helps to plan development programs.

How could ESPN identify employees with the potential for top leadership positions?

Managing diversity in a Chinese-owned multinational IT firm

Company background

Established in 1988 in Beijing, Lenovo Group Limited (formerly known as ‘Legend Group Limited’) is the largest IT enterprise in China. Lenovo employs some 25,000 staff in all its operations in nearly 70 countries, but with the majority of employ- ees working in China. In 1984, with an initial capital of RMB 200,000 funded by the Chinese Academy of Sciences, a government-funded institution, 11 researchers formed the parent company of Lenovo. It was the first company to introduce the concept of the home computer in China. Lenovo’s main business activities are in the sale and manufacturing of desktop computers, notebook computers, mobile handsets, servers and printers. Lenovo is a stock-listed company, with the Chinese government holding over a quarter of its shares. In April 2003, the group adopted a new logo and the English brand name ‘Lenovo’, replacing the original English brand name ‘Legend’ in order to appeal to the international market. The English company name was also officially changed to ‘Lenovo Group Limited’ a year later. In December 2004, Lenovo spent US$1.25 billion to acquire IBM’s PC business. This was the largest cross-border acquisition in China’s IT industry (China Business, 13 December 2004). The acquisition process was completed in May 2005. The marriage of IBM and Lenovo created one of the world’s largest PC powerhouses. IBM possessed strong competitive advantage in the higher end of the customer market in its distribution channel, high quality customer resources, which complemented that of Lenovo. The two companies have main- tained a long-term cooperative strategy since the acquisition, with Lenovo having access to some of IBM’s key resources, such as technology, sales force, PartnerWorld, Global Finance and IBM Credit. The continuing expansion and globalization of Lenovo has brought a number of challenges to its HRM function, including the alignment of corporate HR strategy and DM after the acquisition of IBM’s PC business. Below are some of the issues that illustrate the challenges.

Managing foreign employees in China

Lenovo’s growing global presence in the IT sector has in recent years attracted an increasing number of non-Chinese citizens who wish to work in its operations in China. This is in part because they want to spend time in China to gain wider work experience and a deeper understanding of the country. These foreign citizens are employed by Lenovo under the same employment conditions as those offered to Chinese citizens. Free working meals and company-subsidized accommodation are some of the benefits that Lenovo offers its employees. These are traditional and typical workplace welfare provisions of Chinese firms. Under the housing scheme, newly recruited single employees are provided dormitory accommodation. Since housing is expensive in Beijing, this often takes the form of one bedroom shared by a few employees of the same gender. This arrangement is normal and acceptable to Chinese employees – Chinese students also share their dormitories in schools and universities, and in sweatshop manufacturing plants the situation is far worse where ten or more rural migrant workers are crowded in a room with poor facilities. However, foreign employees, though only very small in number compared with the Chinese employees, find it difficult to get used to this idea because of the lack of privacy. Lenovo (China) has no special policy to accommodate their needs. Different management style is another source of cultural shock to foreign employees. According to an HR manager, foreign employees all emphasize their cultural shock when they come to China. However, Lenovo (China) has not developed a formal policy to manage these cultural shocks. This has led to the turnover of a few of the foreign employees and the company has made no effort to retain them.

Managing Chinese graduate returnees from overseas

Since the early 2000s, an increasing number of Chinese who went abroad for their higher education have been returning to China to seek employment and career development. The majority of Chinese overseas graduate returnees (known as haigui in China) are keen to work for multinational firms, and are often the favourite candidates. Lenovo is among the top employers of choice for which haiguis want to work. These repatriated Western educated and trained graduates bring with them different life styles, perspectives and (often unrealistic) expectations that may depart from Chinese norms. Some of them are said to be complacent and consider themselves superior to other graduate employees who have not been abroad for education or training. They expect high salaries up front, fast promotion, flexibility and autonomy in their work. Turnover is common among haiguis when expectations are unmet or better offers are available elsewhere. How to recruit and manage overseas graduate returnees effectively is an important issue for MNCs operating in China. Companies are now reportedly more cautious in recruiting and managing these returnees because they are seen as ‘demanding’ employees who are difficult to retain. Lenovo shares some of these issues. Although turnover has not been a major problem, how to harmonize the relationship between haiguis and home- grown graduate employees is sometimes a challenge for line managers.

Gender equalities

Prior to Lenovo’s acquisition of the IBM PC business unit, Lenovo had more women at the senior management level. The proportion of women in senior management has actually declined since the acquisition because it is now part of a bigger inter- national operation. Two main reasons are attributed to this change. One is that there is a lower proportion of women at senior management level in the acquired business unit of IBM than in the Chinese operation. Another reason is that Lenovo has been through successive rounds of senior management restructuring after the acquisition, partly to do with the post-acquisition integration and partly to do with the poaching of senior managers among IT firms in China. Cultural clashes triggered by the post-acquisition integration have led to the departure of a number of senior managers. When new managers are recruited, they tend to bring their own people and HR initiatives with them, which will later be displaced by their successors when those managers depart. As an HR director observed, ‘It is organizational politics, rather than equal opportunities, that we consider in the recruitment of senior managers. You need to be competent as well as well connected to get the senior management’s job, and men tend to be better connected than women in the IT sector in general.’

Developing a global diversity management strategy

According to informants from Lenovo (China), diversity is not a key issue in the workforce in China. Therefore, it is not a priority of the company. The major task is post-acquisition integration to align the organizational cultures and become a truly international company. Nevertheless, Lenovo (China) does emphasize the need for employees to respect other employees’ rights and privacy. Aggressive or discriminaory behaviours are forbidden, even as jokes. These expectations are written in the business conduct guidelines for employees. However, Lenovo (China) does not have any specific equal opportunities or diversity management programmes to enforce these clauses. The acquired business unit of IBM has good HR practices, for example, WLB and DM. These have not yet been transferred to the Chinese operation due to staff shortages. There was a corporate initiative (stimulated from the US side) about grouping women at international level together to have a global forum to discuss diversity issues in 2006. Unfortunately, budget constraints meant that the plan was set to one side. The HR directors from Lenovo (US) are well aware of the challenge they face in transferring their US-developed diversity management programme to other branches across different countries and cultures. The US HR team are the people who are familiar with the concept and responsible for promoting its global diffusion, and they are approaching the task with extreme caution. This is in part, as they admit- ted, due to their unfamiliarity with the local environments in different parts of the world, although they are planning to visit Lenovo (China) for the first time. How to accommodate the diversity of the global workforce and leverage it to enhance the performance of the firm on the one hand, and how to develop a strong corporate culture that all employees will identify with on the other hand is their main HR con- cern, and a solution has yet to be found. According to all managerial informants, the corporate priority is talent management. A new scheme called ‘Mobility Plan’ has been implemented at the international level. The purpose of the plan is to give managers an opportunity to work overseas to gain international experience to be able to lead at a global level. It is not aimed at Chinese managers in principle, but in reality has mainly involved sending Chinese managers to the US for development.

Questions:

1: Identify and explain the main issues in this case study

2. What are the key issues of diversity management in this case study and how are they manifested?