Special Journals

Bedrock Company completed these transactions during February of the current year using a perpetual inventory system. Purchases are recorded as of the invoice date to set the discount period.

[1] Normally cash sales are recorded daily, these are representative to reduce the number of repetitive entries.

You are working in a small, student-run company that sends out merchandise with university branding to alumni around the world. Every day, you take a sample of 50 shipments that are ready to be shipped to the alumni and inspect them for correctness. Across all days, the average percentage of incorrect shipments is 5 percent. What would be the upper control limit for a p-chart?

a. 0
b. 0.05
c. 0.03082207 d. 0.142466

1. The CSI Company is considering selling its School of Business to Harvard University. The proposed deal would require Harvard to pay CSI $30,000 and $25,000 at the end of years 1 and 2, and to also make yearly payments (at the end of the year) of $15,000 in years 3 thru 9. Harvard would make a final payment to CSI for $10,000 at the end of year 10. If the discount rate is 12% what is the present value of this series of payments?

Fundementals of human resource management

THE SOUTHERN WIDGET MANUFACTURING

Introduction

Founded in 2006, Southern Widget Manufacturing sets out to be the leading manufacturer of widgets in the world. Southern Widget has sales and distribution centers around the world including six centers in the US. The company is a member of the World Widget Manufacturing Association (WWMA).

Widgets are used as a display tool for several products including: PC, TV, auto parts, furniture, etc.

The Widget is a Bamboo based product making both environmentally and economically sound. Bamboo, like wood, is a natural composite material with a high strength-to-weight ratio useful for many applications Widgets it is considered one of the fastest-growing plants in the world.

Mission Statement

·       Provide a high-quality, affordable product

·       Create long term relationships with customers

·       Respond immediately to changing needs of customers

·       Achieve complete customer satisfaction

·       Improve our customer services continuously

·       Maintain excellent employee relations

·       Sustain community involvement

Vision

The vision at Southern Widget Manufacturing is to utilize our well trained and satisfied employee teams to deliver outstanding customer services.

Mission

At Southern Widget Manufacturing every person in our company is a member of the team and a team player, with expectations that they perform their duties to their fullest capacity and potential. Our objective is a commitment to the highest quality of widgets and customer service. The customer’s satisfaction is our major focus, reached through innovative and cost effective production. We will lead the Widget industry with well trained and satisfied employees and pleased customers.

1)    Francisco works at Southern Widget as a welder. Although he is provided with protective goggles and a face mask, overalls and other types of protective clothing are not provided. After three months of work at Southern Widget, Francisco notices his skin becoming drier and gradually changing color. Alarmed with this development, he approaches his supervisor asking for details of the materials he works with. The supervisor declines to reveal any kind of information. What authority and laws can help Francisco file a claim?

2)    Virginia's boss, Luke, constantly uses sexually explicit language while communicating with his female subordinates. Though many female employees are bothered with this behavior, no one has ever complained for fear of negative repercussions. However, Virginia files a complaint against Luke with the Equal Employment Opportunity Commission (EEOC). Will this be considered as discriminatory behavior? Why or why not? Explain the prohibitions under Title VII for related behavior.

3)    Policy 137: The paint booths contain many toxic chemicals and are possibly harmful to unborn fetuses. In an abundance of caution Southern Widget will not allow its female employees of child bearing age to accept a position in the painting area. Employees working in the paint area make $5.00 more than other production employees. Is this considered discrimination, what is this called? Explain

4)    Southern Widget employees are being asked for their opinion on which type of insurance they would like to have. The choices are HMO or PPO. Explain the difference as they differ from traditional health care providers? Pretend you are an employee and give you choice, explain.

5)    You have been asked to write a FLSA policy. Be sure to include the three major parts as it might relate to Southern Widget.

6)    Thomas a Production Foreman was terminated. He has filed a Company grievance. On April 2, Thomas was told to open discharge valves into the Mississippi River which he refused to do. Additionally, he has been told by the company President, with witnesses, that he was such a good employee he had a job for life. Southern Widget’s rebuttal is that he refused a direct order and the company’s policy clearly state, that there are no contract employees. Does he have a case on either point? Discuss and serve as the arbitrator with the decision.

7)    John, the company Custodian, was in a horrific car accident as a child but has fully recovered from his injuries and is considered a very healthy individual. During the accident, John was burned and still has several facial scars that have disfigured his face. Many employees at John's company stare as he walks by and get distracted by his appearance. Is John protected by the ADA? Explain.

8)    The Widget Operators Local Unions 621 filed a petition to have Southern Widget create an alternative dispute resolution, including the most common techniques. Is that a good idea for the company, if so, what how should it include?

9)    Southern Widget is preparing to announce a new compensation system. Before the system goes live, as the HR Training Supervisor, you are required to do a company training on what goes into a compensation system. You will need to explain and discuss issues like: job structure, pay levels, motivation, cost control, etc.

10) As a future Supervisor what did you learn about Human Resources that you did not know before taking this course? What will you do to include this knowledge in your supervisory role?

A Company’s management further explained that the tax-exempt interest and excludable dividends could not be used to offset losses generated by nonlife insurance operations of company. Company has earned a substantial amount of its tax-exempt interest and excludable dividends from funds held for future casualty and property claim payments. Company’s management believes that it is appropriate to recognize the tax benefit of the loss carryforward arising in the fiscal year ending November 30, 2011, in its November 30, 2011, financial statements. The company points out that it has elected consolidation for income tax purposes. This will mean that profitable life insurance company operations will offset nonlife insurance company losses. Also, it is expected that future operations of nonlife insurance companies will become profitable and start generating taxable income. Company does not anticipate a problem in the realization of the tax benefit of the operating loss carryforward within the newly enacted 20-year period.

What tax-planning strategies are available to Company for realizing the tax benefit of the operating loss carryforward?

What should Company do if it recognizes the deferred tax asset for the operating loss carryforward and then concludes it is more likely than not that realization of some or all of the deferred tax benefits will not occur?

For her daughter's university education, Carla Hackl has invested an inheritance in a fund paying 9.2% compounded quarterly. If ordinary annuity payments of $4750.00 per month are to be made out of the fund for 5 years and the annuity begins 9.75 years from now, how much was the inheritance?

*Read the introduction first, then read your friend's dialogue, and choose three responses from the (44) below as appropriate response to what the said:

Dealing with Drunken Friends

Whether a night ends safely for all concerned, or disastrously, often depends on what people say to each other and themselves at crucial moments in the night. The purpose of this dialogue is to give you practice and rehearsal at making life-enhancing and life-preserving comments to friends who are determined to drive home after drinking. Even if you are unsuccessful at keeping them from driving, saying things like those on the list you’ve been given would at least hopefully help you stand your ground and take care of yourself. If you can’t save others, at least save yourself. Use the responses below for each statement your friend makes, once you have used a response you may not use it again.   

1. ____I’d rather we call for help than try to drive ourselves home

2. ____I’d rather be late getting home than never get there

3. ____I don’t like the idea of driving home in this condition

4. ____I want us to be alive when tomorrow morning comes

5. ____I want every one of us to get home safely tonight

6. ____I don’t like risking our lives by driving home like this

7. ____I’m more scared of what will happen than I am of our parents

8. ____I’m sure kids who got into accidents said the same things

9. ____I’m sure kids who got killed thought the same kinds of things

10.____I don’t want any of us to get hurt or killed driving home tonight

11.____I don’t want any of us to die on some country road tonight

12.____I’m not going to worry about what my parents might do

13.____I don’t think anything they‘d do would be that big a deal

14.____I’ll survive anything my parents could possibly do to me

15.____I’ve survived grounding before and I’ll survive it again

16.____I’m sure they probably will be upset that we drank tonight, but…

17.____I think they’ll be glad we called instead of trying to drive home

18.____I think they’ll be glad we made it home safely instead of dying

19.____I’m not going to let what they might do scare me into driving

20.____I’d rather take my chances with my parents than with an accident

21.____I care enough about all of us to call instead of trying to drive

22.____I don’t want to end up like kids who got hurt or killed driving

23.____I’m not going to let what they might do stop me from calling

24.____I’m going to do what I think is best for us no matter what

25.____I don’t want to lose someone just to avoid getting into trouble

26.____I don’t want to make the same mistakes other kids have made

27.____I don’t think our parents are our real problem right now

28.____I know I can’t make you do anything, I can only ask you to

29.____I know you can do whatever you want and I can’t stop you

30.____I don’t want to end up in an emergency room tonight

31.____I don’t want to end up going to someone’s funeral because of this

32.____I don’t want us to become another statistic of drunk driving

33.____I would never want our parents to have to identify our bodies

34.____I think we made a mistake by drinking when we had to drive

35.____I don’t want to make an even bigger mistake by trying to drive

36.____I think we blew it by not selecting a designated driver before

37.____I’m ready to take whatever’s coming to me for drinking

38.____I’d rather deal with my parents than deal with being paralyzed

39.____I don’t want to be responsible for anyone getting hurt or killed

40.____I’d rather my parents find out from me than from a hospital

41.____I don’t want my parents getting that call that all parents dread

42.____I won’t put my parents through what others have been through

43.____I know I’m important to them even if they don’t always show it

44.____I know no matter how upset they get, they wouldn’t want to lose me

Friend: Let’s go, we’ve got to get home

You:

1

2

3

Friend: My parents will kill me if I’m late

You:

1

2

3

Friend: My parents will kill me if they find out I’ve been drinking

You

1

2

3

Friend: There’s no way I’m calling my parents

You

1

2

3

Friend: We’ll get grounded for the rest of our lives

You

1

2

3

Friend: Are you some kind of idiot?

You

1

2

3

Friend: You’ll get us all into trouble if you call your parents

You

1

2

3

Friend: You better not tell your parents we’ve been drinking

You

1

2

3

Friend: Nothing’s going to happen, trust me

You

1

2

3

Friend: We’ll be fine, we’ve done this before and made it

You

1

2

3

Friend: Fine, be a jerk, we’ll go home without you

You

1

2

3

Silvia is a teacher employed by SCHE Education at their Melbourne campus. She lives in Pakenham with her family on the outskirts Melbourne about 60 kilometres from the campus. Silvia only attends the campus on Thursdays and Fridays when she takes her classes and the remaining three days a week she works from home. She prefers to work from home because she dislikes the long commute and because she feels that she can research more effectively from home. She only sees students in her office at the campus on Thursdays and Fridays. All student contact on the other days is via email.

Silvia’s home office and work library occupies 20% of the total space in her home. Her outgoings in relation to her home for the current financial year are as follows:

• Rent – $31,200
• Electricity and heating costs – $1,600
• Cleaning lady – $2,500
• Home telephone (10% of which is for university use) – $2,000
• Mobile telephone bill (50% of which is for university use) – $1,250

Required:

Calculate how much of the above outgoings are a deductible expense for Silvia.