COMPREHENSIVE PROBLEM Sam started Samuel Technology Service in February, 2015. The following transactions occurred in March, 2015: Mar 1 Received cash from customers on account, $ 3,500. 2 Paid cash for advertising on a local website, $ 600. 3 Received cash from customers as an advance payment for technical support services to be provided in the future, $ 5,000. 6 Paid technician $ 1,500 in salary, including the amount owed at the end of February. 8 Paid $ 800 on account. 12 Billed customers for services provided on account, $ 12,200. 16 Received $ 7,750 cash for fees earned for jobs completed. 17 Paid technician $ 1,500 in salary. 18 Purchased supplies on account, $ 800. 20 Received $ 16,400 cash for fees earned for jobs completed. 21 Billed customers for services provided on account, $ 6,400. 23 Received cash from customers on account, $ 19,000. 26 Paid phone bill for the month, $ 240. 28 Paid electricity bill for the month, $ 580. 30 Billed customers for services provided on account, $ 7,800. 31 Received cash from customers on account, $ 10,200. 31 Sam withdrew $16,000 for personal use. INSTRUCTIONS: 1. The chart of accounts and the post-closing trial balance as of February 28, 2015 are given. For each account in the post-closing trial balance, enter the balance in the appropriate Balance column of the ledger. Date the balances March 1, 2015, and place a check mark ( ✓ ) in the Posting Reference column. 2. Journalize each of the March transactions in the journal provided using Samuel Technology Service’s chart of accounts. (Do not insert the account numbers in the journal at this time). 3. Post the journal to the ledger. (Enter posting references now). 4. Prepare an unadjusted trial balance. 5. At the end of March, the following adjustment data were assembled. Use this data to complete instructions ( 5 ) and ( 6 ): a. Supplies on hand were $ 1,200. b. Rent expired during the month was $ 3,200. c. Unearned fees at the end of the month were $ 4,000. d. Insurance expired during the month was $ 600. e. Accrued salaries payable were $ 480. f. Depreciation on equipment during the month was $ 660. 6. Optional: Enter the unadjusted trial balance on an end-of-period spreadsheet/worksheet and complete the worksheet. (extra credit +5 points if completed & correct). 7. Journalize and post the adjusting entries. 8. Prepare an adjusted trial balance. 9. Prepare an Income Statement, Statement of Owner’s Equity, and Balance Sheet. 10. Record and post the closing entries. Indicate closed accounts in the ledger by inserting a line in both of the Balance columns opposite each closing entry. 10.Prepare a post-closing trial balance. SAMUEL TECHNOLOGY SERVICE CHART OF ACCOUNTS 11 Cash 12 Accounts Receivable 14 Supplies 15 Prepaid Ren t 16 Prepaid Insurance 18 Office Equipment 19 Accumulated Depreciation 21 Accounts Payable 22 Salaries Payable 23 Unearned Fees 31 Sam OlinCapital 32 Sam Olin, Drawing 41 Fees Earned 51 Salaries Expense 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense 55 Insurance Expense 59 Miscellaneous Expense SAMUEL TECHNOLOGY SERVICE POST-CLOSING TRIAL BALANCE FEBRUARY 28, 2015 DEBIT CREDIT Cash 44,200 Accounts Receivable 6,800 Supplies 2,700 Prepaid Rent 6,400 Prepaid Insurance 3,000 Office Equipment 29,000 Accumulated Depreciation 660 Accounts Payable 1,600 Salaries Payable 240 Unearned Fees 5,000 Sam Olin, Capital 84,600 Total 92,100 92,100

1. Why is there so much variety in loan documentation among the various states? Would a uniform national system be useful? Explain why or why not.

2. What is to keep an unscrupulous seller under an installment contract from mortgaging the property after the installment contract has been negotiated, so that the buyer discovers a first mortgage lien on the property when the deed is eventually delivered?

3. There were very few successful mortgage loan innovations in this country during the 1950s and 1960s. Then, the following two decades witnessed a spate of innovations. What might have caused this abrupt shift in the rate of innovation?

Suppose we all agree that the emission of carbon into the atmosphere is a policy problem
.Further, assume we know that the private marginal cost of a ton of Co2 is $17
while the true social marginal cost of a ton of carbon is $32. Clearly layout a policy of
carbon taxes that would result in the socially optimal level of carbon emissions.
Demonstrate your argument graphically and carefully explain. Evaluate the relative costs
and benefits of carbon taxes relative to emission targets/restrictions. How would your
analysis change if you believed innovation in carbon saving technologies was going to
improve in the near future?

QUESTION 38

1. With regard to the ability of humans to grow very large crop yields to feed very large populations, what innovation had the biggest effect?

   		domestication of large animals
   		cross breeding of different strains of cereal grains and rice to increase yields
   		The Haber-Bosch process (artificial nitrogen fixation)
   		crop irrigation

10 points   

QUESTION 39

1. From an economics and conservation perspective, how does being a vegetarian benefit the biosphere?

   	1.	energy efficiency
   	2.	increased biodiversity
   	3.	increased health and lifespan of the consumer
   	4.	it is a strictly ethical consideration: eating animals is not ethical

A company such as Intel has a complex design and manufacturing process. This should lead Intel management to be concerned with scale of production and learning curves.

When do you think managers should be more concerned with large-scale production runs, and when do you think they should be most concerned with practices that would foster or hinder the hiring, training, and retention of key employees?

Describe a firm you think has been highly innovative. Which of the four types of innovation— radical, incremental, disruptive, or architectural— did it use? Did the firm use different types over time?

Organizing issues concern the size, degree of centralization, and hierarchy of the R and D area in the corporation and how it relates to operations, finance, and marketing. Discuss how these factors influence innovation in one of the WSJ cases below. You may have to do additional research.

Booming Interest in Zoom Cocktail Hour Comes With Corporate Hangover

Coronavirus Lockdowns Prompt Restaurants to Rethink Delivery

Sports Industry Reels From Coronavirus Fallout

Corporate Boards Suffer ‘Experience Gap’ as Coronavirus Upends Business

Tech’s Next Disruption Target: The Coronavirus

Covid-19 was a Leadership Test. It Came Back Negative.

Your Neighborhood Community Bank recently decided to adopt a balanced scorecard system of performance evaluation. There is a list of primary performance goals for four major performance categories that have been identified by corporate executives and the board of directors.

Learning and Innovation (improve market differentiation)

Be quicker in the introduction of new products to the market than competitors

Introduce innovation products to customers for enhancement of customer service

Receive recognition in the industry as an innovator

Internal Perspective (improve internal processes)

Enhance employee promotion opportunities

Achieve best practices for processing transactions

Improve employee satisfaction

Customer Perspective (maintain and grow the customer base)

Elevate customer satisfaction

Increase the number of depositors and customer retention

Improve the quality of deposits

Financial Perspective (maintain and grow the bank financially)

Expand customer deposits

Manage financial risk

Generate profits for stockholders

Requirements:

For each of the 12 goals above suggest at least one measure of performance to measure the achievement of the goal.

Address the following questions related to the role of the balance scorecard within an organization like the one described above:

1) How does the Balanced Scorecard help to focus managers’ attention on strategy?

2) How does a Strategy Map support the Balanced Scorecard’s purpose? It represents a cause-and-effect diagram of the relationship among the BSC perspectives.

3) Name and briefly explain how two cost management techniques covered in this course can be used to enhance the customer satisfaction element of the Balanced Scorecard?

Knowledge

• Describe the process of identifying, developing and implementing a business idea
• Outline the principles and processes of strategic management

Skills

• Assess the viability of a business venture from idea conception to implementation of the business plan
• Develop a strategic plan which will build a competitive advantage for a new business venture

Attitudes

• Justify the need for entrepreneurs based on their contributions to job creation in a society
• Value constructive criticism in decision-making for assessing entrepreneurial business ideas
• Relate your acceptance of entrepreneurial ideas that are beneficial to an organization
• Accept the need for the continuous renewal and change of a business for successful entrepreneurship

Discussion Description and Instructions:

As the owner of a year-old Dog Spa and Grooming business, you recently engaged in a time of reflection on your entrepreneurial journey. Having completed the reflective process, it is now clear to you that entrepreneurship requires the application of creativity and innovation to solve problems and capitalize on recognized opportunities. For this assignment you are required to do the following:

1. Discuss what entrepreneurship mean to you and describe two (2) entrepreneurial traits/characteristics you possess. Use examples from your life experience to support each trait/characteristic.
2. Identify one (1) innovation you currently enjoy and discuss how it adds value to your life.
3. Develop two (2) innovative strategies to enhance creativity at your Dog Spa and Grooming business.

4. Read and respond to the posts made by at least two (2) of your peers.

Please use definitions, concepts, descriptions and literature from your learning materials and research in your contribution.

Laura Leasing Company signs an agreement on January 1, 2020, to lease equipment to Metlock Company. The following information relates to this agreement.

Click here to view factor tables.

Prepare all of the journal entries for the lessee for 2020 to record the lease agreement, the lease payments, and all expenses related to this lease. Assume the lessee’s annual accounting period ends on December 31. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round answers to 2 decimal places, e.g. 5,265.25. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)