ou recently hired a young MBA who is advising you that you should grow more aggressively and who is suggesting that you should do so by acquiring other smaller companies. Your cookware and tableware importing business has been quite successful, but you are not sure that this new employee’s plan to acquire a series of cooking/kitchenware stores makes sense. What issues would you raise in discussing this proposal?

Assume the following scenario:

FreshPak Corporation manufactures two types of cardboard boxes used in shipping canned food, fruit, and vegetables.

a) By looking at their Sales Budget, the actuals sales in units was 480,000 which was below the budgeted 500,000 units. Provide 3 possible explanations for the variance in unit sales.

b)By looking at the Raw Materials Budget, assume the company uses raw materials for its boxes from trees supplied from sources within the Amazon. It is well established that the Amazon is a major producer of tree products to the United Stated and many countries in Europe, in fact the Amazon is the source of nearly 40% of the world supply. You hear on the news that there has been significant protest of the deforestation of trees in the Amazon as a result of concerns over global warming. Consequently, the United States has banned U.S. based companies from purchasing any byproducts of trees which are sourced from the Amazon. Describe how the ban of materials from the Amazon can affect the company’s operations, you must list 3 potential issues. What would you recommend to address the issues you have identified?

Please write 6-10 sentences for each question.

Managing the Ethical Implications of the Big BoxWalmart has had a tremendous impact upon our society. Its pervasive presence has affected communities all over the United States. The first Walmart store opened in 1962 in Rogers, Arkansas. By 1970, there were 38 stores with 1,500 “associates” (employees) and sales of $44.2 million. In 1990, Walmart became the nation’s number one retailer. In 2002, Walmart had the biggest single-day sales in history: $1.43 billion on the day after Thanksgiving. Today, Walmart is the world’s largest retailer with 2.1 million “associates” in more than 8,800 store and club locations in 15 countries and sales of $405 billion in the fiscal year ending January 31, 2010. Because of this impact, Walmart has been confronted with many ethical challenges.One of the challenges the huge retailer has faced is to have a positive impact upon the communities it enters. Whether Walmart has acted ethically may be a matter of perspective. Certainly, Walmart does much for the communities in which it operates, but it has also faced criticism than its economic impact limits the ability of local businesses to survive.By the end of the fiscal year ending January 31, 2010, the number of stores and distribution centers had grown from 3,368 to over 3,600, and the number of associates in the United States had grown from 1.04 million to 1.4 million. Here are the figures in the United States alone: Walmart and the Walmart foundation gave more than $467 million in cash and in-kind gifts in fiscal year ending 2010 (FYE ’10) – an $89 million increase over the previous year’s giving. At a time when food banks are being accessed more than ever, Walmart doubled donations to Feeding America, giving more than 127 million pounds of nutritious food to U.S. food banks, the equivalent of nearly 100 million meals (Walmart Corporate, n.d.-b). Walmart does fund a number of programs to support communities and local nonprofit organizations. In 2004, they claimed to have given the following:More than $88 million in community grantsMore than $265 million in 15 years for Children’s Miracle Network (CMN)More than $184 million in 19 years to United Way chapters$80 million in scholarships since 1979$1.7 million in Environmental Grants$3.1 million in Volunteerism Always Pays grants$20 million raised and contributed during the 2002 holidaysIn his book, In Sam We Trust, Bob Ortega (1998) suggested that Walmart is devouring America. Among other issues, Representative George Miller’s (D-CA) (2004) 25-page report by the Democratic Staff of the Committee on Education and the Workforce, U.S. House of Representatives, suggests that Walmart’s low wages and unaffordable of unavailable health care cost taxpayers money. In recent years, the downtown areas of Managing the Ethical Implications of the Big BoxWalmart has had a tremendous impact upon our society. Its pervasive presence has affected communities all over the United States. The first Walmart store opened in 1962 in Rogers, Arkansas. By 1970, there were 38 stores with 1,500 “associates” (employees) and sales of $44.2 million. In 1990, Walmart became the nation’s number one retailer. In 2002, Walmart had the biggest single-day sales in history: $1.43 billion on the day after Thanksgiving. Today, Walmart is the world’s largest retailer with 2.1 million “associates” in more than 8,800 store and club locations in 15 countries and sales of $405 billion in the fiscal year ending January 31, 2010. Because of this impact, Walmart has been confronted with many ethical challenges.One of the challenges the huge retailer has faced is to have a positive impact upon the communities it enters. Whether Walmart has acted ethically may be a matter of perspective. Certainly, Walmart does much for the communities in which it operates, but it has also faced criticism than its economic impact limits the ability of local businesses to survive.By the end of the fiscal year ending January 31, 2010, the number of stores and distribution centers had grown from 3,368 to over 3,600, and the number of associates in the United States had grown from 1.04 million to 1.4 million. Here are the figures in the United States alone: Walmart and the Walmart foundation gave more than $467 million in cash and in-kind gifts in fiscal year ending 2010 (FYE ’10) – an $89 million increase over the previous year’s giving. At a time when food banks are being accessed more than ever, Walmart doubled donations to Feeding America, giving more than 127 million pounds of nutritious food to U.S. food banks, the equivalent of nearly 100 million meals (Walmart Corporate, n.d.-b). Walmart does fund a number of programs to support communities and local nonprofit organizations. In 2004, they claimed to have given the following:More than $88 million in community grantsMore than $265 million in 15 years for Children’s Miracle Network (CMN)More than $184 million in 19 years to United Way chapters$80 million in scholarships since 1979$1.7 million in Environmental Grants$3.1 million in Volunteerism Always Pays grants$20 million raised and contributed during the 2002 holidaysIn his book, In Sam We Trust, Bob Ortega (1998) suggested that Walmart is devouring America. Among other issues, Representative George Miller’s (D-CA) (2004) 25-page report by the Democratic Staff of the Committee on Education and the Workforce, U.S. House of Representatives, suggests that Walmart’s low wages and unaffordable of unavailable health care cost taxpayers money. In recent years, the downtown areas of
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Managing the Ethical Implications of the Big BoxWalmart has had a tremendous impact upon our society. Its pervasive presence has affected communities all over the United States. The first Walmart store opened in 1962 in Rogers, Arkansas. By 1970, there were 38 stores with 1,500 “associates” (employees) and sales of $44.2 million. In 1990, Walmart became the nation’s number one retailer. In 2002, Walmart had the biggest single-day sales in history: $1.43 billion on the day after Thanksgiving. Today, Walmart is the world’s largest retailer with 2.1 million “associates” in more than 8,800 store and club locations in 15 countries and sales of $405 billion in the fiscal year ending January 31, 2010. Because of this impact, Walmart has been confronted with many ethical challenges.One of the challenges the huge retailer has faced is to have a positive impact upon the communities it enters. Whether Walmart has acted ethically may be a matter of perspective. Certainly, Walmart does much for the communities in which it operates, but it has also faced criticism than its economic impact limits the ability of local businesses to survive.By the end of the fiscal year ending January 31, 2010, the number of stores and distribution centers had grown from 3,368 to over 3,600, and the number of associates in the United States had grown from 1.04 million to 1.4 million. Here are the figures in the United States alone: Walmart and the Walmart foundation gave more than $467 million in cash and in-kind gifts in fiscal year ending 2010 (FYE ’10) – an $89 million increase over the previous year’s giving. At a time when food banks are being accessed more than ever, Walmart doubled donations to Feeding America, giving more than 127 million pounds of nutritious food to U.S. food banks, the equivalent of nearly 100 million meals (Walmart Corporate, n.d.-b). Walmart does fund a number of programs to support communities and local nonprofit organizations. In 2004, they claimed to have given the following:More than $88 million in community grantsMore than $265 million in 15 years for Children’s Miracle Network (CMN)More than $184 million in 19 years to United Way chapters$80 million in scholarships since 1979$1.7 million in Environmental Grants$3.1 million in Volunteerism Always Pays grants$20 million raised and contributed during the 2002 holidaysIn his book, In Sam We Trust, Bob Ortega (1998) suggested that Walmart is devouring America. Among other issues, Representative George Miller’s (D-CA) (2004) 25-page report by the Democratic Staff of the Committee on Education and the Workforce, U.S. House of Representatives, suggests that Walmart’s low wages and unaffordable of unavailable health care cost taxpayers money. In recent years, the downtown areas of Managing the Ethical Implications of the Big BoxWalmart has had a tremendous impact upon our society. Its pervasive presence has affected communities all over the United States. The first Walmart store opened in 1962 in Rogers, Arkansas. By 1970, there were 38 stores with 1,500 “associates” (employees) and sales of $44.2 million. In 1990, Walmart became the nation’s number one retailer. In 2002, Walmart had the biggest single-day sales in history: $1.43 billion on the day after Thanksgiving. Today, Walmart is the world’s largest retailer with 2.1 million “associates” in more than 8,800 store and club locations in 15 countries and sales of $405 billion in the fiscal year ending January 31, 2010. Because of this impact, Walmart has been confronted with many ethical challenges.One of the challenges the huge retailer has faced is to have a positive impact upon the communities it enters. Whether Walmart has acted ethically may be a matter of perspective. Certainly, Walmart does much for the communities in which it operates, but it has also faced criticism than its economic impact limits the ability of local businesses to survive.By the end of the fiscal year ending January 31, 2010, the number of stores and distribution centers had grown from 3,368 to over 3,600, and the number of associates in the United States had grown from 1.04 million to 1.4 million. Here are the figures in the United States alone: Walmart and the Walmart foundation gave more than $467 million in cash and in-kind gifts in fiscal year ending 2010 (FYE ’10) – an $89 million increase over the previous year’s giving. At a time when food banks are being accessed more than ever, Walmart doubled donations to Feeding America, giving more than 127 million pounds of nutritious food to U.S. food banks, the equivalent of nearly 100 million meals (Walmart Corporate, n.d.-b). Walmart does fund a number of programs to support communities and local nonprofit organizations. In 2004, they claimed to have given the following:More than $88 million in community grantsMore than $265 million in 15 years for Children’s Miracle Network (CMN)More than $184 million in 19 years to United Way chapters$80 million in scholarships since 1979$1.7 million in Environmental Grants$3.1 million in Volunteerism Always Pays grants$20 million raised and contributed during the 2002 holidaysIn his book, In Sam We Trust, Bob Ortega (1998) suggested that Walmart is devouring America. Among other issues, Representative George Miller’s (D-CA) (2004) 25-page report by the Democratic Staff of the Committee on Education and the Workforce, U.S. House of Representatives, suggests that Walmart’s low wages and unaffordable of unavailable health care cost taxpayers money. In recent years, the downtown areas of

many towns have been suffering as communities have become increasingly suburban. According to critics, Walmart often contributes to the decline of the downtown of small towns because they build stores at the outskirts of towns, drawing traffic away from the downtown areas.Small towns all over the country have felt the impact of Walmart. This is not a new phenomenon. Walmart began having a tremendous impact on communities in the 1980s. For example, by the late 1980s, Iowa had felt the effects of the growing retail giant. According to an article by Edward O. Welles (1993), “Iowa towns within a 20-mile radius felt [Walmart’s] pull. Their retail sales declined by 17.6% after five years” (para. 13).But it wasn’t just the retail stores that suffered. The specialty stores also felt the impact. The only hope for small merchants was to find a niche. Because of Walmart’s size and strength with suppliers (which has grown tremendously since the early 1980s), the burden has been on the small business owner to change and adapt. Even if they had successful businesses, providing the same goods and products for as long as 50 years, small merchants have been forced to adapt to survive as Walmart enters their territory.The impact can be brutal for business owners. “In exurban Sycamore, Brown County Market lost 40% of its sales after a Wal-Mart Supercenter opened in nearby DeKalb in the late 1990s” (Murphy, 2004, para. 8). The store’s owner laments one of the issues: “’I pay my grocery clerks $13 an hour plus benefits. Wal-Mart pays $7 an hour with no benefits.’ Says owner Daniel Brown. ‘It’s hard for me to compete against that’” (Murphy, 2004, para. 9). It is interesting to note, though, that 7 years later, Walmart’s corporate fact sheet (Walmart Corporate, n.d.-a) states that the average, full-time hourly wage for Walmart stores is $11.75. The fact sheet indicates it is even higher in urban areas and that associates can receive performance-based bonuses.Yet, Walmart has grown to be such a behemoth exactly because it has given customers what they wanted (or at least thought they wanted) – low prices and convenience. One can head to the local Walmart and do virtually all of one’s shopping in one huge building. It is often possible to find a reasonable substitution for those specialty items that can’t be found at Walmart. But if low prices are causing other local merchants to go out of business, are the conveniences that Walmart provides worthwhile in the long run? There is a whole other side to this community economic impact in terms of the economic spin-off of a dollar spent at Walmart versus a dollar spent at other local merchants. There have been myriad stories about low wages and minimal benefits provided to Walmart “associates,” not to mention the hiring of illegal aliens for the fact that China has become a major supplier for the retail giant that used to tout that it only carried products that were made in America.In 2004, Walmart’s average employee worked a 30-hour week and earned about $11,700 a year, which was nearly $2,000 below the poverty line for a family of three (Miller, 2004; Wal-Mart Watch, n.d.). Only 38% of “associates” have company-provided health coverage – as compared to the national average of over 60% (Miller, 2004; United Food and Commercial Workers Union [UFCW] Local 227, n.d.; UFCW Local 770, n.d.; Wal-Mart Watch, n.d.). According to the United Food and Commercial Workers (UFCW) International Union Local 227 (n.d.), “Wal-Mart has increased the premium cost for workers by over 200% since 1993 – medical care inflation only went up 50% in the same period.”Walmart claims to contribute to the well-being of communities. Between January 1996, the year Walmart began posting pictures of missing children in the lobbies of Walmart facilities, and January 2010, 10,409 children have been featured, and 8,716 have been recov3ered. It is clear that Walmart does much in the way of scholarships and philanthropy in addition to offering convenience and low prices. Walmart’s rhetoric centers on the three basic beliefs that Sam Walton established in 1962:1. Respect for the Individual2. Service to Our Customers3. Strive for ExcellenceDiscussion Questions – Choose ONE1. What does it mean for an organization to be ethical in its communication and practices?2. Does Walmart’s rhetoric communicate a different message than its actions?3. Are Walmart’s persuasive tactics concerning its value to a community ethical in approach and intention?4. How would you characterize the culture of Walmart?(Miller, 2004; Wal-Mart Watch, n.d.). Only 38% of “associates” have company-provided health coverage – as compared to the national average of over 60% (Miller, 2004; United Food

Wilkins Food Products, Inc., acquired a packaging machine from Lawrence Specialists Corporation. Lawrence completed construction of the machine on January 1, 2019. In payment for the machine Wilkins issued a three-year installment note to be paid in three equal payments at the end of each year. The payments include interest at the rate of 10%. Lawrence made a conceptual error in preparing the amortization schedule, which Wilkins failed to discover until 2021. The error had caused Wilkins to understate interest expense by $45,000 in 2019 and $40,000 in 2020.

Required:

1. Determine which accounts are incorrect as a result of these errors at January 1, 2021, before any adjustments. Explain your answer. (Ignore income taxes.)

2. Prepare a journal entry to correct the error.

3. What other step(s) would be taken in connection with the error?

2. Terry owns land that she acquired three years ago as an investment for $250,000. Because the land has not appreciated in value as she had anticipated, she sells it to her brother, Chris, for its fair market value of $180,000. Chris sells the land two years later for $240,000. What are the tax consequences for Terry and Chris?

3. Sam and Fran are married with 3 dependent children. They file a joint return in 2020. Their salaries totaled $175,000. They earned taxable interest income of $3,600. Fran received a cash gift from her parents of $10,000. Sam inherited stock from his uncle. At the time of his uncle's death the stock was valued at $20,000. The uncle's original cost basis was $12,000. Sam sold the stock for $23,000 on December 30th and received the proceeds on Jan. 2nd. What is Sam and Fran's tax liability?

Peter Russell proposes to sell his business to Tim Jones for $800,000. The business assets to be acquired include:

• trading stock $70,000
• debtors $40,000
• plant and equipment $150,000, and
• premises $400,000.

The balance, $140,000, represents goodwill.

It is proposed that the transfer of ownership will occur on 15 June 2020.

After the sale Peter Russell intends to retire.

Tim Jones is married with two teenage children, aged 14 and 17. Jones’ wife will work part-time in the business. Jones has $600,000 in cash and a house valued at $200,000, on which there is a $100,000 mortgage.

Required:        Advise Peter Russel as to the tax planning considerations involved in the disposal of the business. Please consider three or four issues, including any small business relief effective from 21 September 1999.

Please support your answer with any relevant case law or legislation.

On March 1, 202x, the XYZ Company acquired 40% of the voting stock of KLM Company for $6 million. The net worth of KLM book value is $10 million. The fair market value of the KLM assets and liabilities are equal except for a building with book value of $ 3 million has a fair value of $5 million

KLM reported net income of $2 million and made dividends distribution of 1 million during the year ending 12/31/202x. Assume xyz is using the equity method for the investment.

A. was there any good will in this transaction? How much?

B. Make the jounral entry to reflect the above transactions by xyz company during 2020

Assume XYZ uses straight line depreciation and 10 years economic life

Show the general ledger of "investment" account and ending balance by XYZ company on 12/31/20x

Chapman Company obtains 100 percent of Abernethy Company’s stock on January 1, 2020. As of that date, Abernethy has the following trial balance:

During 2020, Abernethy reported net income of $117,500 while declaring and paying dividends of $15,000. During 2021, Abernethy reported net income of $171,250 while declaring and paying dividends of $55,000.

Assume that Chapman Company acquired Abernethy’s common stock for $816,280 in cash. Assume that the equipment and long-term liabilities had fair values of $396,950 and $140,720, respectively, on the acquisition date. Chapman uses the initial value method to account for its investment.

Prepare consolidation worksheet entries for December 31, 2020, and December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

• Prepare entry S to eliminate stockholders' equity accounts of subsidiary.
• Prepare entry A to recognize allocations in connection with acquisition-date fair values.
• Prepare entry I to eliminate intra-entity dividends.
• Prepare entry E to recognize 2020 amortization expense.
• Prepare entry *C to convert parent company figures to equity method.
• Prepare entry S to eliminate stockholders' equity accounts of subsidiary for 2021.
• Prepare entry A to recognize allocations attributed to specific accounts at acquisition date for 2021.
• Prepare entry A to recognize allocations in connection with acquisition-date fair values.
• Prepare entry E to recognize 2021 amortization expense.

The following data relate to the Plant Assets account of Tamarisk Inc. at December 31, 2019:

Note: In the year an asset is purchased, Tamarisk does not record any depreciation expense on the asset. In the year an asset is retired or traded in, Tamarisk takes a full year’s depreciation on the asset.

The following transactions occurred during 2020:

Prepare any necessary adjusting journal entries required at December 31, 2020, as well as any entries to record depreciation for 2020.

(To record depreciation on Asset A) (To record disposal of Asset A) (To record depreciation on Asset B) (To record cost of Asset E) (To record depreciation on Asset E) (To record depreciation on Asset D)

the human resources department in BCC university want to hire for Fall 2020, 10 new instructors. You are requested to create job analysis for 2 positions, 1 for Business Instructor and 1 for Engineering Instructor. You need to include the following:

1- Job description for each position. (40 pts)

A job description is a written statement of what a jobholder does, how it is done, and why

2- Job specification for each. (40 pts)

The job specification states the minimum qualification that an incumbent must possess to perform a given job successfully.

3- Job Evaluation for each (20 pts)

specifies a minimum value (compensation) of each job in the organization