Jerry Ltd a UK company sells Standard Rated and zero ratedgoods in UK and exports to overseas. Also, Jerry Ltd purchases standard rated goods and zero rated goods from UK suppliers and from overseas. On 1 January 2020, Jerry Ltd has registered for VAT based on compulsory Registration.
The following transactions occurred during the quarter ended 31 March 2020:
|
Car no. 1 |
Car Costing £20,000 (including VAT) for the Director of the company, who uses the car both for personal and business purposes. |
|
Car No. 2 |
Car Costing £18,000 (including VAT) for the Salesman, who uses the car fully for business purposes. |
Note: If not mentioned specifically, all figures are VAT exclusive.
You are required to
(13 marks)
(word count = 100 words)
In: Accounting
Purpose Ltd manufactures and sells plastic storage containers through associated retail outlets throughout Australia. To compete more effectively it has recently introduced a budgetary control system to assist with planning and control of operations. Detailed below is the original static budget set at the start of the month, actual performance figures and the flexed budget for their most popular storage container sold for the month of December 2018,
BUDGET (static) ACTUAL FLEXED
Output (production and sales) 3000 Units 4,500 Units 4,500 Units $ $ $
Sales $45,000 $65,250 $67,500
3000 @ $15 4500 @ $14.50 4,500@ $15
Raw Materials. ($18,000) ($25,200) ($27,000)
36,000 units 56000 units 54,000 units
@50c p u @45c p u @50c p u
Labor ($6000) ($8280) ($9,000)
300 hours 460 hours 450 hours
@$20 ph @18 ph @$20 ph
Fixed Overheads ($5,000) ($6,900) ($5000)
Operating Profit $16,000 $24,870 $26,500
REQUIRED:
(a) Describe the purpose and benefits of the flexed budget in identifying deviations from planned performance. (limit 80 words)
(b) Based on information above , reconcile the operating profit under a static budget to the actual operating profit breaking down the reconciliation and identifying the following favorable and unfavorable variances:
• Sales Volume Variance
• Sales Price Variance
• Materials Usage Variance
• Materials Price Variance
• Labor Usage Variance
• Labor Rate Variance
• Fixed Overhead Spend Variance
Show full workings as to how you calculated each of the above variances
(c) Assuming that the budgets above were all accurately set in terms of labor times and rates and material usage and price, suggest one feasible cause for each variance you have identified in (b) from what you know about the company and appreciating the business has produced and sold 50 percent more than initially anticipated under the static budget. As part of your answer focus on explaining why a favorable variance in one area might explain an unfavorable variance in another area – interrelationships and the possible tradeoff between variances in attempting to meet budgeted targets.(140 word limit)
In: Accounting
Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders’ equity accounts of Morrow Enterprises Inc., with balances on January 1, 20Y5, are as follows:
| Common Stock, $20 stated value (500,000 shares authorized, 375,000 shares issued) | $ 7,500,000 |
| Paid-In Capital in Excess of Stated Value—Common Stock | 825,000 |
| Retained Earnings | 33,600,000 |
| Treasury Stock (25,000 shares, at a cost of $18 per share) | 450,000 |
The following selected transactions occurred during the year:
| Jan. | 22 | Paid cash dividends of $0.08 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $28,000. |
| Apr. | 10 | Issued 75,000 shares of common stock for $24 per share. |
| Jun. | 6 | Sold all of the treasury stock for $26 per share. |
| Jul. | 5 | Declared a 4% stock dividend on common stock, to be capitalized at the market price of the stock, which is $25 per share. |
| Aug. | 15 | Issued the certificates for the dividend declared on July 5. |
| Nov. | 23 | Purchased 30,000 shares of treasury stock for $19 per share. |
| Dec. | 28 | Declared a $0.10-per-share dividend on common stock. |
| 31 | Closed the two dividends accounts to Retained Earnings. |
| Required: | |||
| A. | Enter the January 1 balances in T accounts for the stockholders’ equity accounts listed. | ||
| B. | Journalize the entries to record the transactions and post to the eight selected accounts. No post ref is required in the journal. Refer to the Chart of Accounts for exact wording of account titles. | ||
| C. | Prepare a retained earnings statement for the year ended December 31, 20Y5. Assume that Morrow Enterprises had net income for the year ended December 31, 20Y5, of $1,125,000. For those boxes in which you must enter subtractive or negative numbers, use a minus sign. The word “Less” is not required.* | ||
| D. | Prepare the Stockholders’
Equity section of the December 31, 20Y5, balance sheet. For those
boxes in which you must enter subtractive or negative numbers use a
minus sign. *
|
In: Accounting
In: Computer Science
In: Chemistry
Complete Case Incident 1, Questions 9-28, 9-29, and 9-30 on page 316 in textbook. Explain how you can relate the assigned scripture reading to this exercise. Your responses should be submitted in a minimum 375-word essay.
CASE INCIDENT 1 The Calamities of Consensus
When it is time for groups to reach a decision, many turn to consensus. Consensus, a situation of agreement, seems like a good idea. To achieve consensus, groups must cooperate and collaborate, which ultimately produces higher levels of camaraderie and trust. In addition, if everyone agrees, the prevailing wisdom says that everyone will be more committed to the decision.
However, the need for consensus can sometimes be detrimental to group functioning. Consider the “fiscal cliff” faced by the U.S. government toward the end of 2012. The White House and Congress needed to reach a deal that would reduce the swelling budget deficit. However, many Republicans and Democrats stuck to their party lines, refusing to compromise. Many viewed the end product that achieved consensus as a less-than-optimal solution. The public gave Congress an approval rating of only 13 percent, expressing frustration with the lack of compromise, but the group may not have been able to function well partly because of the need for consensus in the face of partisanship.
If consensus is reached, does that mean the decision is the right one? Critics of consensus-based methods argue that any decisions ultimately reached are inferior to decisions using other methods such as voting or having team members provide input to their leader, who then makes the final decision. Critics also argue that, because of pressures to conform, groupthink is much more likely, and decisions reached through consensus are simply those everyone dislikes the least.
Questions
9-28. Is consensus a good way for groups to make decisions? Why or why not?
9-29. Can you think of a time when a group of which you were a part relied on consensus? How do you think the decision turned out?
9-30. Martin Luther King Jr. once proclaimed, “A genuine leader is not a seeker of consensus but a modeler of consensus.” What do you think he meant by that statement? Do you agree with it? Why or why not?
In: Economics
Goal: in this lab, you will learn to configure sudo to allow a
user mrussell to change
password for users. Please follow the steps and answer all the
questions at the end of
the lab instruction.
In the Linux machine
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
1. For this part you will need a 2nd normal user
(non-root) account. If you don't have
an account for "auser" with password “room1202” yet, you can create
one by
running (as room1202):
$ sudo useradd -c "A User" auser
$ sudo passwd auser
2. Login as room1202, run the $ sudo visudo to
edit the configuration file for sudo
to allow a normal user account (mrussell is used below) to change
passwords for
users. The new entry should look like this (tab key as column
dilimeter):
mrussell ALL = /usr/bin/passwd
3. Login as mrussell. What happened, if you use
passwd to try to lock the account
for auser as follows:
$ passwd -l auser
4. Now try it again using sudo. This is done by
running the command as normal
but with the word sudo in front:
$ sudo passwd -l auser
What output did you see from sudo? Did you lock the account this
time? (Check
with sudo passwd -S auser.)
5. Try to unlock the account without using
sudo:
$ passwd -u auser
What output did you see this time? Is the account unlocked
now?
6. Unlock the account using sudo. What happened
this time?
7. Using what you have learned about finding and
reading system documentation,
enable the user mrussell to run the following command
$ sudo sudoedit /etc/hosts
Questions:
1. What file does the command visudo actually edit? (20pts.)
2. Compare the outputs from step#3 with those from step#4. What
caused the
difference? (20pts.)
3. What output did you see in step#5? Then run sudo passwd –S auser
and descript
what you see. (20pts.)
4. What output did you see in step#6? Then run sudo passwd –S auser
and descript
what you see. (20pts.)
5. Save a screenshot in your report to prove that, on your system,
you have
successfully completed step 7. (20pts.)
In: Computer Science
Scenario/Summary
A confidence interval is a defined range of values such that there is a specified probability that the value of a parameter lies within the interval.
pick a topic, complete research and provide a write-up that includes calculations. Round all values to two decimal places when appropriate.
Deliverables
Examples of Topics
Open a Word Document
In: Statistics and Probability
1.
We are all may be here for a different reason - some of us need the general education requirement, some are fulfilling a program requirement, and some may find the material interesting! Either way, I'm sure that we all come into this class with a preconceived view about the field of psychology.
So...what do you think? Are psychologists just those bearded, white-haired old timers who nod at your every word while judging everything you say!? Do you have a preconceived notion of what this field is all about? Here are a few questions to get you discussing your thoughts about the field.
A. What comes to mind when thinking about the field of psychology?
B. What names come to mind when thinking of the field?
C. What do you think psychologists do? After you state what you think they do, find out what they really do (either cite our text or look online at apa.org). In other words, do your expectations match reality? Also, include an area that surprised you in your reading - what made you say: "wow, I didn't know they did this!"
2.
As our text describes, the history of psychology is full of great discoveries and advances. Our history is also marred with a number of unethical approaches to observing and assessing human behavior. For this discussion post I would like you to choose one study (for example you could choose; Henrietta Lacks or the Tuskegee experiment) that demonstrated an unethical approach to studying the mind and behavior and or human body.
Be sure to:
(A). What happened in the study - give details of the timeline, the population studied, and what was done.
(B). Name at least 2 ways in which this study was unethical and what underlining ethical principle(s) were violated.
(C). In what ways could this study have been completed ethically? In other words, could anything have been changed to study the same objectives in an ethical way?
(D). What's your take on this study? How did you react when reading about it? What do you think lead the researchers to conduct such a study?
In: Psychology
In: Operations Management