Questions
A university has 7 departments namely, IT, Finance, HR, Management, Faculty, students and R&D. The university...

A university has 7 departments namely, IT, Finance, HR, Management, Faculty, students and R&D. The university also has an ADSL internet connection which is shared for the different departments. It is required that all the departments should have intercommunication via LAN. Each of the department contain 50-200 users. As the case everywhere, the students and the staffs need to have access to Wi-Fi connectivity as well. The university campus contains 3 different buildings located nearby, having 2, 3 and 4 floors each. You are asked to design of a network infrastructure for a university, focusing on the following aspects.  The network architecture model you will be choosing.  The switching and routing requirement  The IP Design schema for the department.  Design with VLAN  The security measures taken for both the wired and wireless network.  The Wi-Fi design as required for the university. The final network infrastructure may be created in packet tracer or any familiar tools available. You may create the model in a word file too, by indicating all the information clearly.

In: Computer Science

A university has 7 departments namely, IT, Finance, HR, Management, Faculty, students and R&D. The university...

A university has 7 departments namely, IT, Finance, HR, Management, Faculty, students and R&D. The university also has an ADSL internet connection which is shared for the different departments. It is required that all the departments should have intercommunication via LAN. Each of the department contain 50-200 users.

As the case everywhere, the students and the staffs need to have access to Wi-Fi connectivity as well. The university campus contains 3 different buildings located nearby, having 2, 3 and 4 floors each. You are asked to design of a network infrastructure for a university, focusing on the following aspects.

 The network architecture model you will be choosing.

 The switching and routing requirement

 The IP Design schema for the department.

 Design with VLAN

 The security measures taken for both the wired and wireless network.

 The Wi-Fi design as required for the university.

The final network infrastructure may be created in packet tracer or any familiar tools available. You may create the model in a word file too, by indicating all the information clearly.

In: Computer Science

1 Which of the following forms of IP are specifically limited in how long they are...

1

Which of the following forms of IP are specifically limited in how long they are likely to be competitive advantage

trade secrets

patents

trademarks

2

A firm is in an industry that has seen major changes that have led to plummeting profits for the firm. The CEO has decided to make radical change to the firm's strategy and go in an entirely new direction, changing from a differentiator strategy in the industry to a cost leadership strategy that has been successful for several firms during the change. Which is the best response to this proposed strategic change from the CEO?

Do it because there are plenty of examples to imitate and make this strategy successful.

Do not do it because it is unlikely our firm can succeed against established cost leaders.

Do not do it because it is very risky to make any major change.

3

Which of the following is the most important reason a strategic analyst should always do an industry structure analysis when evaluating a single firm’s strategy?

Helps identify all the competitors trying to take profits from the firm.

Helps identify the ways the firm should try to change the industry structure through its strategy.

None of these.

Helps identify if it is impossible for the firm to gain a competitive advantage in the future.

In: Operations Management

Jimmitz Inc. is a subsidiary of Krocker Gear. Jimmitz sells shoe accessories to Krocker at a...

Jimmitz Inc. is a subsidiary of Krocker Gear. Jimmitz sells shoe accessories to Krocker at a 25% markup on cost. Information on these intercompany merchandise transactions is below:

Inventory balance on Krocker’s books, purchased from Jimmitz, January 1, 2020 $11,250
Inventory balance on Krocker’s books, purchased from Jimmitz, December 31, 2020 10,250
Total sales revenue recorded by Jimmitz on merchandise sales to Krocker in 2020 1,500,000

Required

a. Prepare the working paper eliminating entries related to these intercompany transactions at December 31, 2020.

Description Debit Credit
AnswerCost of goods soldInventoriesInvestment in KrockerRetained earnings, beg. - KrockerSales revenue Answer Answer
AnswerCost of goods soldInventoriesInvestment in KrockerRetained earnings, beg. - KrockerSales revenue Answer Answer
To eliminate the intercompany profit from Krocker's beg. Inventory.
AnswerCost of goods soldInventoriesInvestment in KrockerRetained earnings, beg. - KrockerSales revenue Answer Answer
AnswerCost of goods soldInventoriesInvestment in KrockerRetained earnings, beg. - KrockerSales revenue Answer Answer
To eliminate intercompany sales and purchases.
AnswerCost of goods soldInventoriesInvestment in KrockerRetained earnings, beg. - KrockerSales revenue Answer Answer
AnswerCost of goods soldInventoriesInvestment in KrockerRetained earnings, beg. - KrockerSales revenue Answer Answer
To eliminate the intercompany profit from Krocker’s ending inventory.

b. Krocker sold shoes containing Jimmitz’s shoe accessories during 2020.

What amount did Krocker and Jimmitz record as cost of goods sold for the shoe accessories in 2020?

$Answer

What amount should appear in consolidated cost of goods sold for these shoe accessories?

$Answer

Show how the eliminating entries in part a adjust Krocker’s cost of goods sold balance to the correct consolidated balance.

Account Krocker
Dr (Cr)
Jimmitz
Dr (Cr)
Debit Credit Consolidated
Balances
Dr (Cr)
Cost of goods sold $Answer $Answer Answer Answer $Answer
Answer

In: Accounting

1. On January 2, 2020, Murphy Company purchased land that cost $410,000, a building on the...

1. On January 2, 2020, Murphy Company purchased land that cost $410,000, a building on the land that cost $1,450,000, and equipment that cost $70,000. The building has an estimated useful life of 29 years. The equipment has an estimated useful life of 7 years.

Required: Prepare the property, plant, and equipment section of the balance sheet as of December 31, 2020. Note: Use straight-line depreciation with no salvage value. Murphy Company Balance Sheet (partial) December 31 Property, Plant, and Equipment Buildings Accumulated Depreciation, Buildings Total Property, Plant, and Equipment

2. On December 31, Perez Company has earned interest revenue of $2,200 on outstanding notes, even though the company will not actually receive the interest until the following year.

Required:
Journalize the adjusting entry on December 31.

3. On January 1, Williams Company purchased a large piece of equipment for $46,200. It has an estimated useful life of 7 years.

Required:
Journalize the adjusting entry on December 31.

Note: Use straight-line depreciation with no salvage value.

In: Accounting

On the other hand, the General Motors went on a different direction. General Motors was founded...

  1. On the other hand, the General Motors went on a different direction. General Motors was founded in 1908 and one hundred years old company.  Following the financial crisis in 2008/2009, General Motors filed for chapter 11 bankruptcy protection.  After support from the US government and restructuring, the business operation was able to re-enter the market.  In your ECON 200 class you learnt the conditions at which the firms enter and exit from the market.  Using a graph describes how and when in a perfectly competitive market the firms that are experiencing economic losses close the operation and reenter to the market. In the graph you may use costs and revenue curves.  (25 Points)

In: Economics

Respond to the following: Acquired immune responses are capable of controlling an infection, however, the acquired...

Respond to the following:

Acquired immune responses are capable of controlling an infection, however, the acquired immune response is controlled itself through different mechanisms. It is primarily activated by a threshold level of antigen that is produced through the defensive action of the innate immune system. Pathogens and antigens interact and cause dendritic cells to activate to become antigen-presenting cells. Then, the antigens are transported to the lymphoid organs by the antigen-presenting cells. After several days, antigen-specific T cells and B cells locate the foreign antigen, and ultimately differentiate into armed effector cells. These cells either leave the lymphoid organ to go to the sites of infection or stay within the organ to promote humoral immunity. The path the effector cells take is dependent on the differentiation of CD4 T cells. There are two different subsets of CD4 T cells, Th1 and Th2. The function of Th1 is to activate macrophages, while Th2 works to activate B cells, especially during the primary response. Both of these CD4 T cell subset are capable of regulating each other, which is essential done by the cytokines of each respective T cell type. Ultimately, the effector cells remove the pathogens to control the infection (1). Once an infection is effectively under control, it is critical to remove the effector cells to allow for the restoration of the tissue. The immune system has mechanisms in which it is capable of removing these cells. When effector cells are no longer needed, they undergo apoptosis. The function of effector cells is to remove the stimulus that activated them, but when that stimulus is gone, the effector cells no longer have anything to remove except for themselves, which occurs through apoptosis. Apoptosis causes cells to die, and they are subsequently removed through macrophages. They are capable of identifying the dying cells through the composition of their membrane, specifically the lipid phosphatidylserine. In a normal cell, the lipid is found on the inner portion of the plasma membrane. However, when a cell undergoes apoptosis, it redistributes to the outer surface which allows for easy recognition by phagocytes. While some effector cells are removed, some are retained to allow for formation of memory T-cell and B-cells (1). The acquired protective immune response is critical in providing protection against pathogens. It is acquired through effector T cells or antibodies that are generated when exposed to the pathogen, as described above. This can be done by initial infection or through vaccination that allows for immunological memory. The specific pathogen involved influences the type of effector T cell or antibody that provides protection. For example, the polio inactivated vaccine utilizes preexisting antibodies (IgA) to neutralize the virus and prevent its spread of infection (1). These antibodies are known as IgA, and are produced within the gut mucosa. In order to activate the mucosal immune response, antigens are transported across the epithelium through the use of microfold (M cells). They are then presented to effector B lymphocytes that result in stimulated B cells to migrate to distant mucosal cites. This ultimately leads to the production of IgA that neutralizes the antigen. The neutralization of these substances prevents it from binding to receptors within the tissue. Therefore, the neutralized antibody-antigen complex formed is ultimately removed and destroyed by macrophages (2).

In: Biology

Sylvia Sweet opened Sweet Angels, Inc. on June 1, 2020. During June, the following transactions were...

Sylvia Sweet opened Sweet Angels, Inc. on June 1, 2020. During June, the following transactions were completed:

June 1

Issued 5,000 shares of Cleaning Angels common stock for $13,000. Each share has a $1.00 par.

       2

Borrowed $7,500 on a 2-year, 8% note payable.

       2

Paid $9,000 to purchase used floor and window cleaning equipment from a company going out of business ($4,820 was for the floor equipment and $4,180 for the window equipment).

       2

Paid $250 for June for Internet and phone service.

       3

Purchased cleaning supplies for $980 on account.

       4

Hired 4 employees. Each will be paid $450 per 5-day work week (Monday-Friday). Employees will begin working on Monday, June 8th.

    4

Discussions with the insurance agent indicated that providing outside window cleaning services would cost too much to insure. Sylvia sold the window cleaning equipment for $4,000 cash.

       4

Obtained insurance coverage for $9,840 per year. Coverage runs from June 4, 2020, through June 04, 2021. Sylvia paid $2,460 cash for the first quarter of coverage.

   8

Paid $2.80 per share to buy 300 shares of Cleaning Angels, Inc common stock from a shareholder who disagreed with management goals. The shares will be held as treasury stock.

   12

Paid $300 on amount owed on cleaning supplies.

   15

Paid for employees’ wages for the week of June 8-12.

     15

Billed customers $3,600 for cleaning services performed through June 12, 2020.

     17

Received $600 from a customer for 4 weeks of cleaning services to begin on June 22, 2020.

     22

Billed customers $4,300 for cleaning services performed through June 19.

     22

Paid employees’ wages for the week of June 15-19

     23

Collected $2,400 cash from customers billed on June 15.

     25

Paid $250 for Internet and phone services for July.

     29

Declared and paid a cash dividend of $0.08 per share.

29

Collected $3,100 from customers billed on June 15 & 22.

29

Billed customers $3,900 for cleaning services performed through June 26th

29

Paid employees’ wages for the week of June 22-26

     30

Received notice that a customer who was billed $150 for services performed June 10th has filed for bankruptcy. Sweet Angels, Inc does not expect to collect any portion of this outstanding receivable. (Sweet Angels will follow the GAAP Guidelines for uncollectible accounts.)

Adjustment Data:

A. Services performed for customers through June 30, 2020, but unbilled and uncollected were $1,500.

B. Cleaning Angels used the allowance method to estimate bad debts. Cleaning Angels estimates that 3% of its month-end receivables will not be collected.

C. Record 1 month of depreciation for the floor equipment. Use the straight-line method, an estimated life of 5 years, and $400 salvage value.

D. Record 1 month of insurance expense.

E. An inventory count shows $350 of supplies on hand at June 30th.

F. Record services performed for the customer who paid in advance on June 17th.

G, Accrue for wages owed through June 30, 2020.

H. Accrue for interest expense for one month.

I. Sylvia estimates a 20% income tax rate. (Hint: Prepare an income statement up to “income before taxes” to help with the income tax calculation.)

Instructions:

  1. Journalize the June transactions.
  2. Post to ledger accounts.
  3. Prepare a Trial Balance as of June 30, 2020.
  4. Journalize the adjusting entries. (Round all amounts to whole dollars.)
  5. Post the adjusting entries to the ledger accounts.
  6. Prepare an Adjusted Trial Balance as of June 30, 2020.
  7. Journalize the closing entries.
  8. Post the Closing Entries to the ledger accounts.
  9. Prepare a Post-Closing Trial Balance on June 30, 2020

In: Accounting

Information concerning Cheyenne Corporation’s intangible assets is as follows. 1. On January 1, 2020, Cheyenne signed...

Information concerning Cheyenne Corporation’s intangible assets is as follows.
1. On January 1, 2020, Cheyenne signed an agreement to operate as a franchisee of Hsian Copy Service, Inc. for an initial franchise fee of $50,000. Of this amount, $10,000 was paid when the agreement was signed, and the balance is payable in 4 annual payments of $10,000 each, beginning January 1, 2021. The agreement provides that the down payment is not refundable and no future services are required of the franchisor. The present value at January 1, 2020, of the 4 annual payments discounted at 10% (the implicit rate for a loan of this type) is $31,700. The agreement also provides that 4% of the revenue from the franchise must be paid to the franchisor annually. Cheyenne’s revenue from the franchise for 2020 was $900,000. Cheyenne estimates the useful life of the franchise to be 10 years. (Hint: You may want to refer to Chapter 18 to determine the proper accounting treatment for the franchise fee and payments.)
2. Cheyenne incurred $60,000 of experimental and development costs in its laboratory to develop a patent that was granted on January 2, 2020. Legal fees and other costs associated with registration of the patent totaled $22,400. Cheyenne estimates that the useful life of the patent will be 8 years.
3. A trademark was purchased from Shanghai Company for $44,000 on July 1, 2017. Expenditures for successful litigation in defense of the trademark totaling $11,900 were paid on July 1, 2020. Cheyenne estimates that the useful life of the trademark will be 20 years from the date of acquisition.

(a)

Your answer is correct.
Prepare a schedule showing the intangible assets section of Cheyenne’s balance sheet at December 31, 2020.
CHEYENNE CORPORATION
Intangible Assets

choose the accounting period

For the Year Ended December 31, 2020December 31, 2020For the Month Ended December 31, 2020

select a balance sheet item

Patent AmortizationTrademark AmortizationTotal Intangible AssetsPatentTrademarkLegal FeesFranchise FeeFranchiseFranchise AmortizationResearch and Development Costs

$enter a dollar amount
select a balance sheet item

Franchise AmortizationPatentTotal Intangible AssetsTrademarkResearch and Development CostsTrademark AmortizationLegal FeesPatent AmortizationFranchiseFranchise Fee

enter a dollar amount
select a balance sheet item

Trademark AmortizationResearch and Development CostsPatent AmortizationLegal FeesPatentFranchise FeeTotal Intangible AssetsFranchise AmortizationTrademarkFranchise

enter a dollar amount
select a closing section name

        Patent    Trademark    Franchise Amortization    Legal Fees    Total Intangible Assets    Patent Amortization    Franchise Fee    Research and Development Costs    Trademark Amortization    Franchise

$enter a total amount for this section

SHOW SOLUTION

LINK TO TEXT

LINK TO TEXT

LINK TO TEXT

Attempts: 3 of 5 used

(b)

Your answer is partially correct. Try again.
Prepare a schedule showing all expenses resulting from the transactions that would appear on Cheyenne’s income statement for the year ended December 31, 2020.
CHEYENNE CORPORATION
Expenses Resulting from Selected Intangible Assets Transactions

choose the accounting period

December 31, 2020For the Year Ended December 31, 2020For the Month Ended December 31, 2020

select a balance sheet item

Franchise AmortizationResearch and Development CostsTotal Intangible AssetsInterest ExpensePatent AmortizationTrademark AmortizationFranchisePatentTrademarkLegal FeesFranchise Fee

$enter a dollar amount
select a balance sheet item

Research and Development CostsFranchise AmortizationTotal Intangible AssetsPatent AmortizationTrademark AmortizationFranchise FeePatentInterest ExpenseFranchiseTrademarkLegal Fees

enter a dollar amount
select a balance sheet item

Interest ExpenseFranchise FeeTotal Intangible AssetsLegal FeesPatentTrademark AmortizationFranchise AmortizationPatent AmortizationTrademarkFranchiseResearch and Development Costs

enter a dollar amount
select a balance sheet item

Franchise AmortizationTrademarkResearch and Development CostsFranchise FeeTotal Intangible AssetsPatent AmortizationTrademark AmortizationInterest ExpensePatentFranchiseLegal Fees

enter a dollar amount
select a balance sheet item

Trademark AmortizationTrademarkPatent AmortizationTotal Intangible AssetsInterest ExpenseFranchiseResearch and Development CostsPatentLegal FeesFranchise FeeFranchise Amortization

enter a dollar amount
select a closing section name

    Total Intangible Assets    Patent    Trademark Amortization    Franchise    Interest Expense    Research and Development Costs    Franchise Amortization    Trademark    Legal Fees    Franchise Fee    Patent Amortization    

$enter a total amount for this section

In: Accounting

Sylvia Sweet opened Sweet Angels, Inc. on June 1, 2020. During June, the following transactions were...

Sylvia Sweet opened Sweet Angels, Inc. on June 1, 2020. During June, the following transactions were completed:

June 1

Issued 5,000 shares of Cleaning Angels common stock for $13,000. Each share has a $1.00 par.

       2

Borrowed $7,500 on a 2-year, 8% note payable.

       2

Paid $9,000 to purchase used floor and window cleaning equipment from a company going out of business ($4,820 was for the floor equipment and $4,180 for the window equipment).

       2

Paid $250 for June for Internet and phone service.

       3

Purchased cleaning supplies for $980 on account.

       4

Hired 4 employees. Each will be paid $450 per 5-day work week (Monday-Friday). Employees will begin working on Monday, June 8th.

    4

Discussions with the insurance agent indicated that providing outside window cleaning services would cost too much to insure. Sylvia sold the window cleaning equipment for $4,000 cash.

       4

Obtained insurance coverage for $9,840 per year. Coverage runs from June 4, 2020, through June 04, 2021. Sylvia paid $2,460 cash for the first quarter of coverage.

   8

Paid $2.80 per share to buy 300 shares of Cleaning Angels, Inc common stock from a shareholder who disagreed with management goals. The shares will be held as treasury stock.

   12

Paid $300 on amount owed on cleaning supplies.

   15

Paid for employees’ wages for the week of June 8-12.

     15

Billed customers $3,600 for cleaning services performed through June 12, 2020.

     17

Received $600 from a customer for 4 weeks of cleaning services to begin on June 22, 2020.

     22

Billed customers $4,300 for cleaning services performed through June 19.

     22

Paid employees’ wages for the week of June 15-19

     23

Collected $2,400 cash from customers billed on June 15.

     25

Paid $250 for Internet and phone services for July.

     29

Declared and paid a cash dividend of $0.08 per share.

29

Collected $3,100 from customers billed on June 15 & 22.

29

Billed customers $3,900 for cleaning services performed through June 26th

29

Paid employees’ wages for the week of June 22-26

     30

Received notice that a customer who was billed $150 for services performed June 10th has filed for bankruptcy. Sweet Angels, Inc does not expect to collect any portion of this outstanding receivable. (Sweet Angels will follow the GAAP Guidelines for uncollectible accounts.)

Adjustment Data:

A. Services performed for customers through June 30, 2020, but unbilled and uncollected were $1,500.

B. Cleaning Angels used the allowance method to estimate bad debts. Cleaning Angels estimates that 3% of its month-end receivables will not be collected.

C. Record 1 month of depreciation for the floor equipment. Use the straight-line method, an estimated life of 5 years, and $400 salvage value.

D. Record 1 month of insurance expense.

E. An inventory count shows $350 of supplies on hand at June 30th.

F. Record services performed for the customer who paid in advance on June 17th.

G, Accrue for wages owed through June 30, 2020.

H. Accrue for interest expense for one month.

I. Sylvia estimates a 20% income tax rate. (Hint: Prepare an income statement up to “income before taxes” to help with the income tax calculation.)

Instructions:

  1. Journalize the June transactions.
  2. Post to ledger accounts.
  3. Prepare a Trial Balance as of June 30, 2020.
  4. Journalize the adjusting entries. (Round all amounts to whole dollars.)
  5. Post the adjusting entries to the ledger accounts.
  6. Prepare an Adjusted Trial Balance as of June 30, 2020.
  7. Journalize the closing entries.
  8. Post the Closing Entries to the ledger accounts.
  9. Prepare a Post-Closing Trial Balance on June 30, 2020

In: Accounting