Assume that on December 1, 2020, Lee Dunbar organizes a sole proprietorship company that will be known as App Solutions. App Solutions will initially perform 2 activities: Application Consulting and Programming.

The following transactions take place during the month of December:

Dec. 1   To start the business, Lee deposits $50,000 into the App Solution’s bank account.

Dec. 1   Web Solutions purchased a small office building for $220,000, paying $20,000 cash, and assuming a mortgage with a bank for the rest.

Dec. 1   Purchased supplies on account for $1,350.

Dec. 2   Received $7,500 cash for Application Consulting to be provided to customers in December.

Dec. 2   Paid a premium of $2,400 on a comprehensive insurance policy covering liability, theft, and fire. The policy covers a 1 year period, to November 30, 2020.

Dec. 2   Paid rent for the month of December, $1,800.

Dec. 3   Received an offer from a local retailer to rent the ground floor of the small office building purchased on Dec. 1^st. App Solutions received $3,600 for three months’ rent beginning December 1^st.

Dec. 4   Purchased computer equipment on account from Executive Supply Co. for $3,600.

Dec. 6   Paid $180 for a newspaper advertisement, to be run immediately.

Dec. 11 Paid creditors $400 for the Dec. 1^st supplies purchase.

Dec. 15 Paid a receptionist and part-time assistant $1,950 each for wages for first half of December.

Dec. 16 Received $3,100 from Programming fees earned for a completed Web site.

Dec. 16 Completed work for prepaid Application Consulting from Dec. 2.

Dec. 20 Paid $1,800 to Executive Supply Co. on the debt owed from the December 4^th transaction.

Dec. 21 Received $650 cash from customers for Application Consulting performed in the last few days.

Dec. 23 Purchased $1,450 of supplies by paying $550 in cash and charging the remainder on account.

Dec. 27 Paid the receptionist and the part-time assistant $1,950 each for wages for second half of December.

Dec. 31 Paid telephone for the month of December, $250.

Dec. 31 Paid $225 electricity bill for December.

Dec. 31 Received $2,870 cash from Application Consulting completed the last few days of December.

Dec. 31 Recognized Programming fees earned by not paid of $1,120 from the second half of December.

Dec. 31 Lee withdrew $3,000 from the company bank account for his own personal use.

Instructions (50 Marks in total):

1. Prepare the Documentation and Chart of Accounts worksheets .
2. Prepare journal entries in the General Journal for App Solutions for December. Do not make any adjustments for the month of December .
3. Post the journal entry amounts to T-accounts .
4. Create an Unadjusted Trial Balance for App Solutions for December 31, 2020 .

Please Note:     Do not apply any adjustments for the month of December 2020.

Use an Excel Spreadsheet file with five worksheets:

            First worksheet:            Documentation

Second worksheet:        Chart of Accounts.

Third worksheet:           General Journal.

Fourth worksheet:        T-Accounts.

Fifth worksheet:            Unadjusted Trial Balance.

Consider two employers and their respective optimal turnover policies. The first is a biology department in a research university. To increase the ranking of the department, professors must publish in top journals and win large grants from the NIH (which has a low funding rate). The second is a large chain of department stores which hire retailers and managers to work the cash register and make clothing recommendations for customers based on the store’s current inventory. a) Which employer should aim for relatively high turnover? Give at least two reasons to support your claim. Department of Economics Professor Frank University of Iowa Spring 2018 b) Which employer should aim to reduce turnover? Give at least two reasons why.

Market equilibrium occurs when the amount of people that are willing to buy equals the amount of people that are willing to sell. A steadfast tenant in economics. As students here at Post let’s surmise that right now Post is at market equilibrium. We have enough Instructors to match the number of students. However, two scenarios occur; first, student enrollment falls, so Post decides it must now raise tuition. Not good…. Or, enrollment increases! And Post decides to, you guessed it, increase tuition. Why in each scenario would the University raise tuition and, why should tuition NOT be raised, in either scenario? Talk to this from both your point of view as well as if you were on the Board of Directors for the University. What’s the right thing to do, and why???

Suppose the demand and supply curves for units of university credits are given by the following equations: Q D = 5400 − 2P Q S = 3P − 400 where QD is the quantity of credits demanded, QS is the quantity supplied, and P is the price charged for each unit in dollars. (a) (3 points) What is the free-market equilibrium Price and Quantity. (b) (3 points) Suppose that the government wants to make education more accessible and therefore passes a regulation that says no university can charge more than $800 per credit. What is the new equilibrium Price and Quantity? (c) (4 points) Calculate the shortage or surplus generated by this government policy. Show it on graph. Include your answers from part (a) and (b) on the graph.

1. A university has 10,000 students of which 45% are male and 55% are female. If a class of 30 students is chosen at random from the university population, find the mean and variance of the number of male students. Group of answer choices Mean = 16.5, Variance = 2.7 Mean = 13.5, Variance = 2.7 Mean = 16.5, Variance = 7.4 Mean = 13.5, Variance = 7.4

2. At a particular hospital, 40% of staff are nurse assistants. If 12 staff members are randomly selected, what is the probability that exactly 4 are nurse assistants?

3. Let X be a binomial distribution with n = 20 and p = .4 then the variance is

4.

Find the mean of the distribution shown below.

A university provides an opportunity for members to take part in training about how to respond to students’ questions. University managers believes that less than 60% of the members took part in the training. You are asked to examine whether there is any evidence to support this claim. You have surveyed 25 members and found that 17 of them have been benefited from the training.

Write down the null and alternative hypotheses in words.

Null hypothesis:
Alterative hypothesis:

State the direction of the test you are conducting and explain why you have chosen this test.

Using a level of significance (α) of 1%, determine the critical value(s).

Determine your decision rule (drawing a diagram on a paper may be helpful).

Calculate your test statistic.

Academic drops have been a concern for university administration due to the negative impact they have on graduation rates and consequently the image of the university.

The Management Department has collected the data for 10 semesters with the following results:

Academic drops from the last 20 to 10 semesters have been:

10, 7, 8, 9, 8, 6, 10, 12, 8, 10.

Has the Management Department seen a significant change in the number of academic drops over the last 5 years?

              b.    The 10 most recent semesters of sample data are: 5, 6, 8, 4, 2, 4, 3, 4, 3, 2.

              c.    Based on your evaluation of these data should the Management Department change their program to lower academic drops?

There are a lot of strategies for setting up network defense systems. Physical restrictions can be put in place, such as separating hardware, or using switches and cabling to do so. One can also use virtualized segmentation in the form of VLANs, and virtual networks (including switches). What strategy do you feel is best suited to defend against modern cybersecurity threats? State your opinion concerning which technologies you would deploy if you were positioned to protect a university campus from cybersecurity threats. use any type of security, just need to know what is a strategy you would use that will defend against cybersecurity threats, and why? What is the best technology to use if I was to deploy one for a university?

At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows:

Depreciation methods and useful lives:
Buildings—150% declining balance; 25 years.
Machinery and equipment—Straight line; 10 years.
Automobiles and trucks—150% declining balance; 5 years, all acquired after 2014.
Leasehold improvements—Straight line.
Land improvements—Straight line.

Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2018 and other information:

On January 6, 2018, a plant facility consisting of land and building was acquired from King Corp. in exchange for 34,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $50 a share. Current assessed values of land and building for property tax purposes are $210,000 and $630,000, respectively.

On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $246,000. These expenditures had an estimated useful life of 12 years.

The leasehold improvements were completed on December 31, 2014, and had an estimated useful life of eight years. The related lease, which would terminate on December 31, 2020, was renewable for an additional four-year term. On April 30, 2018, Cord exercised the renewal option.

On July 1, 2018, machinery and equipment were purchased at a total invoice cost of $334,000. Additional costs of $10,000 for delivery and $59,000 for installation were incurred.

On August 30, 2018, Cord purchased a new automobile for $13,400.

On September 30, 2018, a truck with a cost of $24,900 and a book value of $10,800 on date of sale was sold for $12,400. Depreciation for the nine months ended September 30, 2018, was $2,430.

On December 20, 2018, a machine with a cost of $21,500 and a book value of $3,200 at date of disposition was scrapped without cash recovery.

Required:

1. Prepare a schedule analyzing the changes in each of the plant asset accounts during 2018. Do not analyze changes in accumulated depreciation and amortization.
2. For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2018

Prepare a schedule analyzing the changes in each of the plant asset accounts during 2018. Do not analyze changes in accumulated depreciation and amortization.

For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2018. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.)

Given that IKEA had to change its strategy for American market, did the company had to change itsinternationalization strategy for its entry into the Indian market?

The furniture industry is an example of an industry that did not lend itself to globalization before the 1960s. The reasons for that are its features. Furniture has a huge volume compared to its value, relatively high transport costs and is easily damaged in shipping. Government trade barriers also were unfavorable. But IKEA – company established in the 1940s in a small village in Sweden, has become one of the world’s leading retailers of home furnishings. In 2002 it was ranked 44th out of the top 100 brands by Interbrand, topping other known brands such as Pepsi. In 2002, it had more than 160 stores in 30 countries. How did IKEA achieve it? The IKEA business idea is: ‘We shall offer a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them.’ By the early 1960s the Swedish market was saturated and IKEA decided to expand its business formula outside Sweden. They noted: ‘Sweden is a very small country. It’s pretty logical: in a country like this, if you have a very strong and successful business, you’re bound to go international at some point. The reason is simple—you cannot grow any more’ (Retrieved from http://www.ikea.com). IKEA’s internationalization strategy in Scandinavian countries and the rest of Europe has not paid significant attention to local tastes and preferences in the different European countries. Only necessary changes were allowed, to keep costs under control and IKEA’s low responsiveness to local needs strategy seems to work well in Europe (Kling K., Gofeman I. 2003).

The first challenge came in 1985 when IKEA entered the US market and faced several problems there. The root of most of these problems was the company’s lack of attention to local needs and wants. US customers preferred large furniture kits and household items. As a result of initial poor performance in the US market, IKEA’s management realized that a standardized product strategy should be flexible enough to respond to local markets. In the early 1990s IKEA redesigned its strategy and adapted its products to the US market. Thanks to it IKEA’s sales in the US increased significant and by 2002 the US market accounted for 19% of IKEA’s revenue. As the case study illustrates, in several industries firms with effective strategy do not have to change their core strategy significantly when they move beyond their home market. IKEA does not significantly change its corporate strategy and operations to adapt to local markets unless there is a compelling reason for doing so. IKEA’s strategy in the US during the 1980s demonstrates that even the most successful formula in the home market can fail if multinational companies do not respond effectively to local business realities.

Question: Given that IKEA had to change its strategy for American market, did the company had to change its internationalization strategy for its entry into the Indian market?