CPI sells computer peripherals. At December 31, year 1, CPI’s inventory amounted to $550,000. During the first week in January, year 2, the company made only one purchase and one sale. These transactions were as follows.

CPI has a full-time accountant and a computer-based accounting system. It records sales at the gross sales price and purchases at net cost and maintains subsidiary ledgers for accounts receivable, inventory, and accounts payable.

Required:

b. Prepare journal entries to record these transactions, assuming that CPI uses a perpetual inventory system.

c. Compute the balance in the Inventory account at the close of business on January 6.

d. Prepare journal entries to record the two transactions, assuming that CPI uses a periodic inventory system.

e. Compute the cost of goods sold for the first week of January assuming use of the periodic system. (Use your answer to part c as the ending inventory.)

g. Compute the gross profit margin on the January 6 sales transaction.

The Ocean City water park is considering the purchase of a new log flume ride. The cost to

purchase the equipment is $5,000,000, and it will cost an additional $380,000 to have it installed. The equipment has an expected life of six years, and it will be depreciated using a MACRS 7-year class life. Management expects to run about 150 rides per day, with each ride averaging 25 riders. The season will last for 120 days per year. In the first year the ticket price per rider is expected to be $5.25, and it will be increased by 4% per year. The variable cost per rider will be $1.4, and total fixed costs will be $425,000 per year. After six years, the ride will be dismatled at a cost of $215,000 and the parts will be sold for $450,000. The cost of capital is 8.5%, and its marginal tax rate is 35%.

a. Calculate the initial outlay, annual after-tax cash flow for each year, and the terminal cash flow.

b. Calculate the NPV, IRR, and MIRR of the new equipment. Is the project acceptable?

c. Create a Data Table that shows the NPV, IRR, and MIRR for MACRS classes of 3, 5, 7, 10, 15 and 20 years. What do you conclude about the speed of depreciation and the profitability of an investment?

d. Using Goal Seek, calculate the minimum ticket price that must be charged in the first year in order to make the project acceptable.

Problem 2-23B Analysis of operating leverage

June Wade has invested in two start-up companies. At the end of the first year, she asks you to evaluate their operating performance. The following operating data apply to the first year:

Required

Use the contribution margin approach to compute the operating leverage for each firm.

If the economy expands in the coming year, Cook and Penn will both enjoy a 10 percent per year increase in sales volume, assuming that the selling price remains unchanged. (Note: Since the number of units increases, both revenue and variable cost will increase.) Compute the change in net income for each firm in dollar amount and in percentage.

If the economy contracts in the following year, Cook and Penn will both suffer a 10 percent decrease in sales volume, assuming that the selling price remains unchanged. (Note: Since the number of units decreases, both revenue and variable cost decrease.) Compute the change in net income for each firm in both dollar amount and percentage.

Write a memo to June Wade with your evaluation and recommendations.

We assume that the company you selected is considering a new project. The project has 8 years’ life. This project requires initial investment of $380 million to purchase equipment, and $30 million for shipping & installation fee. The fixed assets fall in the 7-year MACRS class. The salvage value of the fixed assets is 10.5% of the purchase price (including the shipping & installation fee). The number of units of the new product expected to be sold in the first year is 1,500,000 and the expected annual growth rate is 5.5%. The sales price is $255 per unit and the variable cost is $190 per unit in the first year, but they should be adjusted accordingly based on the estimated annualized inflation rate of 2.2%. The required net operating working capital (NOWC) is 9.5% of sales. Use the corporate tax rate obtained in Step (4) for the project. The project is assumed to have the same risk as the corporation, so you should use the WACC you obtained from prior steps as the discount rate. Note: you may revise the partial model in the file Ch11 P18 Build a Model.xls on the website of the textbook (also posted in this final project learning module in Blackboard) for capital budgeting analysis, but you are NOT required to strictly follow the partial model. Actually, you are encouraged to build a better model by yourself. Draw a time line of the cash flows. WACC = 7.20% Corporate Tax Rate = 18.30%

Prompt In your email back to the client, you must address the critical elements listed below. The codes shown in brackets indicate the course outcome to which each critical element is aligned. When responding to your new clients’ email, make sure to address all of their questions and concerns. This will help support the critical elements below.

I. Identify what additional documents the clients need to provide in order for you to do their taxes. [ACC-330-01]

II. Identify applicable deductions and credits available for the clients. [ACC-330-01]

III. Differentiate types of income and expenditures. [ACC-330-01]

IV. Explain how you utilized the IRS website for staying current in the identification and application of appropriate tax codes and laws. [ACC-330-01]

EMAIL FROM CUSTOMER

From: Freida C. Butler To: Jane Doe, Accountant Cc: Daniel B. Butler Date: January 20, 2016 My name is Freida C. Butler, and my husband and I were referred to you by our good friend Jackie Lynn. We would like for you to prepare our tax return this year. My husband works for WJJJ, Inc. and I work at a real estate company, Corbin Realty. I am not considered a subcontractor for them. Many of my friends are contractors for them and receive a 1099, but I do not. I believe I receive a W2—does that sound like the right form? We have three children who live with us. They were each in school at some point this past year. So you need to know which of them were enrolled in school last year or for how long? Will I get any tax breaks for them being in school? We also had income from some investments. We received interest and dividends from a few places. Can you tell me if those are reported on a 1099 form? If so, I may have to request this from my bank. We own our home and paid the typical homeowner’s expenses. What expenses will you need from us relating to our home? Are there any other questions you have for us, such as other deductions we can take? Just curious: this tax "stuff" is so much information to remember. How do you ever stay on top of all of these tax rules? I have always wondered that! Are you the best in the business? I look forward to hearing from you. Please let us know what other information

Case Study in Endocrine in preparation for Discussion A 51-year old unemployed salesman is brought to the emergency department by EMS at 0800, accompanied by his wife. His wife tells the emergency department nurse that her husband has not been feeling well for the last week, but that when he got up this morning, he was so weak he couldn’t dress himself and didn’t know where he was. She also tells the nurse her husband has been taking a cortisone drug for treatment of his rheumatoid arthritis for the past 2 years, but notes, “We didn’t have the money to buy it this month.” Assessment data includes: The patient is dehydrated with dry oral mucous membranes and tongue, poor skin turgor, and sunken eyeballs. His blood pressure is 94/44, and his pulse is rapid and thread. He is weak, dizzy, and disoriented about time and place. Diagnostic tests done at 0830 reveal the following abnormal findings: o EKG: widening QRS complex and increased PR interval (had peaked T-waves in the ambulance) o Sodium: 129 mEg/L (normal range: 135-145 mEq/L) o Glucose: 54 mg/ dL (normal range: 70-110 mg/dL) o Potassium: 6.2 mEq/L (normal range: 3.5-5 mEq/L) o Cortisol: 2 mg/dL (normal for morning draw: 5-23 mg/dL) The physician determines that the patient is probably suffering from adrenal insufficiency. The physician orders 5% Dextrose in 0.9 % sodium chloride in water (D5NS) to run at 250 mL/hr intravenously and Hydrocortisone 200 mg IV. After initiation of the IV fluids and medication, the patient is admitted to an inpatient bed with continuous heart monitoring.

5. Identify at least 2 methods that could be used to lower the potassium level if the patient has symptomatic hyperkalemia. (2 points)

6. Name 1 priority nursing diagnosis and 1 educational nursing diagnosis. This condition is potentially deadly for the patient, so the priority diagnosis must reflect a serious response to adrenal insufficiency that the nurse can address (4 points)

7. Name a goal statement for each nursing diagnosis. (2 points)

8. List 3 nursing interventions for each nursing diagnosis and please be specific about what is essential to teach this patient and his wife (6 points)

Julie is 45 year old mother and lives on a cropping farm, run as a family business, with her husband and his brother. Julie has three children same, aged 14; Katie, aged 12 and James aged 8.The two older children attend boarding school and return home for holidays. James is at home and attends the local primary school 50 km away.
Both Julie's boys have type 1 diabetes that she manages.
Julie has lived with her diabetes for 37 years and has many comorbidities due her both her diabetes and celiac disease. which she developed as a teenager. Julie has stage 3 chronic kidney disease, poor eyesight and osteoporosis. She is currently tryinģ to give up smoking after having smoked since of 16.
Julie currently sees her endocrinologist in large metropolitan hospital every three-month at outpatient clinic. It take her five hours to drive by car to the appointment in the city a journey that she takes with her husband. Her nephrologist is based at the regional hospital about 2 hours drive from home.Julie engages with a diabetes educator via phone and face to face monthly . The local hospital is 50 km away and is small, rural hospital. with a locum doctor and regular nursing staff, who cover the acute inpatient ward, and community registered nurse. She attends a community chronic diseases self management program at the local church hall run by the community registered nurse once a week in town and does her weekly groceries. Julie has expressed to the diabetes educator that she need more assistance with managing her own condition. She is concerned that her son who have type 1 diabetes, may end up with the same comorbidities as her because she has an autoimmune chronic condition

Question

Collaboration between interdisciplinary team members is a dynamic process reliant on effective communication and shared-decision making. Students must recognise and understand that individuals with chronic and complex conditions require interdisciplinary management to ensure quality patient outcomes.

1.Using the case study provided , you are required to verbally execute a clinical handover to a relevant interdisciplinary health professional using the ISBAR (Identify, Situation, Background, Assessment and Recommendations) format.

2.You are required to provide written rationale for your chosen interdisciplinary healthcare professional. This rationale must demonstrate your understanding of the importance of collaborative care in relation to the patient.

Susan is a 67-year-old white female who works part-time at the library and volunteers at least 10 hours per week. She and her husband live in a two-story home; her children and grandchildren visit every 6 months. She and her husband travel at least twice per year. She participates in water aerobics and yoga 4 days per week for 1 hour each. She will eat lunch at casual dining restaurants at least four times per week. She consumes three meals per day but is not eating as much due to recovering from a wrist fracture from a fall that happened 2 months ago. For breakfast, she will have ¾ cup of high-fiber cereal with ½ cup skim milk. For lunch, a heavy salad (chicken, cheese, romaine lettuce, vegetables) with light dressing, 1 slice of bread or a roll, and 4 ounces of wine. At dinner, she will have a big bowl of thickened soup/stew with bread or 2–3 ounces of fatty fish or meat, 1 cup of salad with light dressing, vegetables, and 4 ounces of wine. She tries to avoid milk-based foods due to the gas and bloating it causes and also tries to eat low-fat/low-salt to avoid gaining weight and increasing her blood pressure. She has no issues with chewing/swallowing or bowels aside from when eating milk-based foods. From her fall, the doctors performed a bone mineral density exam, in which her T-scores are as follows: for the hip: 1.7 (normal is > –1.0); for a vertebra: –2.6 (normal is > –2.5). Susan’s serum vitamin D level is 23 nmol/L. Her doctor has placed her on an over-the-counter 500-mg calcium with vitamin D supplement. She has prehypertension (average blood pressure of 128/92) and refuses to take any hypertension medications. She has lost 5 pounds over the past 2 months.

Height: 5’6”, weight: 122 pounds, weight history: 127 pounds (2 months ago)

Questions

1. What do her lab values lead you to believe about her bone status?
2. What is her BMI? What is her BMI classification?
3. Is her weight loss a concern to you? Why or why not?
4. What additional questions would you ask Susan regarding her nutritional intake?
5. What are Susan’s calorie, macronutrient, and micronutrient needs?
6. What are your diet recommendations for Susan?
7. What are your nutritional goals for Susan?

Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the construction industry). The following information is for the production of these trusses for the month of February:

Required

Using the weighted-average method, calculate the following:

1-a. Costs per equivalent unit. (Round your answers to 4 decimal places.)

1-b. Cost of goods completed and transferred out. (Round intermediate values to 4 decimal places.)

1-c. Costs remaining in the Work-in-Process Inventory account.

2. Assume that you are the company’s controller. The production department’s February equivalent unit cost is higher than expected. If the manager of the first department asks you to do him a favor by increasing the ending inventory completion percentage from 40 to 60% to lower the unit costs, how much would unit cost be affected by this request? (Round your answer to 4 decimal places.)

Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the construction industry). The following information is for the production of these trusses for the month of February: Work-in-process inventory, February 1 4,000 trusses Direct materials: 100% complete $ 10,480 Conversion: 20% complete $ 15,258 Units started during February 18,000 trusses Units completed during February and transferred out 17,000 trusses Work-in-process inventory, February 29 Direct materials: 100% complete Conversion: 40% complete Costs incurred during February Direct materials $ 59,040 Conversion $ 92,092 Required Using the weighted-average method, calculate the following: 1-a. Costs per equivalent unit. (Round your answers to 4 decimal places.) 1-b. Cost of goods completed and transferred out. (Round intermediate values to 4 decimal places.) 1-c. Costs remaining in the Work-in-Process Inventory account. 2. Assume that you are the company’s controller. The production department’s February equivalent unit cost is higher than expected. If the manager of the first department asks you to do him a favor by increasing the ending inventory completion percentage from 40 to 60% to lower the unit costs, how much would unit cost be affected by this request? (Round your answer to 4 decimal places.)