On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company’s first month.

The company's chart of accounts follows:

Use the following information:

1. Two-thirds (or $128) of one month’s insurance coverage has expired.
2. At the end of the month, $600 of office supplies are still available.
3. This month’s depreciation on the computer equipment is $400.
4. Employees earned $380 of unpaid and unrecorded salaries as of month-end.
5. The company earned $2,000 of commissions that are not yet billed at month-end.

Required:
6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6b.
6b. Post the journal entries to the ledger.
7. Prepare a post-closing trial balance.

Please answer with Excel Formulas:

Conch Republic Electronics is a midsized electronics manufacturer located in Key West, Florida. The company president is Shelly Couts, who inherited the company. The company originally repaired radios and other household appliances when it was founded over 70 years ago. Over the years, the company has expanded, and it is now a reputable manufacturer of various specialty electronic items. Jay McCanless, a recent MBA graduate, had been hired by the company in its finance department. One of the major revenue-producing items manufactured by Conch Republic is a smart phone. Conch Republic currently has one smart phone model on the market and sales have been excellent. The smart phone is a unique item in that it comes in a variety of tropical colors and is preprogrammed to play Jimmy Buffett music. However, as with any electronic item, technology changes rapidly, and the current smart phone has limited features in comparison with newer models. Conch Republic spent $750,000 to develop a prototype for a new smart phone that has all the features of the existing one but adds new features such as wifi tethering. The company has spent a further $200,000 for a marketing study to determine the expected sales figures for the new smart phone. Conch Republic can manufacture the new smart phone for $185 each in variable costs. Fixed costs for the operation are estimated to run $5.3 million per year. The estimated sales volume is 74,000, 95,000, 125,000, 105,000, and 80,000 per year for the next five years, respectively. The unit price of the new smart phone will be $480. The necessary equipment can be purchased for $38.5 million and will be depreciated on a seven-year MACRS schedule. It is believed the value of the equipment in five years will be $5.4 million. As previously stated, Conch Republic currently manufactures a smart phone. Production of the existing model is expected to be terminated in two years. If Conch Republic does not introduce the new smart phone, sales will be 80,000 units and 60,000 units for the next two years, respectively. The price of the existing smart phone is $310 per unit, with variable costs If of $125 each and fixed costs of $1,800,000 per year.If Conch Republic does introduce the new smart phone, sales of the existing smart phone will fall by 15,000 units per year, and the price of the existing units will have to be lowered to $275 each. Net working capital for the smart phones will be 20 percent of sales and will occur with the timing of the cash flows for the year, for example, there is no initial outlay for NWC, but changes in NWC will first occur in year 1 with the first year's sales. Conch Republic has a 35 percent corporate tax rate and a 12 percent required return. Shelly has asked Jay to prepare a report that answers the following questions:

Questions 1. What is the payback period of the project?

2. What is the profitability index of the project?

3. What is the IRR of the project?

4. What is the NPV of the project?

After Class Practice 8-1 (2HW)

The following are the Class Company’s unit costs of manufacturing and marketing a luxury pen at a level of 20,000 units per month:

               Direct materials                      $1.00

Direct labor                                1.20

Variable overhead                      .80

Fixed overhead                            .50

               Variable selling and administrative                                          1.50

               Fixed selling and administrative               .90

Consider each of the following questions independently. Unless otherwise stated, assume a selling price of $10 per pen. The first three questions review concepts covered in previous chapters. ck figure: c. 5091 units e. Decrease in income if buy(15,000)

a.            What unit cost would be presented on the balance sheet for inventory (review from Ch. 4)?

b.            Assume that Class Company’s volume increased to 25,000 units per month. What unit cost would be presented on the balance sheet for inventory (review from Chs 2-3)?

c.            What number of pens would Class Company have to sell each month to breakeven (Ch 3)?

d.            The company wants to enter a foreign market in which price competition is keen. The company seeks a one-time-only special order for 1,000 units. The company estimates shipping costs for these units to be $.75 per unit, but the fixed costs of obtaining the contract will be $2,000. No other variable selling and administrative costs will be incurred. What minimum sales price must be charged to cover the relevant costs?

e.            A proposal is received from an outside supplier who will make and ship the pens for $5 per pen. With the newly freed capacity, Class plans on making mechanical pencils that would contribute $1 per pencil. Class can produce 30,000 of the new pencils per month. None of the fixed costs nor variable selling costs (Class has to sell the pens whether the pens are manufactured or purchased) from the luxury pen could be avoided, but production of the new pencils will require an additional $5,000 in fixed costs per month. Should Class purchase the new pens?

f.     Class operates two divisions: Corporate and Individual.   The Individual division recently reported a net operating loss for the year: The income statement for the most recent year follows:

                                                          Individual                                           Corporate

               Sales                                             $125,000                                             $500,000

Variable expenses                                  50,000                                300,000

Contribution margin                                  75,000                                200,000

Direct fixed expenses                                  30,000                                110,000

Allocated fixed expenses                                  50,000                                  50,000

Operating income                                $(5,000)                                $40,000

                     Prepare an income statement showing segment margin for each division; Add a column for the whole company. By how much would total income change if the Individual division were dropped?

The annual commissions earned by sales representatives of Machine Products Inc., a

manufacturer of light machinery, follow the normal probability distribution. The mean

yearly amount earned is $40,000 and the standard deviation is $5,000.

a. What percent of the sales representatives earn more than $42,000 per year?

b. What percent of the sales earn less than 28,000 per year?

c. The sales manager wants to award the sales representatives who earn the largest

commissions a bonus of $1,000. He can award a bonus to 20 percent of the representatives.

What is the cutoff point between those who earn a bonus and those who do not?

Assume Jinan University and an American Professor signed a contract for a summer business arrangement. In the contract, the professor promised to teach for the summer in Guangzhou, and in return, Jinan University promised to pay the professor $1 million. In preparation for the arrival of the professor, Jinan paid $20,000 for a fancy Guangzhou apartment for the professor. Jinan also bought $2,000 plane tickets, $500 in weekend tours, and $200 in equipment for the professor.

In addition, Jinan spent $12,000 in advertising, showing possible students that the professor was coming to teach. 500 students saw the advertising. Each paid $20,000 to Jinan to enroll. The students gave up the opportunity to attend a different program in Guangzhou. The other program would have cost each student $30,000.

All of the students fly to Guangzhou, spending $2,500 on airfare. Each also paid $10,000 for excellent apartments near the university. The university was ready to go.

Then the night before classes start, the professor calls and says he decided not to come. In the above story, who can sue whom? What will each party argue in each case? What legal concepts are involved from our class? Discuss how much (if anything) different parties would pay. Explain. Be thorough. Please also be specific.

Assume Jinan University and an American Professor signed a contract for a summer business arrangement. In the contract, the professor promised to teach for the summer in Guangzhou, and in return, Jinan University promised to pay the professor $1 million. In preparation for the arrival of the professor, Jinan paid $20,000 for a fancy Guangzhou apartment for the professor. Jinan also bought $2,000 plane tickets, $500 in weekend tours, and $200 in equipment for the professor.

In addition, Jinan spent $12,000 in advertising, showing possible students that the professor was coming to teach. 500 students saw the advertising. Each paid $20,000 to Jinan to enroll. The students gave up the opportunity to attend a different program in Guangzhou. The other program would have cost each student $30,000.

All of the students fly to Guangzhou, spending $2,500 on airfare. Each also paid $10,000 for excellent apartments near the university. The university was ready to go. Then the night before classes start, the professor calls and says he decided not to come.

In the above story, who can sue whom? What will each party argue in each case? What legal concepts are involved from our class? Explain. Be thorough.

Please be specific on bold font questions !!

Scenario

Pigs R Us is a second generation, family-owned Richmond-based company with about 400 employees. It slaughters, manufactures, and sells pork food products.  Pigs R Us (PRU) is a low-tech, hands-on, “bricks and mortar” type of company with solid brand recognition, an impeccable reputation for high quality and ethical standards. The processes used in manufacturing are with the highest ISO20002 standards, and the plant is maintained immaculately. The personnel are comprised of an older work force (average employee age is late 40s). There is little staff turnover, though lately there have been a diverse group of younger workers joining the company. There has been an impressive record of speedy state and federal new-product approvals, and solid working relationships with their large and small customers.

The company prides itself on the close "southern family," culture of the business. The company logo features a pig with a smile on its face surrounded by small pictures of some of its oldest serving employees. The organization's structure is “old-fashioned”. It is hierarchical with rigid management divisions and reporting policies. Research, manufacturing, and sales and marketing operate in traditional fashion, with employees reporting to supervisors or mid-level managers. By the 1990s, sales and distribution grew from Richmond into a regional market, establishing a competitive advantage throughout the US South. Despite downward economic times in the US and the South, the pork business does well. This is due largely to the fact that Pork is one of the cheaper meat products and there is a variety of ways it can be prepared.

Owned by the Morris family for the last 60 years, Pigs R Us is a key player in the Richmond based food industry. Various Morris family members sit on the board of charities throughout the city and it is not unusual to see the name at society events. Further, the Company sponsors its own Little League Team and has built a recreation center and assisted living facility for the elderly, guaranteeing space for all former 20+ year veteran workers of the company for free. So, it was no surprise, that the whole community was devastated when it was announced by the Morris family that Vance Morris the CEO of Pigs R Us was killed while driving back from a Pigs R US board meeting. The plant closed for a week to show respect and to determine how it would function until the family could make its succession decisions.

Vance Morris was the only son of James and Kathleen Morris. Vance took over the business 10 years before when his father had a heart attack and died. Fresh out of graduate school when his father died. He took over the business that he had known well much to the pleasure and keen eye of the workers. Vance made some marketing changes that allowed for the growth of the company and with the help of the employees brought the plant into its current state. Vance had just gotten married the year before to a young Richmond artist he had met at one of his charity benefits. He had no heirs and no plans for succession as he was in his mid-thirties and had just gotten married. While Vance had cousins in the area they were all professional people who knew nothing about business or pork. The workers could only surmise that the company would be sold, but speculation as to whom it might be did not include someone from out of the city.

Before the deal was announced publicly, John’s widow, Arleen, reported to the workers that a Chinese company, Shanghou (SHU), would be buying Pigs R US. Mrs. Morris assured the workers that the SHU promised not to cut workers' wages and benefits, and to keep the current management team in place. She said that SHU also promised to keep Pork R US headquarters in Richmond. Arleen assured the workers that SHU promised that there would be no changes for the first year and that almost everything would remain the same. From her talks with SHU, Arleen is a bit worried about future changes that SHU may implement.

SHU is a large manufacturer and distributor of food and beverages with, headquarters in Hong Kong. Manufacturing plants operate in mainland China, and the company has additional offices in Europe and Australia. By acquiring the smaller, well-respected Pork R US, SHU aims to diversify and expand its consumer base by including tailor-made pork products globally to meet market projections of a customer upsurge in sustainable, non-beef meats in the next decade. Given SHU’s current availability of telecommunications software and hardware, the deployment of the Pigs R US refrigeration trucks should not be an insurmountable issue.

Many PRU employees, especially the older workers and some of the older managers, are dispirited about the acquisition, and anxious about working for foreigners, downsizing, less face-to-face interaction, language differences, and more electronic systems that are to be put in place. Some of the of the more experienced workers are considering a move or an early retirement due to the ongoing rumors about the acquisition. To make matters worse, recent news media have printed stories about tainted food made by other companies in China. Employees fear loss of product quality and damage to PRU’s reputation as well as the loss of the family southern culture that was their pride and joy.

SHU has told PRU workers that for now, most employees will be retained. However, all employees will be evaluated, and reassigned to teams as the new flat structure is put in place. The new CEO is Harvard-educated Daniel Chinn. He supports increasing the company's competitive edge by discovering and developing existing individual potential through group collaboration and team synergy. Ever since his days as a brilliant, hard-driving MBA student; he has been known to be an enthusiastic supporter of job training and career growth. Like many of SHU’s employees, David is in his early thirties. He speaks four languages and is ambitious, self-directed, tech-savvy, accustomed to working remotely, and experienced with a culturally diverse staff. David is eager to make his newest acquisition a success. He wants to move forward on the integration of "Pork R US’ workers into SHU because Chinn believes they are the “greatest asset have a rich knowledge base and experience can be tapped into to bring the company success." Chinn is concerned about the mix of culture and how his ideas of incorporating artificial intelligence and more robotics into the manufacturing processes will be received by management and the workers at the newly acquired plant.

Daniel Chinn is anxious to keep the “southern family” culture of Pigs R Us but at the same time wants to use the most modern of manufacturing techniques. He decided that the best way to do this was to start a pilot change operation in the packaging area to demonstrate to the workers the effectiveness of technology. He bought and set up for use 3D printers in the packaging room. The printers were able to create reusable shipping materials and operate in conjunction with the product conveyor for fast and easy packaging. He brought in two trained 3D printer operators from China to handle the work along with two robots that would move the package material and create shrink-wrapped pallets for loading on to the trucks.

The current packaging department employs 5 workers on day shift and 3 newer workers on the night shift. All the day shift workers are in their early fifties and have been working for Pigs R Us all their lives. John Mellon, the lead line man, exemplifies the group. He is 53 years old. He has a family of three children most all are grown. One works in the business with him as the manager of accounting department having gotten a college degree unlike his father. John rarely travels out of state and has never been abroad. He is not terribly familiar with technology. He has a Smart TV but his children have set it up for him to use Netflix.

When the new employees arrived, the packaging staff tried to get to know them but had little in common and found it hard to communicate with them. The new workers ate together at lunch and always with food they brought with them despite offers of food brought in by the older employees to show their “southern roots”. Things are strained between the groups because the older employees thought they were being snubbed and many are uncertain as to the customs and language unable to communicate their real feelings. This all operated to create a schism among the workers which escalated into job performance and employment commitment issues when the six-month results from the 3D/Robot pilot showed the following success in favor of new technology.

The results showed such a marked process improvement with the added benefit of creating materials that were sustainable. The immediate reaction among the older workers was fear for their jobs. The new workers suddenly were the enemy. Chinn was pleased with the new process and indicated that the 3D printing approach would be continued. The word of the decision spread among the families in the company and the “southern family” culture was now closing ranks on the newcomers both in the packaging room and in the other departments thus confirming their fears when news of the buyout surfaced.

TO DO:

Summarize the situational analysis including your approach(s) and diagnosis of the situation.

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Write a short 1-2 page paper. Summarize the life experiences of 3 people you know who are in emerging adulthood (1 paragraph each). If possible, select individuals with differing experiences (use pseudonyms). Describe the unique experiences that each individual faces in the transition from adolescence into adulthood.

Four independent assorting genes, A, B, C and D, interact to affect the development of the retina in humans. Individuals who are homozygous recessive for either one of the genes will be able to see, individual who are homozygous recessive for either two or three genes will have diminishing sight. If an individual who has four homozygous recessive genes will be blind. In a cross between two individuals with these genotypes: AaBBccDd x AabbccDd

a. What is the probability that the child will be blind? Show calculations

b. What is the probability that the child AaBbccDD? Show calculations

Fuzzy logic modeling has many advantages over the conventional rule induction algorithm. For the discussion forum, you work in the admissions office of a University. There are a large number of applicants to the University. You classify them into three clusters-admitted, rejected, and those who should be admitted. For the third cluster, how would you handle this taking into consideration the fuzzy logic modeling? Would ranking be a consideration?

need 300 words with no plagrism