Knockout Consulting entered into the following transactions during April:
| Apr. 1. | The following assets were received : cash, $20,000; accounts receivable, $14,700; supplies, $3,300; and office equipment, $12,000. | |
| 1. | Paid three months' rent on a lease rental contract, $6,000. | |
| 2. | Paid the premiums on property and casualty insurance policies, $4,200. | |
| 4. | Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $9,400. | |
| 5. | Purchased additional office equipment on account, $8,000. | |
| 6. | Received cash from clients on account, $11,700. | |
| 10. | Paid cash for advertisements, $350. | |
| 12. | Paid for part of the debt incurred on April 5, $6,400. | |
| 12. | Provided services on account for the period April 1–12, $21,900. | |
| 14. | Paid receptionist for two weeks' salary, $1,650. |
| 17. | Received cash from cash clients for fees earned during the period April 1–16, $6,600. | |
| 18. | Paid cash for supplies, $725. | |
| 20. | Provided services on account for the period April 13–20, $16,800. | |
| 24. | Received cash from cash clients for fees earned for the period April 17–24, $4,450. | |
| 26. | Received cash from clients on account, $26,500. | |
| 27. | Paid receptionist for two weeks' salary, $1,650. | |
| 29. | Paid telephone bill for April, $540. | |
| 30. | Paid electricity bill for April, $760. | |
| 30. | Received cash from cash clients for fees earned for the period April 25–30, $5,160. | |
| 30. | Provided services on account for the remainder of April, $2,590. | |
| 30. | Withdrew $18,000 for personal use. |
Instructions
Prepare journal entries for the above.
Prepare an unadjusted trial balance.
At the end of April, the following adjustment data were assembled.
Insurance expired during April is $350.
Supplies on hand on April 30 are $1,225.
Depreciation of office equipment for April is $400.
Accrued receptionist salary on April 30 is $275.
Rent expired during April is $2,000.
Unearned fees on April 30 are $2,350.
Prepare the adjusting journal entries for the above.
Prepare an income statement, a statement of owner's equity, and a balance sheet.
Prepare closing entries.
In: Accounting
Cato Boldon 32, CEO and founder of Optimum Athletics, reside in the island of Trinidad and Tobago with his wife and children. The business has been in operation since 2008. He decided to start the business during the financial crisis that hit the world in 2008 due his passion for track and field. The company has been experiencing a loss for the last two years and cash flows are beginning to tighten. A major customer owes the company US$100,000 for almost a year. He gets a salary of 5 million per annum from the business. He has savings of US$ 100,000 and his looking to invest to secure his financial future. He wants to enjoy both safety and capital gains. The government of Trinidad is currently in discussion on whether to grant small business in the manufacturing industry an incentive package. Boldon is considering his options. Should I sell the business or go back to management in a corporate enterprise. He has a Masters of Science of 35 Degree in Kinesiology. His two children are aged 9 and 13 yrs old respectively and his wife is six months pregnant. His wife recently completed her Law Degree and is looking to be called to the bar in Trinidad and Tobago in the next six months. Her husband had been contributing to her alumni Scholarship Fund for the last 5 years and wishes to continue. His father 60, is not doing well. He was recently diagnosed with diabetes. Boldon recently found out that his father has limited insurance coverage. Boldon is concerned about his retirement and his ability to finance his children education. He wanted the business to be part of his pension plan as he wanted the company to be listed on the Trinidad Stock Exchange. He had to use the deposit that he had saved for his home ownership to fix the family car that was recently damaged by hurricane Irma. As Financial Advisors you are to:
You are required to:
1. Prepare an Investment Policy Statement for Mr. Boldon.
In: Finance
Cato Boldon 32, CEO and founder of Optimum Athletics, reside in the island of Trinidad and Tobago with his wife and children. The business has been in operation since 2008. He decided to start the business during the financial crisis that hit the world in 2008 due his passion for track and field. The company has been experiencing a loss for the last two years and cash flows are beginning to tighten. A major customer owes the company US$100,000 for almost a year. He gets a salary of 5 million per annum from the business. He has savings of US$ 100,000 and his looking to invest to secure his financial future. He wants to enjoy both safety and capital gains. The government of Trinidad is currently in discussion on whether to grant small business in the manufacturing industry an incentive package. Boldon is considering his options. Should I sell the business or go back to management in a corporate enterprise. His has an Masters of Science Degree in Kinesiology.
His two children are aged 9 and 13 yrs old respectively and his wife is six months pregnant. His wife recently completed her Law Degree and is looking to called to the bar in Trinidad and Tobago in the next six months. Her husband had been contributing to her alumni Scholarship Fund for the last 5 years and wishes to continue. His father 60, is not doing well. He was recently diagnosed with diabetes. Boldon recently found out that his father has limited insurance coverage. Boldon is concerned about his retirement and his ability to finance his children education. He wanted the business to be part of his pension plan as he wanted the company to be listed on the Trinidad Stock Exchange. He had to use the deposit that he had saved for his home ownership to fix the family car that was recently damaged by hurricane Irma.
As Financial Advisors you are to: 1. Prepare an Investment Policy Statement for Mr. Boldon
In: Finance
Cato Boldon 32, CEO and founder of Optimum Athletics, reside in the island of Trinidad and Tobago with his wife and children. The business has been in operation since 2008. He decided to start the business during the financial crisis that hit the world in 2008 due his passion for track and field. The company has been experiencing a loss for the last two years and cash flows are beginning to tighten. A major customer owes the company US$100,000 for almost a year. He gets a salary of 5 million per annum from the business. He has savings of US$ 100,000 and his looking to invest to secure his financial future. He wants to enjoy both safety and capital gains. The government of Trinidad is currently in discussion on whether to grant small business in the manufacturing industry an incentive package. Boldon is considering his options. Should I sell the business or go back to management in a corporate enterprise. His has an Masters of Science Degree in Kinesiology.
His two children are aged 9 and 13 yrs old respectively and his wife is six months pregnant. His wife recently completed her Law Degree and is looking to called to the bar in Trinidad and Tobago in the next six months. Her husband had been contributing to her alumni Scholarship Fund for the last 5 years and wishes to continue. His father 60, is not doing well. He was recently diagnosed with diabetes. Boldon recently found out that his father has limited insurance coverage. Boldon is concerned about his retirement and his ability to finance his children education. He wanted the business to be part of his pension plan as he wanted the company to be listed on the Trinidad Stock Exchange. He had to use the deposit that he had saved for his home ownership to fix the family car that was recently damaged by hurricane Irma.
What is the asset allocation in this case study?
What investment strategy should be taken based on the asset allocation?
In: Finance
1) What is a simple way conduction deafness can be simulated? Explain how this simulates conduction deafness. Is there a simple way to simulate nerve deafness? Why or why not?
2) Compare nerve deafness to conduction deafness.
3) In your own words, describe how the procedure for the Rinne's Test differs from the procedure for the Weber's test. What type of a result would you see from each of these tests if an individual had normal hearing?
In: Anatomy and Physiology
A replication study dataset of the example from this chapter is given as follows (A = attractiveness, B = time; same levels). Using the scores from the individual cells of the model that follow, conduct a two-factor fixed-effects ANOVA (alpha = .05). Are the results different as compared to the original dataset?
A1B1: 10, 8, 7, 3
A1B2: 15, 12, 21, 13
A2B1: 13, 9, 18, 12
A2B2: 20, 22, 24, 25
In: Statistics and Probability
As an individual investor, you are attempting to invest in a
well- diversified portfolio of mutual funds so that you will be
somewhat insulated from any type of economic shock that may
occur.
a. An investment adviser recommends that you buy four different
U.S. growth stock funds. Since these funds contain over 400
different U.S. stocks, the adviser says that you will be well
insulated from any economic shocks. Do you agree? Explain.
In: Finance
Identify and shadow a leader known personally to you whom you consider to be effective, the leader may be from your workplace or other professional organization where you are involved, excluding members of your family. In shadowing the leader, observe what makes this individual effective; consider his or her strength
leadership styles, relationships, and interactions with followers. Based on this analysis, identify three lessons about leadership effectiveness that can be learned from this leader
In: Operations Management
Consumer & Office (15% of sales)[4]: Stationary; Office;
Home Care; Protection; Construction; Home Improvement; Visual
Systems
Business Strategy and Analysis
As an individual in your group, you analyze the business strategy
and analysis (Ch 3-7) of the individual business (i.e. division/
subsidiary/ business unit).
Individual component of your project should revolve around:
Conduct an external analysis (e.g. PESTEL, 5 Forces model,
Strategic Group Mapping) (Ch 3) and internal analysis (e.g. VRIO,
Isolating mechanisms, Dynamic capability) (Ch 4)
How does the individual business perform? (Ch 5)
What business strategies (e.g. Differentiation/ Cost-Leadership/
Blue Ocean Strategy) does it pursue? (Ch 6)
What stage of the industry lifecycle/ Crossing the Chasm is the
industry in? What types of innovations (4 Types/ Open vs Closed)
does the individual business have? (Ch 7)
In: Operations Management
Now analyze the impact of the emergence of the coronavirus (Covid-19). Assume the epidemic significantly reduces the demand for meat only and that there are no changes to the supply of meat. On the same graph you produced in Question 1, graphically depict any changes in the marketplace and any changes that impact the individual firm. Show the movements of the curves (if any) and the new Short Run Equilibrium (SRE). Indicate the new market equilibrium P1 and Q1, the optimal output of an individual firm representative of the other firms in the industry at this SRE (labeled as q1), and the individual firm’s profit, if any (shaded and clearly labeled). Provide a brief narrative explaining the movements and the resulting change in an individual firm’s profit, if any. Please make sure you address the changes in the market equilibrium quantity Q, market price P, and the individual firm’s profit maximizing quantity q, if any. Reminder: be sure to label all relevant points and axes.
In: Economics