At December 31, 2017, Flounder Corporation reported the following plant assets.

Land $ 5,883,000

Buildings $26,560,000

Less: Accumulated depreciation—buildings 23,384,925 3,175,075

Equipment 78,440,000

Less: Accumulated depreciation—equipment 9,805,000 68,635,000

Total plant assets $77,693,075

During 2018, the following selected cash transactions occurred.

Apr. 1 Purchased land for $4,314,200.

May 1 Sold equipment that cost $1,176,600 when purchased on January 1, 2011. The equipment was sold for $333,370.

June 1 Sold land for $3,137,600. The land cost $1,961,000.

July 1 Purchased equipment for $2,157,100.

Dec. 31 Retired equipment that cost $1,372,700 when purchased on December 31, 2008. No salvage value was received.

Journalize the transactions. Flounder uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Record adjusting entries for depreciation for 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

(To record depreciation on buildings.)

(To record depreciation on equipment.)

Prepare the plant assets section of Flounder’s balance sheet at December 31, 2018. (Hint: You may wish to set up T accounts, post beginning balances, and then post 2018 transactions.) (List Plant Assets in order of Land, Building and Equipment.)

FLOUNDER CORPORATION

Partial Balance Sheet

Assuming Database is not providing Referential Integrity Constraints support i-e Primary key, foreign key and Unique key, your task is to design a database engine with your own built in Referential integrity rules implementation and you need that only one database connection is maintained which an application should access.

Recommend proper design pattern used for the stated problem. Give reasons for selecting that pattern, create complete class diagram for the solution. The class diagram should also show the methods of the class and all the relations a class has with other classes. Also provide complete working code of the example

As an enterprise system developer, you need to develop the registration page of the employee management system. The administrator of the system registers a new employee using the GUI developed in JSP. The required table ‘Employee’ is provided in mysql database with columns as employee id, name, address, city, state and zip code as shown in figure.

Write a GUI snippet/JSP code with GUI components to take the user’s input. Separately, write the servlet code to insert the input records from the JSP page into the ‘employee’ table using JDBC (Java Database Connectivity).
Note: You may assume the username and password for the database connectivity.

Question 1
IAS 10: Events after the Reporting Period addresses two issues: adjusting events, namely, those events that provide evidence of conditions that existed at the end of the reporting period and non-adjusting events: which are those events that are indicative of conditions that arose after the reporting period that need to be reflected in the financial statements. Amounts recognized in the financial statements are adjusted to reflect adjusting events, but only disclosures are required for material non-adjusting events. Management’s judgment is required in determining whether events that took place after the end of the reporting period are adjusting or non-adjusting events. This will be highly dependent on the reporting date and the specific facts and circumstances of each company’s operations. Coronavirus has overwhelmed the world in various ways and at various times. China was the first to announce spread of the virus in November, 2019. UK announced its first case of coronavirus in February, 2020 and Ghana announced its first case in March, 2020. While company A resides in China, company B resides in the UK and C resides in Ghana. Company A’s financial reporting period ends on 31st October each year; company B’s financial reporting period ends on 31st December, each year and company C’s financial reporting period ends on the 31st of March each year. Management of these companies may need to continually review and update the assessments up to the date the financial statements are issued given the fluid nature of the crisis and the uncertainties involved.
You are required to discuss in respect of each of the companies, the potential management conclusions of the impact of the coronavirus on end of year reporting, mindful of IAS 10.
Total Marks: 20marks

IAS 10: Events after the Reporting Period addresses two issues: adjusting events, namely, those events that provide evidence of conditions that existed at the end of the reporting period and non-adjusting events: which are those events that are indicative of conditions that arose after the reporting period that need to be reflected in the financial statements. Amounts recognized in the financial statements are adjusted to reflect adjusting events, but only disclosures are required for material non-adjusting events. Management’s judgment is required in determining whether events that took place after the end of the reporting period are adjusting or non-adjusting events. This will be highly dependent on the reporting date and the specific facts and circumstances of each company’s operations. Coronavirus has overwhelmed the world in various ways and at various times. China was the first to announce spread of the virus in November, 2019. UK announced its first case of coronavirus in February, 2020 and Ghana announced its first case in March, 2020. While company A resides in China, company B resides in the UK and C resides in Ghana. Company A’s financial reporting period ends on 31st October each year; company B’s financial reporting period ends on 31st December, each year and company C’s financial reporting period ends on the 31st of March each year. Management of these companies may need to continually review and update the assessments up to the date the financial statements are issued given the fluid nature of the crisis and the uncertainties involved.
You are required to discuss in respect of each of the companies, the potential management conclusions of the impact of the coronavirus on end of year reporting, mindful of IAS 10.