1. From the following data, prepare a cash budget for the three months ending 31^st December,2019                                                                                                  

(1)

(2) Credit terms are:

       (a) sales/debtors- 50% sales are on cash basis, 50% of the credit sales are collected next month.

       (b) Creditors

• for materials- 1 months
• for wages- Same months
• for overheads – 1month

(3) Cash balance on ^1st October, 2019 is expected to be AED 5000.

.

Note: Answers should be Kindly in Word or Excel Format

record the following journal entries.

1) Jerry invested cash of $28,000, computer equipment of $8,200 and a vehicle valued at $28,000 in the business in exchange for common stock.

2) The company paid a security deposit of 1,000 to rent an office. The security deposit will be returned at the end of the lease if no damage occurs to the property.

3) The company paid a total of $3,600 rent for October, November and December.

4) The company purchased state of the art document scanning and imaging equipment by paying $9,200 up front and financing the balance of $7,400 with a note payable to the bank.

5) The company purchased a 12 month insurance policy for $4,800. The policy is effective on October 1.

6) The company purchased office supplies and paper for $850 on account

On November 1, 2018, Company borrowed $30,000 from a bank

1) sign a 12-month, 6% interest bearing note with interest and principal due on October 31, 2019. What should the company report on B/S, I/S and Statement of cashflow on Dec 31, 2018 and Dec 31, 2019?( Interest on the interest bearing notes is compounded monthly).

2) sign a 12-month, 6% non-interest bearing note due on October 31, 2019. What should the company report on B/S, I/S and Statement of cashflow on Dec 31, 2018 and Dec 31, 2019? (Interest on thenon-interest bearing notes is compounded monthly).

Hilton Ventures Ltd. had the following transactions:

A) Determine the amount of the employees’ net wages.

B) Prepare the journal entries necessary to record these transactions:

Oct. 31... to record wages payable to employees

Oct. 31... to record employer's liabilities

Nov. 2

Nov. 15  

**NOTE THAT EMPLOYERS MATCH EMPLOYEE CPP PREMIUMS AND PAY 1.4 TIMES THEIR EI PREMIUMS**

Pacific Ink had beginning work-in-process inventory of $744,960 on October 1. Of this amount, $304,920 was the cost of direct materials and $440,040 was the cost of conversion. The 48,000 units in the beginning inventory were 30 percent complete with respect to both direct materials and conversion costs.

During October, 102,000 units were transferred out and 30,000 remained in ending inventory. The units in ending inventory were 80 percent complete with respect to direct materials and 40 percent complete with respect to conversion costs. Costs incurred during the period amounted to $2,343,600 for direct materials and $3,027,840 for conversion.

a-1. Compute the cost of goods transferred out and the cost of ending inventory using the FIFO method.

On September 1, 2013, Susan Chao bought a motorcycle for $21,000. She paid $1,100 down and financed the balance with a five-year loan at an APR of 6.3 percent, compounded monthly. She started the monthly payments exactly one month after the purchase (i.e., October 1, 2013). Two years later, at the end of October 2015, Susan got a new job and decided to pay off the loan. If the bank charges her a 2 percent prepayment penalty based on the loan balance, how much must she pay the bank on November 1, 2015? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Please show calculation. Thank You

The ledger of Cranston Corporation has the following account balances at the company's first year end of October 31, 2018.

Prepare the closing entries at October 31, 2018.

C Question!

Problem: Given a day of the week (1-7 corresponding to Sunday through Saturday), the month number (1-12), and the year, determine whether that given month has five occurrences of the day of the week and display those dates.

Example Execution #1:

Enter day of week (1-7) -> 4

Enter month of the year -> 10

Enter the year -> 2019

Finding: There exists five Wednesday dates in October of 2019.

Dates: 2 9 16 23 30

Example Execution #2:

Enter day of week (1-7) -> 2

Enter month of the year -> 10

Enter the year -> 2019

Finding: There are not five Monday dates in October of 2019.

Report 1.

"How A Tax On Chicken Changed The Playing Field For U.S. Automakers"

German families in the 60s loved cheap American-raised chicken. And Americans loved cheap VW Beetles. The report is about how a trade dispute over frozen chicken parts changed the American auto industry.

In the early '60s, the U.S. was going through a Beetle invasion - and no, not John, Paul, George and Ringo. German Beetles cars were everywhere in the late '50s and early '60s.Everybody had to have one Beetle, two Beetles. They had to have a Beetle plus a Volkswagen bus. And it became sort of a cult object.

Now, while the U.S. was falling in love with the Beetle, postwar Europe had arisen again and was starting to buy cheap, delicious frozen American chicken. In Germany, there's a lot of fast-food fried chicken places, and it's an extremely popular food. And the U.S., of course, at the time and probably today, is the world's most efficient producer of chickens.

In one year, sales of U.S. chicken in West Germany went up nearly 23 percent. Now German chicken farmers got all worried, so their government slapped a nearly 50 percent tariff on our chicken. In retaliation, we looked around for something we could tax, so we found German pickup trucks. And in 1963, the U.S. put a 25 percent tariff on all trucks imported from outside the U.S. It's called the chicken tax. The chicken tax is one of the most important determinants of how the industry looks today and how it operates today in the U.S.

That's because essentially from that point forward, U.S. pickup truck makers had no foreign competition. He says if not for the chicken tax, pickup trucks in general would be less expensive, there would be more choice. And they would be more fuel efficient on average. The flipside of that is we would have fewer plants in the U.S. building pickup trucks.

Question 1.

What type of trade barrier is this report discussing? Can you list another FOUR types of trade barriers?

Question 2.

Is the chicken tax against free trade? Why do you think the chicken tax is still needed today?

Report 2.

"Organic Farmers Call Foul On Whole Foods' Produce Rating System"

Nobody really likes to be graded. Especially when you don't get an A.

Some organic farmers are protesting a new grading system for produce and flowers that's coming into force at Whole Foods. They say it devalues the organic label.

The rating system is called "Responsibly Grown." And the company developed it as a way to give customers more information about how their food is grown, says Matt Rogers, a global produce coordinator for Whole Foods.

The labels on produce at Whole Foods always told shoppers what country or state supplied those vegetables, as well as whether it was grown organically.

The new rating system takes into account much more.

Whole Foods is asking its suppliers to pay a fee to get into the program, then answer a long questionnaire. There are questions about how they protect the soil and wildlife on their farms, whether they limit their use of pesticides, how they conserve energy and irrigation water and how they treat their workers.

Based on those answers, a farm's produce gets a grade: Unrated, Good, Better or Best. Those grades show up right beside each bin of produce on brightly colored stickers with the words: "Responsibly Grown."

Rogers says that more than 50 percent of the farms that have gone through this process so far have been rated "Good." "We have few examples of 'Best' ratings at this point," he says.

But here's what is making organic farmers angry. At a Whole Foods store in Washington, D.C., I found nonorganic onions and tomatoes, presumably grown with standard fertilizers and pesticides, that were labeled "Best." A few feet away, I found organic onions and tomatoes that were graded merely "Good" or just "Unrated."

For Vernon Peterson, who grows and packs organic fruit in Kingsburg, Calif., this is dumbfounding.

"Organic is responsibly grown, for goodness sake," he says. "Organic should be the foundation of anything that Whole Foods might do."

Whole Foods says its new rating system is a way to talk to farmers and customers about issues that the organic rules don't encompass, like water, energy, labor and waste.

Peterson says that organic certification is harder to get and means more than the new ratings from Whole Foods. Following the organic rules is expensive, and there are third-party auditors making sure that you follow those rules, he adds. There are no such outside auditors in the Whole Foods system.

Question 1:

What kind of perspective has Whole Food demonstrated on their corporate social responsibility, minimalist, cynical, defensive, or proactive?

Question 2:

Is "Responsibly Grown" a Philanthropy program, or a strategic CSR program?

Question 3:

What stakeholders may benefit from Whole Food's new rating system?