Linx Ltd has acquired 70% of shares of Digital Ltd, and 35% of the shares of Innex Ltd. If Linx Ltd was not a parent and therefore did not prepare consolidated financial statements, discuss what the differences would be in the equity accounting for Innex Ltd. (Assume 35% does not constitute control).

“What, in your opinion, is the importance of performance management system and how would the knowledge and skills you have acquired about the performance management system in this course help you in your career as an effective manager? Use your personal examples to illustrate your reflections.” About 1000words

1. How would you prepare a team of three managers to go to Warsaw, Poland, to oversee the operations of a recently acquired financial services firm? They will be leaving in one month, and the assignment lasts two years.

1. How are career paths useful for employees? How can they contribute to company effectiveness?

Based on information given in the attached Excel document, 1. Prepare journal entries and adjusting entries for September 2019 for your company. 2. Set up T-accounts and post your journal entries and adjusting entries to T-accounts. 3. Prepare your company’s pre-closing trial balance, as of September 30, 2019. 4. Prepare an income statement, in a good format, for the month of September 2019 for your company. 5. Prepare a statement of retained earnings, in a good format, for the same period. 6. Prepare a balance sheet, in a good format, as of September 30, 2019 for your company. 7. Prepare closing entries and a post-closing trial balance, as of September 30, 2019.

Description of the Business Activity:

1. You, the owner(s), contributed $1,000 cash to the business on September 1. 2. On September 1, your company borrowed $21,000 from a local bank, on a 10% note for 5 years. The interest would be paid semi-annually on each March 1 and September 1. 3. On September 1, your company paid $900 fees to local government agencies for business licenses and permits, for a period of one year. 4. On September 1, your company acquired a mobil cart, a business sign, and some other equipment for a total of $4,200 (all paid in cash). You estimated that the lifetime of these PP&E was 2 years with a residual value of $200. 5. On September 1, your company also paid $1,500 for its annual insurance, starting September 1. 6. During September, your company acquired merchandise, totaled $35,000. At the time of purchases, 70% of the merchandise was acquired on account. Your company promised to pay the remaining balances in 20 days. 7. For merchandise purchases in Transaction 6, toward the end of September, your company also paid in cash, an additional 20% of the total merchandise prices to its suppliers. 8. During September, your company delivered merchandise and earned $50,000 sales revenue, of which 30% was on credit. Cost, to your company, of the merchandise sold, was $27,000. 9. On September 26, your company also signed a sales contract with a customer, Mini-Soda Company to deliver a total of $5,000 merchandise on October 7, 2019. Your company collected $2,000 cash in advance from this customer on September 26. 10. By the end of September, your company collected 50% of its accounts receivables from various customers from the abovementioned Transaction 8. 11. By the end of September, your company incurred and paid a total of $8,000 in cash for its other selling expenses (including advertising, marketing, payroll, cart transportation, trailer rental, etc.).

Additional Information:

12. Your company incurred monthly interest expense on its debt borrowing as described in Transaction 2. 13. At the end of September, your prepayment, from Transaction 3, on business licenses and permits expired for the month. 14. As described in Transaction 4, your company's PP&E had an estimated life of 2 years with a $200 residual value. Your company used the straight-line depreciation method. 15. At the end of September, your prepayment, from Transaction 5, on insurance expired for the month. 16. At the end of September, your company estimated 10% of its outstanding accounts receivables as possible uncollectible. 17. The income tax rate was 20% for your company, which would be paid in March 2020.

At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows:

Depreciation methods and useful lives:
Buildings—150% declining balance; 25 years.
Machinery and equipment—Straight line; 10 years.
Automobiles and trucks—150% declining balance; 5 years, all acquired after 2014.
Leasehold improvements—Straight line.
Land improvements—Straight line.

Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2018 and other information:

On January 6, 2018, a plant facility consisting of land and building was acquired from King Corp. in exchange for 34,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $50 a share. Current assessed values of land and building for property tax purposes are $210,000 and $630,000, respectively.

On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $246,000. These expenditures had an estimated useful life of 12 years.

The leasehold improvements were completed on December 31, 2014, and had an estimated useful life of eight years. The related lease, which would terminate on December 31, 2020, was renewable for an additional four-year term. On April 30, 2018, Cord exercised the renewal option.

On July 1, 2018, machinery and equipment were purchased at a total invoice cost of $334,000. Additional costs of $10,000 for delivery and $59,000 for installation were incurred.

On August 30, 2018, Cord purchased a new automobile for $13,400.

On September 30, 2018, a truck with a cost of $24,900 and a book value of $10,800 on date of sale was sold for $12,400. Depreciation for the nine months ended September 30, 2018, was $2,430.

On December 20, 2018, a machine with a cost of $21,500 and a book value of $3,200 at date of disposition was scrapped without cash recovery.

Required:

1. Prepare a schedule analyzing the changes in each of the plant asset accounts during 2018. Do not analyze changes in accumulated depreciation and amortization.
2. For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2018

Prepare a schedule analyzing the changes in each of the plant asset accounts during 2018. Do not analyze changes in accumulated depreciation and amortization.

For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2018. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.)

SPRING TRAINING INC.  

Balance Sheet                            

December 31, 2017

ASSETS                                                         LIABILITIES

Cash                              $25,000             Accounts Payable                 $50,000

Accounts Rec.                   5,000             Mortgage Payable                 50,000

Inventory                        14,000              

Supplies                            2,000             Total Liabilities                                  $100,000

Land                                18,000

Buildings      $220,000                             STOCKHOLDER EQUITY

    Acc. Depr. <20,000> 200,000          

Equipment     200,000                             Common Stock $5 Par      $30,000

    Acc. Depr <14,000> 186,000             Excess of Par                     $300,000

                                                                  Retained Earnings               20,000

      Total Equity                                     $350,000

TOTAL ASSETS        $450,000              TOTAL LIAB. & EQUITY         $450,000

Jan. 2]     Sold 200,000 shares of common stock for $2,600,000.

Jan. 3]    Purchased on account $40,000 of inventory for resale to customers. Terms

              were 5/60 net 90.

Jan. 10] Paid $5,000 for promotion & marketing expenses. Promotion would run

   through the month of January 2018.

Jan. 15] Purchased a 3-year insurance policy for $3,600 in cash. Effective date is

   January 1, 2018 to December 31, 2020.

Jan. 27]   Paid in full for purchases acquired January 3, 2018.

Feb. 1]    Paid $3,000 as a mortgage payment. The balance on the mortgage is listed

    on the balance sheet dated December 31, 2017. Interest Rate is 8 per cent.

Feb. 10] Sales revenue generated was $400,000. $10,000 in cash received this date

    the balance on account. Terms 4/60 net 60 days.

Feb. 27]   Paid wages for the months of January and February 2018. Total wages

     that was paid for the two months was $40,000.

Mar. 1]   Acquired $200,000 of equipment. Useful life is 10 years. Signed a note

    (12%) for entire amount.

Mar. 1]    Declared a dividend of 50 cents per share.

Mar. 1]    Customer returned $25,000 of items acquired on February 10, 2018.

Mar. 1]    Signed a lease for warehouse space rental period is from April 1, 2018 to

                 December 31, 2018. A $10,000 deposit was paid on March 1.

Mar. 1]    Borrowed $80,000, and signed a note for this amount at 10%.

Mar. 3]    Paid the February Mortgage payment only this time $7,000 was paid.

Mar. 6]   Sales on account to customers amounted to $200,000. Terms are 10/60 net

     90 days.

Mar. 15]   Received full amount due from the February 10 sale.

Mar. 15]   Customer returned items that were sold for $35,000 on March 6, 2018.

Mar. 17]   Purchased $40,000 of inventory and terms were 8/30 net 90. This was a

      cash purchase.

Mar. 30]   Supplies were now determined to be $500.

Mar. 31]   Customer paid in full for the March 6 sale.

Mar. 31]   Spring Training paid $20,000 in wages for the month of March.

Mar. 31]   Paid $30,000 on the equipment note entered on March 1, 2018.

OTHER INFORMATION

1. Tax rate is 20%.

2. All equipment has a useful life of ten years.

4. Building has useful life of 20 years.

5. Ending Inventory for Spring Training Inc. is $20,000.

Rquirement:

PREPARE A SET OF FINANCIAL STATEMENTS FOR THE QUARTER ENDING MARCH 31, 2018

Please prepare for T accounts, Journal Entry, Income statement, Balance sheet and statement of Retained Earnings

Mt. Kinley is a strategy consulting firm that divides its consultants into three classes: associates, managers, and partners. The firm has been stable in size for the last 20 years, ignoring growth opportunities in the 90’s, but also not suffering from a need to downsize in the recession at the beginning of the 21^st century. Specifically, there have been--- and are expected to be--- 300 associates, 100 managers, and 30 partners.

The work environment at Mt. Kinley is rather competitive. After five years of working as an associate, a consultant goes “either up or out”; that is, becomes a manager or is dismissed from the company. Similarly, after another five years, a manger either becomes a partner or is dismissed. The company recruits MBAs as associate consultants; no hires are made at the manager or partner level. A partner stays with the company for another 10 years (a total of 20 years with the company).

How many new MBA graduates does Mt. Kinley have to hire every year?

What are the odds that a new hire at Mt. Kinley will become partner (as opposed to being dismissed after 5 years or 10 years)?

You have recently been hired by Corporation X. Their finance person just up and quit and they need the annual report finished up. Knowing that you just finished your MBA and you were a Finance whiz, they have you step in to clean things up.

1. Utilizing the following data you will create an income statement and balance sheet for Corporation X.

2. You will then generate a common size balance sheet and a common size income statement for Corp. X.

Data (all U.S. $s):

Cash: 74,000

Inventories: 870,000

Accounts Receivable: 450,000

Fixed Assets: 420,000

Cost of Goods Sold: 3,560,000

Selling, general, and admin expenses: 360,000

Accounts Payable: 320,000

Notes Payable: 110,000

Accruals: 160,000

Long-term Debt: 420,000

Common Stock: 565,000

Retained Earnings: ?

Sales: 4,250,000

Depreciation and Amortization: 146,000

Taxes (35%): ?

Per Share Data:

EPS: $4.71

Cash dividends per share: $0.95

P/E ratio: 5.0

Market Price (average): $23.57

Number of shares outstanding: 23,000

1. Based on historical data, your manager believes that 31% of the company's orders come from first-time customers. A random sample of 146 orders will be used to estimate the proportion of first-time-customers. What is the probability that the sample proportion is greater than than 0.22?
Note: You should carefully round any z-values you calculate to 4 decimal places to match wamap's approach and calculations.

2. Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is 157000 dollars. Assume the standard deviation is 39000 dollars. Suppose you take a simple random sample of 84 graduates.
Find the probability that a single randomly selected salary is less than 160000 dollars.
Answer =
Find the probability that a sample of size n=84 n=84 is randomly selected with a mean that is less than 160000 dollars.
Answer =
Enter your answers as numbers accurate to 4 decimal places.

Suppose that there are 100 students entering the Master’s of Business Administration program. Of these students, 20 have two years of work experience, 30 have three years of work experience, 15 have four years of work experience, and 35 have five or more years of work experience.

a) One of the students is selected at random. What is the probability that this student has at least three years of work experience?

b) The selected student has at least three years of work experience. What is the probability the student has four years of work experience?

c) Three students are selected at random. Calculate the probability that all three students have five or more years of work experience. Describe the key assumption required to make the calculation and comment on whether the assumption is reasonable.

d) Would it be reasonable to use the probability calculated in part a) as an estimate of the proportion of students entering the MBA degree program who have at least three years of work experience? Explain your answer. Limit your explanation to at most five sentences.