Amanda Ltd is a manufacturing company operating in Parramatta, Sydney. The company has been successful since its inception in the early 1990 and has even won twice the “Best Corporate Citizen Award” presented by the City of Parramatta Council. The company has recently been facing multiple problems including declining profit, loss of inventory (through theft or spoilage) in the warehouse, and declining reputation from its stakeholders. Coincidently, all these problems started when the head of Accounting Department, Sofia Bryant, voluntarily retired from her position recently. Her retirement was provoked by a sarcastic comment made by the Sales Manager during board meeting, that “Amanda Ltd can cut down its cost by shutting down Accounting Department. After all we will even be better off without this department”.

Part A

1. Evaluate the statement, “Accounting is the Language of Business”.

2. Discuss how Accounting and Governance helped Amanda Ltd in winning the Best Corporate Citizen Award.

Part B

3. a. Why some firms might prefer a perpetual inventory system to a period inventory system?

b. Explain how using perpetual inventory system could help Amanda Ltd to minimise the loss of inventory.

4. How would the application of the principle of segregation of duties could prevent the loss of inventory at Amanda LTD?

Long-Term Financing Needed At year-end 2016, Wallace Landscaping’s total assets were $1.6 million and its accounts payable were $375,000. Sales, which in 2016 were $2.7 million, are expected to increase by 20% in 2017. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $475,000 in 2016, and retained earnings were $260,000. Wallace has arranged to sell $155,000 of new common stock in 2017 to meet some of its financing needs. The remainder of its financing needs will be met by issuing new long-term debt at the end of 2017. (Because the debt is added at the end of the year, there will be no additional interest expense due to the new debt.) Its profit margin on sales is 3%, and 50% of earnings will be paid out as dividends.

What was Wallace's total long-term debt in 2016? Round your answer to the nearest dollar.

What were Wallace's total liabilities in 2016? Round your answer to the nearest dollar.  

How much new long-term debt financing will be needed in 2017? (Hint: AFN - New stock = New long-term debt.) Round your answer to the nearest dollar.

Write a short description of a person suffering from this disorder but do not name this disorder. Be creative! It’s up to your classmates to correctly identify the disorder when they reply and to ask a follow up question that will give them more information to correctly diagnose the disorder. See the following for an example.

Dr. Holleran may write:

Jamie suffers feels anxious when she is in certain situations. She feels likes she can't breath and her heart races very fast. In fact, she feels like she may faint when she is in this situation. She flew on an airplane one time across the country and experienced a great deal of turbulence during her flight. She now refuses to see her grandmother who lives in Hawaii.

A student may write:

I think Jamie has a phobia of flying. How might a psychologist treat this? Maybe they would use a type of exposure therapy?

Dr. Holleran would reply:

You are correct! A psychologist could gradually expose Jamie to flying on an airplane to help cure her of the phobia. Maybe they could start by driving to the airport. Then they would eventually go into the airport and make it to the gate. Then, they could step into the airplane. Eventually she might be able to ride in an airplane. Can anyone else think of another way to treat her disorder?

The controller of Dash Shoes Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information:

The company expects to sell about 15% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax expense represent $6,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in July, and the annual property taxes are paid in November. Of the remainder of the manufacturing costs, 75% are expected to be paid in the month in which they are incurred and the balance in the following month.

Current assets as of March 1 include cash of $44,000, marketable securities of $62,000, and accounts receivable of $128,600 ($101,000 from February sales and $27,600 from January sales). Sales on account for January and February were $92,000 and $101,000, respectively. Current liabilities as of March 1 include a $58,000, 12%, 90-day note payable due May 20 and $6,000 of accounts payable incurred in February for manufacturing costs. All selling and administrative expenses are paid in cash in the period they are incurred. It is expected that $3,500 in dividends will be received in March. An estimated income tax payment of $16,000 will be made in April. Dash Shoes' regular quarterly dividend of $6,000 is expected to be declared in April and paid in May. Management desires to maintain a minimum cash balance of $34,000.

Required:

1. Prepare a monthly cash budget and supporting schedules for March, April, and May. Input all amounts as positive values except overall cash decrease and deficiency which should be indicated with a minus sign. Assume 360 days per year for interest calculations.

In a detailed paragraph (2) please write about current prevention methods, and treatment when it comes to covid 19

- 1 paragraph for prevention methods

- 1 paragraph for treatment

Please be as detailed as possible ... Please do not just write anything that doesn't Make sense

Thank you

IMPORTANT: If you are going to write please make sure your writing is neat, legible, and easy to read. Please write in print (not cursive). Thank you

The following information is available concerning the inventory of Carter Inc.:

During the year, Carter sold 994 units. It uses a periodic inventory system.

Required:

1. Calculate ending inventory and cost of goods sold for each of the following three methods:

In your calculations round average unit cost to the nearest cent, and round all other calculations and your final answers to the nearest dollar.

2. Assume an estimated tax rate of 30%. How much more or less (indicate which) will Carter pay in taxes by using FIFO instead of LIFO?

On January 1, a company issues bonds with a par value of $500,000. The bonds mature in 5 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 12%. Calculate the sale price and record the journal entry for this sale. Using the straight-line method, calculate the amount of interest expense for the first semiannual interest period and record the journal entry.

A 14.5 m uniform ladder weighing 510 N rests against a frictionless wall. The ladder makes a 55.0° angle with the horizontal.

(a) Find the horizontal and vertical forces the ground exerts on the base of the ladder when an 810 N firefighter is 4.10 m from the bottom.
Magnitude of the horizontal force
N Direction

towards the wallaway from the wall    

Magnitude of the vertical force
N Direction

updown    

(b) If the ladder is just on the verge of slipping when the firefighter is 9.20 m up, what is the coefficient of static friction between ladder and ground?

What does Richard Feynman mean by cargo cult science?

Provide examples and answer in 200 words

2. Write the General Ledger and Reporting General Controls used in companies to overcome the threats.

            You are about to set up a new automobile repair business.

            Explain:

a.         What are all the essential functions of the human resource department of automobile repair business

            b.       What is a performance evaluation/appraisal?

c.         Explain the advantages and disadvantages of a performance appraisal/evaluation to the employee.

Describe the importance of attachment on the development of infants and toddlers. How does the attachment process look different for infants (0-1 year) vs. Toddler (2-3 years) Be sure to describe what should be done in the classroom to support attachment. What should be the regular teaching practices? What should be seen in the physical classroom environment? What can be done to support parents understanding of attachment benefits?