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MKT301 Midterm Instructions: Read the scenario below carefully. Your answers to the five (5) short essay questions below must apply specifically to the firm and situation described in the scenario. Answer each of the questions fully, yet concisely, being sure to avoid fluff and irrelevant information. You may use charts, graphs, and other display […]
1. Liquidity ratios. Edison , Stagg , and Thornton have the following financial information at the close of business on July 10: EdisonStaggThornton Cash $ 4,000 $ 2,500 $ 1,000 Short-term investments 3,000 2,500 2,000 Accounts receivable 2,0002,5003,000 Inventory 1,0002,5004,000 Prepaid expenses 800 800800 Accounts payable 200 200200 Notes payable: short-term […]
Assignment 2: Case Study Development and Theoretical Explanation In today’s world, stress is inescapable. Stress can be a major factor in physical and psychological illnesses. Stress is closely related to fear, panic, and anxiety. A number of relatively common psychological disturbances share symptoms that include anxiety as a central component. The somatoform disorders involve a […]
1. Partner investments; journal entries. The LP partnership was formed on January 1, 19X7, by investments from Bill Levy and Marv Parcells. Levy contributed $30,000 cash and $80,000 of land. Parcells contributed cash of $50,000 and equipment with a value of $20,000.a. Prepare the journal entries needed to record the investments of Levy and Parcells.2. Payroll accounting. Assume […]
Inventory1. Specific identification method. Boston Galleries uses the specific identification method for inventory valuation. Inventory information for several oil paintings follows. Painting Cost1/2 Beginning inventoryWoods$11,0004/19 PurchaseSunset21,8006/7 PurchaseEarth31,20012/16 PurchaseMoon4,000Woods and Moon were sold during the year for a total of $35,000. Determine the firm’sa. cost of goods sold.b. gross profit.c. ending inventory.2. Inventory valuation methods: basic computations. The January beginning inventory […]
Revenue and Expenses1. Recognition of concepts. Ron Carroll operates a small company that books entertainers for theaters, parties, conventions, and so forth. The company’s fiscal year ends on June 30. Consider the following items and classify each as either (1) prepaid expense, (2) unearned revenue, (3) accrued expense, (4) accrued revenue, or (5) none of the […]
Based in this scenario: John Jones is the father of 10-year old Jimmy, who plays on a park district hockey team. Jones served as an assistant coach for the team this year. Neither the head coach nor Jones receives any pay for their work with the team as they work entirely on a […]
Firm A has $10,000 in assets entirely financed with equity. Firm B also has $10,000 in assets, but these assets are financed by $5,000 in debt (with a 10 percent rate of interest) and $5,000 in equity. Both firms sell 10,000 units of output at $2.50 per unit. The variable costs of production are $1, […]
Research different job descriptions on the Internet. Look for positions such as an executive chef or sous chef of a hotel or restaurant. Select one job description. Cite the source from which you found your job description. Briefly explain what the job description is and then write a want ad based on the job description […]
Scenario: Imagine you are an employee of Party Plates, a company that manufactures decorative paper plates and napkins for special events. Your team has been assigned a new project. The president of your company has tasked you with improving the efficiency of the current information systems used in the sales department, because the current […]
