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The concept of the accounting entity is considered by some to be the most fundamental of all accounting concepts. Discuss the concept and its pervasiveness in all of accounting. Does the concept apply to units created by or under law? To all activities of an owner or group of owners? To the U.S. economy? Solution The answer is as follows: Unit created by or under Law: The units which are created by or under law are, partnerships, corporations, and sometimes sole proprietorships which are accounting entities. product line segment of an enterprise: The product line segments of an enterprize are departments, division, branch, profit center and cost center, which are treated as accounitng entities. The example taken into consideration is when a financial reporting was supported by SEC, Investors, members of accounting profession and financial executives. A combination of legal units: Large organisations submit the consolidated financial report for two or more legal entities which comprise a controlled and manages economic entity. The financial reports for a organisation which includes two or more product line segments will also be considered as a single legal entity in consolidated reports. All activities of the owner or a group of owners: Business enterprise is defined as seperate and distinct from other activities of owners but it can be defined as all the activities of the owner or group of owners. The example considered is when the financial statements for the individuals and financials of an individual estate. The Economy of United States: The National income accounts are compiled by the U.S. Department of Commerceand are reported on regular basis. .
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2. money-laundering: You can think of money-laundering as a process where money making is done from suppose source X but its look like that money making source is Y. In money-laundering, criminals hide the original illegal source of income and they try to prove that income is coming from legal source.
Criminals targets following peoples:
1. People with high profile image in society.
2. People with rich background
3. People with most shares and stacks.
.
The computation of a safe installment payment for the XYZ partnership.docx
The computation of a safe installment payment for the XYZ partnership resulted in only partner Z receiving cash. Which of the following statements is correct? I. Partner Z lent the partnership cash, and the partnership had to pay back the loan to Z before distributing cash to X and Y. II. After assuming all noncash assets were potentially worthless and that assumed capital deficits created in X\'s and Y\'s capital balances were losses to be allocated to Z; Z\'s capital balance was the only capital balance left with a credit. (Points : 1) I only II only Either I or II Neither I nor II
Solution
The answer for the above question would be:
II only (Z before distributing cash to X and Y. II. After assuming all noncash assets were potentially worthless and that assumed capital deficits created in X\'s and Y\'s capital balances were losses to be allocated to Z; Z\'s capital balance was the only capital balance left with a credit ).
Explanation for the Answer is provided below:
Under safe installment payment system, cash is paid to the partner, who still has excess credit in his account at the time of liquidation. Here, Z received all the cash, which means that the amount of capital deficit in X and Y can be allocated to Z. In other words, the amount of deficit in the capital accounts of X and Y will be borne by Z.
.
The component that connects a devices (a computer) to the communicatio.docx
The component that connects a devices (a computer) to the communication media is call a/an _____________.
Solution
1. Ethernet card or Network Interface Card ( NIC) is the component that connects a device to the communication media. NIC is an expansion card that enables a device (computer) to connect to a network using an Ethernet cable with the help of RJ-45 connector.
2. Network Interface Card acts as an interface hardware that allows a device (computer) to interface with a network system. An example of network system can be LAN system.
3. NIC has a micro processor that takes care about communications that takes place from the computer.
4. Computer just gives the data to the NIC, NIC present in the computer works along with another NIC for proper data transmission, error handling.
5. Most of the computer systems have NIC directly builtin on motherboard.
.
The CEO of US Xpress wants to meet with your team and have you provide.docx
The CEO of US Xpress wants to meet with your team and have you provide insight into how his company got into this \"plenty of data but not in a useful form\" mess. Further, he wants your suggestions on what US exppress can do moving forward regaurding the infrastructure in general and what you think are the next steps the company should take.
The breakdown of this:
How did Xpress get into \"plenty of data but not in a useful form\" mess?
How can they improve their infrastructure?
What steps should they take?
Solution
1.
The firm has gathered data form various sources like bankers, private institutions, and collection through telephone and e-mail. The firm has collected it from various sources and those data’s are collected for various purposes. The data’s are unprocessed and mixed. Thus, these plenty of data are not in a useful form.
2.
Infrastructure can be improved in the following ways:
3.
The steps that the following firm must take are as follows:
.
The case notes that Nationwide had in mind a simple goal- but faced a.docx
The case notes that Nationwide had in mind a simple goal, but faced a difficult challenge. Why was this so difficult? What was the scenario the three executives faced when they joined Nationwide? How had the company gotten there?
Solution
The simple goal of Nationwide way to analyze the financial data and it proved to be challenging because at that point, the organization did not have a acomprehensive data storage and retrieval process. To make matters worse, the data was fragmented across various levels and even the authencity of the same could be questioned.
The goal was simple:
Why it was so difficult:
Nationwide has such a variety of business and the company carried a lot of risk, The data governance can happen only when the various constituencies that own the data sources agree on a comman set of definitions, rules and procedures.
But political manevering not for the faint of heart and most aspect was sticking to displine and not wavering.
The executive done the following activities when joining togethere.
.
The capital budgeting analytical technique that calculates the rate of.docx
The capital budgeting analytical technique that calculates the rate of return on the investment based on the impact of the investment on the financial statements is known as the:
Solution
Correct Answer is B => Accounting rate of return
Reason: Accounting rate of return takes in account the net income that will be generated by the project and it does not focuses only on cash flows. On the other hand, IRR, NPV and payback period focus only on cash flows of the project and not on the effect on financial statement.
.
The balance sheet is the cornerstone of the financial statements- The.docx
The balance sheet is the cornerstone of the financial statements. The SEC has always wanted and expected more information and disclosure in the financial statements. Starting with the balance sheet, how could we expand on what is reported and how to disclose the information? Secondly, should we expand on what is available? Is there sufficient information already disclosed and in fact, are we possibly disclosing too much to the common reader as it is?
Solution
The balance sheet is a summary of firms\' assets and liabilities, including share capital and reserves at a defined moment in time. I t has been described as a snapshot or still picture of the financial position of a business entity
The various groups interested in the company can also draw useful inferences form an analysis of the information contained in the balance sheet.
The information contained in published financial statements is of particular importance to external users, such as shareholders and investors. Without such information they would not be able to take right decisions about their investments.
Therefore, it is of utmost importance for a company to disclose all its financial information to its stakeholders so that they can make correct decision regarding the investment.
However a note of caution that companies may choose to hold information that could impinge on competition or any other information of its kind that could result in its competitors gain a strategic advantage .
But with respect to investors a firm should disclose all the pertinent information needed to make an investment decision.
.
The capital account balances for Donald & Hanes LLP on January 1- 2011.docx
The capital account balances for Donald & Hanes LLP on January 1, 2011, were as follows:
Donald, capital : $200000
Henes, capital: $100000
Donald and Hanes shared net income and losses in the ratio of 3:2, respectively. The partners agreed to admit May to the partnership with a 35% interest in partnership capital and net income. May invested $100,000 cash, and no goodwill was recognized.
What is the balance of May\'s capital account after the new partnership is created? Please show the work.
A. $84,000.
B. $100,000.
C. $140,000.
D. $176,000.
E. $200,000.
Solution
OLD Ratio New Ratio
Donald, capital : $200000 60 % 39%
Henes, capital: $100000 40 % 26%
MAY 35 %
Total capital 400000$ may being 35 % hence his capital would be 140000 $
.
the bookkeeper of vitial inc has asked to assist him with preparation.docx
the bookkeeper of vitial inc has asked to assist him with preparation of financial information about the company\'s trade receivables for presentation in the statement of financial position at december 31 2015, the end of the company\'s fiscal year.
Trade receivable jan 2015 500,00
allowance for doubtful accounts jan 2015 25,00
1)determine the balance of trade receivable ?
2)vital estimate 6% wont be collected, prepare ournal entry /?
3)how the information is presented on the financial statement?
4)
Solution
a) The balance of trade receivable is 475
b) Journal Entry:
c) The information is presented on the financial statement is:
Account receibles   475 ; A llowance for doubtful accounts (28.50)
.
The balanced scorecard integrates financial and nonfinancial measures.docx
The balanced scorecard integrates financial and nonfinancial measures that relate to four perspectives: financial, customer, internal business, and learning and growth. This view of a company places emphasis on both financial and nonfinancial measures, because each contributes to the understanding of a company\'s performance.
List two possible performance measures for each of the four perspectives included in the balanced scorecard.
Solution
FINANCIAL PERSPECTIVES:
Share price, Return on capital employed, Profitability, Operating ratios and loss ratios, Profit growth.
CUSTOMER PERSPECTIVES:
Customer satisfaction, Customer loyalty, New customer acquisition, Fast response.
INTERNAL BUSINESS PERSPECTIVES:
Inventory management, Quality, Motivation work team, Improvements in technology.
LEARNING AND GROWTH PERSPECTIVES :
New product development, HR development,Product diversification,Technological leadership.
.
The balance sheet for the partnership of Nina- Pinta- and Santa Maria.docx
The balance sheet for the partnership of Nina, Pinta, and Santa Maria at January 1, 2014 follows. The partners share profits and losses in the ratio of 3:2:5, respectively.
Nina is retiring from the partnership. By mutual agreement, the assets are to be adjusted to their fair value of $540,000 at January 1, 2014. Pinta and Santa Maria agree that the partnership will pay Nina $135,000 cash for her partnership interest. There is no goodwill is to be recorded. What is the balance of Pinta\'s capital account after Nina\'s retirement?
Solution
Solution:
Option C. $120,000.
On adjustment of assets to fair value, the appreciation recorded will be $60,000 ($540,000-$480,000).
Nina is paid $135,000, that is, $60,000 ($135,000-$75,000) over and above the capital on her B/S was paid to her.
Thus, all the appreciation in assets was given to Nina for her partnership interest. Consequently, capital accounts of Pinta and Santa Maria remained unchanged at $120,000 & $150,000 respectively.
.
Palindromes A palindrome is a word or phrase that reads the same backw (1).docx
Palindromes
A palindrome is a word or phrase that reads the same backwards and forwards, ignoring punctuation, spaces, and anything that isn’t a letter.
Examples of Palindromes
Madam, I’m Adam.
Kayak
Racecar
A man, a plan, a canal – Panama!
Able was I, ere I saw Elba.
C Program ONLY (Please not C++ or Java)
I need to write a program that does the following *USING STRINGS TO PERFORM THE FOLLOWING*:
1. Opens a text file named “Lab12input.txt†containing multiple lines of text (which is already provided for me)
2. For each line, print out the condensed version of that line of text with all non-alphabetic characters removed, and all alphabetic characters turned into lower case.
Solution
#include <stdio.h>
#include <ctype.h>
int main()
{
FILE *fp;
fp = fopen(\"Lab12input.txt\",\"r\");
char ch;
ch = getc(fp);
while(ch!=EOF){
if(ch==\'\ \')
printf(\"%c\",ch);
else if(isalpha(ch))
printf(\"%c\",tolower(ch));
ch = getc(fp);
}
return 0;
}
.
Palindromes A palindrome is a word or phrase that reads the same backw (2).docx
Palindromes
A palindrome is a word or phrase that reads the same backwards and forwards, ignoring punctuation, spaces, and anything that isn’t a letter.
Examples of Palindromes
Madam, I’m Adam.
Kayak
Racecar
A man, a plan, a canal – Panama!
Able was I, ere I saw Elba.
C Program ONLY (Please not C++ or Java)
I need to write a program that does the following: *USING STRINGS TO PERFORM THE FOLLOWING*:
1. opens a text file named “Lab12input.txt†containing multiple lines of text (.txt file has been provided already just need code to open .txt file)
2. for each line, print out “Palindrome:†and then the line of text if it IS a palindrome, and print out “Not a palindrome:†and the line of text if it is NOT a palindrome.
Thanks!
Solution
int checkispallindrome(char* string)
{
int i;
int l = strlen(string);
for (i = 0; i < l / 2; i++)
{
if (string[i] != string[l - i - 1])
cout<<â€not a palindromeâ€;
}
cout<<â€it is a palindromeâ€;
}
int main()
{
FILE* f = fopen(\"myfile.txt\", \"r\");
char string[10];
while(fscanf(f, \"%s\", string) > 0)
{
checkispallindrome(string;
printf(\"%s\ \", string);
}
}
.
Palindromes A palindrome is a word or phrase that reads the same backw.docx
Palindromes
A palindrome is a word or phrase that reads the same backwards and forwards, ignoring punctuation, spaces, and anything that isn’t a letter.
Examples of Palindromes
Madam, I’m Adam.
Kayak
Racecar
A man, a plan, a canal – Panama!
Able was I, ere I saw Elba.
C Program ONLY (Please not C++ or Java)
I need to write a program that does the following:
1.opens a text file named “Lab12input.txt†containing multiple lines of text (which is already provided for me)
2.for each line, print out the condensed version of that line of text with all non-alphabetic characters removed, and all alphabetic characters turned into lower case.
Solution
#include<stdio.h>
#include<stdlib.h>
int main()
{
FILE *f= fopen(\"Lab12input.txt\",\"r\");
char ch;
while(fscanf(f,\"%c\",&ch)!=EOF)
{
if(ch==\'\ \')
{
printf(\"%c\",ch);
continue;
}
if(ch>=\'a\' && ch<=\'z\')
{
printf(\"%c\",ch);
}
else if(ch>=\'A\' && ch<=\'Z\')
{
ch = ch-\'A\'+\'a\';
printf(\"%c\",ch);
}
}
return 0;
}
.
PAD601 Comment in detail on the events of each date 1880- 1881- 1883-.docx
PAD601
Comment in detail on the events of each date 1880, 1881, 1883, 1885 and 1886 as they relate to the work that was accomplished in public administration prior to the Woodrow Wilson article entitled The Study of Administration in 1887.
Solution
In 1880, Sir Frederick Weld arrived in the Straits Settlements. He began to take personal interest in the development of the Malay States. In the middle of 1881, Weld visited the town of Taiping, in Perak. He found \"the revenue increasing and everything going on excellent well...\" but \"labour for public works and roads and to develop other industries and sources of revenue besides tin-mining,\" he lamented, \"is the great want\". he also reported that:
\"Water supply for Taiping from the hill (Maxwell Hill), the roads to Krian, which will connect Taiping town centre with Province Wellesley, and a rail and tramway from Taiping to the port (Port Weld, which was named after him) are amongst the next most necessary works to be undertaken. the town of Taiping has been much improved since the fire, which took place rather more than a year ago; new streets have been laid out to considerable width, and a better class of houses has been built\"
The construction of the Taiping - Port Weld railway was the beginning of a major transformation altering radically the landscape of the Malay Peninsula. It also brought the first influx of Indians (mainly Tamils) and Ceylonese to Perak. Sir Frederick Weld was in Taiping again in 1883 where he \"inspected everything\". He spent time going down the Port Weld railway line, then in the course of construction, \"on a truck behind the Engine\". He also put into effect plans to build a telegraph line along the road linking Taiping with Province Wellesley. It was nearing completion after which a railway along the same route would be constructed.
.
P5- Use the financial information below to calculate and interpret the.docx
P5. Use the financial information below to calculate and interpret the following ratios:
A) Capital acquisitions ratio.
B) Quality of income ratio.
Solution
A) Capital acquisitions ratio
The capital acquisition ratio reflects the company\'s ability to finance capital expenditures from internal sources. A ratio of less than 1 indicates that capital acquisitions are draining more cash from the business than they are generating revenues.
Capital Acquisition Ratio = (cash flow from operations - dividends) / cash paid for acquisitions.
B) Quality of income ratio
It is a tool to evaluate a business\' earnings performance. The ratio shows the percentage of earnings that have been actualized in cash. A high ratio is desirable because it indicates a large amount of earnings turning into profits.
Quality of income = Cash flow from operating activities / Net income
.
Pablo own small transportation firm in Latvia- His trucks delivers goo.docx
Pablo own small transportation firm in Latvia. His trucks delivers goods from three plants located in Riga, Sigulda and Jelgava to three warehouses located in Olaine, daži and Ogre. Transportation costs for one unit from Riga are: to Olaine 9 EUR, to Adazi 10 EUR, to Jelgava 9 EUR. From Sigulda: 13 EUR, 9 EUR, 14 EUR. From Ogre 11 EUR, 15 EUR, 6 EUR. Riga\'s supply is 10200 units, Sigulda\'s 15400 units, Ogre\'s 19800 units, Demand from Olaine is 15900 units, from Adazi 16600 units, from Jelgava is 12900 units. Create delivery plan, that minimize costs.
(step by step please )
Solution
Transportation costs for one unit in EUR
so delivery plan, that minimize costs
Step 1 : Riga supply 10200 units to Olaine
Step 2 : Sigulda supply 15400 units to Adazi
Step 3 : Orge supply 12900 units to Jelgava, 1200 units to Adazi and 5700 units to Olaine.
Step 4 : minimize cost = 10200*9 + 15400*9 + 12900*6 + 1200*15 + 5700*11 = 91800+138600+77400+18000+62700 = 388500 EUR
.
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