[ORDER SOLUTION] capital investments

Describe the elements involved in capital investment calculations. Can you think of any additional elements beyond the numeric ones described in the chapter that should be considered? Submission Instructions: Any written explanations should use complete sentences, and appropriate grammar, punctuation, spelling and word usage.

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[ORDER SOLUTION] Corrine Company

Corrine Company owns a warehouse that it no longer needs in its own operations. The warehouse was built, at a cost of $270,000, 10 years ago, at which time its estimated useful life was 15 years. There are two proposals for the use of the warehouse: 1. Rent it at $72,000 per year, which includes estimated costs of $27,000 per year for maintenance, heat, and utilities to be paid by the lessor. 2. Sell it outright to a prospective buyer who has offered $225,000. Any capital gain would be taxed at the 30 percent rate. Required: a. Calculate the after-tax income if (1) Corrine Company keeps the warehouse and (2) if Corrine Company sells the warehouse. b. Which proposal should the company accept? Why

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[ORDER SOLUTION] Rock Creek Gold Club

Rock Creek Golf Club (RCGC) was a public golf course, owned by a private corporation. In January the club’s manager, Lee Jeffries, was faced with a decision involving replacement of the club’s ?eet of 40 batterypowered golf carts. The old carts had been purchased ?ve years ago, and had to be replaced. They were fully depreciated; RCGC had been offered $200 cash for each of them. Jeffries had been approached by two salespersons, each of whom could supply RCGC with 40 new gasoline-powered carts. The ?rst salesperson, called here simply A, would sell RCGC the carts for $2,240 each. Their expected salvage value at the end of ?ve years was $240 each. Salesperson B proposed to lease the same model carts to RCGC for $500 per cart per year, payable at the end of the year for ?ve years. At the end of ?ve years, the carts would have to be returned to B’s company. The lease could be canceled at the end of any year, provided 90 days’notice was given. In either case, out-of-pocket operating costs were expected to be $420 per cart per year, and annual revenue from renting the carts to golfers was expected to be $84,000 for the ?eet. Although untrained in accounting, Jeffries calculated the number of years until the carts would “pay for themselves” if purchased outright, and found this to be less than two years, even ignoring the salvage value. Jeffries also noted that if the carts were leased, the ?ve-year lease payments would total $2,500 per cart, which was more than the $2,240 purchase price; and if the carts were leased, RCGC would not receive the salvage proceeds at the end of ?ve years. Therefore, it seemed clear to Jeffries that the carts should be purchased rather than leased. When Jeffries proposed this purchase at the next boardofdirectorsmeeting,oneofthedirectorsobjected to the simplicity of Jeffries’ analysis. The director had said, “Even ignoring in?ation, spending $2,240 now may not be a better deal than spending ?ve chunks of $500 over the next ?ve years. If we buy the carts, we’ll probably have to borrow the funds at 8 percent interest cost. Of course, our effective interest cost is less than this, since for every dollar of interest expense we report to the IRS we save 34 cents in taxes. But the lease paymentswouldalsobetaxdeductible,soit’sstillnotclear tomewhichisthebetteralternative.There’sasharpnew person in my company’s accounting department; let’s not make a decision until I can ask her to do some furtheranalysisforus.” 1. Assume that in order to purchase the carts, RCGC would have to borrow $89,600 at 8 percent interest for ?ve years, repayable in ?ve equal year-end installments. Prepare an amortization schedule for this loan, showing how much of each year’s payment is for interest and how much is applied to repay principal. (Round the amounts for each year to the nearest dollar.) 2. Assume that salesperson B’s company also would be willing to sell the carts outright at $2,240 per cart. Given the proposed lease terms, and assuming the lease is outstanding for ?ve years, what interest rate is implicit in the lease? (Ignore tax impacts to the leasing company when calculating this implicit rate.) Why is this implicit rate different from the 8 percentthatRCGCmayhavetopaytoborrowthe funds needed to purchase the carts? 3. Should RCGC buy the carts from A, or lease them from B? (Assume that if the carts are purchased, RCGC will use accelerated depreciation for income taxpurposes,basedonanestimatedlifeof?veyears andanestimatedresidualvalueof$240percart.The accelerated depreciation percentages for years 1–5, respectively, are 35 percent, 26 percent, 15.6 percent, 11.7 percent, and 11.7 percent.) 4. Assume arbitrarily that purchasing the carts has an NPV that is $4,000 higher than the NPV of leasing them. (This is an arbitrary difference for purposes of this question and is not to be used as a “check ?gure” for your earlier calculations.) How much would B have to reduce the proposed annual lease payment to make leasing as attractive as purchasing the cart?

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[ORDER SOLUTION] Accounting Information Systems

Describe how data flow models assist a business in understanding their accounting information systems and the development of those systems?

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[Get Solution] Employer’s Quarterly Federal Tax Return

Chapter 8 examines the paying of the payroll, depositing of the payroll taxes, and the filing of the required forms. To comply with city, state and federal laws, employers must determine the taxes to be paid to each entity and report the taxes on the proper tax forms at the appropriate time. Depending on the tax report and the amount of withholdings, tax reporting and depositing may be completed monthly, quarterly or yearly. Read Chapter 8 of the textbook by Slater. Download the Employer’s Quarterly Federal Tax Return 941 Form

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[Get Solution] Cookie Creations II Spreadsheet

This Assignment is Past Due and Must be Completed by Due Date and Time Posted on Order!! Unit II Case Study • Weight: 12% of course grade • Grading Rubric • Due: Tuesday, 12/15/2020 11:59 PM (CST)  Instructions Cookie Creations (Chapter 2) This assignment is a continuation of the Cookie Creations case study, which began in Chapter 1. From the information gathered in the previous chapter, read the continuation of the Cookie Creations case study in Chapter 2 of the textbook on p. 2-42. The case study allows you to apply what you have learned about accounting and the recording process. This assignment will enable you to practice what you have learned so far. After researching the different forms of business organization, Natalie decides to operate Cookie Creations as a proprietorship. She then starts the process of getting the business running. In November 2019, the following activities listed below take place. Nov. 8: Natalie cashes her U.S. Savings Bonds and receives $520, which she deposits in her personal bank account. Nov. 8: She opens a bank account under the name “Cookie Creations” and transfers $500 from her personal account to the new account. Nov. 11: Natalie pays $65 for advertising. Nov. 13: She buys baking supplies, such as flour, sugar, butter, and chocolate chips, for $125 cash. (Hint: Use the Supplies account.) Nov. 14: Natalie starts to gather some baking equipment to take with her when teaching the cookie classes. She has an excellent top-of-the-line food processor and mixer that originally cost her $750. Natalie decides to start using it only in her new business. She estimates that the equipment is currently worth $300. She invests the equipment in the business. Nov. 16: Natalie realizes that her initial cash investment is not enough. Her grandmother lends her $2,000 cash, for which Natalie signs a note payable in the name of the business. Natalie deposits the money in the business bank account. (Hint: The note does not have to be repaid for 24 months. As a result, the note payable should be reported in the accounts as the last liability and on the balance sheet as the last liability.) Nov. 17: She buys more baking equipment for $900 cash. Nov. 20: She teaches her first class and collects $125 cash. Nov. 25: Natalie books a second class for December 4 for $150. She receives $30 cash in advance as a down payment. Nov. 30: Natalie pays $1,320 for a 1-year insurance policy that will expire on December 1, 2020. Answer the questions below using an Excel spreadsheet. You should create a new tab on your spreadsheet for each calculation used for a total of three tabs on your spreadsheet. a. Prepare journal entries to record the November transactions. b. Post the journal entries to general ledger accounts. c. Prepare a trial balance at November 30. Please show your work, and do not take any shortcuts. Make sure to complete item “a” completely before moving to item “b,” and then move to item “c.” You cannot jump ahead unless you have completed each step sequentially in full. Submit the Excel document in Blackboard upon completion. Unit II Case Study Grading Rubric Criteria Achievement Level Level 1 Level 2 Level 3 Level 4 Level 5 Analysis (40 points) 0 – 23 Presents an account containing little analysis or relevant argument; interpretation is not well supported. Course concepts and analytical tools are not applied appropriately. 24 – 27 Presents an account that is descriptive but contains little analysis or relevant arguments; interpretation is not well supported. Course concepts and analytical tools are not applied appropriately. 28 – 31 Presents an analysis containing relevant arguments; interpretation is not thoroughly supported and not compelling. Course concepts and analytical tools are sometimes applied appropriately. 32 – 35 Presents a thorough analysis with effective arguments; interpretation is both reasonable and compelling. Course concepts and analytical tools are often applied appropriately. 36 – 40 Presents an insightful and thorough analysis with strong arguments and evidence; interpretation is both reasonable and compelling. Course concepts and analytical tools are expertly applied. Content (35 points) 0 – 20 Content is often irrelevant; information may be noticeably incorrect and/or off-topic. 21 – 24 Content is somewhat relevant and informative; may stray off topic a few times. 25 – 27 Content is mostly relevant and informative; may stray off topic one or two times. 28 – 31 Content is relevant and informative; may stray slightly off topic one time. 32 – 35 Content is highly relevant and informative; remains on topic. Accuracy (15 points) 0 – 8 Most of the assignment is clearly inaccurate and lacks attention to detail. 9 – 10 Several areas of the assignment may be slightly lacking in accuracy and/or attention to detail. 11 – 11 Most of the assignment is fairly accurate and shows fair attention to detail. 12 – 13 Most of the assignment is accurate and shows good attention to detail. 14 – 15 Accuracy is excellent and close attention to detail is clearly evident in all parts of the assignment. Writing Mechanics (10 points) 0 – 5 Writing lacks clarity and conciseness. Serious problems with sentence structure and grammar. Numerous major and/or minor errors in punctuation and spelling. 6 – 6 Writing lacks clarity and/or conciseness. Contains minor problems with sentence structure and some grammatical errors as well as several minor errors in punctuation and spelling. 7 – 7 Writing is mostly clear and concise. Sentence structure and grammar are strong and mostly correct. There may be 3 or 4 minor errors in punctuation and/or spelling. 8 – 8 Writing is clear and concise. Sentence structure and grammar are strong. There may be 1-2 minor punctuation errors and/or spelling errors. 9 – 10 Writing is clear and concise. Sentence structure and grammar are excellent. Correct use of punctuation. No spelling errors.

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[Get Solution] Ethics in Accounting

Click the link above to submit your assignment. Assignment: Ethics in Accounting Due Week 9 and worth 170 points Effective financial reporting depends on sound ethical behavior. Financial scandals in accounting and the businesses world have resulted in legislation to ensure adequate disclosures and honesty and integrity in financial reporting. A sound economy is contingent on truthful and reliable financial reporting. Instructions: Read the following scenario. Answer the questions that follow. This will be a 2-3 page submission in a question and answer format (also in paragraph form). An introduction and conclusion is not required. Refer back to your textbook for guidance on how to think through the scenario. You have been recently hired as an assistant controller for XYZ Industries, a large, publically held manufacturing company. Your immediate supervisor is the controller who also reports directly to the VP of Finance. The controller has assigned you the task of preparing the year-end adjusting entries.  In the receivables area, you have prepared an aging accounts receivable and have applied historical percentages to the balances of each of the age categories.  The analysis indicates that an appropriate estimated balance for the allowance for uncollectible accounts is $180,000.  The existing balance in the allowance account prior to any adjusting entry is a $20,000 credit balance. After showing your analysis to the controller, he tells you to change the aging category of a large account from over 120 days to current status and to prepare a new invoice to the customer with a revised date that agrees with the new category.  This will change the required allowance for uncollectible accounts from $180,000 to $135,000. Tactfully, you ask the controller for an explanation for the change and he tells you “We need the extra income, the bottom line is too low.” Required: In a 2-3 page paper, discuss the following: Consider what you have learned relative to ethics and financial reporting. What is the rationale for the calculations/process used to estimate the $180,000 uncollectible allowance? How do you think the misstatement of funds will impact the income statement and balance sheet? What is the ethical dilemma you face? What are the ethical considerations? Consider your options and responsibilities as assistant controller. Identify the key internal and external stakeholders. What are the negative impacts that can happen if you do not follow the instructions of your supervisor? What are the potential consequences if you do comply with your supervisor’s instructions? Who will be negatively impacted? Additional Requirements: Use at least one (1) quality academic resource (in addition to your textbook) for this assignment. Note: Wikipedia and similar websites do not qualify as academic resources. You have access to Strayer University’s Online Library at https://research.strayer.edu and the iCampus University Library Research page at https://icampus.strayer.edu/library/research. Your assignment must follow these formatting requirements: Your paper should be double spaced (Arial or Times Roman 12 pt font) and follow general Strayer Writing Standards (SWS) as they relate to references and citations. Please take a moment to review the SWS documentation for details (more information and an example is included in the Strayer Writing Standards menu link located in your Blackboard). Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.  Click here to view the grading rubric for this assignment.

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[Get Solution] Payroll Register Exercise

Payroll information is maintained in the employee payroll register. Preparing a payroll register will provide the data for journalizing the payroll in the general journal.  The Accounts Charged columns in the payroll register indicate which accounts will be debited to record the total wages and salaries expense when you are preparing a journal entry. Read Chapter 7 of the textbook by Slater Download and complete the WK5 Objective One Spreadsheet. (Links to an external site.) Do Exercise 7A-2

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[Get Solution] Financial Statement Analysis Project

Select a publicly traded company which restated its financial statements or committed fraud within the last 10 years.  Once you determine the date of the fraud (restatement) you want to concentrate your analysis on the two year period prior to this date.  If you are looking at a firm that restated their financial statements make sure you examine the original financial statements prior to the restatement. Compare the firm to the peer firm along three dimensions. Compute the following ratios for the firm to its peer: Profitability, Liquidity, Solvency, & Market Ratios. Please provide calculations in an excel spreadsheet.

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[Get Solution] Accounting Checkpoint Assignment

You’re an analyst in the finance department of Flyover Corp., a new firm in a profitable but risky high-tech business.  Several growth opportunities have presented themselves recently, but the company doesn’t have enough capital to undertake them. Stock prices are down, so it doesn’t make sense to try to raise new capital through the sale of equity. The company’s bank won’t lend it any more money than it already has, and investment bankers have said that debentures are out of the question. The treasurer has asked you to do some research and suggest a few ways in which bonds might be made attractive enough to allow Flyover to borrow. Write a thorough, concise and analytical document reflecting what you have learned during the term from the various chapters especially from the knowledge gained about valuation and characteristics of Bonds.

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