In a brief Word document, describe a type of organization of interest to you in the education or training industry (K–12, higher education, corporate, or military training). Select 1 job description category that would exist in that organization (e.g., teacher, trainer, administrative assistant, etc.), and describe the job. Explain the rationale for the elements of compensation detailed in the spreadsheet. Include citations and references (APA format) related to your topic organization, position, or related to employee compensation types and methods.
Create a spreadsheet with appropriate formulas by researching market compensation data for the position you have described. Create compensation budget entries for the position and place the data in your Excel chart. Where financial information lacks, use principles in your course materials to derive and justify your compensation data. Include the following information where applicable:
- Salary range for that position (direct pay or base pay)
- Incentive pay or extra duty pay
- Regular benefits provided for that position and the overall cost of benefits
- Account for any planned increases in any category over the next 12 months (for example, a 3% raise at some point during the year)
Upload your Excel spreadsheet and the separate Word document to the Submit Assignments area.
Extravagant Inc. is installing a new plant at its production facility. It has incurred these costs:
| 1. Cost of the plant (cost per supplier’s invoice plus taxes) | $2,500,000 |
| 2. Initial delivery and handling costs | $200,000 |
| 3. Cost of site preparation | $600,000 |
| 4. Consultants used for advice on the acquisition of the plant | $700,000 |
| 5. Interest charges paid to supplier of plant for deferred credit | $200,000 |
| 6. Estimated dismantling costs to be incurred after 7 years | $300,000 |
| 7. Operating losses before commercial production | $400,000 |
Required
Please advise Extravagant Inc. on the costs that can be capitalized in accordance with IAS 16.
. The balance sheet of Ms. Prompt Truck Rental on December 31st is as follows:
After December 31st, M/s Prompt Truck Rental had the following transactions for a short period:
a. Bought office equipment at a cost of $2,700. Paid in cash.
b. Collected $4,000 of accounts receivable.
c. Paid $3,200 of accounts payable.
d. Borrowed $10,000 from a bank. Signed a note payable for that amount.
e. Purchased two trucks for $30,500. Paid $15,000 cash and signed a note payable for the balance.
f. Sold additional stock to investors for $75,000.
Instructions:
1. List the December 31st balances of assets, liabilities and owner’s equity in tabular form as shown above.
2. Record the effects of each of the six transactions in the preceding tabular order.
3. Show the total for all columns after each transaction.
Elliot Rhodes has a love of electronics and all things technical. On 1 July 2019, he starts his own business, Nano Logic, as a retailer of laptops, tablets and smartphones. He believes that his expert knowledge and ability to translate technical concepts into everyday terms for his customers will provide him with a competitive advantage against larger retailers, who focus more heavily on price than on providing individualised service.
You used to work with Elliot, before he decided to become an entrepreneur and you decided to go to university. In early August, you decide to meet up over coffee to discuss your new career paths. Elliot talks about his new business and how he is worried about the large amount of cash he has spent during his first month of trading. You tell him about how you are studying an accounting topic now and launch into an explanation on the difference between the cash and accrual basis.
Elliot is impressed and asks you to help him by preparing accrual-based accounting information for his business, so he can better understand the financial position of his business and its performance. He supplies you with a list of transactions and events relating to his first month of trading, July 2019, and some additional information about the business.
Additional Information
- The staff has worked overtime in the last week of the month. It is estimated that they owe $2,400 in wages for the work performed last week, but are not due to receive their pay until 7th August.
- Elliot’s estimated electricity usage for July is $2,000.
- His phone and internet usage for July is estimated at $920, but he has not yet received the bill.
- He allows that 5% of his closing Accounts Receivable balance may not be collectible.
He rounds up the amount to the nearest whole number.
Elliot uses straight-line depreciation for all his assets. Elliot uses a perpetual inventory system with a FIFO (first in, first out) inventory costing method.
REQUIREMENTS for Part 1 (100 marks total):
a) Record the transactions listed for July 2019. 64 marks
b) Record any end-of-month adjustments required or July 2019, arising from both the additional information provided and the transactions you have recorded. 36 marks
Company Name: Abcde Pty Ltd
The company began operations as a retailer on 1 July 2017. It buys and sells one inventory item,
derrings, from a leased warehouse in the outer suburbs of Melbourne.
The company is registered for GST which it pays quarterly. Assume GST was last paid on 30 June.
It uses the Weighted Average cost allocation method and the perpetual inventory recording
method.
The company uses the straight-line depreciation method for office furniture and computers and
the reducing balance method for motor vehicles.
The company employs two people who are rostered over a seven-day working week. The
employees are paid fortnightly up to and including the day of payment. There is no penalty
wages.
The company has one debtor (Debtor1) and one creditor (Creditor1). Terms for all credit sales and
purchases are 30 days
Relevant information
1. The company has the following opening balances at the 1 July in the current financial
year:
Cash at Bank: $21,832.00
Accounts receivable: $4,928.00
Allowance for doubtful debt: $464.00
Inventory: $11,720.00
Motor vehicle: $22,088.00
Accumulated depreciation motor vehicle: $2,954.00
Accounts payable: $5,305.00
Bank loan owing (due in 20 months): $12,100.00
Office furniture: $13,322.00
Accumulated depreciation office furniture: $1,218.00
Office supplies: $400.00
Share capital: $35,799.00
Retained earnings: balance amount $16,450.00
Bethrown International has operations In Arrakis. The balance sheet for this drown in Aramean scram shows assets of 22.000 starts, debt in the amount of 7,000 Solaris, and equity of 15.000 soars
a. If the current exchange ratio is 132 solans per dollar what does me balance that look like in dollars’ 4Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 3216.)
The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company’s financial condition and performance.
Blue Hamster Manufacturing Inc. rt a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet.
Question 1
Maria acquired Central Delivery Services in 2018 providing a courier service for non-refrigerated goods within the City of Melbourne.
Due to (Covid-19) the business has expanded rapidly and needs to obtain finance for an additional delivery van to expand the business. Maria’s accountant is ill and cannot assist for another month. As Maria has no experience in accounting she watched “how to prepare financial statements” YouTube videos and then prepared the financial statements below:
a)-Describe the purpose of each of the financial statements above (100 words).
b)-List any errors Maria has made in these financial statements and then briefly explain to Maria the
correct treatment (300 words).
Question 2
The following shows the Consolidated Statement of Cash Flows for Harvey Norman from their 30 June 2019 Annual Report p.65 (https://www.annualreports.com/HostedData/AnnualReports/PDF/ASX_HVN_2019.pdf)
Review each section of the Statement of Cash flows below and the overall cash position of the company to justify why (or why you would not) consider investing in this company (150 words).
In a two- to three-page paper (not including the title and reference pages), explain the purpose of a balance sheet and analyze Ford Motor Company’s balance sheet from its 2012 Annual Report (Links to an external site.). In your analysis, you must determine the financial ratios and compare them to industry standards.
Your paper must be formatted according to APA style as outlined in the Ashford Writing Center, and it must include citations and references from the text and at least two scholarly sources from the Ashford University Library. Please include an introduction paragraph with a thesis, and a conclusion paragraph that reaffirms your thesis.
Carefully review the Grading Rubric (Links to an external site.) for the criteria that will be used to evaluate your assignment.
In a two- to three-page paper (not including the title and reference pages), explain the purpose of a balance sheet and analyze Ford Motor Company’s balance sheet from its 2012 Annual Report (Links to an external site.). In your analysis, you must determine the financial ratios and compare them to industry standards.
Your paper must be formatted according to APA style as outlined in the Ashford Writing Center, and it must include citations and references from the text and at least two scholarly sources from the Ashford University Library. Please include an introduction paragraph with a thesis, and a conclusion paragraph that reaffirms your thesis.
Carefully review the Grading Rubric (Links to an external site.) for the criteria that will be used to evaluate your assignment.