International Accounting and Finance month by month cash budget, P&L, and a balance sheet

Need a month by month cash budget, P&L, and a balance sheet based on the attached information.

Document Preview:

TMA: International Accounting and Finance GT Ltd organises holidays abroad for clients. The company charters planes and books hotels. The charter arrangements are such that the air operators include all local transport costs, airport charges and so on in the charter price. The contracts with the hoteliers require them to deal with all local arrangements, including transfers from airports to hotels and local activities where these are a feature of particular holidays. All holidays are booked by clients and paid through local travel agents. By having to deal only with airlines, hotels and travel agents, GT is able to be administratively streamlined and, its management believes, efficient and price competitive. GT’s holidays are of two types: summer beach holidays and winter sports holidays. The company charges a flat rate for all holidays, distinguishing only between the beach holidays and the winter sports ones. An unusual feature of GT’s holidays is the fact that full payment must be made with booking. Although this is unusual, GT is able to sustain this policy by being very price competitive. The management believes that any possible loss of custom through following this policy is outweighed by the knowledge that bookings, once made, are certain from the company’s point of view. Further information about the company and forecasts for next year are as follows: (i) Travel agents deduct a 10 per cent commission from the full price of each holiday before remitting the other 90 per cent to the company at the time of booking. (ii) Winter sports holidays have a cost to the customer of £350 each and beach holidays cost £300 each. (iii) Flights and hotel accommodation are booked by GT as soon as the booking is received from a customer. Airline charges for both types of holiday are £100 per passenger. Hotel charges are £125 for beach holidays and £150 for winter sports holidays. Both airline and hotel charges must be paid in the month in which the holiday was originally due

Attachments:

Accounting-an.pdf

THIS PAPER HAS BEEN COMPLETED BY OUR WRITERS

Order your custom paper
Posted in Uncategorized

Use the labour demand data on the left and the labour supply data on the right in answering the

Use the labor demand data on the left and the labor supply data on the right in answering the followingfour questions:Total Product WageEmployment product price Employment rate0 0 $3 0 $111 14 3 1 112 26 3 2 113 35 3 3 114 42 3 4 115 46 3 5 116 48 3 6 11_____1. On the basis of the given information:a. the firm’s labor supply curve is up sloping.b. we cannot say whether the firm’s product market is purely or imperfectly competitive.c. we can say that the firm is selling its products in a purely competitive market.d. we can say that that firm is selling its product in an imperfectly competitive market.______2. The firm’s labor supply curve is:a. such that it does not intersect the labor demand curve.b. up sloping.c. perfectly inelastic.d. perfectly elastic._____3. The firm is hiring labor:a. at a wage rate, which exceeds labor’s VMP(or MRP).b. under purely competitive conditions.c. in an imperfectly competitive market.d. as monopolist.-2-______4. The firm will maximize profits (or minimize losses) by:a. closing down in the short run.b. hiring five workers.c. hiring four workers.d. hiring 3 workers.e. hiring 2 workers.Using the resource demand data shown on the left and the resource supply data on the right in answering the following six questions.Total Product WageEmployment product price Employment rate0 0 $2.20 0 —-1 15 2.00 1 $2.002 28 1.80 2 2.503 39 1.60 3 3.004 48 1.40 4 3.505 55 1.20 5 4.006 60 1.00 6 4.50_____5. How many workers will this firm choose to employ?a. 6 b. 5 c. 4 d. 3 e. 2_____6. How many units of output will the firm produce:a. 60 b. 55 c. 48 d. 39 e. 28_____7. What will be the equilibrium wage rate?a. $6 b. $5 c. $4 d. $3 e. $2_____8. What will be the product’s selling price?a. $1.40 b. $1.60 c. $1.80 d. $2.00 e. $2.20_____9. It can be concluded that:a. both the product and resource(factor) markets are imperfectly competitive.b. the resource market is imperfectly competitive but the product market is purelycompetitive.c. both the resource and product markets are purely competitive.d. the resource market is purely competitive but the product market is imperfectlycompetitive._____10. Now suppose severe inflationary pressures prompt the government to impose a wageceiling of $2 on this particular type of labor. Other things being unchanged, how many workers will the firm now choose to employ?a. 6 b. 5 c. 4 d. 3 e. 2-3-_____11. œNonprice competition refers to:a. low barriers to entry.b. product development, advertising, and product packaging.c. the differences in information which consumers have regarding various products.d. an industry or firm in long-run equilibrium._____12. Monopolistically competitive and perfectly competitive industries are similar in that:a. both are assured of short-run economic profits.b. both produce differentiated products.c. the demand curves facing individual firms are perfectly elastic in both industries.d. there are few, if any, barriers to entry._____13. The œkinked-demand curve œof an oligopolistic firm is based on the assumption that:a. competitors will match a price cut but ignore a price increase.b. competitors will match both price cuts and price increases.c. competitors will ignore a price cut but follow a price increase.d. there is no product differentiation._____14. A Monopolistic employer( or Monopsonist):a. has a perfectly elastic labor supply curve.b. is necessarily a monopolist in the product market.c. faces a marginal resource (labor) cost which is greater than the wage rate.d. faces a marginal resource (labor) cost which is less than the wage rate._____15. A monopolistic employer in an unorganized (nonunion) labor market will:a. pay a wage rate less than labor’s VMP(or MRP).b. pay the same wage rate but hire fewer workers than if the market was purelycompetitive.c. hire the number of workers indicated by the intersection of the MRC and the laborsupply curves.d. pay a wage rate in excess of labor’s VMP(or MRP).-4-True-False(Mark œA for True and œB for False)._____16. The value of marginal product(VMP) curve of a purely competitive seller declines solelybecause of the law of diminishing returns ._____17. In order to maximize profits, a firm should hire additional units of any resource up to the point where its VMP(or MRP) is equal to its MRC(marginal resource cost)_____18. The demand for a resource depends on its productivity and the market value of the productit is producing._____19. Marginal resource (labor) cost will exceed the wage rate when there is imperfectcompetition in the labor market._____20. The rising general level of real wages in the United States has occurred because thegrowing population has increased the supply of labor relative to the demand for it.

Attachments:

Economics-201.doc

THIS PAPER HAS BEEN COMPLETED BY OUR WRITERS

Order your custom paper
Posted in Uncategorized

For the two-month period March 1,:009, to April 30, 200a prepare (a) journal entries.

I. For the two-month period March 1,:009, to April 30, 200a prepare(a) journal entries.(b) an income statement,(c) a balance sheet, andd) a statement of cash flows.2. Evaluate the.company’s performance. 3. Is the large decline in cash a concern?4. How would the three financial statements change if Verona Springs bought 5,100 boxes for $5,100 ($1.00 per box) and if 2,000 boxes remained inventory5? How would the three financial statements change if, in addition to paying a total of $5,100 for boxes, Verona Springs also spent a total of $4,800 for bottles and lids (a total of $9,900 for boxes, bottles, and lids, instead of $6,300), $2,500 instead of $1,500 for labor, $1,600 instead of $900 for shipping, and then shipped a total of 5,000 cases at $5.00 per case (1,000 cases for cash; 4,000 cases on credit)? Also assume negligible quantities of boxes, bottles, lids, and supplies in inventory. 6. Identify costs that may not have been included in the case.

Attachments:

MBA503-Case-2.pdf

THIS PAPER HAS BEEN COMPLETED BY OUR WRITERS

Order your custom paper
Posted in Uncategorized

Prepare simplified proforma financial statements as of March 31,2011 for each proposal under the

Case Background Exhibit I contains the background information relating to a typical capital asset decision,i.e.,the replacement of a fixed asset and the financing thereof. In this case the subject fixed asset is a corporate jet and the financing alternatives include a vendor financing proposal, a bank financing proposal,and a lease financing proposal.Exhibit ? contains a summary description of each replacement proposal. Blackstone,Inc.,(“Blackstone”) is a non-assurance client of your firm. Blackstone’s management has requested your firm provide simplified proforma financial statements as of March 31,2011 for each proposal under the following two scenarios:(x) the corporate jet replacement occurs on March 31,2011, the last day of the Blackstone’s fiscal year;and(y)corporate jet replacement occurs on April 30,2011, or 30 days after the end of its current fiscal year end and 30 days before its reporting date.For this assignment,simplified proforma statements should depict the stand-alone financial statement impact of each financing proposal oon the balance sheet,income statement,and statement of cash flows(including any related disclosures). Blackstone has limited the scope of its request to the effects on its primary financial statements without the related effects on its footnotes. Question: Prepare simplified proforma financial statements as of March 31,2011 for each proposal under the following two scenarios:(x)corporate jet replacement occurs on March 31,2011;and(y)corporate jet replacement occurs on April 30,2011. Blackstone, Inc. Simplified Proforma Balance Sheet January 31,2011 Assets Liabilities&Stockholders’ Equity Noncurrent assets Noncurrent liabilities fixed assets-net ######### deferred income taxes 40,00,000 Stockholders’ equity Retained earnings 60,00,000 Total ######### Total 1,00,00,000 Corporate Jet Replacement Background On February 14,2011, the Board of Directors of Blackstone Inc.(“Blaskstone”) authorized the disposition of its existing corporate jet and the acquisition of a new state of the art corporate jet. The board has directed management to implementing the asset replacement decision by March 31,2011, the end of its fiscal year. The existing corporate jet has an appraised fair market value of $8 million and a new corporate jet has a fair market value of $45million(its normal,all cash selling price). A summary of the book and tax basis of the existing corporate jet follows: Book basis Tax Basis Original cost 5,00,00,000 5,00,00,000 Accumulated depreciation ######### ########## Net cost 1,00,00,000 0 Deferred income taxes 40,00,000 N/A For book purposes,Blackstone depreciates its corporate jets on a straight-line basis over 10years down to 20 percent salvage value. The existing corporate jet has an estimated remaining economic life of 5 years, and the new replacement corporate jet has an estimated economic useful life of 15 years. For income tax purposes, corporate jet qualify as 5-years MACRS property. In accordance with recently passed tax legislation,Blackstone plans to write off the entire acquisition price on the date the corporate jet is placed in service. Blackstone has a composite,incremental income tax rate of 40 percent. Blackstone’s management has obtained three replacement proposals: (1) a vendor financing proposal; (2) a bank financing proposal; and(3) a lease financing proposal. These three proposal are summarized at Exhibit II Blackstone would continue to use the existing jet until the exchange or sale date. It uses a corporate jet instead of commercial airlines to fly its board members and key executives for efficiency purposes.

Attachments:

Book1.xls

THIS PAPER HAS BEEN COMPLETED BY OUR WRITERS

Order your custom paper
Posted in Uncategorized

managerial prerogative has gone too far!

topic: Managerial prerogative has gone too far! Discuss. AIMS: The aim of this assessment task is to get you to think critically and analytically about the proposition œmanagerial prerogative has gone too far! By the end of this task, students should be able to: – Identify key sides to the debate, by examining trends in Australian employment Relations. – Identify evidence to show how this proposition may be supported or refuted. – In relation to the above, develop academic research skills. – Develop a critical, coherent and persuasive argument/stance on proposition INSTRUCTIONS Length: – 1000 words (+/- 100 words or 10%) – Use APA referencing(at least 8 references ) the essay should include introduction, Definition, arguement ,conclusion and reference list. Should use in text references from books or journal articles. the marking criteria is provided in attach file.

Document Preview:

Marking Criteria
Student: Tutorial: Tutor’s name:
CATEGORY  Above Standard  Meets Standards  Approaching Standards Below Standards Introduction (4 marks in total) Clearly introduces the topic, states the key argument/stance and provides the reader with a brief outline of what the essay will cover. Introduces topic and presents key argument/stance/ Introduces topic but it is not clear what the key argument/stance is No introduction. Argument/Stance (5 in total) The argument/stance provides a clear, strong statement of the author’s position on the topic. The argument/stance provides a clear statement of the author’s position on the topic. An attempt has been made to present an argument/stance, but does not make the author’s position clear. There is no position statement. Support for Argument/Stance (12 marks in total) Provides strong evidence from a variety of resources including, a minimum of 8 academic sources, that supports the argument. The writer anticipates the reader’s concerns, biases or arguments and has provided counter-arguments.
All of the evidence and examples are specific, relevant and explanations are given that show how each piece of evidence supports the author’s position.
Arguments and support are provided in a logical order that makes it easy and interesting to follow the author’s train of thought.
Provides strong evidence from a variety of resources including, a minimum of 8 academic sources, that support the position statement.
Most of the evidence and examples are specific, relevant and explanations are given that show how each piece of evidence supports the author’s position.
Almost all supportive facts and statistics are reported accurately.
Arguments and support are provided in a fairly logical order that makes it reasonably easy to follow the author’s train of thought. Includes some evidence that support the position statement. Does not present a minimum of 8 academic sources.
At least one of the pieces of evidence

Attachments:

marking.doc

THIS PAPER HAS BEEN COMPLETED BY OUR WRITERS

Order your custom paper
Posted in Uncategorized

What steps could the business take in an attempt to improve profitability?

a) Prepare a statement, with explanations, showing the greatest profits available from the limitedamount of skilled labor available, within the constraint stated. Hint: remember that all labor ispaid at the same rate.b) What steps could the business take in an attempt to improve profitability, in the light of the labor shortage?

Document Preview:

_____________________ _______________________________ ___________________________ _______________________________ _________

Attachments:

Statements.pdf

THIS PAPER HAS BEEN COMPLETED BY OUR WRITERS

Order your custom paper
Posted in Uncategorized

Verona S Springs Mineral. Water ..

Verona S Springs Mineral. Wate In February 2009, Mr. Alan Pickering contracted to purchase a mineral spring in the Misseuni Ozarks. The property, Known locally as Verona Springs, included a6 million galloa-per-cday spring that produced exceptionally pure water, Mr. Pickering planned to bottle the water and sell it in the nearby cities of Springfield, Columbia, St. Louis, and Kansas City. On March 1, 2009, Mr. Pickering ard several relatives purchased 500,000 shares in the company for $L per shave. On that same day, the corporation. borrowed $300,000 from the local bank. ˜fhe bank note required Bve annual $60,000 principal repayments beginning- March +1, 2010. Interest payments of 6% of the outstanding balance on the previous March | were required on March | of each year, also beginning March 1, 2010. The firm then wrate a check for $525,000 to buy the 65 acres of land that included Verona Springs. The water was nearly lree-of pollutants, but it arose into a small ] pond before How. ing to a nearby stream. In the pond, the water was exposed to falling leaves and other contaminants. To maintain purity, Mr. Pickering hired.a local firm to. drill a flowing attésian well near the spring (in a flowing artesian well, pressure from an underground aquifer forces water.to flow naturally to the surface). The company paid $1,000, cash for the drilling on March 10, 2009. Mr. Pickering expected the well to last | at least 10 years before redrilling would be needed, During March, Verona Springs had a building constructed above and around the well. Inside the building; the firriy installed filtration. purification, and -bottling, equipmént and a bolding tank. The company paid the $240,000-cost by cheek on March 31, 2009, when the equipment became operational: The firm expected the building and equipment toJast 10 years. On April 5, the fem purchased a truckload of 18,.200-anegallon plastic water Bottles and dids for $3,200, and 3,100 shipping boxes for 43,100 (61.00 per box). The $6,300 for those purchases was payable in 30 days. During April, the-tirm also parchased miscellaneous supplies for $500 and paid in cash. The firm began battling water by hiring three local residents to work part-time. During April, they botded and shipped 18;000 gallons of mineral water (3,000 cases that each contained.six t-gailon bottles). Verona sold the 3,000 cases to regional supermarkets for $5.00 per case. One chain paid for.1,000 eases by check upon receipt: the others purchased on account, payable in 30 days. In late April, the firm paid the three employees a total of $1,500 in. cash for-their work and also paid a trucking firm $900 in cash to deliver the water. On Aprif 30, the firm had negligible quantities of bottles, ties, boxes, and supplies in inventory, Required! 1. For the two-month period March 1, 2009, to April 30, 2009. prepare (2) journal entries, (b} an income statenient, (3 a balance sheet, and (1) a statement of cash flows. 2. Evaluate the company’s performance. 3. Is the large decline in cash a concern? SECTION ONE INTRODUCTORY CASES , 4, 5. 6. How would the three financial statements change if Verona Springs bought 5,100 boxes for $5,100 ($1.00 per box) and if 2,000 boxes remained in inventory? Hew would the three financial statements change if, in addition to paying a total of $5,100 for boxes, Verona Springs also spent a total of $4,800 for bottles and lids (a total of $9,900 for boxes, bottles, and lids, instead of $6,300), $2,500 instead of $1,500 for labor, $1,600 instead of $900 for shipping, and then shipped a total of 5,000 cases at $5.00 per case (1,000 cases for cash; 4,000 cases on credit)? Also assume negligible quantities of boxes, bottles, lids, and supplies in inventory. Identify costs that may not have been included in the case.

Attachments:

MBA503-Case-2.pdf

THIS PAPER HAS BEEN COMPLETED BY OUR WRITERS

Order your custom paper
Posted in Uncategorized

acct

Hicksville’s Department Store uses a perpetual inventory system. At year-end, the balance in the Inventory controlling account is $1,200,000. Assuming that the inventory records have been maintained properly, a year-end physical inventory: A. Is unnecessary. B. Is needed to establish the ending inventory, as the $1,200,000 balance in the Inventory controlling account represents the beginning inventory. C. Probably will indicate more than $1,200,000 in merchandise on hand. D. Probably will indicate less than $1,200,000 in merchandise on hand

THIS PAPER HAS BEEN COMPLETED BY OUR WRITERS

Order your custom paper
Posted in Uncategorized

The annual report of ITV plc (or for any company) consists of narrative reports and

The annual report of ITV plc (or for any company) consists of narrative reports and financial statements. The first set of questions below requires understanding of narrative reports while the second set of questions require understanding of the financial statements. *All references are for ITV annual report 2009.

Document Preview:

Accounting Assignment
Length (number of words): 1,500 [You are allowed to be 10% over/under this limit]
Question(s)/Task(s): Answer all questions contained within this assignment.
The report consists of six questions.
Requirements:
? Use the format specified for this assignment on page 5.
? Your report must focus clearly on the tasks and questions set.
? Any supporting references should be formatted in the Harvard referencing style, where necessary.
? Paraphrase and or quote directly from your sources appropriately (cite at all times).
? Your assignment should be double-spaced and typed.
Questions
The annual report of ITV plc (or for any company) consists of narrative reports and financial statements. The first set of questions below requires understanding of narrative reports while the second set of questions require understanding of the financial statements.
*All references are for ITV annual report 2009.
Q1. Narrative reports and presentation
a) Why do you think the directors’ report for ITV is important?
b) How would you compare directors’ report with the œChairman’s statement (pp 2-3). What are the similarities and differences?
c) ITV’s business review (pp 8-43) includes operating, strategic, and financial reviews. Highlight three issues in ITV’s business review that you think would be useful for Mr Smith.
d) How would you compare ITV’s 2009 annual report with that of BSkyB’s 2010 annual report in terms of presentation? BSkyB annual report can be downloaded from
http://annualreview2010.sky.com/assets/pdf/Sky_Annual_Report_2010.pdfhttp://annualreview2010.sky.com/assets/pdf/Sky_Annual_Report_2010.pdf.
Q2. The audit report (you may also need to refer to other parts of the annual report in order to answer these questions)
a) Who are ITV’s external auditors? Will they continue to audit the company in the next year?
b) What type of audit opinion did ITV receive in 2009?
c) Provide a summary of what audit opinion received by ITV mean.
d) Why

Attachments:

Accounting-As.docx

THIS PAPER HAS BEEN COMPLETED BY OUR WRITERS

Order your custom paper
Posted in Uncategorized

how does the accounting concepts affect accointing policy?

how does the accounting concepts affect accointing policy?: TOM BROWN LTD TRADING, PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2007 £ £ Sales 614.000 less cost of goods sold Opening stock 65,000 63,000 Add purchases 465,000 Goods Available for sale 528,000 Less closing stock 86,000 cost of Goods sold 442,000 Gross profit 172000 Discount received 8140 180,140 less Expenses Building Repairs (8480+5000) 13,480 Depreciation – Motor Vehicle (12000*25%) 3,000 Dep: furniture & fittings (10*22500) 2,250 Motor expense 2,680 Wages & salaries (86060+4180) 90,240 Discount allowed 10,610 Rates & insurance ( 6070-400) 5,670 General Expenses 15,860 Provision f Bad debts ( 10%*52130/ 2,607 General expenses 24,000 Total expenses 170,397 Net Profit 9,743 Tom Brown’s LTD Balance Sheet as at 31st December 2007 £ £ £ FIXED ASSET At COST DEP NBV Motor Vehicle 12,000 5,400,00 6,600 Furniture and Fitting 25,000 4,750,00 20,250 Land and Buildings 100,000 – 100,000 Total: 137,000 10,150 126,850 CURRENT ASSETS Stock 86,000 Debtors 49,523 Prepayment 400 Total assets: 135,924 CURRENT LIABILITY Creditors 41,850 Accruals 4,180 Repairs and maintenance 5,000 Bank overdraft 2,000 NET CURRENT ASSET 82,893 209,743 FINANCED BY: Bank loan 75,000 Capital 125,000 Add net profit 9,743 53,030 75,000 209,743

Attachments:

P3.doc

THIS PAPER HAS BEEN COMPLETED BY OUR WRITERS

Order your custom paper
Posted in Uncategorized