Week Four Exercise Assignment,Liability, ,1. Payroll accounting. Assume that the following tax rates and payroll information pertain to Brookhaven Publishing: , Social Security taxes: 4% on the first $55,000 earned per employee, , Medicare taxes: 1.5% on the first $130,000 earned per employee, , Federal income taxes withheld from wages: $7,500 , , State income taxes: 4% of gross earnings , , Insurance withholdings: 1% of gross earnings , , State unemployment taxes: 5.4% on the first $7,000 earned per employee, , Federal unemployment taxes: 0.8% on the first $7,000 earned per employee, ,The company incurred a salary expense of $50,000 during February. All employees had earned less than $5,000 by month-end and no wages have been paid during the month. ,a. Prepare the necessary entry to record Brookhaven’s February payroll. The entry will include deductions for the following:, Social Security taxes, , Medicare taxes, , Federal income taxes withheld, , State income taxes, , Insurance withholdings, , , ,b. Prepare the journal entry to record Brookhaven’s payroll tax expense. The entry will include the following:, Matching Social Security taxes, , Matching Medicare taxes, , State unemployment taxes, , Federal unemployment taxes, , ,2. Current liabilities: entries and disclosure. A review of selected financial activities of Visconti’s during 20XX disclosed the following: , , , , , , , , , , , , , , , , , ,1-Dec: Borrowed $10,000 from the First City Bank by signing a 3-month, 15% note payable., , , , , , , ,Interest and principal are due at maturity., , , , , , , ,10-Dec: Established a warranty liability for the XY-80, a new product. Sales are expected to, , , , , , , ,total 1,000 units during the month. Past experience with similar products indicates, , , , , , , ,that 3% of the units will require repair, with warranty costs averaging $27 per unit (parts only)., , , , , , , ,22-Dec: Purchased $16,000 of merchandise on account from Oregon Company, terms 2/10, n/30., , , , , , , ,26-Dec: Borrowed $5,000 from First City Bank; signed a 15% note payable due in 60 days. (Assume 360 day year for interest), , , , , , , ,31-Dec: Repaired six XY-80s during the month at a total cost of $162, , , , , , , ,31-Dec: Accrued three days of salaries at a total cost of $1,400., , , ,Instructions ,a. Prepare journal entries to record the transactions. ,b. Prepare adjusting entries on December 31 to record accrued interest for each of the notes payable., , ,3. Notes payable. Red Bank Enterprises was involved in the following transactions during the fiscal year ending October 31:, ,2-Aug: Borrowed $55,000 from the Bank of Kingsville by signing a 90-day, 12% note., , , ,20-Aug: Issued a $50,000 note to Harris Motors for the purchase of a $50,000 delivery truck. The note is due in 180 days and carries a 12% interest r ate., , , ,10-Sep: Purchased merchandise from Pans Enterprises in the amount of $15,000. Issued, , , ,a 30-day, 12% note in settlement of the balance owed., , , ,11-Sep: Issued a $60,000 note to Datatex Equipment in settlement of an overdue account, , , ,payable of the same amount. The note is due in 30 days and carries a 14% interest rate., , , ,10-Oct: The note to Pans Enterprises was paid in full., , , ,11-Oct: The note to Datatex Equipment was paid in full., , , ,30-Oct: Paid note to Bank of Kingsville., , , ,Instructions ,a. Prepare journal entries to record the transactions. ,b. Prepare adjusting entries on December 31 to record accrued interest. (Daily interest is calculated utilizing the 360 day method).,c. Prepare the Current Liability section of Red Bank’s balance sheet as of December 31. Assume that the Accounts Payable account totals $203,600 on this date., ,
, ,Required:, , ,Prepare the statement of cash flows for Arduous Company using the indirect method. , , ,The comparative balance sheets for 2013 and 2012 and the income statement for 2013 are given below for Arduous Company. Additional information from Arduous’s accounting records is provided also., , ,ARDUOUS COMPANY,Comparative Balance Sheets,December 31, 2013 and 2012,($ in millions), , , ,2013, ,2012, , Assets, , , , , , , , , , Cash, ,$, , 116 , ,$, ,81 , , Accounts receivable, , , ,190 , , , ,194 , , Investment revenue receivable, , , ,6 , , , ,4 , , Inventory, , , ,205 , , , ,200 , , Prepaid insurance, , , ,4 , , , ,8 , , Long-term investment, , , ,156 , , , ,125 , , Land, , , ,196 , , , ,150 , , Buildings and equipment, , , ,412 , , , ,400 , , Less: Accumulated depreciation, , , ,(97) , , , ,(120) , , Patent, , , ,30 , , , ,32 , , , , , ,$, ,1,218 , ,$, ,1,074 , , , , Liabilities, , , , , , , , , , Accounts payable, ,$, ,50 , ,$, ,65 , , Salaries payable, , , ,6 , , , ,11 , , Bond interest payable, , , ,8 , , , ,4 , , Income tax payable, , , ,12 , , , ,14 , , Deferred income tax liability, , , ,11 , , , ,8 , , Notes payable, , , ,23 , , , ,0 , , Lease liability, , , ,82 , , , ,0 , , Bonds payable, , , ,215 , , , ,275 , , Less: Discount on bonds, , , ,(22) , , , ,(25) , , Shareholders’ Equity, , , , , , , , , , Common stock, , , ,430 , , , ,410 , , Paid-in capital—excess of par, , , ,95 , , , ,85 , , Preferred stock, , , ,75 , , , ,0 , , Retained earnings, , , ,242 , , , ,227 , , Less: Treasury stock, , , ,(9) , , , ,0 , , , , , ,$, ,1,218 , ,$, ,1,074 , , , ,ARDUOUS COMPANY,Income Statement,For Year Ended December 31, 2013,($ in millions), , Revenues, , , , , , , , , , , , , , Sales revenue, , , , , ,$, ,410 , , , , , , , Investment revenue, , , , , , , ,11 , , , , , , Gain on sale of treasury bills, , , , , , , ,2 , ,$, ,423 , , , , , , , , , , , , Expenses, , , , , , , , , , , , , , Cost of goods sold, , , , , , , ,180 , , , , , , Salaries expense, , , , , , , ,73 , , , , , , Depreciation expense, , , , , , , ,12 , , , , , , Patent amortization expense, , , , , , , ,2 , , , , , , Insurance expense, , , , , , , ,7 , , , , , , Bond interest expense, , , , , , , ,28 , , , , , , Extraordinary loss (flood), ,$, ,18 , , , , , , , , , , Less: Tax savings, , , ,(9) , , , ,9 , , , , , , , , , , , , , , , , Income tax expense, , , , , , , ,45 , , , ,356 , , , , , , , , Net income, ,$, ,67 , ,Additional information from the accounting records:, ,a., ,During 2011, $6 million of customer accounts were written off as uncollectible., ,b., , ,Investment revenue includes Arduous Company’s $6 million share of the net income of Demur Company, an equity method investee., , ,c., , ,Treasury bills were sold during 2013 at a gain of $2 million. Arduous Company classifies its investments in Treasury bills as cash equivalents., , ,d., , ,A machine originally costing $70 million that was one-half depreciated was rendered unusable by a rare flood. Most major components of the machine were unharmed and were sold for $17 million., , ,e., , ,Temporary differences between pretax accounting income and taxable income caused the deferred income tax liability to increase by $3 million., , ,f., , ,The preferred stock of Tory Corporation was purchased for $25 million as a long-term investment., , ,g., , ,Land costing $46 million was acquired by issuing $23 million cash and a 15%, four-year, $23 million note payable to the seller., , ,h., , ,A building was acquired by a 15-year capital lease; present value of lease payments, $82 million., , ,i., ,$60 million of bonds were retired at maturity., ,j., , ,In February, Arduous issued a 4% stock dividend (4 million shares). The market price of the $5 par value common stock was $7.50 per share at that time. Also the company paid a cash dividend., , ,k., ,In April, 1 million shares of common stock were repurchased as treasury stock at a cost of $9 million., ,Required:, , ,Prepare the statement of cash flows for Arduous Company using the indirect method. , , ,
Multi Step Question: 2 brief paragraphs (100-150 words) “EMBEZZLEMENT IN THE WORKPLACE”,Employee theft is a major problem in the U.S. retail industry. Information obtained from Security Info Watch reported that 23 major retailers alone apprehended over 1.1 million shoplifters and dishonest employees, and recovered more than $189 million from these thieves in 2012.,STEP ONE: WATCH Prevent Employee Theft in Your Business on YouTube https://www.youtube.com/watch?v=x8OHUCMtgMM,STEP TWO: PLEASE, Then identify at least 4 internal controls effective in mitigating employee theft and/or fraud. Provide at least 2 examples of internal controls that could be implemented to reduce theft in the US retail industry,Please list references used: Not a paper no need for a cover sheet.
Hello, ,,Please help me with journal entries and adjusting entries. I was told there are 7 adjusting entries. ,1/1 Joe Jones started a new business called Joe’s Landscaping Service. Inc. The company issued 100,000 shares of stock, par $1, for $100,000. The $100,000 was deposited in a bank account.,, 1/1 Purchased a truck for $12,000, no salvage value, useful life 5 years, for cash.,, 1 / 2 Purchased a 3 year insurance policy for $3,600 cash.,, 1 / 3 Purchased land $10,000; paid $ 5,000 down, gave a non-interest bearing note payable for the, balance,,1 / 15 Signed a contract to perform landscaping for $48,000. The job will take 2 months and we are paid at the beginning of the job.,,1 / 15 Signed a contract to perform landscaping for $40,000. The job will take 2 ½ months and we are paid at the end of the job.,,1/15 Purchased a computer for $ 3,600, no salvage value, life 3 years.,, 1 / 20 Purchased office supplies for $ 2,000 on account,,Additional Information: On 1/31, owed $600 wages and office supplies on hand totaled ,$ 1,500.
Many names have been recognized as notable business leaders. Steve Jobs, Bill Gates, and Colleen Barrett are all names identified for their unique approach to leading people. Please review the attached document to locate more business leaders. Select one leader and identify their leadership style.,,Discuss (1,250-1,500 words) what you learned about them as leaders and the leadership style used. Include the following in your assignment:,,Describe the leader and why he/she was selected. What organizations are they affiliated with? In what industry are they recognized? How long were they in a leadership position?,Which of the leadership perspectives discussed in this topic does the selected leader demonstrate?,Identify a significant challenge the leader faced and how the challenge was handled. Did the response align more with a managerial role or a leadership role?,What was the leader’s greatest achievement?,What power base does the leader use?,Compare the leadership style used by your selected leader against that of their successor/predecessor. Was there a shift in the leadership style? Which leader do you think was more effective and why?,Talk about the attributes you hope to follow as a leader. How will these attributes be similar to or different than the leader studied?,You are required to cite 2 sources in this assignment. Provide evidence to support the leadership style your selected leader showed. This should not be completed based on an opinion.
Human resource professionals regularly face ethical decisions, particularly as they balance the interests of the organization with the interests of individual employees. In this case study, you will analyze a situation that requires ethics to be applied in making a decision and provide a recommendation for how the person, Mary Alice, should proceed and why. Making decisions when there are competing interests is something all leaders have to cope with. Use this assignment as an opportunity to reflect on your own decision-making style., ,Scenerio below:,,Mary Alice is an HR generalist assigned to the Norwalk plant of FMC Inc. She has worked at the plant for six years and knows many of the employees, both as co-workers and from community activities. For the past several months, Mary Alice has been involved in confidential discussions regarding several of the Norwalk production processes moving to the Huntsville plant, which is operating under capacity. Only a handful of the Norwalk employees will be offered the opportunity to move to Huntsville and about 200 employees will be laid off. The announcement is going to be made in 60 days., ,At a school fundraiser last evening, Ralph, a co-worker who is most likely going to be laid off, spent time talking with Mary Alice about the new home he was purchasing. The mortgage is at the limit of what Ralph’s family can afford, but as he explained to Mary Alice, with FMC doing so well and the likelihood of him getting overtime in the coming year, well, they could just about swing it., ,Mary Alice was conflicted. She wanted to tell Ralph about the coming layoffs, but she was bound by her pledge of confidentiality regarding the layoff discussions. Also, if she said something to Ralph, it would undoubtedly get out and perhaps cause a panic and eliminate the chance for an orderly transition to the smaller operation in Norwalk, hurting plant productivity in the meantime. Mary Alice can’t seem to find a way to make a decision. What should Mary Alice do and why?,,Write a short paper that addresses the following:, •Describe two ethical philosophies that might help with the decision. .,•Make a recommendation for how you would advise Mary Alice to act. .,•Provide a description of the process you used to arrive at the recommendation. .,•Are there limitations or possilbe unintended consequences associated with your recommendations? Explain and justify your claims. ., ,Things to Remember!, •Write a short paper 2 to 3 pages in length (not including title and reference pages). .,•Use Times New Roman, 12-point font, double-spaced, with one-inch margins, with APA-formatted in-text citations and references for all resources. .
,to begin this assignment, choose a doman from the reference below and describe and evaluate a leader from personal experience. Address the following in your response. Please use APA form and style also please use cover sheet that is attached.,
,In a three hundred word response, Discuss three ways that researchers can help maximize the integrity of data files for research clients. ,
,1. Do you think business is abusing its power with respect to invasion of privacy of consumers? Is surveillance of consumer’s in the marketplace a fair practice? Which particular practice do you think is the most questionable?,2. What is the greatest strength of a pluralistic society? What is the greatest weakness? Do these characteristics work for or against business?,3. Give a definition of ethical business behavior, explain the components involved in making ethical decisions, and give an example from your personal experience of the sources of ethical norms that affect you while making these determinations.,4 Differentiate between a bribe and a grease payment. Give an example of each.,