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Q: Management accounting
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Beomgyu, Yeonjun, and Soobin were all successful entrepreneurs. They believed that once they pulled their resources together and with their combined expertise and managerial skills, they can surely beat the existing competitors in the locality. Their respective post-closing
Beomgyu Yeonjun Soobin
Cash 950,000 850,000 750,000
Accounts Receivable 70,000 90,000 25,000
Est. Uncollectible Accounts (3,000) (5,000) (2,000)
Merchandise Inventory 420,000 600,000 450,000
Equipment 350,000 480,000 250,000
Capital 1,607,000 1,785,000 1,298,000
They agreed to comply with the following adjustments:
1. Accounts Receivable should have the following probability of collection:
Beomgyu, 90%: Yeonjun, 95%; Soobin, 98%
2. MErchandise should be revalued at 90% of the book value to provide for obsolence.
3. Equipment should have the carrying values as follows:
Beomgyu, 165,000; Yeonjun, 150,000; Soobin, 180,000
4. Each of the prospective partners should level off their cash contribution to 1,000,000.
Required:
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- . PQR is the accounting intern for, a firm that has many small clients that need monthly accounting services. Ray has been asked by the partner in charge to analyze the asset section of firm’s balance sheets which follow: 2011 2012 Cash $2,500 $3,900 Accounts receivable, net 35,000 40,000 Inventory 85,000 122,000 Other current assets 3,400 4,110 Total current assets 125,900 170,010 Property , plan &equipment , net 180,000 230,000 Other assets 15,000 26,000 Total assets $320,900 $426,010 Required Prepare a common-size analysis of the assets section of the firm’s balance sheet for 2011 and 2012.Round all percentage answers to one decimal placeCan you please help me answer this problem with a detailed solution so I understand clearly how I can answer similar problems with this one? It would be preffered if it were presented in an excel. Thank you so much in advance! Your help would be greatly appreciated. PROBLEM: The following are the transactions of a joint operation formed by A, B and C during a year: A contributed cash of $400 and merchandise costing $800. B contributed merchandise costing $1,600. Freight-in paid by B is $80 C made purchases amounting to $400 using the cash contributed by A. C paid expenses of $800 using its own cash C made total sales of $3,200. All the merchandise was sold except one-half of those contributed by B. C is appointed as the manager of the joint operation. As compensation, C is entitled to a $120 salary plus bonus of 25% on profit after salary and bonus. Interest of 10% per annum is allowed to A and B's capital contributions C is charged for the cost of any unsold inventory. Profit or loss…Alyssa who is currently operating a machine shop is considering Dindin, an excellent employee, to be her partner. Unfortunately, Dindin could not afford to invest cash of P 500,000 which Alyssa needs to expand her business. As consultant, you asked Alyssa to answer some questions before giving an advice on whether Dindin should be taken in as partner. What is your present annual net income? Can you avail of a loan of P 500,000? P 450,000 Yes Land Bank @ 17% P 450,000 What bank and what is the interest rate? With the new equipment, how much additional income will it generate? In how many year are you going to pay the loan? How much are you willing to pay Dindin as salary or profit? 5 years P 160,000 You drafted the following informatic and filed it up: Net income with the new equipment Less (Minus) interest charge on loan liability Net income after the interest charge Less (Minus) share of Dindin in the profits Share of Alyssa in the net income Net income the business is currently…
- Alyssa who is currently operating a machine shop is considering Dindin, an excellent employee, to be her partner. Unfortunately, Dindin could not afford to invest cash of P 500,000 which Alyssa needs to expand her business. As consultant, you asked Alyssa to answer some questions before giving an advice on whether Dindin should be taken in as partner. Details : 1.What is your present annual net income? P 450,000 2. Can you avail of a loan of P 500,000? Yes 3. What bank and what is the interest rate? Land Bank @ 17% 4. With the new equipment, how much additional income will it generate? P 450,000 5. In how many year are you going to pay the loan? 5 years 6. How much are you willing to pay Dindin as salary or profit? P 160,000 next is what are the answers of the following questions? Net income with the new equipment Less (Minus) interest charge on loan liability Net income after the interest charge Less (Minus) share of Dindin in the profits Share…Alyssa who is currently operating a machine shop is considering Dindin, an excellent employee, to be her partner. Unfortunately, Dindin could not afford to invest cash of P 500,000 which Alyssa needs to expand her business. As consultant, you asked Alyssa to answer some questions before giving an advice on whether Dindin should be taken in as partner. What is your present annual net income? P 450,000 Can you avail of a loan of P 500,000? Yes What bank and what is the interest rate? Land Bank @ 17% With the new equipment, how much additional income will it generate? P 450,000 In how many year are you going to pay the loan? 5 years How much are you willing to pay Dindin as salary or profit? P 160,000 You drafted the following information and filed it up: Net income…Ahmad is an entrepreneur and owner of the company. He thinks whether should he continue his activity and hired you as an analyst in order to carry out a general business analysis. He gave you the general data of from his draftbook: Initial capital 550000 AZN. Salaries for hired employees 11000 AZN. Rented office for company 2000 AZN. Communal services 1000 AZN. Goods obtained 110000 AZN. Sales were 70% of inventory with Trade surcharge of 45 %. 40% of cash were received. Profit Tax 20%. All expenses were paid. write income statement
- PQR is the accounting intern for, a firm that has many small clients that need monthly accounting services. Ray has been asked by the partner in charge to analyze the asset section of firms’s balance sheets which follow: 2011 2012 Cash $2,500 $3,900 Accounts receivable, net 35,000 40,000 Inventory 85,000 122,000 Other current assets 3,400 4,110 Total current assets 125,900 170,010 Property, plant & equipment, net 180,000 230,000 Other assets 15,000 26,000 Total assets $320,900 $426,010 Required Prepare a common-size analysis of the assets section of the firms balance sheet for 2011 and 2012.Round all percentage answers to one decimal placeTo generate leads for new business, Gustin Investment Services offers free financial planning seminars at major hotels in Southwest Florida. Gustin conducts seminars for groups of 25 individuals. Each seminar costs Gustin $3100, and the average first-year commission for each new account opened is $4600. Gustin estimates that for each individual attending the seminar, there is a 0.01 probability that he/she will open a new account. a. Determine the equation for computing Gustin's profit per seminar, given values of the relevant parameters. Round your answers to the nearest dollar. Profit (New Accounts Opened x $ 4600 -$ 3100Case Study You have applied for a public relations (PR) position with a RM 10.2 million savings and loan association, a conservative financial institution that has been in existence for over 50 years. The organization has never employed a PR person before. Now that its assets have risen above 10 million, however, the president of the institution feels it is time to hire someone to ‘do the PR’. During an interview, the president admits he is not sure what PR is, but he is fairly sure he wants the person he hires to plan promotions and stage events that will attract new customers, write stories that will get free space and time in the local media and start an employee publication. The president also states that he is open to suggestions about the position and asks you to explain how you would establish a professional, effective PR program if you were hired.
- Upon graduating with an accounting degree, you open your own accounting firm of which you are the sole employee. To start the firm you passed on a job offer with a large accounting firm that offered you a salary of RM60,000 annually. Last year you earned a total revenue of RM100,000. Rent and supplies last year were RM50,000. 2.1) Your annual economic costs are __________. 2.2) Your annual economic profit is __________. 2.3) Your annual accounting profit is __________. 2.4) Based on the above information, describe the condition of your firm.In a Technopreneurship competition held by Universiti Teknologi PETRONAS (UTP) during the Movement Control Order (MCO) period in year 2020, 1. Syazana and her team managed to win a grand prize award of RM 11,500. After discussion with her team, they decided to put their money in separate accounts namely Maybank fixed deposit, Takaful Malaysia trust fund and Amanah Saham Nasional. a. The Maybank fixed deposit rate is 930% per annum, while Takaful Malaysia trust fund and Amanah Saham Nasional rate are 920% per annum and 800% per annum, respectively. The team also have decided to put RM 2400 inside the Maybank fixed deposit. Based on the information given, use any of the accounts to invest RM 11,500 with the chosen expected profit within RM 97,000 to RM 100,000. All mathematical expressions used must be shown clearly.Upon graduating with an accounting degree, you open your own accounting firm of which you are the sole employee. To start the firm you passed on a job offer with a large accounting firm that offered you a salary of RM60,000 annually. Last year you earned a total revenue of RM100,000. Rent and supplies last year were RM50,000. Based on the above information, describe the condition of your firm.