Premium Essay

Acct 505 Course Project 1

In: Other Topics

Submitted By CathyBoone
Words 670
Pages 3
ACCT 505 Course Project 1 Follow Below Link to Download Tutorial http://homeworklance.com/downloads/acct-505-course-project-1/ For More Information Visit Our Website ( http://homeworklance.com/ )

Email us At: Support@homeworklance.com or lancehomework@gmail.com

COURSE PROJECT 1 INSTRUCTIONS You have just been contracted as a budget consultant by LBJ Company, a distributor of bracelets to various retail outlets across the country. The company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash.
You have decided to prepare a cash budget for the upcoming fourth quarter in order to show management the benefits that can be gained from proper cash planning.You have worked with accounting and other areas to gather the information assembled below.
The company sells many styles of bracelets, but all are sold for the same $10 price. Actual sales of bracelets for the last three months and budgeted sales for the next six months follow:
July (actual) 20,000
August (actual) 26,000
September (actual) 40,000
October (budget) 70,000
November (budget) 110,000
December (budget) 60,000
January (budget) 30,000
February (budget) 28,000
March (budget) 25,000 The concentration of sales in the fourth quarteris due to the Christmas holiday. Sufficient inventory should be on hand at the end of each month to supply 40% of the bracelets sold in the following month.

Suppliers are paid $4 for each bracelet. Fifty-percent of a month’s purchases is paid for in the month of purchase; the other 50% is paid for in the following month. All sales are on credit with no discounts. The company has found, however, that only 20% of a month’s sales are collected in the month of sale. An additional 70% is collected in the following month, and the remaining 10% is collected in the second month following sale.…...

Similar Documents

Premium Essay

Acct 504 Course Project

...CORPORATION ||| WASHINGTON| |91-1144442| (STATE OF INCORPORATION)| |(I.R.S. ID)| ONE MICROSOFT WAY, REDMOND, WASHINGTON 98052-6399 (425) 882-8080 www.microsoft.com/investor Securities registered pursuant to Section 12(b) of the Act: COMMON STOCK, $0.00000625 par value per share NASDAQ Securities registered pursuant to Section 12(g) of the Act: NONE Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x No ¨ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ¨ No x Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨ Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ¨ Indicate by check mark if......

Words: 55776 - Pages: 224

Premium Essay

Course Project Acct 312

...BRODERICK MARTINEZ BY: MURTAZA MOIZ TABLE OF CONTENT Cover Page Pg. 1 Table of Contents Pg. 2 Introduction Pg. 3 History Pg. 3 Financial Statement Breakdown Pg. 4 Conclusion Pg. 11 Financial Statements Pg. 12 Work Cited Pg. 16 INTRODUCTION Today this Financial Analysis will serve its purpose as a company which is one of the top leading in making computer manufacturing parts. I chose Apple for my course project mainly based on the fact that they release all their records to the public and they have excellent accounting practices. Apple Inc. is the popular name on almost 1 out of 5 people in the world, whom speak of it. It is by far one of the greatest company of our time and is a 500 Fortune Company and it currently holds little......

Words: 4067 - Pages: 17

Premium Essay

Acct 504 Course Project

...Windows & Windows Live Division (Windows Division), Server and Tools, Online Services Division (OSD), Microsoft Business Division (MBD), and Entertainment and Devices Division (EDD). Its products include operating systems for personal computers (PCs), servers, phones, and other intelligent devices; server applications for distributed computing environments; productivity applications; business solution applications; desktop and server management tools; software development tools; video games, and online advertising. Its cloud-based computing services include Bing and Windows Live Essentials suite. In October 2011, it acquired Skype Global S.a r.l. In November 2011, the Company acquired VideoSurf Inc.” Microsoft’s leading products are: 1) Windows Division 2) X-Box 3) Skype Leadership style and innovative track record. Microsoft’s leadership style was earlier guided by Bill Gates , founder of Microsoft. http://investing.money.msn.com/investments/company-report?symbol=US%3aMSFT Oracle’s profile As per yahoo.com, “Oracle Corporation, an enterprise software company, develops, manufactures, markets, distributes, and services database and middleware software, applications software, and hardware systems worldwide.” The company also offers customers with rights to unspecified software product upgrades and maintenance releases; Internet access to technical content; and Internet and telephone access to technical support personnel. In addition, its hardware systems......

Words: 719 - Pages: 3

Premium Essay

Acct 550 Course Project

...Assets Copyrights $105,000 Good Will $100,000 Patents $125,000 Trademarks $80,000 Total Intangible Assets $410,000 Other Assets Deposits with Vendors – based on long term purchase contracts $50,000 Total Assets $2,080,554 Liabilities & Stockholders’ equity Current Liabilities Notes Payable to banks $50,000 Accounts Payable $197,532 Accrued Interest on Notes Payable $500 Salaries Payable $52,000 Income Taxes Payable $62,520 Mortgage Payable – Current $18,000 Accrued Liabilities $9,500 Customer Deposits (expected to be paid next year) $420 Total Current Liabilities $390,472 Long Term Liabilities Bond – Twenty year, 12% Due 1/1/2013 $500,000 Mortgage Payable – noncurrent $290,000 Total Long Term Liabilities $790,000 Total Liabilities $1,180,472 Stockholders’ Equity Paid in on Capital Stock Preferred Stock, 7% $300,000 Common Stock $400,000 Additional Paid in Capital $37,500 Retained Earnings $162,582 Total Stockholders’ Equity $900,082 Total Liabilities & Stockholders’ Equity $2,080,554 Income Statement December 31, 20XX Revenues Sales Revenue $2,000,000 Sales Discounts $120,000 Net Sales $1,880,000 Interest Revenue $25,000 Rental Income $50,000 Dividend Income $30,000 Total Income $1,985,000 Expenses Cost of Goods......

Words: 326 - Pages: 2

Premium Essay

Acct 505: Course Project B

...elaborating and supporting your answer. I would recommend the acceptance of Clark Paints’ proposal to purchase the new machine to make the paint cans instead of purchasing them. My decision to accept the proposal is supported by the net present value method. The net present value of this project is $33,035. Our textbook, Managerial Accounting, provides an explanation of this concept: “Under the net present value method, the present value of a project's cash inflows is compared to the present value of the project's cash outflows. The difference between the present values of these cash flows is called the net present value” (Garrison, 2012, p.583). Furthermore, our textbook, states: “Whenever the net present value is zero or greater an investment project is acceptable. Whenever the net present value is negative (the present value of the cash outflows exceeds the present value of the cash inflows), an investment project is not acceptable” (Garrison, 2012, p. 583). Below is a chart taken from our textbook, Managerial Accounting, found on page 583: EXHIBIT 13–1 Net Present Value Analysis of a Proposed Project I included this chart because it clearly explains the rules of when to accept or reject a project. And it further supports my decision to accept the proposal of the new machine because the net present value is a positive value: $33,035. According to this analysis Clark Paints should purchase the new machine. References Garrison, R. (2012). Managerial Accounting......

Words: 275 - Pages: 2

Premium Essay

Acct 312 Course Project

...[Type the company name] | Comcast Corporation | Financial Analysis of 2013 Annual Reports | | [Type the author name] | | Analysis by Page Table of Contents Analysis by Page 1 Introduction 2 Property and Equipment 3 Figure 1: Property and Equip Details 3 Intangible Assets 4 Figure 2: Review of Intangible Assets 4 Goodwill 6 Figure 3: Review of Goodwill 6 Liabilities 7 9 Other Capital Ventures 11 Works Cited 12 Introduction The Comcast Corporation is the largest cable and home internet provider in the United States. The company functions as a cable provider and ISP, including telephone services for residential and commercial customers throughout the US. This makes Comcast a central focus for both customer and competitor criticism and deserves serious financial analysis and inquires. Comcast recently stating the company was looking to invest in acquiring its competitor Time Warner Cable has brought the company to the attention of many financial firms considering the possible domination the company could holder over its industry. This analysis will be used as a mean of reviewing the financial standing of the Comcast Corporation and analyze these resources the company has at hand. Property and Equipment Figure 1: Property and Equip Details The amount of property and equipment the company has on file for the years for 2013 and 2012 are $72, 414 and $66,657 respectively. The property and equipment are stated at cost. The...

Words: 2278 - Pages: 10

Premium Essay

Acct 550 Project 1

...Company Name Balance Sheet As of DEC 31, 2012 Assets Current Assets Cash 42,485 Trading Securities FMV 28,250 Acct Receivable 165,824 Allowance for Doubtful Accounts (1,850) Net Realizable Value 163,974 Merchandise Inventory 499,493 Notes Receivable 23,000 Prepaid Expenses 16,252 Total Current Assets 773,454 Long Term Investments Investments in Warren Co. 87,500 Total Long Term Investment 87,500 Property, Plant and Equipment Land 125,000 Building 975,800 Accumulated Depreciation 341,200 Book Value 634,600 Total Property, Plant and Equipment 759,600 Intangible Assets Copyrights 105,000 Goodwill 100,000 Patents 125,000 Trademarks 80,000 Total Intangible Assets 410,000 Other Assets Deposits with Vendors 50,000 Total in Other Assets 50,000 Total Assets 2,080,554 Liabilities and Stockholders’ Equity Liabilities Current Liabilities Accounts Payable 197,532 Notes Payable to Banks 50,000 Salaries Payable 52,000 Income Tax Payable 62,520 Accrued Liabilities 9,500 Accrued Interest on Notes Payable 500 Rent......

Words: 345 - Pages: 2

Premium Essay

Acct 504 Course Project

...An Examination of LBJ Distribution Company Internal Controls Infrastructure Pre IPO ACCT 504: Financial Accounting Keller Graduate School of Management Professor Ganesh Pandit Date: February 9, 2014 Pre IPO Examination of LBJ Distribution Company Internal Controls Infrastructure Prepared for: President, LBJ Distribution Company Prepared By: Véron S.A. Lake Company: LLMCO Date: 9 February 2014 Table of Contents Introduction 3 Purpose 4 Legal Requirement of Internal Controls 5 IPO Readiness: Financial Internal Controls 5 IPO Readiness: Recommendations 6 Reliable Monthly Reports 6 Adequate Staffing of Financial Departments 6 Implementation of Audit Infrastructure 6 IPO Readiness: LBJ Internal Control Strengths 7 Pre-numbered Invoices 7 Recommendations: Indelible Ink Machine 7 IPO Readiness: LBJ Internal Control Weaknesses 7 Staffing: Accounting Department 7 Staffing: Human Resource Department 8 Recommendations: Handling Petty Cash 8 Recommendations: IT Department Physical Controls 9 Conclusion 9 Works Cited 10 Introduction A company going public today is different than what it was in the dot com era; this is because the IPO landscape has changed significantly in the last decade (KPMG, 2013). Recently experts has seen compression in the markets, decreasing or shifting mergers and acquisition activity, faltering businesses and more scrutiny on balance sheets and company cash as well as access to capital (KPMG, 2013;......

Words: 1816 - Pages: 8

Premium Essay

Acct 504 Course Project

...An Examination of LBJ Distribution Company Internal Controls Infrastructure Pre IPO ACCT 504: Financial Accounting Keller Graduate School of Management Professor Ganesh Pandit Date: February 9, 2014 Pre IPO Examination of LBJ Distribution Company Internal Controls Infrastructure Prepared for: President, LBJ Distribution Company Prepared By: Véron S.A. Lake Company: LLMCO Date: 9 February 2014 Table of Contents Introduction 3 Purpose 4 Legal Requirement of Internal Controls 5 IPO Readiness: Financial Internal Controls 5 IPO Readiness: Recommendations 6 Reliable Monthly Reports 6 Adequate Staffing of Financial Departments 6 Implementation of Audit Infrastructure 6 IPO Readiness: LBJ Internal Control Strengths 7 Pre-numbered Invoices 7 Recommendations: Indelible Ink Machine 7 IPO Readiness: LBJ Internal Control Weaknesses 7 Staffing: Accounting Department 7 Staffing: Human Resource Department 8 Recommendations: Handling Petty Cash 8 Recommendations: IT Department Physical Controls 9 Conclusion 9 Works Cited 10 Introduction A company going public today is different than what it was in the dot com era; this is because the IPO landscape has changed significantly in the last decade (KPMG, 2013). Recently experts has seen compression in the markets, decreasing or shifting mergers and acquisition activity, faltering businesses and more scrutiny on balance sheets and company cash as well as access to capital (KPMG, 2013;......

Words: 1816 - Pages: 8

Premium Essay

Accounting 505 Course Project a

...Project A | | | | | | | | | | Student Name: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | SALES BUDGET: | | | | | | | | | | | | | January | February | March | April | May | June | Quarter | July | August | Budgeted Unit Sales | | $ 20,000.00 | $ 26,000.00 | $ 40,000.00 | $ 65,000.00 | $ 100,000.00 | $ 50,000.00 | $ 215,000.00 | $ 30,000.00 | $ 28,000.00 | Selling Price per unit | | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | Total Sales | | $ 200,000.00 | $ 260,000.00 | $ 400,000.00 | $ 650,000.00 | $ 1,000,000.00 | $ 500,000.00 | $ 2,150,000.00 | $ 300,000.00 | $ 280,000.00 | | | | | | | | | | | | SCHEDULE OF EXPECTED CASH COLLECTIONS | | | | | April | May | June | Quarter | | current mo | | | | | | | | | | | next mo | February Sales | | | | | $ 26,000.00 | | | $ 26,000.00 | | following mo | March Sales | | | | | $ 280,000.00 | $ 40,000.00 | | $ 320,000.00 | | | April Sales | | | | | $ 130,000.00 | $ 455,000.00 | $ 65,000.00 | $ 650,000.00 | | | May Sales | | | | | | $ 200,000.00 | $ 700,000.00 | $ 900,000.00 | | | June Sales | | | | |   |   | $ 100,000.00 | $ 100,000.00 | | | Total Cash Collections | | | | | $ ......

Words: 869 - Pages: 4

Premium Essay

Acct 212: Course Project 1

...ACCT 212: Course Project 1 Follow Below Link to Download Tutorial http://homeworklance.com/downloads/acct-212-course-project-1/ For More Information Visit Our Website ( http://homeworklance.com/ ) Email us At: Support@homeworklance.com or lancehomework@gmail.com Part A 1 Prepare the Journal Entries in the General Journal Journal Entries 2 Post Journal Entries to the General Ledger General Ledger 3 Prepare a Trial Balance Trial Balance Part B 4 Prepare the Adjusting Entries Adjusting Entries 5 Post Adjusting Entries to the General Ledger General Ledger 6 Prepare an Adjusted Trial Balance Adjusted TB 7 Prepare the Financial Statements Financial Statements 8 Prepare the Closing Entries Closing Entries 9 Post Closing Entries to the General Ledger General Ledger Prepare the Post Closing Trial Balance Post Closing TB Click on the worksheet link to complete the corresponding Requirement or the Project Instructions button below for an overview. 10 Project Instructions Course Project #1 Overview The Course Project consists of 10 Requirements for you to complete. The Course Project is due at the end of Week 6. See the Syllabus section ”Due Dates for Assignments & Exams” for due date information. All of the information you need to complete the Course Project is located in this Workbook. • There are eight worksheets in the workbook you will need to complete. • A list of October transactions • A Chart of Accounts......

Words: 1862 - Pages: 8

Premium Essay

Acct 505 Course Project 2: Hampton Company

...ACCT 505 Course Project 2: Hampton Company Follow Below Link to Download Tutorial http://homeworklance.com/downloads/acct-505-course-project-2-hampton-company/ For More Information Visit Our Website ( http://homeworklance.com/ ) Email us At: Support@homeworklance.com or lancehomework@gmail.com Capital Budgeting Decision Hampton Company: The production department has been investigating possible ways to trim total production costs. One possibility currently being examined is to make the cans instead of purchasing them. The equipment needed would cost $1,000,000, with a disposal value of $200,000, and would be able to produce 27,500,000 cans over the life of the machinery. The production department estimates that approximately 5,500,000 cans would be needed for each of the next 5 years. The company would hire six new employees. These six individuals would be full-time employees working 2,000 hours per year and earning $15.00 per hour. They would also receive the same benefits as other production employees, 15% of wages in addition to $2,000 of health benefits. It is estimated that the raw materials will cost 30¢ per can and that other variable costs would be 10¢ per can. Because there is currently unused space in the factory, no additional fixed costs would be incurred if this proposal is accepted. It is expected that cans would cost 50¢ each if purchased from the current supplier. The company’s minimum rate of return (hurdle rate) has been determined to...

Words: 388 - Pages: 2

Premium Essay

Acct 505 Course Extraordinary Success/ Tutorialrank.Com

...ACCT 505 Entire Course (DEVRY) For more course tutorials visit www.tutorialrank.com Tutorial Purchased: 5 Times, Rating: A+ ACCT 505 Week 1-7 All Discussion Questions ACCT 505 Week 1 Case Study ACCT 505 Week 2 Quiz Job Order and Process Costing Systems ACCT 505 Week 3 Case Study II ACCT 505 Week 4 Midterm Exam ACCT 505 Week 5 Measuring Performance - Course Project A ACCT 505 Week 6 Quiz Segment Reporting and Relevant Costs for Decisions ACCT 505 Week 7 Capital Budgeting Course Project ********************************************************** ACCT 505 Week 1 Case Study (DEVRY) For more course tutorials visit www.tutorialrank.com Tutorial Purchased: 3 Times, Rating: A+ Top Switch Inc. designs and manufactures switches used in telecommunications. Serious flooding throughout the state of Tennessee affected Top Switch’s facilities. Inventory was completely ruined, and the company’s computer system, including all accounting records, was destroyed. Before the unfortunate incident, recovery specialists cleaned the buildings. The company controller is very nervous and anxious to recover whatever records he can to support the insurance claim for the destroyed inventory. After consulting with the cost accountant, they decide to retrieve the previous year’s annual report for the beginning inventory numbers. In addition, they also agreed that they need first quarter cost data. The cost accountant was working on the first quarter results before the storm hit, and......

Words: 3967 - Pages: 16

Premium Essay

Acct 251 Course Project : Peachtree Project

...ACCT 251 Course Project : Peachtree Project http://homeworkregency.com/downloads/acct-251-course-project-peachtree-project/ Note! Submit your assignment to the Dropbox located on the silver tab at the top of this page. (See the Syllabus section “Due Dates for Assignments & Exams” for due dates.) Your Assignment| Grading Rubrics Your Assignment Back to Top Students will be required to complete a project in this class that tests their knowledge & skills in managing the books for a small business using Peachtree Complete Accounting 2010. The assignments that you will be completing during Week 1 – 4 focus on specific Peachtree skills; however, this assignment allows you to use what you have learned about Peachtree to manage the books for a firm without \’step-by-step\’ guidance, which is typical for assignments you will see in the workplace. You will complete Project 1 (Susan Watson Accounting), which is located at the end of Chapter 11. As part of this project, you will generate the required reports as listed in the textbook as well as the Check Your Progress worksheet (which you will create in Excel) at the end of the project. • If you fail to submit the “Check Your Progress” worksheet, you will lose 20%. Once you have submitted your project and it has been graded, you cannot resubmit it. • You will need to generate the reports when requested per the project for you cannot assume that every report is generated at the end of the project. You do not need to submit...

Words: 502 - Pages: 3

Premium Essay

Acct 251 Course Project : Peachtree Project

...ACCT 251 Course Project : Peachtree Project To Buy this Class Copy & paste below link in your Brower http://homeworkregency.com/downloads/acct-251-course-project-peachtree-project/ Or Visit Our Website Visit : http://www.homeworkregency.com Email Us : homeworkregency@gmail.com ACCT 251 Course Project : Peachtree Project Note! Submit your assignment to the Dropbox located on the silver tab at the top of this page. (See the Syllabus section “Due Dates for Assignments & Exams” for due dates.) Your Assignment| Grading Rubrics Your Assignment Back to Top Students will be required to complete a project in this class that tests their knowledge & skills in managing the books for a small business using Peachtree Complete Accounting 2010. The assignments that you will be completing during Week 1 – 4 focus on specific Peachtree skills; however, this assignment allows you to use what you have learned about Peachtree to manage the books for a firm without \’step-by-step\’ guidance, which is typical for assignments you will see in the workplace. You will complete Project 1 (Susan Watson Accounting), which is located at the end of Chapter 11. As part of this project, you will generate the required reports as listed in the textbook as well as the Check Your Progress worksheet (which you will create in Excel) at the end of the project. • If you fail to submit the “Check Your Progress” worksheet, you will lose 20%. Once you have submitted your project and it has been...

Words: 533 - Pages: 3