Category: Accounting

Sustainability of Technologies: A Call for Action

Posted on | by Kelvin

 

Energy prices and global warming are discussed daily in the news as the environmental impact of e-waste is just beginning to be recognized. Sustainability and corporate social responsibility need to be taken seriously by all managers because everyone should have an active role in helping to preserve the environment.
Assignment
You’ve been assigned the role of Sustainability Manager for your organization. Prepare a presentation for the CEO regarding sustainability of technologies. Your presentation should be 5 to 8 slides and include the following:
For each department in the company (Accounting/Finance, Marketing, Sales, and Manufacturing) research and report the following:
o The types of environmental issues they typically encounter
o What can each department do to help combat its environmental issues?
o Which department do you think creates the most e-waste and why?
o Which department uses the greatest amount of electricity or has the largest carbon footprint? Provide rationale.
o Why do all managers and employees need to be aware of environmental issues and ways they can create sustainable MIS infrastructures,

Recording and Measuring Sick Leave Liability at Helen Company

Posted on | by Kelvin

Organize and interpret the findings of your research in one to two pages (12-point, double-spaced).
Case 3
Helen Company’s fiscal year ends on June 30th. Its employees (with at least three months of
experience) are entitled to 12 paid sick days annually for each calendar year beginning on January 1st.
An employee not taking his or her earned sick days would receive payment thereon on December 31st
of that year. How should Helen Company record and measure such a liability as of June 30th?

 

 

The Importance of Client Engagement and the Sales Pipeline in Consulting Work

Posted on | by Kelvin

 

When practicing consultancy, you must develop and maintain relationships with clients to ensure the longevity of the association between the two. Discuss the process of client engagement and the sales pipeline and its importance in consulting work. Lastly, select one scorecard model and discuss its usage and how it works as a tool to benefit the client.

Income Statement for Nets Ltd. (Periodic System) – Year Ended December 31, 2022

Posted on | by Kelvin

Perpetual and Periodic System
The following transactions were completed during December by QLO Clothing.
Dec 2
Dec 5 Paid freight on Giant Co. purchase $90
Dec 7 Sold hats to Nunez, Co $2,400, terms n/30. The merchandise sold had a cost of
$2,100
Dec 10 Received credit of $95 from Giant Co. for pants that was returned
Dec 12 Purchased jackets from Margot for cash $2,150
Dec 13 Paid Giant Co. In full
Dec 15 Purchased cardigans from Alpha $2,000, FOB Shipping Point, terms
5/10, n/60
Dec 16 Received cash refund of $175 from Margot for damaged jackets that was returned
Dec 18 Paid freight on Alpha purchase $95
Dec 19 Sold jackets to members $1070, terms n/45. The cost of merchandise sold was $550
Dec 22 Received $830 in cash from Nunez, Co in settlement of their account
Dec 25 Paid Alpha in full
Dec 28 Granted an allowance of $95 to Nunez, Co for hats that were torn. The cost of the
hat is $60
Required:
Prepare the December transactions using a perpetual and periodic inventory system
Task:
Income Statement
At the end of Nets Ltd.’s fiscal year on December 31, 2022, these accounts appeared in its
adjusted trial balance.
Freight – In $ 9,300
Inventory (1 Jan 2022) $ 55,000
Purchases $ 850,000
Purchases Discount $ 35,000
Purchases Return and Allowances $ 8,500
Sales Revenue $ 865,000
Sales Return and Allowances $ 32,000
Additional facts:
1. Merchandise inventory on December 31, 2022, is $92,000
2. Nets Ltd. uses a periodic system.
Required:
Prepare an income statement through gross profit for the year ended December 31,2022.

 

Understanding Stockholders’ Equity in Corporations

Posted on | by Kelvin

 

The stockholders’ equity section of the balance sheet for corporations contains two primary categories of accounts, contributed capital and earned capital.  Describe how they are different from each other, while detailing the respective accounts for each category, and describe the payment of dividends from stockholders’ equity, using pictures, charts, and/or symbols in an infographic.

 

Termination of Partnership Agreement: Considerations and Processes

Posted on | by Kelvin

A partnership is thriving, until one of the partners begins to behave differently.  She begins coming to work late or not at all.  The other partners are concerned about the change in her behavior.  They confront her and she denies that anything is different, pointing out that her work is still getting done and that she wants a little more flexibility in her hours.  The other partners are not convinced and decide to terminate the partnership agreement.  Can the other partners break the agreement?  How?  What considerations must the partners consider?  Explain why.