Business

Leslie Sporting Goods is a locally owned store that specializes in printing team jerseys. The majority of its busine orders for various local teams and organizations. While Leslie’s prints everything from bowling team jerseys to fra apparel to special event shirts, summer league baseball and softball team jerseys are the company’s biggest sou A portion of Leslie’s operating information for the company’s last year follows: Number of Jerseys Printed 215 195 230 550 675 Month January February March April May June July August September October November December Operating Cost $5,835 5,685 5,930 8,575 9,770 9,260 6,230 6,175 6,005 5,960 4,960 4,800 655 455 375 310 230 185 175 Required: 3. Using the high-low method, calculate the store’s total fixed operating costs and variable operating cost per – – –

EXPERT ANSWER Variable cost per hour = (Highest activity cost – Lowest activity cost)/(Highest activity – Lowest activity) = (9,770 – 4,800)/(675 – 175) = 4,970/500 = $9.94 per jersey printed Fixed cost = Highest activity cost – (Highest activity x Variable cost per jersey printed) = 9,770 – (675 x 9.94) = 9,770 – …

Leslie Sporting Goods is a locally owned store that specializes in printing team jerseys. The majority of its busine orders for various local teams and organizations. While Leslie’s prints everything from bowling team jerseys to fra apparel to special event shirts, summer league baseball and softball team jerseys are the company’s biggest sou A portion of Leslie’s operating information for the company’s last year follows: Number of Jerseys Printed 215 195 230 550 675 Month January February March April May June July August September October November December Operating Cost $5,835 5,685 5,930 8,575 9,770 9,260 6,230 6,175 6,005 5,960 4,960 4,800 655 455 375 310 230 185 175 Required: 3. Using the high-low method, calculate the store’s total fixed operating costs and variable operating cost per – – – Read More »

Professional Labor Cost Budget for a Service Company Roberts and Chou, CPAs, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the year ending December 31, 2016: Billable Hours Audit Department: Staff 31,600 Partners 4,700 Tax Department: Staff 23,700 Partners 3,000 Small Business Accounting Department: Staff 4,400 Partners 600 Based on the data provided above and assuming that the average compensation per hour for staff is $40 and for partners is $135, prepare a professional labor cost budget for each department for Roberts and Chou, CPAs, for the year ending December 31, 2016. Roberts and Chou, CPAs Professional Labor Cost Budget For the Year Ending December 31, 2016 Staff Partners Audit department hours Tax department hours Small business accounting department hours Total hours Average compensation per hour x $ x $ Total professional labor cost $ $

Professional Labor Cost Budget for a Service Company Roberts and Chou, CPAs, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the year ending December 31, 2016: Billable Hours Audit Department: Staff 31,600 Partners 4,700 Tax Department: Staff 23,700 …

Professional Labor Cost Budget for a Service Company Roberts and Chou, CPAs, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the year ending December 31, 2016: Billable Hours Audit Department: Staff 31,600 Partners 4,700 Tax Department: Staff 23,700 Partners 3,000 Small Business Accounting Department: Staff 4,400 Partners 600 Based on the data provided above and assuming that the average compensation per hour for staff is $40 and for partners is $135, prepare a professional labor cost budget for each department for Roberts and Chou, CPAs, for the year ending December 31, 2016. Roberts and Chou, CPAs Professional Labor Cost Budget For the Year Ending December 31, 2016 Staff Partners Audit department hours Tax department hours Small business accounting department hours Total hours Average compensation per hour x $ x $ Total professional labor cost $ $ Read More »

Busines Law for the CPA: Greg & Associates, CPAs, is hired by Jones Art Gallery to prepare its tax return. Sally is the owner of Jones Art Gallery and is constantly entering into contracts with museums, private art dealers, and individuals to buy and sell art. From the scenarios below, identify which situation is an offer: A.) The price tag on a painting in the gallery is $500. B.) A visitor to the gallery asks Sally how much she wants for an original painting by an up- -and-coming artist that will be hosting an official opening at the gallery in two days. Sally is anticipating lots of interest in this new artist’s work and thinks the painting is worth a lot. Sally says she would “consider selling it early and would probably take $1,500.” C.) Sally received a new piece of art and advertises it in the local newspaper, indicating that the piece is for sale and interested buyers should visit the gallery. D.) A potential buyer, whom Sally has worked with before, tells her that he wants to buy a certain scultpure for $1,200, that he will pay for it in one week and he gives Sally two days to think about it before it expires.

Busines Law for the CPA: Greg & Associates, CPAs, is hired by Jones Art Gallery to prepare its tax return. Sally is the owner of Jones Art Gallery and is constantly entering into contracts with museums, private art dealers, and individuals to buy and sell art. From the scenarios below, identify which situation is an …

Busines Law for the CPA: Greg & Associates, CPAs, is hired by Jones Art Gallery to prepare its tax return. Sally is the owner of Jones Art Gallery and is constantly entering into contracts with museums, private art dealers, and individuals to buy and sell art. From the scenarios below, identify which situation is an offer: A.) The price tag on a painting in the gallery is $500. B.) A visitor to the gallery asks Sally how much she wants for an original painting by an up- -and-coming artist that will be hosting an official opening at the gallery in two days. Sally is anticipating lots of interest in this new artist’s work and thinks the painting is worth a lot. Sally says she would “consider selling it early and would probably take $1,500.” C.) Sally received a new piece of art and advertises it in the local newspaper, indicating that the piece is for sale and interested buyers should visit the gallery. D.) A potential buyer, whom Sally has worked with before, tells her that he wants to buy a certain scultpure for $1,200, that he will pay for it in one week and he gives Sally two days to think about it before it expires. Read More »

ure.com The reason for a city’s existence along with it. future growth or decline, what it offers that other cities do not, and what attracts busines and people: Choose minimum requirement location quotient agglomeration economies non-basic employment economic base multiplier comparative advantage transfer income basic employment NAICS factors of production Resources in the production process (such as capital, labor, and raw materials) that are used by businesses to produce products: The phenomena whereby firms will tend to locate near each other because of shared inputs or information (which benefits their production): i Choose Activities that produce goods and services for consumption outside the community, and drive the local economy I Choose] Activities that produce goods and services for the local economy, and circulate money that is already in the local market: I Choose The classification system used by the Bureau of Economic Analysis to identify different industries: I Choose1 The ratio of total employment to estimated basic employment in a community, which is used to estimate the impact of additional basic jobs: Choose An analytical statistic that measures a regions industrial specialization relative to a larger geographic unit (usually the nation): Choose A method compares community level employment information, not to the nation, but to other communities of similar size:

EXPERT ANSWER Basic employment : It is part of Urbanization 2. Factors of production: These are used to produce finished products. 3. Agglomeration economies: These effects are cost savings which arise from urban agglomeration. 4. Comparative advantage: Different communities or say nations engage with each other exporting. 5. Transfer income: This is the way to redistribute the money to the …

ure.com The reason for a city’s existence along with it. future growth or decline, what it offers that other cities do not, and what attracts busines and people: Choose minimum requirement location quotient agglomeration economies non-basic employment economic base multiplier comparative advantage transfer income basic employment NAICS factors of production Resources in the production process (such as capital, labor, and raw materials) that are used by businesses to produce products: The phenomena whereby firms will tend to locate near each other because of shared inputs or information (which benefits their production): i Choose Activities that produce goods and services for consumption outside the community, and drive the local economy I Choose] Activities that produce goods and services for the local economy, and circulate money that is already in the local market: I Choose The classification system used by the Bureau of Economic Analysis to identify different industries: I Choose1 The ratio of total employment to estimated basic employment in a community, which is used to estimate the impact of additional basic jobs: Choose An analytical statistic that measures a regions industrial specialization relative to a larger geographic unit (usually the nation): Choose A method compares community level employment information, not to the nation, but to other communities of similar size: Read More »

d of personal computer. It c each time it places an order with the manufacturer for the personal mpu one PC in inventory for a year is $170. The store manager esti coou the computers will be 1,200 units, with a constant demand rate received within minutes after placement from a local warehouse The store policy is never to have stockouts of te PCs. Th the year except Christmas Day. Determine the following: a. The optimal order quantity per order b. The minimum total annual inventory costs c. The optimal number of orders per year 1. Hayes Electronics stocks and sells a particular brand of personn estimates thas that total anmual total anm store is open for busines by th 3 The optimal time between orders (in working days)

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29. Leticia i decided to divide a second on government offices, and a third focusing on form of departmentalization is Leticia using? A) geographic B) customer C) process D) function corganizing the sales force for her wholesale office-supply busines. She in educational sales, the sales force into three groups: one specializing 30. A local bookstore uses an organizati onal structure in which authority and responsibility This company is are jointly held by the entire group rather than by a single manager. using a A sf unctional organizational structure. B) matrix C) committee D) line-and-staff 31. Malita’s company has evolved from a line structure to a line-and-staff structure. The production department would be classified as A) staff B) line C) decentralized D) matrix

EXPERT ANSWER 29. The correct option is b. Customer 30. The correct option is c. Committee 31. The correct option is b. Line

Rollins and Cohen, CPAs, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the year ending December 31, 20Y8 Billable Hours Audit Department: 35,500 Staff Partners 5,300 Tax Department Staff 26,300 3,300 Partners Small Business Accounting Department: Staff 4,300 Partners 600 Based on the data provided above and assuming that the average compensation per hour for staff is $60 and for partners is $155, prepare a professional labor cost budget for each department for Rollins and Cohen, CPAs, for the year ending December 31, 20Y8 Rollins and Cohen, CPAS Professional Labor Cost Budget For the Year Ending December 31, 20Y8 Staff Partners Audit Department hours Tax Department hours Small Business Accounting Department hours Total hours Average compensation per hour Total professional labor cost

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nt Liabilities P14.2 (LO1,3) (Issuance and Retirement of Bonds) Venzuela Co. is building a new at a cost of $2,500,000. It received a down payment of $500,000 from local busine the project and now needs to borrow $2,000,000 to complete the project. It therefore deci $2,000,000 of 10.5%, 10-year bonds. These bonds were issued on January 1, 2018, and pay interest an nually on each January 1 . The bonds yield 10%. sses to support es to issue Instructions a. Prepare the journal entry to record the issuance of the bonds on January 1, 2018. b. Prepare a bond amortization schedule up to and including January 1, 2022. c. Assume that on July 1, 2021, Venzuela Co. retires half of the bonds at a cost of $1.065.000 plus accrued interest. Prepare the journal entry to record this retirement.

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which of these expenses are deductible in 2018-19 tax year? Ellen incurred and paid the following expenses during 2018: o Business ads placed in local newspapers o Professional lability insurance premiums o Payments for bookkeeping and tax services o Legal advice regarding incorporating business o License to operate in the City of Chicago o Kickback paid to city alderman (against local law) o Supplies used in decorating busines o Train fare for travel to craft shows/holiday fairs o Hotel bills while attending craft shows/holiday fairs o Meals eaten while at craft shows/holiday fairs o Dedicated business phone line (annual) o Dedicated DSL internet line (annual) o Contribution to R. Emanuel campaign for Mayor o Craft show/holiday fair registration fees o Credit card processing fees o Christmas gifts to ten best clients @ $75 each $5,800 2,400 1,200 3,600 2,900 2,500 4,500 1,800 2,800 950 450 820V 2,000 6,750 1,650 750

EXPERT ANSWER Notes You can generally deduct premiums you pay for insurance related to your trade or business, such as insurance that covers your personal liability for professional negligence resulting in injury or damage to patients or clients. Therefore, the insurance premium paid for covering damages due to professional negligence is a deductible expense If …

which of these expenses are deductible in 2018-19 tax year? Ellen incurred and paid the following expenses during 2018: o Business ads placed in local newspapers o Professional lability insurance premiums o Payments for bookkeeping and tax services o Legal advice regarding incorporating business o License to operate in the City of Chicago o Kickback paid to city alderman (against local law) o Supplies used in decorating busines o Train fare for travel to craft shows/holiday fairs o Hotel bills while attending craft shows/holiday fairs o Meals eaten while at craft shows/holiday fairs o Dedicated business phone line (annual) o Dedicated DSL internet line (annual) o Contribution to R. Emanuel campaign for Mayor o Craft show/holiday fair registration fees o Credit card processing fees o Christmas gifts to ten best clients @ $75 each $5,800 2,400 1,200 3,600 2,900 2,500 4,500 1,800 2,800 950 450 820V 2,000 6,750 1,650 750 Read More »

Dear all, Please choose THREE Busine excellence models (e.g. international or local business excellence models) and discuss their principles, categories, criteria relevant to the construct of leadership. (less than 500 words)

EXPERT ANSWER Business excellence models are applications of structure within an organisation which focus strategy and action in a systematic manner in order to maximize performance and focus entirely on organisational goals. The models are applicable entirely over the length and breadth of the organisation and I am too optimise output in every department through …

Dear all, Please choose THREE Busine excellence models (e.g. international or local business excellence models) and discuss their principles, categories, criteria relevant to the construct of leadership. (less than 500 words) Read More »