ACCT 504 DEVRY Complete Class,ACCT 504 DEVRY Assignment,ACCT 504 DEVRY Course Flashcards
ACCT 504 Week 7 Course Project JCP Kohls
To Buy This material Click below link
http://www.homeworktab.com/acct-504/acct-504-week-7-course-project-jcp-kohls
ACCT 504 Week 7 Course Project JCP Kohls
To Buy This material Click below link
http://www.homeworktab.com/acct-504/acct-504-week-7-course-project-jcp-kohls
For more Assignments visit
http://www.homeworktab.com
ACCT 504 Week 6 Case Study 3 – Cash Budgeting LBJ Company
To Buy This material Click below link
http://www.homeworktab.com/acct-504/acct-504-week-6-case-study-3—cash-budgeting-lbj-company
ACCT 504 Week 6 Case Study 3 – Cash Budgeting LBJ Company
To Buy This material Click below link
http://www.homeworktab.com/acct-504/acct-504-week-6-case-study-3—cash-budgeting-lbj-company
The cash budget was covered during Week 4 when we covered TCO D and you read Chapter 7. There is also a practice case study to work on. Your Professor will provide the solution to the practice case study at the end of Week 5. This case study should be uploaded by 11:59PM Mountain time of the Sunday ending Week 6 to the Week 6 Assignment Dropbox. You are encouraged to use the Excel template file provided in Doc Sharing.
The LBJ Company has budgeted sales revenues as follows:
April May June
Credit sales $94,000 $89,500 $75,000
Cash sales 48,000 75,000 57,000
Total sales $142,000 $164,500 $132,000
Past experience indicates that 30% of the credit sales will be collected in the month of sale and the remaining 70% will be collected in the following month.
Purchases of inventory are all on credit and 40% is paid in the month of purchase and 60% in the month following purchase. Budgeted inventory purchases are $195,000 in April, $135,000 in May, and $63,000 in June.
Other budgeted cash receipts: (a) sale of plant assets for $33,000 in May, and (b) sale of new common stock for $50,000 in June. Other budgeted cash disbursements: (a) operating expenses of $15,000 each month, (b) selling and administrative expenses of $10,150 each month, (c) purchase of equipment for $19,000 cash in June, and (d) dividends of $20,000 will be paid in June.
The company has a cash balance of $20,000 at the beginning of May and wishes to maintain a minimum cash balance of $20,000 at the end of each month. An open line of credit is available at the bank and carries an annual interest rate of 10%. Assume that all borrowing is done on the first day of the month in which financing is needed and that all repayments are made on the last day of the month in which excess cash is available. Also assume that there is no outstanding financing as of May 1.
Requirements:
- Use this information to prepare a Cash Budget for the months of May and June, using the template provided in Doc Sharing.
- What are the three sections of a Cash Budget, and what is included in each section?
- Why is a Cash Budget so vital to a company?
- What are the five basic principles of cash management that a company can follow in order to improve its chances of having adequate cash?
For more Assignments visit
http://www.homeworktab.com
ACCT 504 Week 5 Case Study 2 Internal Control LJB Company
To Buy This material Click below link
http://www.homeworktab.com/acct-504/acct-504-week-5-case-study-2-internal-control-ljb-company
ACCT 504 Week 5 Case Study 2 Internal Control LJB Company
To Buy This material Click below link
http://www.homeworktab.com/acct-504/acct-504-week-5-case-study-2-internal-control-ljb-company
Case Study 2 – Internal Control- Due by Sunday of week 5
LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future. The President wants to be aware of any new regulations required of his company if they go public so he met with a colleague of yours at a local restaurant. The President of the company explained the current system of internal controls to your colleague. Your colleague has since been promoted to a tax position so she has passed on the information below so you can generate recommendations for the partner at your accounting firm to share with the President of LJB Company.
Since LJB Company is a relatively lean organization, they have a lot of faith in their long-term employees. They have one accountant who serves as Treasurer and Controller which streamlines many of their processes. In this dual role, he purchases all of the supplies and pays for these purchases. He also receives the checks and completes the monthly bank reconciliation. The accountant is so busy that the company handles petty cash a bit differently. All employees have access to the petty cash in a desk drawer and are asked to only place a note if they use any of the cash.
The accountant has recently started using pre-numbered invoices and wants to buy an indelible ink machine to print their checks. The President is waiting to hear from you if this is a necessary purchase before authorizing.
On payday, the checks are picked up by the accountant and left in his office for pick-up. Before he leaves for the weekend, he will move the checks into a safe in his office.
The President is still quite embarrassed because he had to fire one of his employees for viewing pornography on a company computer. He later found out this individual was a convicted felon who served time for molesting children. The company had a hard time getting the employee to admit it was him because the company does not assign individual passwords. The President expressed his frustration because both he and the accountant both interview and approve all of the new hires.
Required:
Based on the above information, prepare a Word document to address the following:
Inform the President of any new internal control requirements if the company decides to go public. (7 points) Advise the President of what the company is doing right (they are doing some things well) and also recommend to the President whether or not they should buy the indelible ink machine. When you advise the President, please be sure to reference the applicable internal control principle that applies. (13 points) Advise the President of what the company is doing wrong (they are definitely doing some things poorly). Please be sure to include the internal control principle that is being violated along with a recommendation for improvement. (20 points)
You must prepare a formal report for the partner to distribute to the President so no abbreviations or short-hand answers. You also must cite your references. At a minimum, your textbook should be cited.
Below is a grading rubric for this assignment.
Category
Points
Description
Understanding
10
Demonstrate a strong grasp of the problem at hand. Demonstrate understanding of how the course concepts apply to the problem.
Analysis
30
Apply original thought to solving the business problem. Apply concepts from the course material correctly toward solving the business problem.
Execution
10
Write your answer clearly and succinctly using strong organization and proper grammar. Use citations correctly.
Total
50
A quality paper will meet or exceed all of the above requirements.
Best Practices
The following are best practices in preparing this paper.
Cover Page: Include whom you prepared the paper for, who prepared it, and the date. Table of Contents: List the main ideas and sections of the paper and the pages where they are located. Illustrations should be included separately. Introduction: Use a header on your paper. This will indicate that you are introducing the paper.
The purpose of an introduction or opening is to introduce the subject and why the subject is important; preview the main ideas and the order in which they will be covered; and establish the tone of the document.
Include in the introduction a reason for the audience to read the paper. Also include an overview of what you will cover and the importance of the material. (This should include or introduce the questions you are asked to answer in each assignment.)
Body of the Report: Use a header with the name of the case study. An example is, “The Development of Hotel X: A World Class Resort.” Proceed to break out the main ideas: State the main ideas, the major points of each idea, and provide evidence. Show some type of division, such as separate, labeled sections; separate groups of paragraphs; or headers. Include the information you found during your research and investigation. Summary and Conclusion: Summarizing is similar to paraphrasing but presents the gist of the material in fewer words than the original. An effective summary identifies the main ideas and the major support points from the body of the report; minor details are left out. Summarize the benefits of the ideas and how they effect the subject. Work Cited: Use the citation format specified in the Syllabus.
For more Assignments visit
http://www.homeworktab.com
ACCT 504 Week 3 Case Study 1 Flower Landscaping Corporation
To Buy This material Click below link
http://www.homeworktab.com/acct-504/acct-504-week-3-case-study-1-flower-landscaping-corporation
ACCT 504 Week 3 Case Study 1 Flower Landscaping Corporation
To Buy This material Click below link
http://www.homeworktab.com/acct-504/acct-504-week-3-case-study-1-flower-landscaping-corporation
The Entire Case Study is due Sunday at Midnight Mountain time at the end of Week 3.
This Case Study is worth 100 points or 10% of your final course grade.
This Case Study relates to TCO’s D and E and Chapters 3 and 4.
MAKE SURE TO COMPLETE ALL REQUIREMENTS WHICH ARE LISTED BELOW.
There are 10 Sheets in the Workbook including this one.
All of the Information you need for the Project is located in this Workbook.
Requirements
Requirement 1 – Prepare the Journal Entries in the General Journal
Requirement 2 – Post Journal Entries to the General Ledger
Requirement 3 – Prepare a Trial Balance
Requirement 4 – Prepare the Adjusting Entries
Requirement 5 – Post Adjusting Entries to the General Ledger
Requirement 6 – Prepare an Adjusted Trial Balance
Requirement 7 – Prepare the Financial Statements
Requirement 8 – Prepare the Closing Entries
Requirement 9 – Post Closing Entries to the General Ledger
Requirement 10 – Prepare the Post Closing Trial Balance
Sheet in Workbook
Journal Entries General Ledger Trial Balance Adjusting Entries General Ledger Adjusted TB Financial Statements Closing Entries General Ledger Post Closing TB
Hint for success: review the Week 2 Lecture prior to starting this project.
There are also hints contained within certain cells on some of the worksheet tabs.
You can hover over the red pointer at the top right-hand corner of the cell to read the hint.
Hints are provided for the following balances:
1) The debits for the journal entries on the Journal Entries tab
2) The credits for the journal entries on the Journal Entries tab
3) The cash balance on the General Ledger tab
4) The debits for the trial balance on the Trial Balance tab
5) The credits for the trial balance on the Trial Balance tab
6) The debits for the adjusted trial balance on the Adjusted Trial Balance tab
7) The credits for the adjusted trial balance on the Adjusted Trial Balance tab
For more Assignments visit
http://www.homeworktab.com
