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Activation Exercise 12-1: Forming a Partnership
Terms and Definitions
A partnership is a
. Partnerships are typically
and
Understanding the Business Transaction
To form a partnership, each partner contributes personal assets in exchange for a share of ownership in the partnership. Net income or net loss is distributed among the partners
If the partnership agreement does not provide for distribution of income and losses, then income and losses are divided equally among the partners. When a partner dies or retires,
Any property owned by the partnership is
When a partnership is dissolved, an individual partner's share of the partnership's assets is
Partners may contribute either cash or noncash assets to form a partnership. Noncash assets contributed are recorded at
Marco Polo contributed cash of $21,300 and noncash assets to a partnership. The partnership agreed to value noncash assets contributed in the formation of the partnership at market value. The
partnership also assumed a $22,830 note payable owed by Polo. Details on the noncash assets are provided below:
Coburn Company purchases equipment on January 1, 20x1 with the following information:
Book Value Market Value
Inventory
$67,110
$42,760
Equipment
$82,420
$98,940
Marco Polo's capital account will have an initial balance of $
based upon his contribution to the partnership.
Recording in the Accounting System
In forming a partnership, the investments of each partner are recorded in a single journal entry. If any liabilities are assumed by the partnership, the partnership
account(s) are
Provide the journal entry to record Marco Polo's contribution to the partnership, based on the data provide in part 2.
If an amount box does not require an entry, leave it blank.
Activation Exercise 12-2: Dividing Partnership Net Income by Services of Partners
Terms and Definitions
If there is no agreement, income and losses are
The income of a partnership is divided among the partners each period. The income or losses of the partnership are divided
divided
Understanding the Business Transaction
A partnership agreement may divide income based upon (1) salary allowances, or (2) salary allowances and interest on capital balances of each partner. The amounts of the distributions reflect differences
in partners' abilities and time devoted to the partnership.
The partnership of I.M. Withhim and H.E. Swithme earned $199,500 for its first full year. The partnership agreement provides for the following division of income:
1.
Monthly Salary Allowance
I.M. With him
$6,040
H.E. Swithme
$5,280
2. Interest of 12% on each partners January 1 Capital balance.
Capital, I.M. With him, January 1 $204,000
Capital, H.E. Swithme, January 1 $144,000
3. Remaining Net Income Divided Equally
Based on this agreement, how would annual net income of $199,500 be distributed between the partners?
I.M. Withhim
H.E. Swithme
Total
Annual salary allowance (mo. X 12) $
जी
$ $
Interest Allowance
$
A
पी
Remaining income
TA
$ $ $
A
Division of Net income
$
Recording in the Accounting System
Using the data above, prepare the journal entry for closing Income Summary and dividing net income between the partners' captial accounts.
If an amount box does not require an entry, leave it blank.
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Explanation & Answer
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Activation Exercise 12-1: Forming a Partnership
A partnership is an association of two or more persons for the purpose of carrying on a for profit
business as co-owners.
Partner...
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business intelligence Question
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business intelligence Question
Overview In today’s information age, customers have access to various digital platforms to access and share information. Customers also use these platforms to communicate with service providers, share opinions, and provide feedback. Therefore, it is important for product owners and service providers to be ready with a response plan for all communications over digital platforms. You are a regional marketing director of a theme park and responsible for designing marketing strategy for the reopening of the park. Each department is helping you with the relevant and required information. As the date of reopening of the parks gets closer, the business intelligence unit of the organization in the scenario has noticed a surge of negative opinions among consumers. This is evident not only on social media platforms but also across a host of other digital media platforms, such as the organization’s websites and other digital information sources. A major cause of concern is that the organization’s ethics are being questioned in most of these negative opinions. The business intelligence unit has sent a memo to share their concerns. The CMO has asked you to respond to this memo by creating a recommendation report. Prompt Write a recommendation report, in a memo format, to the CMO of the organization in the course scenario, describing the strategies to minimize the negative opinion from consumers. Refer to the Business Intelligence Memo to ensure adjustments and additions to the plan for stopping negative publicity. In your memo, emphasize the need for cross-functional effort alignment, crisis management, social media response methods, and CSR communications. Specifically, you must address the following criteria: Describe strategic changes in the plan to stop negative publicity. Which two steps will you take to effectively address the negative publicity related to the park re-opening?How can the organization’s sales and operations departments help address the negative publicity?How can you use marketing channels to communicate the safety measures to the customers? 2.Describe the cross-functional effort alignment. How can the organization’s sales and operations departments help address the negative publicity?How can you use marketing channels to communicate the safety measures to the customers? 3.Explain how a crisis communication plan can improve the organization’s image, when aligned with ethical practices. How would you use your public relations efforts in crisis communication?How would you use your corporate website for crisis communication? 4.Describe the social media response methods to be used in this scenario. How would you address negative comments?How would you answer the safety-related questions? 5.Describe the corporate social responsibility (CSR) communications strategy in this scenario. What are the key CSR initiatives and policies for the organization?What are the key channels of communicating the CSR initiatives? Guidelines for Submission Submit a 1- to 2-page Word document using double spacing, 12-point Times New Roman font, and one-inch margins. Sources should be cited according to APA style.
Independence University Week 2 The Facets Model of Advertising Effects Paper
Week 2 Assignment - The Facets Model of Advertising Effects
Learning Objectives Covered1. Define the ...
Independence University Week 2 The Facets Model of Advertising Effects Paper
Week 2 Assignment - The Facets Model of Advertising Effects
Learning Objectives Covered1. Define the Facets Model of Advertising EffectsBackgroundBrand CommunicationBrand Communication is how a company sends a message to consumers
about their brand. During the 2016 Summer Olympics, Nike launched an
advertising campaign focusing on the unlimited potential of both
everyday and professional athletes. According to a study by Google,
Nike’s ads were the most remembered by consumers during the Olympic
games, beating out other companies like Coca Cola, Tide, and McDonald’s.
Take a look at this video from that campaign:Nike: Unlimited You (2:58)https://www.youtube.com/watch?v=IA7ULX_V4jkLinks to an external site.
When you watched the video, what kinds of emotions did you feel? Did
it get you to think? Did it inspire you to do anything? As the campaign
title “Unlimited” implies, Nike did a great job with this campaign of
breaking through expectations and delivering thought-provoking material
that caught their audience’s attention and engaged their emotions. In
this particular video, for example, rather than sticking with familiar
motivational lines about average, or even less than average, athletes
eventually excelling at their chosen sports, they broke off from the
script and took defying expectations to a whole new level, really
driving home the idea of being unlimited.So, what kinds of factors are important to consider when spreading
the word about your brand? We can determine advertising goals and
analyze the effectiveness of brand communication using a six-factor
model called the Facets Model of Effects.Facets Model of EffectsThe Facets Model of Effects focuses on the various aspects of a
consumer’s response to the brand message in order to determine what
strategies will engage their attention. This model focuses on what the
consumers see/hear, feel, think/understand, connect with, believe, and
act/do to determine how the consumer can be effectively reached by the
brand message. Depending on the type of impact desired, different facets
of the model may be focused on more heavily in any given campaign.See/Hear – PerceptionIn order for an ad to be
successful, it needs to be noticed. Perception is the process by which
we receive information through our senses. Consumers are constantly
being bombarded by various sources of stimuli. Ads that stand out and
“break through” all of the other stimuli competing for the consumer’s
attention will leave a more lasting impression on the audience.Feel – EmotionThis facet of the model focuses on
how the brand communication affects the consumer’s wants, emotions,
mood, and feelings. Emotional responses are powerful in the way that
they can push past disinterest. By creating a positive response to the
brand, the audience is drawn in. Alternatively, emotions can be used to
create negative feelings towards a problem the brand can solve.Think/Understand – CognitionAnother strategy
that can be used for effective brand communication is creating material
that will make the consumer stop and think. Cognition refers to how the
consumer learns about and gains understanding of information.
Advertising can draw on a consumer’s thinking and understanding by
providing information about the product or sharing comparisons with
other products.Connect – AssociationAssociation often utilizes
symbolism to create a connection with the consumer, relating the brand
to some type of quality or characteristic that the intended audience
values. The result should be to transform the brand into something
unique or more special than other similar products. Products may be
advertised as something specially suited for athletes, teenagers,
traveling, or any variety of other options that may best reach the
targeted consumers.Believe – PersuasionPersuasion focuses on trying
to influence the audience to believe or do something. It can draw from
people’s motivations, outside influences, engagement with the brand, and
ultimately tries to produce conviction in the consumer. Trying to
create or change attitudes is crucial to brand communication.Act/Do – BehaviorThe act/do facet of the model
aims at trying to inspire action. This may be direct action, or an
immediate response, or more often it aims for indirect action, or a
delayed response. Creating a behavioral response from the consumer is
often the most important goal in brand communication because it drives
the consumer to invest in the brand whether that may be through sales,
advocating for the product, or engaging in social action causes.CitationsWhich TV Ads Made the Podium During the 2016 Olympics? (2016, August 23). Retrieved from https://analytics.googleblog.com/2016/08/which-tv-ads-made-podium-during-2016.htmlLinks to an external site.PromptFor this assignment, you will need to choose a brand and review one
of their recent advertising or marketing campaigns, then write a 600
word paper in proper IWG format discussing how the campaign utilized the
facets model of effects.Please follow this outline for your paper:I. Title Page1. Your name2. The Assignment name3. The course name3. The dateII. An overview of the facets model of effects 1. What are the facets model of effects?2. How do they work?3. What are size effects?4. What is one sentence that will describe each effect?III. An overview of your chosen brand1. What brand did you choose to profile?2. Why did you choose this brand?3. What advertising or marketing campaign are you writing about?4. Why did you choose this campaign?IV. The facets model effects and your chosen brand1. Which of the effects do you think is shown by this marketing campaign?2. What specific parts of the campaign make you think this effect is shown?3. Do you think the chosen effect is the most effective? Why or why not?4. Is there another effect you think they could have used? If so, what? If not, why not?V. ReferencesUse at least two outside sources for your references and citations.File Naming + Submission InstructionsSave your paper as: MAN230_Assignment2_FirstLast.docxSubmit your Word Doc for this Assignment.
Please proceed to the remaining item for week two when you are ready:Course MediaWk 2 DiscussionWk 2 AssessmentRubric
120 pt Assignment Rubric (2)
120 pt Assignment Rubric (2)
Criteria
Ratings
Pts
This criterion is linked to a Learning Outcome
IWG Formatting
Student
submission followed the Institution Writing Guidelines, if applicable,
or followed formatting requirements for assignment as directed in the
instructions.
18.0
pts
Recognizes
intellectual property in the in-text citations and reference page.
Double-spaced. 12 point font size, 1” margins (top, bottom, right,
left), Times New Roman, Arial, or Courier. Semi-structured formatting
consistent with rudimentary understanding. Title page includes student
name, course, and paper title.
0.0
pts
No Description
18.0 pts
This criterion is linked to a Learning Outcome
Mechanics
Use of
grammar, spelling, punctuation, and word choice is appropriate.
Structure is logical, concise, and consistent. Transition sentences
connect ideas/topics-sections are organized and demonstrate fluid
thought. Verb tense is consistent and appropriate.
18.0
pts
Use of
grammar, spelling, punctuation, and word choice is appropriate.
Structure is logical, concise, and consistent. Transition sentences
connect ideas/topics-sections are organized and demonstrate fluid
thought. Verb tense is consistent and appropriate.
0.0
pts
No Marks
18.0 pts
This criterion is linked to a Learning Outcome
Content
All key
elements are covered in a substantive way: paper meets page/word count
and assignment objectives are satisfactorily met. The content is
accurate and appropriate for the audience. Main point(s) is/are stated
clearly and are supported by specific details, examples, and/or
analysis. The expressed tone of the presented content is appropriate.
84.0
pts
All
key elements are covered in a substantive way: paper meets page/word
count and assignment objectives are satisfactorily met. The content is
accurate and appropriate for the audience. Main point(s) is/are stated
clearly and are supported by specific details, examples, and/or
analysis. The expressed tone of the presented content is appropriate.
0.0
pts
No Marks
84.0 pts
Total Points:
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Independence University Week 2 The Facets Model of Advertising Effects Paper
Week 2 Assignment - The Facets Model of Advertising Effects
Learning Objectives Covered1. Define the ...
Independence University Week 2 The Facets Model of Advertising Effects Paper
Week 2 Assignment - The Facets Model of Advertising Effects
Learning Objectives Covered1. Define the Facets Model of Advertising EffectsBackgroundBrand CommunicationBrand Communication is how a company sends a message to consumers
about their brand. During the 2016 Summer Olympics, Nike launched an
advertising campaign focusing on the unlimited potential of both
everyday and professional athletes. According to a study by Google,
Nike’s ads were the most remembered by consumers during the Olympic
games, beating out other companies like Coca Cola, Tide, and McDonald’s.
Take a look at this video from that campaign:Nike: Unlimited You (2:58)https://www.youtube.com/watch?v=IA7ULX_V4jkLinks to an external site.
When you watched the video, what kinds of emotions did you feel? Did
it get you to think? Did it inspire you to do anything? As the campaign
title “Unlimited” implies, Nike did a great job with this campaign of
breaking through expectations and delivering thought-provoking material
that caught their audience’s attention and engaged their emotions. In
this particular video, for example, rather than sticking with familiar
motivational lines about average, or even less than average, athletes
eventually excelling at their chosen sports, they broke off from the
script and took defying expectations to a whole new level, really
driving home the idea of being unlimited.So, what kinds of factors are important to consider when spreading
the word about your brand? We can determine advertising goals and
analyze the effectiveness of brand communication using a six-factor
model called the Facets Model of Effects.Facets Model of EffectsThe Facets Model of Effects focuses on the various aspects of a
consumer’s response to the brand message in order to determine what
strategies will engage their attention. This model focuses on what the
consumers see/hear, feel, think/understand, connect with, believe, and
act/do to determine how the consumer can be effectively reached by the
brand message. Depending on the type of impact desired, different facets
of the model may be focused on more heavily in any given campaign.See/Hear – PerceptionIn order for an ad to be
successful, it needs to be noticed. Perception is the process by which
we receive information through our senses. Consumers are constantly
being bombarded by various sources of stimuli. Ads that stand out and
“break through” all of the other stimuli competing for the consumer’s
attention will leave a more lasting impression on the audience.Feel – EmotionThis facet of the model focuses on
how the brand communication affects the consumer’s wants, emotions,
mood, and feelings. Emotional responses are powerful in the way that
they can push past disinterest. By creating a positive response to the
brand, the audience is drawn in. Alternatively, emotions can be used to
create negative feelings towards a problem the brand can solve.Think/Understand – CognitionAnother strategy
that can be used for effective brand communication is creating material
that will make the consumer stop and think. Cognition refers to how the
consumer learns about and gains understanding of information.
Advertising can draw on a consumer’s thinking and understanding by
providing information about the product or sharing comparisons with
other products.Connect – AssociationAssociation often utilizes
symbolism to create a connection with the consumer, relating the brand
to some type of quality or characteristic that the intended audience
values. The result should be to transform the brand into something
unique or more special than other similar products. Products may be
advertised as something specially suited for athletes, teenagers,
traveling, or any variety of other options that may best reach the
targeted consumers.Believe – PersuasionPersuasion focuses on trying
to influence the audience to believe or do something. It can draw from
people’s motivations, outside influences, engagement with the brand, and
ultimately tries to produce conviction in the consumer. Trying to
create or change attitudes is crucial to brand communication.Act/Do – BehaviorThe act/do facet of the model
aims at trying to inspire action. This may be direct action, or an
immediate response, or more often it aims for indirect action, or a
delayed response. Creating a behavioral response from the consumer is
often the most important goal in brand communication because it drives
the consumer to invest in the brand whether that may be through sales,
advocating for the product, or engaging in social action causes.CitationsWhich TV Ads Made the Podium During the 2016 Olympics? (2016, August 23). Retrieved from https://analytics.googleblog.com/2016/08/which-tv-ads-made-podium-during-2016.htmlLinks to an external site.PromptFor this assignment, you will need to choose a brand and review one
of their recent advertising or marketing campaigns, then write a 600
word paper in proper IWG format discussing how the campaign utilized the
facets model of effects.Please follow this outline for your paper:I. Title Page1. Your name2. The Assignment name3. The course name3. The dateII. An overview of the facets model of effects 1. What are the facets model of effects?2. How do they work?3. What are size effects?4. What is one sentence that will describe each effect?III. An overview of your chosen brand1. What brand did you choose to profile?2. Why did you choose this brand?3. What advertising or marketing campaign are you writing about?4. Why did you choose this campaign?IV. The facets model effects and your chosen brand1. Which of the effects do you think is shown by this marketing campaign?2. What specific parts of the campaign make you think this effect is shown?3. Do you think the chosen effect is the most effective? Why or why not?4. Is there another effect you think they could have used? If so, what? If not, why not?V. ReferencesUse at least two outside sources for your references and citations.File Naming + Submission InstructionsSave your paper as: MAN230_Assignment2_FirstLast.docxSubmit your Word Doc for this Assignment.
Please proceed to the remaining item for week two when you are ready:Course MediaWk 2 DiscussionWk 2 AssessmentRubric
120 pt Assignment Rubric (2)
120 pt Assignment Rubric (2)
Criteria
Ratings
Pts
This criterion is linked to a Learning Outcome
IWG Formatting
Student
submission followed the Institution Writing Guidelines, if applicable,
or followed formatting requirements for assignment as directed in the
instructions.
18.0
pts
Recognizes
intellectual property in the in-text citations and reference page.
Double-spaced. 12 point font size, 1” margins (top, bottom, right,
left), Times New Roman, Arial, or Courier. Semi-structured formatting
consistent with rudimentary understanding. Title page includes student
name, course, and paper title.
0.0
pts
No Description
18.0 pts
This criterion is linked to a Learning Outcome
Mechanics
Use of
grammar, spelling, punctuation, and word choice is appropriate.
Structure is logical, concise, and consistent. Transition sentences
connect ideas/topics-sections are organized and demonstrate fluid
thought. Verb tense is consistent and appropriate.
18.0
pts
Use of
grammar, spelling, punctuation, and word choice is appropriate.
Structure is logical, concise, and consistent. Transition sentences
connect ideas/topics-sections are organized and demonstrate fluid
thought. Verb tense is consistent and appropriate.
0.0
pts
No Marks
18.0 pts
This criterion is linked to a Learning Outcome
Content
All key
elements are covered in a substantive way: paper meets page/word count
and assignment objectives are satisfactorily met. The content is
accurate and appropriate for the audience. Main point(s) is/are stated
clearly and are supported by specific details, examples, and/or
analysis. The expressed tone of the presented content is appropriate.
84.0
pts
All
key elements are covered in a substantive way: paper meets page/word
count and assignment objectives are satisfactorily met. The content is
accurate and appropriate for the audience. Main point(s) is/are stated
clearly and are supported by specific details, examples, and/or
analysis. The expressed tone of the presented content is appropriate.
0.0
pts
No Marks
84.0 pts
Total Points:
120.0
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