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BBA2201 Columbia Southern Unit 1 Financial Accounting Questions

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QUESTION 1 1. GAAP refers to guidelines for accounting information in the United States. The acronym GAAP in this statement refers to __________. Globally Accepted Accounting Policies Government Approved Accounting Principles Generally Accredited Accounting Policies Generally Accepted Accounting Principles 5 points QUESTION 2 1. Which of the following organizations is responsible for the creation and governance of accounting standards in the United States? Financial Accounting Standards Board Institute of Management Accountants American Institute of Certified Public Accountants Securities and Exchange Commission 5 points QUESTION 3 1. Dynamic Production Services started the year with total assets of $130,000 and total liabilities of $50,000. The company is a sole proprietorship. The revenues and the expenses for the year amounted to $100,000 and $60,000, respectively. During the year, there were no new capital contributions, and the owner withdrew $45,000. Calculate Dynamic's net income for the year. $40,000=100,000-60,000 $100,000 $60,000 $130,000 5 points QUESTION 4 1. Hollywood Talent Services is a sole proprietorship operated by Phil Morris. The net income of Hollywood Talent Services is $23,000 for the year. The beginning and ending Morris, Capital account was $33,000 and $50,000, respectively. During the year, there were no new capital contributions. Calculate the amount of the owner's withdrawals for the year. $16,000 $6,000 = 23000+33000-50000 $10,000 $9,000 5 ...
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PJM400 MOD6 Discussion Forum. Required Chapters 13, 18, & 19 in Procurement, Principles & Management Rec ...

Assitance needed in answering questions

PJM400 MOD6 Discussion Forum. Required Chapters 13, 18, & 19 in Procurement, Principles & Management Recommended Bellec, M., & Cottard, O. (2016). Contract manager: A new project team member? Paper presented at PMI® Global Congress 2016—EMEA, Barcelona, Spain. Newtown Square, PA: Project Management Institute. Humphreys, G. (2015). E-procurement in support of universal health coverage. Bulletin of the World Health Organization, 93(3), 138–139. Stanczyk, A., Foerstl, K., Busse, C., & Blome, C. (2015). Global sourcing decision-making processes: Politics, intuition, and procedural rationality. Journal of Business Logistics, 36(2), 160–181. References Baily, P., Farmer, D., Crocker, B., Jessop, D., & Jones, D. (2015). Procurement, principles & management (11th ed.). United Kingdom: Pearson (Intl) Inc. Review the PMBOK® Guide (PMI, 2017), Part 1, Section 12.3.1.7 regarding Control Procurement Process. Discuss the Enterprise Environmental Factors (EEF) that can influence the Control Procurement process. Provide an example of a marketplace condition scenario that might impact a procurement project.

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University of Maryland Global Campus Using Inverted Pyramid Style Discussion

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Walmart And Macys Analyiss

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Troy University Various Reporting Situations Essay

Various Reporting Situations[CLOs: 1, 2, 5]Assume that Stanford CPAs encountered the following issues during various audit ...

Troy University Various Reporting Situations Essay

Various Reporting Situations[CLOs: 1, 2, 5]Assume that Stanford CPAs encountered the following issues during various audit engagements in 2020:Stanford conducted the audit of Luck, a new client this past year. Last year, Luck was audited by another CPA, who issued an unmodified opinion on its financial statements. Luck is presenting financial statements for 2019 and 2020 in comparative form.One of Stanford’s clients is RealCo, a real estate holding company. Assume that RealCo experienced a significant decline in the value of its investment properties during the past year because of the downturn in the economy and has appropriately recognized that decline in market value under GAAP. Stanford wished to emphasize the decline in the economy and its impact on RealCo’s financial position and results of operations for 2020 in its audit report.For the past five years, Stanford has conducted the audits of TechTime, a company that provides technology consulting services, and has always issued unmodified opinions on its financial statements. Based on its 2020 audit, Stanford believes that an unmodified opinion is appropriate; however, Stanford did note that TechTime reported its third consecutive operating loss and has experienced negative cash flows because of the inability of some of its customers to promptly pay for services received.Stanford has assisted Cardinal Inc. with the preparation of its financial statements but has not audited, compiled, or reviewed those financial statements. Cardinal wished to include these financial statements in a communication that would describe Stanford’s involvement in the preparation of the financial statements. Stanford believes that Cardinal’s communication is adequate and appropriately describes Stanford’s limited role in the preparation of the financial statements.Trees Inc. presents summary financial information along with its financial statements. The summary financial information has been derived from the complete set of financial statements that Stanford has audited (and issued an unmodified opinion on the complete financial statements). A lender has engaged Stanford to evaluate and report on Trees’ summary financial information. Stanford believes that summary financial information is fairly stated in relation to Trees’ complete financial statements.Stanford believes that some of the verbiage in Plunkett’s Management Discussion & Analysis section is inconsistent with the firm’s financial statements. Stanford has concluded that Plunkett’s financial statements present its financial position, results of operations, and cash flows in accordance with GAAP and has decided to issue an unmodified opinion on Plunkett’s financial statements.Oil Patch is a client in the energy industry that is required to present supplementary oil and gas reserve information. Stanford has performed certain procedures regarding this information and concluded that it is presented in accordance with the Financial Accounting Standards Board (FASB) presentation guidelines and does not appear to depart from GAAP. Based on the audit, Stanford plans to issue an unmodified opinion on Oil Patch’s financial statements.Required: How would each of these issues affect Stanford’s report on the client financial statements? Do not draft the report that Stanford would issue for each situation. Be sure to answer each situation separately.

University of the Cumberlands Legal Ethics and Social Environment Paper

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University of the Cumberlands Legal Ethics and Social Environment Paper

Question I - At the end of a long day, Sabrina, a cashier for a supermarket is counting the paper money. One of the bills falls from the cash register into the bottom of Sabrina’s purse. What elements of embezzlement are present in this situation? Should Sabrina be convicted of embezzlement? Why or why not?Question II - Fort Thomas Living is a small publishing company located in the Northern Kentucky. Recently, Fort Thomas Living has contracted with several different local writers to publish various magazines and short-story books. Once such transaction involves an exchange of $10,200. Another transaction involves an exchange of $9,600? Are both of these exchanges of money subject to the disclosure requirements of the Money Laundering Control Act?

Harrisburg University Louisiana Raising Canes in Midland Texas Project Paper

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Harrisburg University Louisiana Raising Canes in Midland Texas Project Paper

Task 1Discuss the various defenses in contract formation, stating what is required to establish each individual defense, and providing examples of when the defense may be found valid.Sly Salesperson sells cars. While selling a car, Sly Salesperson tells the potential buyer that “this is the best car around. It’s a great car and sips gas.” The car has an average fuel rating. Has Sly Salesperson committed a misrepresentation? Fraud? Why or why not? Does the analysis change if Sly Salesperson says the car get 40 miles per gallon, but in fact the car only gets 30 miles per gallon? Claire is severely injured in a car accident. The local hospital cannot treat Claire’s injuries. In order to survive, Claire must be flown via Helicopter to a hospital in a bordering state. Prior to boarding the helicopter, Claire signs a contract obligating her to pay for the helicopter flight and all of its expenses. Claire lives and fully recovers. However, she is being sued by the helicopter company in the amount of $50,000 for the helicopter transportation and its accompanying expenses. What is argument Claire could make in order to rescind the agreement? Does it matter that the helicopter company performed its obligation under the contract?Sheila Seller and Bobby Buyer enter into a contract where Bobby agrees to buy widgets for $0.10/unit at 500 units per shipment. The contract states that there shall be a minimum of 6 shipments between the parties. Bobby’s payments are late on the first 3 shipments, and Bobby does not make the payment on the 4th shipment. In the parties’ contract is a liquidation clause, which states that if either side is unable to perform his or her duties under the contract, then the other party shall receive damages in the amount of $100,000. Should the court enforce this liquidated damages clause?Task 1(400 words)Question 1.1. Identify a major public infrastructure project that is either underway, complete, or proposed in your region. This could be a bridge, road, building, or something of that nature. For the project you have identified, think of as many stakeholders and stakeholder groups as you can. Create a three-column table. In column 1, list the stakeholders. In column 2, list what each stakeholder wants to get from the project. In column 3, list the influence each stakeholder has over the project.Question 2. 2. How can the stakeholders change over the course of a project? Give examples of changes in who the stakeholders are, and also in how their interests or influence over the project might change throughout the term of the project.

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PJM400 MOD6 Discussion Forum. Required Chapters 13, 18, & 19 in Procurement, Principles & Management Rec ...

Assitance needed in answering questions

PJM400 MOD6 Discussion Forum. Required Chapters 13, 18, & 19 in Procurement, Principles & Management Recommended Bellec, M., & Cottard, O. (2016). Contract manager: A new project team member? Paper presented at PMI® Global Congress 2016—EMEA, Barcelona, Spain. Newtown Square, PA: Project Management Institute. Humphreys, G. (2015). E-procurement in support of universal health coverage. Bulletin of the World Health Organization, 93(3), 138–139. Stanczyk, A., Foerstl, K., Busse, C., & Blome, C. (2015). Global sourcing decision-making processes: Politics, intuition, and procedural rationality. Journal of Business Logistics, 36(2), 160–181. References Baily, P., Farmer, D., Crocker, B., Jessop, D., & Jones, D. (2015). Procurement, principles & management (11th ed.). United Kingdom: Pearson (Intl) Inc. Review the PMBOK® Guide (PMI, 2017), Part 1, Section 12.3.1.7 regarding Control Procurement Process. Discuss the Enterprise Environmental Factors (EEF) that can influence the Control Procurement process. Provide an example of a marketplace condition scenario that might impact a procurement project.

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Walmart And Macys Analyiss

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Various Reporting Situations[CLOs: 1, 2, 5]Assume that Stanford CPAs encountered the following issues during various audit ...

Troy University Various Reporting Situations Essay

Various Reporting Situations[CLOs: 1, 2, 5]Assume that Stanford CPAs encountered the following issues during various audit engagements in 2020:Stanford conducted the audit of Luck, a new client this past year. Last year, Luck was audited by another CPA, who issued an unmodified opinion on its financial statements. Luck is presenting financial statements for 2019 and 2020 in comparative form.One of Stanford’s clients is RealCo, a real estate holding company. Assume that RealCo experienced a significant decline in the value of its investment properties during the past year because of the downturn in the economy and has appropriately recognized that decline in market value under GAAP. Stanford wished to emphasize the decline in the economy and its impact on RealCo’s financial position and results of operations for 2020 in its audit report.For the past five years, Stanford has conducted the audits of TechTime, a company that provides technology consulting services, and has always issued unmodified opinions on its financial statements. Based on its 2020 audit, Stanford believes that an unmodified opinion is appropriate; however, Stanford did note that TechTime reported its third consecutive operating loss and has experienced negative cash flows because of the inability of some of its customers to promptly pay for services received.Stanford has assisted Cardinal Inc. with the preparation of its financial statements but has not audited, compiled, or reviewed those financial statements. Cardinal wished to include these financial statements in a communication that would describe Stanford’s involvement in the preparation of the financial statements. Stanford believes that Cardinal’s communication is adequate and appropriately describes Stanford’s limited role in the preparation of the financial statements.Trees Inc. presents summary financial information along with its financial statements. The summary financial information has been derived from the complete set of financial statements that Stanford has audited (and issued an unmodified opinion on the complete financial statements). A lender has engaged Stanford to evaluate and report on Trees’ summary financial information. Stanford believes that summary financial information is fairly stated in relation to Trees’ complete financial statements.Stanford believes that some of the verbiage in Plunkett’s Management Discussion & Analysis section is inconsistent with the firm’s financial statements. Stanford has concluded that Plunkett’s financial statements present its financial position, results of operations, and cash flows in accordance with GAAP and has decided to issue an unmodified opinion on Plunkett’s financial statements.Oil Patch is a client in the energy industry that is required to present supplementary oil and gas reserve information. Stanford has performed certain procedures regarding this information and concluded that it is presented in accordance with the Financial Accounting Standards Board (FASB) presentation guidelines and does not appear to depart from GAAP. Based on the audit, Stanford plans to issue an unmodified opinion on Oil Patch’s financial statements.Required: How would each of these issues affect Stanford’s report on the client financial statements? Do not draft the report that Stanford would issue for each situation. Be sure to answer each situation separately.

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Question I - At the end of a long day, Sabrina, a cashier for a supermarket is counting the paper money. One of the bills ...

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Question I - At the end of a long day, Sabrina, a cashier for a supermarket is counting the paper money. One of the bills falls from the cash register into the bottom of Sabrina’s purse. What elements of embezzlement are present in this situation? Should Sabrina be convicted of embezzlement? Why or why not?Question II - Fort Thomas Living is a small publishing company located in the Northern Kentucky. Recently, Fort Thomas Living has contracted with several different local writers to publish various magazines and short-story books. Once such transaction involves an exchange of $10,200. Another transaction involves an exchange of $9,600? Are both of these exchanges of money subject to the disclosure requirements of the Money Laundering Control Act?

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Task 1Discuss the various defenses in contract formation, stating what is required to establish each individual defense, and providing examples of when the defense may be found valid.Sly Salesperson sells cars. While selling a car, Sly Salesperson tells the potential buyer that “this is the best car around. It’s a great car and sips gas.” The car has an average fuel rating. Has Sly Salesperson committed a misrepresentation? Fraud? Why or why not? Does the analysis change if Sly Salesperson says the car get 40 miles per gallon, but in fact the car only gets 30 miles per gallon? Claire is severely injured in a car accident. The local hospital cannot treat Claire’s injuries. In order to survive, Claire must be flown via Helicopter to a hospital in a bordering state. Prior to boarding the helicopter, Claire signs a contract obligating her to pay for the helicopter flight and all of its expenses. Claire lives and fully recovers. However, she is being sued by the helicopter company in the amount of $50,000 for the helicopter transportation and its accompanying expenses. What is argument Claire could make in order to rescind the agreement? Does it matter that the helicopter company performed its obligation under the contract?Sheila Seller and Bobby Buyer enter into a contract where Bobby agrees to buy widgets for $0.10/unit at 500 units per shipment. The contract states that there shall be a minimum of 6 shipments between the parties. Bobby’s payments are late on the first 3 shipments, and Bobby does not make the payment on the 4th shipment. In the parties’ contract is a liquidation clause, which states that if either side is unable to perform his or her duties under the contract, then the other party shall receive damages in the amount of $100,000. Should the court enforce this liquidated damages clause?Task 1(400 words)Question 1.1. Identify a major public infrastructure project that is either underway, complete, or proposed in your region. This could be a bridge, road, building, or something of that nature. For the project you have identified, think of as many stakeholders and stakeholder groups as you can. Create a three-column table. In column 1, list the stakeholders. In column 2, list what each stakeholder wants to get from the project. In column 3, list the influence each stakeholder has over the project.Question 2. 2. How can the stakeholders change over the course of a project? Give examples of changes in who the stakeholders are, and also in how their interests or influence over the project might change throughout the term of the project.