Welcome. . Before you begin the assignment, re-read the sections of the course syllabus (see class webpage) dealing with “Written Assignments” to ensure that you understand the format (cover page plus no more than two type-written double spaced pages, content of the cover page, Code of Honor statement, etc.). You will be graded both on your response to the assignment (substance) and on having followed the directions (procedure). The issues are fairly narrow and will allow you to apply your knowledge of negotiable instruments. Verbiage will not be rewarded but the thoughtfulness and thoroughness of your response will be. Written Assignment #5: Heeding your advice, Kyle has survived his recent financial scare; has been able to raise needed capital to expand his marketing into Mississippi; and has what he considers a sound business structure and plan. Unfortunately, his confidence in handling real property matters is shaky. His expertise is in growing and marketing produce and his other products. Last year after one of the Whitehouse Rotary Club’s weekly meetings, Kyle negotiated an option to purchase Greenacre from Mae, shaking hands on the deal. Greenacre, located within the city limits of Bankston (near Fayette), would be ideal for Kyle. The land is fertile, a spring supports a small stream and marsh, and there’s enough acreage that Kyle can combine the growing, processing, and production operations on one site. Mae had acquired Greenacre 10 years ago when her father, Moe, died intestate. Mae has farmed Greenacre for several years, even before her father’s death. However, the farming operation has interfered with Mae’s duties as president of the Fayette State Bank. Mark, Mae’s brother who is a successful CPA in Birmingham, has shown little interest in Greenacre as a farm business. But when Mark hears about the impending sale of Greenacre to Kyle, he suggests that, instead of selling Greenacre, Mae should rethink her agreement with Kyle. Mark is aware of considerable growth in the retirement and tourism business in Fayette County and has even heard rumors that oil, gas, and coal deposits might be present. Not wanting to sound greedy, Mark argues that he is emotionally attached to Greenacre, not wanting to turn loose of the family home where he grew up. In his heart, Mark feels that Kyle’s business plan is not sound. Therefore, Mark proposes that Greenacre be conveyed to Kyle in fee simple defeasible with the condition that, should Kyle fail to commence his farming and processing operations on Greenacre within one year after the transfer or should Kyle in the future cease to use Greenacre as a site for his farming and processing operations, Greenacre would revert back to Moe’s heirs. Kyle knows that you are thoroughly versed in property law and land use. Since you helped him out last time, he calls, seeking your counsel. What advice do you have for Kyle; what are his options; and what issues must be addressed?To help you organize your thoughts, I suggest that you read the fact set; decide which facts are relevant and which are merely verbiage; based on the information in Unit 5, decide which legal information is relevant to the facts; then state the relevant facts, state the relevant law, and apply the law to the facts, taking the issues one at a time. WA5 is neither as difficult nor as involved as prior assignments but does have a mix of major and minor issues.

You have been hired as a managerial accountant by Mr. Smith of Wilson-West Manufacturing, a start-up company that produces several different product lines. He would like you to set up the cost accounting system for the cabinet division. Listed below are your new job requirements and at least 1 task for each. Compile a document or 1200-1500 words with the following requirements: Types of costs Explain what types of costs you       plan on using to distinguish the different types of cabinets that will be       produced. Examples should include direct        costs items, indirect costs items, as well as variable costing. What are at least 5 types of       expenses that are associated with manufacturing the cabinets? Cost accounting methods Explain how product costing is used       for a cabinet division. Give 2 examples of how you will use       product costing. Which costing method will you use       for the cabinet division: Activity-based costing (ABC), job order       costing, or process costing? Validate your answer with 2–3       reasons for and 2–3 reasons against the other types of costing.

A variety of depreciation methods are used to allocate the cost of an asset to all of the accounting periods benefited by the use of the asset.  Your client has just purchased a piece of equipment for $100,000.  Explain the concept of depreciation.  Which of the following depreciation methods would you recommend: straight-line depreciation, double declining balance method, or an alternative method? All text from the attached chapter 6 must be cited using the below referenceReferenceK Wainwright, S. (Ed.). (2012). Principles of Accounting: Volume I . San Diego, CA: Bridgepoint Education, Inc.06ch_accounting_volumei.pdf