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assume a company purchased a machine for 53,000 on jan 1.the estimated useful life is 6 years and the estimated salvage value is $2,100.calculate the depreciation expense for the first 3 years using...striaght line and ddb.
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ACCT 230, Project 1 (10 points)
Fall 2018 – Prof. Sheeley
Due November 1, 2018. Late submissions will not be accepted.
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Need assistance with homework in APA format
PJM400 MOD5 Discussion Peer ResponsesPlease reply to both POST1: and POST2: in at least 250 words. I have included referen ...
Need assistance with homework in APA format
PJM400 MOD5 Discussion Peer ResponsesPlease reply to both POST1: and POST2: in at least 250 words. I have included references and the original post only as reference. RequiredChapters 4 & 8 in Procurement, Principles & ManagementPart 1, Chapter 12, Sections 12.1.1.6, 12.2.3.1, & 12.2.3.2 in A Guide to the Project Management Body of Knowledge RecommendedAllen, M., Herring, K., Moody, J., & Williams, C. (2015). Project procurement: Impact of contract incentives and penalties. International Journal of Global Business, 8(2), 1-26.Henre, C., Satterfield, R., & Garris, J. (2016). In-depth and preemptive front-end planning yields positive project results, 95(4), 61–66.ReferencesBaily, P., Farmer, D., Crocker, B., Jessop, D., & Jones, D. (2015). Procurement, principles & management (11th ed). United Kingdom: Pearson (Intl) Inc.Larson, E. W., & Gray, C. F. (2017). Project management: The managerial process (7th ed.). New York, NY: McGraw-Hill. Project Management Institute [PMI]. (2017). A guide to the project management body of knowledge (PMBOK® Guide) (6th ed.). Newton Square, PA: PMI Publications.Original post: Consider the three contract types of Fixed-Price, Cost-Reimbursement, and Time and Material contracts in procurement management.What are the main characteristics of each of the above contracts?Compare (similarities) and contrast (differences) the distinct procurement application of each contract typePOST1:A
contract is a binding arrangement between a buyer and a seller, which is
the significant part of the buyer and seller connection as it delivers a
structure for how they will work with each other. Procurement contract
is an agreement between two or more parties to supply goods or
services. It’s important to select the right type of contract that
offers the greatest value for time and money, which can protect
companies from project from risks (Usmani, 2020). If not used
accurately, it can cost more money for a company in the end.. Below is a
list of the three different contract types in procurement.Three Contract Types and Their Main Characteristics
Fixed-Price: This is a lump-sum contract which can be
used when the scope of the work is fixed and the requests are clear.
Once the contract is signed, the seller is contractually bound to
complete the task within the agreed price and time (Usmani, 2020). This
contract cannot be re-negotiated unless the scope of the work is
altered. Here are three categories of the Fixed-Price contracts:
Firm-Fixed-Price contract (FFP) - Most frequently used, the vendor must finish the work within a settled amount of money and time.
Fixed Price Incentive Fee contract (FPIF) - This fixed-price
arrangement gives the buyer and seller some flexibility in that it
allows for deviation from performance, with financial incentives tied to
achieving agreed-upon metrics (PMI, 2017).
Fixed Price with Economic Price Adjustment Contract (FP-EPA) - This is used when multi-year since this contract has a distinct provision that protects the vendor from price increases.
Cost-Reimbursement: Also known as Cost Disbursable
contract, the vendor is refunded for finished work plus a payment
demonstrating their revenue. Most sellers are able to take advantage of
this contract when they complete the project earlier than the expected
date or when they save on expenses. Cost-reimbursement contracts are to
be used only in those instances in which there is uncertainty about
what is required to produce a product (Kim, Roberts, & Brown,
2016). Here are three categories of the Cost-Reimbursement contracts
(PMI, 2017):
Cost Plus Fixed Fee (CPFF) - The seller is reimbursed for all
allowable costs for performing the contract work and receives a
fixed-fee payment calculated as a percentage of the initial estimated
project costs.
Cost Plus Incentive Fee (CPIF) - The seller is reimbursed for all
allowable costs for performing the contract work and receives a
predetermined incentive fee based on achieving certain performance
objectives as set forth in the contract.
Cost Plus Award Fee (CPAF) - The seller is reimbursed for all
legitimate costs, but the majority of the fee is earned based on the
satisfaction of certain broad subjective performance criteria that are
defined and incorporated into the contract.
Time and Material: This is a mixture of both the
Fixed-Price and Cost Reimbursement contract, where both share the same
risks. You use a Time and Materials contract when the deliverable is
“labor hours,” where the project manager will state the required
qualifications and experience to the seller who will provide the staff
(Usmani, 2020).Compare and Contrast the Distinct Procurement Application of each ContractSimilarities: Selecting the appropriate
contract form will help ensure your company’s next project has the best
chance of success has the best chance of finishing within the project’s
budget, and serves overall company objectives while mitigating the risks
and eliminating unneeded expenses (Concord, 2020).Differences:Fixed-Price Contract: This is used when the scope of the project is fixed and the requests are clear.Cost-Reimbursement: If the scope of a project is uncertain or likely
to change, this type of contract can be best used for keeping everyone
on schedule and under budget (Concord, 2020).Time and Material: This is frequently used when the seller delivers
the work, and the risk is equally dispersed to the buyer and seller.
This type of contract is typically used to hire an expert or other
outside vendors (Concord, 2020).-VenusReferences:Concord. (2020). Contract Management 101 – Procurement Contracts.
Retrieved from
https://www.concordnow.com/blog/procurement-contra...Kim, Y. W., Roberts, A., & Brown, T. (2016). Impact of Product
Characteristics and Market Conditions on Contract Type: Use of
Fixed-Price Versus Cost-Reimbursement Contracts in the U.S. Department
of Defense. Public Performance & Management Review, 39(4), 783–813.Project Management Institute (PMI). (2017). A guide to the project management body of knowledge (PMBOK® Guide) (6th ed.). Newton Square, PA: PMI Publications.Usmani, F. (2020). Types of Procurement Contracts used in Project
Management. Retrieved from
https://pmstudycircle.com/2013/12/types-of-procure...POST2:Purchasing contracts are a legal agreement for the procurement of any goods or services that an entity may need (Allen, Herring, Moody, & Williams, 2015)
Various types of these contracts allow project owners to tailor the
agreement to meet the needs of their agreement. The agreement type that I
am most familiar with is a fixed-price contract. This is the most
suitable contract for agreements where the variables of scope are all
known and clearly identified before the agreement is made. In my case I
worked for a contractor that provided uniforms. The items were known,
the quantity was clear and communicated, and the price was proposed and
agreed upon. Another contract type that I have experience with is a
cost-reimbursement contract. This is a contract where there are agreed
perimeters but variables that don't have absolutes. Currently I work for
a UAV manufacturer that designs and manufactures many custom built
planes. For contracts that are custom or R&D based we have agreed
upon timeframes or cost ceilings, but the specifics of material or labor
can't be identified until after the fact. So operating under these
contracts out engineers will "clock -in" to a project. work on design or
build, and "clock-out" when they are done with the work. Because the
labor is an unknown variable the price is not fixed. A T&M contract
is the hybrid of these two types, very similarly to the
cost-reimbursement contract there are unidentifiable variables; however,
there are also absolutes that can be agreed upon beforehand. This is a
more specific type of contract that can be tailored to the needs of the
buyer or seller. Allen, M., Herring, K., Moody, J., & Williams, C. (2015). Project procurement: Impact of contract incentives and penalties. International Journal of Global Business, 8(2),
1-26. Retrieved from
https://csuglobal.idm.oclc.org/login?url=https://s...Project Management Institute (PMI). (2017). A guide to the project management body of knowledge (PMBOK® Guide) (6th ed.). Newton Square, PA: PMI Publications.
9 pages
The Concepts Of Operations
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The Concepts Of Operations
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Behavior in Organizations
1. Describethe elements of self-concept and explain howthey affectan individual’sbehavior andwell-being.2. Outline the ...
Behavior in Organizations
1. Describethe elements of self-concept and explain howthey affectan individual’sbehavior andwell-being.2. Outline the perceptual process and discuss the effects of categorical thinking andmental modelsin that process.3. Discuss how stereotyping, attribution, self-fulfilling prophecy, halo, false-consensus, primacy, and recency influence the perceptual process.4. Discuss three ways to improve perceptions, with specific application to organizational situations.5. Outline the main features of a global mindset and justify its usefulness to employees and organizations.
Finance Management Problems. APA
Integrated Waveguide Technologies (IWT) is a 6-year-old company founded by Hunt Jackson and David Smithfield to exploit me ...
Finance Management Problems. APA
Integrated Waveguide Technologies (IWT) is a 6-year-old company founded by Hunt Jackson and David Smithfield to exploit metamaterial plasmonic technology to develop and manufacture miniature microwave frequency directional transmitters and receivers for use in mobile Internet and communications applications. IWT’s technology, although highly advanced, is relatively inexpensive to implement, and its patented manufacturing techniques require little capital as compared to many electronics fabrication ventures. Because of the low capital requirement, Jackson and Smithfield have been able to avoid issuing new stock and thus own all of the shares. Because of the explosion in demand for its mobile Internet applications, IWT must now access outside equity capital to fund its growth, and Jackson and Smithfield have decided to take the company public. Until now, Jackson and Smithfield have paid themselves reasonable salaries but routinely reinvested all after-tax earnings in the firm, so dividend policy has not been an issue. However, before talking with potential outside investors, they must decide on a dividend policy.Your new boss at the consulting firm Flick and Associates, which has been retained to help IWT prepare for its public offering, has asked you to make a presentation to Jackson and Smithfield in which you review the theory of dividend policy and discuss the following issues.What is meant by the term “distribution policy”? How has the mix of dividend payouts and stock repurchases changed over time?The terms “irrelevance,” “dividend preference” (or “bird-in-the-hand”), and “tax effect” have been used to describe three major theories regarding the way dividend payouts affect a firm’s value. Explain these terms, and briefly describe each theory.What do the three theories indicate regarding the actions management should take with respect to dividend payouts?What results have empirical studies of the dividend theories produced? How does all this affect what we can tell managers about dividend payouts?Use at least one reference. A
Columbia Southern University Cookie Creations Case Excel Worksheet
InstructionsCookie Creations (Chapters 11 and 15)This assignment is a continuation of the Cookie Creations case study and ...
Columbia Southern University Cookie Creations Case Excel Worksheet
InstructionsCookie Creations (Chapters 11 and 15)This assignment is a continuation of the Cookie Creations case study and focuses on Cookie Creations' liabilities (current and long-term). From the information gathered from the unit lesson, required unit resources, and suggested unit resources, read the Cookie Creations case study below, which is also available on p.11-37 (Chapter 11) and p. 15-38 (Chapter 15) in the textbook.The case study allows you to apply what you have learned about liabilities and the accounting process. This assignment will allow you to practice what you have learned so far.Part IRecall that Cookie Creations sells fine European mixers that it purchases from Kzinski Supply Company. Kzinski warrants the mixers to be free of defects in material and workmanship for 1 year from the date of original purchase. If the mixer has such a defect, Kzinski will repair or replace the mixer free of charge for parts and labor. The product must be shipped prepaid to an authorized Kzinski service center. The consumer pays the cost to ship the mixer. The cost to return the product to the consumer is paid by Kzinski.The authorized service center is located in Boston. Because Cookie Creations values serving its customers, it pays the shipping to Boston for any mixers needing repair under Kzinski’s warranty terms. Based on past experience, Kzinski has found that approximately 10% of mixers are returned for repair or replacement. The average cost to ship a mixer to Boston is $60.The following transactions take place in 2020 and 2021.A total of 30 mixers are sold in 2020.Four of the mixers sold in 2020 are returned for repair in 2021. The total shipping cost for returning these four mixers to Boston is $210.A total of 40 mixers are sold in 2021.Two of the mixers sold in 2021 are returned for repair in 2021. The total shipping cost for returning these two mixers to Boston is $55.For Part I of the assignment, complete the tasks listed below using Excel.Calculate Cookie Creations’ warranty liability for the shipping costs at December 31, 2020.Record the estimated warranty liability at December 31, 2020.Prepare the summary journal entry (or entries) to record the shipment of the six mixers (four from the 2020 sales and two from the 2021 sales) for warranty repair in 2021. d.Calculate Cookie Creations’ warranty liability at December 31, 2021. (Hint: Note that there is no liability outstanding for the mixers sold in 2020. The 1-year warranty period has expired.)Record the estimated warranty liability at December 31, 2021. (Hint: Similar to accounting for bad debts, consider any existing balance in the warranty liability account when you prepare your entry. You will find it helpful to prepare a general ledger account for the warranty liability and to post the above transactions.)Part IINatalie and Curtis have been experiencing great demand for their cookies and muffins. As a result, they are now thinking about buying a commercial oven. They know which oven they want and that it will cost $17,000. The company already has $5,000 set aside for the purchase and will need to borrow the rest.Natalie and Curtis met with a bank manager to discuss their options. She is willing to lend Cookie & Coffee Creations Inc. $12,000 on November 1, 2020, for 3 years at a 5% interest rate. The terms provide for fixed principal payments of $2,000 on May 1 and November 1 of each year plus 6 months of interest.For Part II of the assignment, complete the tasks listed below.Prepare a payment schedule for the life of the note.Prepare the journal entry for the purchase of the oven and the issue of the note payable on November 1, 2020.Prepare the journal entries on May 1 and November 1 for the note.Determine the current portion of the note payable and the long-term portion of the note payable at October 31, 2021.Parts I and II should be submitted in a single Excel spreadsheet. You will use a new tab to complete each transaction for both Parts I and II for a total of nine separate tabs or sheets. Submit the Excel spreadsheet in Blackboard.
8-1 Discussion: Evolution of Organizational and Public Policy
CJ 520 8-1 Discussion: Evolution of Organizational and Public PolicyOne constant in society is change, and this applies t ...
8-1 Discussion: Evolution of Organizational and Public Policy
CJ 520 8-1 Discussion: Evolution of Organizational and Public PolicyOne constant in society is change, and this applies to public policy as well. Public policy cannot remain stagnant. It must evolve and continue to address the changing needs of the society it seeks to serve. In this discussion, you are going to examine the evolution of public policy and, based on your analysis, predict trends for policy in the future. After reviewing the textbook readings for this module as well as the additional module resources related to recent changes in departmental policy, address the following in your initial post:
What, in your mind, is the most significant public policy change in criminal justice today?
What, in your mind, caused this change?
Do you think that this change will continue into the future? Why?
When responding to your classmates’ posts, state in what ways you agree or disagree with their conclusions. If appropriate, challenge their positions and support your challenge with research, including citations from the course textbooks and any other additional resources you feel back you up.
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Need assistance with homework in APA format
PJM400 MOD5 Discussion Peer ResponsesPlease reply to both POST1: and POST2: in at least 250 words. I have included referen ...
Need assistance with homework in APA format
PJM400 MOD5 Discussion Peer ResponsesPlease reply to both POST1: and POST2: in at least 250 words. I have included references and the original post only as reference. RequiredChapters 4 & 8 in Procurement, Principles & ManagementPart 1, Chapter 12, Sections 12.1.1.6, 12.2.3.1, & 12.2.3.2 in A Guide to the Project Management Body of Knowledge RecommendedAllen, M., Herring, K., Moody, J., & Williams, C. (2015). Project procurement: Impact of contract incentives and penalties. International Journal of Global Business, 8(2), 1-26.Henre, C., Satterfield, R., & Garris, J. (2016). In-depth and preemptive front-end planning yields positive project results, 95(4), 61–66.ReferencesBaily, P., Farmer, D., Crocker, B., Jessop, D., & Jones, D. (2015). Procurement, principles & management (11th ed). United Kingdom: Pearson (Intl) Inc.Larson, E. W., & Gray, C. F. (2017). Project management: The managerial process (7th ed.). New York, NY: McGraw-Hill. Project Management Institute [PMI]. (2017). A guide to the project management body of knowledge (PMBOK® Guide) (6th ed.). Newton Square, PA: PMI Publications.Original post: Consider the three contract types of Fixed-Price, Cost-Reimbursement, and Time and Material contracts in procurement management.What are the main characteristics of each of the above contracts?Compare (similarities) and contrast (differences) the distinct procurement application of each contract typePOST1:A
contract is a binding arrangement between a buyer and a seller, which is
the significant part of the buyer and seller connection as it delivers a
structure for how they will work with each other. Procurement contract
is an agreement between two or more parties to supply goods or
services. It’s important to select the right type of contract that
offers the greatest value for time and money, which can protect
companies from project from risks (Usmani, 2020). If not used
accurately, it can cost more money for a company in the end.. Below is a
list of the three different contract types in procurement.Three Contract Types and Their Main Characteristics
Fixed-Price: This is a lump-sum contract which can be
used when the scope of the work is fixed and the requests are clear.
Once the contract is signed, the seller is contractually bound to
complete the task within the agreed price and time (Usmani, 2020). This
contract cannot be re-negotiated unless the scope of the work is
altered. Here are three categories of the Fixed-Price contracts:
Firm-Fixed-Price contract (FFP) - Most frequently used, the vendor must finish the work within a settled amount of money and time.
Fixed Price Incentive Fee contract (FPIF) - This fixed-price
arrangement gives the buyer and seller some flexibility in that it
allows for deviation from performance, with financial incentives tied to
achieving agreed-upon metrics (PMI, 2017).
Fixed Price with Economic Price Adjustment Contract (FP-EPA) - This is used when multi-year since this contract has a distinct provision that protects the vendor from price increases.
Cost-Reimbursement: Also known as Cost Disbursable
contract, the vendor is refunded for finished work plus a payment
demonstrating their revenue. Most sellers are able to take advantage of
this contract when they complete the project earlier than the expected
date or when they save on expenses. Cost-reimbursement contracts are to
be used only in those instances in which there is uncertainty about
what is required to produce a product (Kim, Roberts, & Brown,
2016). Here are three categories of the Cost-Reimbursement contracts
(PMI, 2017):
Cost Plus Fixed Fee (CPFF) - The seller is reimbursed for all
allowable costs for performing the contract work and receives a
fixed-fee payment calculated as a percentage of the initial estimated
project costs.
Cost Plus Incentive Fee (CPIF) - The seller is reimbursed for all
allowable costs for performing the contract work and receives a
predetermined incentive fee based on achieving certain performance
objectives as set forth in the contract.
Cost Plus Award Fee (CPAF) - The seller is reimbursed for all
legitimate costs, but the majority of the fee is earned based on the
satisfaction of certain broad subjective performance criteria that are
defined and incorporated into the contract.
Time and Material: This is a mixture of both the
Fixed-Price and Cost Reimbursement contract, where both share the same
risks. You use a Time and Materials contract when the deliverable is
“labor hours,” where the project manager will state the required
qualifications and experience to the seller who will provide the staff
(Usmani, 2020).Compare and Contrast the Distinct Procurement Application of each ContractSimilarities: Selecting the appropriate
contract form will help ensure your company’s next project has the best
chance of success has the best chance of finishing within the project’s
budget, and serves overall company objectives while mitigating the risks
and eliminating unneeded expenses (Concord, 2020).Differences:Fixed-Price Contract: This is used when the scope of the project is fixed and the requests are clear.Cost-Reimbursement: If the scope of a project is uncertain or likely
to change, this type of contract can be best used for keeping everyone
on schedule and under budget (Concord, 2020).Time and Material: This is frequently used when the seller delivers
the work, and the risk is equally dispersed to the buyer and seller.
This type of contract is typically used to hire an expert or other
outside vendors (Concord, 2020).-VenusReferences:Concord. (2020). Contract Management 101 – Procurement Contracts.
Retrieved from
https://www.concordnow.com/blog/procurement-contra...Kim, Y. W., Roberts, A., & Brown, T. (2016). Impact of Product
Characteristics and Market Conditions on Contract Type: Use of
Fixed-Price Versus Cost-Reimbursement Contracts in the U.S. Department
of Defense. Public Performance & Management Review, 39(4), 783–813.Project Management Institute (PMI). (2017). A guide to the project management body of knowledge (PMBOK® Guide) (6th ed.). Newton Square, PA: PMI Publications.Usmani, F. (2020). Types of Procurement Contracts used in Project
Management. Retrieved from
https://pmstudycircle.com/2013/12/types-of-procure...POST2:Purchasing contracts are a legal agreement for the procurement of any goods or services that an entity may need (Allen, Herring, Moody, & Williams, 2015)
Various types of these contracts allow project owners to tailor the
agreement to meet the needs of their agreement. The agreement type that I
am most familiar with is a fixed-price contract. This is the most
suitable contract for agreements where the variables of scope are all
known and clearly identified before the agreement is made. In my case I
worked for a contractor that provided uniforms. The items were known,
the quantity was clear and communicated, and the price was proposed and
agreed upon. Another contract type that I have experience with is a
cost-reimbursement contract. This is a contract where there are agreed
perimeters but variables that don't have absolutes. Currently I work for
a UAV manufacturer that designs and manufactures many custom built
planes. For contracts that are custom or R&D based we have agreed
upon timeframes or cost ceilings, but the specifics of material or labor
can't be identified until after the fact. So operating under these
contracts out engineers will "clock -in" to a project. work on design or
build, and "clock-out" when they are done with the work. Because the
labor is an unknown variable the price is not fixed. A T&M contract
is the hybrid of these two types, very similarly to the
cost-reimbursement contract there are unidentifiable variables; however,
there are also absolutes that can be agreed upon beforehand. This is a
more specific type of contract that can be tailored to the needs of the
buyer or seller. Allen, M., Herring, K., Moody, J., & Williams, C. (2015). Project procurement: Impact of contract incentives and penalties. International Journal of Global Business, 8(2),
1-26. Retrieved from
https://csuglobal.idm.oclc.org/login?url=https://s...Project Management Institute (PMI). (2017). A guide to the project management body of knowledge (PMBOK® Guide) (6th ed.). Newton Square, PA: PMI Publications.
9 pages
The Concepts Of Operations
The Concepts of Operations-Data collection plan and Quality improvement plan The Concepts of Operations-Data collection pl ...
The Concepts Of Operations
The Concepts of Operations-Data collection plan and Quality improvement plan The Concepts of Operations-Data collection plan and Quality improvement ...
Behavior in Organizations
1. Describethe elements of self-concept and explain howthey affectan individual’sbehavior andwell-being.2. Outline the ...
Behavior in Organizations
1. Describethe elements of self-concept and explain howthey affectan individual’sbehavior andwell-being.2. Outline the perceptual process and discuss the effects of categorical thinking andmental modelsin that process.3. Discuss how stereotyping, attribution, self-fulfilling prophecy, halo, false-consensus, primacy, and recency influence the perceptual process.4. Discuss three ways to improve perceptions, with specific application to organizational situations.5. Outline the main features of a global mindset and justify its usefulness to employees and organizations.
Finance Management Problems. APA
Integrated Waveguide Technologies (IWT) is a 6-year-old company founded by Hunt Jackson and David Smithfield to exploit me ...
Finance Management Problems. APA
Integrated Waveguide Technologies (IWT) is a 6-year-old company founded by Hunt Jackson and David Smithfield to exploit metamaterial plasmonic technology to develop and manufacture miniature microwave frequency directional transmitters and receivers for use in mobile Internet and communications applications. IWT’s technology, although highly advanced, is relatively inexpensive to implement, and its patented manufacturing techniques require little capital as compared to many electronics fabrication ventures. Because of the low capital requirement, Jackson and Smithfield have been able to avoid issuing new stock and thus own all of the shares. Because of the explosion in demand for its mobile Internet applications, IWT must now access outside equity capital to fund its growth, and Jackson and Smithfield have decided to take the company public. Until now, Jackson and Smithfield have paid themselves reasonable salaries but routinely reinvested all after-tax earnings in the firm, so dividend policy has not been an issue. However, before talking with potential outside investors, they must decide on a dividend policy.Your new boss at the consulting firm Flick and Associates, which has been retained to help IWT prepare for its public offering, has asked you to make a presentation to Jackson and Smithfield in which you review the theory of dividend policy and discuss the following issues.What is meant by the term “distribution policy”? How has the mix of dividend payouts and stock repurchases changed over time?The terms “irrelevance,” “dividend preference” (or “bird-in-the-hand”), and “tax effect” have been used to describe three major theories regarding the way dividend payouts affect a firm’s value. Explain these terms, and briefly describe each theory.What do the three theories indicate regarding the actions management should take with respect to dividend payouts?What results have empirical studies of the dividend theories produced? How does all this affect what we can tell managers about dividend payouts?Use at least one reference. A
Columbia Southern University Cookie Creations Case Excel Worksheet
InstructionsCookie Creations (Chapters 11 and 15)This assignment is a continuation of the Cookie Creations case study and ...
Columbia Southern University Cookie Creations Case Excel Worksheet
InstructionsCookie Creations (Chapters 11 and 15)This assignment is a continuation of the Cookie Creations case study and focuses on Cookie Creations' liabilities (current and long-term). From the information gathered from the unit lesson, required unit resources, and suggested unit resources, read the Cookie Creations case study below, which is also available on p.11-37 (Chapter 11) and p. 15-38 (Chapter 15) in the textbook.The case study allows you to apply what you have learned about liabilities and the accounting process. This assignment will allow you to practice what you have learned so far.Part IRecall that Cookie Creations sells fine European mixers that it purchases from Kzinski Supply Company. Kzinski warrants the mixers to be free of defects in material and workmanship for 1 year from the date of original purchase. If the mixer has such a defect, Kzinski will repair or replace the mixer free of charge for parts and labor. The product must be shipped prepaid to an authorized Kzinski service center. The consumer pays the cost to ship the mixer. The cost to return the product to the consumer is paid by Kzinski.The authorized service center is located in Boston. Because Cookie Creations values serving its customers, it pays the shipping to Boston for any mixers needing repair under Kzinski’s warranty terms. Based on past experience, Kzinski has found that approximately 10% of mixers are returned for repair or replacement. The average cost to ship a mixer to Boston is $60.The following transactions take place in 2020 and 2021.A total of 30 mixers are sold in 2020.Four of the mixers sold in 2020 are returned for repair in 2021. The total shipping cost for returning these four mixers to Boston is $210.A total of 40 mixers are sold in 2021.Two of the mixers sold in 2021 are returned for repair in 2021. The total shipping cost for returning these two mixers to Boston is $55.For Part I of the assignment, complete the tasks listed below using Excel.Calculate Cookie Creations’ warranty liability for the shipping costs at December 31, 2020.Record the estimated warranty liability at December 31, 2020.Prepare the summary journal entry (or entries) to record the shipment of the six mixers (four from the 2020 sales and two from the 2021 sales) for warranty repair in 2021. d.Calculate Cookie Creations’ warranty liability at December 31, 2021. (Hint: Note that there is no liability outstanding for the mixers sold in 2020. The 1-year warranty period has expired.)Record the estimated warranty liability at December 31, 2021. (Hint: Similar to accounting for bad debts, consider any existing balance in the warranty liability account when you prepare your entry. You will find it helpful to prepare a general ledger account for the warranty liability and to post the above transactions.)Part IINatalie and Curtis have been experiencing great demand for their cookies and muffins. As a result, they are now thinking about buying a commercial oven. They know which oven they want and that it will cost $17,000. The company already has $5,000 set aside for the purchase and will need to borrow the rest.Natalie and Curtis met with a bank manager to discuss their options. She is willing to lend Cookie & Coffee Creations Inc. $12,000 on November 1, 2020, for 3 years at a 5% interest rate. The terms provide for fixed principal payments of $2,000 on May 1 and November 1 of each year plus 6 months of interest.For Part II of the assignment, complete the tasks listed below.Prepare a payment schedule for the life of the note.Prepare the journal entry for the purchase of the oven and the issue of the note payable on November 1, 2020.Prepare the journal entries on May 1 and November 1 for the note.Determine the current portion of the note payable and the long-term portion of the note payable at October 31, 2021.Parts I and II should be submitted in a single Excel spreadsheet. You will use a new tab to complete each transaction for both Parts I and II for a total of nine separate tabs or sheets. Submit the Excel spreadsheet in Blackboard.
8-1 Discussion: Evolution of Organizational and Public Policy
CJ 520 8-1 Discussion: Evolution of Organizational and Public PolicyOne constant in society is change, and this applies t ...
8-1 Discussion: Evolution of Organizational and Public Policy
CJ 520 8-1 Discussion: Evolution of Organizational and Public PolicyOne constant in society is change, and this applies to public policy as well. Public policy cannot remain stagnant. It must evolve and continue to address the changing needs of the society it seeks to serve. In this discussion, you are going to examine the evolution of public policy and, based on your analysis, predict trends for policy in the future. After reviewing the textbook readings for this module as well as the additional module resources related to recent changes in departmental policy, address the following in your initial post:
What, in your mind, is the most significant public policy change in criminal justice today?
What, in your mind, caused this change?
Do you think that this change will continue into the future? Why?
When responding to your classmates’ posts, state in what ways you agree or disagree with their conclusions. If appropriate, challenge their positions and support your challenge with research, including citations from the course textbooks and any other additional resources you feel back you up.
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