Bob Lutz opened a secretarial school called Best Secretarial Training.

a. Lutz contributed the following assets to the business:

Cash $5,700

Computers 4,300

Office Equipment 3,600

b. Found a location for his business and paid the first month’s rent, $260.

c. Paid for an advertisement announcing the opening of the school, $190.

d. Received applications from three students for a four-week secretarial

program and two students for a ten-day keyboarding course. The students will be

billed a total of $1,300.

e. Purchased supplies on credit, $330.

f. Billed the enrolled students, $1,740.

g. Purchased a second-hand computer, $480, and office equipment, $380, on credit.

h. Paid for the supplies purchased on credit in e, $330.

i. Paid cash to repair a broken computer, $40.

j. Received partial payment from students previously billed, $1,080.

k. Paid the utility bill for the current month, $90.

l. Paid an assistant one week’s salary, $440.

m. Made a cash withdrawal of $300.

Required

1. Set up the following T accounts: Cash; Accounts Receivable; Supplies; Computers; Office

Equipment; Accounts Payable; B. Lutz, Capital; B. Lutz, Withdrawals; Tuition Revenue; Salaries Expense; Utilities Expense; Rent Expense; Repair Expense; and Advertising Expense.

2. Record the transactions directly in the T accounts, using the transaction letter to identify each debit and credit.

3. Prepare a trial balance using today’s date.

4. Examine transactions f and j. What were the revenues and how much cash was received from the revenues? What business issues might you see arising from the differences in these numbers?

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Accounting conventions for business scenarios

Complete a 3-part assessment that requires you to think critically to categorize business transactions, apply knowledge about the accounting equation, and identify accounting conventions for business scenarios.

PART 1-Given below is a list of 15 business transactions. Using Part 1 of the Assessment 1 Template, indicate whether each transaction increased (+), decreased (–), or had no effect (NE) on assets, liabilities, and owner’s equity.

PART 2-Using your knowledge about the accounting equation, answer the following questions in Part 2 of the Assessment 1 Template. Be sure to show your calculations.

PART 3-Using Part 3 of the Assessment 1 Template, identify the applicable accounting convention for each of the following business scenarios. More than one convention may apply to each scenario. Explain your choices for each scenario.

Before completing the scenarios consider and describe what role ethics has throughout the accounting process and reporting to internal and external customers. Throughout your assessments ensure that you apply ethics to your decision making and reporting.

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Case study on National polls

National polls are often conducted by asking the opinions of a few thousand adults nationwide and using them to infer the opinions of all adults in the nation.  Explain who is in the sample and who is in the population for such polls.  Please use a poll from a newspaper, TV, a magazine, or from the Internet  (Chapter 8).

Please respond to my discussion question by clicking on the Reply button after this section.  When you reply to another student’s comments, click on Reply after their comments.

EXAMPLE:
Hello!  I saw a poll on TV the other day.  It was a simple poll of favorability of our current president.  His numbers went down from the previous poll of 54% favorable and 47% unfavorable to 48% favorable and 52% unfavorable.  The population is all people in the U.S. of voting age and the sample was probably 1000 people in a major city in the United States.

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Employee and Owner Tax Benefits

A business owner comes into your office and asks for guidance as to the best way to maximize tax deductions for the company and the employees.
Explain the tax deferral concepts and the impact on the business, the employee, and potential tax consequences on both. Please be specific with your recommendations.

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The population of New York City

The population of New York City, doubles the workday. At the end of the population by the population in New York City people rush hour, and half. What would be the population at the morning rush 3 leave the city for home rush for hours instead of 3? People if the decay rate continues same hour growth rate continued population rate into the city. What would be the end of the day when everyone goes home? The

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There will be 4 Group Discussion Board Forums throughout the course. The purpose of Discussion Board Forums is to generate interaction among students in regard to relevant current course topics. You are required to post 1 thread of at least 500 words, and you must post 1 reply of at least 250 words. For each thread, you must support your assertions with at least 2 citations other than the textbook, and the Bible may be 1 of those sources. Everything must be in current APA format.Outside research for the replies is encouraged but not required. All research must include an in-text citation to give credit to the source of the information.

Submit each thread by 11:59 p.m. (ET) on Thursday of the assigned module/week, and submit your reply by 11:59 p.m. (ET) on Monday of the same module/week.

Question:

How does cost accounting differ from financial accounting and how, if at all, does the difference impact the ethics involved in serving in either role? How would you relate biblical principles to this question?

Group Discussion Board Forum Grading Rubric

Case study on regression equation

Choose one of the following three questions and post your answer:

1.  In your own words, what is meant by the statement that correlation does not imply causality (Section 10-2)?
2.  In your own words, please describe the difference between the regression equation  and the regression equation  (Section 10-3).
3.  A geneticist wants to develop a method for predicting the eye color of a baby, given the eye color of each parent.  In your own words, can the methods of Section 10-5 be used?  Why or why not?

Please respond to my discussion question by clicking on the Reply button after this section.  When you reply to another student’s comments, click on Reply after their comments.

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Case study on Business Audit

Consider and discuss the specific risks and nature of the company you will be auditing and create comprehensive work programs for the  Payroll accounts and cycles.

Submit a 700- to 1,050-word document that includes the following:

• Audit steps for tests of controls, balances, transactions, analytical procedures, etc. as well as other considerations such as sample size and sample methodology.
• A brief summary page should be included in this document, 525 to 700 words, for each of the work programs. Include in this summary specific financial information gleaned from the current Form 10-K used to perform an analysis of work program steps. For example, if the team noted significant swings in the Inventory balance year-over-year, identify these swings and how you address them in your work program (this is in essence an audit procedure – analytical review).

*** the team leader wants each member contributes 140-210 words for the body which includes the audit steps and then 500 words at least for the summary of the Payroll accounts and cycles Of Apple, Inc.

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Case study on Trading securities

FASB ASC 320 requires companies to assign their portfolio of investment securities into:

• Trading securities.
• Securities available for sale.
• Held-to-maturity securities.

Write a response of 1,000 to 1,200 words in which you answer the following:

• Define each of these categories of securities and discuss the accounting treatment for each category.
• Discuss how companies are required to assign each category of securities into its current and noncurrent portions.
• Discuss the arguments for each position. Some individuals maintain that the only proper accounting treatment for all marketable securities is current value. Others maintain that this treatment might allow companies to “manage earnings”.Place your order now for a similar paper and have exceptional work written by our team of experts to guarantee you A Results

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Case study on compensation package

Scenario:

Client X offers a generous employee compensation package that includes employee stock options. The exercise price has always been equal to the market price of the stock at the date of grant. The corporate controller, John Jones, believes that employee stock options, like all obligations to issue the corporation’s own stock, are equity. The new staff accountant, Marcy Means, disagrees. Marcy argues that when a company issues stock for less than current value, the value of preexisting stockholders’ shares is diluted.

Pretend you are hired to debate the issue of the proper treatment of options written on a company’s own stock.

Write a team paper response of 150 to 200 words in which you address the following requirements:

1. Describe how Client X should account for its employee stock option plan under existing GAAP.Place your order now for a similar paper and have exceptional work written by our team of experts to guarantee you A Results

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