this is a 2 part assignment

 

 

 

you can do it like we always do. you look at it and tell me what you think and the amount.

 

 

 

i did this last sem in acct 220 using another company. if you need an idea

 

 

 

my company i am using for this assignment is Macys. http://www.sec.gov/Archives/edgar/data/794367/000119312511082813/d10k.htm

 

 

 

the prsentation is do this sunday 04/21-20.00

 

the paper is do 04/28

 

Using the data in the Option 1 Spreadsheet (linked at the bottom of the page), perform the accounting required for the elimination of each independent intercompany transaction:

1. Prepare the book calculations
2. Perform the required journal entries

Requirements:

Complete all work on the spreadsheet attached to this assignment; it will be your only deliverable.

Clearly identify the requirements being addressed. Show all calculations within the cells of an Excel spreadsheet. This means that you must use formulas and links so that the thought process can be examined. Make good use of comments to convey your thought process as well. No hard coding of solutions. Submit a single MS Excel file for grading.

Review the grading rubric, which can be accessed from the Course Information page, to understand how you will be graded on this assignment. Reach out to your instructor if you have questions about the assignment.

• Unless otherwise indicated, there is a 200 word minimum response required.
• Credible reference materials, including your course textbook(s), may be used to complete the assessment. 
  • If you have questions regarding the credibility of your reference, please contact your professor.
• APA Information
  • In-text and reference citations are required for all written responses. 
  • REQUIRED FOR UPLOADED ASSIGNMENTS ONLY:    title page, margins, header, double spacing, and hanging indentation
  • For questions concerning APA formatting, please refer to the APA Guidelines found at the Student Resources link on your Course Menu.

 

1.While working in Somalia, you schedule a meeting with a vendor who lives there. When he shows up 20 minutes after the meeting was scheduled, should you take it as a sign of incompetence or disrespect? Explain your answer using concepts from the textbook and your experiences.

 

 

 

2.List at least three types of nonverbal differences you might encounter when working with people from other cultures. Provide at least one example of how these differences might cause misunderstandings in communication.

What crime was created to deal with caretakers who wrongfully appropriated the money that came into their possession but really belongs to others?

CCC5 Because Natalie has had such a successful first few months, she is considering other opportunities to develop her business. One opportunity is to become the exclusive distributor of a line of fine European mixers. The current cost of a mixer is approximately $550, and Natalie would sell each one for $1,100. Natalie comes to you for advice on how to account for these mixers. Each appliance has a serial number and can be easily identified. Natalie asks you the following questions. 1. “Would you consider these mixers to be inventory? Or, should they be classified as supplies or equipment?” 2. “I’ve learned a little about keeping track of inventory using both the perpetual and the periodic systems of accounting for inventory. Which system do you think is better? Which one would you recommend for the type of inventory that I want to sell?” 3. “How often do I need to count inventory if I maintain it using the perpetual system? Do I need to count inventory at all?” In the end, Natalie decides to use the perpetual method of accounting for inventory, and the following transactions happen during the month of January. Jan. 4 She buys five deluxe mixers on account from Kzinski Supply Co. for $2,750, terms n/30. 6 She pays $100 freight on the January 4 purchase. 7 Natalie returns one of the mixers to Kzinski because it was damaged during shipping. Kzinski issues Cookie Creations credit for the cost of the mixer plus $20 for the cost of freight that was paid on January 6 for one mixer. 8 She collects the amount due from the neighborhood community center that was accrued at the end of December 2011. 12 She sells three deluxe mixers on account for $3,300, FOB destination, terms n/30. The mixers cost $570 each (including freight). 13 Natalie pays her cell phone bill previously accrued in the December adjusting journal entries. 14 She pays $75 of delivery charges for the three mixers that were sold on January 12. 14 She buys four deluxe mixers on account from Kzinski Supply Co. for $2,200, terms n/30. 17 Natalie is concerned that there is not enough cash available to pay for all of the mixers purchased. She issues additional common stock for $1,000. 18 She pays $80 freight on the January 14 purchase. 20 She sells two deluxe mixers for $2,200 cash. 28 Natalie issues a check to her assistant. Her assistant worked 20 hours in January and is also paid for amounts owing at December 31, 2011. Recall that Natalie’s assistant earns $8 an hour. 28 Natalie collects amounts due from customers in the January 12 transaction. 31 She pays Kzinski all amounts due. 31 Cash dividends of $750 are paid. As of January 31, the following adjusting entry data are available. 1. A count of brochures and posters reveals that none were used in January. 2. A count of baking supplies reveals that none were used in January. 3. Another month’s worth of depreciation needs to be recorded on the baking equipment bought in November. (Recall that the baking equipment has a useful life of 5 years or 60 months.) 4. One month’s worth of amortization (write-off) needs to be recorded on the website. (Recall that the website has a useful life of 2 years or 24 months.) 5. An additional month’s worth of interest on her grandmother’s loan needs to be accrued. (The interest rate is 9%.) 6. One month’s worth of insurance has expired. 7. Natalie receives her cell phone bill, $75. The bill is for services provided in January and is due February 15. (Recall that the cell phone is used only for business purposes.) 2 chapter 5 Merchandising Operations and the Multiple-Step Income Statement 8. An analysis of the unearned revenue account reveals that Natalie has not had time to teach any of these lessons this month because she has been so busy selling mixers. As a result there is no change to the unearned revenue account. Natalie hopes to book the outstanding lessons in February. 9. An inventory count of mixers at the end of January reveals that Natalie has three mixers remaining. Instructions Using the information that you have gathered and the general ledger accounts that you have prepared through Chapter 4, plus the new information above, do the following. (a) Answer Natalie’s questions. (b) Prepare and post the January 2012 transactions. (c) Prepare a trial balance. (d) Prepare and post the adjusting journal entries required. (e) Prepare an adjusted trial balance. (f) Prepare a multiple-step income statement and retained earnings statement for the month ended January 31, 2012. (g) Prepare a classified balance sheet as of January 31, 2012.