The following events occurred in October:
October 1: The business owner used $25,000 from their personal savings account to buy common stock in their company.
October 1: Purchased $8,500 worth of baking supplies from vendor, on account.
October 3: The company borrowed $10,000 in cash, in exchange for a two-year, 6% note payable. Interest and the principal are repayable at maturity.
October 7: Entered into a lease agreement for bakery space. The agreement is for one year. The rent is $1,500 per month; the last month’s rent payment of $1,500 is required at the time of the lease agreement. The payment was made in cash. Lease period is effective October 1 of this year through September 30 of the next.
October 10: Paid $375 to the county for a business license.
October 11: Purchased a cash register for $250 (deemed to be not material enough to qualify as depreciable equipment).
October 13: The owner has baking equipment, including an oven and mixer, which they have been using for their home-based business and will now start using in the bakery. You estimate that the equipment is currently worth $5,000, and you transfer the equipment into the business in exchange for additional common stock. The equipment has a five-year useful life.
October 13: Paid $200 for business cards and flyers to use for advertising.
October 14: Paid $300 for office supplies.
October 15: Hired a part-time helper to be paid $12 per hour. One pay period is the first of the month through the fifteenth, and the other is the sixteenth through the end of the month. Paydays are the twentieth for the first pay period and the fifth of the following month for the second pay period. (No entry required on this date—for informational purposes only.)
October 30: Received telephone bill for October in amount of $75. Payment is due on November 10.
October 31: Paid $1,200 for a 12-month insurance policy. Policy effective dates are November 1 through October 31.
October 31: Accrued wages earned for employee for period of October 16 through October 31. (See Wage Calculation Data table at the end of this document.)
October 31: Total October bakery sales were $15,000 ($5,000 of these sales on accounts receivable).
The following events occurred in November:
November 5: Paid employee for period ending October 31.
November 8: Received payments from customers toward accounts receivable in amount of $3,800.
November 10: Paid October telephone bill.
November 15: Purchased additional baking supplies in amount of $5,000 from vendor, on account.
November 15: Accrued wages earned for employee from period of November 1 through November 15. (See Wage Calculation Data table at the end of this document.)
November 15: Paid rent on bakery space.
November 18: Received payments from customers toward accounts receivable in amount of $1,000.
November 20: Paid $8,500 toward baking supplies vendor payable.
November 20: Paid employee for period ending November 15.
November 22: Purchased $300 in office supplies.
November 30: Received telephone bill for November in amount of $75. Payment is due on December 10.
November 30: Accrued wages earned for employee for period of November 16 through November 30. (See Wage Calculation Data table at the end of this document.)
November 30: November bakery sales total was $20,000 ($7,500 of this total on accounts receivable).
Many customers have been asking for more allergy-friendly products, so in December the bakery started carrying a line of gluten-free products on a trial basis. The information below relates to the purchase and sales of the new products.
Use the perpetual inventory method with the FIFO valuation method. Please see the “Inventory Valuation” tab in your workbook for purchase and sales information.
The following events occurred in December:
December 1: Paid dividends to self in amount of $10,000.
December 5: Paid employee for period ending November 30.
December 7: Purchased merchandise for resale. See the “Inventory Valuation” tab for details.
December 8: Received payments from customers toward accounts receivable in amount of $4,000.
December 10: Paid November telephone bill.
December 11: Purchased baking supplies in amount of $7,000 from vendor on account.
December 13: Paid on supplies vendor account in amount of $5,000.
December 15: Accrued employee wages for period of December 1 through December 15.
December 15: Paid rent on bakery space $1,500.
December 15: Recorded merchandise sales transaction. See the “Inventory Valuation” tab for details.
December 15: Recorded impact of sales transaction on COGS and the inventory asset. See the “Inventory Valuation” tab for details.
December 20: Paid employee for period ending December 15.
December 20: Purchased merchandise inventory for resale to customers. See the “Inventory Valuation” tab for details.
December 24: Recorded sales of merchandise to customers. See the “Inventory Valuation” tab for details.
December 24: Recorded impact of sales transaction on COGS and the inventory asset. See the “Inventory Valuation” tab for details.
December 30: Purchased merchandise inventory for resale to customers. See the “Inventory Valuation” tab for details.
December 31: Accrued employee wages for period of December 16 through December 31.
December 31: Total December bakery sales were $25,000 ($6,000 of these sales on accounts receivable).
On December 31, the following adjustments must be made:
Depreciation of baking equipment transferred to company on October 13. Assume half month of depreciation in October using the straight-line method. Assume no salvage value.
Accrue interest for note payable. Assume a full month of interest for October. (6% annual interest on $10,000 loan)
Record insurance used for the year.
Actual baking supplies on hand as of December 31 are $1,100.
Office supplies on hand as of December 31 are $50.
Wage Calculation Data
Month
Hours
Rate
Pay
31-Oct
10
12
120
15-Nov
40
12
480
30-Nov
35
12
420
15-Dec
38
12
456
31-Dec
40
12
480[supanova_question]
College of Administrative and Financial Sciences Assignment 2 Deadline: 20/11/2021 @ 23:59
College of Administrative and Financial Sciences
Assignment 2
Deadline: 20/11/2021 @ 23:59
Course Name: Introduction to International Business
Student’s Name:
Course Code: MGT-321
Student’s ID Number:
Semester: I
CRN:
Academic Year: 1442/1443 H
For Instructor’s Use only
Instructor’s Name:
Students’ Grade: Marks Obtained/Out of
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY
The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
Assignments submitted through email will not be accepted.
Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
Students must mention question number clearly in their answer.
Late submission will NOT be accepted.
Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
Submissions without this cover page will NOT be accepted.
Assignment Regulation:
All students are encouraged to use their own word.
Assignment -2 should be submitted on or before the end of Week-11 in Black Board only.
This assignment is an individual assignment.
Citing of references is also necessary.
Assignment Structure:
A.No
Type
Marks
Assignment-2
Critical Thinking
5
Total
5
Learning Outcomes:
Discuss the reasons for and methods of governments’ intervention in trade (Lo 1.2)
Identify and evaluate the significant trade agreements affecting global commerce (Lo 1.1)
Carry out effective self-evaluation through discussing economic systems in the international business context (Lo. 3.1)
Critical Thinking
Read the Management Focus on, “NAFTA’s Tomato Wars,” available in your e-book (page no. 620), and answer the following questions:
Assignment Question(s): (Marks: 5)
Do you think that Mexican producers were dumping tomatoes in the United States? Discuss.
(mark:1)
Was the Commerce Department right to establish a new minimum floor price rather than scrap the agreement and file an antidumping suit? Who would have benefited from an antidumping suit against Mexican tomato producers? Who would have suffered? (marks:3)
What do you think is the optimal government policy response here? Explain your answer. (mark:1)
Answer:
1.
2.
3.
&&&&[supanova_question]
College of Administrative and Financial Sciences Assignment 2 Deadline: 20/11/2021 @ 23:59
College of Administrative and Financial Sciences
Assignment 2
Deadline: 20/11/2021 @ 23:59
Course Name: Introduction to International Business
Student’s Name:
Course Code: MGT-321
Student’s ID Number:
Semester: I
CRN:
Academic Year: 1442/1443 H
For Instructor’s Use only
Instructor’s Name:
Students’ Grade: Marks Obtained/Out of
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY
The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
Assignments submitted through email will not be accepted.
Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
Students must mention question number clearly in their answer.
Late submission will NOT be accepted.
Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
Submissions without this cover page will NOT be accepted.
Assignment Regulation:
All students are encouraged to use their own word.
Assignment -2 should be submitted on or before the end of Week-11 in Black Board only.
This assignment is an individual assignment.
Citing of references is also necessary.
Assignment Structure:
A.No
Type
Marks
Assignment-2
Critical Thinking
5
Total
5
Learning Outcomes:
Discuss the reasons for and methods of governments’ intervention in trade (Lo 1.2)
Identify and evaluate the significant trade agreements affecting global commerce (Lo 1.1)
Carry out effective self-evaluation through discussing economic systems in the international business context (Lo. 3.1)
Critical Thinking
Read the Management Focus on, “NAFTA’s Tomato Wars,” available in your e-book (page no. 620), and answer the following questions:
Assignment Question(s): (Marks: 5)
Do you think that Mexican producers were dumping tomatoes in the United States? Discuss.
(mark:1)
Was the Commerce Department right to establish a new minimum floor price rather than scrap the agreement and file an antidumping suit? Who would have benefited from an antidumping suit against Mexican tomato producers? Who would have suffered? (marks:3)
What do you think is the optimal government policy response here? Explain your answer. (mark:1)
Answer:
1.
2.
3.
&&&&[supanova_question]
HLSC 710 Discussion Assignment Instructions You will complete 8 Discussions in this
Writing Assignment Help HLSC 710
Discussion Assignment Instructions
You will complete 8 Discussions in this course. You will post one thread of at least 450 words by 11:59 p.m. (ET) on Thursday of the assigned Module: Week. You must then post 2 replies of at least 200 words by 11:59 p.m. (ET) on Sunday of the assigned Module: Week. For Module 8: Week 8, submit your replies by 11:59 p.m. (ET) on Friday. For each thread, you must support their assertions with at least 2 scholarly citations in APA format. Each reply must incorporate at least 2 scholarly citations in APA format. Acceptable sources include the textbook, peer-reviewed journal articles, government sources, professional association websites, etc. Each original discussion will also require a biblical reference/quote (which is not a part of the original source count). [supanova_question]
HLSC 710 Discussion Assignment Instructions You will complete 8 Discussions in this
HLSC 710
Discussion Assignment Instructions
You will complete 8 Discussions in this course. You will post one thread of at least 450 words by 11:59 p.m. (ET) on Thursday of the assigned Module: Week. You must then post 2 replies of at least 200 words by 11:59 p.m. (ET) on Sunday of the assigned Module: Week. For Module 8: Week 8, submit your replies by 11:59 p.m. (ET) on Friday. For each thread, you must support their assertions with at least 2 scholarly citations in APA format. Each reply must incorporate at least 2 scholarly citations in APA format. Acceptable sources include the textbook, peer-reviewed journal articles, government sources, professional association websites, etc. Each original discussion will also require a biblical reference/quote (which is not a part of the original source count).[supanova_question]
College of Administrative and Financial Sciences Assignment 2 Deadline: 20/11/2021 @ 23:59
College of Administrative and Financial Sciences
Assignment 2
Deadline: 20/11/2021 @ 23:59
Course Name: Introduction to International Business
Student’s Name:
Course Code: MGT-321
Student’s ID Number:
Semester: I
CRN:
Academic Year: 1442/1443 H
For Instructor’s Use only
Instructor’s Name:
Students’ Grade: Marks Obtained/Out of
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY
The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
Assignments submitted through email will not be accepted.
Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
Students must mention question number clearly in their answer.
Late submission will NOT be accepted.
Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
Submissions without this cover page will NOT be accepted.
Assignment Regulation:
All students are encouraged to use their own word.
Assignment -2 should be submitted on or before the end of Week-11 in Black Board only.
This assignment is an individual assignment.
Citing of references is also necessary.
Assignment Structure:
A.No
Type
Marks
Assignment-2
Critical Thinking
5
Total
5
Learning Outcomes:
Discuss the reasons for and methods of governments’ intervention in trade (Lo 1.2)
Identify and evaluate the significant trade agreements affecting global commerce (Lo 1.1)
Carry out effective self-evaluation through discussing economic systems in the international business context (Lo. 3.1)
Critical Thinking
Read the Management Focus on, “NAFTA’s Tomato Wars,” available in your e-book (page no. 620), and answer the following questions:
Assignment Question(s): (Marks: 5)
Do you think that Mexican producers were dumping tomatoes in the United States? Discuss.
(mark:1)
Was the Commerce Department right to establish a new minimum floor price rather than scrap the agreement and file an antidumping suit? Who would have benefited from an antidumping suit against Mexican tomato producers? Who would have suffered? (marks:3)
What do you think is the optimal government policy response here? Explain your answer. (mark:1)
Answer:
1.
2.
3.
&&&&[supanova_question]