Notes Receivable and Income – On January 1, 2007 the Pitt Company sold a patent to Chatham, Inc., which had a carrying value on Pitt’s books of $10,000. Chatham gave Pitt a $60,000 non-interest-bearing note payable in five equal annual installments of $12,000, with the first payment due and paid on January 1, 2008. There was no established price for the patent, and the note has no ready market value. The prevailing rate of interest for a note of this type at January 1, 2007 is 12%. Information on present value and future amount factors is as follows:

Required

Prepare a schedule showing the income or loss before income taxes (rounded to the nearest dollar) that Pitt should record for the years ended December 31, 2007 and 2008 as a result of the preceding facts. Show supporting computations in good form.

hello,

I wanted to see if I could find the best expert that can help me answer this question

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Part 1:
An ambulatory clinic, structured as a physicians’ partnership, has 7 responsibility centers: Administration, Administrational Support, Facilities Management, Environmental Support, Imaging, Clinical Services, and Surgical/Invasive Services. Last year’s balance sheet and income statement are shown below. Being structured as a for-profit partnership, there are some minor differences in the financial statements from the corporate formats used in class. For example, the equity section of the balance sheet is comprised primarily of 2 accounts: the capital and current accounts. Typically, each partner has their contributed capital listed in the capital account and their share of the company’s accumulated profits (retained earnings) listed in their current accounts.
AMBULATORY CLINIC PARTNERSHIP
BALANCE SHEET, December 31, 2013
ASSETS
Cash and equivalents $ 200,000
Net accounts receivables 420,000
Supplies 150,000
Pre-paid expenses 180,000
Other 150,000
Total Current Assets $ 1,100,000
PP&E $ 2,550,000
Accumulated depreciation 550,000
Net Fixed Assets $2,000,000
Goodwill 400,000
Other Intangibles 100,000
TOTAL ASSETS $ 2,500,000
LIABILITIES
Accounts payable $ 180,000
Salaries payable 160,000
Taxes payable 30,000
Current portion of L-T debt 100,000
Notes payable 60,000
Unearned revenues 60,000
Total Current Liabilities $ 590,000
Debentures, less current portion 500,000
Mortgages, less current portion 600,000
Total Long-term Liabilities $ 1,100,000
EQUITY
Capital account (total) 410,000
Current account (total) 400,000
Total Equity $ 810,000
TOTAL LIABILITIES & EQUITY $ 2,500,000
AMBULATORY CLINIC PARTNERSHIP
INCOME STATEMENT, Year Ended December 31, 2013
Gross Patient Revenue $4,500,000
Deductions & Bad debt 850,000
Net Patient Revenue $3,650,000
Interest Revenue 150,000
Total Net Revenues $3,800,000
Operating Expenses
Salaries/wages expense $2,050,000
Lease expense …

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Final.docx

MIS4310 – Programming in Java
Final Exam Project – Problem 5
A film studio asks a team of software analysts to create a movie database that is a text file of CSV format named “movieDatabase.txt”. The project includes the development of a window application that can be used to enter data of movies into the database.
The window application provides a graphical user interface (GUI) to enter the following pieces of data of each movie:
Movie ID (an integer of 10 digits)
Movie title
Movie director’s full name(String – e.g.

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MIS4310 – Programming in Java
Final Exam Project – Problem 5
A film studio asks a team of software analysts to create a movie database that is a text file of CSV format named “movieDatabase.txt”. The project includes the development of a window application that can be used to enter data of movies into the database.
The window application provides a graphical user interface (GUI) to enter the following pieces of data of each movie:
Movie ID (an integer of 10 digits)
Movie title
Movie director’s full name(String – e.g. John Smith)
Movie main actor’s/actress’ full name (Assumed that only one main actor or actress)
Movie start date(String – e.g.: 05/16/2000)
Movie premiere date (String – e.g.: 07/01/2012)
Movie premiere location (String – e.g.: Los Angeles)
The team has done excellent jobs developing the window application used to create the movie database. The film studio executives want to expand the project. They ask the team to create another window application that can be used to search for movies in the database.
The search window application provides a graphical user interface (GUI) to enter the following pieces of data used for a movie search:
A movie attribute that the user wants to target in the search
The value of the attribute that the user wants to search for
Besides providing searches based on each attribute, the search program displays all the records that currently exist in the database if the search attribute is “ALL”. For a search, the search program displays the text “No matched record is found in the database.” if no record is found.
The window application displays the search results in text: each movie is displayed by a line of CSV format that contains all data fields of the movie.
PART I:
Design the graphical user interface (GUI) of the application, using Microsoft Power Point or any other suitable software program.
PART II:
Develop class Movie in a new package named “COMMON_MOVIEDB”.
Add class FileIO (see details in the…

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final-exam-pr….docx

Cost of Intangibles – After securing lease commitments from several major stores, Silver Springs Shopping Center, Inc., was organized and built a shopping center in a growing suburb. The shopping center would have opened on schedule on January 2, 2008 if it had not been struck by a severe tornado in December; it opened for business on October 2, 2008. All the additional construction costs incurred as a result of the tornado were covered by insurance. In July 2007 in anticipation of the scheduled January opening, a permanent staff was hired to promote the shopping center, obtain tenants for the uncommitted space, and manage the property. A summary of some of the costs incurred in 2007 and the first nine months of 2008 follows:

The promotional advertising campaign was designed to familiarize shoppers with the center. Had the company known in time that the center would not open until October 2008, it would not have made the 2007 expenditure for promotional advertising. The company had to repeat the advertising in 2008.

All the tenants who had leased space in the shopping center at the time of the tornado accepted the October occupancy date on condition that the monthly rental charges for the first nine months of 2008 be canceled.

Required

Explain how the company should treat each of the costs for 2007 and the first nine months of 2008. Give the reasons for each treatment.

When David P. Gardner, president of the University of California, announced his retirement unexpectedly in April 1992, he received a severance package worth $1 million—in a year in which the university’s budget was cut by $255 million. The university also announced that student fees would rise for the third straight year—for a three-year total increase of 85 percent. Mr. Gardner, who retired early at age 58, earned an official salary of $243,500—double that of California’s governor. But his actual compensation was more than $400,000. And although his official pension would be $126,000 a year, he received an additional $933,000 when he departed. In addition to Mr. Gardner’s base salary, the regents found ways to pay him an additional $160,000 annually. Deferred income, severance pay, and a special supplemental retirement program made the difference. In fact, a secret deferred-income plan was established by the regents in 1988 for about a dozen top UC executives, after a private study concluded that their compensation lagged behind that of top administrators in a nationwide comparison group of universities. (The conclusions of the study were challenged by the California Postsecondary Education Commission, an independent state agency.)

a. Assume you were one of the students in the UC system. Discuss your perceptions about Mr. Gardner’s compensation package.

b. How ethical do you think it was for Mr. Gardner to accept such a compensation package? Consider both the information in the comparative study and the budget problems that California was experiencing.

c. Could this simply be a case of trying to retain the “best and the brightest” in a not-for-profit institution? Discuss the rationale for your answer.

Maria Rocco is concerned about the quantity of goods being produced by the Latin American Division of Auto World. The following production data are available for April 2001:

Determine each of the following for this division for April.

a. What is the manufacturing cycle efficiency?

b. What is the process productivity?

c. What is the process quality yield?

d. What is the total throughput per hour?

e. If only 22,500 of the units produced in April had been sold, would your answers to any of the above questions differ? If so, how? If not, why not? f. If Rocco can eliminate 20 percent of the non-value-added time, how would throughput per hour for these data differ?

g. If Rocco can increase quality output to a yield of 94 percent and eliminate 20 percent of the non-value-added time, how would throughput per hour for these data differ?

h. How would Rocco determine how the non-value-added time was being spent in the division? What suggestions do you have to decrease non-value added time and increase yield?

In a survey, 649 managers responded to a questionnaire and provided their opinions from an ethical perspective as to the acceptability of manipulating accounting earnings to achieve higher managerial compensation. One of the questions dealt with the acceptability of changing a sales practice to pull some of next year’s sales into the current year so that reported current earnings could be pushed up. The results of the survey indicated that about 43 percent of the respondents felt this practice was ethically acceptable, 44 percent felt the practice was ethically questionable, and 13 percent felt the practice was ethically= unacceptable. Other results of the survey indicate the managers felt large manipulations were more unethical than small manipulations, and income-increasing manipulations were more ethically unacceptable than income-decreasing manipulations.

a. If managers are able to manipulate earnings to effect a change in their pay, is this a signal of a weakness in the pay-for-performance plan? Explain.

b. In your view, does the materiality of a manipulation partly determine the extent to which the manipulation is ethically acceptable?

c. Describe any circumstances in which you believe manipulations would be ethically acceptable.

Northstar Offroad Company (NOC), a subsidiary of Allston Automotive, manufactures go-carts and other recreational vehicles. Family recreational centers that feature go-cart tracks, miniature golf, batting cages, and arcade games have increased in popularity. As a result, NOC has been receiving some pressure from Allston Automotive top management to diversify into some of these other recreational areas. Recreational Leasing Inc. (RLI), one of the largest firms that leases arcade games to family recreation centers, is looking for a friendly buyer. Allston Automotive management believes that RLI’s assets could be acquired for an investment of $3.2 million and has strongly urged Bill Grieco, division manager of NOC, to consider acquiring RLI. Grieco has reviewed RLI’s financial statements with his controller, Marie Donnelly, and they believe that the acquisition may not be in the best interest of NOC. “If we decide not to do this, the Allston Automotive people are not going to be happy,” said Grieco. “If we could convince them to base our bonuses on something other than return on investment, maybe this acquisition would look more attractive. How would we do if the bonuses were based on residual income using the company’s 15 percent cost of capital?” Allston Automotive has traditionally evaluated all of its divisions on the basis of return on investment, which is defined as the ratio of operating income to total assets; the desired rate of return for each division is 20 percent. The management team of any division reporting an annual increase in the return on investment is automatically eligible for a bonus. The management of divisions reporting a decline in the return on investment must provide con- vincing explanations for the decline to be eligible for a bonus, and this bonus is limited to 50 percent of the bonus paid to divisions reporting an increase. Following are condensed financial statements for both NOC and RLI for the fiscal year ended May 31, 2000.

a. Under the present bonus system, how would the acquisition of RLI affect Mr. Grieco’s bonus expectations?

b. If Mr. Grieco’s suggestion to use residual income as the evaluation criterion is accepted, how would acquisition of RLI affect Mr. Grieco’s bonus expectations?

c. Given the present bonus arrangement, is it fair for Allston Automotive management to expect Mr. Grieco to acquire RLI? Explain.

d. Is the present bonus system consistent with Allston Automotive’s goal of expansion of NOC into new recreational products? Why or why not? (CMA adapted)

1.
Individual Assignment – Porter 5 Forces.

Your mission is to analyse
the Australian car manufacturing industry by performing a 5 forces analysis and
a life cycle analysis.

You should find a
comprehensive answer to the question ‘why is the Australian Car Manufacturing
Industry closing down’.

You should bring ideas from
at least two journal articles to the discussion in the main body of the report.

All ideas in the report
must be referenced using Harvard Referencing.

In the first half of the
report you introduce ideas, then, in the second half of the report you will
discuss and evaluate these ideas to identify what is most relevant and
significant.

This is a short report, so
fill it with ideas and discussion.

Descriptive material has
negligible value and should be avoided.
We are seeking analysis, discussion and recommendation, enriched by
ideas found in journal articles.

In business you will be
expected to produce short well-argued reports.
This is your opportunity to both develop and demonstrate that skill.

(1500 words, week 6, 20
marks)

Assessment
Criteria

Demonstrated knowledge of
theory. The discussion should use the
concepts covered in this subject.

Capacity to apply this
theory to the car industry.

The comprehensiveness of
the list of issues identified

The clarity of exposition

The quality of the discussion
and evaluation of the issues identified

The integration of ideas
from journal articles

The clarity and utility of
the recommendation

The correct use of Harvard
Referencing throughout the report. (the
source of all ideas must be identified)