ADMS 2500 Study Guide - Final Guide: Internal Control, Deferred Income, Tiger Woods

168 views18 pages

byzantiumcockroach946

11 Dec 2015

School

York University

Department

Administrative Studies

Course

ADMS 2500

Professor

Marcela Porporato

For unlimited access to Study Guides, a Grade+ subscription is required.

ishvindersinghsandhu and 38251 others unlocked

ADMS 2500 Full Course Notes

Verified Note

12 documents

Document Summary

Instructions: submit: both the pink mark sense sheet and the exam will be collected. Record your name and student number and answer all questions on the computer mark sense sheet provided with an hb (soft lead) pencil. The computer will not recognize ink or hard lead pencils. Test form is for the exam version you are writing (a, b or c)" and code is your section (in the left column). Fill in the bubbles for your name and student number in pencil (your phone number is not required). Leave the last column of the student number blank . If you change an answer, use a high quality eraser to completely remove the previous mark. If the computer senses two answers to a question, only the first scanned will be recognized: exam aids: Only calculators without alphanumeric programmable memories are allowed. It is strongly suggested you bring a couple of cheap 4 function computers to the exam in case one fails.

Related Questions

Setup a new company in QuickBooks using the followinginformation.

OnJanuary 1, 2021, you establish a law firm. Youâve been offered twocontracts on retainer for two local businesses. With the twocontracts and walk-in clients, you think you can make your lawpractice a success. At the current time, you do not plan to hireany employees. Instead, you plan to perform the services yourself,at least initially until cash flow from the business can fundemployee payroll.


CompanyName	[your name]Comp Exam 1
Federal Tax ID	123-45-6789
Address	12 Elm Street
City	Woodbury
State	NJ
Zip	08096
Phone	856-222-3333
Industry	Legal Services
Income Tax Form	Sole Proprietor (FORM1040)
Fiscal year starts	January 1, 2021
Checking Account	[your name] Comp Exam 1Checking

Then, after you have set up yourcompany, you need to add three sets of information.

First, you need to add the people you do business with. You willadd the following 2 customers and 3 vendors using the followinginformation.


CustomerName/ Company Name	AirlineTransport
Address	40 George Blvd Cherry Hill, NJ 08033
Contact	Mary
Telephone	609-833-2904
Terms	Net 30


CustomerName/ Company Name	CADExpress
Address	1234 Middle Ct Haddonfield, NJ 08033
Contact	Lori
Telephone	856-556-7766
Terms	Net 30


VendorName/ Company Name	AAEquipment Leasing
Address	72 Long Lane Vineland, NJ 08445
Telephone	609-555-1234
Terms	Net 30


VendorName/ Company Name	Able OfficeSupplies
Address	900 Truman Blvd Marmora, NJ 08229
Telephone	609-376-1356
Terms	Net 30


VendorName/ Company Name	BayAdvertising Agency
Address	55 Inlet Street Ocean City, NJ 08226
Telephone	609-376-5555
Terms	Net 30

Then, you will add this informationto the Services you sell.


LegalConsultation (hourly)	$120 per hour	Account: 45400
Monthly Retainer	$1000 per month	Account: 45400

Then, you will add banking information as follows: Youâll need toadd a Business Checking Account (current asset account, #10100).Use the numbers â123456789â as both bank account numbers androuting numbers. Your account will be named â[your name] Comp Exam1 Checkingâ, dated 1/1/2021, with a $0 balance.

Part II

Record the following transactionsin QuickBooks for the new company.

Date	Transaction
01/01/2021	You invested $1,500cash in the business (Check No. 1000).
01/01/2021	Leased officefurniture for the business. Received the bill and paid one monthâsrental ($110 check) to AA Equipment Leasing.
01/01/2021	Billed monthlyretainer fees to both clients: Airline Transport and CADExpress.
01/02/2021	Purchased $150of office supplies on account from Able Office Supplies.
01/10/2021	Paid $540 fromyour business checking account to United States Post Office (USPO)postage expense for mailing brochures to potential clients.
01/12/2021	Provided 2 hoursof legal consultation to walk-in client. She paid cash at end ofmeeting today. Deposited into business checking account.
01/15/2021	Received billfrom Bay Advertising Agency for $200 of advertising expenses.
01/16/2021	Received paymentfrom Airline Transport for monthly retainer fee as billed on01/01/2021. Deposited check # 444 into your business checkingaccount.
01/20/2021	Received paymentfrom CAD Express for monthly retainer fee as billed on 01/01/2021.Deposited check #888 into business checking account.
01/25/2021	Paid $150 forthe office supplies purchased from Able Office Supplies on01/02/2021.
01/28/2021	Provided onehour of legal consultation today to walk-in client. Client paidcash and deposited funds.

Part III

Generate the following reportsusing QuickBooks. Convert them to Excel.

a. Journal from January 1, 2021 toJanuary 31, 2021.

b. Trial Balance at January 31,2021.

c. Profit and Loss, standard, fromJanuary 1, 2021 to January 31, 2021.

d. Balance Sheet, standard, atJanuary 31, 2021.

e. Statement of Cash Flows forJanuary 2021.

f. Customer Balance Detail

g. Vendor Balance Detail

aquamarineferret872

AEC 316 - Agricultural Marketing
Homework Assignment 2: Chapter 2

Name:____________________ Date:____________________

Multiple choice questions.

There is only one correct answer in multiple choice questions. Please, mark the correct

answer. Each multiple choice question is worth 5 points.

1. A perfectly competitive firmâs demand curve equals its:

Marginal cost curve

Average variable cost curve

Average fixed cost curve

Average revenue curve

None of the above

2. A perfectly competitive firm maximizes profits by setting price equal to:

a. Marginal cost

b. Marginal revenue

c. Average revenue

d. Average total cost

e. Average variable cost

3. In order for a monopoly to continue to be a monopoly:

a. The marginal revenue curve must be downward sloping

b. There must be no close substitutes

c. Marginal revenue must equal marginal costs

d. Average total costs must be decreasing

e. None of the above

4. Marketing strategy which involves dividing a broad target market into subsets of consumers who have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to target them.

a. Brand name

b. Minor ingredients

c. Market segmentation

d. Product features

e. Packaging

5. What characteristic is indicative of oligopolies?

Low profits

Interdependence of firms

Many firms

Entry is blocked

None of the above

6. At an equilibrium price:

a.The self-interest of consumers is maximized

b.Supply equals demand

c.There is an upward pressure on price

d.There is a downward pressure on price

None of the above

7. When both supply and demand increase, equilibrium quantity will:

a.Decrease

b.Increase

Stay the same

Canât say

None of the above

8. Elasticity is a concept that deals with:

a.Market structure

b.Market equilibrium

c.Perfect competition

d.Consumer and producer sensitivity to changes in prices and income

None of the above

9. A set of competing firms producing similar products or a commodity in a market is called a(n) ___ .

a.Branch

b.Competition

c.Channel

Industry

None of the above

10. A market structure where there is only one buyer of a specific product is called:

a.Monopsony

b.Monopoly

c.Oligopsony

Monopsonistic competition

None of the above

Essay question: 50 points

11. Use the agricultural commodity that you selected in Chapter 1 and choose one agribusiness that buys it. Investigate the agribusiness using the Internet and other resources, and then write an essay addressing all or as many as possible of the following aspects of the agribusiness:

Size

Sales

Scope of product line

Worth (if public)

Number of employees

Locations globally

Market structure

Industry sector

All your answers/discussion should be typed in one essay that is at least 15 lines long (using formal English, correct paragraph and sentence structure, and making sure your ideas flow well from one sentence to another) using Times New Roman, 12 point, double space and 1-inch margins all around. Before submitting the final essay, use the âSpelling & Grammarâ function of the MS Word to correct grammar.

At the end of your essay, provide the full citation record in alphabetical order in your list of references. For examples, visit: http://www.saea.org/wp-content/uploads/2013/08/reference-style-sheet.pdf. Please, note that the list of references does not count toward the minimum required 15 lines. Include your references in the text as â(Smith, 2015)â when citing at the end of a sentence, or âAccording to Smith (2015)â when citing at the beginning of a sentence. For example,

Negative publicity is a key determinant affecting consumersâ buying decisions (Ahluwalia, Burnkrant, and Unnava, 2000).

According to Cawley and Rizzo (2005), pharmaceutical products in the same therapeutic class experienced negative spillover in terms of lost sales.

Note: Most of the future essay questions will build on this essay question and/or the one agricultural commodity that you choose. This means that if there is little information on the agricultural commodity that you have chosen for this essay question, you should consider choosing a more common agricultural commodity on which ample information is available. In addition, this course will require you to compile all your answers to the essay questions into one term paper to be submitted by the end of the course. This means that the more effort you put into answering essay questions now, the more material you will have accumulated for your term paper by the end of the semester.

TYPE YOUR ANSWER TO THE ESSAY QUESTION 11 BELOW USING AS MUCH SPACE AS YOU NEED. THEN, PRINT THE HOMEWORK ASSIGNMENT AND SUBMIT THE HARD COPY.

Camille has developed a good network among those in the fashionindustry, especially the seamstresses who have been hired bywell-known celebrities. One day, Camille spoke with Sonya, theowner and Lead Seamstress for Shazam Clothing Industries. Shazam isa leading manufacturer of unique limited edition clothes inSilkadonia. Camille presented Sonya with her order to sew a limitednumber (500) of hot pink and black machine knitted sweaters with amatching knit hat. Each sweater was to have a number and CandieCardiganâs signature on a label sewn onto the bottom right side ofthe sweater. The hats would have the same label with matchingnumber to its sweater, but sewn on the right side of the turned uphat cuff. Sonya agreed to make each sweater and hat pair for $100.Camilleâs plan was to sell each set for $300 thereby making a $200profit per set. While discussing the type of yarn to be used,Sonyaâs cell phone rang. Sonya pushed a piece of paper and a colorpalette towards Camille and whispered âwrite the type of yarn youwant used and exact dye lotsâ and I will begin work on this rightaway. Camille did as requested, but forgot to give Sonya thetraditional 25 percent down payment. The down payment has alwaysbeen used to purchase the materials.

Sonya completed production of all 500 sweaters in record timeand has presented Camille with an invoice for payment for the same.At the bottom of the invoice, the words, âPayment Due Upon Receiptâwere written. Camille changed her mind about wanting the sweatersand hats, as she decided that the items would not be as profitableas originally anticipated. Sonya now comes to the law firm you workfor, P. Strami, and Hammond, Attorneys at Law, and wants to know ifshe has any recourse. Attorney Strami hands you the followinginstructions and asks that you draft a memorandum to himincorporating your research.

Dear Paralegal:

Please prepare a 2â3-page double-spaced memorandum in size 12Times New Roman font discussing the following in the orderpresented:

Please determine whether or not a contract has been formed usingthe basic contract principles of offer, acceptance, andconsideration. State whether or not any of the crucial parts of theinitial offer may be missing.
Further, please research whether or not Camille and Sonyaâs priorcourse of dealings has an impact on the partiesâ communications andwhether or not Sonya would be successful against CARDWARE Inc.should a breach of contract lawsuit be brought against her.
Do not forget to provide your legal research within yourmemorandum. You may use case law to make comparisons, yourtextbook, and reliable Internet research to provide in-textcitations for your work. Do not use Wikipedia.
Prepare your memorandum paying particular attention to thefollowing:

For confidentiality reasons, please prepare an APA formattedcover sheet with your memorandum. Do not forget to indicate whichunit the Assignment is for.
Be sure to avoid the use of first person. Instead, convey yourresearch utilizing third person.
Keep all font color consistent throughout. If you copy and paste alink and it is in blue, hover your mouse over the link, rightclick, and select âREMOVE HYPERLINKâ to keep the font color blacklike the rest of your submission.
Use size 12 Times New Roman font.
Utilize in-text citations. If a reference is listed in yourreference page, it must be included within the body of yoursubmission as well.
Prepare an APA formatted reference page.

bluecamel399

ADMS 2500 Study Guide - Final Guide: Internal Control, Deferred Income, Tiger Woods

ADMS 2500 Full Course Notes

Document Summary

Get access

Related Documents

ADMS 2500 Study Guide - Final Guide: Authorised Capital, Issued Shares, Inventory Turnover

ADMS 2500 Study Guide - Final Guide: Academic Dishonesty, Net Income, Financial Statement Analysis

ADMS 2500 Study Guide - Final Guide: Issued Shares, Financial Statement, Spin Master

Related Questions