Qrb 501 week 5 learning team case studies case 21 -1 and 21 – 2


 

Week 5 Learning Team Condition Studies

Complete the forthcoming condition studies from Ch. 21 of Business Math

  • Case Study 21-1, p. 768
  • Case Study 21-2, p. 769 

Create your own Microst Excel effectsubterfuge and format it to rejoinder your questions.

Note. Show all effect and calculations. (The use of Microsoft® Excel® software is required.)

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21.1 Contemporary Grove Wares Condition Study 21-1, p. 768    Charles Royston was checking the year-end estimates for his grove wares manufacturing and retail matter and was watchful encircling the quantity. From what he treasured, his debits and accounts receivable were remarkable than the earlier year. Rather than get effected up aggravate trifle, he firm he would supplement the advice and form a similarity. For December 31, 2011, the matterhad present nature of: $1,844 money, $11,807 accounts receivable, and $9,628 schedule. Plant and equipment completioned $158,700. Present liabilities were: accounts payable $13,446; stipend payable $650; and nature and taxes payable $4,124. Long-term debit completioned $92,800 and owner’s equity $70,959. By similarity, for December 31, 2010, the matter had present nature of: $3,278 money; $6,954 accounts receivable; $17,417 schedule. Plant and equipment completioned $144,500. Present liabilitieswere: accounts payable $9,250; stipend payable $1,110; nature and taxes payable $3,650.  Long-term debit completioned $75,800; and owner’s equity $82,339.    

1. Construct a proportionately estimate subterfuge for Contemporary Grove Wares for year-end 2010and 2011, including a upright and even separation of the proportionately estimate subterfuge. Express percents to the rectilinear tenth of a percent.   

2. Calculate the present pertinency and the completion debit to completion nature pertinency for 2010 and 2011.

3. Overall, what does your separation average? Is Charles redress to be watchful encircling these quantity? Explain.

Case Study 21-2

Jessica and David are tyro interns at Balanced Books Bookkeeping. They possess enthralled several

matter math and accounting classes and are now applying what they possess versed to real-life situations.

They possess their internship, but they are sometimes surprised by the assignments they are

given. Luckily, they effect concertedly, so they distribute the assignments and attain from each other. Their

most new-fangled assignment is to follow a listing of accounts supposing by one of Balanced Books' clients

and deviate them into a estimate subterfuge and allowance announcement. David suggests that their client susceptibility appreciate

it if they besides performed a upright separation of each announcement. Jessica suggests that they

should besides estimate the present pertinency and the discerning-ordeal pertinency.

1. Create the financial announcements for December 31, 2011, paint them in upright format, and

estimate the present and discerning ordeal pertinencys.

Account distinction Amount Account distinction Amount

Cash $4,000 Accounts payable $3,500

Depreciation 2,000 Merchandise schedule 15,000

Carlton, equity 34,500 Accounts receivable 6,000

Cogs 85,000 Net sales 120,000

Rent payment 15,000 Insurance payable 500

Wages payable 1,500 Equipment 15,000

Utilities 6,500 Stipend 8,000

Miscellaneous 1,500 

Cogs = Cost of Goods Sold

Miscellaneous = Miscellaneous Expense