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Module 3 – SLP

Income Statement

We are using the same company as in the second module. However, you need to consider some additional information.
•One client had indicated that they were interested in purchasing $42,500 worth of products, so the bookkeeper recorded the transaction. However, the client has not actually committed to the purchase.
•The bookkeeper already corrected the sales account. However, the bookkeeper may have made a mistake when computing cost of goods sold. She included total production costs for 2012 and did not adjust ending inventory for the $42,500 worth of units left at the end of the year. The amount of ending inventory was determined using a physical count.

Nybrostrand Company

31-Dec-12

Trial Balance (accounts in alphabetical order)

Debit

Credit

Accounts payable

78,000

Accounts receivable

36,500

Cash

30,000

Common stock

10,000

Depreciation expense

24,350

Cost of goods sold

307,000

Equipment (net of depreciation)

415,000

Insurance

1,400

Inventory

34,000

Long-term debt

127,000

Marketing

4,500

Paid-in capital

50,000

Property taxes

16,900

Rent

28,000

Retained earnings

?

Revenues

586,000

Salaries

78,500

Utilities

6,700

Total

982,850

851,000

SLP Assignment Expectations

Prepare an income statement for the company in good format. Always include the name of the company and the period covered in the title. Don’t forget dollar signs where appropriate. You do not need to include the balance sheet. Consequently, you will not need all the accounts listed above. How does the income or loss compare to the original income statement? Explain the importance of the matching concept.

The submission should be 2 to 4 pages and need to include answers to all the questions listed above. Show computations, discuss the results and include references in APA format.

dear writer,

the following is what i have to solve for my final exam. ( SO PLEASE MAKE SURE YOU ACE IT). i will attach the final exam case study in which we have to apply both the CHAPTER NOTES and the POWER POINT on.

you have to implement what we learnt in the chapter 12 power point and chapter 12 notes on case.

please make sure your work is organized and clear.

please implement the chapters understanding on the case, and when you are writing this report, i need you to mention the question, and the answer.

i need to know exactly what the questions would be like too, when you are implementing the answers.

Research a case that involves alter-ego liability. Define the term “alter-ego” and list the elements the court considered when determining whether to pierce the corporate shield.

In addition, discuss whether it is ethical for a company to move its corporate headquarters overseas to avoid paying income tax. Which duty do you believe is higher, the duty of corporations to pay tax to government or the duty of corporations to pay dividends to shareholders? Why?

Specific Instructions:
1. Paper must be written in a coherent manner.
2. Check grammar and spelling. Very important! Please do not omit words in sentences!
3. Proper in-text citation and references is a must!
4. Do not have headings or titles for paragraphs. Professor deducts points for that.
5. Incorporate the material from the text and support your statements.

DO NOT USE ANY SOURCES EXCEPT FOR THE FOLLOWING:

Please use findlaw.com to research case.

Other credible sources:
1) Hasl-Kelchner, Hanna. (2006). The business guide to legal literacy: what every manager should know about the law. [Books24x7 version] Retrieved from
http://ezproxy.apus.edu/login?url=http://library.books24x7.com/toc.asp?bookid=16713
Appendix C – The Lessons of Sarbanes-Oxley

2) The Sarbanes-Oxley Act

3) Maffei, S. (2011). Personal Liability of Corporate Shareholders in New York. Review Of Business, 31(2), 110-114. Retreived from http://search.ebscohost.com.ezproxy1.apus.edu/login.aspx?direct=true&db=bth&AN=66249887&site=ehost-live

* To gain access for source 1 and 3 please use log-in:

Additional information: please indicate “add. info” as in-text citation when details are used from the following:
Alter Ego

Corporations and limited liability companies offer limited liability to their shareholders and members. This means that if the company is sued the creditor cannot look to the assets of the shareholders in order to satisfy a judgment. If the company does not have sufficient assets to cover the judgment, the creditor is out of luck. The most a shareholder can lose is the amount of money she has invested in the company. However a business owner needs to do more than merely file a form with the secretary of state and create the corporation in order to create this shield of liability protection. If a company is deemed to be one and the same as the business owner, or owners, the court will allow the creditor to pierce the corporate shield. A company that is found to be merely the alter ego of the business owner will not offer any liability protection for the owner. The materials this week will illustrate ways to ensure a company is not operated as the alter ego of the business owner.

Sarbanes Oxley

Most students have heard of the Enron scandal, where egregious accounting practices resulted in the loss of billions of dollars. As a result of this, and other scandals like WorldCom and Tyco, Congress enacted the Sarbanes-Oxley act of 2002. This Act creates strict accounting practices and creates accountability to the CEO and CFO of the financial statements. Penalties for non-compliance are harsh, and include steep fines, imprisonment and the delisting of the company from the stock exchange. All public companies must comply with this Act.

Legal Concepts v. Laws

There is a difference between a general legal concept and a law. An example of a law would be the Sarbanes Oxley Act. This is a federal law: Sarbanes-Oxley Act of 2002, PL 107-204, 116 Stat 745. An example of a general legal concept is alter ego; it will not be found in any federal or state code books. This is a legal concept used to bring liability to a shareholder of a corporation or LLC. For the purposes of this class laws are found (codified) in state statutes, federal statutes, and federal regulations. General legal concepts are not codified.

Discuss why animal eyes glow green when illuminated at night. What causes “red – eye” in flash pictures?
References (with whatever format you are comfortable using)should be included at the end of your paper.

Every year a small number of children die from diseases or conditions that develop as a result of vaccines received to protect them. It seems to be an inherent hazard associated with mass preventative inoculation. Is it worth the risk? Can you debate both sides of the issue? Have you had or would you have your own children vaccinated? Why or why not?

The Portfolio Project requires you to write a memorandum to a decision-maker, such as the president of the United States, a member of Congress, a chairperson of the SEC, or a state Governor, on how to reform corporate ethics in American business today. As we have seen, legislation such as Sarbanes-Oxley has received considerable media attention, but has not prevented significant catastrophes such as the global economic meltdown of 2008. You should be prepared to propose policies that might help to ameliorate or to prevent corporate ethics lapses that might occur in the future. You have the freedom to select any policy avenues that you think might help to strengthen and fortify corporate ethics. Your memo should do the following:

•Set forth why your chosen policy pathway is important
•Compare it to and contrast it with the policy it replaces
•Articulate your ideas on how to remedy the issue of corporate malfeasance
•Proffer some recommendations to the decision-maker about how to improve overall corporate governance
Please note that your prescription for change is not nearly as important as your ability to forecast potential challenges to the corporate boardroom and to predict possible ways the government could intervene to assist not only solid corporate governance, but also the interests of individual shareholders. It is recommended that you suggest at least two methods and/or policy proposals that critically address the public policy concern. Bring in facts and other data to support the policy issue addressed and make sure each fact is cited to the relevant authority. Demonstrate critical thinking by analyzing, evaluating and interpreting appropriate policy to provide original perspectives to enhance corporate legal and ethical environs.

You are expected to convey complex ideas in a clear, concise and organized fashion, using the required and recommended readings from the course for analytical support. Although you are encouraged to cite from your textbook, you are required to cite a minimum of four scholarly sources beyond the textbook to support your statements.

I am letting it up to the writer to decide what topics to discuss but please take care with the assignment as it is very important to my grade as well as a good amount of money for it, thank you

Chapter 22 in our book deals with Connecting with the Public (I will upload the chapter). After reading it, what are some general guidelines you would give to a fellow student or employee about social media. What professional guidelines should they follow? Why do students and professionals need to be aware of their social media presence? Use at least one quote from the chapter in your response. The book: Markel, Mike. Technical Communication. New York: Bedford, 2012. Print.

Homework
Review carefully the statistics presented by “If Americans Knew” at http://www.ifamericansknew.org (also summarized in the PowerPoint slides) and showing:
Israeli and Palestinian Children Killed, September 29, 2000 – Present
Israelis and Palestinians Killed, September 29, 2000 – Present
Israelis and Palestinians Injured, September 29, 2000 – Present
UN Resolutions Targeting Israel and the Palestinians, 1955 – 1992
Current Number of Political Prisoners and Detainees
Demolitions of Israeli and Palestinian Homes, 1967 – Present
Israeli and Palestinian Unemployment Rates
Current Illegal Settlements on the Other’s Land
Daily U.S. Military Aid to Israel and the Palestinians, Fiscal Year 2013
Based on these statistics and the central arguments made in the textbook, write a thoughtful essay (200-300 words) in which (1) you summarize the significant facts you have learned from comparing and contrasting these statistics and (2) you explain why predominantly Christian America has supported and continues to support the Jewish Israelis who do not believe in Jesus against the Muslim and Christian Palestinians who do believe in Jesus, and who are clearly the underdog (“In fact, a good case can be made that current U.S. policy conflicts with basic American values and that if the United States were to choose sides on the basis of moral considerations alone, it would back the Palestinians, not Israel”, Mearsheimer and Walt, page 80).

Sources for homework assignments must be cited briefly and ONLY between parentheses in the text.

Write a 250- to 350-word paper explaining why preferred stock is referred to as preferred and what some of the features added to preferred stock are that make it more attractive to investors. Would you select preferred stock or common stock as an investment? Why?

Format your paper consistent with APA guidelines.