...CASE 5-3 JOAN HOLTZ (A)* (1) Electric utility bills. An electric utility company can estimate with reasonable certainty the expected revenue in a given period by taking into consideration some of the following: customer habits, average historical trends, demand and supply forecasts, and environmental changes. The electric utility industry effectively uses an insurance industry concept—the law of large numbers, to determine with certainty, expected revenue. The law of large numbers states, as the number of participants (customers) in a risk class (low, medium, high kilowatt users) increases, the expected outcome (usage for specific class) remains the same but the standard deviation (variability of usage) continues to drop until the probability that the average outcome (average usage) will be different from the expected outcome (expected usage) becomes negligible. This concept is conceptually similar to the Central Limit Theorem, and thus illustrates on average, the more observations per class, the more the usage tends to be bell-shaped and this usage is used for basing revenues per class. This is one way how the utility company can determine period-end revenue. Another way is if customer usage is consistent from period to period it can base reported revenue on actual meter readings. The unreported usage in December would be reported in January, and overall revenues for this year would not be materially misstated. The utility company can also adjust for seasonal changes in demand...
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...Joan Holtz 1. Electric Utility Bills Revenue of the Electric Company can be measured given the amount of electricity generated for the year multiplied by the per-kilowatt/hour charge to customers. This is because the electric service has already been provided and distributed to customers for ready consumption 2. Retainer Fee The amount of revenue to be counted in 2010 is $5,000 from the $10,000 retainer fee good for 1 year. This is because, despite the fact that there was no way of knowing how often, or when, the client would request advice, the fee is paying for the certainty of the law firm’s availability and expertise at any point where these are needed by the client. The delivery of this “service” lapses each month in proportion to the total amount of paid fees hence $5,000 should be recognized by the end of 2010. 3. Cruise The amount of revenues that Raymond’s Travel Agency should record in 2010 is $260,000. The service that the travel agency provides is in the act of booking related travel services – accommodations, transportation, coordination in behalf of clients, etc – as opposed to delivering these same services per se. Since Raymond’s completed the above while still within 2010, revenues should already be recognized. 2011 refunds would not have an impact on revenue recognition as this should already represent a loss to Raymond’s, though certain stipulations in the company’s reservation policy should eliminate such possibilities or aid in...
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...Electric utility bills. When an electric utility customer uses electricity, the electric company has earned revenues. It is obviously impossible, however, for the company to read all of its customers' meters on the evening of December 31. How does the electric company know its revenue for a given year? Explain. According to historical data, the electricity usage usually tended to be fairly constant from month to month. The company can estimate the revenues for each month, by using historical data. Generally high fluctuation will not occur in electricity usage. We can easily estimate the monthly usage by the data of the same month last year. In this situation, if there is any inaccuracy we can adjust its estimation. Usually, the electricity usage is quite constant over time. Therefore, the company can estimate its revenues based on the data from the last year. If there is any inaccuracy, we can make adjustment in the following month. Retainer fee. A law firm received a “retainer” of $10,000 on July 1, 2006, from a client. In return, it agreed to furnish general legal advice upon request for one year. In addition, the client would be billed for regular legal services such as representation in litigation. There was no way of knowing how often, or when, the client would request advice, and it was quite possible that no such advice would be requested. How much of the $10,000 should be counted as revenue in 2006? Why? Only half of the “retainer” should be recognized. This...
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...Focus Group Discussion Questions for Australian Wine & Hardy Brand I. General attitudes towards wine: 1. Do you drink alcohol? If yes, what kind of alcohol do you mainly have? 您喝酒吗？如果喝，主要喝什么酒？ 2. If you think of the word wine, which country of origin tends to come first, which the second? 您认为最好的葡萄酒来自哪个国家？其次呢？ 3. Among the local brand(s), which one(s) would you come to your mind first? 在本国葡萄酒品牌中，哪个品牌是您心目中的第一、二个品牌？ 4. If you also have wine, how often do you have it? 如果您也喝葡萄酒，多久喝一次？ 5. What do you drink/will drink wine for? (enhance flavor of food, health, fashion, ……) 您喝/打算喝葡萄酒，主要是为什么？ （如回答困难，才提示：让饭菜的味道更好？有益于健康？时尚？上档次？……） 6. In which situations do you prefer wine over other drinks and why? 在什么情况下您倾向于喝葡萄酒，而不是其他酒或饮料？ II. Buying habits: 7. Do you sometimes give wine as a gift? If yes, to whom, and on which occasions? 您把葡萄酒当礼品送吗？如果是，送给谁？在什么时节或场合？ 8. In your opinion, what may help you determine the quality of a wine? (country of origin, grape type, brand name, price, the year of brewing, label, bottle shape, closure, package, point of sales...) 在您看来，什么属性有助于您判断葡萄酒质量？ (如回答困难，后提示：原产地，葡萄品种，品牌名称，价格，年份，标签，酒瓶形状，瓶盖，外包装，销售地点…) 9. In picking up wine for your own use, what comes to your mind first? (country of origin, grape type, brand name, price, the year of brewing, label, bottle shape, closure, package, point of sales....) 如为自己喝，您在选购葡萄酒时以什么为重？(如回答困难，才提示：原产地，葡萄品种，品牌名称，价格，标签，酒瓶形状，瓶盖，外包装，销售地点…) 10. And for a gift? 如果用于送礼呢？ 11...
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...ACCT101 project Case5-3 1. Electric utility bills Method 1: As everyone knows, the electricity meters can be read every month. Therefore, in December the company will know the electricity usage of the former 12 months including that of December last year. And the usage of electricity in December this year can be included in the next year’s revenue. Method 2: Strictly speaking, the revenue recognized in method 1 is not earned in THIS YEAR. through the method of estimating the electricity usage in December this year, added by the actual usage of former 11 months, we can get record the revenue and then do some adjustment in the next year. 2. Retainer fee none of the $10,000 should be counted as revenue in 2006. In accordance with the Basic Recognition Criteria, the revenue cannot be booked unless the entity has substantially performed what is required in order to earn income. Furnishing legal advice upon request is the law firm’s required service to be provided in this case. Since they did not perform any consultant service, the law firm cannot book the revenue for year 2006. Another appropriate way is applying the franchises model in this situation. As a franchiser recognizes revenue during the period in which it provides the services, the law firm may settle the revenue when their first general advice service is made. 3. Cruise None of the $260,000 was revenue to Raymond’s in 2006 since the service would not be rendered until January 23, 2007. Journal entries...
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...T he Catcher in the Rye is set around the 1950s and is narrated by a young man named Holden Caulfield. Holden is not specific about his location while he’s telling the story, but he makes it clear that he is undergoing treatment in a mental hospital or sanatorium. The events he narrates take place in the few days between the end of the fall school term and Christmas, when Holden is sixteen years old.As Holden goes out to the lobby, he starts to think about Jane Gallagher and, in a flashback, recounts how he got to know her. They met while spending a summer vacation in Maine, played golf and checkers, and held hands at the movies. One afternoon, during a game of checkers, her stepfather came onto the porch where they were playing, and when he left Jane began to cry. Holden had moved to sit beside her and kissed her all over her face, but she wouldn’t let him kiss her on the mouth. That was the closest they came to “necking.” Holden leaves the Edmont and takes a cab to Ernie’s jazz club in Greenwich Village. Again, he asks the cab driver where the ducks in Central Park go in the winter, and this cabbie is even more irritable than the first one. Holden sits alone at a table in Ernie’s and observes the other patrons with distaste. He runs into Lillian Simmons, one of his older brother’s former girlfriends, who invites him to sit with her and her date. Holden says he has to meet someone, leaves, and walks back to the Edmont. Maurice, the elevator operator at the Edmont, offers to...
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...Holden Caulfield is the protagonist in the novel the Catcher in the Rye. The 16 year old boy writes of his journey through a personal period in his life. He is alone and desperate for relationships. He feels as if everyone despises him and he fears the idea of growing up and becoming a “phony.” He is also afraid of death, mainly because of his experience with the death of his little brother Allie. Through his journey he goes from a lonely secluded boy who has nothing figured out to a young adult who has learned to accept others and has a small chance of hope in life. Holden thinks of himself as a sophisticated person who sees and understands all around him, but his not. Really he is just a kid at heart and wishes to stay a kid forever. He has a theory that children are pure and the epitome of innocence and once they grow up and become adults they become impure and corrupt, and for that reason Holden wishes to stay a kid forever. This causes Holden to be slightly distant from others and not very friendly. This isolation hurts him and tries to find way to communicate with others but can’t. With all of the personal problems his dealing with his school life suffers. He had dropped out of prep school and had no apparent plans for the future. Some of his old teachers like Mr. Spencer and Mr. Antolini try to help Holden and give him advice. Mr. Antolini criticizes Holden and Holden is forced to see the problem. Holden is afraid of the adult world and doesn’t want to be a part of...
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...Holden Caulfield, from Catcher in the Rye can be kept under observation for psychological problems. From what’s been read in the book, Holden seems like a troubled boy. You can tell from the four different schools he’s been kicked out of and especially that he is unable to relate or connect with any others and voices strong harsh opinions about others. As the story goes on, many more reasons about his troubled-ness should unfold. His symptoms cannot be filed away in a readily disorder or given advice from Dr. Phil. It may be helpful for Holden to know of his conditions, and also advice from Dr. Phil which he might be able to use to help relive somewhat of his troubles. First of his we could address is where he judges everybody and everything. Holden judges them in many categories but frequently judging them into groups of either being phony, stupid, or insecure. He judges everyone so quickly. To him phony people are considered who are predictable not insincere. That is considered strange because most consider phonies as ones who are insincere. What could be advised from Dr. Phil’s articles is to see everything in a positive light. Maybe Holden judges everyone and everything constantly to cover his own fear of being judged by others and what he needs to do is have control over it. He probably knows his actions causes people to talk and that’s why he talks about others. In order to control this, he just control his actions and not do anything that others could talk...
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...Joan of Arc was born on January 6, 1412 in the village of Domremy. Her parents, Jacques and Isabelle d’Arc named her Jehanne at birth . Joan grew up in a time of turmoil and trouble for France. The King of France during her childhood years was Charles VI, who was only twelve years old when his father died. Charles VI was known to have frequent spells of delusion, prompting family members to take over the throne. Soon after, the Duke of Louis of Orleans was assassinated in 1407 on the orders of his cousin, the Duke Jean-sans-Peur de Burgundy. After this time, France was divided between the two family factions, the Armagnac and the Bourgogne . War with England was not new to France. In several previous wars England had stolen land away from France, some of which was recovered during the reign of Charles V. Yet after Charles VI inherited the throne his leadership was so weak that almost all gains made by his father were lost. The uncles who seized the throne did not provide much more in the way of leadership than Charles VI. Fragmented and vulnerable, France found itself at war with England again in 1415. Claiming a legal right to the French throne, King Henry V of England invaded Normandy in August of 1415 and quickly defeated the French Royal army. The French citizens met the news of the English win with disbelief, given that the French far outnumbered the English. Many of the French royal family were killed, and Duke Charles d’Orleans was sentenced to serve 25 years as a prisoner...
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...Joan Miro was born on 1893 in Spain and he was a Spanish artist for the twentieth century. When he moved to Spain in 1919 after the World War I he met other struggling artist including Pablo Picasso who is also a Spaniard like Miro. Most of the artists there were Surrealist which is working with dreams, memory, and abstract. Joan Miro was a surrealist who created abstract art of people. He would use simple lines and flat, bright colored shapes to create his work. The reason Joan miro used abstract symbols was because after he graduated high school at the age of 17 he got sick and had to go to a families barn to recover but while he was there he used his surrounding such as the sun, plants, a ladder, and animals which was represented as realistically. In most of his art you will see a circle or lots of circles, this was his favorite shape. In one of his artworks called dog barking in the moon he created an image of a ladder going into the dark sky of going nowhere, the grotesque looking dog who is howling at the distorted moon, and a mysterious bird like figure above the ladder. He creates images like this to let the viewers use their imagination to figure out the haunting visual image. Joan Miro became famous for making a self portrait out of the style of abstract and then later he painted another self portrait of himself but more realistic but still has a little abstract. People loved his artwork because of the shapes and the bright colors and the thick bold lines in his...
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...to Rock and Roll 23 April 2016 Joan Jett Pioneers Through Rock and Roll History America has been characterized by revolutionary people changing the aspects and perspectives of its citizens through innovative acts, movements, and even through word of mouth. Martin Luther King Jr. changed the outlook of millions of Americans on the racial division in the country by using peaceful protests and eloquently delivered speeches. Benjamin Franklin and the founding fathers pioneered an idea that a country could be run by the people, which was in direct opposition to the rule they were under in Britain. These two events have set forth a phenomenon in America that allows people to challenge prototypical roles and views. When it comes to music icons that have changed the normalcy of music during their time, one would have to be Joan Jett. She was faced with the overwhelming obstacle of battling sexism and gender inequality throughout her musical career, particularly in the Rock and Roll industry in the 1970s and 80s. The music industry was changing during the 1960s in part to what Americans were experiencing; the British Invasion, the assassination of President Kennedy, the Vietnam War, and the Civil Rights Movement. Rock and Roll quickly made its way into the mainstream being a powerful voice for the cultural revolution. Rock and Roll was a man’s world during the 70s and 80s, and women rockers were unwelcomed by both the musicians and fans. Joan is sometimes overlooked by history...
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...Mel Pimentel May 26, 2016 Joan of Arc Joan of Arc was a story about a 17 year old farm girl who wanted to see the prince and tell him about the voices she hears, by the voices, it was god talking to her. After many times of her trying to meet the prince, she finally does so. Joan was anxious to tell the prince that the voices told her that she needed to help him get crowned as king of France as soon as possible in order to save her country from the English. She is not allowed to make any decisions at this point. Joan then convinced the prince into letting her go into battle and lead the soldiers to a victory. In the battle Joan was a smart and brave woman. Woman weren’t allowed to fight but she was eager to. She would write letters to the English dictators to just turn around and go home. They didn’t listen to her so she fought them until they turned around. Once she had France in advantage she tried to help out the prince becoming king. She went to court and she was treated like the lady in the room. She was excited for the kingdom to come and see the king get crowned, she tells them about the voices then. The king lets her do what the voices tell her. They taught she was crazy and that she was causing trouble. She was captured by the soldiers because they taught she was a witch and got locked up. She was tortured and put into a death situation. No one came to her rescue and the basically betrayed her. They kept asking her if she was a witch and she agreed to it, in order...
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...Alexandra Ortiz English 120 Professor DiFranco Essay #2 Sacramento Both Ernesto Galarza’s “Barrio Boy” and Joan Didion’s “Notes From a Native Daughter” write about Sacramento’s past. Both authors talk about Sacramento during two different time periods. Joan Didion talks about the mid-century and Ernesto Galarza talks about the early 20th century. Although both author’s perspective of Sacramento differs from era to era, there are differences in certain characteristics described by both authors. Galarza’s essay focuses on an immigrant point of view arriving into Sacramento versus Didion’s experiences as a native decedent of Sacramento. Joan Didion’s Sacramento is a very different place compared to Ernesto Galarza’s , for him it’s an immigrant place where Mexican, Yugoslavs, Chinese and many other different cultures come together to make one home. For Joan Didion, Sacramento is a place that with the pas of time and the changes that has come with time, have forced memories to be lost and most importantly identities. Didion highlights the true nature of Californian lifestyle and how with its gradual disappearance more than the past is being lost, but a new generation is also losing an understanding of its true roots, its true history and as a result a loss of knowledge. The loss of knowledge is equivalent to the loss of identity because if one doesn’t know where they came from how one can truly know who they are. Didion talks about her own experiences as a child in Sacramento...
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...In the novel The Catcher in the Rye by J.D. Salinger, Mr. Antolini (an English teacher) tells the protagonist, Holden Caulfield, "I have a feeling that you're riding for some kind of terrible, terrible fall" (pg. 168). This quote is terribly reflective of and true to Holden's experiences that he accounts in the novel. The entire novel is essentially Holden's account of the time between leaving Pencey Preparatory School and his institutionalization (which is revealed at the end of the novel). We can only assume that Holden has been sent to see "this one psychoanalyst guy" (pg. 192) because of his gradual mental breakdown or "fall" that is apparent throughout his narrative. This essay will recognize and trace the multiple signs, explanations and testaments of Holden's declining mental state. It is important to include Holden's past in this account and analysis of Holden's mental decline because Holden's past affects everything he does and contributes to his feelings of loneliness, depression and confusion. A supporting argument for this can be found by looking at causes for "mental breakdowns." Some common causes* of mental breakdowns that apply to Holden's particular case are: unresolved grief (as far as we know, Holden never received closure about his brother Allie's death or the suicide of a fellow student, James Castle.), academic problems (Holden failed out of three separate private schools), social stress (Holden tries and fails to connect to several characters such as...
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...Holden will not apply himself when he returns to school. It is empirically proven Holden will not change his behavior because he has been kicked out of multiple schools, he has never followed through on a statement of change before, he makes excuses instead of solving problems, and even after getting professional help at the end of the book, he still acts and thinks the same way, presenting no change. History proves that Holden will not change, which is why he will not engage himself when he returns to school. Some people say that Holden will apply himself in school, however, history proves that Holden will not change and will not apply himself in school. Holden will not apply himself when he returns to school because he has not applied himself before even after recently being kicked out of multiple schools. “They kicked me out. I wasn’t supposed to come back after Christmas vacation, on account of I was flunking four subjects and not applying myself and all. They gave me frequent warning to start applying myself-especially around mid-terms, when my parents came up for a conference with old Thurmer-but I didn’t do it. So I got the ax” (6). Holden refused to change his ways, even after being warned, showing he does not care about school and thus will not apply himself when in school. Pencey was not Holden’s first time being kicked out of a school: He has been kicked out of multiple schools, further proving the point that Holden does not care about school. Since the...
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