...Restructuring Debt Part A: Through reporting all types of long term debt, there are certain requirements that must be made. There are three main categories that long term debt can be divided into, which include bonds, notes payable and capital leases. For all long term notes and bonds, they are “valued at the present value of its expected future interest and principal cash flows. The company amortizes any discount or premium over the life of the note” (Kieso, Weygandt, & Warfield, 2007, p. 685).Provided below is the comparison on what is required through reporting bonds, and other long term loans. One of the main types of long term debt is bonds payable. Bonds are a type of debt that represents a promise to pay back a certain amount of money by a maturity date, along with periodic interest that has accrued from the face value. Through bonds, companies are required to report certain things while attaining bonds. These requirements are to state the interest rate of the bond, if the bond has a discount or premium, the effective yield or market rate, the amortization accrued. If a bond were to have a discount, then this would increase the bond interest expense, whereas a premium would decrease the bond interest expense. For any unamortized bond issue costs, they must be amortized over the life of the debt and treated as a deferred charge. There are many covenants or restrictions for bonds. For long term notes payable, they are similar to the bonds, in that their value...
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...Income B-4 Taxes Tax Expense (40%) Net Income 240,000 96,000 144,000 NOTE: adjustments to error corrections are always after tax (AT). JE’s needed: DR Retained Earnings Accumulated Depreciation 15,000 15,000 CR Retained Earnings Inventory 21,000 21,000 Dividends (Retained Earnings) Cash Dividends Payable 100,000 75,000 25,000 Lee Corporation Retained Earnings Statement for the year ended December 31, 2007 January 1, as reported Correction for depreciation error (net of $10,000 tax) Cumulative decrease in income from change in inventory methods (net of $14,000 tax) Balance, January 1, as adjusted Add: Net income $ 225,000 (15,000) (21,000) $ 189,000 144,000 $ 333,000 (100,000) 233,000 Less: Dividends declared Balance, December 31 Part #2: 200412-31 200512-30 Canadian December 31, Friday December 30, Friday 0.830979 USD 0.857927 USD 2006- December 29, 0.858222 12-29 Friday USD 2007-12-31 December 31, Monday 1.01204 USD ** Foreign Currency Translation Year 2004 2005 2006 2007 Amount in US$ 100,000.00 103,780.00 100,040.00 82,290.00 Adjustment 0 3,780.00 40.00 (17,710) Factor (US) 1.2034** 1.1656 1.1652 0.9881 Rounding and with 4 decimal places. **Notice that a Canadian dollar buys only .830979 cents of US dollar. Hence, to get what $1 buys in Canadian dollars you need to go from the Direct vs indirect quote: === 1.2034 = .1/.83098. The difference between rates will determine the gain/loss....
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...Overview Sara Lee Corporation has a vision “to be the first choice of consumers and customers around the world by bringing together innovative ideas, continuous improvement and people who can make things happen.” The company’s vision can be summed up simply with their mission: “To simply delight you…everyday.” The company has been trying to achieve these goals since 1939 when the company began. Sara Lee employs a broad differentiation strategy, and has been diversifying since inception, mainly by acquisition. In 2005, the company, in an effort to raise profitability, began to divest eight of its business. The company’s goal was to increase sales to at least $14 billion, and increase operating profit to 12%. The idea was to focus efforts on the good, beverage and household product industry, which were seen as more profitable, and profits would increase. In 2008, Sara Lee launched an initiative called Project Accelerate. This program was designed to cut costs and increase productivity by focusing on overhead costs, streamlining the supply chain and outsourcing. It is expected to save of sum of $350 to $400 million by the end of 2012. By 2010, Project Accelerate had saved the company $180 million. The management team also decided to buyback $2.5 to $3 billion of common shares over a three year period. Despite their efforts, by the end of 2010, Sara Lee has revenues of just $10.8 billion and the operating profit margin was well below the target 12% at 8.5%. In an attempt to boost...
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...Company profile Company name: Sara Lee Corporation Company Address: 3500 Lacey Road Downers Grove, IL 60515 United States Phone: 630-598-6000 Fax: 630-598-8482 Website: http://www.saralee.com CEO/President: Brenda Barnes Founding Year: 1939 Product line Breath: Sara Lee Corporation’s product line mainly consists of food, beverage and household products. ▪ Food & beverage (SLFB) division include Ball Park franks, Dean Sausage, Hillshire Farm deli meats, Sara Lee Breads & bakery products, Sara Lee frozen desserts and Senseo single serving coffeemakers and coffee pods. ▪ Household & body care products include Ambi pure air fresheners, Kiwi shoe care products & Sanex personal care products. Sara Lee also provides Foodservice to their customers. Branches: Sara Lee operates more than 40 countries such as USA, Australia, Newzeland, Netherlands, Philippines & etc. Key competitor: Hostess Brands, Inc; Kraft Foods Inc. (kft); Tyson Foods, Inc. (tsn) Mission: To simply delight you……everyday. Vision: To be the first choice of consumers and customers around the world by bringing together innovative ideas, continuous improvement and people who make things happen. Objective of the company: |Financial Objective |Strategic Objective ...
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...Employment-At-Will Doctrine Kimbla Gordon Eaton LEG/500 October 31, 2013 Professor James P. Laurie III, Esq. Employment-At-Will Doctrine This paper will include a summary of the Employment-at-will Doctrine. As a review for understanding the paper will evaluate eight scenarios facing the writer as the new Chief Operating Officer (COO) of a medium size establishment. Additionally, the COO will make a recommendation to institute a whistleblower policy giving three essential components of the policy. Finally, the COO will give her rationale for each of the components chosen for the whistleblower policy. Summary of the Employment-At-Will Doctrine Employers have a right to terminate its relationship with any of its employees at any time. The essence of the employment-at-will doctrine gives employees this privilege. When there is not retaliatory or discriminatory reason which links the employer’s decision to the termination of one of or all of its employees the employer is exercising a lawful and permissible right. Furthermore, Title VII which is the Civil Rights Act of 1964, gives employers a guideline by which to follow to avoid discriminatory dismissals of employees (Halbert & Ingulli, 2012). Though terminating employees is the right of the employer with or without cause for the dismissal, it could be very costly to the employer if the termination is not handled appropriately. Employers have to consider union and non-union employees...
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... Torts and Liability Torts arise when negligent activity by one individual to another individual results in injury or liability from the action. The negligent party owes a duty of responsibility to provide recourse in the form of reimbursement through monies or other court appointed determinations as restitution for the negligent act. Tort cases are mostly negligent acts that involve suits heard in civil court. Tort cases are brought forth by private citizens, whereas criminal acts involve prosecution by the government. The tort acts demonstrated in this scenario involve bodily harm from negligent acts, defamation of character, and negligence for safety, medical malpractice, and broken promissory note. Scenario One Synopsis The scenario one contains several torts that involve damage, injury, and wrongful acts that involve potential civil lawsuits for strict liability. The scenario begins with a Daniel and his eight year old son Reuben attending a football game. The quarterback receives an injury from a player on the opposing team. The quarterback could file a lawsuit against the opposing team member for the injury as an act of bodily harm but the defendants defense states a circumstance that comes with the occupation of playing football. The quarterback can file a workman’s compensation claim against the owner of the football team for damages sustained while working because his occupation is playing football. The owner of the team would be responsible...
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...these people are involved in. In 2002, people around the world bought 14 million lbs of coffee, while around 17 million lbs was grown. This over production isn’t usual and leads to variation of price in the entire coffee industry. A world wide known firm, Starbucks, is the most popular corporation in today’s market. It is known for controlling a major part of coffee that’s being produced. In fact, Starbucks is the lead corporation in retailing of this product. It offers people a special braded coffee. They start by purchasing, roasting and then finally selling whole coffee beans and rich brewed coffee, espresso drinks, cold-blended drinks, and a variety of fresh made items, equipments, and a wide variety of high-quality teas. They have more than 9000 retail locations worldwide. When people consider coffee, Starbucks has gained a worldwide name by leading with high success. It was mentioned in a news article that Latin America is where Starbucks has been producing huge amounts and quality of coffee for ensuring sustainability in supplying. “Starbucks CEO, Orine Simth, told that the alliance is part of their brand’s practice for passing the ‘high price’ of cup of coffee to farmers.” (Lee, 2005). In his explanation, he stated that the high prices enable then to make a high payment to the farmers, who produce coffee around the world. Through this alliance, they aim in buying 60% of its coffee...
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...University of Phoenix BUS/415 Steven Lee August 08, 2010 Restaurant/Bar Scenario Business Entity, Control, Taxation and Liability As per the scenario, Lou and Jose plan to open a sports bar and restaurant, the best business entity choice for this restaurant and sports bar is the partnership firm because Lou, Jose and Miriam are the three persons who want to start the business in return for a percentage of ownership. Lou and Jose will take care of business operations and Miriam will invest money. Miriam will allow to Lou and Jose to keep control on business activities by sharing profit with them, so it would be considered as the partnership firm (The General Partnership, 2010). In a partnership firm the all the business decisions are taken by the conformance of all the partners. In this scenario, Lou and Jose are the main controllers and their partnership is general partnership but Miriam would not have any control because he is giving money in to earn profits only (Liability for partnership debts, 2010). According to the taxation policy of USA, in a partnership firm the tax will not incur on profit before distributing to the partners. In partnership business entity, the tax would be paid by the individual partners after distributing the profit among them (The General Partnership, 2010). According to the common law, in this partnership business entity, the liability of Lou and Jose is unlimited for the business...
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...Topics & Objectives 1. Legal Environment Explain the relationship between business and the legal environment. Evaluate the social responsibility of business practices. Describe the stages of a civil case. 2. Torts Assess business situations for tort liability and defenses. 3. Contracts and Commerce Describe the elements of a valid contract. Explain the application of the Uniform Commercial Code to commercial transactions. Differentiate between types of interests in property. 4. Business Organizations Differentiate business entities by their advantages and disadvantages. Explain the actions which may result in the piercing of the corporate veil. Describe the formation and dissolution of a corporation. 5. Employment Law Government Regulation Describe the evolution of employment law. Explain government regulation of employer-employee relationships. Describe laws protecting intellectual property, environment, and consumer rights. Distinguish between employees and independent contractors. Course Materials See eCampus. Facilitator Information Facilitator Name: Geoffrey Hawkins, JD Email Address: ghawkins1@email.phoenix.edu Phone Number: (702) 203-4529 Facilitator Availability: I will respond to calls...
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...Organizational Change of the Chrysler Corporation in the 1978 Bailout and Lee Iacocca Dustin T. Embler BA 401 Research Paper/Case Study Abstract In the year 1978 one of the United States largest corporations was on the brink of financial crisis, the Chrysler Corporation. Hundreds of jobs, billions of taxpayer dollars, and the success of an American company all lay in the balance. Chrysler was overcome in debt due to its subpar decision making, increasing government regulations, and inability to compete with its domestic and foreign competition. Nevertheless, a hero arrived when Lee Iacocca joined as President of Chrysler to aid to its recovery in such adverse times. Fighting his way through the United States legislation for financial assistance to save Chrysler, Iacocca is able to successfully get the necessary legislation passed that will not only help him keep the company afloat but to also change the entire organization into a successful and profitable business in a matter of years. History of the Chrysler Corporation and Lee Iacocca “The Chrysler Corporation was founded in 1925 by Walter P. Chrysler, a former railroad mechanic who rose through the ranks of GM to lead the highly successful Buick Division. Chrysler did not get along well with William Durant, the founder and head of GM, and eventually left to form his own company (Braun).” “Always short of capital in this capital-intensive business, Chrysler was forced to build its cars largely of purchased parts...
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...BUSINESS 111 FALL 2011 NON-BBA FINAL EXAM REVIEW GUIDE Final Exam Date: FRIDAY, DECEMBER 9TH, 2011 Exam Time for WLU Students: 7:00 p.m. – 9:30 p.m. Exam Time for UW Students: 7:30 p.m. – 10:00 p.m. Writing Locations posted at https://www.wlu.ca/~mibrahim/exams/FALL2011/BUSINESS.html Important Notice: If a student cannot write a business or economics final exam as scheduled, they must submit a "Petition for Exception to Academic Regulations" form to Ms Lee Leeman, Student and Petitions Coordinator, SBE1256. Supporting documentation will be required and verified. This permits equitable treatment for all students taking SBE courses. If appropriate circumstances are presented with appeals, students will be accommodated on either the SBE slip day or the next exam session. Exam Format: 20 Multiple Choice questions = 1 mark each 6 Short Answer questions, 2 to 6 marks each, choice in 1 question = 25 marks 7 Quantitative problems, 3 to 6.5 marks each, choice in 1 question = 35 marks 80 marks total TOPICS TO BE COVERED: (Items listed in red indicate quantitative problems) Economic Factors - four pillars of Canadian financial system – description, roles - Bank of Canada - description, tools for affecting money supply - bonds – characteristics (return, term, priority over stockholders), types, features, factors affecting price, calculating approximate yield to maturity, relationship between prevailing interest rates and bond prices, reading bond...
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...BMGT 380 Final Examination Question and Answers Follow Below Link to Download Tutorial https://homeworklance.com/downloads/bmgt-380-final-examination-question-and-answers/ For More Information Visit Our Website ( https://homeworklance.com/ ) Email us At: Support@homeworklance.com or lancehomework@gmail.com 1. Sam orally agreed to sell Ramie some land for $500,000. Ramie paid Sam the $500,000; Sam gave Ramie the deed to the land. Ramie took possession of the land and began building a cabin on it. One month later, Sam tried to retake possession of the land by arguing that the contract for the sale was invalid because it was oral, not written. Sam sued Ramie to invalidate the contract and retake the land. The court will likely conclude that Sam will: a) Win; the sale exceeded $500 so the contract must be written to be valid. b) Win; all land sales contracts must be written. c) Lose; because the contract was fully executed Sam cannot rescind the contract. d) Lose; because Ramie had begun building a cabin on the property, Sam cannot rescind the contract. 2. On Tuesday, Sam offered to sell his CD collection to Sandy for $100. Sandy replied, "I’m interested. I’ll think it over and let you know Thursday whether I want to buy the CDs." On Wednesday, Sam agreed to sell the CDs to Jason, and Jason immediately gave Sam a letter that stated: "Sam, I will buy your CD collection for $100. As we agreed, I will pay you on Friday when I pick up the...
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...BMGT 380 Final Examination Question and Answers Follow Below Link to Download Tutorial https://homeworklance.com/downloads/bmgt-380-final-examination-question-and-answers/ For More Information Visit Our Website ( https://homeworklance.com/ ) Email us At: Support@homeworklance.com or lancehomework@gmail.com 1. Sam orally agreed to sell Ramie some land for $500,000. Ramie paid Sam the $500,000; Sam gave Ramie the deed to the land. Ramie took possession of the land and began building a cabin on it. One month later, Sam tried to retake possession of the land by arguing that the contract for the sale was invalid because it was oral, not written. Sam sued Ramie to invalidate the contract and retake the land. The court will likely conclude that Sam will: a) Win; the sale exceeded $500 so the contract must be written to be valid. b) Win; all land sales contracts must be written. c) Lose; because the contract was fully executed Sam cannot rescind the contract. d) Lose; because Ramie had begun building a cabin on the property, Sam cannot rescind the contract. 2. On Tuesday, Sam offered to sell his CD collection to Sandy for $100. Sandy replied, "I’m interested. I’ll think it over and let you know Thursday whether I want to buy the CDs." On Wednesday, Sam agreed to sell the CDs to Jason, and Jason immediately gave Sam a letter that stated: "Sam, I will buy your CD collection for $100. As we agreed, I will pay you on Friday when I pick up the...
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...Section 7: Conclusion Section China and the World: Scenarios to 2025 7 Conclusion Given the importance of China today, there can Wild cards are low probability events which be no doubt that the determination of Chinese would have a significant impact if they were to leadership to maintain the course of reform will occur. In the case of China they could include : be a decisive factor in the global future. It is • A possible Taiwan conflict : equally true that the support of other global How would China react if Taiwan were to players and their preparedness to welcome declare independence ? For many years China in its gradual rise in greatness will have a independence was not an issue as the direct impact on how China emerges. Given the Kuomintang rulers of Taiwan claimed they close connection between China and global were the real government of China and welfare, these scenarios indicate that outsiders had no interest in relinquishing their claim must appreciate the scale of the challenges on sovereignty. But independence has faced by the government in Beijing, and that become an issue with the rise of generations those in China need to comprehend the born and raised on the island. They have sensitivities of outsiders to its rise. successfully established democratic rule and some do not want to be subject to rule Raising awareness of differing sensitivities is an important role that scenarios can play. from a distant capital. The implications of...
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...to provide safe quality of care. Should nurses fail to uphold certain standards and by doing so cause harm or injury to the client, they would be held liable in the tort of negligence. Description of a practical situation which raised ethical issues: Mr Lim 70 years old has been hospitalised for medical treatment with the diagnosis of chronic heart failure. He was ordered intravenous therapy by Dr Peter the medical resident. Nurse Su questions the order because it is for an infusion of Dextrose 50%. Dr Peter tells her that he checked it with Dr Lee, the medical officer. Nurse Su checks it with Nurse May before administration. Later, Mr Lim has a cardiac arrest and suffers extensive brain damage as a result of the infusion. The hospital inquiry is held and it determined that the correct infusion would be Dextrose 5%. Mr Lim’s family members are very upset and seek legal advice. All names mentioned in the above scenario are pseudonym. Identification of the ethical issues within the situation: Negligence Negligence is the breech of an obligation or duty to act with care, or failure to act as a reasonable or prudent person under certain circumstances. Negligence is established as an unintentional tort alleged when one may have performed or failed to perform an act that a reasonable person would or would not have done in similar circumstances. (Judson & Harrison, 2010, p. 69). To enforce tort of negligence, the basic elements of tort of negligence must be established...
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