## Tuesday, June 30, 2020

### Accounting Questions Coursework - 825 Words

Accounting Questions (Coursework Sample) Content: Week Five ExerciseNameInstructorCourse Name and CodeDateQuestion one: Liquidity ratios * Compute the current and quick ratios for each of the three companies. (Round calculations to two decimal places) Which firm is the most liquid? Why?Item Edison Stagg Thornton Cash \$6000 \$5,000 \$4,000 Accounts receivable \$2,000 \$2,500 \$3,000 Short-term investments \$3,000 \$2,500 \$2,000 Inventory \$1,000 \$2,500 \$4,000 Prepaid expenses \$800 \$8,00 \$800 Total Current Assets \$12,800 \$13,300 \$13,800 Item Edison Stagg Thornton Notes Payable: short term \$200 \$200 \$200 Accrued payables \$3,100 \$3,100 \$3,100 Accounts payable \$300 \$300 \$300 Total Current Liabilities \$3,600 \$3,600 \$3,600 Edison Current Ratio \$12,600/\$3,600 3.50 Quick Ratio (\$6,000+\$3,000+\$2,000)/\$3,600 3.06 Thornton Current Ratio \$13,800/\$3,600 3.83 Quick Ratio (\$4,000 + \$2,000+\$3000)/\$3,600 2.50 Stagg Current Ratio \$13,300/\$3,600 3.69 Quick Ratio (\$5,000+\$2,500+\$2,500)/\$3,600 2.78 Comment: Thornton is the most-liquid company bec ause it has the largest inventory, and it can move its inventory quickly.Question Two: Computation and evaluation of activity ratiosAccounts Receivable Turnover Ratio = Net Credit Sales/Average Accounts Receivable= \$832,000/[(\$205,000 + \$156,000)/2]= 4.61Inventory Turnover Ratio = Cost of Goods Sold/ Average Inventory= \$530,000/[(\$70,000+\$50,000)/2]=8.83Question Three: Profitability ratios, trading on the equity * Compute the profit margin on sales ratio, the return on equity and the return on assets, rounding calculations to two decimal places.Profit margin on Sales Ratio = Net Income/Net Sales= \$130,000/\$1,750,000=7.43%Profit margin on the return on equity = Net Income/Average common stockholderÃƒ ¢Ã¢â€š ¬s equity= \$130,000/\$500,000= 26%Profit margin on the return on assets = Net income/Average Assets= \$130,000/\$1,200,000= 10.83% * Does the firm have positive or negative financial leverage? Briefly explain.The company has a negative financial leverage because of the \$120 ,000 interest rate, which shows that the company has a huge debt. The debt capital ratio is too high. Indeed, it appears that the company is operating mainly with borrowed funds.Question four: Horizontal analysis. * Prepare a horizontal analysis for 20X1 and 20X2. Briefly comment on the results of your work.Mary Lynn Corporation Horizontal Analysis Item Increase/Decrease 20X2 20X1 Amount Percentage Current Assets \$86,000 \$80,000 86,000-80,000= \$6,000 6,000/80000x100= 7.50% Net Property, Plant, and Equipment \$99,000 \$90,000 99,000-90,000= \$9,000 9,000/90,000x100= 10.00% Intangibles \$25,000 \$50,000 25,000-50,000= -\$25,000 25,000/50,000x100= -50.00% Current Liabilities \$40,800 \$48,000 40,800-48,000= -\$7,200 7,200/48,000x100= -15.00% Long-term Liabilities \$153,000 \$160,000 153,000-160,000= -\$7,000 7,000/160,000x100= -4.38% StockholderÃƒ ¢Ã¢â€š ¬s Equity \$16,200 \$12,000 16,200-12,000= \$4,200 4,200/12,000x100= 35.00% Net Sales \$500,000 \$500,000 500,000-500,000 0.00% Cost of Goods S old \$322,500 \$350,000 322,500-350,000= -\$27,500 27,500/350,000x100= -7.85% Operating Expenses \$93,500 \$85,000 93,500-85,000= \$8,500 8,500/85,000 x 100= 10.00% Comment: Decrease in long term liabilities show that the company has been repaying its debts. There is no change in net sales, but cost of goods sold has decreased. Furthermore, there is a increases in current assets, and a decrease in current liabilities, showing that the companyÃƒ ¢Ã¢â€š ¬s working capital has increased.Question five: Vertical AnalysisMary Lynn Corporation Vertical Analysis Item 20X2 20X1 Amount Percentage Amount Percentage Current Assets \$86,000 40.95% \$80,000 36.36% Net Property, Plant, and Equipment \$99,000 47.14% \$90,000 40.91% Intangibles \$25,000 11.90% \$50,000 22.73% Total Assets \$210,000 100.00%

## Monday, June 1, 2020

### The Reason I became a Physician Assistant in 20 Minutes and 46 Seconds

This is the video from our global medical mission trip October 2012. We were proud to serve over 600 people with combined medical and dental care. I have written several posts on the topic. It was an amazing experience and every time I need a reminder of why I love my job, I just look at these pictures. I encourage each and every Physician Assistant I meet to take a trip like this. And then take 10 more. It will change your life in ways I cannot begin to describe. It will make you a better, more balanced person! Since returning I have a renewed passion for my work, and I am proud of my kids as they continue to ask the questions about these children and theirfamilies. My 5-year-old daughter now says when she grows up she "Wants to be a person who helps poor people and the Haiti kids." Honestly,this is the best thing a dad can hear. I hope that 2013 brings continued joy. My thanks to the amazing Brad Ingram, my dear friend and awonderfulPA who organized this whole adventure. You can see all the photos here. All photos by the amazing: Courtney Reese! You may also like -Most Social Problems Do Not Have a Quick Fix When Good Intentions Are Not Enough As I prepare for my first medical missionstrip to Haiti I question my intentions. I fear that this trip may turn out to be less about helping (because who can help anybody in a week) and more []Working as a Physician Assistant in Haiti: Organization Logisticshttps://youtu.be/dVOWpLo4gpo This video is from the wonderful FREE EdX course:The Practitioners Guide to Global Health The idea of workingoverseasas a physician assistant had always perplexed me. The laws governing PAs and []My First International Trip to Haiti as a Physician Assistant PreperationThis post is the first of aseries I am excited to be going to do some work in Haiti this October. My whole life I have wanted to do medical work overseas and now I am seeing a dream fulfilled. I will be flying from San Francisco []

## Saturday, May 16, 2020

### The Transition Of Vampires By Cole Bowman - 1462 Words

The Transition of Vampires from 1897 to 2006 Anai Rios Alcala English IV Mrs. Proctor May 8, 2017 What are vampires? Well there are many myths out in the whole world of vampires. Vampires are creatures that are dead yet still walk among the living; all vampires have fangs, they are afraid of the sunlight, they can shape-shift and they drink the blood of their victims. People say vampires are human corpses that return from the grave to harm living and others say they are not humans at all that vampires are supernatural, demonic creatures and not human form. What is evil? Evil is what is morally wrong, sinful, or wicked. Vampires can be categorized as evil as said in the article Ã¢â‚¬Å"WhatÃ¢â‚¬â„¢s Evil, Anyway?Ã¢â‚¬  by Cole Bowman. VampiresÃ¢â‚¬ ¦show more contentÃ¢â‚¬ ¦In this novel DraculaÃ¢â‚¬â„¢s interaction with other humans is not great because he never goes out of his castle unless he has an evil plan against someone. Dracula has been described in many ways as a young man or even as an old grumpy man. In this book, Bram Stoker described Dracula by stating, Ã¢ â‚¬Å"Within, stood all man, clean shaven save for a long white moustache, and clad in black from head to foot, without a single speck of colour about him anywhereÃ¢â‚¬ . He described a man who looked neat and clean but with no color as in he looked pale. As we get to know more of DraculaÃ¢â‚¬â„¢s appearance in this novel he seems more unique and not so much like a human. (Stoker 160). The writer also stated, Ã¢â‚¬Å"His face was a strong-a very strong-aquiline, with high bridge of the thin nose and peculiarly arched nostrils.... cruel-looking, with peculiarly sharp white teethÃ¢â‚¬ . (Stoker 18). Back in the old centuries people really did not know how vampires looked but now in modern days as we hear the word vampires we imagine a man dressed in black with pale skin and sharp teeth. Count Dracula was seen an evil creature who bit people and took their soul. What is the description of a perfect man? A perfect man is someone who cares about his love one and protects his more precio us person in the world. In the book Ã¢â‚¬Å"TwilightÃ¢â‚¬  Edward Cullen can be described as a perfect man by Bella. When Bella and Edward met, she did not know who he really was. They both had a connection towards each

## Wednesday, May 6, 2020

### Auditing & Assurance Quality Review Focus Area

Question: Discuss about theAuditing Assurancefor Quality Review Focus Area. Answer: Introduction Analytical evaluation of the article published on the ASIC and the Quality Review Focus Area reveals significant areas of audit performance. Besides this, the process of quality review helps in divulging the important issues that need to be recognized by means of the Australian Quality review program along with the consideration of the primary areas of audit quality recognized by the Australian Securities as well as Investment Commission (William Jr et al. 2016). Thus, this helps in maintenance of surveillance, scrutiny as well as enforcement of proper financial reporting as well as auditing requirements of the Corporation Act. As per teams viewpoint, the key audit areas along with the key issues presented in a structured manner can help in recognizing important information (Basu 2016). This in turn can assist in comprehending as well as applying specific requirements of audit. Moving further, the current segment also critically examines the importance of audit areas selected by ASIC and the importance of the emphasized areas for maintenance of quality of audit. From the standpoint of the team, it can be hereby mentioned that the presentation of the focus areas can help the auditors in providing suitable systems as well as procedures. However, this in turn can permit them to conduct independent as well as superior quality audit (Knechel and Salterio 2016). According to the team, the key audit area of investigating the procedure of documentation in addition to evidences is obligatory for focusing on the entire substance of the work. As such, this too helps in checking whether there are sufficient audit evidence on particularly the engagement file for supporting the conclusive results related to key decisions as well as important judgements of the auditor (Knechel and Salterio 2016). Audit of professional scepticism can help the auditors in checking the probable material misstatements in the financial declarations owing to fraudulent actions. Again, dependence on other auditors is another area that needs to be reviewed as it is important to consider the competence as well as expertise of the other auditors reviewing the work before relying on them. Furthermore, as per the viewpoint of the team, it is justified to assess the internal control as this assists in designing appropriate procedures for delivering feasible assurance as regards a ttainment of functional objectives, namely, the effectuality as well as efficiency of business functions (Basu 2016). As per the viewpoints of the team, the mention of the audit areas such as comprehending business models, financial reporting along with supervision in addition to review can help in maintaining compliance with the quality of audit as well as auditors independence obligations. Again, the accountabilities of the auditor can be related to the fraudulent activities in an audit. References William Jr, M., Glover, S. and Prawitt, D., 2016. Auditing and assurance services: A systematic approach. McGraw-Hill Education. Basu, S.K., 2016. Auditing Assurance. Pearson Education India. Knechel, W.R. and Salterio, S.E., 2016. Auditing: assurance and risk. Routledge.