KLP Corporation

(Assume all purchases are made in cash unless otherwise stated and that KLP has a December 31st fiscal year-end)

KLP Corp. specializes in servicing and repairing diesel engines and restoring cars for clients.  Kris, the CEO, began financing operations on January 1, 2013, with an initial personal investment of $250,000.  The corporation immediately spent $30,000 cash on an initial deposit for a garage and office to base its operations, signing a $200,000 10-year 4% mortgage for the remainder of the payment.  The mortgage is a special mortgage with interest payable on January 1 of each year and the entire principal due upon maturity (both the garage and office have a useful life of 30 years).  KLP also used $75,000 of cash to purchase equipment that Kris estimated can be reused in repairs and restorations for up to 5 years, as well as $10,000 of garage supplies (oil, lubricant, auto parts) that are single-use in the ordinary course of repairs and restorations.  The garage supplies were purchased on credit with a supplier that extended KLP terms that allow Kris to pay at the end of the three months.  KLP purchased a computer for $2,300 as well as a $200 software system that helps him keep track of client service request, invoices and bookkeeping for the business—the computer is assessed to be usable for three years and the software relevant for the companies needs for two years.  Finally, KLP Corp. prepaid $36,000 for a three-year insurance contract covering the business for common protections.  All of these purchases took place during the month of January with KLP Corp. officially opening for business on February, 1 2013.

During the first three months of business, February to April, KLP Corp. performed repairs amounting to $80,000 in sales and restorations for $5,000 in sales.  $55,000 of these revenues were paid in cash with $30,000 paid for on credit by a local business who signed a contract to use KLP’s services on credit terms.  These services used up $7,500 of garage supplies.  KLP Corp. paid off the original order of garage supplies that it had purchased on credit and placed a second order for $25,000 of garage supplies that were shipped by the end of April.  KLP Corp. signed a payable for these garage.  On April 30, KLP Corp. spent $2,000 developing and filing the proper legal fees for a company trademark and placed a $24,000 cash prepayment for 12 months of advertising to increase sales.

During the next eight months, KLP Corp. performed $280,000 of repairs and $15,000 of restorations.  Again, $245,000 of these sales were paid in cash, while $50,000 were paid in credit by local businesses with credit agreements.  KLP had collected $60,000 cash on these credit sales by the end of the year.  Kris had $9,500 of garage supplies remaining after performing repairs and restorations over the eight months and paid off $22,000 of its outstanding payable.  At the end of year, KLP assessed its bad debt expense at $4,500.  KLP uses straight-line depreciation on all its fixed assets.  No impairment was deemed necessary on its trademark.  KLP Corp. faces a 40% marginal tax rate.

On January 1, 2014, William, a financial broker, became Kris’ partner, investing $250,000 in the business. KLP expanded its garage by purchasing a neighboring garage bay for $50,000 cash and hiring employees to accommodate its expanding clientele.  KLP also ordered $50,000 worth of garage supplies on credit with payment due at June 1, 2014.  KLP did not renew its advertising contract, believing that it had established a name.  KLP paid all taxes that were due from the prior fiscal year.

By June 1, KLP’s sales had exceeded expectations with its repairs, registering $300,000 in repairs and $17,500 in restorations, using $45,000 of garage supplies.  $250,000 of these were paid in cash and $67,500 paid on credit.  KLP sold equipment originally purchased for $15,000 that had accumulated $4,000 of depreciation for $9,000 cash.  KLP replaced the sold equipment with a $30,000 new machine on June 1 and made repairs to some preexisting equipment for $10,000.  Also on this date, Kris and William reached a mutual decision to discontinue its flagging restorations segment of business.  Again, KLP paid off its existing accounts payable and purchased another $30,000.  KLP also established a new prepaid contract with a local company, agreeing to repairs its trucks over a period of one year for $150,000 paid on June 1, the contract entitles the customer to unlimited repairs over the period.  Also on June 1, William invested $75,000 in debt securities and $40,000 in equity securities.  William suggested KLP Corp. hold $50,000 of the debt securities as held to maturity and the remaining $25,000 debt securities as available for sale (all debt securities had a maturity of 20 years and were issued at par, indicating no premium or discount, both issues have a 3% stated rate payable January 1 of each year).  The equity securities were all classified as trading securities.

William correctly suggests the following journal entry for these securities:

Trading Securities – Equity Securities                          40,000

Available for Sale Securities – Debt Securities            25,000

Held-to-Maturity Securities – Debt Securities              50,000

            Cash                                                                            115,000

 

In the final seven months of business, KLP performed $425,000 of repairs and $11,500 in restorations, all of these services were paid in cash and used up $25,000 of supplies.  KLP paid off all outstanding supply contracts and collected $45,000 of its credit sales.  It assessed its bad debt expense at $3,000 for the year.  The additional garage space is being depreciated over 29 years (to match the useful life of the original space).  The additional equipment purchased this year is expected to last only three years.  KLP paid its employees $90,000 for their services and promised a $10,000 bonus on January 1, 2015.  William and Kris withdrew $20,000 each at the end of the year.  The available for sale securities had an unrealized net loss of $2,000 in value and the trading securities had an unrealized net gain of $4,500 in value, while its held-to-maturity securities had an unrealized net gain of $1,000.   

Its discontinued restorations segment has a net book value of $30,000 and had an assessed fair market value of $23,000 on December 31 and remains unsold (the drop in the fair market value relative to the book value is due to some of KLP’s equipment).  William assessed that the discontinued division had revenues of $11,500 after the decision to discontinue and attributed 10% of all operating expenses to the operating of the discontinued division after the decision to discontinue.

William provided the following entry to record the impairment of the division and the closure of the AFS loss account (since he realizes you, as their bookkeeper, have not had Intermediate II just yet!):

Impairment Loss                                                          7,000

Accumulated Depreciation-Equipment                                    3,000

            Equipment                                                                   10,000

 

Accumulated Other Comprehensive Income               1,300

Deferred Tax Asset                                                      700

            Unrealized Holding Loss on Available for Sale                       2,000

 

After some finagling by William, KLP Corp. faces an effective tax rate of 35%.

 

 

Assignment #1

Provide journal entries, closing entries and adjusting entries for 2013 and 2014. (14 pts)

Provide an unadjusted trial balance for 2013 and 2014. (4 pts)

Describe any difference between recording KLP’s equipment and KLP’s supply accounts.  Why is it important to make this distinction (address how these differences affect affect adjusting entry and financial statements)? (2 pts)

Assignment #2

Provide a balance sheet for 12/31/13 and 12/31/14 and an income statement for the years 2013 and 2014. (16 pts)

If KLP believed its new machinery, added in 2014, would bring in 70% of its revenue generating ability in the first year and 15% in the years thereafter, would you suggest straight-line depreciation?  What alternatives are available?  (hint: consider the matching principle and use it to explain your response) (4 pts)

Assignment #3

Provide a statement of cash flows for 2013 and 2014. (20 pts)

 

 

 

 

 

ZXY Corporation has relocated to a new building that was wired and set up for a local area network (LAN). The company implemented a client/server-based network in which all printers, folders, and other resources are shared but everyone has access to everything and there is no security outside of the defaults that were in place when the system was set up.

 

You have been hired to secure ZXY’s network and ensure that the company has the highest levels of security to protect against internal and external attacks. In an 8-10 page proposal, include the following items to provide a comprehensive secure environment:

 

1.     A plan to provide secure access control methods for all user access

 

2.     A viable password policy, which includes complexity, duration, and history requirements

 

3.     A cryptography method to ensure vital data is encrypted

 

4.     A remote access plan to ensure that users who access the network remotely do so in a secure and efficient manner

 

5.     A thorough plan to protect the network from malware and various types of malicious attacks

 

Your proposal should include all of the elements noted above with support, detail, and elaboration for each section explicitly grounded in knowledge from the assigned readings and media along with any outside sources you may choose to bring into your writing.

 

Your paper should be 8-10 pages in length with document formatting and citations of sources in conformity with

 

 

 

 

 

 

 

 

 

 

I need complete solution step by step full and 100% correct solution .all information in below attachment .

Defining Social Justice

Social justice has been defined in different ways, but the definitions usually include similar ideologies. As you study the concept of social justice, you will come across some of the following ideas:

  • Historical inequities that affect current injustices should be corrected until the actual inequities no longer exist or have been perceptively "negated.”
  • Wealth, power, and status should be redistributed for the good of the individual, the community, and the society.
  • It is the responsibility of the government (or those who hold significant power) to ensure a basic quality of life for all its citizens.

From country to country social justice is defined in different ways, and the definitions usually include ideologies as well as differences. Research the definition of social justice in the United States using your textbook, the Argosy University online library resources, and the Internet. Select another country to examine its definition of social justice in order to analyze the ideologies and similarities using the following steps:

  1. Analyze the ideologies.
  2. Identify the similarities.
  3. Using your reasoning skills, give supporting statements or arguments that support your position(s) about the social justice.

Your comparing and contrasting must consider the following:

  • Historical values and ideologies of the country
  • Economic structure of the country
  • Discrimination issues, if any exist

Develop a 2–3-page analysis of the definitions of social justice in the U.S. and a country of your choice. Analyze the ideologies, identify their similarities, and explain how these factors support your statements or arguments about the social justice you've selected. Support your explanations with a minimum of two scholarly sources in addition to the course text and apply APA standards to citation of sources. 

Imagine you are cultural anthropologist searching for a hidden time capsule from both the Renaissance and the Age of Baroque. In each capsule it is rumored that there is at least one example of each of the following items locked inside:

  • Art
  • Music
  • Descriptions of drawings or architecture
  • Philosophy
  • Literature

Write a 1000- to 1200-word paper describing which examples you would expect to find and how each of your examples reflects world events and cultural patterns of the time. In other words, what does each example tell us about the time period to which it belonged? Based on what you know about the Renaissance and Baroque periods, how does the art, music, architecture, philosophy, and literature capture the tenets, spirit, ideology, thinking, concerns, aesthetics, politics, cultural and social mores, etc. of the period?

Format your paper consistent with APA guidelines. Note: You must use your course text as a reference for this assignment. This means that you should include quoted or paraphrased text from your readings to support your discussion of the assignment topic. Course readings should be acknowledged with an in-text citation.

 

 

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Discussion 1

"The Difficulties of Writing Policy"  Based on the lecture, address the following:

·         Analyze the role ambiguity plays when there are conflicting policy goals. 

·         Explain how ambiguity helps promote policy making and how goal ambiguity makes policy design more difficult.

 

E Activity

·         Review and trade-offs between liberty and security at http://www.pbs.org/now/politics/civilliberties.html, NOW: Civil Liberties and National Security athttp://www.pbs.org/weta/crossroads/about/show_security_vs_liberty.html and Security vs. Liberty: The Other War. Be prepared to discuss.

 

Discussion 2

"Trade-Offs"  Please respond to the following:

·         Using the e-Activity, the student will respond to the following: Take a position on the following and provide support for your position from the debate over the USA PATRIOT Act described in the Chapter 8 case study. Do you agree that greater security must come with less freedom?

 

 

this is the pre Assignment. the rest of the assignment is due a week later on the 9/22/2015. I also attached that one as well to this because it all ties together. Let me know if you have any questions about this and if you can open the link attached in it as well... Thanks a bunch.. price will be discussed.

 Let me know the price:

Case Study Paper Instructions

 

There are many methods available for conducting research, one of which is a case study. The purpose of this assignment is for you to learn how to conduct and complete a case study.

 

 

 

Instructions: Answer the following 4 questions using current APA style throughout. This includes your title page, appropriate vocabulary and sentence structure, introductory statement, citations, page numbers, levels of headings throughout the document, and consistency between your citations and references. Use your textbook, the current APA manual, and any other scholarly sources you might find. This assignment must have 2–4 pages of text, not including the title page or the references. Give the answers to these questions in your own words and with your own explanation. Cite and list your various sources as references. Create a unique heading in your paper for each of these questions so as to be clear about which item you are answering.

 

 

 

  1. What is a case study?

  2. What are some reasons for using a case study approach?

  3. What are advantages and disadvantages of this approach?

  4. Where, or in what ways, can a researcher acquire information/data that can be used for a case study? In other words, what are some various sources for information that a researcher can use in a case study? Note: For question 4, these are 2 ways of stating the same question; these are not 2 separate questions.

 

 

 

Submit your Case Study Paper by 11:59 p.m. (ET) Monday of Module/Week 5.

 

If I borrowed $5 dollars from Billy in March 1993, how much would I owe Billy now with interest; 22 years later?