ACC 543 ENTIRE COURSE
ACC 543 Exercise 18-17B: Process Cost System Cost of Production Report
Exercise 18-17B: Process Cost System Cost of Production Report At the beginning of 2004, Dozier Company had 1,800 units of product in its work in process inventory, and it started 19,200 additional units of product during the year. At the end of the year, 6,000 units of product were in the work in process inventory. The ending work in process inventory was estimated to be 50 percent complete. The cost of work in process inventory at the beginning of the period was $9,000, and $108,000 of product costs was added during the period. Required Prepare a cost of production report showing the following. a. The number of equivalent units of production. b. The product cost per equivalent unit. c. The total cost allocated between the ending Work in Process Inventory and Finished Goods Inventory accounts.
ACC 543 Week 1 Individual Textbook 4.16, 4.18, 4.20
Relevant Cost and Decision Making
Make or buy Yoklic Corporation currently manufactures a subassembly for its main product. The costs per unit are as follows:
Regina Corp has contacted Yoklic with an offer to sell it 5,000 subassemblies for $55.00 each.
Should Yoklic make or buy the subassemblies? Create a schedule that shows the total quantitative differences between the two alternatives.
The accountant decided to investigate the fixed costs to determine whether any incremental changes would occur if the subassembly were no longer manufactured. The accountant believes that Yoklic will eliminate $50,000 of fixed overhead if it accepts the proposal. Does this new information change the decision? Show your calculations.
Ignore the information in part (B). Now suppose Yoklic could use the capacity released under the buy alternative to make a different subassembly that it currently purchases from a vendor for $20. The manufacturing engineer believes that the company can use the existing equipment to manufacture the subassembly for $13 each (direct materials, direct labor, and variable overhead). The firm uses about 5,000 of these subassemblies. Create a schedule that shows the difference between the two alternatives.
Special order The Cone Head House sells ice cream cones in a variety of flavors. Data for a recent week appear here:
The Cone Head’s manager received a call from a university student club requesting a bid on 100 cones to be picked up in three days. The cones could be produced in advance by the store attendant during slack periods and then stored in the freezer. Each cone requires a special plastic cover that costs $0.05.
Outsourcing, business risk Saguaro Systems produces and sells stereo systems for MP3 players. The following information has been collected about the costs related to the systems:
The managers are deciding whether to outsource production to a Mexican company that has offered to produce these systems for $48 each. The managers estimate that $260,000 of Saguaro’s fixed costs could be eliminated if they accept the offer. Direct labor employees are guaranteed pay for 40
ACC 543 Week 2 Individual Textbook Exercise Ex 5.17, Case 6.55, Ex 7.21, Ex 825
Job costing, service sector Consider the following budgeted data for a client job of Bob Crachit’s accounting firm. The client wants a fixed price quotation.
Overhead is allocated at the rate of 100% of direct labor cost.
Costs of workplace health and safety Britain’s Health and Safety Executive (HSE) is a national regulatory body overseeing workplace health and safety. In its 2007 performance report, HSE reported the following statistics:
• 241 workers were killed at work.
• 141,350 employees suffered serious injuries at work.
• 2 million people were suffering from an illness they believed was caused or made worse by their current or past work. 646,000 of these were new cases in the last 12 months.
• 36 million days were lost overall (1.5 days per worker), 30 million due to work-related ill health and 6 million due to workplace injury.
• £20 billion (approximately 2% of GDP) is the estimated annual cost to society of work-related accidents and ill health.
Step-down, direct, and reciprocal methods, accuracy of allocation (Appendix 8A) Software Plus Corporation produces flight and driving simulations and games for personal computers. The president has a complaint about the accounting for support department costs. He points to the following table describing the use of various support departments in the company and says, “According to this table, every department receives services from all the support departments. But I understand that only some of the support departments are bearing costs from the other support departments. Why is that?”
ABC, ABM (CMA) Applewood Electronics manufactures two large-screen television models, the Monarch, which has been produced for five years and sells for $900, and the Regal, a new model that sells for $1,140. Applewood’s CEO, Harry Hazelwood, suggested that the company should concentrate its marketing resources on the Regal model and begin to phase out the Monarch model.
Applewood currently uses a traditional costing system. The following cost information has been used as a basis for pricing decisions over the past year.
ACC 543 Week 3 Individual Textbook Exercise
Static and flexible budgets for decision making: Exercise 10.22
Standard costs and variance analysis: Exercise 11.16
Direct Material Variance Exercise 11.18
Agency theory and responsibility accounting: Exercise 15.16
ACC 543 Week 3 Team Assignment Capital Budget Recommendation
Capital Budget Recommendation Guillermo Furniture, a company that manufactures midgrade and high-end sofas, has just hired you as an accountant. The owner, Guillermo Navallez, has assigned you the tasks of determining which decisions provide the greatest returns. Read the Guillermo Furniture Scenario and review the Guillermo Furniture Data Sheets on your student Web site. Enter your name in cell A3 of the Income Information tab in the Guillermo Furniture Data Sheets. Submit the exact name you entered to your instructor. Obtain the number that is shown as a result for total assets on the Assets, Liabilities, and Equity In tab. Submit the number for total assets to your instructor. Differentiate among the various capital budget evaluation techniques. Explain how these different techniques would help you make your recommendation to Guillermo. Recommend a course of action based on a capital budget evaluation technique and include present value calculations as part of your recommendation. Submit your assignment as an attachment of no more than 1,050 words.
ACC 543 Week 4 Individual Textbook Exercise
22.2 Negotiable Instrument
22.5 Order to Pay
25.1 Cashier’s Check
ACC 543 Week 4 Team Assignment
26.1 Mechanic’s Lien Ironwood Exploration, Inc.
26.2 Foreclosure Atlantic Ocean Kampgrounds, Inc.
26.5 Consumer Leasing Joyce
26.7 Fair Debt Collection Stanley
27.1 Financing Statement C&H Trucking, Inc.
27.2 Priority of Security Agreements World Wide Tracers, Inc
27.4 Priority of Security Interests
27.5 Purchase Money Security Interest Prior Brothers, Inc
27.7 Buyer in the Ordinary Course of Business
26.1 Mechanic’s Lien Ironwood Exploration, Inc.
(Ironwood) owned a lease on oil and gas property located in Duchesne County, Utah. Ironwood contracted to have Lantz Drilling and Exploration Company, Inc. (Lantz), drill an oil well on the property. Thereafter, Lantz rented equipment from Graco Fishing and Rental Tools, Inc. (Graco), for use in drilling the well. Graco billed Lantz for these rentals, but Lantz did not pay. Graco filed a notice of a mechanic’s lien on the well in the amount of $19,766. Ironwood, which had paid Lantz, refused to pay Graco. Graco sued to foreclose on its mechanic’s lien. Who wins?
Graco Fishing and Rental Tools, Inc. v. Ironwood Exploration, Inc., 766 P.2d 1074, 98 Utah Adv. Rep. 28, Web 1988 Utah Lexis 125 (Supreme Court of Utah)
26.2 Foreclosure Atlantic Ocean Kampgrounds, Inc. (Atlantic) borrowed $60,000 from Camden National Bank (Camden National) and executed a note and mortgage on property located in Camden, Maine, securing that amount. Maine permits strict foreclosure. Atlantic defaulted on the loan, and Camden commenced strict foreclosure proceedings pursuant to state law. After the one-year period of redemption, Camden National sold the property to a third party in an amount in excess of the mortgage and costs of the foreclosure proceeding. Atlantic sued to recover the surplus from Camden National. Who wins? Atlantic Ocean Kampgrounds, Inc. v. Camden National Bank, 473 A.2d 884, Web 1984 Me. Lexis 666 (Supreme Judicial Court of Maine)
Elmer and Arletta Hans, husband and wife, owned a parcel of real property in Illinois. They borrowed $100,000 from First Illinois National Bank (First Illinois) and executed a note and mortgage to First Illinois, making the real estate security for the loan. The security agreement authorized First Illinois to take possession of the property upon the occurrence of a default and required the Hanses to execute a quitclaim deed in favor of First Illinois. The state of Illinois recognizes the doctrine of redemption. When the Hanses defaulted on the loan, First Illinois filed a lawsuit, seeking an order requiring the Hanses to immediately execute a quitclaim deed to the property. Must the Hanses execute the quitclaim deed before the foreclosure sale? First Illinois National Bank v. Hans, 143 Ill. App.3d 1033, 493 N.E.2d 1171, Web 1986 Ill. App. Lexis 2287 (Appellate Court of Illinois)
26.5 Consumer Leasing Joyce Givens entered into a rental agreement with Rent-A-Center, Inc. (Rent-A-Center), whereby she rented a bar and an entertainment center. The agreement provided that she must pay in advance to keep the furniture for periods of one week or one month. Givens could terminate the agreement at any time by making arrangements for the furniture’s return. Givens made payments for four months. After that, she failed to make any further payments but continued to posses the property. When Rent-A-Center became aware that Givens had moved and taken the furniture with her, in violation of the rental agreement, it filed a criminal complaint against her. Thereafter, Givens agreed to return the furniture, and Rent-A-Center dropped the charges. After Rent-A-Center recovered the furniture, Givens sued the company, claiming that the agreement she had signed violated the Consumer Leasing Act. Who wins? Givens v. Rent-A-Center, Inc., 720 F.Supp. 160, Web 1988 U.S. Dist. Lexis 16039 (United States District Court for the Southern District of Alabama)
26.7 Fair Debt Collection Stanley M. Juras was a student at Montana State University (MSU). During his four years at MSU, Juras took out several student loans from the school under the National Direct Student Loan program. By the time Juras left MSU, he owed the school more than $5,000. Juras defaulted on these loans, and MSU assigned the debt to Aman Collection Services, Inc. (Aman), for purposes of collection. Aman obtained a judgment against Juras in a Montana state court for $5,015 on the debt and $1,920 in interest and attorneys’ fees. Juras, who at the time lived in California, still refused to pay these amounts. Subsequently, a vice president of Aman, Mr. Gloss, telephoned Juras twice in California before 8:00 A.M. Pacific Standard Time. Gloss told Juras that if he did not pay the debt, he would not receive a college transcript. Juras sued Aman, claiming that the telephone calls violated the Fair Debt Collection Practices Act. Gloss testified at trial that he made the calls before 8:00 A.M. because he had forgotten the difference in time zones between California and Aman’s offices in South Dakota. Who wins? Juras v. Aman Collection Services, Inc., 829 F.2d 739, Web 1987 U.S. App. Lexis 12888 (United States Court of Appeals for the Ninth Circuit)
27.1 Financing Statement C&H Trucking, Inc. (C&H), borrowed $19,747.56 from S&D Petroleum Company, Inc. (S&D). S&D hired Clifton M. Tamsett to prepare a security agreement naming C&H as the debtor and giving S&D a security interest in a new Mack truck. The security agreement prepared by Tamsett declared that the collateral also secured:
any other indebtedness or liability of the debtor to the secured party direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, including all future advances or loans which may be made at the option of the secured party.
Tamsett failed to file a financing statement or the executed agreement with the appropriate government office. C&H subsequently paid off the original debt, and S&D continued to extend new credit to C&H. Two years later, when C&H owed S&D more than $17,000, S&D learned that (1) C&H was insolvent, (2) the Mack truck had been sold, and (3) Tamsett had failed to file the security agreement. Does S&D have a security interest in the Mack truck? Is Tamsett liable to S&D? S&D Petroleum Company, Inc. v. Tamsett, 144 A.D.2d 849, 534 N.Y.S.2d 800, Web 1988 N.Y.App. Div. Lexis 11258 (Supreme Court of New York)
27.2 Priority of Security Agreements World Wide Tracers, Inc. (World Wide), sold certain of its assets and properties, including equipment, furniture, uniforms, accounts receivable, and contract rights, to Metropolitan Protection, Inc. (Metropolitan). To secure payment of the purchase price, Metropolitan executed a security agreement and financing statement in favor of World Wide. The agreement, which was filed with the Minnesota secretary of state, stated that “all of the property listed on Exhibit A (equipment, furniture, and fixtures) together with any property of the debtor acquired after” the agreement was executed was collateral.
One and one-half years later, State Bank (Bank) loaned money to Metropolitan, which executed a security agreement and financing statement in favor of Bank. Bank filed the financing statement with the Minnesota secretary of state’s office one month later. The financing statement contained the following language describing the collateral: “All accounts receivable and contract rights owned or hereafter acquired. All equipment now owned and hereafter acquired, including but not limited to, office furniture and uniforms.”
When Metropolitan defaulted on its agreement with World Wide six months later, World Wide brought suit, asserting its alleged security agreement in Metropolitan’s accounts receivable. Bank filed a counterclaim, asserting its perfected security interest in Metropolitan’s accounts receivable. Who wins? World Wide Tracers, Inc. v. Metropolitan
27.4 Priority of Security Interests Paul High purchased various items of personal property and livestock from William and Marilyn McGowen. To secure the purchase price, High granted the Mc-Gowens a security interest in the personal property and livestock. Two and one-half months later, High borrowed $86,695 from Nebraska State Bank (Bank) and signed a promissory note, granting Bank a security interest in all his farm products, including but not limited to all his livestock. Bank immediately perfected its security agreement by filing a financing statement with the county clerk in Dakota County, Nebraska. The McGowens perfected their security interest by filing a financing statement and security agreement with the county clerk three months after the Bank filed its financing statement. Three years later, High defaulted on the obligations owed to the McGowens and Bank. Whose security interest has priority? McGowen v. Nebraska State Bank, 229 Neb. 471, 427 N.W.2d 772, Web 1988 Neb. Lexis 290 (Supreme Court of Nebraska)
27.5 Purchase Money Security Interest Prior Brothers, Inc. (PBI) began financing its farming operations through Bank of California, N.A. (Bank). Bank’s loans were secured by PBI’s equipment and after-acquired property. Bank immediately filed a financing statement, perfecting its security interest. Two years later, PBI contacted the International Harvester dealership in Sunny-side, Washington, about the purchase of a new tractor. A retail installment contract for a model 1066 International Harvester tractor was executed. PBI took delivery of the tractor “on approval,” agreeing that if it decided to purchase the tractor, it would inform the dealership of its intention and would send a $6,000 down payment. The dealership received a $6,000 check. The dealership immediately filed a financing statement concerning the tractor. Subsequently, when PBI went into receivership, the dealership filed a complaint, asking the court to declare that its purchase money security interest in the tractor had priority over Bank’s security interest. Does it? In the Matter of Prior Brothers, Inc., 29 Wn.App. 905, 632 P.2d 522, Web 1981 Wash.App. Lexis 2507 (Court of Appeals of Washington)
27.7 Buyer in the Ordinary Course of Business Heritage Ford Lincoln Mercury, Inc. (Heritage) was in the business of selling new cars. Heritage entered into an agreement with Ford Motor Credit Company (Ford), whereby Ford extended a continuing line of credit to Heritage to purchase vehicles. Heritage granted Ford a purchase money security interest in all motor vehicles it owned and thereafter acquired and in all proceeds from the sale of such motor vehicles. Ford immediately filed its financing statement with the secretary of state. When the dealership experienced financial trouble, two Heritage officers decided to double finance certain new cars by issuing dealer papers to themselves and obtaining financing for two new cars from First National Bank & Trust Company of El Dorado (Bank). The loan proceeds were deposited in the dealership’s account to help with its financial difficulties. The cars were available for sale. When the dealership closed its doors and turned over the car inventory to Ford, Bank alleged that it had priority over Ford because the Heritage officers were buyers in the ordinary course of business. Who wins? First National Bank and Trust Company of El Dorado v. Ford Motor Credit Company, 231 Kan. 431, 646 P.2d 1057, Web 1982 Kan. Lexis 280 (Supreme Court of Kansas)
ACC 543 Week 5 Individual Textbook Exercise
47.6 Abandoned Property
50.1 Exclusion from Insurance
50.6 Malpractice Insurance
50.7 Duty to Defend
45.2 Clean Air Act
45.5 Hazardous Waste
45.6 Nuclear Waste
45.7 Endangered Species
47.2 Mislaid Property Alex Franks was a guest staying at a Comfort Inn in Searcy, Arkansas, while he was working on a highway project. Franks found a bundle of money in plain view in the left part of the left drawer in the dresser in his room. Franks notified the hotel manager, who notified the police. The police took custody of the money and discovered that the carefully wrapped bundle contained $14,200 in cash—46 $100 bills and 480 $20 bills. Franks sued to recover the cash. J.K. Kazi, the owner of the hotel, joined the lawsuit, also claiming the money. Franks argued that the money was lost property and therefore he, as the finder, was entitled to the money. Kazi argued that the money was mislaid property and that he, as the owner of the premises on which the money was found, was entitled to the money. The trial court held that the money had been mis-laid and awarded the money to Kazi, the hotel owner. Franks appealed. Was the money mislaid or lost property? Who receives the property? Franks v. Kazi, 88 Ark.App. 243, 197 S.W.3d 5, Web 2004 Ark. App. Lexis 771 (Court of Appeals of Arkansas)
47.3 Bailment The Sisters of Charity of the Incarnate Word, d.b.a. St. Elizabeth Hospital of Beaumont, operates a health and wellness center. Phil Meaux was a paying member of the health center. The rules of the center, which Meaux had been given, state, “The Health & Wellness Center is not responsible for lost or stolen items.” A sign stating, “We cannot assure the safety of your valuables” was posted at the check-in desk. The wellness center furnished a lock and key to each member but had a master key to open lockers in case a member forgot or lost his or her key.
One day, Meaux went to the wellness center and placed his clothes, an expensive Rolex watch, and a money clip with $400 cash in the locker assigned him. Upon returning from swimming, Meaux discovered that his locker had been pried open, and his watch and money had been stolen by some unknown person. Meaux sued the Sisters of Charity, alleging that a bailment had been created between him and the Sisters and that the Sisters, as bailee, were negligent and therefore liable to him for the value of his stolen property. The trial court held in favor of Meaux and awarded him $19,500 as the value of the stolen property, plus interest and attorneys’ fees. The Sisters of Charity appealed. Was a bailment created between Meaux and the Sisters of Charity? Who wins? Sisters of Charity of the Incarnate Word v. Meaux, 122 S.W.3d 428, Web 2003 Tex. App. Lexis 10189 (Court of Appeals of Texas)
47.6 Abandoned Property Police officers of the city of Miami, Florida, responded to reports of a shooting at the apartment of Carlos Fuentes. Fuentes had been shot in the neck and shoulder, and shortly after the police arrived, he was removed to a hospital. In an ensuing search of the apartment, the police found assorted drug paraphernalia, a gun, and cash in the amount of $58,591. The property was seized, taken to the police station, and placed in custody. About nine days later, the police learned that Fuentes had been discharged from the hospital. All efforts by police to locate Fuentes and his girlfriend, a co-occupant of Fuentes’s apartment, were unsuccessful. Neither Fuentes nor his girlfriend ever came forward to claim any of the items taken by the police from his apartment. About four years later, James W. Green and Walter J. Vogel, the owners of the apartment building in which Fuentes was a tenant, sued the city of Miami to recover the cash found in Fuentes’s apartment. The state of Florida intervened in the case, also claiming an interest in the money. Who wins? State of Florida v. Green, 456 So.2d 1309, Web 1984 Fla.App. Lexis 15340 (Court of Appeal of Florida)
50.1 Exclusion from Insurance Policy Richard Usher’s home was protected by a homeowners’ policy issued by National American Insurance Company of California. The policy included personal liability insurance. A provision in the policy read: “Personal liability and coverage do not apply to bodily injury or property damage arising out of the ownership, maintenance, use, loading, or unloading of a motor vehicle owned or operated by, or rented or loaned to any insured.” Usher parked a Chevrolet van he owned in his driveway. He left the van’s side door open while he loaded the van in preparation for a camping trip. While Usher was inside his house, several children, including 2-year-old Graham Coburn, began playing near the van. One of the children climbed into the driver’s seat and moved the shift lever from park to reverse. The van rolled backward, crushing Coburn and killing him. Coburn’s parents sued Usher for negligence. Is the accident covered by Usher’s homeowners’ policy? National American Insurance Company of California v. Coburn, 209 Cal. App.3d 914, 257 Cal.Rptr. 591, Web 1989 Cal.App. Lexis 356 (Court of Appeal of California)
50.6 Malpractice Insurance Donald Barker, a wealthy Oregon resident, went to the law firm Winokur, Schoenberg, Maier, Hamerman& Knudson to have his estate planned. An attorney at the firm repeatedly told Barker that he could convey half of his $20-million estate to his wife tax free under Oregon’s marital deduction. Barker had his will drawn based on the law firm’s advice. It was not until after Barker died three years later that Barker’s family learned that Oregon does not recognize the marital deduction. As a result, the will’s beneficiaries were subject to significant estate taxes. The beneficiaries sued the law firm for negligence, and the case was settled for $2 million. At the time Barker was being advised by the law firm, it had a professional malpractice insurance policy with the Travelers Insurance Company (Travelers) that covered “all sums which the insured shall become legally obligated to pay as damages because of any act or omission of the insured arising out of the performance of professional services for others in the insured’s capacity as a lawyer.” The policy expired one year prior to Barker’s death. Is Travelers liable for the $2 million settlement? Travelers Insurance Company v. National Union Fire Insurance Company of Pittsburgh, 207 Cal. App.3d 1390, 255 Cal.Rptr. 727, Web 1989 Cal.App. Lexis 130 (Court of Appeal of California)
50.7 Duty to Defend When Michael A. Jaffe, a child psychiatrist practicing in California, was accused of Medi–Cal fraud and theft, he requested that his malpractice insurer, Cranford Insurance Company (Cranford), provide his criminal defense. Cranford refused to defend Jaffe, citing the terms of Jaffe’s malpractice insurance policy. The policy describes the insured risk as “psychiatrist’s professional liability in respect of insured’s practice of psychiatry.” Another clause of the policy states that Cranford “agrees to pay such damages as may be awarded in respect of professional services rendered by Jaffe, or which should have been rendered by him, resulting from any claims or suits based solely upon malpractice, error, or mistake.” After Cranford refused to defend him, Jaffe hired his own criminal defense lawyer. The case went to trial, and Jaffe was found innocent of all charges. After his acquittal, Jaffe demanded that Cranford reimburse him for the expenses incurred during trial. When Cranford refused this request, Jaffe sued. Who wins? Jaffe v. Cranford Insurance Company, 168 Cal.App.3d 930, 214 Cal.Rptr. 567, Web 1985 Cal.App. Lexis 2153 (Court of Appeal of California)
45.2 Clean Air Act Pilot Petroleum Associates, Inc., and various affiliated companies distributed gasoline to retail gasoline stations in the state of New York. Pilot owned some of these stations and leased them to individual operators who were under contract to purchase gasoline from Pilot. The EPA took samples of gasoline from five different service stations to which Pilot had sold unleaded gasoline. These samples showed that Pilot had delivered “unleaded gasoline that contained amounts of lead in excess of that permitted by the Clean Air Act and EPA regulations.” The United States brought criminal charges against Pilot for violating the act and EPA regulations and sought fines from Pilot. Who wins? United States v. Pilot Petroleum Associates, Inc., 712 F.Supp. 1077, Web 1989 U.S. Dist. Lexis 6119 (United States District Court for the Eastern District of New York)
45.5 Hazardous Waste Douglas Hoflin was the director of the Public Works Department for Ocean Shores, Washington. During a period of seven years, the department purchased 3,500 gallons of paint for road maintenance. As painting jobs were finished, the 55-gallon drums that had contained the paint were returned to the department’s yard. Paint contains hazardous substances such as lead. When fourteen of the drums were discovered to still contain unused paint, Hoflin instructed employees to haul the paint drums to the city’s sewage treatment plant and bury them. The employees dug a hole on the grounds of the treatment plant and dumped in the drums. Some of the drums were rusted and leaking. The hole was not deep enough, so the employees crushed the drums with a front-end loader to make them fit. The refuse was then covered with sand. Almost two years later, one of the city’s employees reported the incident to state authorities, who referred the matter to the EPA. Investigation showed that the paint had contaminated the soil. The United States brought criminal charges against Hoflin for aiding and abetting the illegal dumping of hazardous waste. Who wins? United States v. Hoflin, 880 F.2d 1033, Web 1989 U.S. App. Lexis 10169 (United States Court of Appeals for the Ninth Circuit)
45.6 Nuclear Waste Metropolitan Edison Company owned and operated two nuclear-fueled power plants at Three Mile Island near Harrisburg, Pennsylvania. Both power plants were licensed by the NRC after extensive proceedings and investigations, including the preparation of the required environmental impact statements. When one of the power plants was shut down for refueling, the other plant suffered a serious accident that damaged the reactor. The governor of Pennsylvania recommended an evacuation of all pregnant women and small children, and many area residents did leave their homes for several days. As it turned out, no dangerous radiation was released.
People Against Nuclear Energy (PANE), an association of area residents who opposed further operation of the nuclear power plants at Three Mile Island, sued to enjoin the plants from reopening. They argued that the reopening of the plants would cause severe psychological health damage to persons living in the vicinity and serious damage to the stability and cohesiveness of the community. Are these reasons sufficient to prevent the reopening of the nuclear power plants? Metropolitan Edison Company v. People Against Nuclear Energy, 460 U.S. 766, 103 S.Ct. 1556, 75 L.Ed.2d 534, Web 1983 U.S. Lexis 21 (Supreme Court of the United States)
45.7 Endangered Species The red-cockaded woodpecker is a small bird that lives almost exclusively in old pine forests throughout the southern United States. Its survival depends on a very specialized habitat of pine trees that are at least thirty, if not sixty, years old, in which they build nests and forage for insects. The population of this bird decreased substantially as pine forests were destroyed by clear-cutting. The U.S. secretary of the interior has named the red-cockaded woodpecker an endangered species. The U.S. Forest Service manages federal forests and is charged with duties to provide recreation, protect wildlife, and provide timber. To accomplish the charge of providing timber, the Forest Service often leases national forest lands to private companies for lumbering. When the Forest Service proposed to lease several national forests in Texas, where the red-cockaded woodpecker lives, to private companies for lumbering, the Sierra Club, an environmental organization, sued. The Sierra Club sought to enjoin the Forest Service from leasing these national forests for lumbering. Who wins? Sierra Club v. Lyng, Secretary of Agriculture, 694 F.Supp. 1260, Web 1988 U.S. Dist. Lexis 9203 (United States District Court for the Eastern District of Texas)
ACC 543 Week 5 Team Aspects of Employment and Environment Paper and PowerPointRiver Rafting Locations
Aspects of Employment and Environment Paper and PowerPoint You are an accountant at a small accounting firm. One of your clients is looking to open a small river-rafting business. Your client will run the business operations from a mobile home office on a piece of land on the riverbank. Your client must decide the best location to start this business and has asked you to explain the accounting advantages of choosing the best location. Your client is also wondering if the business should build a permanent structure on the land, or use the mobile home they already own. Additionally, your client wants to know the insurance implications of this decision. How would the insurance implications of the location decision change the company’s risks and how might your client use insurance to better manage those risks? As a team, conduct research on three locations and select a location that your client will use to start this business. The locations should be in states where your at least one of your team members lives Address the following for each location, based on research of the three sites located in three states: Evaluate the legal aspects of acquiring, holding, and disposing of real property. Evaluate the legal aspects of acquiring, holding, and disposing of personal property. Analyze the business use of insurance for various risks. Identify environmental issues and regulations related to the site. Discuss which location you will suggest to your client to run the business from, and why this location is advantageous relative to your discussion of real and personal property and the use of insurance. Submit a paper of no more than 1,400 words with your research results and recommendations for the client. Create a 10- to 15-slide Microsoft® PowerPoint® presentation for the client.
ACC 543 Week 6 Individual Textbook Exercise
29.1 Creation of an Agency
29.2 Independent Contractor
29.4 Apparent Agency
30.4 Independent Contractor
31.1 Workers’ Compensation
31.3 Occupational Safety
31.6 Unemployment Benefits
33.3 Sex Discrimination
33.5 National Origin Discrimination
33.6 Religious Discrimination
51.1 Audit Opinion
51.2 Auditor’s Liability to Third Party
51.3 Auditor’s Liability
51.4 Accountant’s Liability to Third Party
51.5 Ultramares Doctrine
51.6 Section 10(b)
ACC 543 Week 6 Team Assignment Flexible Budgets
Flexible Budgets Team Paper Write a paper of no more than 1,050 words in which you discuss flexible budgets. Explain the relationship between fixed and variable costs used in a flexible budget. Discuss the differences between static and flexible budgets and how a flexible budget lends itself to a cost-volume-profit analysis. Format your paper consistent with APA guidelines
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