Accounting and Management Help

1-2 pages

Students will provide the journal entry to record the monthly property tax accrual, to record the payment of the taxes, and to record the monthly adjusting entry at the end of the month.

Sammy Company is located in a county that assesses property for tax purposes on July 1 for the period July 1–June 30. The tax rate is not determined until October 15, and the tax bills are mailed October 22 with payment due by December 31. For the prior fiscal year, the Sammy Company paid $22,500. The tax bill for the current fiscal year (July 1, 2014–June 30, 2015) is received on October 28, and property taxes have increased to$ 22,838. The company pays this amount on October 31.

Complete the following:

· Record the monthly property tax accrual that is recorded in July 2014.

· Record the payment of the taxes on October 31.

· Record the monthly adjusting entry on October 31.

· According to generally accepted accounting principles (GAAP), discuss how current liabilities should be classified.

· Provide an example of each, and discuss how current liabilities are valued at the balance sheet.

FINA 412

3-4 pages (body of paper) not including charts/table

HowRu, a private card business and its subsidiary, have a 14% share of the greeting card market. The card business is subject to seasonal cycles, with sales being highest during the holiday season. For this assignment, please complete the following:

•What steps can this company take to diversify its portfolio?

•Define diversification and its necessity in risk management.

•Discuss at least 5 steps to diversify the card business.

•Please give at least 6 suggestions of how and where funds can be allocated for new investments.

Instructor's Comments:

· You want to first clearly describe the business situation with HowRu, the risks it is exposed to because of its big market share, the concentration of its business and the seasonality

· Make sure you clearly specify the 5 steps and 6 areas.

· The 5 steps should be very general, about establishing a risk management framework, to help HowRu to diversify its business, from understanding the risk to measuring and managing risk.

· The 6 areas should be about how to allocating funds to better managing its risk and diversify its business

· Please make sure you do not only focus on financial investment