Select two of the scenarios in the Applications list 12.2 (a.-ff.)

Assignment:

Select two of the scenarios in the Applications list 12.2 (a.-ff.) at the end of Ch. 12 in The Art of Thinking.

Apply the following in a paper of 600 to 800 words for each scenario:

· Evaluate each argument, using the four-step process described on pp. 197-198, regarding soundness of reasoning (truth and validity).

·  Explain your assessment, and add alternative argumentation where necessary.

Format your assignment according to appropriate course level APA guidelines.

Tools – 12.2 list

12.2. Check each of the following arguments to be sure that it contains no hidden premises and, if it is a complex argument, that all parts are expressed. Revise each, as necessary, to make the expression complete. Then evaluate the argument and decide whether it is sound. Explain your judgment.

a. Having great wealth is a worthy goal because it is difficult to attain and many famous people have pursued it.

b. Low grades on a college transcript are a handicap in the job market, so teachers who grade harshly are doing students a disservice.

c. The Bible can’t be relevant to today’s problems; it was written many centuries ago and is filled with archaic phrasing.

d. It is dishonest to pretend to have knowledge one does not have, so plagiarism is more virtue than vice.

e. The credit card habit promotes careless spending, particularly among young people. Therefore, credit card companies should not be permitted to issue credit cards to anyone under age 21.

f. No one who ever attended this college achieved distinction after graduation. Marvin attends this college. Therefore, Marvin will not achieve distinction after graduation.

g. Drug dealing should not be a crime because it does not directly harm others or force them to harm themselves.

h. A mature person is self-directing, so parents who make all their children’s decisions for them are doing their offspring a disservice.

STEPS IN EVALUATING AN ARGUMENT The following four steps are an efficient way to apply what you learned in this chapter—in other words, to evaluate your argument and overcome any errors in validity or truth that it may contain:

1. State your argument fully, as clearly as you can. Be sure to identify any hidden premises and, if the argument is complex, to express all parts of it.

2. Examine each part of your argument for errors affecting truth. (To be sure your examination is not perfunctory, play devil’s advocate and challenge the argument, asking pointed questions about it, taking nothing for granted.) Note any instances of either/or thinking, avoiding the issue, overgeneralizing, oversimplifying, double standard, shifting the burden of proof, or irrational appeal. In addition, check to be sure that the argument reflects the evidence found in your investigation (see Chapter 8) and is relevant to the pro and con arguments and scenarios you produced earlier (see Chapter 9).

3. Examine your argument for validity errors; that is, consider the reasoning that links conclusions to premises. Determine whether your conclusion is legitimate or illegitimate.

4. If you find one or more errors, revise your argument to eliminate them. The changes you will have to make in your argument will depend on the kinds of errors you find. Sometimes, only minor revision is called for—the adding of a simple qualification, for example, or the substitution of a rational appeal for an irrational one. Occasionally, however, the change required is more dramatic. You may, for example, find your argument so flawed that the only appropriate action is to abandon it altogether and embrace a different argument. On those occasions, you may be tempted to pretend your argument is sound and hope no one will notice the errors. Resist that hope. It is foolish as well as dishonest to invest time in refining a view that you know is unsound.

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The Conch Republic Electronics, Part 1 MINI-CASE

The Conch Republic Electronics, Part 1, assignment

Use the questions at the end of the case for guidance, but remember you may add to your explanations. One thing that student’s tend to do with a case is bring in more information than what is needed – stick to the facts as presented in the case and the chapter readings.

Please prepare and submit a 1-3 page response including synthesis of chapter readings and applications to corporate organizational structure.

The Conch Republic Electronics mini-case will allow you to apply the cash flow models for evaluating capital decisions. You are in the role of a recent MBA graduate and have the ability to apply what you learn this week to a “real life” simulation.

Upon Completion of this mini-case, you will demonstrate your ability to:

Apply the calculations for payback analysis of a capital project.
Apply the calculations for profitability analysis of a capital project.
Apply the calculations for a NPV analysis of a capital project.
Apply the calculations for a IRR analysis of a capital project.
Make an appropriate recommendation based on the facts presented.

To receive full credit, for Mini-cases:

You are to answer the questions that are found at the end of each case in your textbook as clearly and succinctly as possible. You will be graded on the accuracy of your answers and the application of the proper support from text/class material. Please show any and all computations required since partial credit will be given for your work (when work is shown).

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You are evaluating two different milling machines to replace your current

You are evaluating two different milling machines to replace your current aging machine. Machine A costs $266735, has a three-year life, and has pretax operating costs of $64279 per year. Machine B costs $395418, has a five-year life, and has pretax operating costs of $32757 per year. For both milling machines, use straight-line depreciation to zero over the project’s life and assume a salvage value of $40798. Your tax rate is 34 % and your discount rate is 10 %.

What is the EAC for Machine A? (Round answer to 2 decimal places. Do not round intermediate calculations)

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The Product Life Cycle (PLC) is a vital component of the marketing plan

Purpose of Assignment

The Product Life Cycle (PLC) is a vital component of the marketing plan. Monitoring products and services as they flow through this process helps marketing managers adjust their marketing strategies to keep products and services thriving for as long as possible. Monitoring this cycle helps companies and organizations continue to maximize the value of their products and services with their target over time. The purpose of this assignment is to give students the opportunity to understand how each stage in the PLC creates a need for adjustment to marketing strategies and allows students to assess what action(s) need to be taken.

Assignment Steps

Resources: Marketing: Ch. 1: pg. 4-10; Ch. 2: pg.40-46, 54-69; Ch. 11: pg. 292-309

Scenario: You currently work as the marketing manager of your favorite company/organization and manage the success of one of its products or services. Your responsibility is to monitor the stages of the Product Life Cycle (PLC) and adjust the marketing strategies as needed for your product to thrive for as long as possible. At each stage, you assess changes you need to make to the product, price strategy, as well as competition and profit.

Create a 10- to 20-slide (not counting cover slide or reference slide) Microsoft® PowerPoint®presentation with speaker’s notes covering the following criteria:

Develop a slide setting the theme and goals of the presentation.
Define and discuss the PLC concept and its importance to marketing managers.
Define and discuss what role pricing strategy has in marketing and how marketing mangers decide what strategy to use.
Describewhat company/organization and product/service you are using.
Create one slide for each of the four stages of the PLC describing the stage and analyzes the implications each stage may have on price strategy, product, competition, and profit for your selected product/service. Use the product/service you selected to illustrate each stage as it is discussed with original examples.
Discuss the reasoning behind why the PLC is important to marketing managers and share examples of possible implications if it is not monitored.

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Sabby Industries has three activity cost pools and two products

Sabby Industries has three activity cost pools and two products. It expects to produce 2,700 units of Product SZ09 and 1,500 of Product NZ16. Having identified its activity cost pools and the cost drivers for each pool, Sabby accumulated the following data relative to those activity cost pools and cost drivers.

Activity Cost Pool Cost Driver Estimated Overhead Expected use of cost driver SZ09 NZ16

Machine setup Setups $78,500 170 130 40

Assembling Machine hours $331,000 17,300 10,400 6,900

Inspection Inspections $7,700 120 50 70

Calculate the overhead rates. (Round answers to 2 decimal places, e.g. 15.25.)

Machine set up $________ per set up

Assembling$___________ per machine hour

Inspection $____________ per inspection

Assign the overhead cost to the two products. (Round answers to 2 decimal places, e.g. 15.25.)

SZ09 $_____

NZ16 $_____

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Accounting Project 1 SeaSide Marina

Accounting Project 1 SeaSide Marina

This project requires you to tie all parts of the accounting process together in a relatively simple manner. It is intended to enhance your understanding of fundamental accounting concepts and illustrate how all parts of an accounting system join together. You are required to complete a set of typical transactions, post the transactions to the General and Subsidiary Ledgers, complete a trial balance, month end adjustments, and an adjusted trial balance. Some students have found it helpful to complete the transactions in the workbook first.

Transactions for SeaSide

1. Discovered error made by Jack Hobie. One¬third ($270.00) of the supplies purchased from BeachOffice Supply on June 2 were actually store supplies rather than office supplies.

2. Sold merchandise over the counter to Bill Hankins for $115 cash.

3. Sold $2,000 of merchandise to Sail Board City on account? terms 3/10, n/30? invoice #17.

4. Received a check from Bill Hankins in the amount of $230 to be applied to invoice #8.

5. Received a check from Laker Marine Supply in full payment of the balance of their account. You must determine if a discount was taken, and if so, how much it was. Seaside Marina only grants discounts on the basis of full payment of an invoice within the discount period.

6. Paid Avis Boat Builders the balance due on Seaside’s June 3 merchandise purchase.

7. Sent a check to Catamaran Corp. in full payment of Seaside’s June 19 merchandise purchase.

8. Purchased $1150 of merchandise for resale from Tackle Box Supply on account? terms 2/10, n/30.

9. Purchased $1,400 of merchandise for resale from Nautical Industries on account? terms 2/10, n/30.

10. Seaside needed additional space and purchased a warehouse to remodel and the land around it. Priorto arranging permanent financing, Seaside signed a short term construction note payable. The terms of the note are $50,000, 90 days at 16%. The building value was determined to be $40,000.

11. Seaside’s ad agency offered Mr. Hobie a special deal. If he purchased an additional $150 of advertising to be used in August, Seaside would receive free layout services. Mr. Hobie paid the agency$150 to be recorded as advertising expense.

June 29 (Tuesday)
1. Sold $400 of merchandise to Bass¬A¬Rama Rentals and $114 of merchandise to Carl Jenkins. Both customers paid cash.

2. Sold $2000 of merchandise to Waterfront Marina on account? terms 3/10, n/30? invoice #18.

3. Received a check from Bass¬A¬Rama Rentals in full payment of invoice #16.

4. Received a check from Waterfront Marina in full payment of invoices #14 and #15. You must determine the amount of discount allowed, if any.

5. Certain unusable store equipment costing $1,030 was returned by Mr. Hobie and a credit was received from Office Equipment Company. The remaining balance due on the store equipment was paid in full.

6. Purchased $280 of merchandise for resale from Catamaran Corp. on account? terms n/30.

7. Purchased $365 of merchandise for resale from Danforth Tool on account? terms 2/10,n/30.

8. Purchased $1200 of merchandise for resale from Tackle Box Supply on account? terms 2/10, n/30.

9. Sail Board City returned $840 of merchandise purchased on June 17 and requested that their account be credited.

10. Requested & Returned $205 of merchandise purchased from Nautical Industries and was given a credit on the account.

11. Marlinspike Marine signed a 12%, 60¬ day note dated June 20 to pay the balance of its account. The note has not been recorded yet. Sale date was June 19.

12. Mr. Hobie leased some extra space in the new warehouse to Wayward Fishers. Seaside collected $500 for July and August rent. Use the Rent Revenue account.

June 30 (Wednesday)

1. Purchased store supplies costing $810 from Local Supply. Paid cash.

2. Paid Beach Office Supply the balance due on Seaside’s account.

3. Sent a check for $430 to Local Supply to be applied to Seaside’s June 2 purchase.

4. Paid Nautical Industries the balance due on Seaside’s June 28 purchase. You must determine the discount to be taken, if any. Seaside’s creditors only grant discounts on the basis of full payment of a purchase within the discount period.

5. Sent a check for $1195 to Tackle Box Supply to be applied to Seaside’s account.

6. Seaside Marina was informed that the store equipment returned to Office Equipment Company had actually cost Seaside Marina $930 rather than $1,030. Office Equipment Company requested that Mr. Hobie remit a check for $100. Mr. Hobie sent the check.

7. Sold $200 of merchandise to Carl Jenkins on account? terms n/30? invoice #19.

8. Sold $2230 of merchandise to Pope’s Charters on account? terms 2/10, n/30? invoice #20.

9. Sold merchandise to Sail Board City for $890 cash.

10. Paid freight of $215 on incoming purchases. These purchases were all FOB shipping point.

11. Paid $360 for June utilities.

12. Received payment for the balance due from Sail Board City, less discount.

13. The board of directors declared a $1100 dividend to be paid on July 2.

Adjustment Information: 

Summarize and post the appropriate columns of the special journals and prepare the trial balance section of the worksheet to prove that the general ledger is in balance. Next, prepare the subsidiary ledger schedules to verify that the subsidiary ledgers balance with their control accounts. Then, journalize and post the adjusting entries using the following information and the journals and ledgers.

Assume 360 days for any interest calculations and follow the traditional rules for rounding. For example,$5.415 rounds to $5.42 and $5.414 rounds to $5.41.

1.    Physical inventories as of June 30, 20XX are as follows:
Office Supplies $150
Store Supplies $560

2.    Depreciation is based on the end ¬of ¬month balance in the asset account, regardless of the date purchased. Seaside elects to use the straight-¬line method for calculating depreciation. Based on the balances in the following depreciable asset accounts, using the salvage value and useful life given, calculate the depreciation for each asset for the month of June.

Depreciable Asset          Salvage Value        Useful Life
Office Equipment                $288                96 months
Store Equipment                 $260              120 months
Warehouse                         $5200             240 months

3.    Seaside must accrue salaries of $240 for the last three days of June. Employee income taxes are withheld at a rate of 15% and FICA taxes are withheld at a rate of 10%. The policy regarding the employer’s matching 10% FICA liability is to accrue the amount for the full month’s payroll at the end of the month.

4. Unused advertising amounts to $350.

Closing Information:

Prepare the adjusted trial balance section of the worksheet to verify that the general ledger is still in balance. Then, journalize and post the closing entries using the following information, the worksheet and the general ledger.

1.    The ending merchandise inventory as of June 30, 20XX is $4,994. Seaside uses a periodic inventory system and uses the closing entry format for handling cost of goods sold? therefore, it does not have a Cost of Goods Sold account.
Prepare a post¬ closing trial balance to prove that the general ledger is still in balance and prepare the financial statements.

June 28 (Monday)

2.    Sold $2,000 of merchandise to Sail Board City on account? terms 3/10, n/30? invoice #17. Sail Board City’s address is:

116 Nautical Road
Travis Wharf, VA 23421
ATTN: Archie Bradford

Purchase order number is 0061, dated June 26 and signed by L. Sanford. Shipment date is June 28, shipped by Yellow Freight Bill of Lading No. 007. The product ordered was 200 units of item 7960 oarlocks at $10 each for a price of $2,000. Customer account number is 006.

Assume the role of Jack Hobie. Go to Figure 1.2¬ Seaside Marina Boat Equipment Sales flow chart. Complete the Sales Invoice (Figure 2.1) and print. Also, if you have not already done this, enter the transaction in the Sales Journal and Accounts Receivable subsidiary ledger.

June 28 (Monday)

9. Purchased $1,400 of merchandise for resale from Nautical Industries on account? terms 2/10, n/30. The purchase order number is 0106, the purchase order date is June 28, 20XX. Nautical Industries address is:

206 Water Street
West Point, VA 23106

The phone # is 804¬769¬7111, fax is 804¬769¬7119, contact name is Brad Smith. The part # is 176437,the item is personal floatation device (PFD). The quantity is 280 and the unit price is $5. Ignore taxes for purposes of this exercise and assume shipping is free for orders above $1000.

Assume the role of Jess Nathan. Go to figure 1.6¬ Seaside Marina Purchase Orders flow chart. Completethe Purchase Order (Figure 2.2) and print. Also, if you have not already done this enter the transaction inthe Purchases Journal and Accounts Payable Subsidiary Ledger.

10. The Baytown Bank loaned the money to Seaside Marina. The note shown is a generic note and isFigure 2.7¬ Promissory Note. You do not have to do anything other than observe the format of the noteand make the appropriate entry if you have not done so already.

June 29 (Tuesday)

10. Sail Board City returned $840 of merchandise purchased on June 17 and requested that their account be credited. The invoice date is June 17, the invoice number is 10, the return number is 43, and the credit number is 006. The product is 10 gallons of metallic paint at $84/gallon.

Assume the role of Jess Nathan. Go to figure 1.4, Seaside Marina Sales Returns flow chart. Complete the Credit Memo (Figure 2.3) and print. Also, if you have not already done this, enter the transaction in the General Journal and Accounts Receivable Subsidiary Ledger.

11. Requested and returned $205 of merchandise purchased from Nautical Industries and was given a credit on the account.

The return request number is 003, the date of the request is June 29, 20XX. The reason is damaged goods. Seaside requested and received a credit on their account, account number 1611. Seaside’s phone number is 1¬800¬342¬6000. The dept. is 11. The invoice number is 7436. There were 41 units returned from an original order of 280 units. The product number is 176437¬ the list price is $10. It was authorized by Ely Jones of Nautical Industries on the date it was received (June 29).

Assume the role of Anne Bolin. Go to Figure 1.7 Seaside Marina Purchase Returns. Complete the Request to Return (Figure 2.6) and print. Also, if you have not already done so, enter the transaction in the General Journal and Accounts Payable Subsidiary Ledger.

June 30 (Wednesday)

7. Sold $200 of merchandise to Carl Jenkins on account? terms n/30? invoice #19 Carl Jenkins address is:

619 Bay Street
Oshkosh, WI 54901

The shipment is by Yellow Freight. The document number is 0179, the shipper number is 116 and the carrier number is 1016. The merchandise is 10 paddles at $20 each. The weight is 20lbs and the rate is$1.00/lb. The freight charges are billed to shipper. Eliot Wire represented Yellow Freight.

Assume the role of Jess Nathan. Go to Figure 1.8¬ Seaside Marina’s shipping to customers. Complete the Uniform Bill of Lading¬ Domestic (Figure 2.4) and print. Also, if you have not already done so, enter the transaction in the sales journal and Accounts Receivable Subsidiary Ledger.

Additional information needed by those students that wish to pursue bank reconciliation and payroll.

Transaction Set 0
Payroll Information

June 25¬ Paid employees

Jess Nathan worked 44.59 hours¬ DD voucher #5004
Ron Holt worked 31.01 hours¬ DD voucher #5005
Anne Bolin worked 37.04 hours¬ DD voucher #5006

1. Complete the employee record for each employee and print.
2. Complete the payroll register and print.
3. Complete the Direct Deposit voucher for each employee and print.

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The following information is available for Blue Disk Company regarding

The following information is available for Blue Disk Company regarding its June 30, 2010, bank account:

· Balance per bank statement is $10,300.34.

· Balance per books is $9,652.78.

· Check #506 for $1,948.52 and check #510 for $1,600.25 was not returned with the June 30th bank statement.

· The bank had not received a deposit in transit of $4,562.21 when the bank statement was generated.

· A bank debit memo indicated an NSF check written by Bruce Garrett to Blue Disk Company on June 13th for $279.

· A bank credit memo indicated a bank collection of $1,900 and interest revenue of $75 on June 30th (total collection was $1,975).

· The bank statement indicated service charges of $35.

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Lakeside Manufacturing, Inc., reported the following at December​ 31, 2014

Lakeside Manufacturing, Inc., reported the following at December​ 31, 2014 and December​ 31, 2015​:

Lakeside Manufacturing has paid all preferred dividends through 2011

Stockholders’ Equity

Preferred stock, cumulative, $7.00 par, 5%, 45,000 shares issued $315,000

Common stock, $0.35 par, 9,230,000 shares issued

Requirement

1. Compute the total amounts of dividends to both preferred and common stockholders for 2014 and 2015 if total dividends are $100,000 in 2014 and $250,000 in 2015.

Begin with 2014. Compute the total amounts of dividends to both preferred and common stockholders for 2014 if total dividends are $100,000.

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Wendy White (I.D. No. 526-30-9001), age 29, is single

Wendy White (I.D. No. 526-30-9001), age 29, is single. She lives at 1402 Pacific Beach Ave., San Diego, CA 92230. Wendy is employed by KXXR television station as the evening news anchor. An examination of her records for 2015 revealed the following information.

a. Wendy earned $150,000 in salary. Her employer withheld $40,000 in Federal income taxes and   the proper amount of FICA taxes.

b. Wendy also received $10,000 in self-employment income from personal appearances during the year. Her unreimbursed expenses related to this income were: transportation and lodging, $523; meals, $120; and office supplies, $58.

c. Wendy reports the following additional deductions: home mortgage interest, $6,250; charitable contributions, $1,300; state and local income taxes, $3,100; and employment-related expenses, $920.

Determine Wendy’s taxable income.  You do not need to determine her income tax or her self-employment tax. You are not required to complete the income tax forms.

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Vernon Inc. manufactures and sells one product

Vernon Inc. manufactures and sells one product. Sales and production information is contained below.

• Selling price per unit $50

• Variable manufacturing costs per unit produced (DM, DL, and variable MOH) $24

• Variable operating expenses per unit sold $5

• Fixed manufacturing overhead (MOH) in total for the year $135,000

• Fixed operating expenses in total for the year $55,000

• Units produced during the year 15,000

• Units sold during the year 13,000

(a) Prepare the income statement using variable costing.

(b) Prepare the income statement using absorption costing.

(c) Please explain the difference in operating income between the two methods

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