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Description

The annotated bibliography and proposal are to be posted in your group collaboration page by the due date for faculty and peer input. In addition to writing a final paper, you will also prepare an oral or poster presentation with zoom video. (This is submitted through its own assignment tab)The learning objectives are to prepare you for professional scientific conferences in academia or professional careers. Oral and Poster presentations are integral to the scientific process of sharing results, marketing new ideas and technologies, and presenting ideas at professional meetings. If your paper topic is lengthy or complex, you may select a sub-component of your paper for the oral/ poster presentation

There are examples of student papers and presentations on Canvas.

Required Structure of Paper

April 19

250-500 word proposal for paper + 10 reference Annotated Bibliography

ENVS 112
Final Paper Instructions
Fall 2020-Flowers
ENVS 112 Major Paper Due
The annotated bibliography and proposal are to be posted in your group collaboration page by
the due date for faculty and peer input. In addition to writing a final paper, you will also prepare
an oral or poster presentation with zoom video. The learning objectives are to prepare you for
professional scientific conferences in academia or professional careers. Oral and Poster
presentations are integral to the scientific process of sharing results, marketing new ideas and
technologies, and presenting ideas at professional meetings. If your paper topic is lengthy or
complex, you may select a sub-component of your paper for the oral/ poster presentation
• There are examples of student papers and presentations on Canvas.
Required Structure of Paper
• 250-500 word proposal for paper + 10 reference Annotated Bibliography
• Draft paper for peer review + Turnitin
• Final Paper Due
• (Poster/PowerPoint/Video Uploaded For Preview-Peer Review) Be prepared for
Discussion at Final Class Meeting-Zoom
You may be interested in pursuing some of the papers posted on Canvas further, such as
international development of renewable energy, water availability, solar ovens, refugees, climate
and REDD for carbon sequestration, etc. It is up to you but run it by the instructor for scale and
scope if you are uncertain. Also, in your proposal make sure you outline the 5 required
components of the paper.
How to choose a topic? A plethora of ideas, not limited to these, just to get you
Started. This is an international environmental class, so the topic must be international in
content. The paper should illustrate an important environmental point like conservation of
biodiversity, adaptation to impacts of an aspect of global warming, renewable energy, climate
change or globalization, sustainable resource management, ecological restoration.
Specific examples are:
• Evaluate conservation efforts with the International Crane foundation
(www.savingcranes.org), World Wildlife Fund, Birdlife International, The Nature
Conservancy. You could evaluate reserves, World Heritage Sites, Ramsar Sites,
Conservation, or restoration areas.
• Watershed analysis, impacts of dams or hydroelectric, desertification of an area through
mining, grazing, agriculture, etc.
• Other topics include deforestation or reforestation, overfishing, sustainable fisheries
management, aquaculture development, illegal trade, poaching, conservation, captive
breeding programs for endangered species.
• A topic that could be developed into such as environmental refugees could include
management of the world’s commons such as global fisheries, international allocation of
water rights and availability of clean potable water, human adaptation to climate change.
• Other options include global impact of renewable energy development or other global
industries such as coffee, cacao, tea, coca, or opium poppies.
1
ENVS 112
Final Paper Instructions
Fall 2020-Flowers
Required Components of Paper
The word requirement for this paper is a minimum of 2,500 words; you must do a word count
under the Review Section in Word and put on the cover page. This is mandatory to pass the
course. FYI this is approximately an 8-page written paper. You must show word count on the
upper right side of your title page
1 You must use at least 10 refereed journal or government documents as source material. It
must be international.
2 Clearly identify your thesis question or problem/ project that the paper will address
3. Choose a specific topic located in one country, geographic area, culture, or conservation
site. Be specific and focused in your topic.
4 Content should include the following, BUT will vary by topic:
a. Careful background and description of all aspects of the project
b. Stressors or disturbances that affect project
c. Stakeholders –social justice, humanitarian, socioeconomic, regional, national, global
d. Environmental characteristics – Biodiversity, ecosystem function and agro-ecology Choose an ecosystem function or species or ecosystem and discuss how to sustain or
restore or conserve the biology of the system.
e. Socio-Economics –discuss the economic factors affecting the project. Consider the
local community, individuals requiring subsistence economies for food and shelter, the
country, global markets, World Trade Organizations, etc. Impacts on women and
communities might be a focus of your paper
f. Solutions/ Recommendations to alleviate the problems – conservation, restoration,
policy, planning, etc.
5. Clearly identify your target audience!
You are writing for an audience that is one of sophisticated, international professionals with
some scientific background. An idea might be a government official, the mangers of a
conservation area or park, someone with an international NGO or Agency such as UNEP,
UNESCO, WWF, International Crane Foundations, etc. You can have fun with this. For
example, you could address the National Science Foundation or a nonprofit as if you are
doing a consultant report for them.
PAPER ORGANIZATION
1. Title Page
This has your name and title of the paper. You can include the abstract but nothing else. The
word count should be in the upper right-hand corner, easy to see, underlined. The word count
does not include References Cited or Figures/ Tables/ Maps or TOC.
2. Title – Single most important phrase of a scientific document. Identifies field of study for
the document and separates the document from other documents in the field.
3. Abstract. 250 – 350 words. Remember this is written last.
4. Table of Contents. Include page numbers for paper contents. Maps, figures, tables and graphs
that are included as part of the paper should be at the end of the document (optional). You may
include Appendixes.
2
ENVS 112
Final Paper Instructions
Fall 2020-Flowers
5. Introduction
The introduction provides the audience answers to the following questions:
A) What exactly is the paper about?
B) Why is the topic important?
C) What is the context of the paper? How does it fit within the context of other work in its field?
What is the background and synthesis of the work? For example, if I wrote a paper on restoration
of understory plants in riparian areas, how is this different from other papers? Why is it
important? What is needed to understand the work?
D) How will the work be presented? In other words, what is the
context of the paper? An advisory paper for a country government? NGO? International
organization like UNEP? Park or conservation area?
6. Discussion
Some organization strategies used in papers:
• Chronology or Temporal Strategy – historic events, such as history of politics with
Mesopotamian Marshes. Or time-line process or cyclic process. Other examples?
• Spatial strategy – follow physical shape of a form of an object; curvature of a
fossil, dispersion of volcano’s ash plume, shape of a comet. For instance, you might
divide a comet into its head, coma, and tail. Other examples?
• Flow of some variable –Odom’s energy flow in ecosystem, so for example look
at Nitrogen cycle, or climate change and carbon cycles
• Meta–analysis – synthesizing multiple studies on single subject. Example: IPPC
report on climate change.
7. Conclusion – The ending of a scientific document provides closure. The ending contains
the conclusion sections (of the main text) as well as the back matter. The Introduction
sets the stage and readers expectations for the conclusion sections. First, in the conclusion
sections, readers expect an analysis of the most important results from the documents
discussion. Second, reader’s expectations for future perspectives on the work. Also, part of the
conclusion or post conclusion required for your paper, you will provide your own
recommendations in your own words. This is all your own ideas, thoughts, feelings, and is
written in the first person. This section doesn’t have to be referenced. This is what you got out of
the paper in a few key points important to you.
8. References Cited – APA FORMAT
9. Tables, Figures, Appendixes
3
Name ________________________________ Peer Reviewer Name______________________________
Class Writing Assignment
Rubric for Assessing Capstone Project Paper (based on 200 points)
Criteria
Introduction:
25%
50 points
Discussion:
25%
50 points
Exemplary (43-50)
Accomplished (36-43) Emerging (32-36)
Background is highly
Background is largely
developed, welldeveloped, focused,
focused and answers
and generally answers
the following
the following
questions:
questions:
A) What exactly is the
A) What exactly is the
paper about?
paper about?
B) Why is the topic
B) Why is the topic
important?
important?
C) What is the context
C) What is the context
of the paper? How
of the paper?
does it fit within the
synthesis of the work?
context of other work
D) How will the work
in its field? What is the
be presented?
background and
synthesis of the work?
D) How will the work
be presented? In other
words, what is the
context of the paper?
Discussion includes
Discussion includes
evidence and insights as some insights; enough
well as a clearly defined relevant evidence to
organizational strategy support assertions and
for example:
includes a developed
organizational strategy:
• Chronology or
Temporal Strategy – • Chronology or
Temporal Strategy
historic events, timeline process or cyclic • Spatial strategy
process.
• Flow of some variable
• Spatial strategy –
• Meta–analysis
follow physical shape
of a form of an object
• Flow of some variable
–Odom’s energy flow
in ecosystem,
Nitrogen cycle, or
climate change and
carbon cycles
• Meta–analysis –
synthesizing multiple
studies on single
subject.
Nascent (0-32)
Background is
moderately
developed; weak
contextual
development, focus is
inconsistent and does
not answer all the
following questions:
A) What exactly is the
paper about?
B) Why is the topic
important?
C) What is the
context of the paper?
D) How will the work
be presented?
Background is not
well-developed;
context is unclear,
lacks focus on
describing the
answers to the
following questions:
A) What exactly is the
paper about?
B) Why is the topic
important?
C) What is the
context of the paper?
background and
synthesis of the
work?
D) How will the work
be presented?
Discussion lacking
insights and has
insufficient/offers
minimal evidence to
support assertions,
use of relevant
evidence to support
assertions
is marginal.
Underdeveloped
organizational strategy.
Discussion missing
two or more
components, lacks
analysis and few
insights; evidence to
support assertions
often not explored or
irrelevant.
Underdeveloped or
nonexistent
organizational strategy.
Conclusion:
25%
50 points
Abstract,
Organization
Formatting,
Grammar,
Spelling and
References
Cited: 25%
50 points
The ending provides
The ending provides
The ending provides
The ending provides
closure. The conclusion closure and contains
incomplete closure. The marginal/no synthesis
contains sections (of the sections (of the main text) conclusion contains
for closure. There is
main text) as well as the as well as the back
sections (of the main
minimal or no analysis
back matter. There is
matter. There is sufficient text) as well as the back of the most important
excellent analysis of the analysis of the most
matter. There is
results from the
most important results important results from
moderate analysis of the documents discussion.
from the documents
the document discussion. most important results It does not address
discussion. It also includes It mentions expectations from the documents
expectations for future
expectations for future for future perspectives on discussion. It also
perspectives on the
perspectives on the work. the work. Also, it provides includes minimal
work or the author’s
Also, it provides the
some of the author’s own expectations for future own recommendations
author’s own
recommendations
perspectives on the
recommendations.
work. Limited
recommendations from
the author.
Abstract: 250-500
words; clearly
articulates main point
of the paper.
Consistently strong
topic sentences,
exemplary application
of formatting
requirements. (Nine
requirements outlined
in assignment*)
Exemplary; masterful
use of grammar; void of
spelling errors.
Abundant and correct
use of in text citations
properly cited and
matching with proper
APA citation format with
at least 10 peer
reviewed journal or
government document
cited.
Abstract:
approximately 250-500
words; approximates
key points of paper.
Generally strong topic
sentences, application
of formatting with
some minor errors in
required formatting.
* Generally good;
some minor errors in
grammar and/or
spelling. Abundant use
of in text citations,
minimal errors to
properly cite and match
with proper APA citation
format. Referenced may
be cited incompletely
but there are at least 10
peer reviewed journal or
government document
cited.
*Nine Items: 1) Title
Page, 2) Title, 3)
Abstract, 4) Table of
Contents, 5)
Introduction, 6)
Discussion, 7)
Conclusion, 8)
References, and 9)
Tables, Figures,
Appendices.
*Nine Items
Abstract: Either
too short of too
long; main points
of paper are not
clear. Sufficient
topic sentences,
several minor
errors in
formatting
requirements. *
Emerging; several
minor and major
grammatical and
spelling errors.
Insufficient use of in
text citations, several
citation errors or nonmatching with proper
APA citation format.
Referenced may be
cited incompletely.
Less than 10 peer
reviewed journal or
government
document cited.
*Nine Items
Abstract: Either
too short of too
long or missing;
main points of
paper are not
are confused or
absent.
Inconsistent or
weak topic
sentences;
several major
errors in
required
formatting. *
Beginning; many
major and minor
grammatical and
spelling errors.
Minimal/no use of in
text citations, many
citation errors or
non-matching with
proper APA citation
format. Referenced
may be cited
incompletely. Less
than 10 peer
reviewed journal or
government
document cited.
*Nine Items
Proposal
This paper is to raise awareness about air quality standards in China, how effective
they are, what steps they can take to be more effective, and what other countries
can learn from their efforts. The targeted audience for this paper will be the general
populace to increase general knowledge and understanding related to air quality
and the difficulties associated with controlling air quality. Data will be presented
from several scholarly journals and articles from the California Air Resources
Board (CARB). Topics covered will include general knowledge about pollutants,
stressors to the project, how the air quality crisis in China is being handled, what
policies are in place to reduce air pollution, and possible solutions to excessive air
pollutants.
References
California Air Resources Board. (n.d.-a). Inhalable Particulate Matter and Health
(PM2.5 and PM10). https://ww2.arb.ca.gov/resources/inhalable-particulate-matterand-health
Description of PM 10 and PM 2.5 and effects on human health and the
environment. California Air Resources Board. (n.d.-b). Ozone & Health.
https://ww2.arb.ca.gov/resources/ozone-and-health
Description of Ozone and effects on human health and the environment.
California Air Resources Board. (n.d.-c). California Ambient Air Quality
Standards (CAAQS). https://ww2.arb.ca.gov/resources/california-ambient-airquality-standards
What are California ambient air quality standards and what are pollutants listed
under this provision.
Kunlun, W., Hongchun, Y., Yiwen, C. (2019, April 1). The effect of environmental
regulation on air quality: A study of new ambient air quality standards in China.
Journal of Cleaner Production, 215, 268-279. https://www-sciencedirectcom.proxy.lib.csus.edu/science/article/pii/S0959652619300721
Effect of Chinese environmental policy on controlling PM 2.5.
Rongshan, W., Xiamong, S., Yingchen, B., Jie, C., Qian, Z., Shuo, L., Hongbing,
X., Tong, W., Baihuna, F., Yi, Z., Liuju, Z., Xuemei, W., Fengchang, W., Wei, H.
(2018, Feb 11). Are current Chinese national ambient air quality standards on 24hour averages for particulate matter sufficient to protect public health? Journal of
Environmental Sciences, 71, 67-75. https://www-sciencedirectcom.proxy.lib.csus.edu/science/article/pii/S1001074217321691
Assessing the effectiveness of Chinese national ambient air quality standards for
particulate matter adopted in 2012. Determines they are sufficient for short term
effect.
Wei, G., Lijuan, C., Youqing, F., Miaomiao, L., Fei, J. (2021, Feb 25)). Effect of
ambient air quality on subjective well-being among Chinese working adults.
Journal of Cleaner Production, 296.
https://www.sciencedirect.com/science/article/abs/pii/S0959652621007290
Study of the effect of air quality on Chinese working adult’s health and happiness.
Xiaoju, L., Siti, H., Shafreeza, S., Mohamad S. (2021, Jan 7). Overviewing the air
quality models on air pollution in Sichuan Basin, China. Chemosphere, 271.
https://www.sciencedirect.com/science/article/pii/S0045653520337000
Analysis and commentary on air quality in Sichuan Basin, China and how to
combat air pollution in foggy conditions.
Yan, S. Zhenran, L., Jun, L., Tingting, Y., Ming, Z., Jingru, P. (2021, April). The
effect of environmental regulation on air quality in China: A natural experiment
during the COVID-19 pandemic. Atmospheric Pollution Research, 12(4), pp 2130. https://www-sciencedirectcom.proxy.lib.csus.edu/science/article/pii/S1309104221000544
Study of short-term effects of policy on air quality and showed relation between
higher rates of confirmed cases of COVID-19 and improved air quality.
Yangyang, Z., Xuejun, L.,Lin, Z., Aohan, T., Keith, G., Jeffrey, L., Collett Jr.
(2021, March 30). Evolution of secondary inorganic aerosols amidst improving
PM2.5 air quality in the North
China plain. Environmental Pollution, 281.
https://www.sciencedirect.com/science/article/abs/pii/S0269749121006096#aeparticle-footnote-id7
Effectiveness of the Clean Air Action implemented in 2013 in the Northern China
Plain.
Zhixiang, Z., Ya, C., Pingfan, S.,Tao D. (2020, July 20). China’s urban air quality
evaluation with streaming data: A DEA window analysis. Science of The Total
Environment, 727.
https://www.sciencedirect.com/science/article/abs/pii/S0048969720317265
Study of the distribution of air pollution in China and the severity of pollution
Take Home Exam for Final Assignment 2020-2021/Spring (V1)
B326: Advanced Financial Accounting
Cut-Off Date : 27 April 2021
Cut off Time : 9:05 PM
Total Marks : 100
Duration
: 24 Hours
Contents:
Warnings and Declaration ……………………………………………………………………………………………………….. 1
Question1 ……………………….……………………………………………………………………….………………….……….….. 2
Question 2 ……………………… ……………………………… …………………………………………….………………..…..…. 3
Question 3 ………….……………………………………………………………………………………………………………………. 5
Plagiarism Warning:
As per AOU rules and regulations, all students are required to submit their own THE-Final work and
avoid plagiarism. The AOU has implemented sophisticated techniques for plagiarism detection. You
will be penalized for any act of plagiarism as per the AOU’s rules and regulations.
Declaration of No Plagiarism by Student (to be signed and submitted by student with
THE-Final work):
I hereby declare that this submitted THE-Final work is a result of my own efforts and I have
not plagiarized any other person’s work.
Name of Student:
Signature:
Date:
B326 FTHE V. I
Page 1 of 5
Spring 2020-2021
Question 1 (34 marks)
A- Assume that a French corporation exports electronic equipment to USA in a transaction
denominated in dollar. Is this transaction a foreign currency transaction? Is it a foreign
transaction? Explain the difference between these two concepts and their application here.
(5 marks)
B- The unrealized gains and losses from intercompany transactions involving plant assets
might be eventually realized. Does it make any difference if these assets are depreciable or
non-depreciable? Explain.
(5 marks)
C- On January 1, 2019 Porto Corporation paid $81,000 for a 90% interest in Sardinia
Corporation. On that date Sardinia capital stock was $50,000 and its Retained Earnings
was $15,000. Any excess will be assigned to goodwill.
Further information:
1. During 2019, Porto’s sales to Sardinia were $24,000, Sardinia managed to sell 50% of
this merchandise. (The other half was sold in 2020.)
2. During 2020, Porto’s sales to Sardinia were $30,000 of which Sardinia managed to sell
40% of this merchandise. At year-end 2020, Sardinia owed Porto $7,500 for the inventory
purchased during 2020. Porto sells merchandise to Sardinia at 120% of Porto’s cost.
3. On January 1, 2020, Porto sold equipment with a book value of $10,000 and a
remaining useful life of four years and no salvage value to Sardinia for $14,000. Straightline depreciation is used.
4. Sardinia’s income for 2019 was $20,000 and Sardinia’s dividends received by Porto
was $9,000
5. Separate company financial statements for Porto Corporation and Subsidiary at
December 31, 2020 are summarized in the first two columns of the consolidation working
papers.
Required:
1) Prepare all elimination entries in 2020 (Including the entries not affecting the
consolidated Income statement). Show all your calculations.
2) Complete the working papers to consolidate the financial statements of Porto
Corporation and subsidiary for the year ended December 31, 2020:
B326 FTHE V. I
Page 2 of 5
Spring 2020-2021
Porto
INCOME STATEMENT
Sales
Income from Sardinia
Gain on equipment sale
Cost of Sales
Other Expenses
Noncontrolling interest share
Net income
Retained Earnings 1/1
Add: Net income
Dividends
Retained Earnings 12/31
BALANCE SHEET
Cash
Receivables
Inventories
Equipment-net
Land
Investment in Sardinia
Goodwill
TOTAL ASSETS
LIAB. & EQUITY
Accounts payable
Capital Stock
Retained Earnings
1/1 Noncntrl. Interest
12/31 Noncntrl. Interest
TOTAL LIAB.& EQUITIES
Sardinia
Eliminations
Debit
Credit
Consolidated
$ 300,000 $70,000
23,000
4,000
( 130,000)
( 140,000)
(22,000)
(18,000)
$ 57,000
$ 47,500
57,000
( 35,000)
$ 69,500
$ 30,000
$ 25,000
30,000
( 10,000)
$ 45,000
$ 27,500
35,000
50,000
120,000
20,000
102,000
$ 15,000
20,000
22,500
45,000
17,500
$ 354,500 $120,000
$ 35,000 $ 25,000
250,000
69,500
50,000
45,000
$ 354,500 $120,000
(24 Marks)
Question 2 (34.5 marks)
A- The income statement of Panama Corporation showed a net income of $3,500,000 for
the year ended December 31, 2020, before recording any income from its 85% owned
subsidiary; Salgado. The income statement of Salgado for 2020 showed a net income of
$700,000. During 2020, an intercompany sale of a truck resulted in a gain of $35,000, and
the truck was assumed to have a four-year remaining useful life with no residual value. The
truck is depreciated on a Straight-line basis.
Required:
1. Calculate Panama’s consolidated net income for 2020, and controlling share of
consolidated net income for 2020, assuming it was a downstream sale,
2. Calculate Panama’s consolidated net income for 2020, and controlling share of
consolidated net income for 2020, assuming it was an upstream sale
3. Comment on the results, to indicate the difference between downstream sale and
upstream sale.
(12 Marks)
B326 FTHE V. I
Page 3 of 5
Spring 2020-2021
B- Penguin Enterprises owns 75% of the outstanding voting stock of Seagull, which was
purchased in 2001 at a cost equal to 75% of the book value of Seagull ‘s net assets (At that
date, the fair value and book value of Seagull ‘s net assets were equal.) Separate company
income statements accounts for Penguin and Seagull for the year ended December 31, 2020
are summarized as follows:
Penguin
Seagull
Sales Revenue
$6,000,000
$2,000,000
Cost of Goods Sold
(4,000,000) (1,000,000)
Expenses
(1,125,000)
(500,000)
During 2020, the companies agreed to sell inventory to each other as needed at a markup
of 10% of cost. Penguin sold merchandise that cost $250,000 to Seagull for $275,000, and
Seagull sold inventory that cost $200,000 to Penguin for $220,000. Half of this
merchandise remained in each company’s inventory at December 31, 2020.
Required:
1) Determine Penguin ‘s income from Seagull for 2020.
2) Prepare a consolidated income statement for Penguin Corporation and Subsidiary
for 2020.
(9 Marks)
C- The following import and export transactions relate to Nour Corporation (a U.S.
company) and its unaffiliated Mexican companies:
November 11, 2019 Purchased inventory for 150,000 pesos on account. Invoice
denominated in pesos.
November 30, 2019 Sold 60% of inventory acquired on 11/11/19 for 120,000 pesos on
account. Invoice denominated in pesos.
January 5, 2020
Acquired and paid the 150,000 pesos owed to the Mexican supplier.
January 15, 2020
Collected the 120,000 pesos from the Mexican customer and
immediately converted them into U.S. dollars.
The following exchange rates apply:
Date
Rate
November 11
$.11 = 1 peso
November 30
$.12 = 1 peso
December 31
$.13 = 1 peso
January 5
$.14 = 1 peso
January 15
$.15 = 1 peso
Required:
1) Prepare the required journal entries at Nour Corporation to record the previous
transactions.
2) Determine the amount of Accounts Payable that will be included on the December
31, 2019 balance sheet of Nour Company.
3) Did the U.S. dollar strengthen or weaken from November to January and what are
the implications for Nour business? Prove your answer.
(13.5 Marks)
B326 FTHE V. I
Page 4 of 5
Spring 2020-2021
Question 3 (31.5 marks)
A- On December 31, 2019, the unadjusted credit balance of the Allowance for
Overvaluation of Inventories: Hope Branch ledger account in the accounting records of the
home office of Farah Company was $60,000. The home office of Farah ships merchandise
to the branch at a markup of 20% on billed price. For the fiscal year ended December 31,
2019, the branch had reported a net loss (based on billed prices of merchandise shipped
from home office) of $18,400 and ending inventories (all received from home office) of
$132,000 at billed prices.
Required:
Prepare journal entries for the home office of Farah Company on December 31, 2019,
to record the foregoing information.
(9 marks)
B- The following ledger account was in the accounting records of the Habiba Branch of
ABC Company on December 31, 2019:
Home Office
Date
Explanation
Debit
Credit
Balance
2019
Jan.
1 Balance
40,000 cr
Mar. 10 Cash remitted to home office
10,000
30,000 cr
31 Merchandise returned to home office
2,650
27,350 cr
June 6 Merchandise received from home office
14,400
41,750 cr
Oct. 10 Cash received from home office
2,600
44,350 cr
Dec. 20 Acquisition of fixtures
9,250
35,100 cr
31 Net income
7,770
42,870 cr
The home office of ABC Company used the perpetual inventory system, and billed the
branch for merchandise shipments at 20% above home office cost.
Required:
Prepare journal entries to record the above indicated transactions and events in the
accounting records of the home office of ABC Company.
(14 Marks)
C- A review of Sara Company, a U.S. corporation, shows the following balances in
accounts receivable detail at December 31, 2019, their fiscal year end.
Receivables denominated in U.S. dollar $852,000. Receivable denominated in 80,000
Australian dollar $86,000, and Receivable denominated in 140,000 Canadian dollar $143,500
As Sara prepared to close their books, they noted that the December 31 exchange rates for the
Australian dollar, Canadian dollar and Hong Kong dollar were $1.0366, $1.0391 and $0.1284,
respectively.
Required:
1- Determine the exchange gain or loss to be included in the 2019 financial statements
2- Determine the amount of Accounts Receivable that will be included on the December
31, 2019 balance sheet.
(4 Marks)
D- The reciprocal ledger account balances of Youssef Company’s branch and home office
are not in agreement at year-end. What factors might have caused this? Give examples.
(4.5 Marks)
[END OF QUESTIONS]
GOOD LUCK
B326 FTHE V. I
Page 5 of 5
Spring 2020-2021

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