What is a POS System? A system has 5 main components, what are Who are the primary stakeholders in the project? What steps would you take to evaluate this as a system change requests? How would you undertake a preliminary investigation for this project?
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- What is a POS System? A system has 5 main components, what are
- Who are the primary stakeholders in the project?
- What steps would you take to evaluate this as a system change requests?
- How would you undertake a preliminary investigation for this project?
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- i-Case One Running and Growing a Business Sherri has always loved to fix healthy snacks for family and friends and about a year ago she started to sell boxes of them at the local farmer’s market. Last week she heard from a local grocery chain that also wants to stock them. When Sherri was treating her snacks as a hobby, she never paid attention to the costs. Now, she needs to get a better understanding of the costs and cost behavior patterns. At this point she plans to rent a small space for the snack operation and to store inventory. She also has arranged for some part time help to support the snack making operation. These part-time workers will be paid a flat amount per box of snacks and will only be called into work if the volume of business makes it necessary. She also plans to hire someone to help stimulate additional sales. This salesperson’s compensation will include a small salary and a commission of a $1.00 for each box of snacks sold. For question 1-3 determine the most…Part I One of Natalie’s friends, Curtis Lesperance, runs a coffee shop where he sells specialty coffees and prepares and sells muffins and cookies. He is eager to buy one of Natalie’s fine European mixers, which would enable him to make larger batches of muffins and cookies. However, Curtis cannot afford to pay for the mixer for at least 30 days. He asks Natalie if she would be willing to sell him the mixer on credit. Natalie comes to you for advice. She asks you to address the questions below. The following transactions occurred from June through August 2020. June 1: After much thought, Natalie sells a mixer to Curtis on credit, terms n/30, for $1,150 (cost of mixer $620). June 30: Curtis calls Natalie. He is unable to pay the amount outstanding for another month, so he signs a 1-month, 8.35% note receivable. July 31: Curtis calls Natalie. He indicates that he is unable to pay today but hopes to have a check for her at the end of the week. Natalie prepares the journal entry to…Own answer please read story before answering thank you Mr. Juan is a retired government employee who is good at baking. One day he decides to put up a bakery shop in your barangay. He renovates a portion of his house to serve as the area for the production of bread. He purchases baking equipment and raw materials to produce five different types of bread. Mr. Juan also hires Jose to help him with the baking and, at the same time, to be in-charge of sales. Mr. Juan pays Jose on a weekly basis. Every day, Mr. Juan’s wife deposits the daily cash sales in their bank account at XY Savings Bank. With the help of accounting, what possible decisions or questions of Mr. Juan can accounting provide an answer to? • Is my business earning? (profitability) Business • How much daily or monthly sales do I need in order to recover my fixed cost? (break-even) • Do I need to hire additional workers to help me with my production? • Can I afford to set up a new store in another place? Where do…
- Case StudyMeet John. John has an idea for a new business, delicious ice cream that'shealthy enough to eat anytime of the day. He saved his money in the bank,earned interest, and used that to start his business which goes by the name JohnIce Cream Ltd. John tests the market, and BOOM, his product is a hit. In fact,there is so much demand he can't fill ice cream cones fast enough; the business isgrowing. John needs to hire people to help him produce, sell, and deliver his icecream. He needs more ingredients from his suppliers, like the fruit sellers and thecone bakers. John doesn't have the money to pay for all of this right now, butaccording to his business plan and test market results, he’s going to make millionsin the first year. After 5 years the company has a surplus of $4.5bn and wishesto take advantage of short term investment instruments. After trading on thestock exchange for 5 years, an institutional investor purchased 10 million shares inthe company at the market price of $55…Question 5Study the scenario and complete the question that follows:Chopper LtdChopper Ltd manufactures confectionery food in the North West province and it has been supplying thewhole province for the past ten years. They manufacture a popular sweet for kids called ‘Dama’, whichrequires three ingredients: Hola, Suca, and Sira. Since the appointment of Ms Stellah as the productionmanager three years ago, after she completed her Master’s degree in Management and CostingAccounting from Pearson Institute of Higher Education, she had adopted the use of standard costingsystem to monitor its costs. The standard materials usage and cost for one unit of ‘Dama’ is as follows:Hola: 25 grams at 3 cents per gramSuca: 20 grams at 4 cents per gramSira: 15 grams at 3½ cents per gramAt the end of 31 August 2020, Chopper Ltd produced 120 000 units of ‘Dama’ using 4 000 kilograms ofHola, 1 680 kilograms of Suca, and 2 000 kilograms of Sira.Required:Calculate the material variances (usage, mix, and yield…Greg has operated his shop for 2 years. He buys coffee from a local supplier and bakes the cinnamon rolls in-house. Your business consists of catering events and selling fine mixers. The plan is for you to use the premises Greg currently rents to give you an opportunity to display your cakes and demonstrate the mixers that you sell. You will also hire, train, and supervise staff to bake cookies and muffins sold in the shop. By offering a greater variety of baked goods, both of you would benefit. Another advantage is that the coffee shop will have one central location for selling the mixers. However, you want to have a better understanding of his growth, so you ask to see is balance sheets for the past two years. His comparative balance sheets are as follows: Greg's Cinnamon Rolls Condensed Balance Sheet 31-Oct 2021 2020 Assets Current Assets $10,360 $8,602 Property, plant, and equipment (net) 2,500 2,256…
- Goodwill Bobby’s Donuts Donuts & Coffee opened its doors in 2018 on the corner of Geary and Masonic St. in San Francisco, CA. Originally, the owners Lindsey Kline and Carly Repko had planned on catering to the small businesses in the neighborhood and keeping the business a fun side business to their main day jobs. However, soon they found themselves competing with the major local players including the downtown Donuts Shop and other local bakeries in the area. As part of their success, on December 31, 2018 they decided to purchase an existing local donut shop “Bobby’s Donuts” to further positon themselves in the local market. After the acquisition, Bobby’s Donuts continued to operate as a separate company and met the conditions of being a separate reporting unit. The consideration paid on December 31, 2018 directly to the shareholders of Bobby’s Donuts in exchange for all shares was $50,000. The following accounting facts existed at the time of acquisition: Bobby's Donuts -…Goodwill Bobby’s Donuts Donuts & Coffee opened its doors in 2018 on the corner of Geary and Masonic St. in San Francisco, CA. Originally, the owners Lindsey Kline and Carly Repko had planned on catering to the small businesses in the neighborhood and keeping the business a fun side business to their main day jobs. However, soon they found themselves competing with the major local players including the downtown Donuts Shop and other local bakeries in the area. As part of their success, on December 31, 2018 they decided to purchase an existing local donut shop “Bobby’s Donuts” to further positon themselves in the local market. After the acquisition, Bobby’s Donuts continued to operate as a separate company and met the conditions of being a separate reporting unit. The consideration paid on December 31, 2018 directly to the shareholders of Bobby’s Donuts in exchange for all shares was $50,000. The following accounting facts existed at the time of acquisition: Bobby's Donuts -…Goodwill Bobby’s Donuts Donuts & Coffee opened its doors in 2018 on the corner of Geary and Masonic St. in San Francisco, CA. Originally, the owners Lindsey Kline and Carly Repko had planned on catering to the small businesses in the neighborhood and keeping the business a fun side business to their main day jobs. However, soon they found themselves competing with the major local players including the downtown Donuts Shop and other local bakeries in the area. As part of their success, on December 31, 2018 they decided to purchase an existing local donut shop “Bobby’s Donuts” to further positon themselves in the local market. After the acquisition, Bobby’s Donuts continued to operate as a separate company and met the conditions of being a separate reporting unit. The consideration paid on December 31, 2018 directly to the shareholders of Bobby’s Donuts in exchange for all shares was $50,000. The following accounting facts existed at the time of acquisition: Bobby's Donuts -…
- Goodwill Bobby’s Donuts Donuts & Coffee opened its doors in 2018 on the corner of Geary and Masonic St. in San Francisco, CA. Originally, the owners Lindsey Kline and Carly Repko had planned on catering to the small businesses in the neighborhood and keeping the business a fun side business to their main day jobs. However, soon they found themselves competing with the major local players including the downtown Donuts Shop and other local bakeries in the area. As part of their success, on December 31, 2018 they decided to purchase an existing local donut shop “Bobby’s Donuts” to further positon themselves in the local market. After the acquisition, Bobby’s Donuts continued to operate as a separate company and met the conditions of being a separate reporting unit. The consideration paid on December 31, 2018 directly to the shareholders of Bobby’s Donuts in exchange for all shares was $50,000. The following accounting facts existed at the time of acquisition: Bobby's Donuts -…Goodwill Bobby’s Donuts Donuts & Coffee opened its doors in 2018 on the corner of Geary and Masonic St. in San Francisco, CA. Originally, the owners Lindsey Kline and Carly Repko had planned on catering to the small businesses in the neighborhood and keeping the business a fun side business to their main day jobs. However, soon they found themselves competing with the major local players including the downtown Donuts Shop and other local bakeries in the area. As part of their success, on December 31, 2018 they decided to purchase an existing local donut shop “Bobby’s Donuts” to further positon themselves in the local market. After the acquisition, Bobby’s Donuts continued to operate as a separate company and met the conditions of being a separate reporting unit. The consideration paid on December 31, 2018 directly to the shareholders of Bobby’s Donuts in exchange for all shares was $50,000. The following accounting facts existed at the time of acquisition: During 2019, a…LO.8 Since his college days, Charles has developed an entrepreneurial streak. After working in his familys grocery business, he starts several ventures on his own. Even though Charles is independently wealthy, he is looking forward to working in each of the ventures. He plans to drop in on the businesses from time to time between personal trips to Europe and the Caribbean. As of the end of the year, he has established computer software stores in Dayton (Ohio), Austin, and Seattle; bagel bakeries in Albany, Athens (Georgia), and Tallahassee; and mountain bike and ski rental shops in small towns in Vermont, West Virginia, Colorado, and California. Identify the tax issues facing Charles.