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Bonadio Ekectrical Supplies distributes electrical components to the construction idustry. The company began as a local suookier 15 yrs ago and has rwon rapidly to become a major competitor in the north central US. As the business grew and the variety of components to be stocked expanded, Bonadio aquired a compauter and implemetned an inventory control system. Other applications such as accounts receivable, accounts payable and payroll and sales analysis were gradually computerized as each function expanded. Because if its operational importance, the inventory system has been upgraded to an online syste, while all other applications are operating in bach mode. Over the years, the company has developed or acquired more than 100 applications porgrams and maintains hundreds of files. Bonadio faces stiff competitiors from local suppliers throughout its marketing area. At a managment meeting the sales manager complained about the difficulty in obtaining immediate currnet information to respond to customer inquiries. Other maangers stated that they also had difficulty obtaining timely data from teh system. As a result the controller engaged a consulting firm to explore the situation. The consultant recommended installing a database mangerment system and the company complied empliying Jack Gibbons as the database adminstrator. At a recent mangement meeting Gibbons presented an overview of the BBMS. Gibbons explained that the database approch asssumes an orgranziational data oriented viewpoint assigned to applications, information is more appropariately used and managed for the entire organization. The operating system physically moves data to and from disk storage, while the DBM is the software prgram that controls the data definition library that programs and query software and teh taks of the application programmers and user are simplied. Under dtabase approach the data avalabke to all users within security guidelines
a. Explain the basic difference between a file oriented system and a database system.
b. Descrobe at least 3 advantages and at least 3 disadvantages of the database system.
c. Describe the duties and responsibilties of Jack Gibbons the database administrator.
Calculate the combined total net income if the company accepts the offer to sell additional units at the reduced price of $13 per unit (Normal value? Additional value? Combined value?)
Wiley Company had total revenues of $300,000 for a recent month. During the month the company incurred operating expenses of $205,000 and purchased land for $45,000. Compute the amount of Wiley's net income for the month.
Journal entries and trial balance On October 1, 2012, Faith Schultz established Heavenly Realty, which completed the following transactions during the month
Write the appropriate audit report, assuming you believe the departure from GAAP is material but not enough to cause you to give an adverse opinion.
Ingram Co. manufactures office furniture. During the most productive month of the year, 3,500 desks were manufactured at a total cost of $84,400. In its slowest month, the company made 1,100 desks at a cost of $46,000.
Caravan Corporation has always been an S corporation. Caravan Corporation is 100% owned by Alan Merten. On January 1, Alan has an adjusted basis of $50,000 in his Caravan stock.
On August 1, 2007, a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest, payable each February 1 and August 1.
What makes a contribution income statement unique? Using the company (National Linen) discuss how a contribution income statement could be used to improve planning in that particular company.
Judy's Cars, Inc. sells collectible automobiles to consumers. Judy employs the specific identification inventory valuation method.
Brian purchased 500 shares of the substantially identical stock for $3,000. What is the tax effect fir Brian as well as what will be the basis of each of four batches of new stock?
Calculate the after-tax cost of each payment assuming she has a 25 percent marginal tax rate. $800 to reimburse the cost of meals incurred by employees while travelling for the business $1,200 for football tickets to entertain out-of-town clients ..
Orange has a $20,000 charitable contribution carryover to 2010 from a prior year. Identify the tax issues the board should consider regarding the proposed contribution.
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