Week 2 EOC, Chapter 2 Question 4

a. Lauras cash accounting showed less of a loss a (7,850) as to Lisa who showed a loss of (10,750). Essentially showing that lis has a higher "net profit"

b. Laura's cash accounting method seems to show more accurate with money on hand. "system is a method that records revenue as being earned when it is actually received. Likewise, expenditures are recorded when they are actually paid, regardless of when they were incurred

c. Lisa's Accrual method shoes the most accurate for revenues generated regardless of when they were recieved. "revenue is recorded when it is earned, regardless of when it is collected, and expenses are recorded when they are incurred, regardless of when they are paid."

d. Lauras cash accounting methond is the most accurate to show expenses incurred regardless of when they were paid.

e. Lisa's Accrual accounting method is most accurately shows actual cash inflows and outflows. "In general, the sources and uses of funds you need for cash flow from investing activities will come from your long-term assets (investments, property and equipment, and other assets). The exception to this is marketable securities, which is a current asset that belongs in investing activities.

f. Lisa's Accrual accounting method shows the most accurate relection of true profitability

Week 1 Q3 quiz

Laurie Tenk is a purchasing agent for a restaurant chain.  One of her suppliers has been late on deliveries the past two weeks.  She has discussed this with the salesperson, and he assures her that the problem will be solved.  In an effort to "make things right" the salesperson delivers two cases of hot dogs to her office for "sampling".  She plans to have a back yard barbecue this weekend for her neighbors.  The free hot dogs would lower her cost of this event considerably

From an ethical point of view, how should she handle this situation?

Explain your decision making process and defend your answer.  Use the five Ethical Guidelines in this chapter as a basis for your answer to explain what should be done with the hot dogs.

Answers:

a. Is it legal?

no it is not legal, "discounts, rebates and free products are property of the business, not the manager"

b. Does it hurt anyone?

no, the sales person delivered the two cases for sampling

c. Am I being honest?

she isnt being honest, for the fact that its going to be used in a personal use

d. Would I care if it happened to me?

no , i would not care if it happened to me

e. Would I publicize my action?

yes i would

f. What should be done with the two cases of hot dogs?

consume and continue with BBQ

Week 1 EOC; My Voice

Food is a human necessity. You need food in order to survive. I would like to believe that great food can bring two people from opposites ends and have them meet in the middle. There is something magical about a good meal, just watching the expressions on persons face when they have just finished an amazing meal, is always the same; with a smile and a sigh of satisfaction.  My name is Jerry Manley and I want to bring delicious foods to as many people as I can.  From your Top dog CEO that wants to experience 3-star meal all the way down to the person in the soup kitchen everyday trying to eat just to survive.  Every day I am learning new ways to prepare and execute techniques in the culinary industry. I try to bring a passion into my cooking that you can taste.  Eating food is an experience that everyone loves to do.  It’s not something people always get to do in an enjoyable sense.  Cooking great food is something I want to make enjoyable for as many people that taste me food. Eating food is something we all must people able to do and enjoy and I want to bring that with the food I make for you.  Food is life, food is love, and food is everyone