This Week's DF Covers The Following Modules And Mater 149335

This week's DF covers the following modules and materials. Read/watch them to answer the questions below: · New York Times article (Links to an external site.) : "In order to understand the brutality of American capitalism, you have to start on the plantation" by Matthew Desmond. (This article is also available as a PDF document under Files .) · The Quiltmakers of Gee's Bend (Links to an external site.) documentary · "The Alabama Women Who Made Their Quilts a Part of Modern Art" (Links to an external site.) · Quilts of Gee's Bend Slideshow (Links to an external site.) · Essay 2 IMPORTANT : You must answer ALL questions for credit. 1. From the Quilts of Gee's Bend Slideshow, which are your favorite quilts and why? (Write at least 250 words.) 2.

Do your own research on modern art. What are the hallmarks of modern art? Who are some of its major artists? What works of modern art remind you of the quilts of Gee's Bend? (Write at least 250 words.) 3. Do your own research on modern art.

Post a link to an article that you found informative. · A) What makes this article informative/interesting? · B) How would you cite it? 4. Here's a quote from "The Alabama Women Who Made Their Quilts a Part of Modern Art": "As with some other arts, however, quilt-making has traditionally struggled for recognition as a fine art. Like weaving and embroidery, quilting is often seen as merely a craft, or ' women’s work (Links to an external site.) ,' as opposed to painting and sculpting, which were traditionally considered more manly, high-art forms. In terms of art world acceptance, the women of Gee’s Bend had an added disadvantage: their blackness." Using one or more of the Gee's Bend quilts as an example, make a case for the Gee's Bend quilts to be universally accepted as fine art. (Write at least 250 words.) 5.

In the new era of COVID-19, the concept of sustainability is moving from lip service to necessity. Americans are faced with having to live in a more sustainable fashion, throwing away less and reusing more. Consider the following: · A) How are the quilts of Gee's Bend models of sustainability? · B) Referring back to Desmond's article, in what ways can reusing clothing, sheets, and other fabrics be considered anti-capitalist? · C) Which of the Gee's Bend quilters best displays sustainable habits? How so? (Write at least 250 words total for A, B, and C.) 6. Provide a direct quote from one of the quilters in The Quiltmakers of Gee's Bend documentary.

Explain what this quote means and why it is significant to you. (Write at least 250 words.) Pay attention: Questions 1, 2, 4, 5, and 6 require at least 250 words each. Again, always post word counts for all answers. Remember that peer review is important and counts toward your final grade. BCO114 ACCOUNTING I Task brief & rubrics Task: Final Assignment (40% of the Final grade) You must answer all the questions in the proposed business case. This task assesses the following learning outcomes: • Critically understand the differences between the methods of valuation of the inventory • Knowing how to properly elaborate an income statement and determine the ending inventory balance.

LAUNCH: WEEK 10 / DELIVERY: MAY 10th, 2020, 23:59HRS ON MOODLE Submission file format: Excel document with all the answers, clearly identifying all steps, results, journals and including comments besides each answer. BUSINESS CASE (100 points) Jim has recently opened a dry fruits wholesale company dedicated to the sale of peanuts, almonds and pistachios. During its first month of activity, the company has made the following transactions: February 2: Purchase of Pistachios: 2.500Kg@10$/Kg $ 25.000 Purchase of Almonds: 4.000Kg @ 5$/Kg $ 20.000 Purchas of Peanuts: 6.000Kg @ 3$/ Kg $ 18.000 February 3: Purchase of Pistachios: 1.500Kg@12$/Kg $18.000 Purchase of Almonds: 2.000Kg @ 6$/Kg $ 12.000 Purchas of Peanuts: 2.000Kg @ 4$/ Kg $ 18.000 mailto:2.500Kg@10$/Kg mailto:1.500Kg@12$/Kg February 6: Sold to several clients: Pistachios: 2.000Kg@ 20$/Kg $40.000 Almonds: 2.500Kg @ 11$/Kg $ 27.500 Peanuts: 3.000Kg @ 7$/ Kg $ 21.000 February 6: Sold to Fruits Lovers Inc.: Pistachios: 500Kg @20$/Kg. $ 10.000 Almonds: 1.000Kg @ 11$/Kg $ 11.000 Peanuts: 1.500Kg @ 8$/ Kg $ 12.000 February 12 Purchase of Pistachios: 1.500Kg@14$/Kg $ 21.000 Purchase of almonds: 2.000Kg @ 8$/Kg $ 16.000 February 13: Sale of peanuts to Peanuts Lovers Inc.: 3.500Kg @8$/kg $ 28.000 February 14: Purchase of Peanuts 6.000 Kg @4$/Kg $24.000 February 19: Sold to several clients: Pistachios: 1.00Kg@ 21$/Kg. $ 21.000 Almonds: 1.500Kg @ 13$/Kg $ 19.500 Peanuts: 3.000Kg @ 9$/ Kg $ 27.000 February 25: Purchased from various suppliers: Pistachios: 1.00Kg@13$/Kg. $ 13.000 mailto:1.500Kg@14$/Kg mailto:1.00Kg@13$/Kg Almonds: 1.000Kg @ 9$/Kg $ 9.000 Peanuts: 1.000Kg @ 4$/ Kg $ 4.000 Besides these transactions, the company has had the following expenses: Salaries: $3500 Electricity bill: $300 Renting of equipment: &800 Rent of warehouse and office: $1.500 Miscellaneous: $1.200 Jim’s accountant recommended that he should use the average cost method in order to determine the cost of the inventory sold but he is not sur e about the consequences it nay have on his financial situation Relying on your accounting knowledge, Jim asks you the following questions: 1: Why in your opinion did Jim’s accountant recommend the average cost method and what difference is there whit the three other methods?

Explain the main characteristics of each method of valuation of the inventory and the consequences they may have on the valuation of the inventory and determination of the net income in case of price fluctuation. (20 points) 2: Prepare an Income statement of the company at the end of February using as method of valuation of the inventory the average cost method, FIFO and LIFO for each one of the products sold by Jim, and calculate the balance of the inventory at the end of the month. Explain the calculations. (40 points: 30 points for the calculation and 10 for explanations) 3: In order to compare with the records made by his accountant, Jim asks you to prepare the different journal entries for the purchases and sales mentioned above for each one of the 3 different methods used above. (15 points) 4: Jim’s accountant insisted that he should use a perpetual inventory system instead of a periodic inventory system and the average cost method for valuating the inventory.

Do you agree with this advice (justify your answer)? Would the balance of the inventory at the end of the month be the same? And the net income? (15 points) 5: Jim would like to know a forecast of the number of days to sell the inventory based on the results of the month of February. Explain your calculation and the steps followed. (10 points: 5 for calculation and 5 for explanation) 6. Jim expects that the prices of the merchandises will dramatically decrease in the next future as a result of the Covid 19 crisis.

Which method of valuation of the inventory would you thus recommend to Jim? Explain your answer. (5 points)