Financial accounting exercises for intangibles.A ltd acquired all the assets and liabilities of B ltd on 1 July 2014. At the date of acquisition, the carrying amount of B ltd identifiable net assets and their fair values are listed below. Carrying amount Fair valuesCash 20,000 20,000Account receivable 800,000 780,000Provision for doubtful debts -10,000 -5,000Inventory 1,600,000 1,480,000Property,plant and equipment 2,100,000 1,800,000Accumulated depreciation PP&E -700,000Account payable -900,000Provision for long service leave -140,000 -190,000In addition, due diligence identified patents that were valued by an expert at $350,000, a customer list at $150,000 and contingent liabilities were reliably measured at $200,000. The price paid was $4,000,000 and did not include the legal costs of the business combination which were $80,000.RequiredPrepare the general journal entries to record the purchase by A Ltd under AASB 3 Business Combinations and the payment to B Ltd. Narrations are not required.

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Assume that you are the corporate communications manager for Irvins tasked to handle the communications for this corporate crisis as a result of the food contamination issue. As such, you will need to develop an appropriate corporate crisis strategy to manage the situation and to protect your company’s reputation. a) Identify and discuss the concerns of the key stakeholders affected by this food contamination issue, and analyse which channels of communication would be most reliable to reach out to each affected stakeholder groups. (20 marks) b) As the situation is now well-known because of the negative publicity on social and traditional media platforms, propose the appropriate communication steps needed to be taken to manage this crisis for Irvins; and differentiate the communications to different stakeholders to protect the company’s reputation from any further damage. (40 marks) c) Write a follow-up news release to implement an effective crisis communications response by outlining Irvin’s philosophy of providing a good snack, and what measures it will be taking to improve quality control. You may refer to the company’s website to get the relevant information. Students may also make up plausible information for quality control steps that Irvin’s can take to prevent a repeat of this situation.

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Given the following financial data, compute: a. Return on equity. b. Quick ratio. c. Long-term debt to equity. d. Fixed-charge coverage. Assets: Cash $ 2,500 Accounts receivable 3,000 Inventory 6,500 Fixed assets 8,000 Total assets $20,000 Liabilities and stockholders’ equity: Short-term debt $ 3,000 Long-term debt 2,000 Stockholders’ equity 15,000 Total liabilities and stockholders’ equity $20,000 Income before fixed charges and taxes $ 4,400 Interest payments 800 Lease payment 400 Taxes (35 percent tax rate) 1,120 Net income (after-taxes) $ 2,080 View Solution:
Given the following financial data compute a Return on equity b Quick

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Tanya, a manager in an advertising agency, called a meeting fro three members of the staff–Jill, Chin, and Delores. Tanya explained that she had just received an exciting offer to submit a proposal for a new account. Tanya told them the project will require an intensive period of work. The proposal must be submitted within two weeks.

The project is complex. Tanya believes, though, that the three of them can do the job. They will be given some help from the department secretary. They must research the types of advertising campaigns used in the industry. They must also gain information about what the client’s goals are and its present image in the marketplace. After they have gathered this information, they must develop what they believe are promising campaigns. Tanya told them that they can decide among themselves how to divide the work.

Jill, Chin, and Delores met immediately after leaving the supervisor’s desk. Jill said, “Look I feel rather tired and I just don’t want to start work on this right away. Could I just beg off the research? Then I’ll be happy to help you develop some plans for a campaign. I think I’m better in the creative part of such a project. I know that there will have to be many overtime hours during this first week of work. I just do not want to change my plans.”

Your task. Assume the role of Chin (you are Jill’s coworker, not her supervisor), how would you address Jill’s statement? Keep your communication professional and non-confrontational.

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