Category: Writing

Pete’s Pets is an independent pet store located in Hoboken, New Jersey. Pete collects and reports operating data by “product line,” with all revenues and costs being placed into one of three summary categories: (1) dogs, (2) cats, (3) birds & fish. For the most recent year of operations, Pete reported the following results: While pleased with his overall profit and the profit on dogs and cats, Pete is concerned about the loss on birds and fish. He is thinking about discontinuing the birds and fish product line, and using the space to expand his offering of dogs and cats and their related supplies. Pete believes this option would increase both dog and cat revenue by 12%; however, it would also increase dog-related traceable fixed costs by $12,500 and cat-related traceable fixed costs by $8,000. Required: a. Using the gross approach, evaluate whether Pete should discontinue the birds and fish product line. b. For decision-making purposes, do you believe Pete needs more detailed information than is currently provided in his financial statements?Why?

Pete’s Petroleum, Inc., an SEC registrant with a calendar year-end, is in the business of constructing and operating offshore oil platforms. Pete’s Petroleum is required legally to dismantle and remove the platforms at the end of their useful lives, which is estimated to be 10 years. On January 1, 2016, Pete constructed and began operating an offshore oil platform off the coast of Brazil. The total capitalized cost to construct the platform was $ 3,700,000. In addition, while the future cost of dismantling the oil platform is difficult to estimate, Pete believes there is a 40% chance that the future cost will be $ 1,425,000, a 40% chance it will be $ 1,650,000, and a 20% chance that it will cost $ 2,125,000. The appropriate discount rate is 12%, and Pete uses the straight- line method of depreciation. Required: 1. Prepare the journal entries that Pete should record in 2016 related to the oil platform. 2. Prepare an amortization schedule for the asset retirement obligation. 3. Next Level Prepare a table showing the effect of accounting for the asset retirement obligation on assets, liabilities, shareholders’ equity, and net income relative to accounting for the associated costs at the end of the asset’s service life when the expenditure is made.

Visit the Web site of the Qualitative Research Consultants Association (www.qrca.org). Write a report about the current state of the art in qualitative research.

“One need not be concerned with reliability and validity in applied marketing research.” Discuss this statement as a small group.

Using these sources, and your own knowledge, consider the extent to which global economic governance is effective. Source A The remarkable growth in the extent of international economic integration in recent decades has far outpaced the existing capacity for global economic governance. The intensification of globalization has increased the inadequacy of the institutions of global economic governance and their policies. This became especially apparent during the Global Financial Crisis, also known as the Great Recession, which began in 2008 and the destructive effects of which still continue. The crisis showed that contemporary national and international economic institutions could not achieve stability let alone other goals. In fact, some of the policies multilateral economic institutions have been commending during the last thirty years contributed to the contagion which spread globally from the US where the crisis began. Source B Key objections have been raised in national parliaments to the fiscal disciplines that the new, and spectacularly mis-named, “stability union” imposes on members of the eurozone, while the beefed-up financial backstop to halt further market contagion already looks pretty much dead in the water. Nor is it just within the narrow confines of the eurozone that the financial crisis is testing multilateral solutions close to destruction. Who could in any case regard the vicious program of austerity measures prescribed by multilateral arrangem