BSBTWK503 Manage meetings 2
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PROJECT
PORTFOLIO
Task-2
STUDENT VERSION
MANAGE MEETINGS
BSBTWK503
RTO Works
www.rtoworks.com.au
hello@rtoworks.com.au
0452 157 557
© 2021 RTO Works This resource is copyright. Apart from any fair dealing for the purposes of private study, research, criticism or review as permitted under the Copyright Act 1968, no part may be reproduced by any process without written permission as expressed in the RTO Works License Agreement.
The information contained in this resource is, to the best of the project team’s and publisher’s knowledge true and correct. Every effort has been made to ensure its accuracy, but the project team and publisher do not accept responsibility for any loss, injury or damage arising from such information.
While every effort has been made to achieve strict accuracy in this resource, the publisher would welcome notification of any errors and any suggestions for improvement. Readers are invited to write to us at hello@rtoworks.com.au
.
Business Works is a series of training and assessment resources developed for qualifications within the Business Services Training Package.
Australian Careers College Pty. Ltd
Darwin Campus
37 Gregory St, Parap, NT 0820 Sydney Campus
Level 3, 303 Pitt Street, Sydney NSW 2000
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Contents
Information for students
6
Assessment Task 2: Project Portfolio
6
Section 1: Planning your meetings
12
Section 2: Chairing your meetings
20
Section 3: Meeting follow up
21
Assessment Task 2: Checklist
26
BSBTWK503 Final results record
29
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Student name:
Assessor name:
Date:
Business this assessment is based on:
Meeting 1 description:
Meeting 2 description:
Note: If you are basing this assessment on your own business, the second meeting can only be a follow-
up meeting from the first meeting where a period has passed which has allowed for certain action items and tasks to be completed from the first one and there is activity to report on and discuss and further decisions and action items can be scheduled.
Please refer to student information below prior to commencing this project task.
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Information for students Task 2: Project Portfolio
In this task, you are required to demonstrate your skills and knowledge by working through a number of activities and completing and submitting a project portfolio.
You will need access to:
a suitable place to complete activities that replicates a business environment including a meeting space and computer and internet access
your learning resources and other information for reference
Project Portfolio template
Simulation Pack (if you need a case study).
Ensure that you:
review the advice to students regarding responding to written tasks in the Business Works Student User Guide
comply with the due date for assessment which your assessor will provide
adhere with your RTO’s submission guidelines
answer all questions completely and correctly
submit work which is original and, where necessary, properly referenced
submit a completed cover sheet with your work
avoid sharing your answers with other students.
Assessment information
Information about how you should complete this assessment can be found in Appendix
A of the Business Works Student User Guide
.
Refer to the appendix for information on:
where this task should be completed
how your assessment should be submitted.
Note
: You must complete and submit an assessment cover sheet with your work. A template is provided in Appendix B of the Student User Guide. However, if your RTO has provided you with an assessment cover sheet, please ensure that you use that.
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Activities
Complete the following activities:
1.
Carefully read the following:
This project requires you to manage a meeting on two different occasions. You can engage in meetings with friends, colleagues or classmates to discuss a topic related to your college – or you may have the opportunity to manage a real meeting/s in your workplace. This will depend on the way you are participating in this course. These meetings can be virtual meetings or they may be face-to-face meetings – you can decide along with your assessor what will work best for you.
Your meetings must each run for a minimum of 30 mins but must not exceed 1 hour.
Vocational education and training is all about gaining and developing practical skills
that are industry relevant and that can help you to succeed in your chosen career. For this reason, conducting real meetings will mean that you are applying your knowledge and skills in a relevant, practical and meaningful way! Although these meetings can be simulated in the sense that they are not being held
in an actual workplace – they need to be based on a real need with each meeting attendee contributing from their own ideas and opinions – not staged or scripted as this would never happen in the real world. If you are basing this assessment on your college, ideas for meetings you can arrange include:
WHS meeting in your classroom to discuss your college’s WHS procedures
A physical or virtual meeting between classmates to arrange and discuss the plans for an event or gathering (e.g. end of year workplace dinner)
A meeting to discuss and plan for a charity or sports sponsorship or event
A creative meeting to discuss concept development for a new project or idea
A meeting to review the emergency procedures of the college.
A meeting to brainstorm ideas for student well-being initiatives.
A meeting to discuss potential work opportunities once the students have completed their courses.
A meeting to discuss and design a new mural for a wall on the college grounds.
You will be collecting evidence for this unit in a Project Portfolio. The steps you need to take are outlined below. Before you begin, complete page 4 of your Project Portfolio.
Speak to your assessor to get approval for the meetings you want to manage prior to beginning your portfolio. You need access to a meeting policy and procedure as well as agenda and minutes
templates. Use the ones provided in the Simulation Pack
for this unit if not basing this on a real workplace. If your real workplace does not have policies and procedures or templates already developed, you may use those in the Simulation ACC @ 2023 V1.1 PROJECT PORTFOLIO TASK-2 BSBTWK503 Manage meetings |
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Pack
.
Work through Section 1
of your Project Portfolio
. Steps 2 and 3 form part of Section 1. 2.
Plan your two meetings and verify requirements.
Plan out the two meetings you are going to manage. This includes summarising organisational and legal requirements and describing the meeting requirements and details for each meeting.
During this stage you will need to access your organisation’s meeting policy and any associated procedures. If using the case study, you will find these documents in the Simulation Pack
for this unit.
Verify the meeting requirements for each meeting with relevant individuals. Do this by drafting an email to at least one other person who is your superior (such as your supervisor) to:
verify the planned meeting requirements and details
agree on the conventions relevant to the type of meeting being planned
request a timeline from the individual to report on the outcomes of the meeting
back to them. Separate emails are required for each meeting. Your emails should use appropriate
structure and implicit communication conventions suitable for email. Make sure you
use accurate grammar and spelling.
3.
Finalise meeting arrangements for both meetings.
Assume that your meeting requirements, details and conventions have been approved/verified/agreed to by your supervisor.
Finalise the arrangements for your two meetings. During this step, you need to:
develop an agenda and at least one other supporting meeting paper (e.g. fact sheet) for each meeting.
The meeting agenda and supporting document should align with the purpose and context of the meeting and be written in a way that suits the audience for whom it is intended. Make sure you use accurate grammar and spelling.
send out meeting invites for each meeting.
confirm attendance of all attendees for each meeting.
distribute the agenda and meeting papers for each meeting.
Attach the relevant attachments in Section 1
of your Project Portfolio.
When you are happy with your planning, have checked and edited your work for accuracy, spelling and grammar, submit to your assessor for approval before proceeding to the next activity step. Work through Section 2
of your Project Portfolio
. Step 4 form part of Section 2. ACC @ 2023 V1.1 PROJECT PORTFOLIO TASK-2 BSBTWK503 Manage meetings |
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4.
Conduct your meetings.
Prior to the meetings, you are required to brief the minute-taker on the method for recording the meeting notes (you have already planned for this in Section 1). Do this verbally just before the meeting takes place. If you are basing this assessment on a workplace of your choice, make sure that during your meetings, you encounter, address and resolve at least one problem. Ask your assessor for further guidance if necessary – they can provide you with example problems.
If you are using your college and meeting with other students, your assessor will prompt meeting participants to raise a relevant problem for you to address.
Use the work you’ve done in Section 1 to chair your meeting.
It’s now time to chair your meetings. Your assessor will be looking to see that you:
chair the meetings according to your organisational requirements and any agreed-upon conventions for the types of meetings you have organised (refer back to Section 1
in your Project Portfolio
to refresh your memory).
follow all legal, regulatory and ethical requirements (refer back to Section 1
in your Project Portfolio
to refresh your memory).
promote participation, discussion, problem solving and resolution of issues during the meeting.
keep the meeting on track and within the allocated timeframes for each scheduled agenda item.
communicate effectively during the meeting, including:
o
using relevant communication style, tone and vocabulary suited to the meeting context and participants
o
asking questions to identify required information and listening to the response.
o
asking questions to clarify understanding
o
responding to questions as required. Your briefings to the minute taker and actual meetings can either be viewed in person by your assessor, your assessor can view online via video conferencing software or you may like to video record the session for your assessor to watch later. Your assessor can provide you with more details at this step. You can schedule your meetings to run on the same day or different days if these meetings are being held at separate times and for different and distinct reasons. Your assessor will provide you with more guidance about when the meetings will take place.
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Make sure you follow the instructions above and meet the timeframes as indicated in your meeting agenda and the timeframes in Step 1 above. Attach the relevant attachments in Section 2
of your Project Portfolio.
Also collect the meeting notes from the minute-taker – you will use these in Section
3 of your Project Portfolio
.
Work through Section 3
of your Project Portfolio
. Step 5 form part of Section 3. 5.
Follow up.
After the two meetings have taken place, complete the following activities:
Review the minutes taken for each meeting and edit as necessary. If the method you briefed the minute-taker with (step 4) did not include the use of a minutes template, transfer the information into a template or formal meeting minutes document. Use the template provided in the Simulation Pack
, or any other template relevant to your chosen workplace. Assume that your superior replied to your emails (from step 2) and requested that meeting outcomes be reported within one business day.
Report on the meeting outcomes to your superior (e.g. supervisor) within the designated timelines. Do this by drafting an email to them.
Separate emails are required for each meeting. Your emails should use appropriate structure and implicit communication conventions suitable for email. Make sure you use accurate grammar and spelling.
Distribute and store minutes and other follow-up documentation for each meeting according to the organisational requirements (summarised in Section 1
of your Project Portfolio)
. To do this:
o
distribute the final edited version to the meeting attendees as per meeting
policy timeframes (e.g. via email within 2 working days).
o
store the minutes and any other meeting papers for follow up according to
record-keeping requirements (e.g. using correct file naming conventions within the correct timeframe).
o
reflect on how you managed at least two routine problems you encountered when managing your meetings. Complete Section 3
of your Portfolio and attach the relevant evidence as you work through these steps.
6.
Submit your completed Project Portfolio.
Make sure you have completed all sections of your Project Portfolio, answered all questions, provided enough detail as indicated and proofread for spelling and grammar as necessary. ACC @ 2023 V1.1 PROJECT PORTFOLIO TASK-2 BSBTWK503 Manage meetings |
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Section 1: Planning your meetings
Complete the table to outline general meeting requirements.
Attach proof of the policies and procedures that outline the requirements described below to this section of your portfolio.
Summarise the organisational
requirements for contacting participants and confirming meetings with them.
How will you inform attendees
of the meeting and confirm attendance (e.g. calendar invite, email etc.)?
When will you inform the participants of the meeting?
How and when will you distribute the agenda and supporting documents?
Summarise the organisational
requirements for chairing meetings.
What are the organisational requirements to chair meetings?
Are any templates available for the meeting process?
Are there any other meeting conventions required by your organisation?
Summarise the organisational
requirements for minutes of meetings.
Describe the method for recording meeting notes (if the policies and procedures do not specify a method, develop a method here e.g. take notes on OneNote during
the meeting or add review comments to the agenda etc.)
What are the timeframes for delivery and review of the ACC @ 2023 V1.1 PROJECT PORTFOLIO TASK-2 BSBTWK503 Manage meetings |
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minutes by you and delivery to attendees?
How will you distribute and store minutes (and any other meeting documentation)?
Legal and ethical requirements
Outline the legal requirements
for chairing your meetings. Outline the ethical requirements for chairing your
meetings.
Outline any regulatory requirements for the meetings.
Complete the tables to plan for meeting 1 and 2.
Meeting 1: What is the meeting about?
Meeting purpose
Outline the purpose and objectives of the meeting
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Meeting requirements
Outline the requirements of the meeting include:
timing
location (physical location or virtual platform)
type of meeting (e.g. formal client or project meeting, informal team meeting)?
Meeting details
Who is required to attend this meeting?
Which attendees will be listed as ‘optional’ (or can a proxy attend in
place)?
Outline any other arrangements to consider (e.g. catering, parking, virtual accounts for web-based platform etc.)
Describe any meeting conventions for the type of meeting you are planning (
e.g. should you address participants formally using their surname?)
.
Verify meeting requirements
Who will you verify details with (e.g. supervisor)?
Attach your draft email to verify requirements to this section of your portfolio.
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Meeting 2: What is the meeting about?
Meeting purpose
Outline the purpose and objectives of the meeting
Meeting requirements
Outline the requirements of the meeting include:
timing
location (physical location or virtual platform)
type of meeting (e.g. formal client or project meeting, informal team meeting)?
Meeting details
Who is required to attend this meeting?
Which attendees will be listed as ‘optional’ (or can a proxy attend in
place)?
Outline any other arrangements to consider (e.g. catering, parking, virtual accounts for web-based platform etc.)
Describe any meeting conventions for the type of meeting you are planning (
e.g. should you address participants formally using their surname?)
.
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Verify meeting requirements
Who will you verify details with (e.g. supervisor)?
Attach your draft email to verify requirements to this section of your portfolio.
Complete the tables to finalise meeting 1 and 2 arrangements:
Meeting 1 Develop an Agenda
Use the template provided for this assessment, or any other template relevant to your workplace (you have already identified templates at the start of this section). Make sure your agenda addresses your meeting purpose and shows that you have planned for the meeting to be between 30 minutes and
1 hour.
Attach proof of your agenda to
this section of your portfolio.
Develop supporting meeting papers
What other information should
be provided to meeting participants (include at least one other meeting paper e.g. fact sheet, weblinks, pricelists etc.)? Attach proof of at least one support document to this section of your portfolio.
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Invite meeting attendees and confirm attendance
Inform attendees of the meeting (e.g. calendar invite, email etc.)
Confirm attendance (e.g. accepted calendar invite)
Provide attendees with relevant documentation.
Note: Adhere to organisational procedures to contact and confirm the meeting with the participants. You have already summarised these requirements at the start of this section.
Attach proof of how you invited meeting attendees and
distributed meeting papers (e.g. screen shots of calendar invite and a draft email containing the meeting attachments).
Attach proof of how you confirmed meeting attendance
(e.g. screen shots of accepted
calendar invites).
Meeting 2 Develop an Agenda
Use the template provided for this assessment, or any other template relevant to your workplace (you have already identified templates at the start of this section). Make sure your agenda addresses your meeting purpose.
Make sure your agenda addresses your meeting purpose and shows that you have planned for the meeting to be between 30 minutes and
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1 hour.
Attach proof of your agenda to
this section of your portfolio.
Develop supporting meeting papers
What other information should
be provided to meeting participants (include at least one other meeting paper e.g. fact sheet, weblinks, pricelists etc.)? Attach proof of at least one support document to this section of your portfolio.
Invite meeting attendees and confirm attendance
Inform attendees of the meeting (e.g. calendar invite, email etc.)
Confirm attendance (e.g. accepted calendar invite)
Provide attendees with relevant documentation.
Note: Adhere to organisational procedures to contact and confirm the meeting with the participants. You have already summarised these requirements at the start of this section.
Attach proof of how you invited meeting attendees and
distributed meeting papers (e.g. screen shots of calendar invites and a draft email containing the meeting attachments).
Attach proof of how you confirmed meeting attendance
(e.g. screen shots of accepted
calendar invites).
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Attach:
Meeting policy and procedures
☐
Evidence you have verified meeting 1 requirements (draft email)
☐
Evidence you have verified meeting 2 requirements (draft email)
☐
Meeting 1 agenda ☐
Meeting 1 supporting document
☐
Evidence you have invited attendees to meeting 1
☐
Evidence of attendee confirmation for meeting 1
☐
Evidence of meeting paper distribution for meeting 1
☐
Meeting 2 agenda
☐
Meeting 2 supporting document
☐
Evidence you have invited attendees to meeting 2
☐
Evidence of attendee confirmation for meeting 2
☐
Evidence of meeting paper distribution for meeting 2
☐
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Section 2: Chairing your meetings
In this section, you only need to attach evidence as your assessor will be observing the meetings either in person, online or via a video recording and will complete the assessment checklist based on their observations. Attach:
Evidence you have briefed minute taker for meeting 1 (video recording if your assessor did not observe in person or online)
☐
Recording meeting 1 if your assessor did not observe in person or online
☐
Evidence you have briefed minute taker for meeting 2 (video recording if your assessor did not observe in person or online)
☐
Recording meeting 2 if your assessor did not observe in person or online
☐
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Section 3: Meeting follow up
In this section, you need to attach evidence as you work through activity step 5 in your student instructions. You will also complete some reflections. Meeting 1
Review meeting notes and formalise minutes.
Attach proof of the original and revised meeting minutes to this section of your portfolio.
Report on the meeting outcomes.
Draft an email to summarise the meeting What was discussed?
What was the outcome?
Remember that your email should show that you reported
on the outcomes within 1 business day.
Attach proof that you reported
on the meeting within the designated timeframes.
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Distribute the final edited version of minutes to the meeting attendees as per meeting policy requirements (e.g. via email within 2 working days).
Attach proof of how you distributed the meeting minutes to this section of your
portfolio (e.g. email).
Store the minutes and any other meeting papers for follow up according to record-
keeping requirements (e.g. using correct file naming conventions within the correct timeframe).
Attach proof of how you stored documents according to record-keeping requirements (e.g. screen shot of folders and document naming)
What problem did you encounter during the meeting?
How did you manage this problem? Explain.
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Meeting 2
Review meeting notes and formalise minutes.
Attach proof of the original and revised meeting minutes to this section of your portfolio.
Report on the meeting outcomes.
Draft an email to summarise the meeting What was discussed?
What was the outcome?
Remember that your email should show that you reported
on the outcomes within 1 business day.
Attach proof that you reported
on the meeting within the designated timeframes.
Distribute the final edited version of minutes to the meeting attendees as per meeting policy requirements (e.g. via email within 2 working days).
Attach proof of how you distributed the meeting minutes to this section of your
portfolio (e.g. email).
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Store the minutes and any other meeting papers for follow up according to record-
keeping requirements (e.g. using correct file naming conventions within the correct timeframe).
Attach proof of how you stored documents according to record-keeping requirements (e.g. screen shot of folders and document naming)
What problem did you encounter during the meeting?
How did you manage this problem? Explain.
Attach:
Minute takers copy of minutes meeting 1
☐
Revised and edited copy of minutes meeting 1
☐
Evidence you have distributed minutes to attendees (email or screenshots) meeting 1
☐
Evidence you have reported the outcomes of the meeting within designated timeframe (e.g. email to management) meeting 1
☐
Screenshots of meeting documentation storage and recordkeeping meeting 1
☐
Minute takers copy of minutes meeting 2
☐
Revised and edited copy of minutes meeting 2
☐
Evidence you have distributed minutes to attendees (email or screenshots) meeting 2
☐
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Evidence you have reported the outcomes of the meeting within designated timeframe (e.g. email to management) meeting 2
☐
Screenshots of meeting documentation storage and recordkeeping meeting 2
☐
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Assessment Task 2: Checklist Student’s name:
Did the student:
Completed successfully?
Comments
Yes
No
Plan meeting requirements by:
summarising the organisational requirements for contacting participants and confirming meetings with them
summarising the organisational requirements for chairing meetings (including identifying templates and other meeting conventions)
summarising the organisational requirements for minutes of meetings (including describing the method for recording meeting notes, time frames for delivery of minutes and how minutes will be distributed)
summarising the legal, regulatory and ethical requirements?
For two meetings, plan the meeting details by:
describing the meeting purpose
outlining the timing, location and type of meeting
describing the meeting participants
outlining any other meeting considerations and details
describing meeting conventions for the type of meting being planned
verifying meeting details via draft email?
For two meetings, finalise the meeting arrangements by:
developing an agenda
developing at least one supporting ACC @ 2023 V1.1 PROJECT PORTFOLIO TASK-2 BSBTWK503 Manage meetings |
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meeting paper
inviting meeting attendees
confirming attendance
providing attendees with relevant documentation?
Conduct two meetings including:
prior to the meeting briefing the minute-taker on the method for recording the meeting notes
chairing the meetings according to your organisational requirements and agreed-upon conventions for the types of meetings they have organised
follow all legal, regulatory and ethical requirements
promote participation, discussion, problem solving and resolution of issues during the meeting
keep the meeting on track and within the allocated timeframes for each scheduled agenda item?
Communicate effectively while chairing two meetings including:
using relevant communication style,
tone and vocabulary suited to the meeting context and participants
asking questions to identify required
information and listening to the response
asking questions to clarify understanding
responding to questions as required?
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Follow up two meetings by:
reviewing meeting notes and formalise minutes
reporting on the meeting outcomes (by drafting an email within 1 busines day)
distributing the final edited version of minutes to the meeting attendees
as per meeting policy requirements
storing the minutes and any other meeting papers for follow up according to record-keeping requirements
reflecting on the problem encountered?
Task outcome:
Satisfactory
Not satisfactory Assessor signature:
Assessor name:
Date:
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BSBTWK503 Final results record
Student name:
Assessor name:
Date
Final assessment results
Task
Type
Result
Satisfactory
Unsatisfactory
Did not submit
Assessment Task 1
Knowledge questions S
U
DNS
Assessment Task 2
Project Portfolio
S
U
DNS
Overall unit results
C
NYC
Feedback
My performance in this unit has been discussed and explained to me.
I would like to appeal this assessment decision. Student signature: _________________________________________ Date: _________________
I hereby certify that this student has been assessed by me and that the assessment has been carried out according to the required assessment procedures. Assessor signature: _______________________________________
Date: _________________
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Listed below are five terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the
correct term.
Goodwill
Amortization
Copyright
Patent
1
Impairment
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Its legal life and its useful economic lie can differ greatly.
Systematic and rational allocation of the cost of an intangible asset over its useful economic life.
Only arises from a business combination.
Has a legal life of twenty years.
The condition in which the future recoverability of an asset is in question.
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AASB 138 Intangibles prohibits the recognition of the following internally generated identifiable intangibles:
I II III IV
Brands No No No Yes
Mastheads No Yes Yes Yes
Publishing titles No No Yes Yes
Customer lists No Yes No Yes
Select one:
a.
I
b.
II
c.
III
d.
IV
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Using the mAcrs rates what is book value of $2500 computer after 1 year
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Amortization entries
Chart of Accounts
Starting question
Journal
Instructions
Kleen Company acquired patent rights on January 10 of Year 1 for $2,800,000. The patent has a useful life equal to its legal life of eight years. On January 7 of
Year 4, Kleen successfully defended the patent in a lawsuit at a cost of $38,000.
Required:
a. Determine the patent amortization expense for Year 4 ended December 31.
b. Journalize the adjusting entry on December 31 of Year 4 to recognize the amortization. Refer to the Chart of Accounts for exact wording of
account titles.
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Qw.1.
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QUESTION 20
All patents and copyrights:
Belong to a single person.
Are the property of the U.S. Government.
Discourage innovation.
Are scheduled to end someday.
Will continue indefinitely.
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The balance on a credit card, that charges a 10.5%
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finance charge = $ [?]
Round to the nearest hundredth.
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Capital and Revenue Expenditures
On August 5, GTS Co. paid $3,280 to repair the transmission on one of its delivery vans. In addition, GTS paid $57 to install a GPS system in its van.
Journalize the entries for the transmission. If an amount box does not require an entry, leave it blank.
August 5
Journalize the entry for GPS system expenditures. If an amount box does not require an entry, leave it blank.
88
August 5
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Impaired goodwill and amortization of patent
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Conceptual Question
Ito Ltd. receives a local government grant to help defray the cost of its plant facilities.
The grant is provided to encourage Ito to move its operations to a certain area.
Explain how the grant might be reported. Your answer must be supported by referring
to relevant accounting standards.
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Wardell Company purchased a minicomputer on January 1, 2022, at a cost of $56,000 The computer was depreciated
using the straight-line method over an estimated five-year life with an estimated residual value of $8,000. On January 1,
2024, the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to
$2,000.
2. Prepare the year-end journal entry for depreciation on December 31, 2024. Assume that the company uses the double-declining-
balance method instead of the straight-line method.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round
intermediate calculations. Round…
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Sophie Sue Breeders has the following voluntary withholdings to remit:
AFLAC payable: $600.00
401(k) payable: $1,320.00
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Garnishments payable: $439.00
United Way contributions payable: $280.00
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Required:
Create the General Journal entry on June 11, 2021, for the remittance of these withheld amounts. (If no entry is required for a
transaction/event, select "No journal entry required" in the first account field.)
View transaction list
Journal entry worksheet
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nt Aid
Home | Federal Student Aid
Filling Out the FAFSA® Form F X
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Common categories of a classified balance sheet include Current Assets, Long-Term Investments, Plant Assets, Intangible Assets,
Current Liabilities, Long-Term Liabilities, and Equity. For each of the following items, identify the balance sheet category where the item
typically would best appear. If an item does not appear on the balance, indicate that instead.
Account Title
1. Long-term investment in stock
2. Depreciation expense-Building
3. Prepaid rent (2 months of rent)
4. Interest receivable
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5. Taxes payable (due in 5 weeks)
6. Automobiles
7. Notes payable (due in 3 years)
8. Accounts payable
9. Cash
10. Patents
Classification
Account Title
11. Unearned services revenue
12. Accumulated…
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Kareem Construction Company has the following amounts of interest-bearing debt and common equity capital:262 Part 3: Planning for the FutureCopyright 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s).Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.FINANCINGSOURCEDOLLARAMOUNTINTERESTRATECOST OFCAPITALShort-term loan $200,000 12%Long-term loan $200,000 14%Equity capital $600,000 22%Kareem Construction is in the 30 percent average tax bracket.A. Calculate the after-tax WACC for Kareem.B. Show how Kareem’s WACC would change if the tax rate dropped to 25 percent and the estimated cost of equity capital were based on a risk-free rate of 7 percent,…
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Which of the following statements concerning intangibles is true?
a. a copyright should be considered an intangible with an indefinite lifeb. organization costs must be expensed as incurredc. a patent should be amortized over the shorter of the inventor’s life or its economic lifed. the registration of a trademark or tradename lasts for 20 years and is nonrenewable
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Es.5 (LO 1, 2) (Preparation of a Corrected Statement of Financial Position) Bruno SpA has decided to expand its operations. The bookkeeper
recently completed the following statement of financial position in order to obtain additional funds for expansion.
11
Bruno SpA
Statement of Financial Position
December 31, 2022
Current assets
Cash
€260,000
Accounts receivable (net)
340,000
Inventory (at lower-of-average-cost-or-net realizable value)
401,000
Trading securities-at cost (fair value €120,000)
140,000…
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- Part 3: On December 31, 2026, the fair value of the copyright is $3,400,000. Prepare all journal entries related to the copyright for 2025, if necessary. Date Account Debit Credit 12/31/2026 12/31/2026arrow_forwardWhich of the following does not have to be shown for copyright protection to be granted? Group of answer choices The work is original. The work is fixed in a durable medium. The work exhibits some degree of creativity. The work has a present or potential value.arrow_forwardBusiness law class Bam 317. I need assistance with an original essay free of plagiarism following standard essay format of 400-500 words for the following question: “What changes should be made to copyright law to reflect the ease with which much creative material can be produced and distributed over the internet? What concerns are there with Anya such law?book isbn -13 9780136085546 Henry Cheeseman seventh edition 2010 what is the cost for this assistance?arrow_forward
- t: Modi X * CengageNOWv2 | On x * Cengage Learning m/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=. CD B Milestone Two Guideli x G module 5 problem set x A eBook Show Me How Impaired Goodwill and Amortization of Patent On April 1, a patent with an estimated useful economic life of 12 years was acquired for $43,200. In addition, on December 31, it was estimated that goodwill of $41,000 was impaired. a. Record the acquisition of patent. If an amount box does not require an entry, leave it blank. April 1 b. Journalize the adjusting entry on December 31 for the amortization of the patent rights. Do not round intermediate calculations. If an amount box does not require an entry, leave it blank. Dec. 31 C. Journalize the adjusting entry on December 31 for the impaired goodwill. If an amount box does not require an entry, leave it blank. Dec. 31 Next Previous 3:24 PM Check My Work 11/28/2021 56°F Mostly cloudy a O E - A 0 home delete prt sc %23arrow_forwardhelp please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all workingarrow_forwardesc Listed below are five terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the correct term. Goodwill Amortization Copyright Patent 1 Impairment « Previous ! Q 8: F1 ©2 2 F2 W # 3 20 F3 E 54 $ ✓[Choose ] Its legal life and its useful economic lie can differ greatly. Systematic and rational allocation of the cost of an intangible asset over its useful economic life. Only arises from a business combination. Has a legal life of twenty years. The condition in which the future recoverability of an asset is in question. [Choose] 000 F4 R [Choose] [Choose ] % 5 ܐ F5 T MacBook Air ^ 6 F6 & 7 Ja 8 F7 * 00 8 DII FB - Next 9 DD F9 - 0 an F10arrow_forward
- AASB 138 Intangibles prohibits the recognition of the following internally generated identifiable intangibles: I II III IV Brands No No No Yes Mastheads No Yes Yes Yes Publishing titles No No Yes Yes Customer lists No Yes No Yes Select one: a. I b. II c. III d. IVarrow_forwardUsing the mAcrs rates what is book value of $2500 computer after 1 yeararrow_forward* CengageNOWv2 | Online teachin x + Assignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Show Me How Calculator Print Item Amortization entries Chart of Accounts Starting question Journal Instructions Kleen Company acquired patent rights on January 10 of Year 1 for $2,800,000. The patent has a useful life equal to its legal life of eight years. On January 7 of Year 4, Kleen successfully defended the patent in a lawsuit at a cost of $38,000. Required: a. Determine the patent amortization expense for Year 4 ended December 31. b. Journalize the adjusting entry on December 31 of Year 4 to recognize the amortization. Refer to the Chart of Accounts for exact wording of account titles.arrow_forward
- help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all workingarrow_forwardQw.1.arrow_forwardQUESTION 20 All patents and copyrights: Belong to a single person. Are the property of the U.S. Government. Discourage innovation. Are scheduled to end someday. Will continue indefinitely.arrow_forward
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- Intermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage LearningSurvey of Accounting (Accounting I)AccountingISBN:9781305961883Author:Carl WarrenPublisher:Cengage Learning
- Business Its Legal Ethical & Global EnvironmentAccountingISBN:9781305224414Author:JENNINGSPublisher:Cengage
Intermediate Accounting: Reporting And Analysis
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Survey of Accounting (Accounting I)
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