College of Administration and Finance SciencesAssignment (2)
Deadline: Saturday 03/June/2023 @ 23:59
Course Name: Advanced Financial
Accounting
Student’s Name:
Course Code: ACCT 302
Student’s
Semester: 3rd
CRN:
Academic Year: 1444 H
For Instructor’s Use only
Instructor’s Name: Rabab farrash
Students’ Grade:
/15
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY
• The Assignment must be submitted on Blackboard (WORD format only) via allocated
folder.
• Assignments submitted through email will not be accepted.
• Students are advised to make their work clear and well presented, marks may be
reduced for poor presentation. This includes filling your information on the cover
page.
• Students must mention question number clearly in their answer.
• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students or
other resources without proper referencing will result in ZERO marks. No exceptions.
• All answers must be typed using Times New Roman (size 12, double-spaced) font.
No pictures containing text will be accepted and will be considered plagiarism.
• Submissions without this cover page will NOT be accepted.
College of Administration and Finance Sciences
(1) Stubben Corporation is a 90%-owned subsidiary of Parker Corporation, acquired
for $290,000 on 1/1/2005.
o Investment cost was equal to book value and fair value.
o Stubben’s net income in 2005 was $80,000, and Parker’s income, excluding its
income from Stubben, was $100,000.
o Parker’s income includes a $8,000 unrealized gain on land that cost $40,000 and
was sold to Stubben for $48,000.
o Assume that Stubben sold the land in 2007 for $64,000. Assume Parker adjusts
for this transaction in the equity accounts.
o Split up the adjustment for unrealized gains proportionately.
Required:
1. What Entry(ies) would Parker make in 2005 and 2007?
2. Prepare the consolidation entries at 12/31/2005, 12/31/2006, and 12/31/2007.
(5 Marks)
(2) Relationship between Currencies and Exchange Rates:
Exchange Rates
January 1, 2022
June 30, 2022 December 31, 2022
Direct Exchange
Rate
Indirect Exchange
Rate
Required:
a) Choose any two currencies of the two nations
b) Determine the Direct and Indirect Exchange Rates on the above given dates
in table.
College of Administration and Finance Sciences
c) Explain clearly the Decrease or Increase in the DER and IER during the two
period given in the table.
d) Explain Relative Strengths and Weaknesses of these currencies during these
periods.
e) Discuss the impact of Changes in the Exchange Rates on the Import and
Export of these nations.
(5 Marks)
(3) Partnership form of business organisation has certain pros and cons. Explain any
Two advantages and Two Disadvantage of Partnership form of business
organisation.
(5 Marks)
College of Administration and Finance Sciences
Assignment (2)
Deadline: Saturday 03/06/2023 @ 23:59
Course Name: Cost Accounting
Student’s Name:
Course Code: ACCT 301
Student’s ID Number:
Semester: 3rd
CRN:
Academic Year: 1444 H
For Instructor’s Use only
Instructor’s Name: Habiba Moabber
Students’ Grade:
/15
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY
• The Assignment must be submitted on Blackboard (WORD format only) via allocated
folder.
• Assignments submitted through email will not be accepted.
• Students are advised to make their work clear and well presented, marks may be
reduced for poor presentation. This includes filling your information on the cover
page.
• Students must mention question number clearly in their answer.
• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students or
other resources without proper referencing will result in ZERO marks. No exceptions.
• All answers must be typed using Times New Roman (size 12, double-spaced) font.
No pictures containing text will be accepted and will be considered plagiarism.
• Submissions without this cover page will NOT be accepted.
College of Administration and Finance Sciences
Assignment Question(s):
(Marks 15)
Q1. What are non-routine operating decisions? Explain with suitable numerical examples how
companies decide to take the following decisions:
i.
Keep or drop decisions
ii.
Constrained Resource Decisions (Two Products; One Scarce Resource)
(3 Marks)
Note: Your answer must include numerical examples for these two decisions. You are required to
assume values of your own and they should not be copied from any sources.
(Chapter 4)
Answer:
Q2. a) What are the differences between single and dual rate allocation? Explain with suitable
examples.
(2 Marks)
b) Provide a numerical example for single rate allocation and dual rate allocation and explain
the process of allocating support department costs to the operating department, assuming that:
•
The company has two support departments “S1 & S2” and two operating departments “O1 &
O2.”
•
The company use the direct method to allocate support department costs.
(2 Marks)
Note: You are required to provide numerical examples assuming the values of your own and they
should not be copied from any sources.
Answer:
(Chapter 8)
College of Administration and Finance Sciences
Q3. OFL Ltd. manufactures plastic products and makes three products, P1, P2 and P3. In 2016,
the joint costs of three products were SAR 135,000. Following are the details related to the
number of units and selling price per unit:
(4 Marks)
Product
Units
Selling Price per unit
P1
6,000
SAR 30
P2
3,000
SAR 20
P3
1,000
SAR 15
Allocate the joint costs to each product using:
i.
Physical volume method
ii.
Sales value at the split-off method
(Chapter 9)
Answer:
Q4. The following data are related to FDL Company for the year 2017:
Budgeted selling price per unit
=
SAR 425 per unit
Total fixed costs
=
SAR 84,000
Variable costs
=
SAR 110 per unit
You are required to prepare a flexible budget for 400, 500, 600 and 700 units.
Answer:
(4 Marks)
(Chapter 10)
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