...Rocky Mountain Chocolate Factory Inc.— Preparing Financial Statements – Solution Adapted a. Rocky Mountain Chocolate Factory manufactures the inventory it sells at stores it owns and sells product to franchisees. The company is a manufacturer/retailer; and thus one can predict that the balance sheet will include inventories and property and equipment on the asset side. As the company is a retailer, we would not expect a large accounts receivable balance (their sales are for cash or on credit cards, which are the same as cash from their perspective). However, their franchisees may owe substantial royalty payments which would be included as receivables as well as amounts due to Rocky Mountain for supplies and advertising. The liability side of the balance sheet likely includes a number of current liabilities (for payments due to suppliers and employees) and long-term debt if the company has borrowed or uses capital leases to finance store purchases. b. See the solutions toward the end of the document. General journal entries are NOT covered or used in the course – shown here FYI. 1. Dr. Inventories (CurA) 7,500,000 Cr. Accounts payable (CurL) 7,500,000 To record purchase of inventory on account 2. Dr. Inventories (CurA) 6,000,000 Cr. Accrued salaries and wages (CurL) 6,000,000 To record factory wages incurred 3. Dr. Cash and cash equivalents (CurA) 17,000,000 ...
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...Written Analysis and Communication Rocky Mountain Mutual: Promoting Fun or Fitness? Submitted to: Submitted by: Prof. Manaswini Acharya Roll No. : 15PGDM005 Section- A Date of Submission: 10th July 2015 ` MEMORANDUM From : Joseph Mirola, Claims Manager To : Mr. Zachary Evans, Vice President Operations Date : 10th July 2015 Subject : Benefits of Fitness Center This report includes a detailed analysis of the situation at hand and the different options available. The major criteria used to evaluate the case are Employee benefits and Cost to Company. After much analysis my recommendation would be to utilize the space used for fitness center in the optimized way wherein half of the space can be used for Corporate Information Systems and the other half can be used for fitness center. Executive Summary Rocky Mountain Mutual is a growing insurance company which had built a new headquarters complex in remote area in Utah. The complex was included with the fitness center featuring an indoor walking/running track, a swimming pool and an exercise room. As per the reports of the last two years, the medical costs and the absenteeism rates of 35 percent of employees who used the fitness center has reduced. Zachary Evans, the Vice President of Operations, who is profit centric, wanted the fitness center to shut down as it is expensive to maintain and run. Joe Mirola...
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...door with the aroma from the pumpkin pie, pot roast, and cheesy mashed potatoes being made in the kitchen. Then, the family across the street decorating their 10 feet Christmas tree through the window with ornaments as colorful as the rainbow and lights as bright as the sun. With that being said, you would see Christmas lights on each house and everyone in the neighborhood singing Christmas carols. You wouldn’t even be able to drive your lifted 2013 Chevrolet due to how much snow would be on the roads. The only way you could see people getting around are the teenagers on their bright blue or bright pink snowmobiles. If you were to also go down to the Southern Rocky Mountains, you would see kids of all ages and adults snowboarding or skiing. Swishing from side to side and doing tricks like no other down this ginormous mountain. Many people don’t see the joy in the freezing cold, but I choose thirty degrees over ninety degrees any...
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...Rocky Mountain Chocolate Factory Inc.— Preparing Financial Statements Teaching Notes: This case introduces students to the preparation of financial statements. Students are required, first, to consider the industry in which Rocky Mountain Chocolate Factory operates and determine the kinds of line items that would appear on the company’s balance sheet. Thus, the case encourages students to consider the broader business environment in which the company operates. The case gets students to use a spreadsheet to capture a series of chronological transactions. Students are required to record journal entries for both transactions and accounting adjustments. Students use the information from the spreadsheet to prepare a balance sheet and an income statement. The case provides guidance on how a spreadsheet should be set up so that students get immediate feedback about their progress. The case includes a suggested spreadsheet and recommends that income statement transactions NOT be posted directly to Retained earnings. The spreadsheet has subtotals for the unadjusted and pre- and post-closing trial balances. Facility with spreadsheets is a must for business professionals. Acquiring those skills takes time and practice. Thus, students ought to be discouraged, in our opinion, from photocopying the casebook spreadsheet and writing in the journal entries by hand in lieu of using a computerized spreadsheet. We use this case to reinforce the difference between cash-basis and accrual accounting...
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...#3 Danielle Liberatoscioli The article I have chosen for this assignment is titled “Climate change accelerating death of Western forests” by Trevor Hughes. This article is about how the aspen and pine forests of the Rocky Mountains are dying off at a fast rate due to climate change. Wildfires and drought are two of the main causes as to why the forests are depleting. The main underlying issue is climate change. The article goes into talking about how if the emissions of heat-trapping gases continue at the rate they are at, the area suitable for Rocky Mountains lodge pole pine will decline drastically. The National forests play a key role in the economy for Colorado. National parks in the states of Colorado, Montana and Wyoming host around 11 million visitors a year. This generates $1 billion in tourist spending. With the land changing, due to the climate changes, they landscape could significantly change. This could result in tourist and visitors no longer wanting to visit the areas. The article talks about how the trees grow in different areas depending on the seasons. If climate change alters the cold in the winter and the hotness of the summers, the trees will no longer continue to grow in those spots. Stephen Saunders, President of the Rocky Mountain Climate Organization said, “If we continue changing the climate, we may bring about much more fundamental disruption to these treasured national landscapes. I believe this article ties in directly with what we are learning...
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...Many people did not believe industry was developed enough and this idea was plausible. The doubts stemmed from the obstacles of finance, natural barriers such as the Rocky Mountains, the Sierra Mountains and the Mississippi River, and sheer impracticability. As years passed, the mass migration to the West especially due to the Gold Rush made the requisite for a transcontinental railroad crucial. “The project for construction of a great Railroad through the United States of America, connecting the Atlantic with the Pacific Ocean, has been in agitation for over fifteen years.” (Judah) In 1862 and 1864, the Pacific Railway Acts were passed which granted the railroad companies twelve million acres of land and twenty seven million dollars from the government to support the construction of the railroad. Railroads were not considered a government service, so they had to be built privately by companies. But the government supplied...
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...Wyoming’s history occurred from 1262 to 1281. The droughts of the 1930’s and 1950’s, which have been used as benchmarks for all other droughts in the United States in recent times (Woodhouse et al. 2002), are ranked 149th and 28th respectively in comparison (Gray et al. 2004). The five top ranking droughts for 10, 15, and 20 year periods are all prior to the 1800’s, with the four driest single years being 1263, 1274, 1278, and 1280 (Gray et al. 2004). This indicates a change in precipitation patterns in the Big Horn Basin area of Wyoming since the 18th century, as all recent droughts have been mild when compared to those of Wyoming’s past. Droughts in Wyoming’s future are unpredictable and uncertain; however, Richard Guldin of the Rocky Mountain Forest and Range Experiment Station in Fort Collins, Colorado, has made some predictions for the water situation in the United States as far ahead as 2040. According to Guldin, 526,600 million gallons of freshwater will be withdrawn per day in the year 2040 versus the 385,200 million gallons...
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...In the 19th century no railroad went further west than St. Joseph on the Missouri border. Several people advocated for the construction of a transcontinental railroad to increase trade and unify the country. Congress rejected the idea several times because of different obstacles. Finally, Theodore Judah drafted a plan the solved two of the problems with previous plans. He explained how to finance the railroad and found a route through the mountains. Theodore Judah went west and began to build the first railroad tracks in California in 1854. He hoped to one day connect his railroad to a transcontinental railroad. The Sierra Nevada Mountains, however, remained a massive obstacle. Eventually, he found a route that could take the railroad through...
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...pictures caught at Yellowstone. This park has an abundance of geysers, hot springs and also one Supervolcano. Supervolcanoes have the ability to kill billions of people and destroy a whole continent; the magma of this volcano can reach up to 1000 cubic miles away. Although it is not to fear now, civilians still may ask: what is a supervolcano, when did the last one erupt, and what would happen if one erupted today? A hotspot is developed above a mantle plume. A mantle plume is an area of warm, rushing mantle; only 35 of these exist in the entire world. The hotspot can produce magma that rises up to the rigid plates of the lithosphere, yet unable to break fully through, thus creating a supervolcano. Supervolcanoes form depressions, not a mountain like the composite volcanoes. When these supervolcanoes are growing, they merely look like a small hill or a bulge in the ground until ready to burst. The pressure underground keeps building up until it can no longer hold it in. "A super-eruption is the world's biggest bang", says Prof. Bill McGuire of the Benfield Greig Hazard Research Centre at the University of London. "It's a volcanic explosion big enough to dwarf all others and with a reach great enough to affect everyone on the planet." The modern man to this day has not witnessed a supervolcano explosion. The most recent supervolcano eruption did not occur at Yellowstone, but in Toba, Indonesia. This event occurred 74,000 years ago and had the potential to trigger another ice age...
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...American Experience, "Transcontinental Railroad" is about the Transcontinental Railroad that was known as the engineering marvel in the 19th Century. This railroad opened up new economies in the West of America. Many conflicts occurred with the labor force, between Theodore Judah and Charles Crocker before the railroad was even built. The Transcontinental railroad caused many problems from it being built and people trying to help for their own purposes. In the end it changed the lives of the Chinese, Mormons, Plain American Indian Tribes and American forever. In the beginning Judah came up with a plan on how to build the railroad but Crocker took that over once he realized the contracts that Abraham Lincoln gave them to build from the East...
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...Rocky Mountain Mutual Utah Date: June 19, 2015 To Zachery Evans Vice President, Operations From Joseph Mirola Claims Manager Memo: This report entails discussion on the viability of the fitness centre. Cost vs benefits have been studied and ways to decrease cost and increase revenue have been looked at. The options have been evaluated considering the need for space and the high cost to maintain the place. Based on this analysis it is recommended to open the fitness centre to family members of employees at a membership fee which would increase enough revenue to lease a facility to accommodate the Information Systems Department Executive Summary Viability of the Fitness Centre at Rocky Mountain is discussed. Investments and maintenance cost is very high. They are not justified by the usage of the facility. Space is needed to accommodate Information Systems Department and management is contemplating closing the fitness centre. This is would lead to decreased morale among regulars to the fitness centre. Solutions have been discussed and the most feasible alternative is: 1. Formally introduce the Wellness Program 2. Make it open to families of employees at a membership fee 3. Use funds generated in the process to lease a place for the Information Systems Department Upon evaluation this option looks viable and should be implemented. Situation Analysis Rocky Mountain Mutual, an insurance company built its head quarters in Utah, given...
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...Conservation is the appropriate use of land controlled by humans to ensure the elimination of potential waste of natural resources. Preservation is leaving land and the natural resources it has maintaining its natural state; protecting it from any harmful human manipulation. I believe humans can harvest forest resources in an environmentally friendly way. Although not left in its natural state managed to do away with misuse and make the most of the natural resources for future generations to benefit from. Watching the Bridger Teton video and soaking in the spellbinding and breath taking scenery of Yellowstone; I can clearly see where the debate can become heated. The beauty of Bridger Teton is one of a kind, and the idea it will one day be gone or in a state nowhere its current grander is a frightening notion. However, so is the energy crisis America will face in the coming years and generations to that will follow. If the lands of the Greater Yellowstone, will be used for their natural oil and gas resources this will entail the drilling, construction of roads and pipelines the possibility of maintaining its current state seems impossible. I am inclined to believe as stated in the Bridger Teton piece “I’m not against oil and gas exploration, per se, in Wyoming. I am against it in some of these areas that are unique.” If we can preserve “the heart” of Yellowstone and conserve additional lands in Wyoming it is possible to reap the benefits of these luscious lands. ...
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...Jimmie Hill A.P U.S History Mr. Peterson 9/5/12 Lewis and Clark exploration American history is accompanied by a long list of explorers who first discovered and who explored the massive continent. All of the explorers had an impact on the development of America. The Lewis and Clark expedition, also known as the Corps of Discovery, stands prominently at the top part of this list. The Lewis and Clark Expedition has had a significant political, social, and economic effect on America. They were the first to map out the west and set off westward expansion. Without the success of the expedition growth of America would have taken five times as long, as predicted by Thomas Jefferson. The Expedition had a drastic political effect on The United States of America. The area in which the expedition was to explore was very close along Spanish territory and a portion of the expedition was in Spanish territory. The Spanish government was very uneasy with the Corps advancing towards them because they thought The United States was attacking them. They dispatched a small group to intercept the Corps however they nearly missed them. Another political impact was the now issue of Indian relations. America just acquired a great deal of land that was formerly owned by Indians and they now had to explain to them that the land was no longer theirs and that they were now a part of the United States. Indian relations would be fine until they were forced to move off their land. The United States...
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... The myth ¨A Blackfoot Legend¨ came from the tribe named Blackfoot (siksika). They got the name for the dark colored moccasins they wore.They lived on the Great Plains of Montana and Canadian provinces. The tribe originally came from Asia and later moved to northern Montana. The Blackfoot people still live there today, a total of around 25,000. Blackfoot is a common Native American group. One of the most common chiefs was Crowfoot, who lead the people in Canada during the 19th century. He created peace between the Blackfoot nation and the Canadian government. The culture for the Blackfoot people was not much different then the culture today; the kids played and hunted for food. Women were more respected. They took care of the house and the children. Men took care of the food and went to war when help was needed. There was a slight decrease in population because of an outbreak of smallpox. The Blackfoot tribe believed in many gods but the most popular was sun god, also believed in the supernatural god named Napi, meaning ‘The Old Man’. Blackfoot tribe also believed the animals had powers of their own. This tribe was very independent and is easy to see the amount of respect inside the tribe just from this story “A Blackfoot Legend”. The myth “A Blackfoot Legend” is a creation myth. It shows the tribe’s view of how the earth was created. This Myth explains the way the man and women created the way of the land. The man would have the first word on the new law and the woman would...
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...Unit 3 Case Montana Mountain Biking Jerry Singleton founded Montana Mountain Biking ( MMB) 18 years ago. MMB offers one week guided mountain biking expeditions based in four Montana locations. Most of MMB’s new customers hear about the company and its tours from existing customers. Many of MMB’s customers come back every year for a mountain biking expedition; about 80 percent of the riders on any given expedition are repeat customers. Jerry is happy with this high repeat percentage, but he is worried that MMB is missing a large potential market. He has been reluctant to spend a lot of money on advertising. About 10 years ago, he spent $ 80,000 on a print advertising campaign that included ads in several outdoor interest and sports magazines, but the ads did not generate enough additional customers to cover the cost of the advertising. Five years ago, a marketing consultant advised Jerry that the ads had not been placed well. The magazines did not reach the serious mountain bike enthusiast, which is MMB’s true target market. After all, a casual mountain bike rider would probably not be drawn to a week long expedition. Another concern of Jerry’s is that more than 90 percent of MMB’s customers come from neighboring states. Jerry has always thought that MMB was not reaching the sizable market of serious mountain bike enthusiasts in California. He talked to the marketing consultant about buying an address list and sending out a promotional mailing...
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