Innovative Entrepreneurs—Walker and Ford

Here you will focus on the business approaches of Madame C. J. Walker and Henry Ford. Both developed innovative and successful approaches in a time of rapid economic change. You will compare them in the way they started their respective businesses and the key innovative features that made each successful. One might find virtues, problems and successes associated with both. You might see elements of each in strategies of later leaders and related issues even today.

Sources: Schultz, p. 396–7 (only Ford is discussed in our textbook). For Madam C. J. Walker (1867–1919), see http://www.madamcjwalker.com/bios/madam-c-j-walker/; and https://www.pbs.org/wnet/african-americans-many-rivers-to-cross/history/100-amazing-facts/madam-walker-the-first-black-american-woman-to-be-a-self-made-millionaire/ . For Henry Ford, see https://www.history.com/topics/inventions/henry-ford.

 

  

  • Use Standards (SWS). The format      is different than other formats like APA. Please take a moment to review      the SWS documentation for details.
  • Be typed, double spaced between lines, using Times New Roman font, Calibri,      Arial, or Courier (size 10, 11, or 12), with one-inch margins on all      sides; citations and sources must follow SWS format. You must have a Sources      list at the end; each source listed must also be cited in the body of the      paper with an in-text citation. Check with your professor for any      additional instructions. 
  • The preferred      file software is Microsoft Word (part of MS-Office). Alternatively, a student can use      Windows’ WordPad (not NotePad) or OpenOffice. (Please do not submit files in .pdf format or Apple’s Pages or Google      docs.) 
  • Include a cover page containing the title of the      assignment, the student’s name, the professor’s name, the course title,      and the date. The cover page and the Sources page are not included in the      required assignment page length.
  • The      body of the paper      should be five paragraphs and a total of 500-to-800 words in length. The 500 minimum is firm; you really have      not adequately developed the paper if less than that. The 800 maximum is a      loose guideline. The body of the      paper is to be double-spaced. Typically, if you follow these instructions, the body of your paper      will be 2-1/2 to 3-1/2 pages in length—add a page for your title page and      another for your sources list and that then gets to 4-1/2-to 5/1/2. But,      the length requirement is evaluated by word count.

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describe facts, truths, and principles in a way that facilitates understanding

ou need 4 sources. Where did you get your information from? Head knowledge or things you “just already know” is not enough. Make sure it is in APA format. You can check your formatting with this website: https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_formatting_and_style_guide/reference_list_author_authors.html
Follow the proper structure of an outline. Use your text to help. This video may provide some clarification. https://www.youtube.com/watch?v=FQf-Gluczk4 “Speech Outlining”
Do not leave on the labels “Main Point 1, Supporting Idea 1, etc.” Delete the labels and leave your content.
Only use 12 font, Times New Roman or Arial.
Informative Topic: Informative Speech is one whose goal is to explain or describe facts, truths, and principles in a way that facilitates understanding. They are designed to educate audiences. They do not talk about controversial topics such as the death penalty or abortion. Informative Speeches do not take sides on a topic. Informative Speeches only do one thing: they inform.

Outline

TIPS: Each item must be written in a complete sentence. Avoid short phrases and single words. Each item, including your roman numerals, must be written in a complete sentence that is grammatically correct.

Your Informative Outline must be submitted as a MS Word or PDF attachment. Pages or Google Docs are not compatible with Blackboard. Please feel free to use the following outline templates to help you with your outline.

Standard Speech Outline Format

Thesis: Your main assertion or idea; the core of your speech.

Specific Purpose: What you hope to achieve from this speech

Introduction:

TOPIC: HERBS AS MEDICINE

Gain Attention of Audience
Orient the audience to your topic
Supporting Idea #1___________________________________
Supporting Idea #2___________________________________
Supporting Idea #3___________________________________
Body

Topic Sentence for Supporting Idea #1______________________




Conclusion/Transition
Topic Sentence for Supporting Idea #2_____________________








Topic Sentence for Supporting Idea #3




Conclusion/Transition
Conclusion

Conclusion/Restatement of Thesis_________________________




Powerful Concluding Sentence

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Accounting Project

Sheet1
On October 1, Thomas Edison organized Edison Consulting, on October 3, the owner contributed $75,000 cash. On October 31, the company’s records show the following items and amounts. Use this information to prepare the following statements: Income Statement, Statement of Owner’s Equity, Balance Sheet, and Statement of Cash Flows
Cash $12,000 Owner Withdrawals $2,500
Accounts Receivable $24,000 Consulting Fees Earned $25,000
Office Supplies $1,200 Rent Expense $4,500
Land $30,000 Salaries Expense $12,000
Office Equipment $15,000 Telephone Expense $250
Accounts Payable $1,950 Miscellaneous Expenses $500
Owner Investments $75,000
Income Statement for the Month Ended October 31
Revenues:
Consulting Fees Earned
Expenses:
Rent Expense
Salaries Expense
Telephone Expense
Miscellaneous Expense
Total Expenses
Net Income (loss)
Statement of Owner’s Equity for the Month Ended October 31
Edison, Capital October 1 $0
Add:
Investment by Owner
Net Income
Less:
Withdrawals by Owner
Net Loss
Edison, Capital, October 31
Balance Sheet as of October 31
Assets Liabilities
Cash Accounts Payable
Accounts Receivable
Office Supplies
Land Owner’s Equity
Office Equipment Edison, Capital
Total Assets Total Liabilities and Equity
Statement of Cash Flows for the Month Ended October 31
Assume the following when preparing the Statement of Cash Flows:
A. The owner’s initial investment consists of $45,000 in Cash and $30,000 in Land.
B. The company’s $15,000 equipment purchase is paid in Cash.
C. The company’s revenue consists of $1,000 in Cash and $24,000 in Accounts Receivable.
D. The company’s Accounts Payable consists of the $1,200 Office Supplies purchase and the $250 Telephone and $500 Miscellaneous Expenses
E. The company’s Rent and Salaries Expense is paid in Cash.
Cash flows from operating activities
Cash received from customers
Cash paid to employees
Cash paid for rent
Cash paid for telephone expenses
Cash paid for miscellaneous expenses
Net cash used by operating activities
Cash flows from investing activities
Cash paid for office equipment
Net cash used by investing activities
Cash flows from financing activities
Investments by owner
Withdrawals by owner
Net cash provided by financing activities
Net increase in cash
Cash balance, July 1 $0
Cash balance, July 31 $12,000
First, prepare general journal entries for the following transactions of Mater Consulting. Second, prepare T-Accounts (ledger) for the same transactions. Third, prepare a trail balance based on the same transactions.
June 1 Mater, the owner, invested $50,000 cash and $50,000 in office equipment.
4 The company paid $20,000 cash for an insurance policy covering the next 24 months
15 The company purchased office supplies for $800 cash
20 The company received $30,000 in consulting fees earned.
30 The company paid $1,000 for June utilities.
General Journal Entries:
June 1
4
15
20
30
T-Accounts:
Cash Office Equipment Utilities
Consulting Fees Insurance Expense Office Supplies
Owners, Capital
Trail Balance:
Account Name: Debit Credit
Cash
Office Equipment
Utilities
Consulting Fees
Insurance Expense
Office Supplies
Owners, Capital
Totals $130,000 $130,000
The Adjusted Trial Balance for Company follows. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period.
Balance Sheet &
Adjusted Income Statement of
Trail Balance Statement Owner’s Equity
No. Account DR CR DR CR DR CR
101 Cash $10,000
106 Accounts Receivable $250,000
107 Inventory $50,000
153 Trucks $5,000
154 Accum Depr – Trucks $10,000
183 Land $40,000
201 Accounts Payable $15,000
209 Salaries Payable $5,000
233 Unearned Fees $5,000
301 Owner, Capital $100,000
302 Owner, Withdrawals $15,000
401 Plumbing Fees Earned $305,000
611 Depr Expense – Trucks $10,000
622 Salaries Expense $40,000
640 Rent Expense $15,000
677 Misc. Expense $5,000
Totals $440,000 $440,000
Net Income
Totals
Using your accounting knowledge, fill in the following separate income statements a through e. Identify any negative amount by putting it in parentheses.
Statements: a b c d e
Sales $100,000 $805,000 $450,000 $100,000
Cost of goods sold
Merchandise inventory (beginning) $10,000 $0 $100 $80,000 $25,000
Total Cost of merchandise purchases $30,000 $10,000
Merchandise inventory (ending) $10,000 ($10) ($50,000)
Cost of goods sold $30,000 $290,000 $90 $25,000
Gross Profit $320,000
Expenses $10,000 $150,000 $1,000 $400,000 $50,000
Net Income (loss) $365,000 $910 ($80,000)
On May 5, Hill Company sold 1,500 of the units for $20 per unit to Bunker Co. Terms of the sale were 2/10 n/60. Prepare entries for Hill Company to record the May 5 sale and each of the following separate transactions A through C using a perpetual inventory system. Please note that the inventory cost or value is $10 per unit.
A. On May 7, Bunker returns 200 units because they did not fit the customer’s needs Hill Company restores the units to its inventory.
B. On May 8, Bunker discovers 300 units are damaged but are still of some use and, therefore, keeps the units. Hill Company sends Bunker a credit memorandum for $1,000 to compensate for the damage.
C. On May 15, Bunker discovers that 100 units are the wrong color. Bunker keeps 60 of these units because Hill Company sends a $200 credit memorandum to compensate. Bunker returns the remaining 40 units to Hill Company. Hill Company restores the 40 returned units to its inventory.
Journal Entries:
May 5
Notes-
5
Notes-
May 7
Notes-
7
Notes-
May 8
Notes-
May 15
Notes-
15
Notes-
Sheet2
The following unadjusted trial balance contains the accounts and balances of Company as of December 31, 2015, its first year of operations. Use the following information about the company’s adjustments to complete a 10-column work sheet
a. Unrecorded depreciation on the trucks at the end of the year is $60,000
b. The total amount of accrued interest expense at year-end is $9,000
c. The cost of unused office supplies still available at the year-end is $2,000
Balance Sheet &
Unadjusted Adjusted Income Statement of
Trail Balance Adjustments Trail Balance Statement Owner’s Equity
No. Account DR CR DR CR DR CR DR CR DR CR
100 Cash $30,000
101 Accounts Receivable $10,000
102 Office Supplies $5,000
103 Trucks $250,000
104 Accum Depr – Trucks $50,000
105 Land $100,000
201 Accounts Payable $25,000
202 Interest Payable $5,000
203 Long-term Notes Payable $55,000
301 Owner, Capital $170,000
401 Owner, Withdrawals $50,000
501 Delivery Fees Earned $265,000
601 Depr Expense – Trucks $50,000
602 Salaries Expense $50,000
603 Office Supplies Expense $10,000
604 Interest Expense $5,000
605 Repairs Expense $10,000
Totals $570,000 $570,000
Net Income
Totals

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WEEK 7: ACCOUNTING HOMEWORK

SEE ATTACHMENT

Problem 20.13 (Page 646) . Answer requirements a–d

MUST PROVIDE AT LEAST ONE PARAGRAPH PER EACH REQUIREMENT

attachment
WEEK7PROBLEM20.13.PNG

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