Canada’s Largest Banks Case Study
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Canada’s Largest Banks Case Study
You have started your second year of the Become at York University and decided to start your own business with your passion: be a DJ at parties. A family friend that works as a lending officer in one of Canada’s largest banks explained to you how the business plan has to be presented so you can get some financing.
-On January 1st you set up a company-Music on Wheels Ltd with a capital of 50,000 shares at $1 each. A lawyer produced all the needed paperwork. On the same day, you submitted the business plan to the bank and were successfully granted a start-up loan of $23,750, you deposited $14,250 of your personal savings and start-up loan of $23,750 in the newly opened chaining account of your company. On January 1st, you transfer ownership of your van to the company. The van has a fair market value of $4,750 and is estimated to last for 50 months and then be discarded.
-On January 1st you purchase music equipment for $17,100 and $570 worth of music files from the same shop. Half was paid in cash, and the remaining half is paid on Feb 15th. The music equipment will be used for 60 months with no resale value at the end, while the music files are expensed immediately.
-On January 1st you sign the insurance contract for the van and the music equipment. The insurance premium for the van is $2,280 per year and for the equipment is $1,140 per year with payment at a later date.
-On January 1st you rented a warehouse to store musical equipment for one year, starting on that day, and paid $5,700 in advance.
-Performed service as the DJ of a fundraising event of a large international charity on Jan 10th. Got a cheque of $1,900 for your service and $2,850 on account to be collected on Jan 31st.
-On January 14th, paid a local radio 90 days (16 days in January, 28 days in February, 31 days in March, and 15 days in April) of advertising for $855 starting on January 16th. And on the same day, paid $855 of insurance for the months from January to March (whole month coverage for January, February, and March).
-On January 17th, provided the music for three small events. One promised to pay the $760 on Feb 7th, the other will pay the $760 by the end of January, while the third event of $950 will be paid on March 2nd.
-On January 19th, hired a car painter to freshen up the look of the van (this will not change the value or the useful life of the van). The work is completed by Jan 21st. Paid $190 on Jan 19th, paid $475 on Feb 19th, and the rest $380 on March 19th.
-On January 20th, collected and paid for 800 pieces of nicely designed brochures. Total Cost $760. Distributed 150 brochures in January, 250 brochures in February, and 300 brochures in March.
-On January 23rd, two events were served. Provided services in a morning event at a local church and collected $570 for your service. And one big event was serviced in the afternoon, the bill of $3,800 was paid 50% before the beginning of the event and the rest will be paid in 30 days.
-On January 28th, received the bill from the lawyer that helped you to set up the company for $1,425 payable by Feb 15th. (Hint: treat this as an asset). You have paid the bill on time.
-On January 29th, received a deposit of $1,710 for servicing a fundraising event in February, and received a deposit of $2,850 for servicing a wedding in March.
-On January 31st, collect $2,850 from the event on January 10th and got a phone call indicating the $760 owed for the January 17thevent will be paid sometime in February.
-Bank changes the monthly service fee of $95, and in addition, the bank charges 6% per year for interest on a start-up loan, both fees will be automatically deducted from the chaining account at the end of each month.
-Declared dividends to yourself of $100 per 1,000 shares on January 31st, all dividends declared in the current month will be paid in the next month.
Required:
Prepare the statement of proof of cash by January 31st.
Prepare the Income Statement (accrual accounting) for the Month of January.
Prepare the Balance Sheet (accrual accounting) as of January 31st
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
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