In this file ACC 300 Week 5 Individual Assignment - Chapter Six you will find overview of the following parts:
1. Assignments from the Readings. Prepare responses to the following assignments from the e-text, Fundamentals of Financial Accounting 1st ed., by Phillips, Libby, and Libby
a. Chapter 6: Questions 2 and 3
2. Summarize the primary purposes of an internal control system.
3. What are the three internal control objectives for financial reporting?
Business - Accounting
QRB 501 Week 2 Learning Team Case Studies - "Case 5 - 2 and Case 6 -2"
Week 2 Learning Team Case Studies
Complete the following case studies from Ch. 5 6 of Business Math:
Case Study 5-2, pp. 184-185
Case Study 6-2, pp. 216-217
Use the provided Microsoft Excel template for your answers.
Note . Show all work and calculations. (The use of Microsoft Excel software is required.)
1. Ziam wants to know how much his royalty will be for a song he has written. How will it be calculated? Write the steps or the formulas that will be used to calculate his royalty payment.
2. Ziam has written a popular song titled “Going There,” which has been recorded by a well-known performer. He recently received a royalty check for $7,000. If Ziam gets a 0.5 share of the royalties and the credit value is $3.50, what was the credit total that his song earned? Write out the problem in the form of an equation and solve it.
3. Ziam quickly published another song, “Take Me There,” that is played even more often than “Going There.” If his first song earns 4,000 credits and his second song earns 6,000 credits, what will the royalty payment be from the two songs if the credit value remains at $3.50?
4. Ziam is considering an offer to perform his own song...
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