[Region1] and [region2] countries/regions were the main cultural bridges of Middle Eastern (Southwest Asian) foods into Europe.

Choose two foods that were either discovered or largely harvested/grown in the “New World,” one from module 1-4 and one from the student research projects (the food cannot be from your own research project).  Where are these foods from? Who (which cultural group) brought them to the Mediterranean?

What are the “Three Sisters?” Which foods make up this group and why are they grouped together?

Ananda Inc.’s Financial statements for 2019 are provided below:   Balance Sheet:       2019 2018 Cash  33 ,000  18,000 Accounts receivable  26,000  28,000 Inventory  39,000 36,000 Equipment – net book value 80,000 72,000 Total Assets 178,000 154,000 Accounts Payable 27,000 21,000 Wages payable 1,500 1,000 Notes Payable, Long term 42,000 48,000 Common Stock 78,500 60,000 Retained Earnings 29,000 24,000 Liabilities and Equity 178,000 154,000   Details of Equipment are:       2019                2018 Equipment Cost                      104,000           92,000 (Accumulated depreciation)   (24,000)          (20,000)   Income Statement for 2019: Sales                           80,000 Cost of Goods Sold    (43,000) Expenses                     (30,000) Net Income                 7,000   Expenses include: depreciation 4,000; wages 12,000; taxes 2,000; other expenses 12,000. Prepare a properly classified Cash flow statement under the indirect method.                             

Z Corp reported Cost of Goods Sold of $6,400,000 for 2019.  Its Balance Sheet reflected the following amounts:     Balance Sheet:       2019 2018 Accounts receivable $800,000 $600,000 Inventory 520,000 480,000 Accounts payable 340,000 310,000   Compute Z’s cash paid to suppliers for inventory for 2019.    (Note: please do not include commas or dollar signs in your response) 

The CLZ Company has provided the following information:  The accounts receivable balance at the beginning of the year was $150,000. The accounts receivable balance at the end of the year was $210,000. Accounts receivable written-off as uncollectible during the year amounted to $11,500. The allowance for doubtful accounts balance at the beginning of the year was $14,000. The allowance for doubtful accounts balance at the end of the year after the recording of bad debt expense was $12,900. Credit sales during the year totaled $900,000.   How much was CLZ Company’s bad debt expense?     (Note: please do not include commas or dollar signs in your response)     

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This is not a question but information that may be useful for you in the exam A/R: recognizing bad debt expense decreases income and assets. Write offs affect only Gross A/R & allowance for bad debts. Allowance for bad debts increases each period by bad debt expense and decreases by write offs. Inventory Equations: LIFO Reserve = Inventory FIFO – Inventory LIFO; Change in Reserve = COGS LIFO – COGS FIFO. Reserve is a balance sheet concept, change in reserve is I/S concept. Reserve and change in reserve reflect input price changes and tax savings or losses. Depreciation: SL formula = (Cost – salvage value) / life; DDB formula = beginning book value of asset X double the SL rate; SYD formula = (Cost – Salvage value)/ Total units X actual units used Impairment: 2 step process: if BV > Future cash flows, then yes. Value of impairment is difference between Fair value and book value. Goodwill: Excess of purchase price over fair value of net assets Treasury stock: shown as subtraction from equity; reduces #shares; any gains/losses on reissue are taken to additional paid in capital Stock dividends: transfer from retained earnings to common stock; if small dividend at market value Stock splits: reduce par value and increase #shares Cash flow – indirect method equation: Net Income + Depreciation expense + change in current liabilities – change in current assets – change in non current assets (original cost) + change in non current liabilities + change in common stock – dividends Cash collections from customers: calculate from A/R; Cash payments from suppliers: calculate from A/P and inventories

A national food distributor has offered to purchase P Corp. P Corp has $0.9 million of net assets at book value, but those net assets have a fair value of $1.2 million. If the distributor offers to buy P Corp. for $3.5 million, how much will be recorded as goodwill based on the offered acquisition price? (Note: please do not include commas or dollar signs in your response) 

Select two cultural groups that we have discussed in class.  Describe the geographic area that these groups inhabited (you may use modern countries as references) and the relative time frame that these groups ruled/existed (you need not include exact years: centuries or named time periods are fine).  What are two single foods (not recipes/dishes) that each cultural group associated with and where do these foods come from?  (Your answer therefore should include four foods total.)