代写BUSINESS 114 Assignment 1代写Web开发

日期：2024-08-22 06:26

BUSINESS 114

Assignment 1

Due: Friday 22 March 4pm (NZT)

Assignment 1 will be marked out of 40 marks and is worth 10% of your final grade.

Overall Presentation

Submission: Type your answers into the Answer booklet and submit your assignment by 4pm on Friday 22 March 2024 via Canvas. Please keep a copy of your assignment in case there are technical issues with your submission.

A WORD document or pdf file of your assignment must be submitted on Canvas. Please follow the instructions below to submit your assignment.

1.     Save your assignment as a WORD document or pdf file.

2. Rename your assignment file name to your last name, followed by a comma and your first name. For example: Bloggs, Joe – A1. (The last name is Bloggs; A1 is Assignment 01).

3.     You can upload the file on Canvas by going to Assignments, then click on Assignment 01. You will see the Submit Assignment button on the right-hand side of the webpage. A message box will show up, and you need to click on the Choose File button to locate your assignment file, which you had renamed in the above steps, and click ok. The last step will be clicking the Submit Assignment button in the new message box to submit your file.

Note:  If you want to replace the existing file you can simply repeat the step 3 above. You can do that any time before the due date.

Answer Booklet: Answers must be typed into the Answer Booklet using Calibri font style of at least size 10. This provides practice for answering in the exam booklets. If calculations or tables are required for an answer, they should be typed, set out neatly and labelled clearly in the Answer Booklet in the space provided. Bullet point answers are acceptable only if the whole sentence makes sense. The size of each box to answer each question is intended to be enough to answer the question, however, boxes can be expanded if necessary.

Disciplinary knowledge: The purpose of this assignment is to be able to demonstrate an understanding of the material covered in Modules 1 to 3 and apply appropriate methods to solve problems and explain the impact of events on business activity.

Solution seeking: For any calculation type questions, you should apply appropriate problem- solving processes systematically. Show all workings, no matter how trivial as  marks are awarded for partial work. This is good practice for the exam.

Written Communication: A high standard of written expression and presentation is expected of your

assignment. Correct spelling and grammar are essential. Discussions should be concise, structured

in a logical order, and relevant to the question. Consider using the resources of the Learning Hub

for extra support. https://www.learninghub.ac.nz/writing/paraphrasing-summarising-and- techniques/

Referencing: APA referencing is to be used where necessary. You  DO NOT need to reference the assignment question or references provided in the question. However, you DO need to reference any text if you have QUOTED or PARAPHRASED it. Always answer the questions in your own words. (See the library course page for details on how to use APA referencing).

Refer toReferenCite - Quick©ite - APA 7th (auckland.ac.nz)

If you feel you need to provide references – space is provided for your references to all the questions at the end of the answer book – this space can be expanded.

Questions 40 marks

1.   Budgeting and Professional Emails: 21 marks

The accountant for Baker's Delight Bakery is preparing the budgets for three products for the first quarter of 2024. This is the information that has been collected to assist with drawing up the budgets:

The bakery expects to sell the following in the first quarter of 2024:

Product	Budgeted Selling Price per Unit	January	February	March
Multigrain Bread	$6	1090	1000	1050
Blueberry Muffins	$3	500	550	500
Cinnamon Rolls	$5	650	680	720

The bakery also anticipates purchasing the following inventory in the first quarter of 2024:

Product	Budgeted Purchase Price per Unit	January	February	March
Multigrain Bread	$3	750	800	900
Blueberry Muffins	$2	600	650	700
Cinnamon Rolls	$4	400	450	500

Additional Information

•     The bakery will start offering credit sales in the first quarter, expecting 70% of sales revenue

from cash sales. For credit sales, 50% is anticipated in the sales month, and 50% in the following month.

•     All purchases are paid in the following month of the purchase. December 2023 purchases amounted to $5,500.

•     An annual insurance premium of $2,500 is due and paid for in February.

•     The bakery expects the following monthly expenses, payable in the month they occur:

Salary expense	$3,000 per month
Shop rental expense	$1,000 per month
Other expenses (utilities, phone, internet, etc.)	$300 per month

Required:

(a)        Prepare a sales budget for Baker's Delight Bakery for the first quarter of 2024.   (5 marks)

(b)        Prepare an inventory purchases budget for the first quarter of2024.  (3 marks)

(c)         Prepare an Other expenses budget for general expenses for the first quarter of2024.  (2 marks)

(d)        Prepare a cash budget for the first quarter of 2024, assuming that at the beginning of January 2024, the business has a cash balance of $4,000.   (4 marks)

(e)        The accountant is responsible for providing George Watson, the owner, with a quarterly update on the entity’s cash position and methods to improve the monthly cash balance.   (7 marks)

Using the results of the calculations in Part (d) and the email template provided below, you are required to write a professional email on behalf of the accountant to the owner.

The email should be no more than 300 words and include the following details:

1)   An explanation of the entity’s cash situation in the first quarter of 2024;

2)   Two possible reasons that led to the current cash situation; and

3)  Two suggestions to improve the cash balance for the entity in the future.

The email address isgeorgew@bakdelbakery.co.nz.

To assist you with this task, you will use the AI website ChatGPT

(ChatGPT: Optimizing Language Models for Dialogue (openai.com)) in the following way:

(i)         Generate three different versions of the professional email and paste them in the

booklet with the reference: “Generated by ChatGPT” Version 1 etc.

(ii)        Select the most effective parts from the three versions created by ChatGPT to craft a final, polished version of the professional email in your own words. This version must follow the PAPER Model as taught in Module 1 on Canvas.

The rubric below outlines the requirements of the tasks and assessment criteria for Part (e):

	Proficient	Satisfactory	Unsatisfactory
Email Content. (3 marks)	The current cash situation of the entity and suggestions to improve the cash balance are expressed in a clear and focused fashion. The explanation is convincing.	The current cash situation of the entity and suggestions to improve the cash balance are expressed clearly but focus and persuasion could be better.	The email does not communicate the current cash situation of the entity and suggestions to improve the cash balance in a clear and focused fashion.
Use of ChatGPT. (1 mark)	ChatGPT has been used effectively, with accountability and an awareness of the strengths and weakness of the chatbot. A professional email has been crafted with three versions of ChatGPT included.	ChatGPT has been used correctly, with some accountability and awareness of the strengths and weakness of the chatbot. A professional email has been produced with two or more versions of ChatGPT included.	ChatGPT has not been used correctly and lacks accountability and awareness of the strengths and weakness of the chatbot. A weak professional email has been produced with one or no versions of ChatGPT included.

(7 marks)

2.   Time value of money: 19 marks

Hannah and Alex Thompson are preparing to purchase their first house and have managed to save some money. However, although they have these funds, they still need to come up with more money to make up 15% of the deposit, which amounts to $25,000. After much discussion with their family, they have come up with these two possible options:

Option 1 - Borrow money from Hannah’s uncle, Robert.

Option 2 - Alex’s Mom, Sarah, will take out a loan on their behalf.

Ignore any transaction costs and tax involved in buying a house.

Required:

(a) Option  1 –  Robert (Hannah’s uncle): Using the relevant interest factor table, calculate the following (round your answers to two decimal places):

(i)   Hannah’s uncle, Robert, has offered to lend them the $25,000 and he is happy for the loan and interest to be repaid 8 years later. If Hannah and Alex borrow the money from Robert, they will have to repay the amount of $36,939 (which includes the principal amount of the loan and the interest). What rate of interest, compounded annually, would Hannah and Alex be paying on the 8-year loan? How much interest would they have paid on the loan?   (3 marks)

(ii)  If Robert asks Hannah and Alex to repay the loan as an annual equal amount at the end of each year over the 8-year period based on the annual rate of interest calculated from a(i), how much would the annual repayment be? What is the total cash repayment for the loan over the period? How much interest would they have paid on the loan?   (4 marks)

(b) Option 2 – Sarah (Alex’s Mom). Using the relevant interest factor table, calculate the following (round your answers to two decimal places):

(i)   Sarah is willing to borrow the $25,000 from her bank (East Coast Bank) on their behalf with an interest rate of 12% p.a. compounding quarterly. The loan and the interest are to be repaid 5 years later. If Sarah borrows the money from the bank, how much will she pay the bank in 5 years’ time?   (2 marks)

(ii)  Sarah decided to find out from another bank (Southwest Bank) under what conditions they were willing to lend the money to her. If she borrowed $25,000, they would charge an interest rate of 2% p.a. compounded semi-annually. The loan and interest will have to be repaid to the  bank over the 5 years with equal  payments  needing to  be  made  at the beginning of each period. If Sarah borrows the money from this bank, what will be the semi-annual payments that she will make? What is the total cash repayment for the loan over the period? How much interest would she have paid on the loan?   (4 marks)

(c)  Based on your answers to the above questions for options 1 and 2, make a recommendation to Hannah and Alex as to which option they should choose and explain why?   (2 marks, max 80 words)

(d) What factors should Hannah and Alex consider before making a decision to take out a mortgage to buy their first home? Discuss and ensure that your answer relates to the current New Zealand environment.  (4 marks, max 100 words)