Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Accounting Basics Expert

Assignment

Exotic Cars Inc. (ECI) is a company specializing in sales and maintenance of the exotic (hence the name) cars. The cars that ECI sells come from multiple sources: some are shipped directly from the factories, other purchased from the private collectors, and yet some other cars are traded-in by the customers of ECI.ECI also provides a regular maintenance service of the exotic cars, such as engine tune-up, tire rotation, oil change, etc. You do not have to buy a car from ECI to use its maintenance service; consequently, some owners of the exotic cars purchased elsewhere also use ECI maintenance service.

ECI appreciates continuing business of its patrons; consequently, the company wants to maintain as much information about each valuable customer as it possibly can. As a result, ECI diligently records how much money each customer spends on buying cars (more than a half have purchased two cars and about third bought three or more), on maintenance service (how much customer spends overall, and per car), and whether or not a customer ever traded a car in.
Similarly, ECI maintains detailed data on all the dealers, companies, manufacturers, and other sources that provide the company with needed services, parts, or cars. ECI is not a "backward" organization, but things have been done there pretty much the same way since ECI was founded in 1966. Owners of ECI feel like it is about time not just to move forward, but "leapfrog" the competition. You have been hired by ECI to find a way of increasing the level of performance of ECI.

Organizational Structure of ECI

There are three operational locations of ECI; one in Washington, DC, second in Richmond, VA, and third in Virginia Beach, VA. Corporate headquarters located in Charlottesville, VA.
Every location has a general manager, which is responsible for authorizing/rejecting whatever requests area managers of that location may have. Normally, area managers only handle the issue relevant to their area, for example, sales/trade-in area has its own manager, body shop/repair shop has its own, and service area has its own area manager. Every area manager is authorized to make financial decisions up to $10,000.00. If the amount exceeds the limit of an area manager, then general manager of that location must authorize it- the general manager has discretion of making financial decisions of up to $100,000.00. If the amount exceeds this number, a request is send to the headquarters, where it is approved or rejected by a VP of the area (e.g., service, sales, and repair); a VP of the area is authorized to make a financial decision of up to $250,000.00. If the request exceeds this amount, it must be addressed by the CEO of ECI.

Project Description

Your goal is to develop a database that shall allow ECI to keep track of its business and provide the management with the following information regarding the performance of the business:
HR Management
> Complete information about ECI employees, especially salesmen and technicians
Inventory Management
> Complete information on the number and types of the cars currently kept in stock
> Complete information on the number and types of the cars obtained from each
source (factory, private collector, trade-in, etc.)
Maintenance Service Management
> Complete information on the number and types of the cars that were serviced.
> Complete information on maintenance record of each serviced car (car information, type of problem, owner, mechanic who performed the maintenance, and cost of maintenance)
Customer Service Management
> Complete information on every customer including information regarding their:
¦ Total spending on cars
¦ Total spending on service maintenance

Accounting

> Complete information on spending of every customer
> Complete information regarding what was paid to each vendor
> Complete information regarding what was received by ECI from the sales of cars
> Complete information regarding what was received by ECI from the maintenance service

Project Submission

You are going to submit the Course Project over the following sequence of steps (a single deliverable per step):
1. Course Project: ERD
2. Course Project: Normalized Data Model
3. Course Project: SQL code used to create your DB Schema
4. Course Project: Contents of the DB Tables
5. Course Project: Forms
6. Course Project: Reports

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M91589773
  • Price:- $30

Priced at Now at $30, Verified Solution

Have any Question?


Related Questions in Accounting Basics

Question - pharoah company traded a used welding machine

Question - Pharoah Company traded a used welding machine (cost $10,260, accumulated depreciation $3,420) for office equipment with an estimated fair value of $5,700. Pharoah also paid $3,420 cash in the transaction. Prep ...

Question - for this assessment you will need to complete a

Question - For this assessment, you will need to complete a Form 1040, Form 4562, Schedule C, and Schedule SE and submit them as file uploads. The PDF forms are available here and in the assessment instructions. Jayne Sm ...

Question - maxwell corporation has income per books before

Question - Maxwell Corporation has income per books before tax of $400,000. Included in the income per books is $8,000 interest income from tax-exempt municipal bonds. In computing income per books, Maxwell deducted $22, ...

Question - bridgeport company reports the following

Question - Bridgeport Company reports the following financial information before adjustments. Dr. Cr. Accounts Receivable $169,500 Allowance for Doubtful Accounts $2,060 Sales Revenue (all on credit) 841,800 Sales Return ...

Question - sanchez company completes these transactions and

Question - Sanchez Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30). Mar. 1 Purchased $45,300 of merchandise from Lee Industries, invoice da ...

Question - concord could borrow 107700 from its bank to

Question - Concord could borrow $107,700 from its bank to finance the purchase at an annual rate of 10%. Should Concord borrow from the bank or use the manufacturer's payment plan to pay for the equipment?

Question - state your accounting method of choice and

Question - State your accounting method of choice and describe several types of business transactions you expect to incur. Explain how the transactions will impact your financial statements. How will the transactions inf ...

Question - the records of riverbeds boutique report the

Question - The records of Riverbed's Boutique report the following data for the month of April. Sales revenue$100,100 Purchases (at cost) $47,400 Sales returns 1,900 Purchases (at sales price) 95,300 Markups 9,500 Purcha ...

Question - natalie is busy establishing both divisions of

Question - Natalie is busy establishing both divisions of her business (cookie classes and mixer sales) and completing her business degree. Her goals for the next 11 months are to sell one mixer per month and to give two ...

Question - computing a basket purchase allocation and

Question - Computing a Basket Purchase Allocation, and Recording Depreciation under Three Alternative Methods At the beginning of the year, Wong's Martial Arts Centre bought three used fitness machines from Hangar Inc. f ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As