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1. Used
Computer System Sales, Inc. (UCSSI), which began its operations in July of 2007,
specialized in the purchase, sale, distribution, upgrade, and repair of new, as
well as refurbished, equipment for the Sun Microsystems/Oracle America market.
2. A
fire occurred at UCSSI’s place of business beginning late in the evening of
September 30, 2009 and continuing into the morning hours of October 1, 2009.
3. The
fire destroyed UCSSI’s entire inventory.
4. The
landlord informed UCSSI that the existing facility would need to be extensively
renovated and would not be available for at least a year.
5. UCSSI
quickly found a new and larger facility and moved to its new location on
October 9, 2009.
6. The
adjuster indicates that UCSSI’s inventory destroyed in the fire was worth approximately
$80,000.
7. John
and James, two brothers, are the two principals at USCCI. John is responsible
for acquiring large lots of used computer equipment from firms that go out of
business. James is responsible for taking the used equipment apart and building
computer systems using refurbished parts. Ben is a full-time employee
responsible for sales. In addition to a small base salary, he earns a 2%
commission.
8. Around
June of 2009, John and James came up with a new and different business idea and
decided to set up a separate business called Creative Software Solutions, Inc.
Since then, they have been spending more and more time on getting the new
business up and running.
9. UCSSI’s
sales records show that prior to the fire, it had one large customer – ABC,
Inc. From inception through September 30, 2009, ABC accounted for over 25% of
UCSSI’s sales.
10. ABC
went out of business on June 30, 2010.
11. UCSSI
received insurance proceeds totaling $175,974 in 2010 for lost of various
business properties such as equipment, furniture, and computers. UCSSI
mistakenly reported the proceeds as sales receipts in its 2010 tax return.
12. UCSSI
has an insurance policy that would pay for up to 1 year’s worth of lost profits
as a result of the fire.
13. UCSSI
has engaged you to prepare a lost profit analysis to support its insurance
claim.
Timeline
of Events
9/30/09 – Fire at UCSSI’s office and warehouse,
destroyed all inventory, facility no longer usable
10/01/09 – 1st
purchases of inventory
10/07/09 – New lease
signed, new office space is 25% larger
10/10/09 – Vendor
invoice showing new location as the “ship to” address
10/14/09 – 1st sale
after the fire
10/22/09 – 1st sales quote after the fire
Scoring
Rubric
Define
and explain the damage period
|
0.50
|
Calculate
lost sales
|
0.75
|
Calculate
cost of goods sold related to the lost sales
|
0.75
|
Calculate
avoided operating expenses, if any
|
0.75
|
Summarize
your analysis
|
0.25
|
Total
|
3.00
|
Questions regarding the assignment:
Contact Sacha Zadmehran at SUPPORT@ASSIGNMNENTCONSULTANCY.COM.
Note: Please
send one document that is formatted for printing. You are welcome to use word or excel or a
combination thereof in performing your analysis, but turn in only one file (i.e.
combine your word and excel into a single pdf file). Any exhibits must be of presentation quality,
meaning describe your calculations adequately.
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