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Kentuckyville Slugger (KS) is a manufacturer of baseball and softball accessories.

Kentuckyville Slugger

Kentuckyville Slugger (KS) is a manufacturer of baseball and softball accessories. The company was established by Sammy Sousa in 1913, and produced only wooden baseball bats. KS has evolved over the past hundred years to offer a wide variety of products, including aluminum bats, batting gloves, cleats, and fielding gloves. KS’s products are sold in Canada, the United States, and Mexico. Since inception, the company has continued to be a family-run, closely held business with its manufacturing plant located in Red Deer, Alberta.

Recently, the company has been finding it difficult to compete in the global marketplace due to the fluctuating Canadian dollar, the lower wage costs in Asia, and a general decrease in consumer discretionary spending following the global credit crisis. The recent competitive pressures have made it difficult for KS to reinvest in its capital assets in order to become more efficient.

The current CEO, Michael Sousa, does not want to relocate as the company is a long-standing member of the Red Deer community, providing many citizens with well-paying jobs. However, the competitive landscape is making it difficult to continue the status quo.

Michael has recently come across a new government grant program that is part of an initiative to improve the productivity of Canadian companies and promote employment. The program provides eligible manufacturing companies with the opportunity to receive a forgivable loan to upgrade their capital assets in the interest of efficiency. The following criteria are used to assess eligibility:

• The grant must be used to invest in capital assets that will improve productivity, as measured by output per employee hour.

• The grant must promote employment in the manufacturing sector in Canada.

• The company must display a financial need for the application.

If obtained, the grant would allow KS to continue to operate in Red Deer with the same workforce and increase its output by at least 20%. Audited financial statements must be included with the grant application.

Brandon Sousa, CPA, is the controller of KS. Recently, Brandon has begun preparing the December 31, 2020 year-end financial statements to provide to the external auditors. Brandon recently met with Michael in order to discuss certain transactions that have yet to be recorded in the books of account. Michael would like Brandon to prepare a report that discusses the appropriate accounting treatment of these transactions. The notes from the meeting can be found in Exhibit I.

Exhibit I

Notes from Meeting with Michael

• KS entered into a sales agreement with the Canadian Hardball Association (CHA) to provide 5,000 hardball bats (at a price of $50 per bat) for an upcoming international baseball tournament that will be held in Canada. The bats were shipped to the CHA during the month of November 2020. Per the agreement, the CHA has until February 2021 to inspect the bats in order to determine if they meet international safety and performance standards.

• KS has manufactured bats for similar tournaments in the past and has never had an issue meeting the safety and performance standards. Michael suggests not recording any revenue in the current year because the CHA has the right to accept or reject the quality of the bat.

• KS delivered 2,500 soft-spike cleats to The Shoe Store for $100,000 in December. The cleats were sold during the holiday season. The cleats can be returned to KS within one year of the purchase date in the case of a manufacturer defect. Past history suggests that 5% of the cleats are returned within the one-year return period. Michael suggests that the revenue should be recorded once the right of return period lapses.

• During the year, KS entered into a sales agreement with SportStore (SS) whereby KS designed and manufactured an aluminum bat that is to be sold exclusively through SS’s retail stores across Canada. The exclusive agreement is for a two-year period, at which point the bat can be sold through other retailers. During the agreement period, SS must purchase a minimum of 100,000 bats from KS at a price of $55 per bat. During the year, SS purchased 45,000 bats.

• KS incurred $155,000 in design and development costs during the year in developing the bat. KS incurs $25 in costs to manufacture the bat. Michael suggests that the $155,000 design costs be expensed in the current year.

• KS sold on credit 2,500 KSX baseball gloves for $50,000 to Q-Mart in November 2020. Q-Mart is a large public company, with retail stores across Canada and the United States. Around year end, analysts have begun reporting that Q-Mart is having serious financial difficulties and may file for bankruptcy if its lenders do not restructure its debt. Q-Mart’s share price has plummeted in recent weeks. Michael suggests writing off the $50,000 account receivable.

• During the year, KS acquired a new storage warehouse in Red Deer. The warehouse was purchased for $250,000. KS then incurred $10,000 in costs to install an HVAC system and $7,500 to replace the roof shingles. Michael suggests expensing the additional costs ($17,500) as repairs and maintenance.

Required

Assume the role of Brandon and prepare the report. The financial statements are prepared in accordance with ASPE

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Importance of Baseball to New York

The city of New York had 3 baseball teams in the 1950’s – until some major changes happened. In at least 500 words, discuss the importance of baseball to New York. Describe some of the major stars in New York in the 1950’s. Furthermore, discuss the reasons why two of the teams left, where they went and the impact of the changes. How was baseball a reflection of the societal changes in the 1950’s and 1960’s? Per Grantham Guidelines, your assignment must be submitted properly in APA format and in a word document. Be sure you cite all of your sources, and you must show direct evidence of integrating your textbook at least twice within your work.

Textbook: Baseball An Illustrated History Geoffrey C. Ward and Ken Burns with A New Chapter by Kevin Baker

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Importance of Baseball to New York

The 1950s marked the age of most defined personalities and had a tremendous transformation in both social and cultural setups. Baseball had just gained moment and was thriving to new height in terms of fans and support.  The attention given to baseball at this age was enormous with children, the youth and the aged actively involved. The impact was so big and for the New York it was an opportunity to make and generate more revenue. The social aspect also took a new dimension. The baseball incorporated the people from different backgrounds and adopted coloured people. It is said that in 1947 baseball was integrated which is not really the case. Only three teams in the year had fielded the black players, the Dodgers, the Indians and the Browns. The most historic moment for baseball in the New York was marked by the inclusion of the blacks in the 50s and this was real integration. Hence baseball had played a big role of unity and desegregation. Baseball would have easily been a pale and distinctly an anemic shadow of itself had it not included black players, Will (1999). The fifties had led to a vision defect known as the New York-centrism that pictured it as a central nerve of the world in the richness of culture and more so baseball (Golenbock, 2010).

The 1950 was made even more startling by players like Jim Konstanty. Konstanty was the first to have won an MVP award as a relief pitcher. Konstanty being at thirty –three and peering into the wire rimmed glasses to have a concise view of the plate won 16, lost 7 and got an ERA of 2.66. These were nice figures. He had pitched 152 innings and made appearance in 74 games. This was the age of the rise of the relief pitcher and for the Phillies to have a pennant was not a common occurrence hand could take time before it recurred even after 30 years.

Only two years after, a rookie aged twenty-eight years, Hoyt Wilhelm, would secure a chance in the Giants in a career twenty-one years long.  He moved through eight other teams and was named in the Hall of Fame. Wilhelm was the first one to ever make it to the Hall of Fame as a relief pitcher. Many other pitches had overdone…………………………………………………………………………………………………………………………………………………………………………………………………………………………………. Importance of Baseball to New York………………………………………………………………………………………………………………………………………………………………………………………………………………………………….

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baseball is America’s past-time

In a minimum of 1000 words, describe why baseball is America’s past-time. As part of your paper, you can share some of your memories of baseball. How did baseball mirror society (good and bad?) as a reflection of American society? Per Grantham Guidelines, your assignment must be submitted properly in APA format and in a word document. Be sure you cite all of your sources, and you must show direct evidence of integrating your textbook once per chapter as part of your final exam. Your paper should include at least one resource from baseball is America’s past-time the library.

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Why Baseball is America’s Past Time

Baseball has a long history and is considered as the oldest game in America. The game originated in America in 1800s but still has never caught international attention but still remains a notable game in America. In early 1800s the game was locally plated but it was formalized in 1848 by Alexander Cartwright (Szymanski, 2015). When the game was formalized there was racial discrimination and the blacks could not play with the whites and thus was mainly a White’s game. Again at this time the game was just a preserve for the affluent in the society while the rest were not allowed to participate in the activities of the game. This was a disappointment to the Americans as it involved just a few individuals while the rest were locked out. However, the game’s discriminative policy for the poor was withdrawn after the end of World War I. This is after soldiers of the war returned; they had played the game in the boarders and thus encouraged all to be incorporated. This was a relieve to the American people as the game no longer cared about social classes. (Szymanski, 2005)

According to Andrew 2005, p.1, the game was first played by hitting the ball with a bat just as cricket is played. In 1876, National League was formed to incorporate the teams that were involved in the game. The NA still runs the game in USA to date. According to Swank (1992; p.160) something unusual happened when two teams decided to train and reserve players who would play for their teams alone. The idea was later applied by ……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………..

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