Posted on

HRM 587 Managing Organizational Change Due Week 7 Part 5 Annotated Bibliography Answer

Part 5 – Annotated Bibliography (Due Week 7)

List of all of your references you used in the project to date (you should have at least 12 at this point) and create an annotated bibliography. Basically, for this assignment, you will use your reference list, in alphabetical order, and provide a 2-4 sentence summary (brief!!) of what that reference said. This is a summary style document! Your grade will be based on your ability to BRIEFLY summarize the important points in the document as well as the strength of your reference materials. (i.e. if you used mainly low-level reference documents like encyclopedias, online dictionaries, anonymous articles, etc. this will negatively impact your grade.)
A. Use of at least 12 references, properly annotated: 24 points (roughly 2 points each)
B. Strength of references overall: 6 points (roughly .5 points each.)
C. Use of one of the 5 Keller-approved citation methods

 

To get the answer for the above tutorial, please click on the below purchase link:

 

Posted on

ECON 213 Principles of Economics Pearl owns a company that produces Super Toys Answer

MEDGAR EVERS COLLEGE (CUNY)       
SCHOOL OF BUSINESS       
ECON 213 PRINCIPLES OF MICROECONOMICS       
WINTER 2010       
Labor Output Total Cost Marginal Average Total Revenue  
  (TC) Cost (MC) Cost P=125  
0 0 $3,000.00     $           –     
1 10 $4,250.00  $125.00  $425.00  $1,250.00   
2 25 $5,500.00  $83.33  $220.00  $3,125.00   
3 45 $6,750.00  $62.50  $150.00  $5,625.00   
4 70 $8,000.00  $50.00  $114.29  $8,750.00   
5 95 $9,250.00  $50.00  $97.37  $11,875.00   
6 115 $10,500.00  $62.50  $91.30  $14,375.00   
7 133 $11,750.00  $69.44  $88.35  $16,625.00   
8 149 $13,000.00  $78.13  $87.25  $18,625.00   
9 164 $14,250.00  $83.33  $86.89  $20,500.00   
10 174 $15,500.00  $125.00  $89.08  $21,750.00   
11 182 $16,750.00  $156.25  $92.03  $22,750.00   
12 188 $18,000.00  $208.33  $95.74  $23,500.00   
13 192 $19,250.00  $312.50  $100.26  $24,000.00   
       
Pearl owns a company that produces Super Toys.  The table above shows that       
Pearls’ Fixed Cost is $3000.00. Pearl pays $1,250 for each unit of labor. Marginal       
and Average Costs of production are show n in the table. If Pearl conducts       
business in a Perfectly Competitive Market where the price of each toy sold is       
$125.00:       
What is Pearl’s Marginal Revenue for each additional unit of Super Toy sold? 

 

To get the solution for the above tutorial, please click on the below purchase link:

Posted on

The transactions in this practice set were completed by Bath Designs Inc. during January, the first month of the company’s fiscal year Answer

The transactions in this practice set were completed by Bath Designs Inc. during January, the first month of the company’s fiscal year. The company designs and manufactures a limited variety of custom bathroom storage cabinets and sauna units, and it maintains a job-order cost system.
You have accepted a position with Bath Designs Inc. as assistant controller, and you will begin your duties on January 1 of the current year. In your review of the previous assistant controller’s records, you notice some jobs were incomplete as of December 31 of the previous year. These jobs are contained in the Job Cost Records. You plan to complete most of these jobs in January and to accept new jobs from builders and contractors. You are responsible for the daily accounting operations, preparation of interim financial statements, and end-of-month adjusting and closings entries.
Bath Designs Inc. manufactures all products in a single production department. An individual job-order cost sheet is maintained for each job. The job-order cost sheet contains accumulated costs for each job, including actual direct materials, actual direct labor, and applied factory overhead.
Gross pay for direct labor is recorded by a debit to Work in Process. Salaries for all other factory personnel are recorded by a debit to Factory Overhead. Salaries of non-factory personnel are recorded at the end of each month by a debit to the appropriate salary expense accounts. Deductions for FICA tax at 7.65% of gross pay (this includes the Medicare Tax deduction) and employees’ income tax at 18% of gross pay are recorded whenever gross pay is recorded. All wages are paid on the last day of the month. All employer payroll taxes are recorded at the end of the month. Payroll taxes related to factory personnel are debited to Factory Overhead. Payroll taxes related to all other company personnel are debited to Payroll Taxes Expense—General.
Bath Designs Inc. maintains two materials accounts, one for Direct Materials and one for Indirect Materials and Factory Supplies.
Factory overhead is applied to each job based on 125% of direct labor cost for that job. Bath Designs Inc. maintains only one factory overhead account. Remember that debits to Factory Overhead represent actual overhead and credits to Factory Overhead represent applied overhead. Since the difference between actual factory overhead and applied factory overhead is insignificant, the over-applied or under-applied balance is closed out to Cost of Goods Sold as an adjusting entry at the end of each month.
Bath Designs Inc. marks up all work by 35% of the job cost. Refer to the individual Job Cost Record for the total cost of the job and multiply the total cost by 135% to determine the selling price for each job.
Since Bath Designs Inc. sells to builders and contractors, sales are exempt from state sales tax. All sales are on account and are subject to terms of 1/10, net 30 days, FOB shipping point.
Accounts Payable is used solely for the purchase of direct materials and indirect materials and factory supplies. All vendors except full payment within 30 days. Operating expenses, with the exception of any accrued salaries, payroll taxes, property taxes, and income taxes, are paid when incurred.
All cash received is deposited in the bank, and all payments are made by check.
When dealing with an accounts receivable or accounts payable item, be sure to record the company name in the General Ledger and post to Accounts Receivable or Accounts Payable Ledger.
It is January 1, and you are ready to assume your new responsibilities.

General Instructions

1. Journalize the entries for the month of January in the General Journal. When using the Work in Process account, be sure to post to the appropriate Job Cost Record.
1. Post the General Journal entries to the General Ledger, the Accounts Payable Ledger, and the Accounts Receivable Ledger.
2. Prepare Schedules of Accounts Receivable and Accounts Payable.
3. Prepare the Trial Balance section of the work sheet.
4. Complete the work sheet using the adjusting entries data for the Adjustment columns.
5. Prepare the following statements:
A. Income Statement
B. Retained Earnings Statement
C. Balance Sheet
6. Journalize and post the adjusting entries
7. Journalize and post the closing entries. (It is acknowledged that this step is not performed until year end; this is for instructional purposes only.)
8. Prepare a Post-Closing Trial Balance.

NARRATIVE OF TRANSACTIONS

Note: Certain transactions, such as those dealing with payroll, require detailed computational work before preparing the journal entry. These transactions are explained initially in the narrative as they occur. Please refer to the original transaction when preparing a subsequent similar transaction.

Jan. 2 Paid Berkeley Road Properties $3,600 for January rent. Of this amount, 30% is for office
Facilities and 70% is for factory facilities.
Jan. 2 Paid Pierce Advertising Agency $490 for preparing advertisements in local newspapers.
Jan. 3 Paid Liberty Wood Products Company $8413.12 in payment of December 31 balance.
Jan. 3 Received a check from Kian Corporation for the amount due within the discount period.
Jan. 4 Paid State National Bank $25,681.41 for December payroll taxes payable as follows:
Employee’s Income Tax Payable, $15,812.27; FICA Tax Payable, $9143.73; Federal
Unemployment Tax, $319.19; State Unemployment Tax, $406.22.
Jan. 4 Paid $7,423.36 for Income Tax Payable.
Jan. 4 Paid Ohio Plastics Company $10,714.00 in payment of the December 31 balance.
Jan. 4 Applied $3,624.00 of direct materials (requisition No. 670) and $8,120 of direct labor (time ticket No. 129) to Job No. 403, which will complete the job. The FICA rate is 7.65% of gross pay and the employees’ income tax rate is 18% of gross pay. When preparing the entry for applying direct labor, debit Work in Process for the gross pay, and credit Employees’ Income Tax Payable and FICA Tax Payable for the appropriate amounts and Salaries Payable for net pay.
Remember that employees are paid on the last day of each month.
Applied factory overhead to Job No. 403 is based upon 125% of direct labor cost.
Transferred the completed job to the finished goods account.
Jan. 5 Sold and shipped Job No. 403 to the appropriate customer. All sales are on account 1/10, net 30 days, FOB shipping point. Bath Designs Inc. marks up all work by 40% of the job cost (NOTE IN THE ORIGINAL INSTRUCTION SHEET IT SAYS BY 35%, SO NOT SURE WHICH TO USE). Refer to the individual Job Order Cost Sheet for the total cost of the job and multiply the total cost by 140% to determine the selling price for each job.
Bath Designs, Inc. maintains a perpetual inventory system. Each time a sale is made to a customer, you must debit Cost of Goods Sold and credit Finished Goods for the cost of the job.
Jan. 8 Requisitioned $1,241.27 of indirect materials and factory supplies to be used in the manufacture of all jobs currently in process. (Materials requisition No. 680)
Jan. 9 Paid Bob Davis, County Tax Collector, $6321.00 for property taxes accrued as of December 31.
Jan. 9 Purchased from Glory Container Corporation $2,243.26 of indirect factory supplies, credit terms net 15 days.
Jan. 9 Accepted a job for the manufacture of 17 closet units for Bloomingdale Engineering. The promise date is Feb. 14. Began the job today by applying $5,914.00 of direct materials to Job. No. 406. (Materials requisition No. 681.)
Jan. 10 Received a check from Tarara Design Corporation for the amount due within the discount period.
Jan. 11 Paid Rorick Hardware Inc. $9,100.00 in payment of the December 31 balance.
Jan. 11 Applied $1,327.14 of direct materials to Job. No. 402 (No. 682)
Jan. 12 Received a check from Ryan Sales Company for the amount due after the discount period has expired.
Jan. 15 Applied $2,214.06 of direct materials to Job No. 404 (No. 683)
Jan. 16 Purchased $503.00 of factory supplies from Samantha Supplies, Inc. and paid cash.
Jan. 16 Applied $3,216.50 of direct labor to Job. No. 405, which will complete the job. (Time ticket No. 130)
Applied factory overhead using the appropriate rate.
Transferred the completed job to the finished goods account.
Jan. 16 Sold four standard vanity units to a cash customer for $1,400. The cost of the goods shipped from finished goods inventory was $1,000.00.
Jan. 17 Requisitioned $614.50 of indirect materials and factory supplies to be used in all factory jobs currently in process (Materials requisition No. 684)
Jan. 17 Signed a contract with Elliana Interiors for the manufacture of 120 counter units. The promise date is Feb. 15. Began the job today by applying $4,220.00 of direct materials to Job. No. 407 (Materials requisition No.685)
Jan. 17 Paid the sales manager of Bath Designs Inc. $142.62 for customer entertaining.
Jan. 18 Received a report from the treasurer that Pickens Contractors, one of our customers, has declared bankruptcy. Wrote off the balance owed to Bath Designs Inc. by Pickens Contractors.
Jan. 18 Sold and shipped Job. No. 405 to the appropriate customer. Refer to that job’s Cost Record for the total cost of the job to determine the selling price.
Jan. 22 Purchased $10,232.16 of direct materials from Neola Supply Company, credit terms net 30 days.
Jan. 22 Accepted a job for the manufacture of 12 sauna units for Maplewood Designers. The promise date is Jan. 31. Began the job today by applying $2,468.10 of direct materials to Job No. 408 (Materials requisition No. 686)
Jan. 24 Paid Glory Container Corp. the amount due today from the Jan. 9 purchase.
Jan. 25 Applied $1,660 of direct labor to Job. No. 402, which will complete the job. (Time ticket No.131)
Applied factory overhead using the appropriate rate.
Transferred the completed job to the finished goods account.
Jan. 26 Sold and shipped Job No. 402 to the appropriate customer. Refer to that job’s Cost Record for the total cost of the job to determine the selling price.
Jan. 26 Ap0plied $3,640 of direct labor to Job. No. 408, which will complete the job. (time ticket No 132)
Applied factory overhead using the appropriate rate.
Transferred the completed job to the finished goods account.
Jan. 29 Sold and shipped Job No 408 to the appropriate customer. Refer to that job’s Cost Records for the total cost of the job for billing purposes.
Jan. 29 Paid Foley Tool Company amount due in payment of the Jan. 1 balance.
Jan. 29 Received a check from Powell Contractors Inc. for the amount due after the discount period has expired.
Jan. 29 Paid Post Office $500.00 for postage added to postage meter. Expense this amount.
Jan. 29 Paid Telephone Company $250.00 for Jan. phone service.
Jan. 29 Paid Owen Advertising Company $1,000.00 for designing ads for our new Internet website.
Jan. 29 Paid Allied Power and Light company $4,216.00 for heat, power, and light. Allocate 25% of this amount to Electricity Expense and 75% to Factory Overhead.
Jan. 31 Applied $1,000.00 of direct labor to Job 404 (time ticket No. 133)
Applied factory overhead using the appropriate rate. This job will not be completed until Feb.
Jan. 31 Applied $4,220.00 of direct labor to Job 407 (time ticket No. 134)
Applied factory overhead using the appropriate rate. This job will not be completed until March.
Jan. 31 Applied $1,160.00 of direct labor to Job 406 (time ticket No. 135)
Applied factory overhead using the appropriate rate. This job will not be completed until Feb.
Jan. 31 Received the following data on the monthly payroll from the payroll clerk:
Direct Labor (already recorded): $23,016.50
New payroll data (to be recorded):
Indirect $11,220.00
Superintendent’s Salary 3,100.00
Sales salaries 11,975.00
Officers’ salaries 7,140.00
Office salaries 6310.10
Record the monthly payroll in the general journal. Remember that direct labor payroll already has been recorded as it was incurred in Jan. Salaries for indirect labor are recorded only at the end of the month. Debit Factory Overhead for Indirect Labor and Superintendent’s salaries, debit other salary expense account for the appropriate amounts, credit FICA Tax Payable for 7.65% of gross pay, credit Employees’ Income Tax Payable for 18% of gross pay, and credit Salaries Payable for the net pay.
All payroll taxes relating to factory personnel are debited to Factory Overhead; all payroll taxes related to non-factory personnel are debited Payroll Taxes Expense – General. The FICA tax is 7.65% of gross pay, state unemployment. Tax is 5.4% of gross pay and federal unemployment. Tax is 0.8% of gross pay. Since this is the first month in the current year, no employee has reached the ceilings on the payroll taxes. Round the charge to Factory Overhead down to the next cent.
Jan. 31 Received a check from Seng Contractors for the amount due after the discount period has expired.
Jan. 31 Received a check from Ruth Builders for the amount due after the discount period has expired.
Jan. 31 Paid all employees for wages earned in Jan.
Jan. 31 Purchased $8,214.00 of direct materials on account from Rorick Hardware Inc.
(Take a trial balance at this point.) According to the book, the total for the debit and credit columns on the general journal BEFORE adjusting and closing entries are made should be $921,436.06. The total for adjusting entries is $18,635.08. Note: The figure for Factory Overhead and Cost of Goods Sold is rounded.
Adjusting Entries:
Jan. 31 Insurance expired during January:
Factory 1,314.00
Selling 61.25
General 268.80
Jan. 31 Office supplies inventory as of Jan. 31 is $1,650
Jan. 31 Depreciation for the month:
Factory equip 642.00
Office equip. 369.70
Jan. 31 Amortization of patents for Jan (debit Factory Overhead) 225.00
Jan. 31 Property tax accrued for the month:
Factory 485.00
General 137.26
Jan. 31 Close out under applied Factory Overhead of $1,427.24 to Cost of Goods Sold.
Jan. 31 Based on past experience, Bath Designs estimates that $7,900.00 is a reasonable balance for the Jan. 31 balance in the Allowance for Doubtful Accounts.
Jan. 31 Income tax is based on 40% of income before tax. Accrue income tax owed by debiting Income Tax Expense and crediting Income Tax Payable for $6,748.83.
(Prepare all reports at this point and print general ledger NOW)
Closing Entries:
Jan. 31 Prepare closing entries to close revenue and expense accounts to Income Summary, and transfer net income to Retained Earnings. (It is acknowledged that this step is not performed until year end; this is for instructional purposes only.) Prepare a Post-Closing Trial Balance.

For instant digital download of the above solution, Please click on the “PURCHASE” link below to get the tutorial for
Bath Designs Inc company designs and manufactures a limited variety of custom bathroom storage cabinets and sauna units Answer

For instant digital download of the above solution or tutorial, please click on the below link and make an instant purchase. You will be guided to the PAYPAL Standard payment page wherein you can pay and you will receive an email immediately with a download link. Please note that in case of technical glitch, the solutions will be emailed to you within 24 hours.

In case you find any problem in getting the download link or downloading the tutorial, please send us an email on mail@genietutorial.com

 

 

Posted on

PROJ 600 Project Management Capstone All Weeks Discussion Course project

PROJ 600 Project Management Capstone All Weeks Discussion Course project A+ Answer

PROJ 600 Project Management Capstone All Weeks Discussion Course project A+ Answer

 

Please click on the “PURCHASE” link below to get PROJ 600 Project Management Capstone All Weeks Discussion Course project A+ Answer

For instant digital download of the above solution or tutorial, please click on the below link and make an instant purchase. You will be guided to the PAYPAL Standard payment page wherein you can pay and you will receive an email immediately with a download link. Please note that in case of technical glitch, the solutions will be emailed to you within 24 hours.

In case you find any problem in getting the download link or downloading the tutorial, please send us an email on mail@genietutorial.com

PROJ 600 Project Management Capstone All Weeks Discussion Course project

Posted on

FIN 515 Managerial Finance Week 7 Problem Set Answer

Week 7 Problem Set Chapter 26 (page 903):
1. Answer the following questions:
a. What is the difference between a firm’s cash cycle and its operating cycle?
b. How will a firm’s cash cycle be affected if a firm increases its inventory, all else being equal?
c. How will a firm’s cash cycle be affected if a firm begins to take the discounts offered by its suppliers, all else being equal?

4. The Greek Connection had sales of $32 million in 2012, and a cost of goods sold of $20 million. A simplified balance sheet for the firm appears below:

THE GREEK CONNECTION
Balance Sheet
As of December 31, 2012 (in $ thousand)

Assets Liabilities and Equity
Cash
Accounts receivable
Inventory $ 2,000
3,950
1,300 Accounts payable
Notes payable
Accruals $ 1,500
1,000
1,220
Total current assets
$ 7,250
Total current liabilities
Long-term debt $ 3,720
3,000
Net plant, property,
and equipment
$ 8,500 Total liabilities
Common equity $ 6,720
9,030
Total assets $ 15,750 Total liabilities and equity $ 15,750
a. Calculate The Greek Connection’s net working capital in 2012.
b. Calculate the cash conversion cycle of The Greek Connection in 2012.
c. The industry average accounts receivable days is 30 days. What would the cash conversion cycle for The Greek Connection have been in 2012 if it had matched the industry average for accounts receivable days?

5. Assume the credit terms offered to your firm by your suppliers are 3/5, Net 30. Calculate the cost of the trade credit if your firm does not take the discount and pays on day 30.

Chapter 27 (page 925):
1. Which of the following companies are likely to have high short-term financing needs? Why?
a. A clothing retailer
b. A professional sports team
c. An electric utility
d. A company that operates toll roads
e. A restaurant chain

2. Sailboats Etc. is a retail company specializing in sailboats and other sailing-related equipment. The following table contains financial forecasts as well as current (month 0) working capital levels. During which months are the firm’s seasonal working capital needs the greatest? When does it have surplus cash?
Month
($000) 0 1 2 3 4 5 6
Net Income $10 $12 $15 $25 $30 $18
Depreciation 2 3 3 4 5 4
Capital Expenditures 1 0 0 1 0 0

Levels of Working Capital
Accounts Receivable $2 3 4 5 7 10 6
Inventory 3 2 4 5 5 4 2
Accounts Payable 2 2 2 2 2 2 2

 

To get the solution for the above tutorial, please click on the below purchase link:

 

Posted on

Ziba, Inc. has provided the following information regarding one of their products for the years 1986 through 2010 Answer

“Problem 2. Ziba, Inc. has provided the following information regarding one of their products for the years 1986 through 2010.

1. Sales in $1,000,000 (Y)

2. Advertising in $1,000 (X1)

3. Price in $100 (X2)

4. Competitor’s Price in $100 (X3)

5. Time (X4),

where 1986 = 1. The data file “Regression and Correlation Data-V10” is located in Assessment 6 folder. Refer to that data file and perform the following analyses and fully explain your results.

a. Run a correlation analysis and explain your results. Be sure to discuss the concept of multicollinearity.

b. Run a regression analysis relating sales (Y) and all of the independent variables [Advertising (X1) through Time (X4).] Is the regression model significant? Explain how you arrived at your answer.

c. Which variables are significant and which are not? Explain how you arrived at your answer.

d. Drop the variable(s) that at 95% confidence were not significant in part “b” and run a new regression analysis. Write your estimated regression equation.

e. What is the value of R-square you found in part “d”?

Fully explain the meaning of the R-square that you found.

f. Use the model of part “d” and forecast sales for 2011 through 2013, assuming the company is planning to increase the price by 4% annually in years 2011 through 2013.

Show your computations and write your answers below.

Year Your Sales forecasts 2011 2012 2013

Year Sales (Y) Advertising (X1) Price (X2)

Competitor’s Price (X3) Time (X4) 1986 1578 400 21.00 20 1 1987 1678 580 21.19 22 2 1988 1800 678 23.10 19 3 1989 1850 776 23.30 21 4 1990 1900 874 25.40 21 5 1991 1950 972 25.63 21 6 1992 2000 1070 27.94 20 7 1993 2050 1168 28.19 22 8 1994 2100 1220 30.72 24 9 1995 2456 1272 31.00 18 10 1996 2812 1324 33.79 21 11 1997 3168 1376 34.10 23 12 1998 3524 1379 37.16 23 13 1999 3880 1382 37.50 17 14 2000 3900 1385 40.87 18 15 2001 3920 1388 41.24 16 16 2002 3940 1391 44.95 25 17 2003 3960 1399 45.36 26 18 2004 3980 1407 49.44 28 19 2005 4000 1415 49.88 18 20 2006 4020 1423 54.37 24 21 2007 4040 1460 54.86 23 22 2008 4060 1497 59.80 24 23 2009 4080 1534 60.34 21 24 2010 4100 1571 65.77 23 25”

 

To get the answer for the above tutorial, please click on the below purchase link –

 

Posted on

Franklin Trash Removal Company received a cash advance of $10,500 on December 1, 2013 Answer

1. Bledsoe Company received $25,000 cash from the issue of stock on January 1, 2013. During 2013 Bledsoe earned $9,500 of revenue on account. The company collected $8,000 cash from accounts receivable and paid $6,400 cash for operating expenses. Based on this information alone, during 2013.
2. Revenue on account amounted to $7,600. Cash collections of accounts receivable amounted to $5,000. Expenses for the period were $3,900. The company paid dividends of $1,350. Net income for the period was

3. Franklin Trash Removal Company received a cash advance of $10,500 on December 1, 2013 to provide services during the months of December, January, and February. The year-end adjustment to recognize the partial expiration of the contract will

4. Prior to closing, XYZ Company’s accounting records showed the following balances:
Retained earnings
$5,900
Service revenue
7,450
Interest revenue
700
Salaries expense
4,300
Operating expenses
1,250
Interest expense
400
Dividends
1,000
After closing, XYZ’s retained earnings balance would be
Retained earnings 5900
Service revenue 7,450
Interest revenue 700
Salaries expense 4,300
Operating expenses 1,250
Interest expense 400 2200
Dividends 1,000 -1000
Closing Balance RE 7100

1. James Company paid $5,100 for one year’s rent in advance beginning on October 1, 2013. James’s 2013 income statement would report rent expense, and its statement of cash flows would report cash outflow for rent, respectively, of

1. Revenue on account amounted to $6,400. Cash collections of accounts receivable amounted to $6,100. Cash paid for expenses was $4,200. The amount of employee salaries accrued at the end of the year was $2,000. Cash flow from operating activities was

7.Woodward Enterprises had the following events during 2013:

The business issued $21,000 of common stock to its stockholders.
The business purchased land for $13,000 cash.
Services were provided to customers for $17,000 cash.
Services were provided to customers for $6,000 on account.
The company borrowed $17,000 from the bank.
Operating expenses of $13,000 were incurred and paid in cash.
Salary expense of $900 was accrued.
A dividend of $5,000 was paid to the owners of Woodward Enterprises.
Assuming the company began operations during 2013, the amount of retained earnings as of December 31, 2013 would be

8. The following accounts and balances were drawn from the records of Hoover Company on December 31, 2013:

Cash

$4,800

Accounts Receivable
$1,800
Dividends
2,400
Common Stock
2,875
Land
2,700
Revenue
2,700
Accounts Payable
1,400
Expense
1,500

The amount of retained earnings as of January 1, 2014 was:

9.Norris Company experienced the following transactions during 2013, its first year in operation.

1. Issued $7,600 of common stock to stockholders.
2. Provided $3,900 of services on account.
3. Paid $2,000 cash for operating expenses.
4. Collected $2,700 of cash from accounts receivable.
5. Paid a $180 cash dividend to stockholders.

9.The amount of retained earnings appearing on Norris Company’s December 31, 2013 balance sheet is:

10 Gonzales Company collected $20,100 on September 1, 2013 from a customer for services to be provided over a one-year period beginning on that date. How much revenue would Gonzales Company report related to this contract on its income statement for the year ended December 31, 2013? How much would it report as cash flows from operating activities for 2013?.

 

To purchase the solution for the above tutorial, please click on the below purchase link –

Posted on

BYP2-2 In the course of routine checking of all journal entries prior to preparing year-end reports Answer

BYP2-2 In the course of routine checking of all journal entries prior to preparing year-end reports, Diane Riser discovered several strange entries. She recalled that the president’s son Ron had come in tohelp out during an especially busy time and that he had recorded some journal entries. She was relieved that there were only a few of his entries, and even more relieved that he had included rather lengthy explanations. The entries Ron made were: 1. Work in Process Inventory 25,000 Cash 25,000 (This is for materials put into process. I don’t find the record that we paid for these, so I’m crediting Cash, because I know we’ll have to pay for them sooner or later.) 2. Manufacturing Overhead 12,000 Cash 12,000 (This is for bonuses paid to salespeople. I know they’re part of overhead, and I can’t find an account called “Non-factory Overhead” or “Other Overhead” so I’m putting it in Manufacturing Overhead. I have the check stubs, so I know we paid these.) 3. Wages Expense 120,000 Cash 120,000 (This is for the factory workers’ wages. I have a note that payroll taxes are $15,000. I still think that’s part of wages expense, and that we’ll have to pay it all in cash sooner or later, so I credited Cash for the wages and the taxes.) 4. Work in Process Inventory 3,000 Raw Materials Inventory 3,000 (This is for the glue used in the factory. I know we used this to make the products, even though we didn’t use very much on any one of the products. I got it out of inventory, so I credited aninventory account.
Instructions
(a) How should Ron have recorded each of the four events?
(b) If the entry was not corrected, which financial statements (income statement or balance sheet) would be affected?
(c) What balances would be overstated or understated?

For getting the instant digital download solution, Please click on the “PURCHASE” link below to get “BYP2-2 journal entries prior to preparing year-end reports_Diane Riser discovered several strange entries Answer”.

 

Posted on

A mail-order house uses 18,000 boxes a year. Carrying costs are 60 cents per box a year, and ordering costs are $96 Answer

A mail-order house uses 18,000 boxes a year. Carrying costs are 60 cents per box a year, and ordering costs are $96. The following price schedule applies. Determine


 

Ans:

   

  

Price Level:  

1 

2 

3 

4 

Minimum quantity for price 

Qmin =

1000 

2000 

5000 

10000 

Price 

  

  

P = 

1.25 

1.20 

1.15 

1.10 

Optimal Q (for each price) 

Qopt =

2400 

2400 

5000 

10000 

Number of orders per year

D/Qopt =

7.5 

7.5 

3.6 

1.8 

Average Inventory 

 

Qopt/2 =

1200 

1200 

2500 

5000 

Annual carrying cost 

 

(Qopt/2) * H =

720 

720 

1500 

3000 

Annual ordering cost 

(D/Qopt) * S =

720 

720 

345.6 

172.8 

Annual purchase cost 

P * D = 

22500 

21600 

20700 

19800

Total Annual Cost 

  

TC = 

23940 

23040 

22545.6 

22972.8 

 

Annual Demand 

  

D = 

18000 

Ordering cost per order 

S = 

96 

Annual carrying cost per unit:  

H (fixed) = 

0.6 

 

1 

TRUE 

 

H (% of price) = 

  

Optimal Q (overall) 

  

Qopt =

5000 

         

Actual Order Quantity

Q = 

5000 

Increment 

  

Q =

10 

Price 

  

  

P = 

1.15 

Number of orders per year 

D/Q = 

3.6 

Average Inventory 

 

Q/2 = 

2500 

Annual carrying cost 

 

(Q/2) * H = 

1500 

Annual ordering cost 

(D/Q) * S = 

345.6 

Annual purchase cost 

P * D = 

20700 

Total Annual Cost

  

TC = 

22545.6 

 

a.The optimal order quantity.

Ans:

Optimal order quantity = 5000

b.The number of orders per year.

Ans: Number of orders per year = 3.6

Posted on

Assume that the company has accumulated 20TB of data and that 20% per year growth is expected in the size of the Data Warehouse Answer

3.Assume that the company has accumulated 20TB of data and that 20% per year growth is expected in the size of the Data Warehouse. Recommend a solution for this scenario with respect to software, hardware and network requirements.

4.Create a diagram using Visio, Microsoft Paint, or other graphical creation utility of your choosing to illustrate the conceptual data feeds into and out of the data warehouse. Note: The graphically depicted solution is not included in the required page length.

To purchase the solution for the above tutorial, please click on the below link.