There are four categories of Adjusting Entries: Prepaid Expenses (including Depreciation), Unearned Revenue, Accrued Expenses, and Accrued Revenue. Within each of these categories, there are a lot of examples that we could show.
For this graded discussion, please choose one category of Adjusting Entries. Within that category, choose one example of an adjusting entry that you might make in a company.
In: Accounting
In: Biology
The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 64 on December 31, 20Y2.
| Marshall Inc. | ||||||
| Comparative Retained Earnings Statement | ||||||
| For the Years Ended December 31, 20Y2 and 20Y1 | ||||||
| 20Y2 | 20Y1 | |||||
| Retained earnings, January 1 | $ 4,159,100 | $ 3,518,300 | ||||
| Net income | 921,600 | 720,600 | ||||
| Total | $5,080,700 | $ 4,238,900 | ||||
| Dividends: | ||||||
| On preferred stock | $ 11,900 | $ 11,900 | ||||
| On common stock | 67,900 | 67,900 | ||||
| Total dividends | $ 79,800 | $ 79,800 | ||||
| Retained earnings, December 31 | $ 5,000,900 | $ 4,159,100 | ||||
| Marshall Inc. | ||||
| Comparative Income Statement | ||||
| For the Years Ended December 31, 20Y2 and 20Y1 | ||||
| 20Y2 | 20Y1 | |||
| Sales | $ 5,450,910 | $ 5,022,190 | ||
| Cost of goods sold | 1,949,100 | 1,793,170 | ||
| Gross profit | $ 3,501,810 | $ 3,229,020 | ||
| Selling expenses | $ 1,185,450 | $ 1,442,200 | ||
| Administrative expenses | 1,009,830 | 847,010 | ||
| Total operating expenses | $2,195,280 | $2,289,210 | ||
| Income from operations | $ 1,306,530 | $ 939,810 | ||
| Other revenue | 68,770 | 59,990 | ||
| $ 1,375,300 | $ 999,800 | |||
| Other expense (interest) | 328,000 | 180,800 | ||
| Income before income tax | $ 1,047,300 | $ 819,000 | ||
| Income tax expense | 125,700 | 98,400 | ||
| Net income | $ 921,600 | $ 720,600 | ||
| Marshall Inc. | |||||||
| Comparative Balance Sheet | |||||||
| December 31, 20Y2 and 20Y1 | |||||||
| 20Y2 | 20Y1 | ||||||
| Assets | |||||||
| Current assets | |||||||
| Cash | $ 921,420 | $ 974,710 | |||||
| Marketable securities | 1,394,590 | 1,615,230 | |||||
| Accounts receivable (net) | 985,500 | 927,100 | |||||
| Inventories | 730,000 | 569,400 | |||||
| Prepaid expenses | 174,322 | 194,940 | |||||
| Total current assets | $ 4,205,832 | $ 4,281,380 | |||||
| Long-term investments | 3,151,788 | 1,733,000 | |||||
| Property, plant, and equipment (net) | 4,920,000 | 4,428,000 | |||||
| Total assets | $ 12,277,620 | $ 10,442,380 | |||||
| Liabilities | |||||||
| Current liabilities | $ 1,356,720 | $ 2,203,280 | |||||
| Long-term liabilities: | |||||||
| Mortgage note payable, 8% | $ 1,840,000 | $ 0 | |||||
| Bonds payable, 8% | 2,260,000 | 2,260,000 | |||||
| Total long-term liabilities | $ 4,100,000 | $ 2,260,000 | |||||
| Total liabilities | $ 5,456,720 | $ 4,463,280 | |||||
| Stockholders' Equity | |||||||
| Preferred $0.70 stock, $50 par | $ 850,000 | $ 850,000 | |||||
| Common stock, $10 par | 970,000 | 970,000 | |||||
| Retained earnings | 5,000,900 | 4,159,100 | |||||
| Total stockholders' equity | $ 6,820,900 | $ 5,979,100 | |||||
| Total liabilities and stockholders' equity | $ 12,277,620 | $ 10,442,380 | |||||
Required:
Determine the following measures for 20Y2, rounding to one decimal place, except for dollar amounts, which should be rounded to the nearest cent. Use the rounded answer of the requirement for subsequent requirement, if required. Assume 365 days a year.
| 1. Working capital | $ | |
| 2. Current ratio | ||
| 3. Quick ratio | ||
| 4. Accounts receivable turnover | ||
| 5. Number of days' sales in receivables | days | |
| 6. Inventory turnover | ||
| 7. Number of days' sales in inventory | days | |
| 8. Ratio of fixed assets to long-term liabilities | ||
| 9. Ratio of liabilities to stockholders' equity | ||
| 10. Times interest earned | ||
| 11. Asset turnover | ||
| 12. Return on total assets | % | |
| 13. Return on stockholders’ equity | % | |
| 14. Return on common stockholders’ equity | % | |
| 15. Earnings per share on common stock | $ | |
| 16. Price-earnings ratio | ||
| 17. Dividends per share of common stock | $ | |
| 18. Dividend yield | % |
In: Accounting
List and briefly explain each of the four properties of indifference curves. Provide an example where you have made a buying decision based on one or more of these properties. Justify your answer.
In: Economics
It seems like every day we hear about another data breach. Find and discuss at least TWO recent examples of data breaches. Why are these important? How can these affect a business? In the examples you cite, what was the cost to the business involved? How long did the breach continue before the company find the breach? Cite your sources. Do these cause you to not buy items online or use social media?
In: Computer Science
Balance the following equation in basic conditions. Phases are optional.
CoCl2+Na2O2 = Co(OH)3+Cl- +Na+
In: Chemistry
A. In what way can government's expenditures on education affect the economic growth? In what way the economic growth can affect government's expenditures on education?
B. Discuss pros and cons for small local governments' units.
C. "Higher earners should be subject to higher tax rate". Discuss.
In: Economics
In: Economics
Write this code in full c++ and in separate files in visual studio.
Binary Search Tree Using a binary search tree, you are tasked with building a dictionary program that stores a word with its definition. Each node of the tree will contain the word and definition. The word is what will be used as the key to sort our data. The dictionary should allow you to search for a word. If the word exists in the dictionary then the definition will display. You can also add words to the dictionary. For testing you should be able to display the current word list. The dictionary will populate from a data file and new words will be saved to the file as well.
In: Computer Science
A buffer solution is prepared from equal volumes of 0.200 M acetic acid and 0.600 M sodium acetate use 1.80 *10^-5 as Ka for acetic acid.
a.) what is the pH of the solution
b.) Is the solution acidic or basic
c.) What is the pH of a solution that results when 3.00ml of 0.034 M HCl is added to 0.200L of the original buffer
In: Chemistry
The capacity of a storage battery, such as those used in automobile electrical systems, is rated in ampere-hours (A?h). A 50 A?h battery can supply a current of 50 A for 1.0 h, or 25 A for 2.0 h, and so on.
(I need some help on Part A & C Thank you : )
Part A
What total energy can be supplied by a 10V , 80A?h battery if its internal resistance is negligible?
Express your answer using two significant figures.
Part B
What volume (in liters) of gasoline has a total heat of combustion equal to the energy obtained in part (a)? (See Section 17.6; the density of gasoline is 900 kg/m3.)
Express your answer using two significant figures.
Ans: 7.0*10^-2
Part C
If a generator with an average electrical power output of 0.45kW is connected to the battery, how much time will be required for it to charge the battery fully?
Express your answer using two significant figures.
In: Physics
In: Anatomy and Physiology
You plan to purchase a $270,000 house using a 15-year mortgage
obtained from your bank. The mortgage rate offered to you is 5.00
percent. You will make a down payment of 20 percent of the purchase
price.
a. Calculate your monthly payments on this
mortgage.
b. Construct the amortization schedule for the
mortgage. How much total interest is paid on this mortgage?
Construct the amortization schedule for the mortgage? (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))
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How much total interest is paid on this mortgage?
In: Finance
**new answer needed****
Applying Principles of the Nervous System to Pharmaceutical Research
Imagine you are a
student studying for your pharmacy technician certification exam.
Your friend is quizzing you over drugs that affect the nervous
system.
As a pharmacy technician you may be asked by a customer how a drug
works or why they are taking a particular medication. They may be
taking many different medications and can’t remember why they take
a certain one.
Unit 4 DQ Question: Serotonin is a neurotransmitter involved in the
control of mood. Based on this description, predict what types of
health conditions Selective Serotonin Reuptake Inhibitors (SSRIs)
could be used to treat.
In: Biology
One of the conditions for Uniform Circular Motion is that the acceleration be centripetal and directed toward the center of motion. What would the effect be of a non-zero acceleration parallel to the tangential velocity?
In: Physics