Golden Corp., a merchandiser, recently completed its 2018 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. The company’s balance sheets and income statement follow.

Problem 12-6A Indirect: Statement of cash flows LO P1, P2, P3

Additional Information on Year 2018 Transactions

1. Purchased equipment for $36,000 cash.
2. Issued 12,000 shares of common stock for $5 cash per share.
3. Declared and paid $89,000 in cash dividends.

Required:
Prepare a complete statement of cash flows; report its cash inflows and cash outflows from operating activities according to the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

How can we use algebraic skills and properties to conduct business and solve business problems? What is an example of a way we can use algebraic skills to make decisions?

The information below pertains to Kingbird Company for 2018.

Net income for the year $1,150,000

6% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 2,040,000

6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock 4,130,000

Common stock, $10 par value 6,030,000

Tax rate for 2018 40%

Average market price of common stock $25 per share There were no changes during 2018 in the number of common shares, preferred shares, or convertible bonds outstanding. There is no treasury stock. The company also has common stock options (granted in a prior year) to purchase 73,600 shares of common stock at $20 per share.

Compute diluted earnings per share for 2018.

1.

Andrew Clark's shoe company has the following information:

Selling price per pair of shoes: $100

Direct materials per pair of shoes: $30

Direct labor per pair of shoes: $20

Variable Selling expense per pair of shoes: $5

Variable overhead per pair of shoes: $10

Fixed overhead per month: $10,000

Fixed Selling expenses per month: $20,000 I

n January, 2,000 pairs of shoes were produced and 1,800 pairs of shoes were sold.

Using variable contribution margin costing, what is the contribution margin for January?

Group of answer choices

$81,000

$63,000

$70,000

$72,000

Using absorption costing, what is the gross margin for January?

Group of answer choices

$63,000

$62,010

$54,000

$36,000

2.

Brat Pack books has the following financial information for the month of October:

Direct labor per book: $3

Direct material per book: $2

Manufacturing overhead per book: $1

Variable selling expense per book: $0.50

Fixed Manufacturing overhead: $5,000

Fixed selling expenses: $2,000

If there were 4,000 books produced and sold in October, what is the variable cost per book using the contribution margin method?

Group of answer choices

$5.00

$7.25

$6.00

$6.50

If there were 4,000 books produced and sold in October, what is the cost of goods sold per book using the absorption costing method?

Group of answer choices

$6.25

$5.00

$6.50

$7.25

3.

Reynolds Corp has the following information:

Selling price: $15 per unit

Direct labor: $4 per unit

Direct materials: $2 per unit

Fixed Manufacturing Expense: $50,000

What is their breakeven point?

Group of answer choices

8,334 Units

3,334 Units

5,000 Units

5,556 Units

The following transactions occurred during December, the first month of operations for Harris Company. Prepare journal entries and create a T-account for accounts payable that includes the following five transactions.

Builder Products, Inc., uses the weighted-average method in its process costing system. It manufactures a caulking compound that goes through three processing stages prior to completion. Information on work in the first department, Cooking, is given below for May: Production data: Pounds in process, May 1; materials 100% complete; conversion 90% complete 83,000 Pounds started into production during May 480,000 Pounds completed and transferred out ? Pounds in process, May 31; materials 75% complete; conversion 25% complete 43,000 Cost data: Work in process inventory, May 1: Materials cost $ 128,300 Conversion cost $ 53,900 Cost added during May: Materials cost $ 666,940 Conversion cost $ 296,395 Required: 1. Compute the equivalent units of production for materials and conversion for May. 2. Compute the cost per equivalent unit for materials and conversion for May. 3. Compute the cost of ending work in process inventory for materials, conversion, and in total for May. 4. Compute the cost of units transferred out to the next department for materials, conversion, and in total for May. 5. Prepare a cost reconciliation report for May.

High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:

Management is anxious to assess the profitability of the new camp cot during the month of May.

Required:

1. Assume that the company uses absorption costing.

a. Determine the unit product cost.

b. Prepare an income statement for May.

2. Assume that the company uses variable costing.

a. Determine the unit product cost.

b. Prepare a contribution format income statement for May.

1. The one adjusting entry that has not yet been recorded is income tax expense for the month of September.  Determine this entry and add it to the trial balance.  Assume the company has an effective tax rate of 35%.
2. Prepare each financial statement, in good form, using Excel.   Good form means you should have an appropriate three-part heading, no abbreviations, and dollar signs and underscores in appropriate places.  You should be proud to hand these financial statements to your banker.  Use the financial statements in the Accounting Cycle Review PowerPoint file from the first day of class as a guide with the following modifications:

Use the following information of Alfred Industries.

Compute the overhead spending variance and the volume variance. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).)

Ajax Company manufactures equipment that they sell or lease. On January 1, 2019, Ajax leased equipment to Comet Company for a five-year period after which ownership of the leased asset will be transferred to Comet. The lease calls for equal annual payments of $50,000. The first payment is due on January 1, 2019. Thereafter, the payments are due on December 31st of each year with the second payment due on December 31, 2019. The equipment cost Ajax $176,000 to produce. The implicit interest rate for the lease is 5½ percent. For the year ended December 31, 2019, what amount of total income (the sum of gross profit on the sale and interest income) related to this lease transaction should Ajax report?

Question 6 options:

kj. is the lessee under a finance lease with a provision to purchase the leased asset at the end of the lease term for a bargain price. The depreciation (leased asset amortization) period used by the kj must be

1.As digital marketing and advertising gets more and more personalised, will we see less mass-market sales events such as Click Frenzy, Singles Day, or Black Friday? Discuss（600words）

Sequel Theatre, owned by Nadia Wood, is unique as it shows only movies that are part of a theme with sequels. As at April 30, 2021, the ledger of Sequel Theatre showed the following: Cash $18,900, Land $75,000, Buildings $69,800, Equipment $17,000, Accounts Payable $4,990, Mortgage Payable $106,300, and N. Wood, Capital $69,410. In May, the following events and transactions occurred:

Journalize transactions, post, and prepare trial balance.

In addition to the accounts identified above, Sequel Theatre's ledger includes the following: Accounts Receivable; Admission Revenue; Concession Revenue; Advertising Expense; Film Rental Expense; Interest Expense; and Salaries Expense.

Instructions

a. Journalize the May transactions.

b. Enter the beginning balances in the ledger as at May 1. Use the ledger format provided in Illustration 2.20.

c. Post the May journal entries to the ledger.

d. Prepare a trial balance at the end of May.

i already posted this question 2 times and getting just a) part solved from you guys that's really not appreciable please i want b) c) and d) part.

The Wells Fargo scandal began unraveling in September 2016. Federal regulators divulged that Wells Fargo employees created millions of secret bank and credit card accounts without customer approval. They received a $185 million fine and revealed that they had fired 5,300 employees because of the fraud. Fast forward to 2018, the scandals continue to mount for this company.

Regulators have fined Wells Fargo for their unethical business practices. Do you believe that regulators have done enough to deter Wells Fargo from repeating this behavior or do you believe that regulators have failed and are allowing Wells Fargo to continue the status quo? What is your proposal? Support your answers by citing research on the case.

Smoky Mountain Corporation makes two types of hiking boots—the Xtreme and the Pathfinder. Data concerning these two product lines appear below: Xtreme Pathfinder Selling price per unit $ 123.00 $ 86.00 Direct materials per unit $ 63.80 $ 50.00 Direct labor per unit $ 10.80 $ 9.00 Direct labor-hours per unit 1.2 DLHs 1.0 DLHs Estimated annual production and sales 27,000 units 74,000 units The company has a traditional costing system in which manufacturing overhead is applied to units based on direct labor-hours. Data concerning manufacturing overhead and direct labor-hours for the upcoming year appear below: Estimated total manufacturing overhead $ 2,340,800 Estimated total direct labor-hours 106,400 DLHs Required: 1. Compute the product margins for the Xtreme and the Pathfinder products under the company’s traditional costing system. 2. The company is considering replacing its traditional costing system with an activity-based costing system that would assign its manufacturing overhead to the following four activity cost pools (the Other cost pool includes organization-sustaining costs and idle capacity costs): Estimated Overhead Cost Expected Activity Activities and Activity Measures Xtreme Pathfinder Total Supporting direct labor (direct labor-hours) $ 691,600 32,400 74,000 106,400 Batch setups (setups) 900,000 270 230 500 Product sustaining (number of products) 700,000 1 1 2 Other 49,200 NA NA NA Total manufacturing overhead cost $ 2,340,800 Compute the product margins for the Xtreme and the Pathfinder products under the activity-based costing system. 3. Prepare a quantitative comparison of the traditional and activity-based cost assignments.

please solve all question

Morrigan Department Stores (The Ethics of Forced Software Upgrading)Morrigan Department Stores is a chain of department stores in Australia, New Zealand,Canada, and the United States that sells clothing, shoes, and similar consumer items in aretail setting. The top managers and their staff members meet once a year at the nationalmeeting. This year’s meeting took place in Hawaii—a geographical midpoint for them—andseveral accounting managers participated in a round-table discussion that went as follows:Roberta Gardner (United States): One of our biggest problems in our Aukland office isthe high cost and seemingly constant need to upgrade our hardware and software. Everytime our government changes the tax laws, of course, we must acquire software that reflects those changes. But why do we need new hardware too? All this discussion of‘‘64-bit machines’’ is a mystery to me, but the IT department says the hardware in the oldmachines quickly become outdated.Donalda Shadbolt (New Zealand): I’ll say! If you ask me, all these upgrades are costly,time consuming, and even counter-productive. I do a lot of work on spreadsheets, forexample, and constantly ask myself: ‘‘Why do I have to spend hours relearning how toformat a simple column of numbers in the newest version of Excel?’’ It takes time andeffort, it’s frustrating, and in the end, I’ve spent hours relearning skills that I already knowhowtodointheolderversion.Linda Vivianne (Canada): I know what you mean, but the newer hardware is faster,cheaper, and more capable than the old machines. Hard drives have moving parts in them,for example, and they eventually wear out. The newer software runs under the neweroperating systems, which are also more competent and have more built in security such asantivirus software.Ed Ghymn (Australia): I agree with you, Linda, but I think a lot of these new capabilitiesare more hype than real. If the security software was competent, we wouldn’t need allthose patches and upgrades in the first place. And why must we upgrade so often, just toget newer capabilities that most of us don’t even need?Alex McLeod (Australia): I don’t think anyone can stop the march of progress. I think thereal problem is not the upgrades to new software, but the fact that our company expects usto learn it without proper training. Personally, I don’t buy my boss’s argument that ‘‘you’rea professional and should learn it on your own.’’Linda Vivianne (Canada): I’m also beginning to realize just what advantages there arein outsourcing some of our accounting applications to cloud service providers. Thatwon’t solve all our problems because we all still need word processing and spreadsheetcapabilities, but at least we can let cloud providers deal with the software upgrades for ouraccounting software. Given how dispersed we are, that might also make it easier for us toconsolidate our financial statements at year’s end too.

Questions:

1. Do you think that Roberta Gardner’s description of “64-bit machines is accurate? Why or why not?
2. Many software vendors such as Microsoft, Adobe and Apple ship software packages with both known and unknown defects in them. Do you feel that it is ethical for them to do so? Why or why not?
3. Do you agree or disagree with the argument made in this case that many hardware and software upgrade are unnecessary? Why?