Typical balance sheet classifications are as follows.

1.      Current Assets                                                                              g.     Long-Term Liabilities
2.      Investments and Funds                                                              h.     Capital Stock
3.      Property, Plant and Equipment                                                 i.      Additional Paid-In Capital
4.      Intangible Assets                                                                         j.      Retained Earnings
5.      Other Assets                                                                                 k.     Notes to Financial Statements
6.      Current Liabilities                                                                        l.      Not Reported on Balance Sheet

Indicate by use of the above letters how each of the following items would be classified on a balance sheet prepared at December 31, 2014. If a contra account, or any amount that is negative or opposite the normal balance, put parentheses around the letter selected. A letter may be used more than once or not at all.

_____     1.     Accrued salaries and wages

_____     2.     Rent revenues for 3 months collected in advance

_____     3.     Land used as plant site

_____     4.     Equity securities classified as trading

_____     5.     Cash

_____     6.     Accrued interest payable due in 30 days

_____     7.     Premium on preferred stock issued

_____     8.     Premium on bonda payable

_____     9.     Petty cash fund

_____ 10.     Unamortized discount on bonds payable due 2017

_____ 11.     Common stock at par value

_____ 12.     Bond indenture covenants

_____ 13.     Unamortized premium on bonds payable due in 2018

_____ 14.     Allowance for doubtful accounts

_____ 15.     Accumulated depreciation—equipment

_____ 16.     Reserve for plant expansion

_____ 17.     Retired equipment awaiting sale

_____ 18.     Inventory held on consignment

_____ 19.     Trading securities

_____ 20.     Investment in stock of ABC Company (held for influence)

_____ 21.     Dividends in arrears on preferred stock

9. Where does the reconciliation of cash appear in the Statement of Cash Flows and where do the notes to the Statement of Cash Flows appear

review the financial statements of the march of dimes for 2013 as presented in table 12-8. comment as you can (even in the absence of guidelines as to what constitutes norms for comparable foundations) on the fiscal strength of the organization as of Dec. 21, 2013 with respect to: liquidity, burden of debt relative to assets, adequacy of available resources to meet expenditures, current fiscal performance as indicated by surpluses or deficits and riskiness of revenue stream

Family Medical Care (FMC) is a family medical practice with 8 physicians, a nursing staff of 10 to 12 nurses, and an administrative staff that varies from 6 to 9 personnel. Rajat Patel, the chief physician at FMC, is interested in studying the efficiency of the practice as a basis to set some benchmarks for further improvement, for rewarding his staff, and for comparing the efficiency of the FMC practice to other family medical practices. He is able to get comparable data for other practices from industry sources. So that the data are consistent with the industry sources, Patel has asked Marin & Associates, his accounting firm, to develop a set of productivity measures that would satisfy this requirement. Upon investigation, Joseph Marin finds that the measures to be used are the partial financial and operational productivity measures as defined in the chapter. The following information is for the last 2 years for the FMC practice:

Required:

1. Compute the partial financial productivity ratios for nursing and administrative support for the current and prior year.

2. Separate the change in the partial financial productivity ratio from the prior year to the current year into productivity changes, input price changes, and output changes.

(For all requirements, round your answers to 4 decimal places. Negative values should be indicated by a minus sign.)

The following data have been taken from the accounting records of Graham Corporation for the year ended December 31, 2019. Total manufacturing overhead costs incurred $338,000 Manufacturing overhead applied to Work in Process 345,000 Purchases of raw materials 235,000 Direct labor 135,000 Raw materials inventory - January 1, 2019 10,000 Raw materials inventory - December 31, 2019 15,000 Work in process inventory - January 1, 2019 20,000 Work in process inventory - December 31, 2019 35,000 Finished goods inventory – January 1, 2019 75,000 Finished goods inventory – December 31, 2019 90,000

a. Prepare a Schedule of Cost of Goods Manufactured for the year.
b. Prepare a Schedule of Cost of Goods Sold for the year.

Forester Company has five products in its inventory. Information about the December 31, 2021, inventory follows.

The cost to sell for each product consists of a 20 percent sales commission. The normal profit for each product is 30 percent of the selling price.

Required:
1. Determine the carrying value of inventory at December 31, 2021, assuming the lower of cost or market (LCM) rule is applied to individual products.

Determine the carrying value of inventory at December 31, 2021, assuming the lower of cost or market (LCM) rule is applied to individual products. (Do not round intermediate calculations.)

Inventory by Three Methods

The units of an item available for sale during the year were as follows:

There are 22 units of the item in the physical inventory at December 31. The periodic inventory system is used.

Determine the inventory cost under each of the following methods.

a. Determine the inventory cost by the first-in, first-out method.
$

b. Determine the inventory cost by the last-in, first-out method.
$

c. Determine the inventory cost by the average cost method. When computing your answer, round the average cost per unit to the nearest whole dollar.
$

1.Explain patient financial obligations for services rendered?

2. Describe banking procedures as related to the ambulatory care setting?

3. Identify precautions for accepting the following types of payment

a) cash

b) check

c) credit card

d) debit card

1. Describe the term relevant range. Why is it important to stay within the relevant range when estimating costs?
2. Describe the variables in the cost equation Y = f + vX.

The following table shows the balances from various accounts in the adjusted trial balance for UniLink Telecom Corp. as of December 31, 2020:

Required:
1. Assuming that the company’s income tax rate is 30%, what are the tax effects and after-tax measures of the items labelled as pre-tax? (Negative answers should be indicated by a minus sign.)

2. Prepare a multi-step income statement for the year ended December 31, 2020. (Amounts to be deducted should be indicated by a minus sign in the other revenues and expenses section and the discontinued operations section.)

A company completed the following transactions during the month of October:

I.Purchased office supplies on account,  $4400.

II.Provided services for cash,  $22,000.

III.Provided services on account,  $13,000.

IV.Collected cash from a customer on account,  $8800.

V.Paid the monthly rent of  $16,000.

What was the company's net income for the month?

The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance as of July 31, 2017. On July 31, the company’s Cash account has a $25,864 debit balance, but its July bank statement shows a $27,654 cash balance. Check No. 3031 for $1,310 and Check No. 3040 for $647 were outstanding on the June 30 bank reconciliation. Check No. 3040 is listed with the July canceled checks, but Check No. 3031 is not. Also, Check No. 3065 for $431 and Check No. 3069 for $2,078, both written in July, are not among the canceled checks on the July 31 statement. In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that Check No. 3056 for July rent expense was correctly written and drawn for $1,240 but was erroneously entered in the accounting records as $1,230. The July bank statement shows the bank collected $9,500 cash on a noninterest-bearing note for Branch, deducted a $48 collection expense, and credited the remainder to its account. Branch had not recorded this event before receiving the statement. The bank statement shows an $805 charge for a $795 NSF check plus a $10 NSF charge. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. The July statement shows a $14 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received. Branch’s July 31 daily cash receipts of $10,652 were placed in the bank’s night depository on that date but do not appear on the July 31 bank statement. Problem 6-4A Part 1 Required: 1. Prepare the bank reconciliation for this company as of July 31, 2017. 2. Prepare the journal entries necessary to bring the company’s book balance of cash into conformity with the reconciled cash balance as of July 31, 2017. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

1A. Max's Company invests in the bonds issued by CarmCorp. On 1/1/20 Max buys $10,000 of 8% bonds that pay interest on 1/1. They mature in 5 years and yield 10%. Max pays $9,242. On 12/31/20, the fair market value of the bonds is $11,000. Assuming the bonds are classified as "Trading", prepare the journal entries for 1/1/20, 12/31/20, and 1/1/21. You may omit the closing journal entries.

1B. Max's Company invests in the bonds issued by CarmCorp. On 1/1/20 Max buys $10,000 of 8% bonds that pay interest on 1/1. They mature in 5 years and yield 10%. Max pays $9,242. On 12/31/20, the fair market value of the bonds is $11,000. Assuming the bonds are classified as "HTM", prepare the journal entries for 1/1/20, 12/31/20, and 1/1/21. You may omit the closing journal entries.

1C. Max's Company invests in the bonds issued by CarmCorp. On 1/1/20 Max buys $10,000 of 8% bonds that pay interest on 1/1. They mature in 5 years and yield 10%. Max pays $9,242. On 12/31/20, the fair market value of the bonds is $11,000. Assuming the bonds are classified as "AFS", prepare the journal entries for 1/1/20, 12/31/20, and 1/1/21. You may omit the closing journal entries.

Value-Stream Product Costing, ABC, and DBC

Brasher Company is transitioning to a lean manufacturing system and has just finalized two order fulfillment value streams. One of the value streams has two products, and the other has four products. The two-product value stream produces precision machine parts and the four-product value stream produces machine tools. Before moving to the value-stream structure, Brasher had a well-developed ABC system (one that used all duration drivers) and had experienced good success with the more accurate product costs. Management wanted to be sure that the average costing approach of value-stream costing did not produce distorted product costs. Accordingly, expected weekly activity data were provided for the two-product value streams to see how well average costing worked (see below); however, management did not want to continue using ABC because of its intense data demands and the cost of updating as changes unfolded due to lean practices. In the table below, the driver for each activity is a duration driver. Order processing, for example, uses hours available for processing orders; purchasing uses hours available for processing purchases, etc.

Machine Parts Value Stream

For the Coming Week

                                   Conversion      Part M15        Part M78    Total Activity

Activity                          Cost         (hours used)   (hours used)         hours

Order processing          $ 36,000           600                  1,800               2,400

Purchasing                      72,000           200                    300                   500

Lathe                               108,000         480                  320                   800

Milling                            200,000           800                  1,200               2,000

Drilling                           144,000           720                  1,680               2,400

Assembly                          40,000        1,200                    800               2,000

Inspection                        20,000           800                     200               1,000

Shipping                          18,000            600                     200                  800

Invoicing                         32,000             700                      800                1,500

Totals                          $670,000            6,100                  7,300            13,400

During the week, the machine parts value stream expects to produce and ship 10,000 units of M15 and 30,000 units of M78. Since materials cost is calculated separately, the main concern is with the unit conversion cost.

Required:

1. Calculate the average unit conversion cost for the two machine parts.

2. Calculate the conversion cost per unit for each part, using ABC. Comparing ABC unit cost with the average cost, what would you recommend?

3. Calculate the conversion cost per unit, using DBC (first calculating the cycle time for each product). Based on this outcome, what would you recommend to the management of Brasher Company?

Many accounting and accounting-related professionals are skilled in financial analysis, but most are not skilled in manufacturing. This is especially the case for process manufacturing environments (for example, a bottling plant or chemical factory). To provide professional accounting and financial services, one must understand the industry, product, and processes. We have an ethical responsibility to develop this understanding before offering services to clients in these areas.

Question:

1. How you would obtain an understanding of key business processes of a company that hires you to provide financial services. Please specify an industry, a product, and one selected process and draw on at least one reference, such as a professional journal or industry magazine.