Assume your organization has the following inventory changes during the year.

Beginning inventory - 15 units valued at $10,000 each

February purchases - 13 units at $11,500 each

June purchases - 20 units at $12,000 each

Total units used - 42

calculate the value of then ending inventory and the value of the inventory used for the year, using both the FIFO and the LIFO method of cost flow

The general ledger of Red Storm Cleaners at January 1, 2018, includes the following account balances:

The following is a summary of the transactions for the year:

1. March 12 Provide services to customers, $44,000, of which $19,400 is on account.
2. May 2 Collect on accounts receivable, $16,400.
3. June 30 Issue shares of common stock in exchange for $6,000 cash.
4. August 1 Pay salaries, $24,400 (of which $8,700 is for salaries payable in 2017).
5. September 25 Pay repairs and maintenance expenses, $11,400.
6. October 19 Purchase equipment for $6,400 cash.
7. December 30 Pay $1,100 cash dividends to stockholders.
8. Accrued salaries at year-end amounted to $1,100. Depreciation for the year on the equipment is $3,400. Office supplies remaining on hand at the end of the year equal $1,000.

Required:

1., 3. 6. & 10. Enter the unadjusted balances from the trial balance and post the adjusting entries to the T-accounts, and post the closing entries to the T-accounts.

2. Record each of the summary transactions listed above. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.)

4. Prepare an unadjusted trial balance.

5. Record adjusting entries. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.)

7. Prepare an adjusted trial balance.

8-a. Prepare the income statement for the year ended December 31, 2018.

9. Record closing entries. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.)

11. Prepare a post-closing trial balance.

Troy Engines, Ltd., manufactures a variety of engines for use in heavy equipment. The company has always produced all of the necessary parts for its engines, including all of the carburetors. An outside supplier has offered to sell one type of carburetor to Troy Engines, Ltd., for a cost of $40 per unit. To evaluate this offer, Troy Engines, Ltd., has gathered the following information relating to its own cost of producing the carburetor internally:

*One-third supervisory salaries; two-thirds depreciation of special equipment (no resale value).

Required:

1. Assuming the company has no alternative use for the facilities that are now being used to produce the carburetors, what would be the financial advantage (disadvantage) of buying 15,000 carburetors from the outside supplier?

2. Should the outside supplier’s offer be accepted?

3. Suppose that if the carburetors were purchased, Troy Engines, Ltd., could use the freed capacity to launch a new product. The segment margin of the new product would be $150,000 per year. Given this new assumption, what would be the financial advantage (disadvantage) of buying 15,000 carburetors from the outside supplier?

4. Given the new assumption in requirement 3, should the outside supplier’s offer be accepted?

Assuming the company has no alternative use for the facilities that are now being used to produce the carburetors, what would be the financial advantage (disadvantage) of buying 15,000 carburetors from the outside supplier?

Should the outside supplier’s offer be accepted? Yes/No

Suppose that if the carburetors were purchased, Troy Engines, Ltd., could use the freed capacity to launch a new product. The segment margin of the new product would be $150,000 per year. Given this new assumption, what would be the financial advantage (disadvantage) of buying 15,000 carburetors from the outside supplier?'

XYZ Corporation has a deferred compensation plan under which it allows certain employees to defer up to 20 percent of their salary for five years. For purposes of this problem, ignore payroll taxes in your computations. (Use Table 1.) (Round your intermediate calculations and final answers to the nearest whole dollar amount.)

Problem 13-61 Part a

a. Assume XYZ has a marginal tax rate of 21 percent for the foreseeable future and earns an after-tax rate of return of 13 percent on its assets. Joel Johnson, XYZ’s VP of finance, is attempting to determine what amount of deferred compensation XYZ should be willing to pay in five years that would make XYZ indifferent between paying the current salary of $10,400 and paying the deferred compensation. What amount of deferred compensation would accomplish this objective?

4. During 3 months of the year, current assets drop to $400,000. Its operating profit (EBIT) is expected to be $620,000. Its tax rate is 40 percent. Shares are valued at $10. Its capital structure is short-term financing at 3 percent and long-term financing of 50 percent equity, 50 percent debt at 6 percent. (Round the final answers to 2 decimal places.)

a. Calculate expected EPS if the firm is perfectly hedged. EPS $

b. Calculate expected EPS if Phu is a more aggressive with its capital structure and finances all current assets and 20 percent of its capital assets with short-term loans. EPS $

c. Recalculate a and b if short-term rates go to 8 percent while long-term rates remain the same. EPS Perfectly Hedged $ Capital structure $

Link Company acquired Tuna Inc. on January 1, 2017. On January 1, 2017 all of Tuna's assets and liabilities had a FVs = BV except for the following:

Land was undervalued by $30,000

Buildings were overvalued by $45,000 (20-yr remaining useful life)

Equipment was undervalued by $90,000 (5-yr remaining useful life)

In addition, Tuna had internally developed a customer list with an appraised value of $150,000 and a 10-yr remaining useful life. Link originally acquired Tuna at the FV of its net identifiable assets that equaled $1,050,000.

The following are selected accounts for Link's Company and Tuna Inc as of December 31, 2021 ( Link's investment in Tuna and equity in Tuna's income accounts have been omitted). Credit balances are indicated by parenthesis:

Determine the proper December 31, 2021 consolidated totals for each of the following accounts:

Revenues, COGS, Depreciation Exps, Amortization Exps, Buildings net, Equipment net, Customer list, Common Stock, APIC.

Show work please!

On 1/1/10, R-U Ready issued $100,000, 6.5%, 10-year bonds at an effective rate of 4.75%. Interest is paid annually on 12/31 of each year.

Edit:

Present the accounts and dollar amounts that would appear on comparative balance sheets and income statements for the years ending 12/31/16 and 12/31/15.

Atlas Enterprises Inc. manufactures elliptical exercise machines and treadmills. The products are produced in its Fabrication and Assembly production departments. In addition to production activities, several other activities are required to produce the two products. These activities and their associated activity rates are as follows: Activity Activity Rate Fabrication $28 per machine hour Assembly $20 per direct labor hour Setup $75 per setup Inspecting $30 per inspection Production scheduling $12 per production order Purchasing $ 8 per purchase order The activity-base usage quantities and units produced for each product were as follows: Activity Base Elliptical Machines Treadmill Machine hours 700 600 Direct labor hours 182 64 Setups 20 15 Inspections 10 16 Production orders 30 20 Purchase orders 56 75 Units produced 400 250 Use the activity rate and usage information to calculate the total activity cost and activity cost per unit for each product. If required round your answers to nearest cent. Total Activity Cost Activity Cost Per Unit Elliptical machines $ $ Treadmill

Capricorn Inc. is a private company reporting under ASPE. Its unadjusted trial balance at its fiscal year end, December 31, 2023 is shown below:

No new shares were issued or reacquired during 2023.

The following transactions have not yet been recorded for 2023:
1. On December 31, 2023, the board of directors declared a total cash dividend of $54,000
2. The bonds were issued at par with a contract interest rate of 4%. Interest is paid semi-annually on July 1 and January 1.
3. The income tax rate for 2023 is 20%

Required:
Using a blank MS Excel workbook, answer the following questions:

1. Prepare the adjusting entries required for December 31, 2023 (
2. Prepare the closing entries for December 31, 2023
3. Prepare an income statement for the year ended December 31, 2023
4. Prepare a statement of retained earnings for the year ended December 31, 2023
5. Prepare a classified balance sheet at December 31, 2023
6. Calculate Capricorn’s earnings per share for 2023.

Chris Guthrie was recently hired by S&S Air, Inc., to asset the company with its financial planning and to evaluate the company's performance. Chris graduated from college five years ago with a finance degree. He has been employed in the finance department of a Fortune 500 company since then.

S&S Air was founded 10 years ago by friends Mark Sexton and Todd Story. The company has manufactured and sold light airplanes over this period, and the company's products have received high reviews for safety and reliability. The company has a niche market in that is sells primarily to individuals who own and fly their own airplanes. The company has two models: the Birdie, which sells for $103,000, and the Eagle, which sells for $178,000.

Although the company manufactures aircraft, its operations are different from commercial aircraft companies. S&S Air builds aircraft to order. By using prefabricated parts, the company can complete the manufacture of an airplane in only five weeks. The company also receives a deposit on each order, as well as another partial payment before the order is complete. In contast, a commercial airplane may take one and one-half to two years to manufacture once the order is placed.

Mark and Todd have provided financial statements (which are to the left and below). In addition, Chris has gathered the industry ratios for the light airplance manufacturing industry (below).

Questions:

1. Using the financial statements provided above, calculate each of the ratios listed in the industry table for S&S Air (all 14 of them).

2. Mark and Todd agree a ratio analysis can provide a measure of the company's performance. They have chosen Boeing as an aspirant (comparison) company. Would you choose Boeing as an aspirant company? Why or why not? There are other aircraft manufacturers S&S Air could use as aspirant companies. Discuss whether it is appropriate to use any of the following companies: Bombadier, Embraer, Cirrus Aircraft Corporation, and Cessna Aircraft Company.

3. Compare the performance of S&S Air to the industry, using the 14 ratios you calculated in part 1 and the industry table provided. For each ratio, comment on whether it would be viewed as positive or negative (favorable or unfavorable) to the industry and why.

Discuss the differences between cash and accrual accounting. What is one significant advantage of accrual accounting over cash accounting?

JBeats produce and sell a product that has variable costs of $33 and a selling price of $68 . Its current sales total $204,000 per month. Fixed manufacturing costs total $25,000 per month and fixed selling and administrative costs total $17,000 per month. The company is considering a proposal that will increase the selling price by 5%, increase the fixed manufacturing costs by 5%, and increase the fixed selling and administrative costs by $3,500.

A. Compute JBeats’s current break-even point in units.

B. Compute JBeats’s margin of safety in dollars.

C. Compute JBeats’ss net income.

D. Compute JBeats’s breakeven point in units assuming they accept the proposal.

E. Compute JBeats’s net income assuming they accept the proposal and sales total 3,300.

Label and place your final answer for A-E at the top of the answer box. Then after the answer to E, label and show your work for each part of the question. Just show me numbers – that is usually enough for me to follow your logic.

Monty Company reported the following amounts in the stockholders’ equity section of its December 31, 2016, balance sheet.

During 2017, Monty took part in the following transactions concerning stockholders’ equity.

please explain detail

The main role of Management Accounting is: Planning Control and Decision making. Decision making is the selection of the correct cost element and take the right decision in the best interest of the organization be: -Make or buy decision -Accept or reject decision -Shut down decision -Limiting factor decision In relation to Decision making explain the above statement. Your assignment, should include limiting factor with several constraint and making use of linear programing technique).

Before Splish Corporation engages in the treasury stock transactions listed below, its general ledger reflects, among others, the following account balances (par value of its stock is $30 per share).

Record the treasury stock transactions (given below) under the cost method of handling treasury stock; use the FIFO method for purchase-sale purposes. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

please explain detail