On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company’s first month.
April 1 Nozomi invested $41,000 cash and computer equipment worth $35,000 in the company in exchange for common stock.
2 The company rented furnished office space by paying $2,100 cash for the first month’s (April) rent.
3 The company purchased $1,300 of office supplies for cash.
10 The company paid $2,800 cash for the premium on a 12-month insurance policy. Coverage begins on April 11.
14 The company paid $800 cash for two weeks' salaries earned by employees.
24 The company collected $13,500 cash for commissions earned.
28 The company paid $800 cash for two weeks' salaries earned by employees.
29 The company paid $300 cash for minor repairs to the company's computer.
30 The company paid $1,450 cash for this month's telephone bill.
30 The company paid $2,200 cash in dividends.
The company's chart of accounts follows:
| 101 | Cash | 405 | Commissions Earned |
| 106 | Accounts Receivable | 612 | Depreciation Expense—Computer Equip. |
| 124 | Office Supplies | 622 | Salaries Expense |
| 128 | Prepaid Insurance | 637 | Insurance Expense |
| 167 | Computer Equipment | 640 | Rent Expense |
| 168 | Accumulated Depreciation—Computer Equip. | 650 | Office Supplies Expense |
| 209 | Salaries Payable | 684 | Repairs Expense |
| 307 | Common Stock | 688 | Telephone Expense |
| 318 | Retained Earnings | 901 | Income Summary |
| 319 | Dividends | ||
Use the following information:
Required:
1. & 2. Prepare journal
entries to record the transactions for April and post them to the
ledger accounts in Requirement 6b. The company records prepaid and
unearned items in balance sheet accounts.
3. Using account balances from Requirement 6b,
prepare an unadjusted trial balance as of April 30.
4. Journalize the adjusting entries for the month
and prepare the adjusted trial balance.
5a. Prepare the income statement for the month of
April 30.
5b. Prepare the statement of retained earnings for
the month of April 30.
5c. Prepare the balance sheet at April 30.
6a. Prepare journal entries to close the temporary
accounts and then post to Requirement 6b.
6b. Post the journal entries to the ledger.
7. Prepare a post-closing trial balance.
In: Accounting
| April | 1 | Nozomi invested $37,000 cash and computer equipment worth $25,000 in the company in exchange for common stock. | ||
| 2 | The company rented furnished office space by paying $2,000 cash for the first month’s (April) rent. | |||
| 3 | The company purchased $1,300 of office supplies for cash. | |||
| 10 | The company paid $2,500 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. | |||
| 14 | The company paid $1,800 cash for two weeks' salaries earned by employees. | |||
| 24 | The company collected $13,500 cash for commissions earned. | |||
| 28 | The company paid $1,800 cash for two weeks' salaries earned by employees. | |||
| 29 | The company paid $450 cash for minor repairs to the company's computer. | |||
| 30 | The company paid $1,450 cash for this month's telephone bill. | |||
| 30 | The company paid $1,700 cash in dividends. |
The company's chart of accounts follows:
| 101 | Cash | 405 | Commissions Earned |
| 106 | Accounts Receivable | 612 | Depreciation Expense—Computer Equip. |
| 124 | Office Supplies | 622 | Salaries Expense |
| 128 | Prepaid Insurance | 637 | Insurance Expense |
| 167 | Computer Equipment | 640 | Rent Expense |
| 168 | Accumulated Depreciation—Computer Equip. | 650 | Office Supplies Expense |
| 209 | Salaries Payable | 684 | Repairs Expense |
| 307 | Common Stock | 688 | Telephone Expense |
| 318 | Retained Earnings | 901 | Income Summary |
| 319 | Dividends | ||
Use the following information:
Required:
1. & 2. Prepare journal
entries to record the transactions for April and post them to the
ledger accounts in Requirement 6b. The company records prepaid and
unearned items in balance sheet accounts.
3. Using account balances from Requirement 6b,
prepare an unadjusted trial balance as of April 30.
4. Journalize the adjusting entries for the month
and prepare the adjusted trial balance.
5a. Prepare the income statement for the month of
April 30.
5b. Prepare the statement of retained earnings for
the month of April 30.
5c. Prepare the balance sheet at April 30.
6a. Prepare journal entries to close the temporary
accounts and then post to Requirement 6b.
6b. Post the journal entries to the ledger.
7. Prepare a post-closing trial balance.
In: Accounting
Health insurance and privacy A 21 year-old Japanese woman who is a university student has been considering going to see a psychiatrist. Since she has national health insurance, she has to pay the hospital only 30% of the total medical cost, which she thinks she can afford. What makes her pause, however, is that if she uses the national health insurance her hospital visits will be reported to her father through the company he is working for, which she does not want to happen. Details of treatment or prescribed medicines are not reported but because the name of hospital/clinic she attends will be reported her family can guess her conditions. This means she cannot hide the fact that she sees a psychiatrist and that will make them worry. This is because she is a dependent family member of her father in the national health insurance system until she starts to work after graduating from the university. Another option is that she pays all the cost by herself without using the national health insurance but then this is too costly and she cannot go to see a psychiatrist. She has been wondering what to do but she really does not want to let her family know about this and be worried about her.
In this case, what ethical theory can be applied. Does she have any privacy or confidentiality ?
In: Psychology
61. Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of $8,338. The FICA tax for social security is 6.2% and the FICA tax rate for Medicare is 1.45%. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1,383.47. What is the total amount of taxes withheld from the Portia's earnings? (Round your intermediate calculations to two decimal places.)
61B) During the first week of January, an employee works 45 hours. For this company, workers earn 150% of their regular rate for hours in excess of 40 per week. Her pay rate is $30 per hour, and her wages are subject to no deductions other than FICA Social Security, FICA Medicare, and federal income taxes. The tax rate for Social Security is 6.2% of the first $118,500 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee’s pay. The employee has $95 in federal income taxes withheld. What is the amount of this employee’s gross pay for the first week of January?
In: Accounting
) What are the roles of diplomats? According to the assigned video, what are the challenges and the rewards of being a diplomat? How has the concept of US diplomacy changed over time? Who are George Kennan and Richard Holbrook and why are they important when discussing US diplomacy?
In: Economics
On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company’s first month.
|
April |
1 |
Nozomi invested $34,000 cash and computer equipment worth $25,000 in the company. |
||
|
2 |
The company rented furnished office space by paying $1,600 cash for the first month’s (April) rent. |
|||
|
3 |
The company purchased $1,700 of office supplies for cash. |
|||
|
10 |
The company paid $2,900 cash for the premium on a 12-month insurance policy. Coverage begins on April 11. |
|||
|
14 |
The company paid $1,200 cash for two weeks' salaries earned by employees. |
|||
|
24 |
The company collected $23,500 cash on commissions from airlines on tickets obtained for customers. |
|||
|
28 |
The company paid $1,200 cash for two weeks' salaries earned by employees. |
|||
|
29 |
The company paid $350 cash for minor repairs to the company's computer. |
|||
|
30 |
The company paid $1,500 cash for this month's telephone bill. |
|||
|
30 |
Nozomi withdrew $1,500 cash from the company for personal use. |
The company's chart of accounts follows:
|
101 |
Cash |
405 |
Commissions Earned |
|
106 |
Accounts Receivable |
612 |
Depreciation Expense—Computer Equip. |
|
124 |
Office Supplies |
622 |
Salaries Expense |
|
128 |
Prepaid Insurance |
637 |
Insurance Expense |
|
167 |
Computer Equipment |
640 |
Rent Expense |
|
168 |
Accumulated Depreciation—Computer Equip. |
650 |
Office Supplies Expense |
|
209 |
Salaries Payable |
684 |
Repairs Expense |
|
301 |
J. Nozomi, Capital |
688 |
Telephone Expense |
|
302 |
J. Nozomi, Withdrawals |
901 |
Income Summary |
Use the following information:
Two-thirds (or $161) of one month’s insurance coverage has expired.
At the end of the month, $500 of office supplies are still available.
This month’s depreciation on the computer equipment is $400.
Employees earned $480 of unpaid and unrecorded salaries as of month-end.
The company earned $2,050 of commissions that are not yet billed at month-end.
Required:
1. & 2. Prepare journal
entries to record the transactions for April and post them to the
ledger accounts in Requirement 6b. The company records prepaid and
unearned items in balance sheet accounts.
3. Using account balances from Requirement 6b,
prepare an unadjusted trial balance as of April 30.
4. Journalize the adjusting entries for the month
and prepare the adjusted trial balance.
5a. Prepare the income statement for the month of
April 30, 2017.
5b. Prepare the statement of owner's equity for
the month of April 30, 2017.
5c. Prepare the balance sheet at April 30,
2017.
6a. Prepare journal entries to close the temporary
accounts and then post to Requirement 6b.
6b. Post the journal entries to the ledger.
7. Prepare a post-closing trial balance.
In: Accounting
Business Analytics -MBA
What is machine learning? How does it differ from statistically learning? Give an example of each.
Are both still relevant and important when making business decisions? Explain your answer.
Write your responses in detail with EXAMPLES. Be sure to identify the source of your example in your posting. Your initial post should be of minimum of 300 words.
In: Computer Science
Business Analytics -MBA What is machine learning? How does it differ from statistically learning? Give an example of each. Are both still relevant and important when making business decisions? Explain your answer. Write your responses in detail with EXAMPLES. Be sure to identify the source of your example in your posting. Your initial post should be of minimum of 300 words.
In: Economics
Style Interview for a Company's Newsletter Instructions Assignment Files Grading Resources: The Art and Science of Leadership, Ch. 4 & Ch. 6 and Leadership Newsletter Template Mat Lead Leade Select someone in a leadership postion at your organization or at a local company where you might seek employment. This individual could be a director, manager, supervisor, or CEO of the organization. News The A The Ar Write a 1,050- to 1,400-word profile of the individual that you interviewed for your company's newsletter, and include the following Identify the individual and their position within the company, and briefly describe the organization Interpret the individuars leadership style based on the Five-Factor personality model. and offer one or more examples of the management and leadership roles of this . individual . Explain one incident where this individual had to solve a difficult problem or situation because things did not go as planned . Describe the lessons that shehe leamed from being able to problem solve, even when what sheme had been taught did not work Format your profile in the form of a newsletter (the final format may vary depending upon the company's style. please feel free to use either the provided template or to check the Internet of Microsoft's Word for additional newsletter templates)
I know today is Memorial day, but I need some help today from someone please.
In: Operations Management
Answer to the questions based on your knowledge about positive psychology and happiness theory (PERMA-model; P+E+M) plus the character strengths model.
As people living in the UAE we are very fortunate to live a safe life. We regularly however, hear and see human tragedies unfold around us, which have the capacity to significantly move us. Unfortunately, often society moves too fast to allow us to mindfully reflect and remember those who are suffering. What would happen if we donated some of our time and prayers for those in need?
In: Psychology