Income from non-profit, non-business activities is
In: Finance
In: Finance
Prepare an internal email to your Audit Senior (the supervisor for a first-year auditor) using proper grammar, spelling, and format. Your email is a reply to their request for an update of the Zimmer Audit. You should let them know how far along you are, any issues you are encountering, and when you expect completion of the Accounts Receivable area you were assigned.
- Review Accounts Receivable and Google information on what
auditing Accounts Receivable entails to.
- Write 1-3 paragraphs to your Audit Senior.
- Use a business writing style.
- An internal email is more informal and you need to be short,
clear, concise, and to the point.
Use the following format:
Date:
From:
To:
Subject: Reply to your request for update for the Zimmer Audit Accounts Receivable task.
In: Accounting
Airlines are concerned about the ages of their airplanes. Forty commercial airplanes randomly selected by the airline from the GLEN aviation company have the ages given below. If the true median age of the airplanes is more than 15 years old, the airline will be forced to update half of their airplanes at a great expense. Conduct the appropriate test using an significant value = 0.01. Does the airline need to update their airplanes? Do not assume normality. 3.2 22.6 23.1 16.9 0.4 6.6 15.5 22.8 26.3 8.1 15.6 17.0 21.3 15.2 18.7 11.5 4.9 5.3 5.8 20.6 23.1 24.7 3.6 12.4 27.3 22.5 3.9 7.0 16.2 24.1 0.1 2.1 7.7 10.5 23.4 0.7 15.8 6.3 16.9 16.8
In: Statistics and Probability
January 1, 2016 SOS company invested 2,000,000 $ for 80% of RAT company, in that date the fair value of RAT is equal to its book value except inventories was undervalued 40,000, equipment ( 5 years ) undervalued 60,000 ,6% 10 years bonds overvalued 30,000 and unrecorded patent 80,000 estimated 20 years’ useful life. The owner’s equity was $1,200,000 shares, 600,000 premiums and 400,000 as retained earnings, the following are selective information about the parent and its subsidiary:
1- The subsidiary reported net income for 2016was$100,000 and declared and paid $20000 dividend.
2- during 2017 the parent sold a land cost 200,000 for $220,000. The reported income for the subsidiary was 90,000 and 10,000 dividend
3- in 1/1/ 2018 the subsidiary sold an equipment for parent for 120,000 and net book value 110,000, five years remaining use life and during the year the parent sold goods for 250,000 including 25% markup, the subsidiary ending inventory include 60000$ inventory from parent, the subsidiary net income of 2018 was 120,000 and$30,000 6-
4- During 2019 the subsidiary sold goods with mark up 20% at cost 300,000, 25% of this inventory still in hand in 31/12/2019, the subsidiary sold the land that purchased from parent for 250,000. The subsidiary reported net income was 180,000 and 30,000 dividends was paid.
5- during 2020 the subsidiary sold goods with mark up 20% at cost 400,000, $96,000 at selling price of this goods still in hand in 31/12/2020. The subsidiary reported net income was 360,000 and 80,000 dividends was paid.
6- The parent retained earnings in 31/12/2015 1,800,000 $. Dividends and income without income from subsidiary during the years was: 2016 (income 500,000$ dividend 150,000), 2017 (income 300,000$, dividend 80,000), 2018 ( income200,000$), 2019 (350,000$ , dividend 50,000), 2020 ( income100,000$)
Required:
1- Prepare all the elimination entries during the years from 2016 to 2020.
2- Journalize the income and dividend under equity methods in parent’s book for the year 2020.
3- Complete the following table:
|
2016 |
2017 |
2018 |
2019 |
2020 |
|
|
Controlling interest share |
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Consolidated income |
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Consolidated retained earning |
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Non-controlling share |
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Non-controlling of interest |
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investment |
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Unamortized amount |
In: Accounting
Ive been tasked with creating a cash flow statement for the below balance sheet item and profit and loss items, I've finished it on my own but the operating activities im not too sure on;
Balance sheet;
ASSETS 2018 2019
cash 33400 25000
A/C Rec 37000 61060
Consultation service Receivable 1000 2000
Inventory 102650 121900
Prepaid Insurance 9500 6500
Land 107000 84500
Property, plant & equipment 205000 310000
Accum Dep'n - PP&E (40000) (46500)
LIABILITIES & EQUITY
A/c paybale 48280 62700
interest pay 18800 12500
income tax pay 1000 2000
other expenses pay 13500 15000
debentures pay 246870 275000
share cap 78100 135600
retained earnings 49000 61660
PROFIT & LOSS
sales 197000
less: cost of sales (99460)
GROSS profit 97540
add: other income
consultation services receivable 20500
gain on sale of plant & equipment 5000 25500
123040
less: expenses
interest expense 2940
income tax exp 7270
other operating exp 50170 (60380)
Profit 62660
property plant and equipment costing 141000 was purchased during
year
PP&E sold for 36000 during year
35500 dep'n expense on PP&E durong year
if someone could help with the workings for operating activities and investing activities that would be great, also unsure if im to add consultation services receivable to accounts receivable aswell. im using T-accounts for my workings. thanks
In: Accounting
How could you perform a complete sequence of a genome? What experiments would be performed? How can you create an entire database with the complete genome sequence?
In: Biology
What are the global employment trends for the Product Management area? Describe what you learned from this research and cite the source: (Author, Year, URL or library database)
In: Operations Management
Identify an automated tool that aids in database security auditing.
In: Operations Management
What four main types of actions involve databases
What are the responsibilities of the DBA and the database designers?
What is the difference between controlled and uncontrolled redundancy? Illustrate with examples
In: Computer Science