1. The Green Cab Company has a taxi waiting at each of four cabstands in Evanston, Illinois. Four customers have called and requested service. The distances, in miles, from the waiting taxis to the customers are given in the following table. Find the optimal assignment of taxis to customers so as to minimize total driving distances to the customers. Please show all steps/work
|
Cab site |
Customer |
|||
|
A |
B |
C |
D |
|
|
Stand 1 |
8 |
3 |
4 |
8 |
|
Stand 2 |
5 |
4 |
6 |
7 |
|
Stand 3 |
7 |
7 |
9 |
6 |
|
Stand 4 |
8 |
6 |
6 |
4 |
In: Operations Management
In: Accounting
Comparative financial statements for Weaver Company follow:
|
Weaver Company Comparative Balance Sheet at December 31 |
||||||
| This Year | Last Year | |||||
| Assets | ||||||
| Cash | $ | 9 | $ | 15 | ||
| Accounts receivable | 340 | 240 | ||||
| Inventory | 125 | 175 | ||||
| Prepaid expenses | 10 | 6 | ||||
| Total current assets | 484 | 436 | ||||
| Property, plant, and equipment | 610 | 470 | ||||
| Less accumulated depreciation | 93 | 85 | ||||
| Net property, plant, and equipment | 517 | 385 | ||||
| Long-term investments | 16 | 19 | ||||
| Total assets | $ | 1,017 | $ | 840 | ||
| Liabilities and Stockholders' Equity | ||||||
| Accounts payable | $ | 310 | $ | 230 | ||
| Accrued liabilities | 60 | 72 | ||||
| Income taxes payable | 40 | 34 | ||||
| Total current liabilities | 410 | 336 | ||||
| Bonds payable | 290 | 180 | ||||
| Total liabilities | 700 | 516 | ||||
| Common stock | 210 | 250 | ||||
| Retained earnings | 107 | 74 | ||||
| Total stockholders’ equity | 317 | 324 | ||||
| Total liabilities and stockholders' equity | $ | 1,017 | $ | 840 | ||
|
Weaver Company Income Statement For This Year Ended December 31 |
||||||
| Sales | $ | 800 | ||||
| Cost of goods sold | 500 | |||||
| Gross margin | 300 | |||||
| Selling and administrative expenses | 213 | |||||
| Net operating income | 87 | |||||
| Nonoperating items: | ||||||
| Gain on sale of investments | $ | 7 | ||||
| Loss on sale of equipment | (4 | ) | 3 | |||
| Income before taxes | 90 | |||||
| Income taxes | 27 | |||||
| Net income | $ | 63 | ||||
During this year, Weaver sold some equipment for $20 that had cost $40 and on which there was accumulated depreciation of $16. In addition, the company sold long-term investments for $10 that had cost $3 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $40 of its own stock. This year Weaver did not retire any bonds.
2. Using the information in (1) above, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flows for this year. (List any deduction in cash and cash outflows as negative amounts.)
In: Accounting
Comparative financial statements for Weaver Company follow:
| Weaver Company Comparative Balance Sheet at December 31 |
||||||
| This Year | Last Year | |||||
| Assets | ||||||
| Cash | $ | 9 | $ | 15 | ||
| Accounts receivable | 340 | 240 | ||||
| Inventory | 125 | 175 | ||||
| Prepaid expenses | 10 | 6 | ||||
| Total current assets | 484 | 436 | ||||
| Property, plant, and equipment | 610 | 470 | ||||
| Less accumulated depreciation | 93 | 85 | ||||
| Net property, plant, and equipment | 517 | 385 | ||||
| Long-term investments | 16 | 19 | ||||
| Total assets | $ | 1,017 | $ | 840 | ||
| Liabilities and Stockholders' Equity | ||||||
| Accounts payable | $ | 310 | $ | 230 | ||
| Accrued liabilities | 60 | 72 | ||||
| Income taxes payable | 40 | 34 | ||||
| Total current liabilities | 410 | 336 | ||||
| Bonds payable | 290 | 180 | ||||
| Total liabilities | 700 | 516 | ||||
| Common stock | 210 | 250 | ||||
| Retained earnings | 107 | 74 | ||||
| Total stockholders’ equity | 317 | 324 | ||||
| Total liabilities and stockholders' equity | $ | 1,017 | $ | 840 | ||
| Weaver Company Income Statement For This Year Ended December 31 |
||||||
| Sales | $ | 800 | ||||
| Cost of goods sold | 500 | |||||
| Gross margin | 300 | |||||
| Selling and administrative expenses | 213 | |||||
| Net operating income | 87 | |||||
| Nonoperating items: | ||||||
| Gain on sale of investments | $ | 7 | ||||
| Loss on sale of equipment | (4 | ) | 3 | |||
| Income before taxes | 90 | |||||
| Income taxes | 27 | |||||
| Net income | $ | 63 | ||||
During this year, Weaver sold some equipment for $20 that had cost $40 and on which there was accumulated depreciation of $16. In addition, the company sold long-term investments for $10 that had cost $3 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $40 of its own stock. This year Weaver did not retire any bonds.
Required:
1. Using the indirect method, determine the net cash provided by/used in operating activities for this year. (List any deduction in cash outflows as negative amounts.)
In: Accounting
CASE-STUDY
Jessica Silliman
Rachel Bailey was quickly hired out of Santa Clara University during the dot-com boom to a company of 100 employees that ran an innovative social networking website in Silicon Valley. She was immediately put in charge of email communication to customers-both existing and potential.
The Internet was quite new to everyone and online communication (via email) had little corporate regulation or set social protocol. Privacy policies were yet to be established. With thousands of individuals discovering the Internet everyday, business was booming for the small Silicon Valley firm.
Rachel handled all online contact with existing users and was asked to market to these existing online community members via email. But she struggled with finding a balance of the right amount of marketing. With Internet competition growing everyday within the social networking websites, these users had plenty of alternatives. And flooding their email inboxes, she thought, wasn't the best way to attract them.
Unfortunately, Rachel's boss had a different approach. The Vice President of Marketing wanted results-he wanted existing customers to upgrade their networking packages and follow through on advertisements. He told Rachel to be as aggressive as possible with her email campaigns. But at the same time, Rachel spoke with coworkers who didn't want to work for a company known for its email spam. They prided themselves on working at an organization that respected its users and didn't abuse the ease of email communication-even within the competitive market.
Rachel found subtle alternatives to the mass emails. She developed links on the company website to advertisements, but she wasn' t getting the results her boss demanded.
One day when Rachel arrived at the office, her boss said he had a brilliant idea. He said that everybody knew someone named Cindy Anderson, so they could send emails to their users from that name to trick them into opening the email, which would display a link to their website.
Rachel was incensed with her boss's idea. "A lot of people are very casual with the truth," she said.
Rachel felt very uncomfortable with the thought of implementing what she considered to be her boss's deceptive idea.
"People trust you with their email addresses," said Rachel. "You have to be responsible and not take advantage of that access."
She worried that existing customers would begin to resent the company and unsubscribe. But she also had a commitment to drawing in as many new customers as she could-and her more subtle tactics weren't working.
Rachel made the decision to stand up to her boss. The following week she told him that his idea was deceitful and would cause customers to lose trust and faith in the company. In the end, it wouldn't be a financially viable solution to their problem.
Rachel proved to be convincing. Her boss took her advice and began to realize that it was a bad idea.
"In the end, we had happy customers and our company gained more value in the highly competitive market," said Rachel.
Discussion Questions:
Jessica Silliman was a 2006-07 Hackworth Fellow at The Markkula Center for Applied Ethics.
In: Economics
Summary:
Read Deceitful Spammer or Marketing Genius? and complete the questions at the end of the case study.
Jessica Silliman
Rachel Bailey was quickly hired out of Santa Clara University during the dot-com boom to a company of 100 employees that ran an innovative social networking website in Silicon Valley. She was immediately put in charge of email communication to customers-both existing and potential.
The Internet was quite new to everyone and online communication (via email) had little corporate regulation or set social protocol. Privacy policies were yet to be established. With thousands of individuals discovering the Internet everyday, business was booming for the small Silicon Valley firm.
Rachel handled all online contact with existing users and was asked to market to these existing online community members via email. But she struggled with finding a balance of the right amount of marketing. With Internet competition growing everyday within the social networking websites, these users had plenty of alternatives. And flooding their email inboxes, she thought, wasn't the best way to attract them.
Unfortunately, Rachel's boss had a different approach. The Vice President of Marketing wanted results-he wanted existing customers to upgrade their networking packages and follow through on advertisements. He told Rachel to be as aggressive as possible with her email campaigns. But at the same time, Rachel spoke with coworkers who didn't want to work for a company known for its email spam. They prided themselves on working at an organization that respected its users and didn't abuse the ease of email communication-even within the competitive market.
Rachel found subtle alternatives to the mass emails. She developed links on the company website to advertisements, but she wasn' t getting the results her boss demanded.
One day when Rachel arrived at the office, her boss said he had a brilliant idea. He said that everybody knew someone named Cindy Anderson, so they could send emails to their users from that name to trick them into opening the email, which would display a link to their website.
Rachel was incensed with her boss's idea. "A lot of people are very casual with the truth," she said.
Rachel felt very uncomfortable with the thought of implementing what she considered to be her boss's deceptive idea.
"People trust you with their email addresses," said Rachel. "You have to be responsible and not take advantage of that access."
She worried that existing customers would begin to resent the company and unsubscribe. But she also had a commitment to drawing in as many new customers as she could-and her more subtle tactics weren't working.
Rachel made the decision to stand up to her boss. The following week she told him that his idea was deceitful and would cause customers to lose trust and faith in the company. In the end, it wouldn't be a financially viable solution to their problem.
Rachel proved to be convincing. Her boss took her advice and began to realize that it was a bad idea.
"In the end, we had happy customers and our company gained more value in the highly competitive market," said Rachel.
Discussion Questions: NO PLAGIARISM PLEASE
Jessica Silliman was a 2006-07 Hackworth Fellow at The Markkula Center for Applied Ethics.
June 2007
In: Operations Management
Zenith Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Retained Earnings; Dividends; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.
| March 1. | Paid rent for the month, $3,700. |
| 3. | Paid advertising expense, $2,360. |
| 5. | Paid cash for supplies, $1,010. |
| 6. | Purchased office equipment on account, $15,500. |
| 10. | Received cash from customers on account, $5,060. |
| 15. | Paid creditor on account, $1,480. |
| 27. | Paid cash for miscellaneous expenses, $640. |
| 30. | Paid telephone bill for the month, $240. |
| 31. | Fees earned and billed to customers for the month, $33,700. |
| 31. | Paid electricity bill for the month, $400. |
| 31. | Paid dividends, $2,600. |
Journalize the selected transactions for March 2018.
In: Accounting
The Smith Engineering Company began operations on December 1, 2017. The unadjusted trial balance of the Smith Engineering Company as of December 31, 2017 is found on the trial balance tab. The following information is required to prepare the necessary adjusting entries for the Smith Engineering Company found in chapter 3.
1) The balance in Prepaid insurance represents a 24-month policy that went into effect on December 1, 2017. Review the unadjusted balance in Prepaid insurance, and prepare the necessary adjusting entry, if any.
2) Based on a physical count, supplies on hand total $3,300. Review the unadjusted balance in Supplies, and prepare the necessary adjusting entry, if any.
3) The equipment is expected to have a 4-year useful life, and be worth about $9,000 at the end of four years. Review the unadjusted balance in Accumulated depreciation, and prepare the necessary adjusting entry, if any.
4) On December 26, the client paid a $3,600 60-day fee in advance, covering December 27 to February 24. Review the unadjusted balance in Unearned Consulting Revenue, and prepare the necessary adjusting entry, if any.
5) Smith Engineering's sole employee earns $80 per day for a five-day workweek beginning on Monday and ending on Friday. The employee was last paid on Friday, December 26. Review the unadjusted balance in Salaries payable, and prepare the necessary adjusting entry, if any.
6) In the second week of December, Smith Engineering agreed to provide 30 days of consulting services to a local fitness club for a fixed fee of $2,940. The terms of the initial agreement call for Smith Engineering to provide services from December 12, 2017, through January 10, 2018, or 30 days of service. The club agrees to pay Smith Engineering $2,940 on January 10, 2018, when the service period is complete. Review the unadjusted balance in Consulting revenue, and prepare the necessary adjusting entry, if any.
Prepare the required adjusting and closing entries for the Smith Engineering Company.
Prepare a general journal, income statement, and balance sheet.
Unadjusted
| ~a(39)~ | ||
| Trial Balance | ||
| December 31, 2017 | ||
| Account Title | Debit | Credit |
|---|---|---|
| Cash | 13,525 | |
| Supplies | 4,400 | |
| Prepaid insurance | 3,000 | |
| Equipment | 25,800 | |
| Accounts payable | 8,200 | |
| Unearned consulting revenue | 3,600 | |
| S. Smith, Capital | 32,000 | |
| S. Smith, Withdrawals | 800 | |
| Consulting revenue | 6,100 | |
| Rental revenue | 350 | |
| Salaries expense | 1,360 | |
| Rent expense | 1,050 | |
| Utilities expense | 315 | |
| Total | 50,250 | 50,250 |
In: Accounting
The Smith Engineering Company began operations on December 1, 2017. The unadjusted trial balance of the Smith Engineering Company as of December 31, 2017 is found on the trial balance tab. The following information is required to prepare the necessary adjusting entries for the Smith Engineering Company found in chapter 3.
1) The balance in Prepaid insurance represents a 24-month policy that went into effect on December 1, 2017. Review the unadjusted balance in Prepaid insurance, and prepare the necessary adjusting entry, if any.
2) Based on a physical count, supplies on hand total $3,300. Review the unadjusted balance in Supplies, and prepare the necessary adjusting entry, if any.
3) The equipment is expected to have a 4-year useful life, and be worth about $9,000 at the end of four years. Review the unadjusted balance in Accumulated depreciation, and prepare the necessary adjusting entry, if any.
4) On December 26, the client paid a $3,600 60-day fee in advance, covering December 27 to February 24. Review the unadjusted balance in Unearned Consulting Revenue, and prepare the necessary adjusting entry, if any.
5) Smith Engineering's sole employee earns $80 per day for a five-day workweek beginning on Monday and ending on Friday. The employee was last paid on Friday, December 26. Review the unadjusted balance in Salaries payable, and prepare the necessary adjusting entry, if any.
6) In the second week of December, Smith Engineering agreed to provide 30 days of consulting services to a local fitness club for a fixed fee of $2,940. The terms of the initial agreement call for Smith Engineering to provide services from December 12, 2017, through January 10, 2018, or 30 days of service. The club agrees to pay Smith Engineering $2,940 on January 10, 2018, when the service period is complete. Review the unadjusted balance in Consulting revenue, and prepare the necessary adjusting entry, if any.
Prepare the required adjusting and closing entries for the Smith Engineering Company.
Prepare a general journal, income statement, and balance sheet.
Unadjusted
| Smith Engineering | ||
| Trial Balance | ||
| December 31, 2017 | ||
| Account Title | Debit | Credit |
|---|---|---|
| Cash | 13,525 | |
| Supplies | 4,400 | |
| Prepaid insurance | 3,000 | |
| Equipment | 25,800 | |
| Accounts payable | 8,200 | |
| Unearned consulting revenue | 3,600 | |
| S. Smith, Capital | 32,000 | |
| S. Smith, Withdrawals | 800 | |
| Consulting revenue | 6,100 | |
| Rental revenue | 350 | |
| Salaries expense | 1,360 | |
| Rent expense | 1,050 | |
| Utilities expense | 315 | |
| Total | 50,250 | 50,250 |
In: Accounting
In: Operations Management