Serial Problem Business Solutions LO P1, P2, P3, P4, P5, P6
After the success of the company’s first two months, Santana Rey continues to operate Business Solutions. The November 30, 2019, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2019) follows.
|
No. |
Account Title |
Debit |
Credit |
|||
|
101 |
Cash |
$ |
38,564 |
|||
|
106 |
Accounts receivable |
12,818 |
||||
|
126 |
Computer supplies |
2,645 |
||||
|
128 |
Prepaid insurance |
1,860 |
||||
|
131 |
Prepaid rent |
3,200 |
||||
|
163 |
Office equipment |
8,700 |
||||
|
164 |
Accumulated depreciation—Office equipment |
$ |
0 |
|||
|
167 |
Computer equipment |
22,400 |
||||
|
168 |
Accumulated depreciation—Computer equipment |
0 |
||||
|
201 |
Accounts payable |
0 |
||||
|
210 |
Wages payable |
0 |
||||
|
236 |
Unearned computer services revenue |
0 |
||||
|
307 |
Common stock |
68,000 |
||||
|
318 |
Retained earnings |
0 |
||||
|
319 |
Dividends |
6,500 |
||||
|
403 |
Computer services revenue |
34,064 |
||||
|
612 |
Depreciation expense—Office equipment |
0 |
||||
|
613 |
Depreciation expense—Computer equipment |
0 |
||||
|
623 |
Wages expense |
2,150 |
||||
|
637 |
Insurance expense |
0 |
||||
|
640 |
Rent expense |
0 |
||||
|
652 |
Computer supplies expense |
0 |
||||
|
655 |
Advertising expense |
1,688 |
||||
|
676 |
Mileage expense |
644 |
||||
|
677 |
Miscellaneous expenses |
170 |
||||
|
684 |
Repairs expense—Computer |
725 |
||||
|
Totals |
$ |
102,064 |
$ |
102,064 |
||
Business Solutions had the following transactions and events in December 2019.
|
Dec. |
2 |
Paid $995 cash to Hillside Mall for Business Solutions’ share of mall advertising costs. |
|
|
3 |
Paid $460 cash for minor repairs to the company’s computer. |
||
|
4 |
Received $4,850 cash from Alex’s Engineering Co. for the receivable from November. |
||
|
10 |
Paid cash to Lyn Addie for six days of work at the rate of $110 per day. |
||
|
14 |
Notified by Alex’s Engineering Co. that Business Solutions’ bid of $7,700 on a proposed project has been accepted. Alex’s paid a $2,000 cash advance to Business Solutions. |
||
|
15 |
Purchased $1,300 of computer supplies on credit from Harris Office Products. |
||
|
16 |
Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8. |
||
|
20 |
Completed a project for Liu Corporation and received $6,525 cash. |
||
|
22–26 |
Took the week off for the holidays. |
||
|
28 |
Received $3,200 cash from Gomez Co. on its receivable. |
||
|
29 |
Reimbursed S. Rey for business automobile mileage (500 miles at $0.32 per mile). |
||
|
31 |
The company paid $1,200 cash in dividends. |
||
The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company’s first three months.
The December 31 inventory count of computer supplies shows $630 still available.
Three months have expired since the 12-month insurance premium was paid in advance.
As of December 31, Lyn Addie has not been paid for four days of work at $110 per day.
The computer system, acquired on October 1, is expected to have a four-year life with no salvage value.
The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value.
Three of the four months' prepaid rent have expired.
Required:
3. Prepare an adjusted trial balance as of December 31, 2019. 4. Prepare an income statement for the three months ended December 31, 2019. 5. Prepare a statement of retained earnings for the three months ended December 31, 2019. 6. Prepare a balance sheet as of December 31, 2019. 7. Record the necessary closing entries as of December 31, 2019 and then post the closing entries to the general ledger in Requirement 2B. 8. Prepare a post-closing trial balance as of December 31, 2019.
In: Accounting
After the success of the company’s first two months, Santana Rey continues to operate Business Solutions. The November 30, 2019, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2019) follows.
| No. | Account Title | Debit | Credit | |||
| 101 | Cash | $ | 38,664 | |||
| 106 | Accounts receivable | 13,218 | ||||
| 126 | Computer supplies | 2,645 | ||||
| 128 | Prepaid insurance | 1,920 | ||||
| 131 | Prepaid rent | 3,300 | ||||
| 163 | Office equipment | 8,700 | ||||
| 164 | Accumulated depreciation—Office equipment | $ | 0 | |||
| 167 | Computer equipment | 21,600 | ||||
| 168 | Accumulated depreciation—Computer equipment | 0 | ||||
| 201 | Accounts payable | 0 | ||||
| 210 | Wages payable | 0 | ||||
| 236 | Unearned computer services revenue | 0 | ||||
| 301 | S. Rey, Capital | 69,000 | ||||
| 302 | S. Rey, Withdrawals | 6,000 | ||||
| 403 | Computer services revenue | 32,544 | ||||
| 612 | Depreciation expense—Office equipment | 0 | ||||
| 613 | Depreciation expense—Computer equipment | 0 | ||||
| 623 | Wages expense | 2,150 | ||||
| 637 | Insurance expense | 0 | ||||
| 640 | Rent expense | 0 | ||||
| 652 | Computer supplies expense | 0 | ||||
| 655 | Advertising expense | 1,658 | ||||
| 676 | Mileage expense | 674 | ||||
| 677 | Miscellaneous expenses | 240 | ||||
| 684 | Repairs expense—Computer | 775 | ||||
| Totals | $ | 101,544 | $ | 101,544 | ||
Business Solutions had the following transactions and events in December 2019.
| Dec. | 2 | Paid $960 cash to Hillside Mall for Business Solutions’ share of mall advertising costs. | |
| 3 | Paid $420 cash for minor repairs to the company’s computer. | ||
| 4 | Received $3,950 cash from Alex’s Engineering Co. for the receivable from November. | ||
| 10 | Paid cash to Lyn Addie for six days of work at the rate of $115 per day. | ||
| 14 | Notified by Alex’s Engineering Co. that Business Solutions’ bid of $7,400 on a proposed project has been accepted. Alex’s paid a $1,600 cash advance to Business Solutions. | ||
| 15 | Purchased $1,700 of computer supplies on credit from Harris Office Products. | ||
| 16 | Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8. | ||
| 20 | Completed a project for Liu Corporation and received $5,825 cash. | ||
| 22–26 | Took the week off for the holidays. | ||
| 28 | Received $3,900 cash from Gomez Co. on its receivable. | ||
| 29 | Reimbursed S. Rey for business automobile mileage (500 miles at $0.28 per mile). | ||
| 31 | S. Rey withdrew $1,400 cash from the company for personal use. | ||
The following additional facts are collected for use in making
adjusting entries prior to preparing financial statements for the
company’s first three months.
Required:
1. Prepare journal entries to record each of the
December transactions and events for Business Solutions.
2-a. Prepare adjusting entries to reflect
a through f.
2-b. Post the journal entries to record each of
the December transactions, adjusting entries to the accounts in the
ledger.
3. Prepare an adjusted trial balance as of
December 31, 2019.
4. Prepare an income statement for the three
months ended December 31, 2019.
5. Prepare a statement of owner’s equity for the
three months ended December 31, 2019.
6. Prepare a balance sheet as of December 31,
2019.
In: Accounting
After the success of the company’s first two months, Santana Rey continues to operate Business Solutions. The November 30, 2019, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2019) follows.
| No. | Account Title | Debit | Credit | |||
| 101 | Cash | $ | 38,664 | |||
| 106 | Accounts receivable | 13,218 | ||||
| 126 | Computer supplies | 2,645 | ||||
| 128 | Prepaid insurance | 1,920 | ||||
| 131 | Prepaid rent | 3,300 | ||||
| 163 | Office equipment | 8,700 | ||||
| 164 | Accumulated depreciation—Office equipment | $ | 0 | |||
| 167 | Computer equipment | 21,600 | ||||
| 168 | Accumulated depreciation—Computer equipment | 0 | ||||
| 201 | Accounts payable | 0 | ||||
| 210 | Wages payable | 0 | ||||
| 236 | Unearned computer services revenue | 0 | ||||
| 301 | S. Rey, Capital | 69,000 | ||||
| 302 | S. Rey, Withdrawals | 6,000 | ||||
| 403 | Computer services revenue | 32,544 | ||||
| 612 | Depreciation expense—Office equipment | 0 | ||||
| 613 | Depreciation expense—Computer equipment | 0 | ||||
| 623 | Wages expense | 2,150 | ||||
| 637 | Insurance expense | 0 | ||||
| 640 | Rent expense | 0 | ||||
| 652 | Computer supplies expense | 0 | ||||
| 655 | Advertising expense | 1,658 | ||||
| 676 | Mileage expense | 674 | ||||
| 677 | Miscellaneous expenses | 240 | ||||
| 684 | Repairs expense—Computer | 775 | ||||
| Totals | $ | 101,544 | $ | 101,544 | ||
Business Solutions had the following transactions and events in December 2019.
| Dec. | 2 | Paid $960 cash to Hillside Mall for Business Solutions’ share of mall advertising costs. | |
| 3 | Paid $420 cash for minor repairs to the company’s computer. | ||
| 4 | Received $3,950 cash from Alex’s Engineering Co. for the receivable from November. | ||
| 10 | Paid cash to Lyn Addie for six days of work at the rate of $115 per day. | ||
| 14 | Notified by Alex’s Engineering Co. that Business Solutions’ bid of $7,400 on a proposed project has been accepted. Alex’s paid a $1,600 cash advance to Business Solutions. | ||
| 15 | Purchased $1,700 of computer supplies on credit from Harris Office Products. | ||
| 16 | Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8. | ||
| 20 | Completed a project for Liu Corporation and received $5,825 cash. | ||
| 22–26 | Took the week off for the holidays. | ||
| 28 | Received $3,900 cash from Gomez Co. on its receivable. | ||
| 29 | Reimbursed S. Rey for business automobile mileage (500 miles at $0.28 per mile). | ||
| 31 | S. Rey withdrew $1,400 cash from the company for personal use. | ||
The following additional facts are collected for use in making
adjusting entries prior to preparing financial statements for the
company’s first three months.
Required:
1. Prepare journal entries to record each of the
December transactions and events for Business Solutions.
2-a. Prepare adjusting entries to reflect
a through f.
2-b. Post the journal entries to record each of
the December transactions, adjusting entries to the accounts in the
ledger.
3. Prepare an adjusted trial balance as of
December 31, 2019.
4. Prepare an income statement for the three
months ended December 31, 2019.
5. Prepare a statement of owner’s equity for the
three months ended December 31, 2019.
6. Prepare a balance sheet as of December 31,
2019.
In: Accounting
E14-8 (Determine Proper Amounts in Account Balances) Presented
below are two independent situations.
(a) George Gershwin Co. sold $2,000,000 of 10%, 10-year bonds at
104 on January 1, 2017. The bonds were dated January 1,
2017, and pay interest on July 1 and January 1. If Gershwin uses
the straight-line method to amortize bond premium or
discount, determine the amount of interest expense to be reported
on July 1, 2017, and December 31, 2017.
(b) Ron Kenoly Inc. issued $600,000 of 9%, 10-year bonds on June
30, 2017, for $562,500. This price provided a yield
of 10% on the bonds. Interest is payable semiannually on December
31 and June 30. If Kenoly uses the effective-
interest method, determine the amount of interest expense to record
if financial statements are issued on
October 31, 2017.
In: Accounting
Javonte Co. set standards of 3 hours of direct labor per unit of
product and $16.80 per hour for the labor rate. During October, the
company uses 21,500 hours of direct labor at a $365,500 total cost
to produce 7,400 units of product. In November, the company uses
25,500 hours of direct labor at a $434,775 total cost to produce
7,800 units of product.
AH = Actual Hours
SH = Standard Hours
AR = Actual Rate
SR = Standard Rate
(1) Compute the direct labor rate variance, the
direct labor efficiency variance, and the total direct labor cost
variance for each of these two months. Classify each variance as
favorable or unfavorable.
(2) Javonte investigates variances of more than 5% of
actual direct labor cost. Which direct labor variances will the
company investigate further?
In: Accounting
How do American companies and other American stakeholders lobby in Europe? Do you think the Asian or American stakeholders are more effective at lobbying in Europe? How good are the Europeans at lobbying in Asia or the USA?
In: Economics
You first needs to create a file called “myJS.js” in your project directory. Then, include the AngularJS library and myJS.js in the header of the index.html page. Now, you need to define your angular application and a controller in this file such that the controller has the following variables with these initial values:
name = "Alex Cool";
faculty= "Faculty of Busienss and IT";
university = {name:"University of Ontario Institute of Technology",
url:"http://www.uoit.ca"};
contacts = {email:"[email protected]", phone:"xxx-xxx-xxxx"};
skills = [
{name: "Web Security",
text: "I am so great in web security."},
{name: "Typing with my toes",
text: "I can type 500 words in a minute with my toes!!!"} ];
prog_skills = ["C++", "Java", "Python"];
courses = [
{ name : "Web Programming",
number: "INFR 3120",
time:["Monday 2:10--3:30",
"Wednesday 2:10--3:30"],
instructor: "Amirali Abari"
},
{
name : "Web Programming",
number: "INFR 3120",
time:["Monday 11:10--12:30",
"Wednesday 11:10--12:30"],
instructor: "Amirali Abari"
},
{
name : "Best Programming",
number: "INFR 3120",
time:["Monday 2:10--3:30",
"Wednesday 2:10--3:30"],
instructor: "Amirali Abari"
}
];
You should edit the values of these variables to include your own information. Also, you need to slightly change the name of these variables when you are putting them in your Angular controller (Hint: remember $scope). Now modify the code of your index.html to use these variables. Some specific tasks follow:
Your name on top of the page, in contact section, and bottom of the page all come from the “name” variable defined above.
All contact Information about faculty, university, email address, and phone number should come from their relevant variables.
Your professional skills heading (i.e., the bold part) and their explanation should come from the “skills” variable. Hint: use ng-repeat.
Programming skills should come from the prog skills variable. Hint: use ng-repeat.
The content of course schedule table should come from the array of courses. Hint: use ng-repeat and also you might need to useto iterate over two rows.
Define events for your table such that if each header of column is clicked, then all rows are ordered by that column.
Index HTML
<!DOCTYPE html>
<html>
<head>
<title>Siba Lalik's Webpage</title>
<link rel="stylesheet" href="mycss.css">
<meta charset="utf-8">
<meta name="viewport" content="width=device-width,
initial-scale=1">
</head>
<body>
<div class="header">
Siba Lalik's Webpage
</div>
<div class="topnav">
<a href="#contact">Contacts</a>
<a href="#about">About me</a>
<a href="#programming">Programming</a>
<a href="#professional">Professional</a>
<a href="#schedules">Schedules</a>
</div>
<div class="row">
<div class="column half">
<img src = "IMG_5425.jpeg" ></td>
</div>
<div class="column half">
<h2 style="margin:0;" id="contact">Contacts</h2>
Hiba Malik<br>
Faculty of Busienss and IT <br>
<a href = "https://www.ontariotechu.ca">Ontario
TechU</a><br>
Email address: [email protected] <br>
Phone number: 5472622926 <br>
</div>
</div>
<div class="row">
<div class="column side">
<h2 id="about">About Hiba</h2>
<p>
My name is Siba Lalik. I am in my second year at OTU. I tested
positive for COVID in March and recovered, that is my story.
<br> It feels odd to write just one sentence when I have a
whole webpage available to work with.
<br> I like to write, hike and paint.
<br> I own a cat. I am not very good at programming but I
try.
</p>
</div>
<div class="column middle">
<h2 id="professional"> Professional Skills </h2>
<ol type= "i">
<li><strong>Operating Systems:</strong> I can
download Windows on my MacBook with no assistance.</li>
<li><strong>Project Management:</strong> I put
together the daily worksheets with everyone's tasks at
work.</li>
<li><strong>Leadership:</strong> I always walk in
front of everyone.</li>
<li><strong>Communications and Negotiation
Expert:</strong> In short, I love to talk but not more than I
love to be right.</li>
</ol>
</p>
</div>
<div class="column side">
<h2 id="programming"> Programming Skills </h2>
<ul style="list-style-type: square">
<li>C++</li>
<li>Java</li>
<li>Ruby</li>
<li>HTML</li>
</ul>
</p>
</div>
<div class="row">
<div class="column" style="width:100%">
<h2 id="schedules"> Course Schedules </h2>
<p>Here is the table of courses that I take this
semester.</p>
<table>
<tr>
<th>Course name</th>
<th>Course number</th>
<th> Days and Time </th>
<th> Instructor </th>
</tr>
<td rowspan = "2"><strong> Web
programming</td>
<td rowspan = "2"> INFR 3120</td>
<td rowspan = "1"> Monday 2:10--3:30</td>
<td rowspan = "2"> Amirali Abari</td>
</tr>
<tr>
<td rowspan = "1"> Wednesday 2:10--3:30</td>
</tr>
<td rowspan = "2"><strong> Statistics</td>
<td rowspan = "2"> INFR 1450</td>
<td rowspan = "1"> Wednesday 5:10--8:30</td>
<td rowspan = "2"> Amir Rastpour</td>
</tr>
<tr>
<td rowspan = "1"> Friday 2:10--5:10</td>
</tr>
<td rowspan = "2"><strong> Intro to
Entrepreneurship</td>
<td rowspan = "2"> BUSI 1700</td>
<td rowspan = "1"> Friday 3:40--6:30</td>
<td rowspan = "2"> Jeffrey Overall</td>
</tr>
</table>
</div>
<div class="footer">
<p>Designed by Siba @ 2020</p>
</div>
</html>
In: Computer Science
The Active Directory (AD) domain name is the same as the DNS name.
True
False
2 points
QUESTION 32
_________ provides the following management services:
|
Fault management |
||
|
Configuration management |
||
|
Accounting management |
||
|
Performance management |
2 points
QUESTION 33
The _______ layer can include routers, switches, bridges, shared-media hubs, and wireless APs.
|
core |
||
|
user |
||
|
distribution |
||
|
access |
In: Computer Science
The American Industrial Revolution (1770-1890) was an era with both economic growth and various social problems, and several new inventions made huge impacts on American society. Choose ONE invention.... mine is the railroad..... pertaining to the American Industrial Revolution and in at least 250 words discuss how it impacted American culture/workforce (Submission must be properly cited in Turabian format).
In: Economics
Unix treats file directories in the same fashion as files; that is, both is defined by the same type of data structure, call an inode. As with files, directories include a non-bit protection string. If care is not taken, this can create access control problems. For example, consider a file with protection mode 644 (rw- r-- r--) contained in a directory with protection mode 730 (rwx -wx ---). How might the files be compromised in this case?
In: Computer Science